REGISTERED NUMBER: 13435538 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

BLACKSHEEP DESIGN COLLECTIVES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

8

DIRECTORS:

T J Mutton

P J L Higson

B Turner

P Mann

Ms A McNamee

REGISTERED OFFICE:

45 Queen Street

Deal

Kent

CT14 6EY

REGISTERED NUMBER:

13435538 (England and Wales)

ACCOUNTANTS:

Higson & Co (Deal) Ltd

45 Queen Street

Deal

Kent

CT14 6EY

FIXED ASSETS

Intangible assets

4

5,000

12,500

Tangible assets

5

36,099

42,623

41,099

55,123

CURRENT ASSETS

Debtors

6

551,735

611,157

Cash at bank

341,748

505,204

893,483

1,116,361

CREDITORS

Amounts falling due within one year

7

509,116

488,658

NET CURRENT ASSETS

384,367

627,703

TOTAL ASSETS LESS CURRENT LIABILITIES

425,466

682,826

CREDITORS

Amounts falling due after more than one year

8

34,009

52,386

NET ASSETS

391,457

630,440

CAPITAL AND RESERVES

Called up share capital

10

47,500

50,000

Capital redemption reserve

2,500

-

Retained earnings

341,457

580,440

SHAREHOLDERS' FUNDS

391,457

630,440

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 August 2026 and were signed on its behalf by:

T J Mutton - Director

1.	STATUTORY INFORMATION

Blacksheep Design Collectives Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on cost

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2024 - 32 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2025

and 31 December 2025

37,500

AMORTISATION

At 1 January 2025

25,000

Charge for year

7,500

At 31 December 2025

32,500

NET BOOK VALUE

At 31 December 2025

5,000

At 31 December 2024

12,500

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2025

11,710

63,361

75,071

Additions

136

14,484

14,620

At 31 December 2025

11,846

77,845

89,691

DEPRECIATION

At 1 January 2025

4,201

28,247

32,448

Charge for year

3,013

18,131

21,144

At 31 December 2025

7,214

46,378

53,592

NET BOOK VALUE

At 31 December 2025

4,632

31,467

36,099

At 31 December 2024

7,509

35,114

42,623

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

327,076

274,524

Other debtors

15,693

17,591

Tax

37,827

-

Accrued income

132,748

269,021

Prepayments

38,391

50,021

551,735

611,157

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other loans (see note 9)

69,104

52,511

Hire purchase contracts

6,987

4,924

Trade creditors

115,832

161,826

Amounts owed to associates

18,657

18,656

Tax

(38,171

)

45,289

Social security and other taxes

45,821

81,904

VAT

67,836

28,534

Other creditors

5,482

6,833

Directors' current accounts

61,165

4,971

Accruals and deferred income

156,403

83,210

509,116

488,658

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other loans (see note 9)

30,000

45,000

Hire purchase contracts

4,009

7,386

34,009

52,386

9.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Other loans

69,104

52,511

Amounts falling due between one and two years:

Other loans - 1-2 years

30,000

40,000

Amounts falling due between two and five years:

Other loans - 2-5 years

-

5,000

'Other loans' relates to a loan from a connected party (see related party disclosure) the loan is repayable in installments over 5 years at a rate of interest of 2.75%

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

95,000

Ordinary

£0.50

47,500

50,000

11.	TRANSACTIONS WITH DIRECTORS

Director's loan account:

At 31 December 2025 TJ Mutton, a Director, was owed £48,262 (2024: £4,971).

The loan disclosed in Notes 9 and 10 above relates to a loan from a business controlled by Mr T Mutton a Director. The loan was made on full commercial terms.

12.	POST BALANCE SHEET EVENTS

Following the year end, the business underwent a restructuring process. The Hotel and Luxury part of the business was demerged at the full market value of £317,000 to a separate new trading company, House of Black Design Ltd, formed for the purpose.

The process was carried out through the formation of a new Holding Company, Blacksheep Design Collectives Holdings Ltd. HMRC tax clearance was obtained on the restructure which was carried out for commercial purposes to enable both parts of the business to thrive and grow and to incentivise senior management.

The shareholders of the company became shareholders of Blacksheep Design Collective Holdings Ltd in the same proportions as in the company.

13.	ULTIMATE CONTROLLING PARTY

The controlling party is T J Mutton.

The ultimate controlling party is T J Mutton.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2025 set out on pages one to thirteen and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Higson & Co (Deal) Ltd

45 Queen Street

Deal

Kent

CT14 6EY

25 August 2026