Company registration number 12268390 (England and Wales)
COLLABORATIVE BUSINESS SOLUTIONS (U.K.) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
COLLABORATIVE BUSINESS SOLUTIONS (U.K.) LIMITED
COMPANY INFORMATION
Directors
Mr B C Jones
Mr J C Shute
Company number
12268390
Registered office
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
COLLABORATIVE BUSINESS SOLUTIONS (U.K.) LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
COLLABORATIVE BUSINESS SOLUTIONS (U.K.) LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF COLLABORATIVE BUSINESS SOLUTIONS (U.K.) LIMITED FOR THE PERIOD ENDED 30 DECEMBER 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 Collaborative Business Solutions (U.K.) Limited for the period ended 30 December 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 Collaborative Business Solutions (U.K.) Limited, 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 Collaborative Business Solutions (U.K.) Limited and state those matters that we have agreed to state to the board of directors of Collaborative Business Solutions (U.K.) Limited, 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 Collaborative Business Solutions (U.K.) Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Collaborative Business Solutions (U.K.) Limited 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 Collaborative Business Solutions (U.K.) Limited. You consider that Collaborative Business Solutions (U.K.) Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Collaborative Business Solutions (U.K.) Limited. 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.

Ormerod Rutter Limited
18 September 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
COLLABORATIVE BUSINESS SOLUTIONS (U.K.) LIMITED
BALANCE SHEET
AS AT
30 DECEMBER 2023
30 December 2023
- 2 -
30 December 2023
31 December 2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
493,576
214,527
Investments
4
100
100
493,676
214,627
Current assets
Debtors
5
32,807
33,844
Creditors: amounts falling due within one year
6
(346,412)
(65,533)
Net current liabilities
(313,605)
(31,689)
Net assets
180,071
182,938
Capital and reserves
Called up share capital
7
945
945
Share premium account
149,055
149,055
Profit and loss reserves
30,071
32,938
Total equity
180,071
182,938

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 period ended 30 December 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 members have not required the company to obtain an audit of its financial statements for the period 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 18 September 2024 and are signed on its behalf by:
Mr B C Jones
Director
Company registration number 12268390 (England and Wales)
COLLABORATIVE BUSINESS SOLUTIONS (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Collaborative Business Solutions (U.K.) Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Oakley, Kidderminster Road, Droitwich, Worcestershire, WR9 9AY.

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. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Research and development expenditure

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.

1.3
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:

Development costs
Nil
1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

COLLABORATIVE BUSINESS SOLUTIONS (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.5
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.

2
Employees

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

2023
2022
Number
Number
Total
2
2
COLLABORATIVE BUSINESS SOLUTIONS (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 DECEMBER 2023
- 5 -
3
Intangible fixed assets
Development costs
£
Cost
At 1 January 2023
214,527
Additions - internally developed
279,049
At 30 December 2023
493,576
Amortisation and impairment
At 1 January 2023 and 30 December 2023
-
0
Carrying amount
At 30 December 2023
493,576
At 31 December 2022
214,527
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
100
100
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Deferred tax asset
32,807
33,844
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,830
-
0
Amounts owed to group undertakings
344,582
65,533
346,412
65,533
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
945
945
945
945
COLLABORATIVE BUSINESS SOLUTIONS (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 DECEMBER 2023
- 6 -
8
Ultimate controlling party

There is no ultimate controlling party.

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