Resultados finales y publicación del informe anual
ESTE ANUNCIO CONTIENE INFORMACIÓN PRIVILEGIADA A EFECTOS DEL ARTÍCULO 7 DEL REGLAMENTO DE LA UE 596/2014, QUE FORMA PARTE DE LA LEY DEL REINO UNIDO EN VIRTUD DE LA LEY DE 2018 (RETIRADA) DE LA UNIÓN EUROPEA.
28 de febrero de 2024
Para su publicación inmediata
AIQ limitado
("AIQ" or the "Company" or, together with Alcodes International, the "Group")
Resultados finales y publicación del informe anual
The Board of AIQ (LSE: AIQ) announces the Group's final results for the year ended 31 October 2023.
Resumen
· Revenue for ongoing operations for the year ended 31 October 2023 was £207k (2022: £496k), reflecting the challenging environment for non-fungible tokens ("NFT") and other blockchain-based projects
· Completed a contract to supply an NFT marketplace for education applications in Hong Kong
· Delivered a feasibility study into building a virtual data centre on different non-cryptocurrency public blockchains
· Awarded a contract to develop a gaming application
· Net loss for the year was reduced to £526k (2022: £641k loss), resulting from the consolidation of the Group's operating in Malaysia with those in Hong Kong
· Cash and cash equivalents of £135k at 31 October 2023 (31 October 2022: £636K)
· The Board continues to closely monitor the cash position and is keeping all its strategic options open should the markets not turn favourable in the near-term
Publicación del Informe Anual
The Group's annual report and accounts for the year ended 31 October 2023 has been published today and is available on the AIQ website at: https://aiqhub.com/investors/financial-reports/
Consultas
AIQ limitado | c / o +44 (0) 20 4582 3500 |
Harry Chathli, presidente | |
Guild Financial Advisory Limited (Asesor financiero) | + 44 (0)7973839767 |
rossandrews | |
Gracechurch Group (relaciones públicas financieras) | 44 0 20 4582 3500 |
claire norbury |
Declaración del presidente
It was a challenging year for AIQ as the environment for non-fungible tokens ("NFTs") and other blockchain-based projects came under pressure, which was compounded by the difficult economic conditions experienced globally. While we were awarded two new contracts during the year, the level of revenue associated with these projects was low. Accordingly, to further reduce our expenditure, we resolved to consolidate our operations in Malaysia with those in Hong Kong. We vacated our premises during the year and formally closed our Malaysian subsidiary at year end.
We are currently completing a contract to develop a gaming application, and the customer has indicated that we will receive follow-on work for a further phase of development. This was the first project that we have undertaken in game development, and we are seeking to leverage this experience by identifying other prospective customers to whom we can provide this service. While we are hopeful of securing further contracts in this area, it is very difficult to forecast with any certainty in the current climate.
Accordingly, the Board continues to closely monitor the cash position and is keeping all its strategic options open should the markets not turn favourable in the near-term.
On behalf of the Board, I would like to thank all of our shareholders for their continued support and we hope to be able to provide an update on progress in due course.
harry chathli
Presidente no ejecutivo
Revisión operacional
During the year to 31 October 2023, AIQ completed the delivery of a contract to supply an NFT platform. It has been built to enable art schools and education centres in Hong Kong assist their students in publishing NFTs on a blockchain platform.
The Group delivered a feasibility study into building a virtual data centre on three different non-cryptocurrency public blockchains, in accordance with the customer's requirements.
It also commenced a project, which has continued into the current year, to develop a gaming application. The Group assisted the customer with the concept for the video game app and its technical development.
In each of these projects, the Group performed the role of project manager and subcontracted the technical delivery (such that the net benefit to the Group is the margin earned on the contract).
During the year, the Board resolved to not renew the lease on its Malaysian office, which was due to expire in July 2023, and formally closed its Malaysian subsidiary. The Group's business has been primarily conducted from Hong Kong since the establishment of Alcodes International in Hong Kong and the divestment of the Group's Malaysia-based e-commerce business.
Financial Review,en
Revenue for the year to 31 October 2023 was £207,209 for continuing operations, compared with £496,296 for the previous year. The revenue was primarily based on the delivery of the feasibility study into building a virtual data centre and from gaming app development. As discussed in the Chairman's Statement above, the reduction in revenue reflects the challenges the Group faced in securing new contracts owing to the difficult economic environment.
The Group recognised a gross profit of £133,509 compared with £139,754 for the previous year from continued operations. This reflects the lower revenue, which offset the significantly higher margins and lower staff costs directly engaged on projects.
Administrative expenses were marginally lower at £605,884 for all operations (2022: £682,722). The expenses were split between continuing operations in the amount of £580,246 (2022: £534,366) and discontinued operations of £25,638 (2022: £148,356). The Group recognised a net loss on foreign exchange of £31,230 on continuing operations (2022: £62,728 gain).
The operating loss for the Group as a whole of £499,354 (2022: £616,245 loss) was down on last year. This was broken down to £478,201 (2022: £319,682) for continuing operations and £21,153 (2022: £296,563) for discontinued operations. The 2022 loss for discontinued operations included a £134k impairment charge.
Net finance costs for continuing operations were £24,997 compared with £17,056 for the previous year. The increase was due to a full year's interest on loan notes in the year under review.
Loss before tax for the year for all operations was £526,277 (2022: £640,906 loss), comprising £503,198 for continuing operations (2022: £336,731) and £23,079 (2022: £304,175) for discontinued operations. The loss per share for continuing operations is 0.8 pence (2022: 0.5 pence loss per share).
The Group had cash and cash equivalents of £135,445 at 31 October 2023 (31 October 2022: £636,459). The loan notes remain in place and are classified as non-current liabilities as the noteholders have confirmed to the Company that they do not intend to convert, and do not expect repayment of, the loan notes in the next 12 months.
Preocupación continua
The Group incurred losses of £527k during the year and experienced operating cash outflows of £419k. As at 31 October 2023, the Group had net current assets of £20k and cash of £135k. The Group's cash position was approximately £127k at 31 January 2024.
In assessing whether the going concern assumption is appropriate, the Directors take into account all available information for the foreseeable future, in particular for the 12 months from the date of approval of the financial statements. This information includes management prepared cash flows forecasts for the Group.
