theCOLAB LTD


Directors	COLOCCI, Anne Elizabeth Pryor
	HODBY, Alexandra, Dr
	KHAN, Aryana
	MANDER, Claire Robertson


Registered Address	22 Victora Square
	London
	SW1W 0RB


Registered Number	15398352 (England and Wales)

Notes to the Financial Statements
for the period ended 31 January 2025

1.	Accounting policies

	Statutory information
	theCOLAB Ltd is a registered charity in England and Wales and is incorporated. It meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). The company's registered number and registered office address can be found on the Company Information page.

Statutory information

theCOLAB Ltd is a registered charity in England and Wales and is incorporated. It meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Public benefit entity
	All activities reflect the trustees’ duty to provide public benefit as required by section 4 of the Charities Act 2011. The directors confirm they have complied with the Charity Commission’s guidance on public benefit.

	Going concern
	After reviewing the company's forecasts and projections, 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 of accounting in preparing its financial statements.

	Judgements 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 values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations 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 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 critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.

Judgements 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 values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations 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 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 critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.

	Turnover policy
	All income is recognised once the charitable company has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably. Donations and legacies Donations are recognised when the charity has been notified in writing of both the amount and settlement date. Donations and legacies include voluntary donations from individuals, corporates and other groups including recovered Gift Aid where appropriate. Donated services Donated services are recognised when the services have been received and the fair value to the charity of the donated service can be measured reliably. Grants receivable Grants, excluding government grants, are recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received, and the amount can be measured reliably and is not deferred. Government Grants are recognised when receivable. Deferred income Deferred income represents amounts received for future periods and is released to incoming resources in the period for which it has been received. Such income is only deferred when: - The donor specifies that the grant or donation must only be used in future accounting periods; or - The donor has imposed conditions which must be met before the charity has unconditional entitlement.

Turnover policy

All income is recognised once the charitable company has entitlement to the income, it is probable
that the income will be received and the amount of the income receivable can be measured reliably.

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and
settlement date. Donations and legacies include voluntary donations from individuals, corporates
and other groups including recovered Gift Aid where appropriate.

Donated services

Donated services are recognised when the services have been received and the fair value to the
charity of the donated service can be measured reliably.

Grants receivable

Grants, excluding government grants, are recognised when the charity has entitlement to the funds,
any performance conditions attached to the grants have been met, it is probable that the income
will be received, and the amount can be measured reliably and is not deferred. Government Grants
are recognised when receivable.

Deferred income

Deferred income represents amounts received for future periods and is released to incoming
resources in the period for which it has been received. Such income is only deferred when: - The
donor specifies that the grant or donation must only be used in future accounting periods; or - The
donor has imposed conditions which must be met before the charity has unconditional entitlement.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	The charitable company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charitable company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gai Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Current taxation

The charitable company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charitable company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gai Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Cash and cash equivalents
	Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investment with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

	Trade and other creditors
	Creditors are recognised where the organisation has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Other creditors and accruals are recognised at their settlement amount due.

	Financial instruments
	The organisation only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

	Related parties
	Alice Mander, daughter of Claire Mander, was paid £120.00 for event hosting assistance and related expenses. Thea Mander, daughter of Claire Mander, was paid £155.48 for event hosting assistance and related expenses. theCOLAB Temple Ltd donated £415.40 income to the Charity being proceeds from sales of limited edition prints by artist Holly Hendry.

2.	Average number of employees


		2025
	Average number of employees during the year	0

3.	Further information regarding the company's income
	Income consists of cash donations, grants and donated services including Gift Aid where applicable. Legal fees of £61,315 in the period were one-off benefit in kind donated by Debevoise legal services to assist with the charity formation and company structure.

4.	Creditors: amounts due within one year

		2025
		£
	Trade creditors / trade payables	141
	Bank borrowings and overdrafts	337
	Accrued liabilities and deferred income	41,445
	Total	41,923

	Notes	2025
		£	£
Current assets
Debtors		15,082
Cash at bank and on hand		214,574
		229,656
Creditors amounts falling due within one year	4	(41,923)
Net current assets (liabilities)			187,733
Total assets less current liabilities			187,733
Net assets			187,733
Capital and reserves
Other reserves			187,733
Reserves			187,733