CHAITECH Reg. UK Charity No. 1191814 Eagle House 163 City Road London EC1V 1NR
Instagram: @chaitech_ LinkedIn: Chaitech
TRUSTEES’ REPORT 2[nd] AUGUST 2023 - 1[st] AUGUST 2024
Objectives and activities
The purpose of Chaitech is to advance education in Artificial Intelligence (AI), Internet of Things (IoT) and mobile communications by means of providing assistance to children and other young people in the Eastern Caribbean who wish to start their own technology-based startup businesses or direct their technology skills towards improving services relevant for the general public, through mentoring, primarily by UK-based technology entrepreneurs and academics, and providing grants for software and hardware required to develop prototypes and proofs of concepts for their proposed solutions.
In pursuit of the above purpose, Chaitech in the year 2023-2024 performed the following activities:
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hosting an in-person workshop in Rodney Bay, Saint Lucia to prepare wireframes for “Nolaj” information app about Saint Lucia with a cohort of 5 young aspiring tech entrepreneurs,
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organising a stall at the school science fair in Castries, Saint Lucia to present the “Nolaj” information app demo to potential young aspiring tech entrepreneurs,
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operating an Instagram account (@chaitech_) to raise awareness on tech enterprise amongst the young people in the Eastern Caribbean.
The trustees have had regard to the Charity Commission’s guidance on public benefit. We continue to regard the above purpose as publicly beneficial in terms of helping improve opportunities for youth technology-based enterprise in countries where resources in that area are limited. We could not identify any detriments arising from our pursuit of the above purpose.
Achievements and performance
Chaitech organised an in-person workshop in Rodney Bay, Saint Lucia to prepare wireframes for ‘Nolaj’, an information app about Saint Lucia, with a cohort of 5 young aspiring tech entrepreneurs. Chaitech further organised a stall at the school science fair in Castries, Saint Lucia to present the “Nolaj” information app demo to potential young aspiring tech entrepreneurs.
Financial review
Chaitech received a donation of £900 from Aphaia Limited. The science fair stall incurred minor organisational expenses. Other significant expenses were linked to accounting services and software.
Structure, governance, and management
Chaitech is a Charitable Incorporated Organisation and is governed by the Constitution of a Charitable Incorporated Organisation (CIO). New trustees may be appointed by the vote of the existing trustees, according to the CIO Constitution: “In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.” The aim is therefore to appoint trustees that represent a mixture of technology and business expertise, and that ensure a connection between the knowledge and experience base in the UK and elsewhere, and the community of aspiring young tech entrepreneurs in the Eastern Caribbean.
Reference and admin details
Name: CHAITECH Company Registration No. CE024112 (England and Wales) Reg. UK Charity No. 1191814
Registered address and principal office: Eagle House 163 City Road Shoreditch London EC1V 1NR United Kingdom
Trustees:
Dr Andrej Bostjan Makarovic (Chair) Katya Eileen Dawes Horlane Mbayo Borut Vega Jade Matthew Jr Hutchinson Stefania Bona Maliththa Sahan Sarojan Bulathwela Jordyn Desir Maurice Savery Vigna Kumar
Exemptions from disclosure: N/A Funds held as custodian trustee on behalf of others: N/A
Company Registration No. CE024112 (England and Wales) Reg. UK Charity No. 1191814
CHAITECH ANNUAL REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
CHAITECH ANNUAL REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
| CONTENTS | PAGE |
|---|---|
| Charityinformation | 3 |
| Trustees'report | 4 |
| Accountants' report | 5 |
| Income statement Statement | 6 |
| of financial position | 7 |
| Detailed income statement | 8 |
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CHAITECH COMPANY INFORMATION FOR THE YEAR ENDED 31 AUGUST 2024
Chair of Trustees
Company Number
Registered Office
Accountants
Bostjan Makarovic
CE024112 (England and Wales)
Eagle House 163 City Road London EC1V 1NR
Pollard & Co Accounting Services Ltd 26b Bradford Road Guiseley LEEDS LS20 8NH
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CHAITECH TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2024
The trustees presents their report and accounts for the year ended 31 August 2024.
Statement of trustee s' responsibilities
The trustees are responsible for preparing the report and accounts in accordance with applicable law and regulations.
Company law requires the trustees to prepare accounts for each financial year. Under that law, the trustees have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small company provisions
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
Signed on behalf of the board of trustees
............................................................................
Bostjan Makarovic Chair of Trustees
Approved by the board on: 20th May 2025
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CHARTERED MANAGEMENT ACCOUNTANTS' REPORT TO THE BOARD OF TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF CHAITECH FOR THE YEAR ENDED 31 AUGUST 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of CHAITECH for the year ended 31 August 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Membershandbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Pollard & Co Accounting Services Ltd Member in Practice
26b Bradford Road Guiseley LEEDS LS20 8NH
4 April 2025
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CHAITECH INCOME STATEMENT FOR THE YEAR ENDED 31 AUGUST 2024
| Turnover Other income Other charges Loss |
2024 £ - 900 (1,092) (192) |
2023 £ - - (1,736) |
|---|---|---|
| (1,736) |
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CHAITECH STATEMENT OF FINANCIAL POSITION AS AT 31 AUGUST 2024
| Current assets Net current assets Total assets less current liabilities Accruals and deferred income Net assets Reserves |
1,043 | 2024 £ 1,043 1,043 (450) 593 593 |
1,235 | 2023 £ 1,235 |
|---|---|---|---|---|
| 1,235 (450) |
||||
| 785 | ||||
| 785 |
NOTES TO THE ACCOUNTS
1 Statutory information
CHAITECH is a CIO , registered in England and Wales, registration number CE024112. The registered office is Eagle House, 163 City Road, London, EC1V 1NR.
2 Average number of employees
During the year the average number of employees was 0 (2023: 0).
For the year ending 31 August 2024 the company was entitled to exemption from audit 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 trustees acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and FRS 105, The Financial Reporting Standard applicable to the Micro-entities Regime.
Approved by the board on 20th May 2025
Bostjan Makarovic Chair of Trustees
Company Registration No. CE024112
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CHAITECH DETAILED INCOME STATEMENT FOR THE YEAR ENDED 31 AUGUST 2024
This schedule does not form part of the statutory accounts.
| This schedule does not form part of the statutory accounts. | ||
|---|---|---|
| Other income Other operating income Other Software Donations Sundry expenses Accountancy fees Other legal and professional Loss on ordinary activities before taxation |
2024 £ 900 403 - 101 548 40 1,092 (192) |
2023 £ - |
| 43 785 - 908 - |
||
| 1,736 | ||
| (1,736) |
Loss on ordinary activities before taxation
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