Company No: 10520889(England and Wales)

Contents

• Company information
• Accountant's Report
• Balance Sheet
• Notes to the financial statements

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Camden Collective Holdco Limited for the year ended 31 December 2018 which comprises the Balance Sheet and the related notes 1 to 7 from the Company’s accounting records and from information and explanations you have given us.

We are subject to the ethical and other professional requirements of the Institute of Chartered Accountants in England and Wales (ICAEW) which are detailed at _http://www.icaew.com/en/members/regulations-standards-and-guidance/_

It is your duty to ensure that The Camden Collective Holdco Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and result of The Camden Collective Holdco Limited. You consider that The Camden Collective Holdco Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Camden Collective Holdco Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Board of Directors of The Camden Collective Holdco Limited, as a body, in accordance with the terms of our engagement letter dated 25 April 2019. Our work has been undertaken solely to prepare for your approval the financial statements of The Camden Collective Holdco Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Camden Collective Holdco Limited and its Board of Directors as a body for our work or for this report.

Deloitte LLP
Accountant

1 New Street Square
London
EC4A 3HQ

25 September 2019

For the year ending 31 December 2018 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

• the members have not required the Company to obtain an audit of its financial statements for the year in accordance with section 476;
• the directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements; and
• these financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of The Camden Collective Holdco Limited (registered number: 10520889) were approved and authorised for issue by the Board of Directors on 25 September 2019. They were signed on its behalf by:

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the year and to the preceding period.

General information and basis of accounting

The Camden Collective Holdco Limited (the Company) is a private company limited by shares incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 14 Bedford Square, London, WC1B 3JA, United Kingdom.

The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.

Going concern

The directors have assessed the Balance Sheet and have reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Investments
Investments in subsidiaries are accounted at cost less impairment.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax assets and liabilities are not discounted.

Consolidation

The Company is exempt by virtue of being subject to small companies regime from requirement to prepare Group financial statements. These financial statements presents information about the Company as in individual undertaking and not about its Group.

2. Employees

3. Fixed asset investments

Investments in shares

The investment balance as at 31 December 2017 has been adjusted to reflect the holdings at this date.

4. Debtors

5. Creditors: amounts falling due within one year

The amount owed to Group undertakings are interest free and repayable on demand.

The Company has a fixed and floating charge over all the property or undertaking of the Company.

6. Related party transactions

The Company has taken the qualifying entities exemptions available in FRS 102 1a to not disclose related party transactions with fellow wholly-owned Group entities.

The number of directors in the Company throughout the year was 5 (2017: 5) and there were no other employees. The directors are the only key management personnel of this Company.

7. Ultimate controlling party

The directors consider Mr M R A Merchant to be the ultimate controlling party by the virtue of his shareholding.