2023-06-292024-06-282024-06-28false07352505THE EAST INDIA COMPANY COLLECTIONS 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THE EAST INDIA COMPANY COLLECTIONS LIMITED

Registered Number
07352505
(England and Wales)

Unaudited Financial Statements for the Year ended
28 June 2024

THE EAST INDIA COMPANY COLLECTIONS LIMITED
Company Information
for the year from 29 June 2023 to 28 June 2024

Directors

A Banerjee
BHANSALI, Manan
S M Mehta

Registered Address

97 New Bond Street
Ground Floor
London
W1S 1SL

Registered Number

07352505 (England and Wales)
THE EAST INDIA COMPANY COLLECTIONS LIMITED
Statement of Financial Position
28 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets4205,578248,429
Tangible assets54,049,542953,723
4,255,1201,202,152
Current assets
Stocks554,4761,533,857
Debtors620,4421,870,317
Cash at bank and on hand17,224204,194
1,192,1423,608,368
Creditors amounts falling due within one year(2,266,289)(2,113,333)
Net current assets (liabilities)(1,074,147)1,495,035
Total assets less current liabilities3,180,9732,697,187
Creditors amounts falling due after one year(2,932,499)(2,069,719)
Net assets248,474627,468
Capital and reserves
Called up share capital11
Profit and loss account248,473627,467
Shareholders' funds248,474627,468
The financial statements were approved and authorised for issue by the Board of Directors on 7 May 2025, and are signed on its behalf by:
S M Mehta
Director
Registered Company No. 07352505
THE EAST INDIA COMPANY COLLECTIONS LIMITED
Notes to the Financial Statements
for the year ended 28 June 2024

1.Accounting policies
Statutory information
The East India Company Collections 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 is measured at the fair value of the consideration received or receivable, net of discounts and value added tax. Turnover consists of revenue earned from the distribution of gold and silver coins.
Revenue from sale of goods
Revenue from the distribution of gold and silver coins is recognised at the point of sale.
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
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All differences are taken to the Profit and Loss account.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
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, as follows:
Finance leases and hire purchase contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and net realisable value.
2.Average number of employees

20242023
Average number of employees during the year11
3.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.
4.Intangible assets

Total

£
Cost or valuation
At 29 June 23269,443
Additions13,580
At 28 June 24283,024
Amortisation and impairment
At 29 June 2321,014
Charge for year56,431
At 28 June 2477,445
Net book value
At 28 June 24205,578
At 28 June 23248,429
5.Tangible fixed assets

Total

£
Cost or valuation
At 29 June 231,019,691
Additions3,372,975
At 28 June 244,392,666
Depreciation and impairment
At 29 June 2365,967
Charge for year277,157
At 28 June 24343,124
Net book value
At 28 June 244,049,542
At 28 June 23953,723
6.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.
7.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.