2023-06-302024-06-292024-06-29false04068868THE EAST INDIA COMPANY LIFESTYLE 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THE EAST INDIA COMPANY LIFESTYLE LIMITED

Registered Number
04068868
(England and Wales)

Unaudited Financial Statements for the Year ended
29 June 2024

THE EAST INDIA COMPANY LIFESTYLE LIMITED
Company Information
for the year from 30 June 2023 to 29 June 2024

Directors

M Bhansali
S M Mehta

Registered Address

97 New Bond Street
Ground Floor
London
W1S 1SL

Registered Number

04068868 (England and Wales)
THE EAST INDIA COMPANY LIFESTYLE LIMITED
Balance Sheet as at
29 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3137,384540,078
Tangible assets4181,502257,638
Investments577
318,893797,723
Current assets
Stocks6800,165587,330
Debtors7382,379569,170
Cash at bank and on hand66,101130,579
1,248,6451,287,079
Creditors amounts falling due within one year8(486,727)(478,794)
Net current assets (liabilities)761,918808,285
Total assets less current liabilities1,080,8111,606,008
Creditors amounts falling due after one year9(4,079,847)(3,274,105)
Net assets(2,999,036)(1,668,097)
Capital and reserves
Called up share capital101101
Other reserves-318,379
Profit and loss account(2,999,137)(1,986,577)
Shareholders' funds(2,999,036)(1,668,097)
The financial statements were approved and authorised for issue by the Board of Directors on 28 March 2025, and are signed on its behalf by:
S M Mehta
Director
Registered Company No. 04068868
THE EAST INDIA COMPANY LIFESTYLE LIMITED
Notes to the Financial Statements
for the year ended 29 June 2024

1.Accounting policies
Statutory information
The East India Company Lifestyle Limited 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. The presentation currency of the financial statements is the Pound Sterling (£).
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
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.
Turnover policy
Turnover represents management fees received or receivable from group companies, net of value added tax.
Revenue from sale of goods
Management fees receivable is recognised over the period in which the services are provided.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current 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. 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.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Devel costs are being amortised evenly over their estimated useful life of nil years.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Long leasehold - 20% on cost Fixtures and fittings - 25% on reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks and work in progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2.Average number of employees

20242023
Average number of employees during the year2222
3.Intangible assets

Other

Total

££
Cost or valuation
At 30 June 23733,870733,870
Additions(238,966)(238,966)
At 29 June 24494,904494,904
Amortisation and impairment
At 30 June 23193,792193,792
Charge for year163,728163,728
At 29 June 24357,520357,520
Net book value
At 29 June 24137,384137,384
At 29 June 23540,078540,078
4.Tangible fixed assets

Land & buildings

Fixtures & fittings

Total

£££
Cost or valuation
At 30 June 23485,50779,397564,904
Additions-5,8785,878
At 29 June 24485,50785,275570,782
Depreciation and impairment
At 30 June 23252,10355,163307,266
Charge for year72,3129,70282,014
At 29 June 24324,41564,865389,280
Net book value
At 29 June 24161,09220,410181,502
At 29 June 23233,40424,234257,638
5.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 30 June 2377
At 29 June 2477
Net book value
At 29 June 2477
At 29 June 2377

Notes

1Investments in group undertakings and participating interests
6.Stocks

2024

2023

££
Other stocks800,165587,330
Total800,165587,330
7.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables125,770194,189
Other debtors229,909368,513
Prepayments and accrued income26,7006,468
Total382,379569,170
8.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables78,21382,928
Taxation and social security1,7232,870
Other creditors406,791280,050
Accrued liabilities and deferred income-112,946
Total486,727478,794
9.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts4,079,8473,274,105
Total4,079,8473,274,105
10.Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
11.Controlling party
The company's immediate parent undertaking is The East India Company Group Limited, a company registered in British Virgin Islands. The ultimate parent company is The East India Company Enterprises Ltd, a company registered in British Virgin Islands.