The Directors have assessed that to meet its forecasted cash requirements, the Group is dependent on cash generated from the new revenue contracts, continued support from the loan note holders and/or obtaining further funding in the form of debt/equity. The Group is currently bidding for new revenue contracts, discussing with loan note holders for further extension of maturity and evaluating different options of fund raising. The Directors believe that the actions required to maintain the going concern position of the Group can be achieved as successfully demonstrated in the past. As a result, the Board continues to adopt the going concern basis of accounting in preparing the financial statements.
The uncertainty around management estimation of winning new revenue contracts and/or obtaining additional funding gives rise to a material uncertainty that may cast significant doubt on the Group's ability to continue as a going concern. Therefore, the auditors make reference to going concern by way of material uncertainty within their audit report.
DECLARACIÓN CONSOLIDADA DE INGRESO COMPRENSIVO
POR EL AÑO TERMINADO EL 31 DE OCTUBRE DE 2023
|
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|
| ||||
|
Note |
|
Año terminado 31 October 2023
£ |
Año terminado 31 October 2022
£ | |||
Ingresos de operaciones continuas | 5 | 207,209 | 496,296 | ||||
Cost of sales from continuing operations | (73,700) | (356,542) | |||||
Utilidad bruta de operaciones continuas | 133,509 | 139,754 | |||||
(Loss)/other income | (234) | 12,202 | |||||
Gastos administrativos | 7 | (580,246) | (534,366) | ||||
(Losses)/gain on foreign exchange | (31,230) | 62,728 | |||||
Pérdida operativa por operaciones continuas | (478,201) | (319,682) | |||||
Ingresos financieros | - | 7 | |||||
Costos financieros | (24,997) | (17,056) | |||||
Pérdida antes de impuestos por operaciones continuadas | (503,198) | (336,731) | |||||
Taxation | 9 | - | - | ||||
Pérdida del año por operaciones continuas | (503,198) | (336,731) | |||||
Loss on discontinued operation net of tax | 12 | (23,079)
| (304,175)
| ||||
Loss attributable to equity holders of the Company from continuing and discontinued operations |
(526,277) |
(640,906) | |||||
Other comprehensive income/(loss) (as may be reclassified to profit and loss in subsequent periods, net of taxes): | |||||||
Exchange difference on translating foreign operations from continuing operations |
(430) |
(2,902) | |||||
Comprehensive loss attributable to equity holders of the Company from continuing and discontinued operations |
(526,707) |
(643,808) | |||||
Beneficio por acción básico y diluido (£) | 10 | (0.008) | (0.010) | ||||
Las notas adjuntas forman parte integral de estos estados financieros consolidados.
ESTADO CONSOLIDADO DE POSICIÓN FINANCIERA
AL 31 DE OCTUBRE DE 2023
|
|
| Note | Como en Octubre 31 2023 £ | Como en Octubre 31 2022 £ |
Activos | |||||
Activos no corrientes | |||||
Propiedad, planta y equipo. | 11 | 6,884 | 12,270 | ||
Activos por derecho de uso | 13 | - | 73,026 | ||
6,884 | 85,296 | ||||
Activos circulantes | |||||
Cuentas comerciales y otras cuentas por cobrar | 14 | 41,718 | 66,408 | ||
Efectivo y equivalentes de efectivo | 15 | 135,445 | 636,459 | ||
Total de activos corrientes | 177,163 | 702,867 | |||
los activos totales |
| 184,047 | 788,163 | ||
Patrimonio y pasivos | |||||
Capital y reservas | |||||
Capital social | 18 | 647,607 | 647,607 | ||
Compartir premium | 6,019,207 | 6,019,207 | |||
Reserva de garantía de acciones | 20 | 12,000 | 12,000 | ||
Reserva de conversión de moneda extranjera | 19 | 5,998 | 6,428 | ||
Perdidas acumuladas | (7,157,583) | (6,631,306) | |||
Equidad total | (472,771) | 53,936 | |||
Pasivos | |||||
Pasivo circulante | |||||
Devengos y otras cuentas a pagar | 16 | 156,818 | 137,714 | ||
Provisión de restauración de arrendamiento | 17 | - | 18,500 | ||
Pasivos por arrendamiento | 13 | - | 78,013 | ||
Total pasivo corriente | 156,818 | 234,227 | |||
Pasivos no corrientes | |||||
Notas de préstamo convertibles | 21 | 500,000 | 500,000 | ||
Total pasivo no corriente | 500,000 | 500,000 | |||
Total patrimonio y pasivos |
| 184,047 | 788,163 |
Las notas adjuntas forman parte integral de estos estados financieros consolidados. Las cuentas anuales fueron aprobadas y autorizadas para su emisión por el Consejo de Administración el 27 de febrero de 2024 y firmadas en su nombre por:
Li Chun Chung,
Directora Ejecutiva
ESTADO DE CAMBIOS EN PATRIMONIO NETO CONSOLIDADO
POR EL AÑO TERMINADO EL 31 DE OCTUBRE DE 2023
|
Compartir capital |
Compartir premium | Reserva de garantía de acciones | Reserva de conversión de moneda extranjera |
Perdidas acumuladas |
|
Equidad total |
| ||||
| £ | £ | £ | £ | £ |
| £ |
| ||||
| ||||||||||||
Saldo al 31 de octubre de 2021 | 647,607 | 6,019,207 | - |
9,330 | (5,990,400) | 685,744 |
| |||||
Pérdida integral total del año |
| - | - | - |
(2,902) | (640,906) |
| (643,808) | ||||
Reserva de garantía de acciones |
| - | - | 12,000 | - | - |
| 12,000 | ||||
Saldo al 31 de octubre de 2022 | 647,607 | 6,019,207 | 12,000 | 6,428 | (6,631,306) | 53,936 |
| |||||
Pérdida integral total del año |
| - | - | - |
(430) | (526,277) |
| (526,707) | ||||
Saldo al 31 de octubre de 2023 | 647,607 | 6,019,207 | 12,000 | 5,998 | (7,157,583) |
| (472,771) |
| ||||
Prima de emisión - Representa montos recibidos en exceso del valor nominal por la emisión de capital social menos los costos asociados con la emisión de acciones.
