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The Collaboration London Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2022

 

The Collaboration London Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

The Collaboration London Limited

Company Information

Directors

Mr Paul John George Ringo Mellett

Mr Tom Bott

Mr Sam Alistair McGregor

Registered office

The Collab
198 Hoe Street
London
E17 4BF

Accountants

Grays Accountants Ltd

 

The Collaboration London Limited

(Registration number: 11795921)
Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

62,898

70,476

Current assets

 

Stocks

5

10,923

11,498

Debtors

6

84,042

34,315

Cash at bank and in hand

 

-

114,141

 

94,965

159,954

Creditors: Amounts falling due within one year

7

(209,152)

(166,393)

Net current liabilities

 

(114,187)

(6,439)

Total assets less current liabilities

 

(51,289)

64,037

Creditors: Amounts falling due after more than one year

7

(67,884)

(108,610)

Net liabilities

 

(119,173)

(44,573)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(119,174)

(44,574)

Shareholders' deficit

 

(119,173)

(44,573)

For the financial year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

The Collaboration London Limited

(Registration number: 11795921)
Balance Sheet as at 31 December 2022

Approved and authorised by the Board on 28 September 2023 and signed on its behalf by:
 

.........................................
Mr Paul John George Ringo Mellett
Director

.........................................
Mr Tom Bott
Director

.........................................
Mr Sam Alistair McGregor
Director

 

The Collaboration London Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Collab
198 Hoe Street
London
E17 4BF

These financial statements were authorised for issue by the Board on 28 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

The Collaboration London Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

The Collaboration London Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 19 (2021 - 21).

4

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2022

-

3,158

108,886

2,757

114,801

Additions

1,185

-

3,810

4,427

9,422

At 31 December 2022

1,185

3,158

112,696

7,184

124,223

Depreciation

At 1 January 2022

-

683

42,782

860

44,325

Charge for the year

118

296

15,830

756

17,000

At 31 December 2022

118

979

58,612

1,616

61,325

Carrying amount

At 31 December 2022

1,067

2,179

54,084

5,568

62,898

At 31 December 2021

-

2,475

66,104

1,897

70,476

Included within the net book value of land and buildings above is £1,067 (2021 - £Nil) in respect of short leasehold land and buildings.
 

 

The Collaboration London Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

5

Stocks

2022
£

2021
£

Finished goods and goods for resale

10,923

11,498

6

Debtors

Current

Note

2022
£

2021
£

Trade debtors

 

133

-

Amounts owed by related parties

8

15,065

-

Prepayments

 

38,601

3,881

Other debtors

 

30,243

30,434

   

84,042

34,315

 

The Collaboration London Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

7

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

11,318

11,410

Trade creditors

 

111,108

95,307

Taxation and social security

 

78,574

54,781

Accruals and deferred income

 

5,554

4,012

Other creditors

 

2,598

883

 

209,152

166,393

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

23,916

34,435

Other non-current financial liabilities

 

43,968

74,175

 

67,884

108,610

8

Related party transactions

The controlling party is Signature Brew Limited.

There is no ultimate controlling party, with no single shareholding exceeding 50% of the voting capital of the controlling party.