Company registration number 13666843 (England and Wales)
COLIVING COLLECTIVE GROUP LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
COLIVING COLLECTIVE GROUP LTD
COMPANY INFORMATION
Directors
Mr A E J Cork
Mrs S A B Cork
Company number
13666843
Registered office
128 City Road
London
EC1V 2NX
Accountants
Property Tax People Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Starling Bank Limited
5th Floor London Fruit And Wool Exchange
1 Duval Square
London
EC2M 2PP
COLIVING COLLECTIVE GROUP LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
COLIVING COLLECTIVE GROUP LTD
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF COLIVING COLLECTIVE GROUP LTD FOR THE YEAR ENDED 31 OCTOBER 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Coliving Collective Group Ltd for the year ended 31 October 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Coliving Collective Group Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Coliving Collective Group Ltd and state those matters that we have agreed to state to the board of directors of Coliving Collective Group Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Coliving Collective Group Ltd and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Coliving Collective Group Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Coliving Collective Group Ltd. You consider that Coliving Collective Group Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Coliving Collective Group Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Property Tax People Limited
29 July 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
COLIVING COLLECTIVE GROUP LTD
BALANCE SHEET
AS AT
31 OCTOBER 2023
31 October 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
315,757
265,860
Current assets
Debtors
4
15,995
366
Cash at bank and in hand
35,565
4,634
51,560
5,000
Creditors: amounts falling due within one year
5
(288,089)
(272,732)
Net current liabilities
(236,529)
(267,732)
Total assets less current liabilities
79,228
(1,872)
Creditors: amounts falling due after more than one year
6
(110,000)
-
0
Net liabilities
(30,772)
(1,872)
Capital and reserves
Called up share capital
8
2
2
Profit and loss reserves
(30,774)
(1,874)
Total equity
(30,772)
(1,872)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 29 July 2024 and are signed on its behalf by:
Mr A E J Cork
Mrs S A B Cork
Director
Director
Company registration number 13666843 (England and Wales)
COLIVING COLLECTIVE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
- 3 -
1
Accounting policies

Company information

Coliving Collective Group Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 128 City Road, London, EC1V 2NX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements have been drawn up on the going concern basis. If the going concern basis were not appropriate, adjustments would have been made to reduce assets to recoverable amounts, to provide for any further liabilities that might arise, and to re-classify fixed assets as current assets and long term liabilities as current liabilities.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.4
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

COLIVING COLLECTIVE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Investment property
2023
£
Fair value
At 1 November 2022
265,860
Additions
49,897
At 31 October 2023
315,757

The directors have assessed the market value of the property and consider that there has been no significant change in the market value at the year end.

4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
8,850
-
0
Deferred tax asset
7,145
366
15,995
366
5
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
3,931
-
0
Other creditors
284,158
272,732
288,089
272,732
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
110,000
-
0
COLIVING COLLECTIVE GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 5 -
7
Secured debts
The following secured debts are included within creditors:
2023
2022
£
£
Bank loans
110,000
-
Bank loans are secured by way of a fixed and floating charge over all assets of the company.
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
2
2
2
2
9
Ultimate controlling party

The ultimate controlling party is Mr A E J Cork and Mrs S A B Cork.

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