Company Registration No. 08847391 (England and Wales)
Collidr Capital Limited
Annual report and financial statements
for the year ended 31 March 2025
Collidr Capital Limited
Contents
Page
Directors' report
1 - 2
Independent auditor's report
3 - 5
Statement of comprehensive income
6
Statement of financial position
7
Statement of changes in equity
8
Statement of cash flows
9
Notes to the financial statements
10 - 16
Collidr Capital Limited
Company information
Directors
Alexandra Steele
Symon Stickney
Heather Manners
Company number
08847391
Registered office
2nd Floor Adler House
35-36 Eagle Street
London
WC1R 4AQ
Independent auditor
Saffery LLP
71 Queen Victoria Street
London
United Kingdom
EC4V 4BE
Collidr Capital Limited
Directors' report
For the year ended 31 March 2025
1

The directors present their annual report and financial statements for the year ended 31 March 2025.

Principal activities

The principal activity of the company continued to be that of a holding company.

Results and dividends

The results for the year are set out on page 6.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Alexandra Steele
Symon Stickney
Heather Manners
Auditor

Saffery LLP have expressed their willingness to continue in office.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Collidr Capital Limited
Directors' report (continued)
For the year ended 31 March 2025
2
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Symon Stickney
Director
5 March 2026
Collidr Capital Limited
Independent auditor's report
To the members of Collidr Capital Limited
3
Opinion

We have audited the financial statements of Collidr Capital Limited (the 'company') for the year ended 31 March 2025 which comprise the statement of comprehensive income, the statement of financial position, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Collidr Capital Limited
Independent auditor's report (continued)
To the members of Collidr Capital Limited
4

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the directors' report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the directors' r eport. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit; or

- the directors were not entitled to take advantage of the small companies exemption from the requirement to prepare a strategic report.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.

Identifying and assessing risks related to irregularities:

We assessed the susceptibility of the company’s financial statements to material misstatement and how fraud might occur, including through discussions with the directors, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the company by discussions with directors and by updating our understanding of the sector in which the company operates.

Collidr Capital Limited
Independent auditor's report (continued)
To the members of Collidr Capital Limited
5

Laws and regulations of direct significance in the context of the company include The Companies Act 2006 and UK Tax legislation.

Audit response to risks identified

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the company's records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the company's policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Michael Di Leto
Senior Statutory Auditor
For and on behalf of Saffery LLP
5 March 2026
Statutory Auditors
71 Queen Victoria Street
London
United Kingdom
EC4V 4BE
Collidr Capital Limited
Statement of comprehensive income
For the year ended 31 March 2025
6
2025
2024
Notes
£
£
Turnover
3
-
-
Administrative expenses
(472,047)
(487,187)
Operating loss
4
(472,047)
(487,187)
Interest receivable and similar income
7
2,200,000
1,500,000
Profit before taxation
1,727,953
1,012,813
Tax on profit
8
-
0
-
0
Profit for the financial year
1,727,953
1,012,813

The income statement has been prepared on the basis that all operations are continuing operations.

Collidr Capital Limited
Statement of financial position
As at 31 March 2025
7
2025
2024
Notes
£
£
£
£
Fixed assets
Investments
9
2,250,100
2,250,100
Current assets
Debtors
11
3,720,864
2,015,581
Cash at bank and in hand
3,593
3,817
3,724,457
2,019,398
Creditors: amounts falling due within one year
12
(34,684)
(57,578)
Net current assets
3,689,773
1,961,820
Net assets
5,939,873
4,211,920
Capital and reserves
Called up share capital
14
35,910
35,910
Share premium account
3,545,190
3,545,190
Profit and loss reserves
2,358,773
630,820
Total equity
5,939,873
4,211,920