Pérdidas acumuladas: la reserva para pérdidas acumuladas incluye todas las ganancias y pérdidas retenidas del período actual y anterior.
Share warrant reserve - Amount arising on the issue of warrants during the year.
Translation reserve - The translation reserves includes foreign exchange movements on translating the overseas subsidiaries records, denominated MYR and HK$, to the presentational currency, GBP.
Las notas adjuntas forman parte integral de estos estados financieros consolidados.
CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 OCTOBER 2023
| Año terminado 31 October 2023 £ |
| Año terminado 31 de octubre de 2022 £ | |
flujos de efectivo por actividades operacionales | ||||
Pérdida antes de impuestos por operaciones continuadas | (503,198) | (336,731) | ||
Pérdida antes de impuestos por operaciones discontinuadas | (23,079) | (304,175) | ||
Pérdida antes de impuestos | (526,277) | (640,906) | ||
Ajustes para: - | ||||
Depreciación | 69,920 | 123,272 | ||
Cargo por deterioro | - | 133,682 | ||
Pérdida por enajenación de activos fijos | 2,981 | 10,467 | ||
Cargo por pago basado en acciones | 11,000 | 1,000 | ||
Cancelación de impuestos por cobrar | - | 24,493 | ||
Costo de restauración del arrendamiento | - | 18,500 | ||
Ingresos por intereses | - | (273) | ||
Gastos por intereses | 26,924 | 24,934 | ||
Divisas | 7,162 | (16,891) | ||
Pérdida operativa antes de cambios en el capital de trabajo | (408,290) | (321,722) | ||
Disminución de cuentas por cobrar | 13,690 | 103,115 | ||
Disminución de las cuentas por pagar | (24,395) | (108,025) | ||
Net cash used in operating activities from continued and discontinued operations |
(418,995) |
(326,632) | ||
Flujos de efectivo de actividades de inversión | ||||
Adquisición de planta y equipo | (1,651) | - | ||
Producto de la venta de activos fijos | - | 512 | ||
Interés recibido | - | 273 | ||
Net cash (used in)/generated from investing activities from continued and discontinued operations | (1,651) | 785 | ||
Flujos de efectivo de actividades de financiación | ||||
Producto de la emisión de notas de préstamo convertibles | - | 500,000 | ||
Intereses sobre pasivo por arrendamiento | (1,924) | (7,879) | ||
Reembolso de los pasivos por arrendamiento | (78,013) | (91,476) | ||
Net cash (outflow)/inflow in financing activities from continued and discontinued operations | (79,937) | 400,645 | ||
Net (decrease)/increase in cash and cash equivalents from continued and discontinued operations | (500,583) | 74,798 | ||
Efectivo y equivalentes de efectivo al inicio del año | 636,459 | 581,618 | ||
Efecto de los tipos de cambio sobre el efectivo y equivalentes de efectivo | (431) | (19,957) | ||
Cash and cash equivalents at end of the year from continued and discontinued operations | 135,445 | 636,459 |
The non-cash movement from financing activities is £36,000 (2022: £18,055) on account of accrual of interest on loan notes £25,000 (2022: £17,055) (refer to Note 21) and share-based payment charge £11,000 (2022: £1,000) (refer to Note 20).
Las notas adjuntas forman parte integral de estos estados financieros consolidados.
NOTAS A LOS ESTADOS FINANCIEROS CONSOLIDADOS
1. INFORMACIÓN GENERAL
AIQ Limited ("La Compañía") se incorporó y registró en las Islas Caimán como sociedad anónima el 11 de octubre de 2017 en virtud de la Ley de Sociedades (revisada) de las Islas Caimán, con el nombre de AIQ Limited y el número de registro 327983.
El domicilio social de la Sociedad se encuentra en 5th Floor Genesis Building, Genesis Close, PO Box 446, Cayman Islands, KY1-1106.
El 20 de marzo de 2020, la Compañía completó la adquisición de la totalidad del capital social emitido de Alchemist Codes Sdn Bhd ("Alchemist Codes"), (juntos, el "Grupo"), un desarrollador de soluciones de tecnología de la información incorporado en Malasia que se enfoca en el comercio electrónico. sector.
La Compañía tiene una cotización estándar en la Bolsa de Valores de Londres.
Los estados financieros consolidados incluyen los estados financieros de la Compañía y sus subsidiarias controladas (el "Grupo") como sigue:
Nombre | Lugar de incorporacion | Dirección registrada | Actividad principal | Interés efectivo | |
31.10.2023 | 31.10.2022 | ||||
Códigos de alquimista Sdn Bhd | Malaysia | 2-9, Jalan Puteri 4/8, Bandar Puteri, 47100 Puchong, Selangor Darul Ehsan Malaysia
| Diseño y desarrollo de software.
| 100% | 100% |
Alcodes Internacional Limitada* | 香港 | Sala 47, Smart-Space FinTech, Nivel 4, Core E, Cyberport 3, 100 Cyberport Road, Hong Kong | Software and app design and development through the provision of IT consultancy
| 100% | 100% |
* Held by Alchemist Codes Sdn Bhd during the year.
On 31 October 2023, the Company commenced the strike off process to dispose of its subsidiary Alchemist Codes Sdn Bhd. Alcodes International Limited is now owned directly by the parent company AIQ Limited.
2. ACTIVIDADES PRINCIPALES
The principal activities of the Group currently comprise the delivery of information technology (IT) solutions for clients through the provision of IT consultancy.
3. POLÍTICAS CONTABLES
a) Base de preparación
The financial statements have been prepared in accordance with UK adopted international accounting standards (IFRSs).
Según lo permitido por Ley de Sociedades (revisada) de las Islas Caimán solo se presentan los estados financieros consolidados.
The financial statements are presented in Pound Sterling ("GBP") which is the functional currency of the Company. The functional currencies of the subsidiaries are Malaysian Ringgit and HK Dollar and they have been converted to GBP as explained in note 3(e). All values are rounded to the nearest pound, except where otherwise indicated.
The results for 31 October 2023 are prepared for a 12-month period.
