for the Period Ended 31 August 2023
Company Information - 3 | |
Balance sheet - 4 | |
Additional notes - 6 | |
Balance sheet notes - 9 |
for the Period Ended 31 August 2023
Registered office: |
England |
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Company Registration Number: |
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As at
Notes |
2023 £ |
2022 £ |
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Fixed assets | |||
Intangible assets: | 4 |
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Tangible assets: | 5 |
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Total fixed assets: |
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Current assets | |||
Debtors: |
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Cash at bank and in hand: |
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Total current assets: |
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Creditors: amounts falling due within one year: |
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( |
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Net current assets (liabilities): |
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Total assets less current liabilities: |
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Creditors: amounts falling due after more than one year: |
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Accruals and deferred income: |
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( |
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Total net assets (liabilities): |
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The notes form part of these financial statements
As at 31 August 2023
Notes |
2023 £ |
2022 £ |
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Capital and reserves | |||
Called up share capital: |
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Profit and loss account: |
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Shareholders funds: |
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This report was approved by the board of directors on
And Signed On Behalf Of The Board By:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 August 2023
Basis of measurement and preparation
for the Period Ended 31 August 2023
2023 |
2022 |
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Average number of employees during the period |
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for the Period Ended 31 August 2023
for the Period Ended 31 August 2023
Total | |
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Cost | £ |
At 01 September 2022 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 August 2023 |
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Amortisation | |
Charge for year |
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On disposals |
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Other adjustments |
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Amortisation at 31 August 2023 |
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Net book value | |
Net book value at 31 August 2023 |
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Net book value at 31 August 2022 |
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and Future Lease Commitment.
for the Period Ended 31 August 2023
Total | |
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Cost | £ |
At 01 September 2022 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 August 2023 |
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Depreciation | |
At 01 September 2022 |
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Charge for year |
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On disposals |
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Other adjustments |
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At 31 August 2023 |
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Net book value | |
At 31 August 2023 |
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At 31 August 2022 |
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for the Period Ended 31 August 2023
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.