Company No: 11518704 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	3	1,813,262		1,578,525
Tangible assets	4	76,113		156,531
Investments	5	600		600
		1,889,975		1,735,656
Current assets
Stocks		9,819		0
Debtors	6	1,156,742		1,644,190
Cash at bank and in hand		109,503		306,166
		1,276,064		1,950,356
Creditors: amounts falling due within one year	7	( 634,302)		( 518,197)
Net current assets		641,762		1,432,159
Total assets less current liabilities		2,531,737		3,167,815
Provision for liabilities		( 364,407)		( 316,309)
Net assets		2,167,330		2,851,506
Capital and reserves
Called-up share capital	8	1		1
Share premium account		440,000		440,000
Profit and loss account		1,727,329		2,411,505
Total shareholders' funds		2,167,330		2,851,506

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of The Collecting Group Ltd (registered number: 11518704) were approved and authorised for issue by the Board of Directors on 05 September 2025. They were signed on its behalf by:

E Lovett Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

The Collecting Group Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp, 10 Temple Back, Bristol, United Kingdom, BS1 6FL. Its registered number is 11518704.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.

The functional currency of Collecting Cars Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
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.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software	5 years straight line
Development costs	5 years straight line
Trademarks, patents and licences	5 years straight line
Other intangible assets	5 years straight line

Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, except where the directors are satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the Company is expected to benefit. This period is between five years. Provision is made for any impairment.

Trademarks, patents and licences

Separately acquired patents and trademarks are included at cost and amortised in equal annual instalments over a period of 5 years which is their estimated useful economic life. Provision is made for any impairment.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Leasehold improvements	5 years straight line
Vehicles	4 years straight line
Computer equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

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

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 deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	47		49

3. Intangible assets

	Computer software		Development costs		Trademarks, patents and licences		Other intangible assets		Total
	£		£		£		£		£
Cost
At 01 January 2024	72,950		2,063,555		156,735		58,169		2,351,409
Additions	0		742,476		22,668		0		765,144
At 31 December 2024	72,950		2,806,031		179,403		58,169		3,116,553
Accumulated amortisation
At 01 January 2024	35,407		659,892		50,439		27,146		772,884
Charge for the financial year	14,590		470,355		33,828		11,634		530,407
At 31 December 2024	49,997		1,130,247		84,267		38,780		1,303,291
Net book value
At 31 December 2024	22,953		1,675,784		95,136		19,389		1,813,262
At 31 December 2023	37,543		1,403,663		106,296		31,023		1,578,525

4. Tangible assets

	Leasehold improve- ments		Vehicles		Computer equipment		Total
	£		£		£		£
Cost
At 01 January 2024	54,176		76,331		220,827		351,334
Additions	0		0		13,130		13,130
Disposals	0		0		( 15,983)		( 15,983)
At 31 December 2024	54,176		76,331		217,974		348,481
Accumulated depreciation
At 01 January 2024	21,633		43,591		129,579		194,803
Charge for the financial year	10,835		19,083		59,845		89,763
Disposals	0		0		( 12,198)		( 12,198)
At 31 December 2024	32,468		62,674		177,226		272,368
Net book value
At 31 December 2024	21,708		13,657		40,748		76,113
At 31 December 2023	32,543		32,740		91,248		156,531

5. Fixed asset investments

Investments in subsidiaries

	2024
	£
Cost
At 01 January 2024	600
At 31 December 2024	600
Carrying value at 31 December 2024	600
Carrying value at 31 December 2023	600

Investments in shares

Name of entity	Registered office	Principal activity	Class of shares	Ownership 31.12.2024	Ownership 31.12.2023
Collecting Cars UK Limited	C/O Bishop Fleming LLP, 10 Temple Back, Bristol, BS1 6FL	Online auction platform for collectibles	Ordinary	100.00%	100.00%
Collecting Cars EU Limited	C/O Bishop Fleming LLP, 10 Temple Back, Bristol, BS1 6FL	Online auction platform for collectibles	Ordinary	100.00%	100.00%
Collecting Cars US Limited	C/O Bishop Fleming LLP, 10 Temple Back, Bristol, BS1 6FL	Online auction platform for collectibles	Ordinary	100.00%	100.00%
Collecting Cars APAC Limited	C/O Bishop Fleming LLP, 10 Temple Back, Bristol, BS1 6FL	Online auction platform for collectibles	Ordinary	100.00%	100.00%
Watch Collecting Limited	C/O Bishop Fleming LLP, 10 Temple Back, Bristol, BS1 6FL	Online auction platform for collectibles	Ordinary	100.00%	100.00%
Collecting Cars Private Sales Limited	C/O Bishop Fleming LLP, 10 Temple Back, Bristol, BS1 6FL	Sale of collectible cars	Ordinary	100.00%	100.00%

6. Debtors

	2024		2023
	£		£
Trade debtors	644		3
Amounts owed by own subsidiaries	785,514		1,004,181
Prepayments	158,100		169,010
VAT recoverable	82,282		92,874
Corporation tax	0		128,284
Other debtors	130,202		249,838
	1,156,742		1,644,190

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	91,628		94,859
Amounts owed to Group undertakings	168,765		194,290
Amounts owed to directors	100,000		0
Accruals	100,522		93,047
Other taxation and social security	143,387		136,001
Other creditors	30,000		0
	634,302		518,197

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
13,549 Ordinary shares of £ 0.0001 each	1		1

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2024		2023
	£		£
within one year	202,431		269,908
between one and five years	0		202,431
	202,431		472,339

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

	2024		2023
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	12,455		12,114

10. Related party transactions

Transactions with the entity's directors

	2024		2023
	£		£
Amounts owed to director	100,000		0

Interest was charged at 10% for the first 6 month period of the loan and fixed at £10k. The repayment was not not made by the due date and interest on the unpaid amount continues to accrue at 5% per month. The loan and interest are repayable on demand.

As a parent company of wholly owned subsidiary undertakings, the company has taken advantage of the exemption in paragraph 1AC.35 of FRS102 in not disclosing group transactions and balances where 100% of the voting rights are controlled within the group.