REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 JUNE 2023 |
FOR |
THE EAST INDIA COMPANY GIN LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 JUNE 2023 |
FOR |
THE EAST INDIA COMPANY GIN LIMITED |
THE EAST INDIA COMPANY GIN LIMITED (REGISTERED NUMBER: 09749378) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 JUNE 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
THE EAST INDIA COMPANY GIN LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 29 JUNE 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
7 St John's Road |
Harrow |
Middlesex |
HA1 2EY |
THE EAST INDIA COMPANY GIN LIMITED (REGISTERED NUMBER: 09749378) |
BALANCE SHEET |
29 JUNE 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
THE EAST INDIA COMPANY GIN LIMITED (REGISTERED NUMBER: 09749378) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 JUNE 2023 |
1. | STATUTORY INFORMATION |
The East India Company Gin Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The financial statements have been prepared on a going concern basis notwithstanding the company's net current liabilities position as at the year end. The connected companies have provided with an undertaking that they will continue to support financially for the foreseeable future and that they will not seek repayment of the amounts currently owing to them in the twelve months from the date of signing the financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue is recognised as earned when and to the extent that the company obtains the right to consideration in exchange for its performance. |
Amortisation |
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: |
Website Development Costs - 33.33% straight line |
Tangible fixed assets |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
THE EAST INDIA COMPANY GIN LIMITED (REGISTERED NUMBER: 09749378) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 JUNE 2023 |
4. | INTANGIBLE FIXED ASSETS |
Website |
development |
costs |
£ |
COST |
At 30 June 2022 |
and 29 June 2023 |
AMORTISATION |
At 30 June 2022 |
and 29 June 2023 |
NET BOOK VALUE |
At 29 June 2023 |
At 29 June 2022 |
5. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 30 June 2022 |
and 29 June 2023 |
DEPRECIATION |
At 30 June 2022 |
and 29 June 2023 |
NET BOOK VALUE |
At 29 June 2023 |
At 29 June 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
VAT |
THE EAST INDIA COMPANY GIN LIMITED (REGISTERED NUMBER: 09749378) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 JUNE 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Other creditors |
Director's current account | - | 50,012 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
Other creditors | 105,175 | 105,175 |
9. | RELATED PARTY DISCLOSURES |
Included within the other creditors as at yearend is £105,175 (2022: £105,175), an amount owed to Amigo International Trading Limited, a company where Mr Saniv Mehta is also the director. |
Included within the other creditors as at yearend is £912,017 (2022: £732,472), an amount owed to The East India Company Spirits Private Limited, a company registered in Singapore where Mr Abhijit Banerjee is also the director. |
The above amounts owed are unsecured and there are no specific terms to the repayment of this amount. |
Included within the other creditors as at yearend is £Nil (2022: £50,012), an amount owed to directors of the company. |