Better Collective UK Services Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 06062710 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Better Collective UK Services Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

I J Bowden

REGISTERED OFFICE:

76 St Johns Road

Tunbridge Wells

Kent

TN4 9PH

REGISTERED NUMBER:

06062710 (England and Wales)

ACCOUNTANTS:

Figures Limited

76 St Johns Road

Tunbridge Wells

Kent

TN4 9PH

FIXED ASSETS

Tangible assets

4

1,164,115

1,464,966

CURRENT ASSETS

Debtors

5

1,528,583

964,891

Cash at bank

936,319

693,976

2,464,902

1,658,867

CREDITORS

Amounts falling due within one year

6

1,236,681

969,710

NET CURRENT ASSETS

1,228,221

689,157

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,392,336

2,154,123

CREDITORS

Amounts falling due after more than one
year

7

878,104

1,133,790

NET ASSETS

1,514,232

1,020,333

CAPITAL AND RESERVES

Called up share capital

2

Other reserves

536,296

239,776

Retained earnings

977,934

780,555

SHAREHOLDERS' FUNDS

1,514,232

1,020,333

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 June 2025 and were signed by:

I J Bowden - Director

1.	STATUTORY INFORMATION

Better Collective UK Services Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

20% on cost

Plant and machinery etc

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 92 (2023 - 63 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 January 2024

1,474,392

187,379

1,661,771

Additions

3,939

80,253

84,192

At 31 December 2024

1,478,331

267,632

1,745,963

DEPRECIATION

At 1 January 2024

61,829

134,976

196,805

Charge for year

295,832

89,211

385,043

At 31 December 2024

357,661

224,187

581,848

NET BOOK VALUE

At 31 December 2024

1,120,670

43,445

1,164,115

At 31 December 2023

1,412,563

52,403

1,464,966

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Other debtors

1,528,583

964,891

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

-

319

Trade creditors

12,992

6,216

Taxation and social security

387,497

280,986

Other creditors

836,192

682,189

1,236,681

969,710

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.12.23

£

Other creditors

878,104

1,133,790

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

Within one year

316,181

284,487

Between one and five years

878,104

1,133,790

1,194,285

1,418,277

The Company has entered into a 5-year lease agreement for an office space at 90 Bartholomew Close, London, EC1A 7BN.

This has been recognised as a Company asset and depreciated using the straight-line basis over 5 years.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Better Collective A/S, a company registered in Denmark. It's registered office is Sankt Annae Plads 28, 1250 Copenhagen, Denmark.

10.	SHARE-BASED PAYMENT TRANSACTIONS

The ultimate parent, Better Collective A/S, operates a number of equity settled share-based payment arrangements under which the Company receives services from employees in consideration for equity instruments (share options and shares) of Better Collective A/S.

The purpose of these share-based payment plans is to appropriately attract, retain, motivate and reward selected key staff in Better Collective. The intent is also to support sustainable value creation for the shareholders as well as aligning the interests of participants in the plans to those of the Company's shareholders.

The fair value of share-based payments is determined using the Black-Scholes pricing model. Volatility is calculated based on historical daily returns for the BETCO stock.