Registered number
10470219
COLLABORATION BETTERS THE WORLD UK LIMITED
Financial Statements
31 December 2022
COLLABORATION BETTERS THE WORLD UK LIMITED
Registered number: 10470219
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 4 4,345 2,220
Current assets
Debtors 5 1,700,253 788,831
Cash at bank and in hand 35,943 178,813
1,736,196 967,644
Creditors: amounts falling due within one year 6 (988,120) (402,541)
Net current assets 748,076 565,103
Net assets 752,421 567,323
Capital and reserves
Called up share capital 100 100
Profit and loss account 752,321 567,223
Shareholders' funds 752,421 567,323
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jonathan Leslie May
Director
Approved by the board on 20 October 2023
COLLABORATION BETTERS THE WORLD UK LIMITED
Notes to the Accounts
for the year ended 31 December 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Audit information
The audit report is unqualified.
Senior statutory auditor: Thomas McManners BSc ACA ACMI
Firm: TTCA Ltd
Date of audit report: 20 October 2023
3 Employees 2022 2021
Number Number
Average number of persons employed by the company 9 4
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2022 15,642
Additions 4,190
At 31 December 2022 19,832
Depreciation
At 1 January 2022 13,422
Charge for the year 2,065
At 31 December 2022 15,487
Net book value
At 31 December 2022 4,345
At 31 December 2021 2,220
5 Debtors 2022 2021
£ £
Trade debtors 642,654 42,002
Accrued Income 552,028 141,772
Due from group undertakings 483,585 578,671
Deffered Charges 14,852 13,357
Other debtors 7,134 13,029
1,700,253 788,831
6 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 66,103 5,334
Amounts owed to group undertakings and undertakings in which the company has a participating interest 654,953 310,263
Taxation and social security costs 121,729 44,643
Other creditors 145,335 42,301
988,120 402,541
7 Controlling party
COLLABORATION BETTERS THE WORLD UK LIKITED is a subsidiary of Oneaston Pte Ltd a company incorporated in Singapore. Its financial statements are consolidated into the financial statements of its ultimate parent company Oneaston Ltd which can be obtained from 16 Raffles Quay, Singapore 048581
8 Other information
COLLABORATION BETTERS THE WORLD UK LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Hamilton House
Mabledon Place
London
WC1H 9BB
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