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Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Pobjoy Mint Ltd

Pobjoy Mint Ltd (Registered number: 00509935)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Pobjoy Mint Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Miss T Pobjoy
D C Pobjoy





SECRETARY: T J Warner





REGISTERED OFFICE: Millennia House
Kingswood Park
Bonsor Drive
Kingswood
Surrey
KT20 6AY





REGISTERED NUMBER: 00509935 (England and Wales)





ACCOUNTANTS: Williams & Co Epsom LLP
Chartered Accountants
8-10 South Street
Epsom
Surrey
KT18 7PF

Pobjoy Mint Ltd (Registered number: 00509935)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 124,784 169,323
Investments 5 3,712 3,712
128,496 173,035

CURRENT ASSETS
Stocks 6 435,155 937,237
Debtors 7 20,000 164,927
Cash at bank 170,420 1,030,553
625,575 2,132,717
CREDITORS
Amounts falling due within one year 8 3,430,193 4,438,821
NET CURRENT LIABILITIES (2,804,618 ) (2,306,104 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,676,122

)

(2,133,069

)

CAPITAL AND RESERVES
Called up share capital 9 5,000 5,000
Retained earnings (2,681,122 ) (2,138,069 )
SHAREHOLDERS' FUNDS (2,676,122 ) (2,133,069 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 September 2024 and were signed on its behalf by:





Miss T Pobjoy - Director


Pobjoy Mint Ltd (Registered number: 00509935)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Pobjoy Mint Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company closed its operations in December 2023 and the closure costs are reflected in the accounts.

The company continues to have support from its holding company to meet any debts arising.

The directors will decide if the company is to continue trading during 2024.

Turnover
Turnover represents net invoiced sales of goods, excluding VAT. Turnover is recognised when goods are delivered to customers and title passes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - at variable rates on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Precious metals are valued at year end market rates.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 19 ) .

Pobjoy Mint Ltd (Registered number: 00509935)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 3,001,923 792,396 40,298 3,834,617
DEPRECIATION
At 1 January 2023 2,893,430 741,661 30,203 3,665,294
Charge for year 30,302 8,971 5,266 44,539
At 31 December 2023 2,923,732 750,632 35,469 3,709,833
NET BOOK VALUE
At 31 December 2023 78,191 41,764 4,829 124,784
At 31 December 2022 108,493 50,735 10,095 169,323

5. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST
At 1 January 2023
and 31 December 2023 9,230
PROVISIONS
At 1 January 2023
and 31 December 2023 5,518
NET BOOK VALUE
At 31 December 2023 3,712
At 31 December 2022 3,712

6. STOCKS
2023 2022
£    £   
Valuation 435,155 937,237

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 41,900
Other debtors 20,000 20,000
Hedging fund - 179
VAT - 7,382
Prepayments - 95,466
20,000 164,927

Pobjoy Mint Ltd (Registered number: 00509935)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 15,611 6,524
VAT 536 -
Other creditors 695,662 691,530
Sales in advance - 783,332
Other taxes & PAYE 4,519 7,662
Accrued expenses 219,596 455,711
Due to connected co - DPINV 2,494,269 2,494,062
3,430,193 4,438,821

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
5,000 Ordinary Shares £1 5,000 5,000

10. PENSION COMMITMENTS

The company operates two money purchase schemes. The assets of each scheme are held separately from those of the company in independently administered funds. The pension cost charges represent contributions payable by the company to the funds and amounted to £19,952 (2020 - £23,438).

11. CONTINGENT LIABILITIES

The company has given an unlimited cross guarantee to the bankers of the holding company and a connected company.

12. RELATED PARTY DISCLOSURES

During the year the company sold goods and services to Derek Pobjoy International Limited a company controlled by the same family that control this company. These goods and services were sold at normal market rates.

13. ULTIMATE CONTROLLING PARTY

The group is under the control of the Board of Derek Pobjoy Investments Ltd.