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Company No: 11546270 (England and Wales)

CHACE PEOPLE LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

CHACE PEOPLE LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

CHACE PEOPLE LIMITED

BALANCE SHEET

As at 31 December 2024
CHACE PEOPLE LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 2,048 2,560
Tangible assets 4 2,897 4,793
4,945 7,353
Current assets
Debtors 5 176,946 35,831
Cash at bank and in hand 29,334 7,595
206,280 43,426
Creditors: amounts falling due within one year 6 ( 197,421) ( 34,993)
Net current assets 8,859 8,433
Total assets less current liabilities 13,804 15,786
Creditors: amounts falling due after more than one year 7 ( 220) ( 2,740)
Net assets 13,584 13,046
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 13,484 12,946
Total shareholders' funds 13,584 13,046

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of CHACE PEOPLE LIMITED (registered number: 11546270) were approved and authorised for issue by the Board of Directors on 12 February 2025. They were signed on its behalf by:

Mr F Bay
Director
CHACE PEOPLE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
CHACE PEOPLE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

CHACE PEOPLE 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 1 Lyric Square, London, W6 0NB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and 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 and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities.

Employee benefits

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

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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 5

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 January 2024 2,560 2,560
At 31 December 2024 2,560 2,560
Accumulated amortisation
At 01 January 2024 0 0
Charge for the financial year 512 512
At 31 December 2024 512 512
Net book value
At 31 December 2024 2,048 2,048
At 31 December 2023 2,560 2,560

4. Tangible assets

Office equipment Total
£ £
Cost
At 01 January 2024 11,849 11,849
Additions 116 116
At 31 December 2024 11,965 11,965
Accumulated depreciation
At 01 January 2024 7,056 7,056
Charge for the financial year 2,012 2,012
At 31 December 2024 9,068 9,068
Net book value
At 31 December 2024 2,897 2,897
At 31 December 2023 4,793 4,793

5. Debtors

2024 2023
£ £
Trade debtors 168,446 0
Amounts owed by associates 8,500 8,500
Other debtors 0 27,331
176,946 35,831

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 2,582 2,674
Trade creditors 0 629
Taxation and social security 97,739 18,820
Other creditors 97,100 12,870
197,421 34,993

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 220 2,740

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 24,580 24,360

The company has a rental lease running on an annual renewal basis.

10. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
Amounts owed by associate company 8,500 8,500

During the 2022 financial year the company loaned £8,500 to it's associate company, controlled by the directors. No repayments have been made on this loan since it's advance. No interest is being charged on the loan and is repayable on demand.

Transactions with the entity's directors

2024 2023
£ £
Opening balance 24,983 (1,389)
Movement during the year (24,983) 26,372
Closing balance 0 24,983
0 0

During the year, the Company made advances of £148,875 to the Directors. Repayments of £174,199 were made and the loan was repaid in full during the year. Interest was charged on these loans at the official rate.