CHAP 19 LTD

Company Registration Number:
11534309 (England and Wales)

Unaudited abridged accounts for the year ended 31 August 2023

Period of accounts

Start date: 01 September 2022

End date: 31 August 2023

CHAP 19 LTD

Contents of the Financial Statements

for the Period Ended 31 August 2023

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 9

CHAP 19 LTD

Company Information

for the Period Ended 31 August 2023




Registered office: 9
Sandys Row
London
England
E1 7HW
Company Registration Number: 11534309 (England and Wales)

CHAP 19 LTD

Balance sheet

As at 31 August 2023


Notes

2023
£

2022
£
Fixed assets
Intangible assets: 4 1,880,354 1,990,000
Tangible assets: 5 1,361 1,846
Total fixed assets: 1,881,715 1,991,846
Current assets
Debtors: 178,632 39,816
Cash at bank and in hand: 447,922 820,672
Total current assets: 626,554 860,488
Creditors: amounts falling due within one year: ( 220,860 ) ( 464,607 )
Net current assets (liabilities): 405,694 395,881
Total assets less current liabilities: 2,287,409 2,387,727
Creditors: amounts falling due after more than one year: ( 1,342 )
Accruals and deferred income: ( 2,284,114 ) ( 2,284,114 )
Total net assets (liabilities): 1,953 103,613

The notes form part of these financial statements

CHAP 19 LTD

Balance sheet continued

As at 31 August 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: 953 102,613
Shareholders funds: 1,953 103,613

For the year ending 31 August 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 1 September 2023
And Signed On Behalf Of The Board By:

Name: Alfredo Ruggieri
Status: Director

The notes form part of these financial statements

CHAP 19 LTD

Notes to the Financial Statements

for the Period Ended 31 August 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

CHAP 19 LTD

Notes to the Financial Statements

for the Period Ended 31 August 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 2 2

CHAP 19 LTD

Notes to the Financial Statements

for the Period Ended 31 August 2023

  • 3. Off balance sheet disclosure

    No

CHAP 19 LTD

Notes to the Financial Statements

for the Period Ended 31 August 2023

  • 4. Intangible assets

    Total
    Cost £
    At 01 September 2022 1,990,000
    Additions 306,750
    Disposals -
    Revaluations -
    Transfers -
    At 31 August 2023 2,296,750
    Amortisation
    Charge for year 416,396
    On disposals -
    Other adjustments -
    Amortisation at 31 August 2023 416,396
    Net book value
    Net book value at 31 August 2023 1,880,354
    Net book value at 31 August 2022 1,990,000

    Note : Commitment to Share Subscriptions for Charity Project
    and Future Lease Commitment.

CHAP 19 LTD

Notes to the Financial Statements

for the Period Ended 31 August 2023

5. Tangible Assets

Total
Cost £
At 01 September 2022 1,846
Additions -
Disposals -
Revaluations -
Transfers -
At 31 August 2023 1,846
Depreciation
At 01 September 2022 -
Charge for year 485
On disposals -
Other adjustments -
At 31 August 2023 485
Net book value
At 31 August 2023 1,361
At 31 August 2022 1,846

CHAP 19 LTD

Notes to the Financial Statements

for the Period Ended 31 August 2023

  • 6. Financial Commitments

    Lease Obligation
    Future Lease Commitment: The Company has entered into a binding agreement to enter into an operating lease for office space. The lease term will be 12 years, commencing no later than three years from the date of the agreement, which was signed in 2021. Key details of the lease obligation are as follows:

    Lease Term: 12 years

    Commencement Date: No later than 2024

    Initial Deposit: At least £250,000

    Monthly Payments: To be determined upon lease commencement

    Initial Deposit: An initial deposit of at least £200,000 is required before the lease commencement date. This amount will be recorded as a prepaid lease expense and subsequently reclassified as a right-of-use asset upon lease commencement, in accordance with IFRS 16.

    Provision for Lease Obligation: The initial deposit obligation is recognized as a provision under IAS 37 in the financial statements, reflecting the present obligation to make this payment in the future.

    Disclosure of Lease Payments: The Company will provide further details on the specific lease payments and terms upon the commencement of the lease. The lease payments will be recognized as expenses over the lease term.

    Commitment: The Company is committed to entering into this lease agreement, which is expected to commence no later than three years from the signing date. This commitment creates a significant future financial obligation for the Company.

    Commitment to Share Subscriptions for Charity Project
    Commitment to Charity Project: The Company has committed to raising funds through share subscriptions to finance a charity project. This project aims to integrate recent psychological discoveries with the creation of an app focused on arts development. Key details of this commitment are as follows:

    Total Amount: At least £2.5 million

    Project Focus: Integration of psychological discoveries with app creation

    Project Subject: Arts development

    Funding Mechanism: The Company will issue new shares to raise the required funds. The total amount raised from these share subscriptions will be dedicated to financing the charity project.

    Project Goals: The charity project aims to:

    Enhance the integration of psychological research findings into practical applications.

    Develop an innovative app that fosters arts development and creativity.

    Support the broader community through the promotion of mental well-being and artistic expression.

    Disclosure of Progress: The Company will provide updates on the progress of the share subscription process and the implementation of the charity project in future financial statements. This includes details on the amount raised and the milestones achieved in the project.

    Commitment to Transparency: The Company is committed to ensuring transparency and accountability in the use of the funds raised. Regular reports will be provided to stakeholders to track the project's development and impact.