During the year, the Group discontinued its operation in Malaysia as part of its consolidation strategy to save cost and focus on operations in Hong Kong and therefore the comparative in the consolidated statement if comprehensive income pertaining to discontinued operations were restated in line with IFRS 5- Non-current assets held for sale sand discontinued operations
Nuevas interpretaciones y normas revisadas vigentes para el año finalizado el 31 de octubre de 2023
Las políticas contables adoptadas son consistentes con las del ejercicio anterior excepto por las siguientes normas e interpretaciones nuevas y modificadas durante el ejercicio que son aplicables al Grupo.
otras Normas
Las nuevas normas e interpretaciones que se han adoptado en las cuentas anuales del ejercicio terminado el 31 de octubre de 2023, pero que no han tenido un efecto significativo en el Grupo son:
· Modificaciones a la NIC 16: Propiedades, Planta y Equipo
· Modificaciones a la NIC 37: Provisiones, Pasivos Contingentes y Activos Contingentes
Estas normas no han tenido un efecto significativo en el Grupo.
Normas e interpretaciones en circulación pero aún no efectivas
There are a number of standards, amendments to standards, and interpretations which have been issued by the International Accounting Standards Board (IASB) that are effective in future accounting periods that the Group has decided not to adopt early. The most significant of these are as follows:
· Modificaciones a la NIC 1: Presentación de Estados Financieros y Declaración de Práctica NIIF 2: Revelación de Políticas Contables
· Modificaciones a NIC 1: Presentación de Estados Financieros: Clasificación de Pasivos como Corrientes o No Corrientes
· Modificaciones a la NIC 8: Políticas contables, Cambios en Estimaciones Contables y Errores - Definición de Estimaciones Contables
· Amendments to IAS 12: Income Taxes - Deferred Tax related to Assets and Liabilities arising from a Single Transaction
· Amendments to IAS 1 Presentation of Financial Statements: Non-current Liabilities with Covenants
The Directors do not anticipate the adoption of any of these standards issued by IASB to have a material impact on the financial statements of the Group.
b) Base de consolidación
Los estados financieros consolidados incorporan los estados financieros de la Compañía y sus subsidiarias elaborados hasta el final del período sobre el que se informa. Las subsidiarias son entidades sobre las cuales el Grupo tiene control. El Grupo controla una participada si el Grupo tiene poder sobre la participada, exposición a rendimientos variables de la participada y la capacidad de usar su poder para afectar esos rendimientos variables.
Los estados financieros consolidados presentan los resultados de la Compañía y sus subsidiarias como si formaran una sola entidad. Por tanto, se eliminan en su totalidad los saldos intercompañía y las transacciones entre empresas del Grupo. La información financiera de las subsidiarias se incluye en los estados financieros del Grupo desde la fecha en que comienza el control hasta la fecha en que cesa el control.
c) Negocio en marcha
The Group incurred losses of £527k during the year and experienced operating cash outflows of £419k. As at 31 October 2023, the Group had net current assets of £20k and cash of £135k. The Group's cash position was approximately £127k at 31 January 2024.
In assessing whether the going concern assumption is appropriate, the Directors take into account all available information for the foreseeable future, in particular for the 12 months from the date of approval of the financial statements. This information includes management prepared cash flows forecasts for the Group.
The Directors have assessed that to meet its forecasted cash requirements, the Group is dependent on cash generated from the new revenue contracts, continued support from the loan holders and/or obtaining further funding in the form of debt/equity. The Group is currently bidding for new revenue contracts, discussing with loan note holders for further extension of maturity and evaluating different options of fund raising. The Directors are confident that the actions required to maintain the going concern position of the Group can be achieved as successfully demonstrated in the past. As a result, the Board continues to adopt the going concern basis of accounting in preparing the financial statements.
The uncertainty around management estimation of winning new revenue contracts and/or obtaining additional funding gives rise to a material uncertainty that may cast significant doubt on the Group's ability to continue as a going concern. Therefore, the auditors make reference to going concern by way of material uncertainty within their audit report.
d) Ingresos
Revenue is recognised at an amount that reflects the consideration to which the entity expects to be entitled in exchange for transferring goods or services to a customer net of sales taxes and discounts. A performance obligation may be satisfied at a point in time or over time. The amount of revenue recognised is the amount allocated to the satisfied performance obligation. The Board believes that Group has one primary source of revenue from operations - software development income. The Group also earned sub-letting income from sub-leasing office space. The sources of income can be broken down further into distinct revenue streams:
(I) Sub-letting income
Income received from sub-letting is netted off against administrative expenses.
(Ii) Ingresos por desarrollo de software
The Group earns project management and coordination revenues. In the current year, these primarily related to blockchain platform development and digital business platform IT solutions for clients. Revenue is recognised progressively over time based on milestones and customers' acceptance by using the input method and output method.
Las obligaciones de desempeño se extienden durante varios meses con obligaciones por hitos durante el plazo del acuerdo de servicio.
In most cases, the measurement of revenue (when recognised over time) will not be the same as amounts invoiced to a customer. In these circumstances, the Group will recognise either a contract asset (accrued income) or a contract liability (deferred income) for the difference between cumulative revenue recognised and cumulative amounts billed for that contract. For income recognised over time for open contracts, management estimates the percentage of work completed by reference to each customer.
e) Transacciones en moneda extranjera y conversión
Monedas funcionales y de presentación
La moneda de presentación de AIQ Limited y el Grupo es la libra esterlina. La moneda funcional de la Sociedad y del Grupo es también la Libra Esterlina. Esto se basa en la moneda principal de gasto y las actividades de recaudación de fondos de la Compañía, todas en libras esterlinas.
La moneda funcional de Alchemist Codes Sdn Bhd es el Ringgit de Malasia, siendo la moneda en la que se denominan la mayoría de las transacciones de la empresa.
La moneda funcional de Alcodes International Limited es el dólar de Hong Kong, siendo la moneda en la que están denominadas la mayoría de las transacciones de la compañía.
Al preparar los estados financieros de las entidades individuales, las transacciones en monedas distintas a la moneda funcional de la entidad se registran al tipo de cambio vigente en la fecha de la transacción.
At the end of each financial year, monetary items denominated in foreign currencies are retranslated at the rates prevailing as of the end of the financial year. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated.
Las diferencias de cambio que surgen de la liquidación de partidas monetarias y de la conversión de partidas monetarias se incluyen en el resultado del período.
