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Registered number: 13830442
Helvetic Blockchain Technologies Plc
Strategic Report, Directors' Report and
Financial Statements
For the Period 5 January 2022 to 31 January 2023
R&R Accounting & Taxation Services Ltd
Unit 8, Suite 3 Kingsdale Business Centre
Regina Road
Chelmsford
CM1 1PE
Financial Statements
Contents
Page
Strategic Report 1
Directors' Report 2—3
Independent Auditor's Report 4—6
Profit and Loss Account 7
Statement of Comprehensive Income 8
Balance Sheet 9
Statement of Changes in Equity 10
Notes to the Financial Statements 11—15
Page 1
Strategic Report
The directors present their strategic report for the period ended 31 January 2023 .
Principal Risks and Uncertainties
There are no principal risks or uncertainties in the company
On behalf of the board
Mr Francesco Fico
Director
19th October 2023
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Page 2
Directors' Report
The directors present their report and the financial statements for the period ended 31 January 2023 .
Principal Activity
The company's principal activity continues to be that of building 'farms' to mine for Ether currency.
Directors
The directors who held office during the period were as follows:
Mr Francesco Fico Appointed 05/01/2022
Mr David Marconi Appointed 05/01/2022
Statement of Directors' Responsibilities
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements 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 the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors 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 financial statements 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.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Directors' Report is approved: 
  • so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
  • they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
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Independent Auditors
The auditors, Anstey Bond LLP, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.
On behalf of the board
Mr Francesco Fico
Director
13th October 2023
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Independent Auditor's Report
Opinion
We have audited the financial statements of Helvetic Blockchain Technologies PLC (the 'company') for the period
ended 31 January 2023 which comprise the Income Statement, Balance Sheet and Notes to the Financial
Statements, including a summary of significant accounting policies. The financial reporting framework that has
been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United
Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• give a true and fair view of the state of the company's affairs as at 31 January 2023 and of its profit for the
year then ended;
• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
and
• have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for Opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of
the financial statements section of our report. We are independent of the company in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical
Standard , and the provisions available for small entities, in the circumstances set out in note 9 to the financial
statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We
believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions Relating to Going Concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going
concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the
relevant sections of this report.
Other Information
The director is responsible for the other information. The other information comprises the information in the Report
of the Director but does not include the financial statements and our Report of the Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise
explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in
doing so, consider whether the other information is materially inconsistent with the financial statements, or our
knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material
inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a
material misstatement in the financial statements themselves. If, based on the work we have performed, we
conclude that there is a material misstatement of this other information, we are required to report that fact. We have
nothing to report in this regard.
Opinions on Other Matters Prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
  • the information given in the Strategic Report and Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
  • the Report of the Directors have been prepared in accordance with applicable legal requirements.
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Matters on Which We Are Required to Report by Exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
  • adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
  • the financial statements are not in agreement with the accounting records or returns; or
  • certain disclosures of directors' remuneration specified by law are not made; or
  • we have not received all the information and explanations we require for our audit, or
  • the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions from the requirement to prepare a Strategic Report or in preparing the Report of the Directors. 
Responsibilities of Directors
As explained more fully in the Statement of Director's Responsibilities set out on page two, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 
