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Registered number: 03723218 THE KOBAL COLLECTION LIMITED FINANCIAL STATMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
THE KOBAL COLLECTION LIMITED COMPANY INFORMATION
DIRECTORS | A. J. Cohen
| A. M. Craven
| L. Dives
| W. M. Dives
| D. Kent
| M. Hinrich
| C. D. Smedley
REGISTERED NUMBER | 03723218
REGISTERED OFFICE | 56 Milverton Road
| London
| NW6 7AP
THE KOBAL COLLECTION LIMITED CONTENTS
| Page
Balance Sheet | 1
Notes to the Financial Statements | 2 - 5
THE KOBAL COLLECTION LIMITED REGISTERED NUMBER: 03723218 BALANCE SHEET AS AT 30 SEPTEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
FIXED ASSETS |  |  |  |  |
Tangible assets | 4 |  | 2,004,492 |  | 2,004,492
CURRENT ASSETS |  |  |  |  |
Debtors | 5 | 19,339 |  | 16,879 |
Cash at bank and in hand |  | 13,645 |  | 1,287 |
|  | 32,984 |  | 18,166 |
Creditors: amounts falling due within one year | 6 | (308,900) |  | (248,018) |
NET CURRENT LIABILITIES |  |  | (275,916) |  | (229,852)
NET ASSETS |  |  | 1,728,576 |  | 1,774,640
CAPITAL AND RESERVES |  |  |  |  |
Allotted, called up and fully paid share capital |  |  | 1,022,094 |  | 1,022,094
Profit and loss account |  |  | 706,482 |  | 752,546
EQUITY SHAREHOLDERS' FUNDS |  |  | 1,728,576 |  | 1,774,640
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. 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. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the Directors' Report and the Statement of Income and Retained Earnings in accordance with provisions applicable to companies subject to the small companies regime, under section 444 of the Companies Act 2006. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 February 2026.
W. M. Dives
Director
The notes on pages 2 to 5 form part of these financial statements. Page 1
THE KOBAL COLLECTION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
1. | GENERAL INFORMATION
The Kobal Collection Limited (registered number: 03723218), having its registered office and principal place of business at 56 Milverton Road, London, NW6 7AP, is a private limited company incorporated in England and Wales. 2.ACCOUNTING POLICIES
| 2.1 | BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The following principal accounting policies have been applied:
| 2.2 | STATEMENT OF CASH FLOWS
The Company has taken advantage of the exemption in Financial Reporting Standard 102, Section 1A.7 from the requirement to produce a Statement of Cash Flows on the grounds that it is a small company.
| 2.3 | TURNOVER
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised: Sale of goods Turnover from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of turnover can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
| 2.4 | TAXATION
Tax is recognised in the Statement of Income and Retained Earnings. The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.
| 2.5 | TANGIBLE FIXED ASSETS
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. Page 2
THE KOBAL COLLECTION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 2.ACCOUNTING POLICIES (continued)
| 2.5 | TANGIBLE FIXED ASSETS (CONTINUED)
Depreciation is provided on the following basis:
|  |  |  | Collection prints and photos | - | Not depreciated
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.
| 2.6 | DEBTORS
Short-term debtors are measured at transaction price, less any impairment.
| 2.7 | CASH AND CASH EQUIVALENTS
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
| 2.8 | CREDITORS
Short-term creditors are measured at the transaction price.
| 2.9 | FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the Balance Sheet date. Page 3
THE KOBAL COLLECTION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
3. | EMPLOYEES
| The average monthly number of employees, including directors, during the year was 7 (2024 - 7).
4. | TANGIBLE FIXED ASSETS
|  | Collection prints and photos
|  | £
| COST |
| At 1 October 2023 and 30 September 2024 | 2,004,492
| NET BOOK VALUE |
| At 30 September 2025 | 2,004,492
| At 30 September 2024 | 2,004,492
5. | DEBTORS
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Amounts owed by group undertakings | 16,725 | 14,265
| Other debtors | 2,614 | 2,614
|  | 19,339 | 16,879
6. | CREDITORS: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | - | 250
| Other creditors | 304,128 | 245,128
| Accruals and deferred income | 4,772 | 2,640
|  | 308,900 | 248,018
Page 4
THE KOBAL COLLECTION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
7. | RELATED PARTY TRANSACTIONS
Included within other creditors are amounts owed to directors of £304,128 (2023: £245,128). The Company has taken advantage of Section 33.1A of FRS 102 in not disclosing transactions between wholly-owned members of a group.
Page 5