In order to satisfy the requirements of IAS 21 with respect to presentation currency, the consolidated ?nancial statements have been translated into Pound Sterling using the procedures outlined below:
? Assets and liabilities where the functional currency is other than Pounds were translated into Pounds at the relevant closing rates of exchange;
? non-Sterling trading results were translated into Pounds at the relevant average rates of exchange; and
? differences arising from the retranslation of the opening net assets and the results for the period are recognised in other comprehensive income and taken to the foreign currency translation reserve.
f) Propiedad, planta y equipo
Las propiedades, planta y equipo se registran al costo menos la depreciación acumulada y las pérdidas por deterioro acumuladas.
Cuando partes de un elemento de propiedades, planta y equipo tienen vidas útiles diferentes, se contabilizan como elementos separados de propiedades, planta y equipo.
La depreciación se carga al estado de resultados sobre una base lineal durante la vida útil estimada de cada parte de un elemento de propiedad, planta y equipo. Las vidas útiles estimadas son las siguientes:
Computers 5 years
Office equipment 5 years
Los métodos de depreciación, las vidas útiles y los valores residuales se revisan a la fecha de cada balance general.
g) Research and development expenditure
Los gastos de investigación se reconocen como gasto cuando se incurre en ellos.
Development expenditure is recognised as an expense except that costs incurred on development projects are capitalised as long-term assets to the extent that such expenditure is expected to generate future economic benefits. Development expenditure is capitalised if, and only if an entity can demonstrate all of the following:
(i) su capacidad para medir de forma fiable el desembolso atribuible al activo en desarrollo;
(ii) el producto o proceso es técnica y comercialmente factible;
(iii) sus beneficios económicos futuros son probables;
(iv) su capacidad para usar o vender el activo desarrollado; y
(v) la disponibilidad de recursos técnicos, financieros y de otro tipo adecuados para completar el activo en desarrollo.
Los gastos de desarrollo capitalizados se miden al costo menos la amortización acumulada y las pérdidas por deterioro, si las hubiere. Los gastos de desarrollo reconocidos inicialmente como gastos no se reconocen como activos en periodos posteriores.
h) Impairment of financial assets
La NIIF 9 "Instrumentos financieros" requiere un modelo de pérdida crediticia esperada en lugar de un modelo de pérdida crediticia incurrida según la NIC 39 "Instrumentos financieros: Reconocimiento y medición". El modelo de pérdida crediticia esperada (ECL) requiere que el Grupo contabilice las pérdidas crediticias esperadas y los cambios en esas pérdidas crediticias esperadas en cada fecha de presentación para reflejar los cambios en el riesgo crediticio desde el reconocimiento inicial de los activos financieros. El evento crediticio no tiene que ocurrir antes de que se reconozcan las pérdidas crediticias. La NIIF 9 "Instrumentos financieros" permite un enfoque simplificado para medir la provisión para pérdidas en un monto igual a las pérdidas crediticias esperadas de por vida para las cuentas por cobrar comerciales y los activos del contrato.
Los activos financieros del Grupo están sujetos al modelo de pérdidas crediticias esperadas.
The Group recognises a loss allowance for expected credit losses on receivables. The amount of expected credit losses is updated at each reporting date to reflect changes in credit risk since initial recognition of the respective financial instrument.
Las pérdidas crediticias esperadas se estiman utilizando una provisión basada en la experiencia histórica de pérdidas crediticias del Grupo, ajustada por factores que son específicos de los deudores, las condiciones económicas generales y una evaluación de la dirección actual y prevista de las condiciones a la fecha del informe. , incluido el valor del dinero en el tiempo cuando proceda.
As the Group is at an early stage and the volume of sales is very low, it does not have significant amounts of historic information on credit losses. Accordingly, only specific provisions are made if required. To analyse and adjust for any expected credit loss would likely skew the reported results for the year.
The Group considers a financial asset in default when contractual payments are between 30 to 180 days past due. However, in certain cases, the Group may also consider a financial asset to be in default when internal or external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full before taking into account any credit enhancements held by the Group. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows.
i) Impairment of non-financial assets
En cada fecha de presentación de informes, los Administradores evalúan si existen indicios de que un activo puede estar deteriorado. Si existen indicios, o cuando se requieren pruebas anuales de deterioro para un activo, los Administradores estiman el monto recuperable del activo. El monto recuperable de un activo es el mayor entre el valor razonable menos los costos de venta de un activo o unidad generadora de efectivo y su valor en uso, y se determina para un activo individual, a menos que el activo no genere entradas de efectivo que sean en gran medida independientes de los de otros activos o grupos de activos. Cuando el valor en libros de un activo o unidad generadora de efectivo excede su monto recuperable, los Administradores consideran que el activo se ha deteriorado y reducen el activo en cuestión a su monto recuperable. Al evaluar el valor en uso, los Directores descuentan los flujos de efectivo futuros estimados a su valor presente utilizando una tasa de descuento antes de impuestos que refleja las evaluaciones actuales del mercado del valor del dinero en el tiempo y los riesgos específicos del activo. Al determinar el valor razonable menos los costos de venta, los Directores consideran transacciones de mercado recientes, si están disponibles. Si no se pueden identificar dichas transacciones, los Consejeros utilizan un modelo de valoración adecuado.
Cuando corresponde, el Grupo reconoce pérdidas por deterioro de las operaciones continuadas en el “Estado de Ganancias o Pérdidas y Otro Resultado Integral” en aquellas categorías de gastos consistentes con la función del activo deteriorado.
j) Right of use assets
Un activo por derecho de uso se reconoce en la fecha de inicio de un arrendamiento. El activo por derecho de uso se mide al costo, que comprende el monto inicial del pasivo por arrendamiento, ajustado por, según corresponda, cualquier pago por arrendamiento realizado en la fecha de inicio o antes, neto de cualquier incentivo por arrendamiento recibido, cualquier costo directo inicial incurrido, y una estimación de los costos en los que se espera incurrir para desmantelar y retirar el activo subyacente, y restaurar el sitio o el activo.
