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REGISTERED NUMBER: 13439847 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

DAHAI ART LIMITED

DAHAI ART LIMITED (Registered number: 13439847)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DAHAI ART LIMITED

Company Information
for the Year Ended 30 June 2024







DIRECTORS: R J Bourner
Y Lu-Bourner





REGISTERED OFFICE: C/O XIANG AND CO
44 BROADWAY
LONDON
E15 1XH





REGISTERED NUMBER: 13439847 (England and Wales)






DAHAI ART LIMITED (Registered number: 13439847)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 14,968 9,335,534
Tangible assets 5 529 2,987
15,497 9,338,521

CURRENT ASSETS
Debtors 6 26,214 26,214
Cash at bank 37,696 35,083
63,910 61,297
CREDITORS
Amounts falling due within one year 7 43,087 50,988
NET CURRENT ASSETS 20,823 10,309
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,320

9,348,830

CAPITAL AND RESERVES
Called up share capital 8 20,000 20,000
Share premium 9 12,180,000 12,180,000
Retained earnings 9 (12,163,680 ) (2,851,170 )
SHAREHOLDERS' FUNDS 36,320 9,348,830

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by:



Y Lu-Bourner - Director


DAHAI ART LIMITED (Registered number: 13439847)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

DAHAI ART LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Website

Research expenditure mainly arose from website development costs, which is written off to the Income Statement during the period. Development expenditure is written off in the same way unless the Directors are satisfied that:

- an individual project is technically, commercially and financially viable - a project gives rise to a separately identifiable asset and arises from contractual or other legal rights;
- it is probable that future economic benefits that are attributable to the project will flow to the company;
- the cost or value of the asset can be measured reliably If the above criteria are met, the development expenditure is capitalised as Intangible assets.

Development costs are being amortised evenly over their estimated useful life of ten years.

Crypto Assets

Crypto Assets are initially measured at cost, then revalued by using the market exchange rates. The capital gains or losses from the revaluation are then recognized in the Income Statement.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life.

Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


DAHAI ART LIMITED (Registered number: 13439847)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Crypto
Website Assets Totals
£    £    £   
COST
At 1 July 2023 11,512,277 106,552 11,618,829
Impairments (8,077,755 ) - (8,077,755 )
Exchange differences - (70,263 ) (70,263 )
At 30 June 2024 3,434,522 36,289 3,470,811
AMORTISATION
At 1 July 2023 2,283,295 - 2,283,295
Amortisation for year 1,151,227 - 1,151,227
Charge written back - 21,321 21,321
At 30 June 2024 3,434,522 21,321 3,455,843
NET BOOK VALUE
At 30 June 2024 - 14,968 14,968
At 30 June 2023 9,228,982 106,552 9,335,534

The company carried out the impairment assessment at the year end. It is the directors' view that the valuation of the Website Costs should be nil as the company has brought the website offline and the website is no longer in use. As a result, a full impairment has been recognized at 30.06.2024.

DAHAI ART LIMITED (Registered number: 13439847)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 July 2023
and 30 June 2024 7,373
DEPRECIATION
At 1 July 2023 4,386
Charge for year 2,458
At 30 June 2024 6,844
NET BOOK VALUE
At 30 June 2024 529
At 30 June 2023 2,987

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other debtors 26,214 26,214

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Social security and other taxes - 2,095
Other creditors - 7,346
Directors' current accounts 43,087 41,547
43,087 50,988

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
20,000 Ordinary Share Capital £1 20,000 20,000

9. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 July 2023 (2,851,170 ) 12,180,000 9,328,830
Deficit for the year (9,312,510 ) (9,312,510 )
At 30 June 2024 (12,163,680 ) 12,180,000 16,320