Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-010truetruetruetruetruetruetruePayPoint plcfalse0false 10520701 2023-04-01 2024-03-31 10520701 2022-04-01 2023-03-31 10520701 2024-03-31 10520701 2023-03-31 10520701 2022-04-01 10520701 c:CompanySecretary1 2023-04-01 2024-03-31 10520701 c:Director1 2023-04-01 2024-03-31 10520701 c:Director2 2023-04-01 2024-03-31 10520701 c:Director2 2024-03-31 10520701 c:Director3 2023-04-01 2024-03-31 10520701 c:Director3 2024-03-31 10520701 c:RegisteredOffice 2023-04-01 2024-03-31 10520701 d:CurrentFinancialInstruments 2024-03-31 10520701 d:CurrentFinancialInstruments 2023-03-31 10520701 d:Non-currentFinancialInstruments 2024-03-31 10520701 d:Non-currentFinancialInstruments 2023-03-31 10520701 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10520701 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10520701 d:ShareCapital 2023-04-01 2024-03-31 10520701 d:ShareCapital 2024-03-31 10520701 d:ShareCapital 2022-04-01 2023-03-31 10520701 d:ShareCapital 2023-03-31 10520701 d:ShareCapital 2022-04-01 10520701 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 10520701 d:RetainedEarningsAccumulatedLosses 2024-03-31 10520701 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 10520701 d:RetainedEarningsAccumulatedLosses 2023-03-31 10520701 d:RetainedEarningsAccumulatedLosses 2022-04-01 10520701 c:OrdinaryShareClass1 2023-04-01 2024-03-31 10520701 c:OrdinaryShareClass1 2024-03-31 10520701 c:OrdinaryShareClass1 2023-03-31 10520701 c:FRS101 2023-04-01 2024-03-31 10520701 c:Audited 2023-04-01 2024-03-31 10520701 c:FullAccounts 2023-04-01 2024-03-31 10520701 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10520701 d:Subsidiary1 2023-04-01 2024-03-31 10520701 d:Subsidiary1 1 2023-04-01 2024-03-31 10520701 6 2023-04-01 2024-03-31 10520701 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10520701









COLLECT+ HOLDINGS LIMITED









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
COLLECT+ HOLDINGS LIMITED
 
 
COMPANY INFORMATION


Directors
N Williams 
R Harding (appointed 14 August 2023)




Company secretary
Indigo Corporate Secretary Limited



Registered number
10520701



Registered office
1 The Boulevard
Shire Park

Welwyn Garden City

United Kingdom

AL7 1EL




Independent auditors
PricewaterhouseCoopers LLP, Statutory Auditors
Chartered Accountants

40 Clarendon Road

Watford

Hertforshire

WD17 1JJ





 
COLLECT+ HOLDINGS LIMITED
 

CONTENTS



Page(s)
Directors' Report
1 - 2
Independent Auditors' Report to The Members of Collect+ Holdings Limited
2 - 5
Statement of Comprehensive Income
6
Statement of Financial Position
7
Statement of Changes in Equity
8
Notes to the Financial Statements
9 - 14


 
COLLECT+ HOLDINGS LIMITED
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2024

The directors present their report and the audited financial statements for the year ended 31 March 2024.

Principal activities

The principal activity of the Company is being the immediate holding company of Collect+ Brand Limited. 

Results and dividends

The profit for the year, after taxation, amounted to £10,000k (2023 - £500k).

During the year a dividend of £10,000k was declared and paid (2023: £500k).

Directors

The directors of the Company were in office during the year and up to the date of signing the financial statements were:

N Williams 
A Dale (resigned 6 December 2023)
R Harding (appointed 14 August 2023)

Statement of directors’ responsibilities in respect of the financial statements

The directors are responsible for preparing the Annual Report and Financial Statements and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have prepared the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS 101 “Reduced Disclosure Framework”, and applicable law). 
 
Under company law, directors must not approve the financial statements unless they are satisfied that they give
 a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing the financial statements, the directors are required to:


select suitable accounting policies and then apply them consistently;

state whether applicable UK Accounting Standards, comprising FRS 101 have been followed, subject to any material departures disclosed and explained in the financial statements;

make judgements and accounting estimates that are reasonable and prudent; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.