Los activos por derecho de uso se deprecian en línea recta durante el período no vencido del arrendamiento o la vida útil estimada del activo, cualquiera que sea menor. Los activos por derecho de uso están sujetos a deterioro o ajustados por cualquier nueva medición de los pasivos por arrendamiento.
El Grupo ha optado por no reconocer un activo por derecho de uso y el correspondiente pasivo por arrendamiento para arrendamientos a corto plazo con plazos de 12 meses o menos y arrendamientos de activos de bajo valor. Los pagos de arrendamiento de estos activos se cargan a resultados a medida que se incurren.
k) Financial instruments
Los activos y pasivos financieros se reconocen en el Estado de Situación Financiera Consolidado cuando el Grupo se convierte en parte de las disposiciones contractuales de los instrumentos. Los activos financieros y los pasivos financieros se miden inicialmente a su valor razonable.
Los costos de transacción que son directamente atribuibles a la adquisición o emisión de activos financieros y pasivos financieros (que no sean activos financieros y pasivos financieros a valor razonable con cambios en resultados) se suman o deducen del valor razonable de los activos financieros o pasivos financieros, en su caso, en el reconocimiento inicial.
Instrumentos financieros no derivados
Non-derivative financial instruments comprise trade and other receivables, security deposits, cash and cash equivalents, convertible loan notes, lease liabilities and trade and other payables.
Convertible loan notes (CLNs)
Each component of the loan note (principal/ interest and conversion feature) are assessed separately. The management has assessed the entire instrument as financial liability. Based on that, convertible loan notes are recorded at their issue price and are carried at their face value. Subsequently, the CLN is accounted for at amortised cost. Any interest due on these CLNs is recorded on accrual basis. On conversion/redemption, the face value of converted CLNs is reduced from the total carried value.
Cuentas comerciales y otras cuentas por cobrar
Los deudores comerciales y otras cuentas por cobrar se reconocen inicialmente a su valor razonable. Posterior al reconocimiento inicial se miden al costo amortizado usando el método de interés efectivo, menos cualquier pérdida por deterioro.
Comerciales y otras cuentas a pagar
Las cuentas comerciales y otras cuentas por pagar se reconocen inicialmente a su valor razonable. Posterior al reconocimiento inicial se miden al costo amortizado utilizando el método de interés efectivo.
Efectivo y equivalentes de efectivo
El efectivo y los equivalentes de efectivo comprenden saldos de efectivo y depósitos a la vista.
l) Financial assets
(i) Reconocimiento y medición inicial
The Group classifies its existing financial assets as financial assets carried at amortised cost. The classification depends on the nature of the assets and the purpose for which the assets were acquired. Management determines the classification of its financial assets at initial recognition and this designation at every reporting date.
Activos financieros contabilizados a costo amortizado
Financial assets carried at amortised cost are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They are presented as current assets, except for those expected to be realised later than twelve months after the reporting date which are classified as non-current assets. They include cash and bank balances, trade and other receivables and a rental deposit.
Posterior al reconocimiento inicial, estos activos se miden al costo amortizado utilizando el método de la tasa de interés efectiva, menos el deterioro.
El deterioro de los activos financieros se considera utilizando una revisión prospectiva de pérdida crediticia esperada (ECL).
(ii) Baja en cuentas
Financial assets are de-recognised when the contractual rights to receive cash flows from the financial assets have expired or have been transferred and the Group has transferred substantially all the risks and rewards of ownership. On de-recognition of a financial asset in its entirety, the difference between the carrying amount and the sum of the consideration received and any cumulative gain or loss that had been recognised in other comprehensive income is recognised in profit or loss.
m) Financial liabilities
The Company's financial liabilities include trade and other payables, accruals and convertible loan notes. Financial liabilities are recognised when the Group becomes a party to the contractual provision of the instrument. All financial liabilities are recognised initially at their fair value, net of transaction costs, and subsequently measured at amortised cost, using the effective interest method, unless the effect of discounting would be insignificant, in which case they are stated at cost.
The Group derecognises financial liabilities when, and only when, the Company's obligations are discharged, cancelled or they expire.
n) Share capital
El producto de la emisión de acciones ordinarias se clasifica como patrimonio. Los importes superiores al valor nominal de las acciones emitidas se reconocen como prima de emisión.
Los costos de transacción que son directamente atribuibles a la emisión de capital social se deducen de la prima de emisión.
o) Taxation
Impuesto corriente
El impuesto corriente es la cantidad esperada de impuestos sobre la renta por pagar con respecto a la ganancia fiscal para el período sobre el que se informa y se mide utilizando las tasas impositivas que han sido promulgadas o sustancialmente promulgadas al final del período sobre el que se informa, y cualquier ajuste al impuesto por pagar con respecto de ejercicios anteriores.
Impuesto diferido
El impuesto diferido se establece en su totalidad, utilizando el método del pasivo, sobre las diferencias temporarias que surgen entre las bases fiscales de los activos y pasivos y sus valores en libros en los Estados Financieros del Grupo. El impuesto diferido se determina utilizando tasas impositivas (y leyes) que han sido promulgadas o sustancialmente promulgadas a la fecha de presentación y que se espera que se apliquen cuando se realice el impuesto diferido relacionado o se liquide el pasivo diferido.
Los activos por impuestos diferidos se reconocen en la medida en que sea probable que se disponga de ganancias fiscales futuras contra las que poder compensar las diferencias temporarias.
p) Cash and cash equivalents
El efectivo y los equivalentes de efectivo incluyen el efectivo en caja, los depósitos a la vista y otras inversiones altamente líquidas a corto plazo con vencimientos originales de tres meses o menos que son fácilmente convertibles en cantidades conocidas de efectivo y que están sujetas a un riesgo insignificante de cambios en el valor.
q) Finance income and expense
Los ingresos financieros comprenden los intereses por cobrar sobre los fondos invertidos.
Los ingresos por intereses y los intereses por pagar se reconocen en resultados a medida que se devengan, utilizando el método de interés efectivo.
r) Beneficios a los empleados
Beneficios a corto plazo
Short-term employee benefit obligations; wages, salaries, paid annual leave, sick leave, bonuses and non-monetary benefits, are measured on an undiscounted basis and are expensed in the profit or loss as the related service is provided. A liability is recognised for the amount expected to be paid under short-term cash bonus or profit-sharing plans if the Group has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee and the obligation can be estimated reliably.
