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Company Registration No. 02923843 (England and Wales)
Collective Ink Limited Unaudited accounts for the year ended 31 December 2023
Collective Ink Limited Unaudited accounts Contents
Page
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Collective Ink Limited Company Information for the year ended 31 December 2023
Directors
Etan Jonathan Ilfeld Vicky Hartley
Company Number
02923843 (England and Wales)
Registered Office
SHEPPERTON HOUSE UNIT 11 89-93 SHEPPERTON ROAD LONDON N1 3DF ENGLAND
Accountants
Accountancy Solutions (Winchester) Limited Trafalgar House 223 Southampton Road Portchester Hampshire PO6 4PY
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Collective Ink Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
67,150 
33,353 
Tangible assets
1,023 
1,279 
Investments
19,002 
19,002 
87,175 
53,634 
Current assets
Inventories
222,410 
220,020 
Debtors
520,924 
484,677 
Cash at bank and in hand
38,217 
130,179 
781,551 
834,876 
Creditors: amounts falling due within one year
(336,430)
(331,411)
Net current assets
445,121 
503,465 
Total assets less current liabilities
532,296 
557,099 
Creditors: amounts falling due after more than one year
(19,002)
(19,002)
Provisions for liabilities
Deferred tax
(3,044)
(4,127)
Net assets
510,250 
533,970 
Capital and reserves
Called up share capital
231,913 
231,913 
Profit and loss account
278,337 
302,057 
Shareholders' funds
510,250 
533,970 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by
Etan Jonathan Ilfeld Director Company Registration No. 02923843
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Collective Ink Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Collective Ink Limited is a private company, limited by shares, registered in England and Wales, registration number 02923843. The registered office is SHEPPERTON HOUSE UNIT 11, 89-93 SHEPPERTON ROAD, LONDON, N1 3DF, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future despite the impact of Covid-19 on their sector, which has been negligible, thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Research and development
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity. Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Software 5 years straight line
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Collective Ink Limited Notes to the Accounts for the year ended 31 December 2023
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Fixtures, fittings and equipment - 20% reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Fixed asset investments
Fixed asset investments are stated at cost less provision for diminution in value.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and deposits held at call with banks.
Subsidiaries
Details of the company's subsidiaries at 31/12/2023 are as follows: Name of undertaking: Kavton Wells Limited Registered office: UK Nature of business: Dormant Class of shares held: Ordinary % Held Direct: 100.00
Presentation currency
The accounts are presented in £ sterling.
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Collective Ink Limited Notes to the Accounts for the year ended 31 December 2023
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Parent company
For the period under review from 1st January 2023 - 31st December 2023 the directors consider the immediate parent company to be Tendertheory Limited (Registered office: 6 Cecil Court, London, WC2N 4EZ.). The directors also considers the ultimate controlling party to be Etan Ilfeld by virtue of his 100% shareholding in Tendertheory Limited.
4
Intangible fixed assets
Goodwill 
Other 
Total 
£ 
£ 
£ 
Cost
At 1 January 2023
87,975 
72,891 
160,866 
Additions
- 
52,800 
52,800 
At 31 December 2023
87,975 
125,691 
213,666 
Amortisation
At 1 January 2023
87,975 
39,538 
127,513 
Charge for the year
- 
19,003 
19,003 
At 31 December 2023
87,975 
58,541 
146,516 
Net book value
At 31 December 2023
- 
67,150 
67,150 
At 31 December 2022
- 
33,353 
33,353 
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 January 2023
11,047 
At 31 December 2023
11,047 
Depreciation
At 1 January 2023
9,768 
Charge for the year
256 
At 31 December 2023
10,024 
Net book value
At 31 December 2023
1,023 
At 31 December 2022
1,279 
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Collective Ink Limited Notes to the Accounts for the year ended 31 December 2023
6
Investments
Subsidiary undertakings 
£ 
Valuation at 1 January 2023
19,002 
Valuation at 31 December 2023
19,002 
7
Inventories
2023 
2022 
£ 
£ 
Finished goods
222,410 
220,020 
222,410 
220,020 
8
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
13,577 
21,132 
Trade debtors
467,107 
435,023 
Accrued income and prepayments
582 
1,046 
Other debtors
39,658 
27,476 
520,924 
484,677 
9
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
295,238 
309,777 
Amounts owed to group undertakings and other participating interests
40,000 
- 
Taxes and social security
3,947 
8,634 
Accruals
(2,755)
13,000 
336,430 
331,411 
10
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Amounts owed to group undertakings and other participating interests
19,002 
19,002 
11
Average number of employees
During the year the average number of employees was 6 (2022: 6).
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