PHICHAIN CAPITAL LTD

Company Registration Number:
09457753 (England and Wales)

Unaudited abridged accounts for the year ended 21 January 2025

Period of accounts

Start date: 12 January 2025

End date: 21 January 2025

PHICHAIN CAPITAL LTD

Contents of the Financial Statements

for the Period Ended 21 January 2025

Balance sheet
Notes

PHICHAIN CAPITAL LTD

Balance sheet

As at 21 January 2025


Notes

21 January 2025

11 January 2025


£

£
Called up share capital not paid: 788,000 788,000
Fixed assets
Intangible assets:   12,679,380 0
Tangible assets:   18,921 18,921
Investments:   1,375,407 0
Total fixed assets: 14,073,708 18,921
Current assets
Debtors:   9,076,214 1,015,634
Cash at bank and in hand: 28,969 10,000
Total current assets: 9,105,183 1,025,634
Creditors: amounts falling due within one year: 3 (8,803,927) (998,164)
Net current assets (liabilities): 301,256 27,470
Total assets less current liabilities: 15,162,964 834,391
Provision for liabilities: (14,000)
Total net assets (liabilities): 15,148,964 834,391
Capital and reserves
Called up share capital: 788,000 788,000
Other reserves: 14,356,580 10,000
Profit and loss account: 4,384 36,391
Shareholders funds: 15,148,964 834,391

The notes form part of these financial statements

PHICHAIN CAPITAL LTD

Balance sheet statements

For the year ending 21 January 2025 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 22 January 2025
and signed on behalf of the board by:

Name: Omar Azegah
Status: Director

The notes form part of these financial statements

PHICHAIN CAPITAL LTD

Notes to the Financial Statements

for the Period Ended 21 January 2025

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

Turnover policy

The turnover represents the revenue generated by the holding company from its subsidiaries and other investments. This includes: Revenue from Subsidiaries: Dividends, management fees, or other income streams received from the 100%-owned crypto exchange and any other subsidiary companies. Investment Income: Interest, royalties, or other returns generated from investments or financial assets held by the holding company. Net of VAT: All turnover figures are reported net of VAT or any other applicable taxes.

Intangible fixed assets and amortisation policy

The intangible fixed assets include the licenses and goodwill associated with subsidiary licensed exchange cryptocurrency companies operating within the EU. These assets are valued at approximately £14 million, reflecting their established cooperate structure, trading history, and merchant account relationships within exchanges. Amortization of Goodwill and Licenses: The goodwill and licenses are mortised on a straight-line basis over an estimated useful lifetime of 10 years, to reflect their long-term value in generating revenue. This results in an annual amortization charge of 10% of the asset's value, or £1.4 million per year. Residual Value: The amortization is calculated on the cost of the asset, assuming a residual value of £0 at the end of its useful lifetime.

PHICHAIN CAPITAL LTD

Notes to the Financial Statements

for the Period Ended 21 January 2025

2. Employees

21 January 2025 11 January 2025
Average number of employees during the period 9 9

PHICHAIN CAPITAL LTD

Notes to the Financial Statements

for the Period Ended 21 January 2025

3. Creditors: amounts falling due within one year note

The amounts falling due within one year represent liabilities owed by the holding company (Phichain Capital LTD) to its subsidiary companies. These amounts arise from inter company transactions, including operational funding and shared expense allocations. these are always repaid back within 1 month. The holding company takes loans from its subsidiaries and distributes it to its other subsidiaries as loans.

PHICHAIN CAPITAL LTD

Notes to the Financial Statements

for the Period Ended 21 January 2025

4. Financial commitments

The company has committed to a long-term strategic plan to acquire and develop assets valued at approximately £75 million by the year 2030. These commitments include investments in subsidiary companies, intellectual property, tangible assets, and strategic partnerships. As of the date of these accounts, the company has no legally binding commitments for specific future expenditures but has outlined the following objectives as part of its growth strategy: Tangible Assets: £30 million (e.g., infrastructure, equipment). Intangible Assets: £25 million (e.g., intellectual property, software licenses). Investments in Subsidiaries: £20 million (e.g., acquisitions, equity injections). The company will finance these commitments through retained earnings, intercompany funding, and external financing where required.