Beneficios a largo plazo
Planes de contribución definida
The income statement expense for the defined contribution pension plans operated represents the contributions payable for the year. As required by law, companies in Malaysia make contributions to the state pension scheme, the Employees Provident Fund ("EPF"), which is charged to profit or loss in the year to which they relate. Once the contributions have been paid, the Group has no further liabilities in respect of the defined contribution plans.
s) Earnings per share
La utilidad básica por acción se calcula utilizando el promedio ponderado de acciones en circulación durante el período. La utilidad por acción diluida se calcula utilizando el número promedio ponderado de acciones durante el período más el efecto dilutivo de las acciones ordinarias potenciales dilutivas en circulación durante el período.
t) Títulos de acciones
Equity-settled share-based payments against services received are measured at fair value at the date of grant (i.e. date of agreement) by reference to the fair value of the services received. The fair value determined at the grant date is expensed on a straight-line basis over the service period. A corresponding adjustment is made to equity as share warrant reserve and accounts receivable as prepaid expense.
4. ESTIMACIONES Y JUICIOS CONTABLES
La preparación de información financiera de conformidad con las NIIF requiere que la administración realice juicios, estimaciones y suposiciones que afectan la aplicación de las políticas contables y los montos informados de activos, pasivos, ingresos y gastos. Las estimaciones y suposiciones asociadas se basan en la experiencia histórica y varios otros factores que se consideran razonables bajo las circunstancias, cuyos resultados forman la base para hacer juicios sobre los valores en libros de los activos y pasivos que no son fácilmente evidentes a partir de otras fuentes.
Las estimaciones clave y los supuestos subyacentes relacionados con el futuro y otras fuentes clave de incertidumbre en las estimaciones a la fecha del estado de situación financiera, que tienen un riesgo significativo de causar un ajuste material en los valores en libros de los activos y pasivos dentro del próximo período financiero se revisan en de forma continua. Las revisiones a las estimaciones contables se reconocen en el período en el que se revisa la estimación si la revisión afecta solo a ese período, o en el período de la revisión y períodos futuros si la revisión afecta tanto al período actual como a los futuros.
During the year, the management estimates and judgements were involved in revenue recognition from software development projects and cashflow forecast for going concern assessments.
5. INGRESOS
|
| Año terminó 31 October 2023 | Año terminó 31 October 2022 | ||
| £ | £ | |||
|
| ||||
Ingresos por desarrollo de software | 207,209 | 496,296 | |||
Total | 207,209 | 496,296 | |||
Todos los ingresos se generaron en Asia.
During the year ended 31 October 2023, one customer accounted for £132,911 (64%) (2022: one customer accounted for £438,824 (88%)) of the Group's revenues. There were three customers in all during the year and the second highest customer accounted for 24% of the turnover.
Un análisis de los ingresos por el momento de la entrega de bienes y servicios a los clientes para 2023 es el siguiente:
| 31 de octubre de 2023 | 31 de octubre de 2022 |
| Servicios transferidos a lo largo del tiempo | Servicios transferidos a lo largo del tiempo |
| £ | £ |
Ingresos por desarrollo de software | 207,209 | 496,296 |
Total | 207,209 | 496,296 |
6. INFORMES POR SEGMENTOS
IFRS 8 defines operating segments as those activities of an entity about which separate financial information is available and which are evaluated by the Board of Directors to assess performance and determine the allocation of resources. The Board of Directors is of the opinion that under IFRS 8 the Group has only one operating segment, information technology product and services. In addition, the Group is only trading in Asia and therefore there is only one geographical segment. The Board of Directors assesses the performance of the operating and geographical segments using financial information that is measured and presented in a manner consistent with that in the Financial Statements. Segmental reporting will be reviewed and considered in light of the development of the Group's business over the next reporting period.
7. PÉRDIDA DE EXPLOTACIÓN ANTES DE IMPUESTOS
Loss from continuing operations has been arrived at after charging and (crediting):
|
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|
|
|
|
|
| ||||||
| Año terminó 31 October 2023 | Año terminó 31 de octubre de 2022 | ||||||||||||
| £ | £ | ||||||||||||
La remuneración del Auditor: |
|
| ||||||||||||
- Auditoría de los estados financieros |
|
| ||||||||||||
- - Current auditor - accrued fees | 56,670 | 55,873 | ||||||||||||
- - Predecessor auditor | - | 43,500 | ||||||||||||
- Other services - predecessor auditor (included under professional fees) | - | 3,500 | ||||||||||||
|
| |||||||||||||
| Año terminó 31 October 2023 | Año terminó 31 October 2022 | ||||||||||||
| El costo de ventas: | £ | £ | |||||||||||
| Compras | 73,700 | 356,542 | |||||||||||
|
|
| ||||||||||||
|
| 73,700 | 356,542 | |||||||||||
|
Año terminó 31 October 2023 |
Año terminó 31 October 2022 | ||||||||||||
| Gastos administrativos: | £ | £ | |||||||||||
| Remuneración del Director | 88,906 | 95,457 | |||||||||||
| Sueldos y salarios | 148,645 | 106,964 | |||||||||||
| Honorarios de consultoría | 54,750 | 50,500 | |||||||||||
| Depreciación de activos fijos tangibles | 1,848 | 1,869 | |||||||||||
| Costos de oficina | 10,985 | 3,821 | |||||||||||
| Honorarios profesionales | 82,142 | 37,911 | |||||||||||
| Tasas regulatorias | 35,164 | 37,269 | |||||||||||
| Costos de propiedad | 17,778 | 11,503 | |||||||||||
| Honorarios de secretaria | 32,606 | 35,407 | |||||||||||
| Honorarios de auditoría | 56,670 | 98,500 | |||||||||||
| Travel. Subsistence and Entertainment | 15,882 | 26,602 | |||||||||||
| Otros costos | 34,870 | 28,563 | |||||||||||
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| ||||||||||||
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| 580,246 | 534,366 | |||||||||||
8. GASTOS DE PERSONAL Y REMUNERACIONES FUNDAMENTALES DE LA GESTIÓN
| Año terminó 31 October 2023 | Año terminó 31 October 2022 | |||
| Gastos de personal: | £ | £ | ||
| Sueldos y salarios | 233,355 | 242,556 | ||
| Costos de seguridad social | 5 | 437 | ||
| Beneficios post-empleo | 6,646 | 1,440 | ||
|
| 240,006 | 244,433 | ||
|
|
| |||
The wages and salaries includes staff cost pertaining to discontinued operations amounting to £2,454 (2022: £42,012).