The directors are responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are also responsible for keeping adequate accounting records that are sufficient to show and explain the Company’s transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006.

The directors are responsible for the maintenance and integrity of the Company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Page 1

 
COLLECT+ HOLDINGS LIMITED
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024

Directors’ confirmations

In the case of each director in office at the date the directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

they have taken all the steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Independent auditors

The independent auditorsPricewaterhouseCoopers LLP, Statutory Auditorswill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

The financial statements on pages 6 to 14 were approved by the Board of Directors and signed on its behalf by.
 





N Williams
Director

Date: 29 November 2024

1 The Boulevard
Shire Park
Welwyn Garden City
United Kingdom
AL7 1EL


Page 2

 
COLLECT+ HOLDINGS LIMITED
 

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF COLLECT+ HOLDINGS LIMITED



Report on the audit of the financial statements

Opinion
In our opinion, Collect+ Holdings Limited's financial statements: 

give a true and fair view of the state of the company’s affairs as at 31 March 2024 and of its profit for the year then ended; 

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, including FRS 101 “Reduced Disclosure Framework”, and applicable law); and 

have been prepared in accordance with the requirements of the Companies Act 2006.


We have audited the financial statements included within the Annual Report and Financial Statements (the “Annual Report”), which comprise: the statement of financial position as at 31 March 2024; the statement of comprehensive Income and the statement of changes in equity for the year then ended; and the notes to the financial statements, comprising material accounting policy information and other explanatory information.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (“ISAs (UK)”) and applicable law. Our responsibilities under ISAs (UK) are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Independence
We remained independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, which includes the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.

Conclusions relating to going concern 
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
 
However, because not all future events or conditions can be predicted, this conclusion is not a guarantee as to the company's ability to continue as a going concern.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Reporting on other information
The other information comprises all of the information in the Annual Report other than the financial statements and our auditors’ report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except to the extent otherwise explicitly stated in this report, any form of assurance thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify an apparent material inconsistency or material misstatement, we are required to perform procedures to conclude whether there is a material misstatement of the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report based on these responsibilities.
Page 3

 
COLLECT+ HOLDINGS LIMITED
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF COLLECT+ HOLDINGS LIMITED (CONTINUED)


With respect to the Directors' report, we also considered whether the disclosures required by the UK Companies Act 2006 have been included.

Based on our work undertaken in the course of the audit, the Companies Act 2006 requires us also to report certain opinions and matters as described below.

Directors' report
In our opinion, based on the work undertaken in the course of the audit, the information given in the Directors' report for the year ended 31 March 2024 is consistent with the financial statements and has been prepared in accordance with applicable legal requirements.

In light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we did not identify any material misstatements in the  Directors' report.

Responsibilities for the financial statements and the audit

Responsibilities of the directors for the financial statements
As explained more fully in the statement of directors' responsibilities, the directors are responsible for the preparation of the financial statements in accordance with the applicable framework and for being satisfied that they give a true and fair view. The directors are also responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors’ responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations related to Companies Act 2006 and UK tax legislation, and we considered the extent to which non-compliance might have a material effect on the financial statements. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to to posting inappropriate journal entries and management bias in accounting estimates. Audit procedures performed by the engagement team included:

Discussions with management and directors, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;

Challenging assumptions and judgements made by management in any significant accounting estimates and judgements and considering adequacy of any associated disclosures;

Identifying and testing journal entries, in particular any unusual or unexpected journals;

As required by ISA 240, an element of unpredictability was incorporated into our audit testing.


Page 4

 
COLLECT+ HOLDINGS LIMITED
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF COLLECT+ HOLDINGS LIMITED (CONTINUED)

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the FRC’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors’ report.

Use of this report
This report, including the opinions, has been prepared for and only for the company’s members as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and for no other purpose. We do not, in giving these opinions, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come save where expressly agreed by our prior consent in writing.

Other required reporting

Companies Act 2006 exception reporting  
Under the Companies Act 2006 we are required to report to you if, in our opinion: 

we have not obtained all the information and explanations we require for our audit; or

adequate accounting records have not been kept by the company, or returns adequate for our audit have not been received from branches not visited by us; or

certain disclosures of directors’ remuneration specified by law are not made; or

the financial statements are not in agreement with the accounting records and returns.


