Cameo Coins Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Cameo Coins Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13710702 . The registered office is Sovereign House, 22 Shelley Road, Worthing, BN11 1TU.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	SL over life of asset
Plant & Machinery	20%
Motor Vehicles	20%
Fixtures & Fittings	20%

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Cameo Coins Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 4 (2024: 3)

4. Prior Period Adjustment

5. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost
As at 1 November 2024	-	6,012	9,199	18,436	33,647
Additions	236,250	-	-	3,385	239,635

As at 31 October 2025	236,250	6,012	9,199	21,821	273,282

Depreciation
As at 1 November 2024	-	3,166	1,840	5,387	10,393
Provided during the period	-	1,202	1,840	4,364	7,406
Other	35,000	-	-	-	35,000

As at 31 October 2025	35,000	4,368	3,680	9,751	52,799

Net Book Value
As at 31 October 2025	201,250	1,644	5,519	12,070	220,483

As at 1 November 2024	-	2,846	7,359	13,049	23,254

6. Stocks

	2025	2024 as restated
	£	£
Stock	185,127	152,348

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Cameo Coins Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

7. Debtors

	2025	2024 as restated
	£	£
Due within one year
Trade debtors	305	23,090
Other debtors	18,726	39,260

	19,031	62,350

8. Current Asset Investments

	2025	2024 as restated
	£	£
Short term deposits	8,750	8,750

9. Creditors: Amounts Falling Due Within One Year

	2025	2024 as restated
	£	£
Net obligations under finance lease and hire purchase contracts	35,000	-
Trade creditors	120	352
Bank loans and overdrafts	-	32,591
Other creditors	136,810	195,975
Taxation and social security	47,652	2,166

	219,582	231,084

10. Creditors: Amounts Falling Due After More Than One Year

	2025	2024 as restated
	£	£
Net obligations under finance lease and hire purchase contracts	166,250	-

11. Obligations Under Finance Leases and Hire Purchase

	2025	2024 as restated
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	35,000	-
Later than one year and not later than five years	140,000	-
Later than five years	26,250	-

	201,250	-

	201,250	-

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Cameo Coins Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

12. Share Capital

	2025	2024 as restated
	£	£
Allotted, Called up and fully paid	5	5

13. Related Party Transactions

During the year, the company entered into the following transactions with related parties:

The following amounts were outstanding at the reporting end date:

Mr M Hughes is a director of Alton Gold Buyers Limited.

There were interest free loans, repayable on demand, made to Alton Gold Buyers Limted. The total amount loaned in the year was £55,000 ( 2024: Nil). The total amount due at the year end was £5,000 (2024: NIL).

Further loans of £250,000 have been made to Alton Gold Buyers Limited since the balance sheet date. These are outstanding at the date of signing the accounts.

14. Transition to FRS 102

This is the first year the company has presented its financial statements under FRS 102 Section 1A (Small Entities). The company previously prepared its financial statements under FRS 105. The date of transition was 1 November 2023.

The transition required a retrospective change to the accounting policy for deferred tax, which was not permitted under FRS 105. The impact of this restatement on the company's historical financial position is detailed below:

Opening Equity (1 November 2023): Reduced by £1,512.59 to record the initial deferred tax liability on fixed asset timing differences (calculated at 19%). This adjusted the previously reported equity of £1,313.00 to a restated deficit of (£199.59).

Prior Year Profit (Year ended 31 October 2024): Reduced by a deferred tax charge of £1,943.83, altering the previously reported profit of £14,300.00 to a restated profit of £12,356.17.

Closing Comparative Equity (31 October 2024): The cumulative effect of these adjustments reduced the previously reported equity of £15,613.00 to a restated balance of £12,156.58.

Deferred tax balances at 31 October 2024 (£3,456.42) and 31 October 2025 (£3,486.56) are calculated using the expected future effective marginal tax rate of 22%.

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		2025		2024 as restated
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		220,483		23,254

			220,483		23,254
CURRENT ASSETS
Stocks	6	185,127		152,348
Debtors	7	19,031		62,350
Investments	8	8,750		8,750
Cash at bank and in hand		90,087		-

		302,995		223,448
Creditors: Amounts Falling Due Within One Year	9	(219,582 )		(231,084 )

NET CURRENT ASSETS (LIABILITIES)			83,413		(7,636 )

TOTAL ASSETS LESS CURRENT LIABILITIES			303,896		15,618

Creditors: Amounts Falling Due After More Than One Year	10		(166,250 )		-

PROVISIONS FOR LIABILITIES
Deferred Taxation			(3,188 )		(3,456 )

NET ASSETS			134,458		12,162

CAPITAL AND RESERVES
Called up share capital	12		5		5
Profit and Loss Account			134,453		12,157

SHAREHOLDERS' FUNDS			134,458		12,162