| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| FOR |
| THE EAST INDIAN PRODUCE COMPANY LIMITED |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| FOR |
| THE EAST INDIAN PRODUCE COMPANY LIMITED |
| THE EAST INDIAN PRODUCE COMPANY LIMITED (REGISTERED NUMBER: 00191101) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| THE EAST INDIAN PRODUCE COMPANY LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditors |
| 10 Jesus Lane |
| Cambridge |
| Cambridgeshire |
| CB5 8BA |
| THE EAST INDIAN PRODUCE COMPANY LIMITED (REGISTERED NUMBER: 00191101) |
| BALANCE SHEET |
| 31 MARCH 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash and cash equivalents |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 12 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| THE EAST INDIAN PRODUCE COMPANY LIMITED (REGISTERED NUMBER: 00191101) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 1. | STATUTORY INFORMATION |
| The East Indian Produce Company Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about The East Indian Produce Company Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Critical accounting judgements and key sources of estimation uncertainty |
| The preparation of the financial statements requires management to make judgments, estimates and assumption that affect the amounts reported for assets and liabilities at the balance sheet date and the amounts reported for income and expenses during the year. The following judgments (apart from those involving estimates) have had the most significant effect on amounts recognised or disclosed in the financial statements. |
| (i) Defined benefit pension scheme: |
| The company has a defined benefit pension scheme. Assumptions used in estimating the values of |
| assets and liabilities are disclosed in note 12. |
| (ii) Tangible fixed assets |
| The depreciation charge for tangible fixed assets is calculated in accordance with rates set out in note 2.4 |
| Turnover |
| Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| THE EAST INDIAN PRODUCE COMPANY LIMITED (REGISTERED NUMBER: 00191101) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 3. | ACCOUNTING POLICIES - continued |
| Tangible fixed assets |
| Tangible fixed assets under the cost model are stated at historical cost less accumulated |
| depreciation and any accumulated impairment losses. Historical cost includes expenditure that is |
| directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
| Depreciation is charged so as to allocate the cost of assets less their residual value over their |
| estimated useful lives, using the straight-line method. |
| Depreciation is provided on the following basis: |
| Motor vehicles - 25% Straight Line |
| Fixtures and fittings - 33% Straight Line |
| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted |
| prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. |
| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. |
| Financial instruments |
| Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Pension costs and other post-retirement benefits |
| The company is a member of a defined-benefit pension plan. The surplus is not recognised in the |
| statement of financial position as it is not expected to be recoverable through reduced contributions |
| or refunds in the foreseeable future. |
| THE EAST INDIAN PRODUCE COMPANY LIMITED (REGISTERED NUMBER: 00191101) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 3. | ACCOUNTING POLICIES - continued |
| Going concern |
| The financial statements have been prepared on the going concern basis, which the directors consider to be appropriate. |
| In assessing whether the company is a going concern, the directors have considered the company's financial position, including cash balances, future, and the absence of any material uncertainties. |
| Based on this review, the directors believe the company has adequate resources to continue in operational existence for at least twelve months from the date of approval of these financial statements, and therefore the going concern basis of preparation remains appropriate. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 April 2024 |
| Additions |
| Disposals | ( |
) |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| 6. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 April 2024 |
| and 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| THE EAST INDIAN PRODUCE COMPANY LIMITED (REGISTERED NUMBER: 00191101) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2025 | 2024 |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | SECURED DEBTS |
| There are outstanding charges in favour of Barclays Bank PLC by way of a fixed and floating charge over the assets of the business. |
| A further two charges were registered on 30th November 1999 in favour of Banque Nationale De Paris. All monies due or to become due from the company to the chargee on any account whatsoever by way of a fixed charge. |
| 11. | PROVISIONS FOR LIABILITIES |
| 2025 | 2024 |
| £ | £ |
| Deferred tax | 9,813 | 965 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2024 |
| Provided during year |
| Balance at 31 March 2025 |
| Deferred tax is recognised in respect of the excess of capital allowances over depreciation. |
| THE EAST INDIAN PRODUCE COMPANY LIMITED (REGISTERED NUMBER: 00191101) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 12. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary | £1 | 100,000 | 100,000 |
| 13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| THE EAST INDIAN PRODUCE COMPANY LIMITED (REGISTERED NUMBER: 00191101) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 14. | PENSION COMMITMENTS |
| The Company operates a Defined benefit pension scheme. |
| The pension costs and asset for the year ending 31 March 2025 are based on the advice of a professionally qualified actuary. The most recent formal valuation is dated 30 September 2020. The results of the valuation were that the scheme was now in surplus and no further contributions were required. The asset is not recognised due to uncertainty over when it might be recovered. |
| The contribution made for the year ended 31 March 2025 was £NIL (2024: £NIL). The agreed contribution rate for future years is NIL% |
| Reconciliation of present value of plan liabilities |
| 2025 | 2024 |
| £ | £ |
| At the beginning of the year | 3,956,000 | 4,156,000 |
| Interest cost | 182,000 | 195,000 |
| Actuarial gains/losses | -222,000 | -36,000 |
| Benefits paid | -338,000 | -324,000 |
| -------------- | -------------- |
| At the end of the year | 3,578,000 | 3,956,000 |
| Reconciliation of present value of plan assets |
| 2025 | 2024 |
| £ | £ |
| At the beginning of the year | 8,523,000 | 8,411,000 |
| Interest cost | 398,000 | 402,000 |
| Actuarial gains/losses | -288,000 | 69,000 |
| Benefits paid | -338,000 | -359,000 |
| --------------- | --------------- |
| At the end of the year | 8,295,000 | 8,523,000 |
| The plan assets consist of : |
| 2025 | 2024 |
| £ | £ |
| Cash and cash equivalents | 373,000 | 331,000 |
| Debt instruments | 7,922,000 | 8,192,000 |
| Total | 8,295,000 | 8,523,000 |
| 2025 | 2024 |
| £ | £ |
| Fair value of plan assets | 8,295,000 | 8,523,000 |
| Present value of plan liabilities | -3,578,000 | -3,956,000 |
| Net pension scheme asset | 4,717,000 | 4,567,000 |
| THE EAST INDIAN PRODUCE COMPANY LIMITED (REGISTERED NUMBER: 00191101) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| Principal actuarial assumptions at the reporting date |
| 2025 | 2024 |
| Mortality rate |
| - for a male aged 65 now | 21.1 | 21.1 |
| - at 65 for a male aged 45 now | 22.8 | 22.7 |
| - for a female aged 65 now | 24.1 | 24.0 |
| - at 65 for a female aged 45 now | 25.8 | 25.7 |
| Discount rate | 5.70% | 4.80% |
| Price inflation rate (RPI) | 3.40% | 3.50% |
| Price inflation rate (CPI) | 2.65% | 2.50% |