In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so. 
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our
opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in
accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from
fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to
influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Identifying and assessing potential risks related to irregularities
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance
with laws and regulations, we considered the following:
• the nature of the industry and sector, control environment and business performance including the design of the
Company’s remuneration policies, key drivers for directors' remuneration, bonus levels and performance targets.
• results of our enquiries of management about their own identification and assessment of the risks of irregularities.
• any matters we identified having obtained and reviewed the Company's documentation of their policies and
procedures relating to
• identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of
noncompliance.
• detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or
alleged fraud,
• the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations.
• the matters discussed among the audit engagement team and involving relevant internal specialists, including tax
and IT specialists regarding how and where fraud might occur in the financial statements and any potential
indicators of fraud.
As a result of these procedures, we considered the opportunities and incentives that may exist within the
...CONTINUED
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Auditor's Responsibilities for the Audit of the Financial Statements - continued
organisation for fraud and identified the greatest potential for fraud in relation to revenue deferrals. In common with
all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of
management override.
We also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing
on provisions of those laws and regulations that had a direct effect on the determination of material amounts and
disclosures in the financial statements. The key laws and regulations we considered in this context included the UK
Companies Act and local tax legislation.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial
statements but compliance with which may be fundamental to the Company's ability to operate or to avoid a
material penalty.
Audit response to the risks identified
Our procedures to respond to risks identified included the following:
- reviewing the financial statement disclosures and verifying through obtaining supporting documentation to assess
compliance with provisions of relevant laws and regulations described as having a direct effect on the financial
statements.
• enquiring of management and external legal counsel concerning actual and potential litigation and claims.
• performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of
material misstatement due to fraud.
• reading minutes of meetings of those charged with governance and reviewing regulatory correspondence.
• obtained an understanding of provisions and held discussions with management to understand the basis of
recognition or non-recognition of tax provisions; and
• obtained an understanding of provisions and held discussions with management to understand the basis of
recognition or non-recognition of tax provisions; and in addressing the risk of fraud through management override
of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the
judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business
rationale of any significant transactions that are unusual or outside the normal course of business.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team
members including internal specialists and significant component audit teams and remained alert to any indications
of fraud or noncompliance with laws and regulations throughout the audit.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of
the Auditors.
Use Of Our Report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those
matters that we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest
extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the
company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Colin Ellis FCCA (Senior Statutory Auditor)
for and on behalf of Anstey Bond LLP , Statutory Auditor
13th October 2023
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Profit and Loss Account
31 January 2023
Notes £
TURNOVER 27,463
GROSS PROFIT 27,463
Administrative expenses (48,673,224 )
OPERATING LOSS AND LOSS FOR THE FINANCIAL PERIOD (48,645,761 )
The notes on pages 11 to 15 form part of these financial statements.
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Statement of Comprehensive Income
31 January 2023
£
LOSS FOR THE FINANCIAL PERIOD (48,645,761 )
OTHER COMPREHENSIVE INCOME FOR THE PERIOD -
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD (48,645,761 )
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Balance Sheet
Registered number: 13830442
31 January 2023
Notes £ £
FIXED ASSETS
Investments 7 15,361,605
15,361,605
CURRENT ASSETS
Debtors 8 28,163
Cash at bank and in hand 155,700
183,863
Creditors: Amounts Falling Due Within One Year 9 (19,502 )
NET CURRENT ASSETS (LIABILITIES) 164,361
TOTAL ASSETS LESS CURRENT LIABILITIES 15,525,966
NET ASSETS 15,525,966
CAPITAL AND RESERVES
Called up share capital 11 646,094
Share premium account 63,525,633
Profit and Loss Account (48,645,761 )
