Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31falsefalse2023-06-013The principal activity of the company is to adminster the funds for CEO I and III.3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10770510 2023-06-01 2024-03-31 10770510 2022-04-01 2023-05-31 10770510 2024-03-31 10770510 2023-05-31 10770510 c:Director1 2023-06-01 2024-03-31 10770510 d:ComputerEquipment 2023-06-01 2024-03-31 10770510 d:ComputerEquipment 2024-03-31 10770510 d:ComputerEquipment 2023-05-31 10770510 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-03-31 10770510 d:CurrentFinancialInstruments 2024-03-31 10770510 d:CurrentFinancialInstruments 2023-05-31 10770510 c:OrdinaryShareClass1 2023-06-01 2024-03-31 10770510 c:OrdinaryShareClass1 2024-03-31 10770510 c:OrdinaryShareClass1 2023-05-31 10770510 c:OrdinaryShareClass2 2023-06-01 2024-03-31 10770510 c:OrdinaryShareClass2 2024-03-31 10770510 c:OrdinaryShareClass2 2023-05-31 10770510 c:OrdinaryShareClass3 2023-06-01 2024-03-31 10770510 c:OrdinaryShareClass3 2024-03-31 10770510 c:OrdinaryShareClass3 2023-05-31 10770510 c:FRS102 2023-06-01 2024-03-31 10770510 c:AuditExemptWithAccountantsReport 2023-06-01 2024-03-31 10770510 c:FullAccounts 2023-06-01 2024-03-31 10770510 c:PrivateLimitedCompanyLtd 2023-06-01 2024-03-31 10770510 e:PoundSterling 2023-06-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10770510









COLLECTIVE EQUITY OWNERSHIP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
COLLECTIVE EQUITY OWNERSHIP LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF COLLECTIVE EQUITY OWNERSHIP LIMITED
FOR THE PERIOD ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Collective Equity Ownership Limited for the period ended 31 March 2024 which comprise  the Statement of Financial Position 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 Collective Equity Ownership Limited, as a body, in accordance with the terms of our engagement letter dated 03/06/2024Our work has been undertaken solely to prepare for your approval the financial statements of Collective Equity Ownership Limited and state those matters that we have agreed to state to the Board of Directors of Collective Equity Ownership Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Collective Equity Ownership Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Collective Equity Ownership 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 Collective Equity Ownership Limited. You consider that Collective Equity Ownership Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of Collective Equity Ownership 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.

  



Haggards Crowther LLP
 
19, Heathmans House
Heathmans Road
London
SW6 4TJ
5 February 2025
Page 1

 
COLLECTIVE EQUITY OWNERSHIP LIMITED
REGISTERED NUMBER: 10770510

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

31 March
31 May
2024
2023
£
£


Fixed assets
1,567
959

Current assets
646,502
78,692

Creditors: amounts falling due within one year
(581,632)
(107,685)

Net current assets/(liabilities)
 
 
64,870
 
 
(28,993)

Total assets less current liabilities
66,437
(28,034)


Net assets/(liabilities)
66,437
(28,034)



Capital and reserves
66,437
(28,034)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 February 2025.




Tristan Daniel Schnegg
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
COLLECTIVE EQUITY OWNERSHIP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

Collective Equity Ownership Limited (CRN : 10770510) is a company registered in England & Wales and its registered office is 2b Spelman Street, London, E1 5LQ, England

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis, which assumes that the Company will continue in operational existence for the foreseeable future. The Directors have considered the Company’s financial position, projected cash flows, and available funding sources in assessing its ability to continue as a going concern.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
COLLECTIVE EQUITY OWNERSHIP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33%
on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets
Page 4

 
COLLECTIVE EQUITY OWNERSHIP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)


Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the
Page 5

 
COLLECTIVE EQUITY OWNERSHIP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)

derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.


3.


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


4.


Employees

2024
2023
£
£

Wages and salaries
158,670
133,231

Social security costs
17,698
-

Cost of defined contribution scheme
4,011
8,297

180,379
141,528


The average monthly number of employees, including directors, during the period was 3 (2023 - 3).

Page 6

 
COLLECTIVE EQUITY OWNERSHIP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

5.


Tangible fixed assets







Computer equipment

£



Cost or valuation


At 1 June 2023
2,047


Additions
1,049



At 31 March 2024

3,096



Depreciation


At 1 June 2023
1,088


Charge for the period on owned assets
441



At 31 March 2024

1,529



Net book value



At 31 March 2024
1,567



At 31 May 2023
959


6.


Debtors

31 March
31 May
2024
2023
£
£


Other debtors
146,052
2,942

Prepayments and accrued income
426,807
-

572,859
2,942


Page 7

 
COLLECTIVE EQUITY OWNERSHIP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

7.


Cash and cash equivalents

31 March
31 May
2024
2023
£
£

Cash at bank and in hand
73,642
75,750

73,642
75,750



8.


Creditors: Amounts falling due within one year

31 March
31 May
2024
2023
£
£

Trade creditors
368,371
-

Other creditors
661
103,485

Accruals and deferred income
212,600
4,200

581,632
107,685



9.


Share capital

31 March
31 May
2024
2023
£
£
Allotted, called up and fully paid



285,020 (2023 - 221,000) Ordinary A Shares shares of £0.001 each
285
221
680,000 (2023 - 680,000) Ordinary B Shares shares of £0.001 each
680
680
150,000 (2023 - 150,000) Ordinary C Shares shares of £0.001 each
150
150

1,115

1,051




Page 8

 
COLLECTIVE EQUITY OWNERSHIP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

10.


Share Premium account

31 March
2024
£



Share premium - equity b/fwd
(689,069)

Share premium - equity additions
(598,438)

(1,287,507)

Page 9