We have no exceptions to report arising from this responsibility. 

Entitlement to exemptions
Under the Companies Act 2006 we are required to report to you if, in our opinion, the directors were not entitled to: prepare financial statements in accordance with the small companies regime; take advantage of the small companies exemption in preparing the Directors' report; and take advantage of the small companies exemption from preparing a strategic report. We have no exceptions to report arising from this responsibility.




David Beer (Senior statutory auditor)
  
for and on behalf of
PricewaterhouseCoopers LLP, Statutory Auditors
Chartered Accountants
40 Clarendon Road
Watford
Hertforshire
WD17 1JJ

29 November 2024

Page 5

 
COLLECT+ HOLDINGS LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024

2024
2023
£000
£000

  

Income from shares in group undertakings
  
10,000
500

Profit before tax
  
10,000
500

Tax on profit
  
-
-

Profit for the financial year
  
10,000
500

Other comprehensive income
  
-
-

Total comprehensive income for the year
  
10,000
500

The notes on pages 9 to 14 form part of these financial statements.

Page 6

 
COLLECT+ HOLDINGS LIMITED
REGISTERED NUMBER:10520701

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£000
£000

  

  

Investments
 6 
-
-

  
-
-

Current assets
  

Debtors: amounts falling due after more than one year
 7 
398
398

Debtors: amounts falling due within one year
 7 
11,000
1,000

  
11,398
1,398

Creditors: amounts falling due within one year
 8 
(11,398)
(1,398)

Net current assets
  
 
 
-
 
 
-

Total assets less current liabilities
  
-
-

  

  

  

Net assets
  
-
-


Capital and reserves
  

Called up share capital 
 9 
-
-

Profit and loss account
 10 
-
-

Total equity
  
-
-


The Company's financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




R Harding
Director

Date: 29 November 2024

The notes on pages 9 to 14 form part of these financial statements.

Page 7

 
COLLECT+ HOLDINGS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Profit and loss account
Total equity

£000
£000
£000

At 1 April 2023
-
-
-


Comprehensive income for the year

Profit for the financial year
-
10,000
10,000
Total comprehensive income for the year
-
10,000
10,000


Contributions by and distributions to owners

Dividends
-
(10,000)
(10,000)


Total transactions with owners
-
(10,000)
(10,000)


At 31 March 2024
-
-
-



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023


Called up share capital
Profit and loss account
Total equity

£000
£000
£000

At 1 April 2022
-
-
-


Comprehensive income for the year

Profit for the financial year
-
500
500
Total comprehensive income for the year
-
500
500


Contributions by and distributions to owners

Dividends
-
(500)
(500)


At 31 March 2023
-
-
-


The notes on pages 9 to 14 form part of these financial statements.

Page 8

 
COLLECT+ HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Collect+ Holdings Limited ('the company') is a private limited company by shares and incorporated, domiciled and registered in England in the United Kingdom, under the Companies Act 2006. The nature of the Company’s operations and its principal activities are set out in the Director Report.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 101 'Reduced Disclosure Framework'  and the Companies Act 2006.
These financial statements are presented in Pounds Sterling rounded to thousands (£’000). The Pound Sterling is the currency of the primary economic environment in which the Company operates.

The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied consistently, other than where new policies have been adopted:

 
2.2

Financial Reporting Standard 101 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions under FRS 101:
the requirements of IFRS 7 Financial Instruments: Disclosures
the requirements of paragraphs 91-99 of IFRS 13 Fair Value Measurement
the requirements of IAS 7 Statement of Cash Flows
the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
the requirements of paragraph 17 and 18A of IAS 24 Related Party Disclosures
the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member
the requirements of paragraphs 130(f)(ii), 130(f)(iii), 134(d)-134(f) and 135(c)-135(e) of IAS 36 Impairment of Assets.
the requirement of new but not yet effective IFRS's.

This information is included in the consolidated financial statements of PayPoint plc for the year ended 31 March 2024 and these financial statements may be obtained from 1 The Boulevard, shire Park, Welwyn Garden City, Hertfordshire, AL7 1EL.

 
2.3

Exemption from preparing consolidated financial statements

The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.These financial statements present information about the Company as an individual undertaking and not about its group.

