REGISTERED NUMBER: OC440271 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

COLLECTIVE SHIFT LLP

Page

General Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

R A Bush

Miss S Richardson

REGISTERED OFFICE:

Jackson House

Station Road

Chingford

London

E4 7BU

BUSINESS ADDRESS:

50 Highbury Hill

London

N5 1AP

REGISTERED NUMBER:

OC440271 (England and Wales)

ACCOUNTANTS:

Barrow LLP

Chartered Accountants

Jackson House

Station Road

Chingford

London

E4 7BU

FIXED ASSETS

Tangible assets

5

38,173

55,484

CURRENT ASSETS

Debtors

6

122,810

74,377

Cash at bank

2,696

127

125,506

74,504

CREDITORS

Amounts falling due within one year

7

(112,050

)

(39,468

)

NET CURRENT ASSETS

13,456

35,036

TOTAL ASSETS LESS CURRENT LIABILITIES

51,629

90,520

CREDITORS

Amounts falling due after more than one year

8

(10,707

)

(31,548

)

NET ASSETS ATTRIBUTABLE TO MEMBERS

40,922

58,972

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

40,922

58,972

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

40,922

58,972

Amounts due from members

6

(58,167

)

(40,116

)

(17,245

)

18,856

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 December 2024.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 29 December 2025 and were signed by:

R A Bush - Designated member

1.	STATUTORY INFORMATION

Collective Shift LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles

-

20% on cost

Computer equipment

-

20% on cost

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4.	EMPLOYEE INFORMATION

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

5.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

90,000

3,305

93,305

Additions

-

1,687

1,687

At 31 December 2024

90,000

4,992

94,992

DEPRECIATION

At 1 January 2024

37,500

321

37,821

Charge for year

18,000

998

18,998

At 31 December 2024

55,500

1,319

56,819

NET BOOK VALUE

At 31 December 2024

34,500

3,673

38,173

At 31 December 2023

52,500

2,984

55,484

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2024

and 31 December 2024

90,000

DEPRECIATION

At 1 January 2024

37,500

Charge for year

18,000

At 31 December 2024

55,500

NET BOOK VALUE

At 31 December 2024

34,500

At 31 December 2023

52,500

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

7,589

18,829

Amounts due from members

58,167

40,116

Related party

57,054

15,000

VAT

-

432

122,810

74,377

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

20,936

20,936

Trade creditors

64,603

12,082

Taxation and social security

23,311

-

Other creditors

3,200

6,450

112,050

39,468

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

10,707

31,548

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up. There is no provision for specific legally enforceable protection afforded to creditors in such an event.There are no restrictions or limitations on the ability of the members to reduce the amount of ‘Members’ other interests'.