SHAREHOLDERS' FUNDS 15,525,966
On behalf of the board
Mr Francesco Fico
Director
13th October 2023
The notes on pages 11 to 15 form part of these financial statements.
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Statement of Changes in Equity
Share Capital Share Premium Profit and Loss Account Total
£ £ £ £
As at 5 January 2022 646,094 - - 646,094
Loss for the period and total comprehensive income - - (48,645,761 ) (48,645,761)
Arising on shares issued during the period - 63,525,633 - 63,525,633
As at 31 January 2023 646,094 63,525,633 (48,645,761 ) 15,525,966
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Notes to the Financial Statements
1. General Information
Helvetic Blockchain Technologies Plc is a private company, limited by shares, incorporated in England & Wales, registered number 13830442 . The registered office is Level 1 Devonshire House, One Mayfair Place, London, W1J 8AJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Investments
2.4. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Operating Loss
The operating loss is stated after charging:
31 January 2023
£
Depreciation of tangible fixed assets 48,459,672
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4. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the period was as follows:
31 January 2023
£
Audit Services
Audit of the company's financial statements 9,600
5. Average Number of Employees
Average number of employees, including directors, during the year was: NIL
-
6. Tax on Profit
The tax charge on the profit for the period was as follows:
31 January 2023
£
Current tax
UK Corporation Tax -
The actual charge for the period can be reconciled to the expected for the period based on the surplus and the standard rate of corporation tax as follows:
31 January 2023
£
Profit before tax (48,645,761)
Tax on profit at 0% (UK standard rate) -
Total tax charge for the period -
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7. Investments
Unlisted Other Total
£ £ £
Cost
As at 5 January 2022 - - -
Additions 63,406,967 130,865 63,537,832
Revaluations (48,459,672 ) - (48,459,672 )
Other 283,445 - 283,445
As at 31 January 2023 15,230,740 130,865 15,361,605
Provision
As at 5 January 2022 - - -
As at 31 January 2023 - - -
Net Book Value
As at 31 January 2023 15,230,740 130,865 15,361,605
As at 5 January 2022 - - -
Investments in subsidiaries, associates and joint ventures are accounted for using the equity method, except when they are classified as held for sale, in which case they are measured at the lower of carrying amount and fair value less costs to sell. Under the equity method, the investment is initially recognised at cost and adjusted thereafter for the post-acquisition change in the investor’s share of the investee’s net assets. The investor’s profit or loss includes its share of the investee’s profit or loss and the investor’s other comprehensive income includes its share of the investee’s other comprehensive income.
Investments in other entities are classified as either fair value through profit or loss (FVTPL). Investments that are held for trading or that do not meet the criteria for FVOCI are measured at FVTPL. Changes in fair value of investments at FVTPL are recognised in profit or loss. 
The fair values of investments are based on quoted market prices or, if unavailable, estimated using valuation techniques. Impairment losses on investments are recognised when there is objective evidence of a significant or prolonged decline in their fair value below their cost or amortised cost. Impairment losses are measured as the difference between the carrying amount and the present value of estimated future cash flows discounted at the original effective interest rate for investments measured at amortised cost. Impairment losses are recognised in profit or loss and are reversed if the impairment indicator no longer exists.
8. Debtors
31 January 2023
£
Due within one year
Prepayments and accrued income 28,163
28,163
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9. Creditors: Amounts Falling Due Within One Year
31 January 2023
£
Other loans 451
Other creditors 4,651
Accruals and deferred income 14,400
19,502
10. Loans
An analysis of the maturity of loans is given below:
31 January 2023
£
Amounts falling due within one year or on demand:
Other loans 451
451
11. Share Capital
31 January 2023
Allotted, called up and fully paid £
646,094 Ordinary Shares of £ 1.00 each 646,094
12. Related Party Disclosures
The related parties are Helvetic Mine SA and Ziduc SA
Ziduc SAHelvetic Blockchain Technologies PLC owns 96% shares in Ziduc SAShares bough at a total of £4035

Ziduc SA

Helvetic Blockchain Technologies PLC owns 96% shares in Ziduc SA

Shares bough at a total of £4035

Helvetic Mine SAHelvetic Blockchain Technologies holds 100% shares in Helvetic Mine SAShares bought at a total of £631,507

Helvetic Mine SA

Helvetic Blockchain Technologies holds 100% shares in Helvetic Mine SA

Shares bought at a total of £631,507

Loan balances
Helvetic Mine SA - CHF 151,000 due to HBTPLC
Helvetic Mine SA - EUR 35,290 due to HBTPLC
There are no terms of payment or interest for the loans above.
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13. Controlling Parties
The companys' controlling party are Mr Franco Fico and Mr David Marconu by virtue of their ownership of 50%
each of the issued share capital in the company.
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