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

The financial statements were approved by the board of directors and authorised for issue on 5 March 2026 and are signed on its behalf by:
Symon Stickney
Director
Company Registration No. 08847391
Collidr Capital Limited
Statement of changes in equity
For the year ended 31 March 2025
8
Share capital
Share premium account
Profit and loss reserves
Total
£
£
£
£
Balance at 1 April 2023
35,910
3,545,190
(381,993)
3,199,107
Year ended 31 March 2024:
Profit and total comprehensive income
-
-
1,012,813
1,012,813
Balance at 31 March 2024
35,910
3,545,190
630,820
4,211,920
Year ended 31 March 2025:
Profit and total comprehensive income
-
-
1,727,953
1,727,953
Balance at 31 March 2025
35,910
3,545,190
2,358,773
5,939,873
Collidr Capital Limited
Statement of cash flows
For the year ended 31 March 2025
9
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash absorbed by operations
18
(2,200,224)
(1,552,859)
Investing activities
Dividends received
2,200,000
1,500,000
Net cash generated from investing activities
2,200,000
1,500,000
Net decrease in cash and cash equivalents
(224)
(52,859)
Cash and cash equivalents at beginning of year
3,817
56,676
Cash and cash equivalents at end of year
3,593
3,817
Collidr Capital Limited
Notes to the financial statements
For the year ended 31 March 2025
10
1
Accounting policies
Company information

Collidr Capital Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2nd Floor Adler House, 35-36 Eagle Street, London, WC1R 4AQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The financial statements contain information about Collidr Capital Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 399 of the Companies Act 2006 not to prepare consolidated financial statements.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.4
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 current liabilities.

Collidr Capital Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies (continued)
11
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Collidr Capital Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies (continued)
12
1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Critical accounting 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 amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Revenue
2025
2024
£
£
Other significant income
Dividends received
2,200,000
1,500,000
4
Operating loss
2025
2024
Operating loss for the year is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
9,250
8,900
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Management and administration
2
2
Collidr Capital Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
5
Employees (continued)
13

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
303,992
314,229
Social security costs
40,185
40,449
Pension costs
8,915
8,615
353,092
363,293
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
156,825
153,562
7
Interest receivable and similar income
2025
2024
£
£
Income from fixed asset investments
Income from shares in group undertakings
2,200,000
1,500,000
8
Taxation

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
1,727,953
1,012,813
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
431,988
253,203
Tax effect of expenses that are not deductible in determining taxable profit
258
-
0
Tax effect of income not taxable in determining taxable profit
(550,000)
(375,000)
Change in unrecognised deferred tax assets
(215)
-
0
Adjustments in respect of prior years
-
0
(173)
Losses surrendered
117,969
121,970
Taxation charge for the year
-
-
Collidr Capital Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
14
9
Fixed asset investments
2025
2024
Notes
£
£
Investments in subsidiaries
10
2,250,100
2,250,100
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 April 2024 & 31 March 2025
2,250,100
Carrying amount
At 31 March 2025
2,250,100
At 31 March 2024
2,250,100
10
Subsidiaries

Details of the company's subsidiaries at 31 March 2025 are as follows:

Name of undertaking
Country
Nature of business
Class of
% Held
shares held
Direct
Collidr Technologies Limited
England & Wales
Investment research and technology development
Ordinary
100
Collidr Asset Management Limited
England & Wales
Discretionary fund manager
Ordinary
100
11
Debtors
2025
2024
£
£
Amounts due from group undertakings
3,720,864
2,015,581
12
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
4,360
7,357
Taxation and social security
12,520
12,135
Other creditors
1,738
1,680
Accruals and deferred income
16,066
36,406
34,684
57,578
Collidr Capital Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
15
13
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
8,915
8,615

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

14
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
35,910
35,910
35,910
35,910
15
Ultimate controlling party

The company is a wholly owned subsidiary of Independent Strategic Group (ISG) Limited, a company registered in Jersey. The directors do not deem there to be one ultimate controlling party.

16
Related party transactions

As at 31 March 2025 the parent company Independent Strategic Group (ISG) Limited owed the company £464,121 (2024: £149,289).

As at 31 March 2025 the company was owed £3,256,743 (2024: £1,862,657) from Collidr Technologies Limited. The company is wholly owned by Collidr Capital Limited.

During the year ended 31 March 2025, £40,000 (2024: £40,000) was paid to a non-executive director of the company in respect of fees for services rendered. At the year end £nil (2024: £10,000) was due to the director.

17
Analysis of changes in net funds
1 April 2024
Cash flows
31 March 2025
£
£
£
Cash at bank and in hand
3,817
(224)
3,593
Collidr Capital Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
16
18
Cash absorbed by operations
2025
2024
£
£
Profit for the year after tax
1,727,953
1,012,813
Adjustments for:
Dividends received
(2,200,000)
(1,500,000)
Movements in working capital:
Increase in debtors
(1,705,283)
(932,924)
Decrease in creditors
(22,894)
(132,748)
Cash absorbed by operations
(2,200,224)
(1,552,859)
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