FARID AG HOLDINGS LIMITED

Company Registration Number:
08887546 (England and Wales)

Unaudited abridged accounts for the year ended 28 February 2023

Period of accounts

Start date: 01 March 2022

End date: 28 February 2023

FARID AG HOLDINGS LIMITED

Contents of the Financial Statements

for the Period Ended 28 February 2023

Balance sheet
Notes

FARID AG HOLDINGS LIMITED

Balance sheet

As at 28 February 2023


Notes

2023

2022


£

£
Called up share capital not paid: 1 1
Fixed assets
Intangible assets: 3 289,627 0
Tangible assets: 4 6,100 0
Total fixed assets: 295,727 0
Current assets
Stocks: 693,343 146,910
Cash at bank and in hand: 62,000
Total current assets: 755,343 146,910
Creditors: amounts falling due within one year: 5 (73,000) 0
Net current assets (liabilities): 682,343 146,910
Total assets less current liabilities: 978,071 146,911
Creditors: amounts falling due after more than one year:     0
Total net assets (liabilities): 978,071 146,911
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 978,070 146,910
Shareholders funds: 978,071 146,911

The notes form part of these financial statements

FARID AG HOLDINGS LIMITED

Balance sheet statements

For the year ending 28 February 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 04 October 2024
and signed on behalf of the board by:

Name: STEPHEN JON MOORE
Status: Director

The notes form part of these financial statements

FARID AG HOLDINGS LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

1. Accounting policies

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

Other accounting policies

1. Accounting Policies: The accounts have been prepared in accordance with the provisions of Financial Reporting Standard 102 Section 1A (small entities) and the Companies Act 2006. The accounts are prepared under the historical cost convention. 2. Fixed Assets: The company has estimated the value of business and computer equipment held by directors at £6,100. This estimate is based on the available information and will be adjusted in future filings as more accurate data becomes available. 3. Intangible Assets: The intangible assets are crypto assets with monetary value, which are traded on the open market. These assets are directly and indirectly linked to real-time gold and silver metal prices and trade volumes. 4. Current Assets: Inventory is valued at £693,343. Cash at bank and in hand is £62,000. 5. Creditors: R&D Expenses Payable represent unpaid contributions to R&D efforts, valued at £70,000. E-commerce Development Payable reflects unpaid costs related to platform development, valued at £3,000. 6. Capital and Reserves: Retained earnings are £886,610, accounting for the company’s net loss of £91,460 for the year. 7. Director's Responsibilities: The director acknowledges their responsibility for preparing the financial statements in accordance with the requirements of the Companies Act 2006. 8. Exemption from Audit: For the year ended 28 February 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 for its accounts in accordance with section 476 of the Act.

FARID AG HOLDINGS LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

2. Employees

2023 2022
Average number of employees during the period 2 1

1. Turnover. Represents total revenue generated during the year. 2. Cost of Sales. Includes direct costs related to the production or acquisition of goods sold during the year. 3. Administrative Expenses. Research and Development (R and D) Expenses. Reflects the value of unpaid staff contributions to R and D, specifically from 2 data scientists and 1 researcher (total 85800). General Administrative Expenses. Includes other overhead costs for running the business. 4. Operating Loss. The total loss from normal business operations. 5. Loss Before Taxation. The net loss for the year before considering any taxation. 6. Tax on Loss. No tax charge applied. 7. Loss for the Financial Year. Represents the total loss after all expenses.

FARID AG HOLDINGS LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

3. Intangible Assets

Total
Cost £
At 01 March 2022 0
Additions 289,627
Disposals 0
Revaluations 0
Transfers 0
At 28 February 2023 289,627
Amortisation
At 01 March 2022 0
Charge for year 0
On disposals 0
Other adjustments 0
At 28 February 2023 0
Net book value
At 28 February 2023 289,627
At 28 February 2022 0

FARID AG HOLDINGS LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

4. Tangible Assets

Total
Cost £
At 01 March 2022 0
Additions 6,100
At 28 February 2023 6,100
Net book value
At 28 February 2023 6,100
At 28 February 2022 0

FARID AG HOLDINGS LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

5. Creditors: amounts falling due within one year note

R&D Expenses Payable represent unpaid contributions to R&D efforts, valued at £70,000. E-commerce Development Payable reflects unpaid costs related to platform development, valued at £3,000.