Page 9

 
COLLECT+ HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Going concern

Notwithstanding net current assets of £nil (2023: £nil) as at 31 March 2024, the financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the following reasons.
The Company’s forecasts and projections, taking account of reasonably possible changes in trading performance, show that the Company should be able to operate within the level of group current cash reserves and borrowings. After making enquiries, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Creditors

Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Creditors are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method.

 
2.8

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets or financial liabilities are added to or deducted from fair value on initial recognition.
 

Financial assets

Financial assets are classified depending on their nature and purpose and the classification is determined at the time of initial recognition.
Trade and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as loans and receivables. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment. Interest income is recognised by applying the effective interest rate, except for short term receivables when the recognition of interest would be immaterial.
 
Page 10

 
COLLECT+ HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)

The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts (including all fees paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the debt instrument, or, where appropriate, a shorter period, to the net carrying amount on initial recognition.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each Statement of Financial Position date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.
For certain categories of financial asset, such as trade receivables, assets that are assessed not to be impaired individually are, in addition, assessed on a collective basis.  Objective evidence of impairment for a portfolio of receivables includes past experience of collecting payments and the ageing of the receivables.
For financial assets carried at amortised cost, the amount of the impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial assets original effective interest rate.
The carrying amount of the financial asset is reduced by the impairment loss directly for all financial assets with the exception of trade receivables. A provision is created for trade receivables and any amounts that are subsequently written off are written off against the provision. Any changes in the provision are recognised in the Statement of Comprehensive Income.
If in a subsequent period the amount of the impairment loss decreases and this decrease can be related objectively to events occurring after the impairment was recognised, the previously recognised impairment loss is reversed through the profit or loss to the extent the carrying amount of the investment at the date the impairment is reversed does not exceed what the amortised cost would have been had the impairment not been recognised.
Financial assets are derecognised when and only when the contractual rights to the cash flows expire or when it transfers substantially all the risks and rewards of ownership of the asset to another entity. On derecognition of a financial asset, the difference between the asset’s carrying amount and the sum of the consideration received and receivable is recognised in the Statement of Comprehensive Income.

Financial liabilities

Financial liabilities including borrowing costs are initially measured at fair value, net of transaction costs, and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when, and only when the Company’s obligations are discharged, cancelled or they expire.

Page 11

 
COLLECT+ HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an on going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The directors have assessed that, in preparing the Company's financial statements, there are no critical accounting judgements on key sources of estimation uncertainty.

4.


Employees



The Company has no employees (2023: no) other than the directors, who did not receive any remuneration (2023 - £nil).

5.


Dividends

2024
2023
£000
£000


Dividends
10,000
500

10,000
500


6.

Investments





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Principal activity

Class of shares

Holding

Collect+ Brand Limited
1 The Boulevard, Shire Park, Welwyn Garden City, Hertfordshire, AL7 1EL
Holder of Collect+ brand
Ordinary
100%

Page 12

 
COLLECT+ HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Debtors

2024
2023
£000
£000

Amounts falling due after more than one year

Amounts owed by group undertakings
398
398

398
398


2024
2023
£000
£000

Amounts falling due within one year

Amounts owed by group undertakings
11,000
1,000

11,000
1,000


Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.


8.


Creditors: Amounts falling due within one year

2024
2023
£000
£000

Amounts owed to group undertakings
11,398
1,398

11,398
1,398


Amounts due to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.


9.


Called up share capital

2024
2023
£
£
Allotted, called up and fully paid



4 (2023 - 4) Ordinary shares of £1.00 each
4
4

Share capital represent the nominal value of shares issued.


10.


Profit and loss account

Retained earnings represents cumulative profits and losses, net of dividends paid and other adjustments.

Page 13

 
COLLECT+ HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Controlling party

The immediate and ultimate controlling party of the Company is PayPoint plc, a company registered at 1 The Boulevard, Shire Park, Welwyn Garden City, Hertfordshire, AL7 1EL.
The smallest and largest group to consolidate these financial statements is that headed by PayPoint plc. Copies of the PayPoint plc consolidated financial statements can be obtained from the Company Secretary at 1 The Boulevard, Shire Park, Welwyn Garden City, Hertfordshire, AL7 1EL. No other group financial statements include the results of the Company.

Page 14