Collctiv Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Collctiv Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11783005 . The registered office is Colony, 5 Piccadilly Place, Manchester, England, M1 3BR.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Going Concern Disclosure

The directors acknowledge that there are uncertainties related to events or conditions that may cast significant doubt upon the company’s ability to continue as a going concern. However, the directors consider the going concern basis of preparation to remain appropriate, given the significant improvement in trading performance during the year, including a 130% increase in turnover and a 59% reduction in net loss compared to the prior year.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	25% Straight Line
Computer Equipment	33% Straight Line

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Collctiv Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.7. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 8 (2024: 14)

4. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 February 2024	1,087	22,434	23,521
Additions	-	1,416	1,416
Disposals	-	(13,358 )	(13,358 )

As at 31 January 2025	1,087	10,492	11,579

Depreciation
As at 1 February 2024	294	14,733	15,027
Provided during the period	272	5,344	5,616
Disposals	-	(12,820 )	(12,820 )

As at 31 January 2025	566	7,257	7,823

Net Book Value
As at 31 January 2025	521	3,235	3,756

As at 1 February 2024	793	7,701	8,494

5. Investments

	Unlisted
	£
Cost or Valuation
As at 1 February 2024	9

As at 31 January 2025	9

Provision
As at 1 February 2024	-

As at 31 January 2025	-

Net Book Value
As at 31 January 2025	9

As at 1 February 2024	9

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Collctiv Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

The investments at the balance sheet date include the following:

100% of the share capital of Collctiv Stores Ltd, a company registered in England.

100% of the share capital of Collctiv Inc, a company registered in the US.

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	-	1,261
Amounts owed by group undertakings	-	217,757
Other debtors	45,158	5,487

	45,158	224,505

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	1,618	15,480
Bank loans and overdrafts	29,674	29,677
Other loans	-	32,400
Amounts owed to group undertakings	36,998	220,326
Other creditors	633,943	575,338
Taxation and social security	15,146	11,804

	717,379	885,025

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	59,999	86,337
Other loans	34,992	-

	94,991	86,337

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	127	124

10. Dividends

There are no dividends issued during the year.

11. Related Party Transactions

There is an amount owed by the company to Collctiv Inc (a wholly owned subsidiary), at the year end of £nil (2024: £342,687).

The company had the following transactions with its wholly owned subsidiary, Collctiv Inc. During the year, the company wrote off an amount of $181,541.43 (£146,419.73) that was due from the subsidiary. The loan balance was written off following the subsidiary’s cessation of trading. The amount has been charged to administrative expenses in the profit and loss account.

There is an amount owed by the company to Collctiv Stores Ltd (a wholly owned subsidiary), at the year end of £36,998 (2024: £220,326).

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Collctiv Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

12. Controlling Party

There is no controlling party as there is no shareholder that owns more than 50% of the shares.

13. Inactive Pot Fees (IPF)

The Company’s Terms and Conditions provide for a £5 monthly charge on pots that have been inactive for more than twelve months. The functionality to collect this charge was implemented in April 2025.

At 31 January 2025, pots totalling £327,786 were eligible for the IPF charge. As the collection process had not yet commenced and no fees had been charged, no revenue has been recognised in the year ended 31 January 2025.

Revenue will be recognised monthly from April 2025 onwards, as the service of maintaining inactive pots is provided and the £5 charge is deducted from customer balances.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		3,756		8,494
Investments	5		9		9

			3,765		8,503
CURRENT ASSETS
Debtors	6	45,158		224,505
Cash at bank and in hand		8,076		7,148

		53,234		231,653
Creditors: Amounts Falling Due Within One Year	7	(717,379 )		(885,025 )

NET CURRENT ASSETS (LIABILITIES)			(664,145 )		(653,372 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(660,380 )		(644,869 )

Creditors: Amounts Falling Due After More Than One Year	8		(94,991 )		(86,337 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(1,074 )		(2,124 )

NET LIABILITIES			(756,445 )		(733,330 )

CAPITAL AND RESERVES
Called up share capital	9		127		124
Share premium account			1,745,596		1,431,600
Profit and Loss Account			(2,502,168 )		(2,165,054 )

SHAREHOLDERS' FUNDS			(756,445)		(733,330)