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CRYPTON DIGITAL ASSETS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2019
Crypton Digital Assets Limited is a limited liability company registered in England and Wales. Its registered office address is at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire WD6 1JD.
The principal activity of the company during the period was as follows:
Crypton Digital Assets Ltd uses artificial intelligence (AI) to provide excellent liquidity to allow all traders across the world to easily buy and sell digital assets. We inspire confidence in the market, leading to further investment and increased trading volume - therefore attracting institutional investment, opportunities and creating liquid markets. Key services include smart funds, smart liquidity, smart OTC and smart execution.
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Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of
Financial Reporting Standard 102, the Financial Reporting Standard applicable in
the UK and the Republic of Ireland and the Companies Act 2006
.
The following principal accounting policies have been applied:
The financial statements have been prepared on a going concern basis which is dependant upon the continued support of its shareholders. In view of this, the directors consider it appropriate to adopt a going concern basis in preparing these financial statements. In the absence of this continued support the going concern basis may be invalid and an adjustment would have to be made to provide for any further liabilities that may arise.
Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Investments in listed company shares are remeasured to market value at each Statement of Financial Position date. Gains and losses on remeasurement are recognised in profit or loss for the period.
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