Key management personnel are considered to be the directors and three senior members of staff. Their remuneration was as follows:
| Año terminó 31 October 2023 | Año terminó 31 October 2022 | |||
| Personal de gestión clave: | £ | £ | ||
| Wages and salaries (including directors as detailed in the Directors' Remuneration Report on page 15 of the Annual Report 2023) | 133,419 | 162,559 | ||
| Costos de seguridad social | 5 | 113 | ||
| Beneficios post-empleo | 349 | 913 | ||
|
| 133,773 | 163,585 | ||
Incluido dentro de las acumulaciones hay £ 5,891 (2022: £ 6,420), que se relaciona con la remuneración de los directores aún por pagar.
The average monthly number of employees during the year ended 31 October 2023 was as follows:
| Año terminó 31 October 2023 | Año terminó 31 October 2022 | |||
|
| No. | No. | ||
| Administración | 5 | 6 | ||
| Administrativo | 2 | 3 | ||
| Operaciones | 6 | 6 | ||
|
| 13 | 15 | ||
9. FISCALIDAD
The Company is incorporated in the Cayman Islands, and its activities are subject to taxation at a rate of 0%. Loss before taxation is £465,815
The income tax rate in Malaysia is calculated at the Malaysian statutory tax rate of 24% of the chargeable income for the year, except for companies with paid-up capital of RM2.5million (approximately £460,000) and below at the beginning of the basis period and gross income from source of business not exceeding RM50million (approximately £9.4 million), the first RM600,000 (approximately £110,000) of chargeable income is subject to tax at a rate of 17%.
A reconciliation of income tax applicable to the loss before taxation at the statutory tax rate to the income tax at the effective tax rate of Alchemist Codes is as follows:
| Año terminó 31 October 2023 | Año terminó 31 October 2022 | |||
|
| £ | £ | ||
| Pérdida antes de impuestos | (23,079) | (304,175) | ||
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| |||
| Impuesto calculado a la tasa de impuesto estándar aplicable a los Códigos Alchemist del 24% (2022: al 24%) | (5,539) | (73,002) | ||
| Efectos fiscales de: |
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| Gastos no deducibles | 20,527 | 20,442 | ||
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| |||
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| Taxable profit relieved against tax losses brought forward | (14,988) | - | ||
| Pérdidas fiscales no compensadas trasladadas | - | 52,560 | ||
| Cargo / (crédito) de impuestos | - | - | ||
The income tax rate used excludes that of Alcodes International due to the scaling of Hong Kong tax rates making any estimation of tax rates used difficult to apply. The loss before taxation for Alcodes International is £37,383 and are unrelieved tax losses carried forward.
The Group has not recognised deferred tax assets on carried forward tax losses as the management is not certain that it will generate sufficient taxable profits in the near future to absorb such carried forward tax losses. The unused tax losses carried forward for Alcodes International amount to £101,733 and for Alchemist Codes Sdn Bhd £795,655.
10. GANANCIAS POR ACCIÓN
The Group presents basic and diluted earnings per share information for its ordinary shares. Basic earnings per share is calculated by dividing the loss attributable to ordinary shareholders of the Company by the weighted average number of ordinary shares in issue during the reporting period. Diluted earnings per share are determined by adjusting the profit or loss attributable to ordinary shareholders and the weighted average number of ordinary shares outstanding for the effects of all dilutive potential ordinary shares.
There is no difference between the basic and diluted earnings per share, as the warrants and loan notes are anti dilutive in nature and therefore the diluted loss per share has not been presented.
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Año terminado el 31 de octubre de 2023 |
Año terminado 31 October 2022 | |
Pérdida atribuible a los accionistas ordinarios (£) | ||||
Operaciones continuas | (503,198) | (336,731) | ||
Interrumpir operaciones | (23,079) | (304,175) | ||
Básico - Número medio ponderado de acciones | 64,760,721 | 64,760,721 | ||
Ganancias básicas por acción (expresadas en libras esterlinas por acción) |
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de operaciones continuas |
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| (0.008) | (0.005) |
de operaciones discontinuadas |
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| (0.0004) | (0.005) |
11. PROPIEDAD PLANTA Y EQUIPO
| Instalaciones y accesorios | Equipo de oficina | Equipo de computadora | Mejoras arrendatarias | Total |
| £ | £ | £ | £ | £ |
Cost
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| ||||
A 1 de noviembre de 2021 | 71,450 | 13,610 | 33,282 | 93,081 | 211,423 |
Adiciones | - | - | - | - | - |
Disposiciones | - | (547) | (28,815) | - | (29,362) |
Diferencias de conversión de moneda | 3,076 | 1,688 | 1,421 | 3,979 | 10,164 |
Al 31 de octubre de 2022 | 74,526 | 14,751 | 5,888 | 97,060 | 192,225 |
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A 1 de noviembre de 2022 | 74,526 | 14,751 | 5,888 | 97,060 | 192,225 |
Adiciones | - | 1,149 | 502 | - | 1,651 |
Disposiciones | (74,329) | (5,062) | (4,043) | (97,060) | (180,494) |
Diferencias de conversión de moneda | (5) | (597) | (109) | - | (711) |
Al 31 de octubre de 2023 | 192 | 10,241 | 2,238 | - | 12,671 |
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Depreciación acumulada |
| ||||
A 1 de noviembre de 2021 | 8,413 | 2,657 | 13,685 | 11,461 | 36,216 |
Depreciación del año | 7,432 | 2,400 | 6,906 | 9,657 | 26,395 |
Discapacidad | 58,279 | - | - | 75,403 | 133,682 |
Disposiciones | - | (136) | (18,247) | - | (18,383) |
Diferencias de conversión de moneda | 402 | 484 | 620 | 539 | 2,045 |
Al 31 de octubre de 2022 | 74,526 | 5,405 | 2,964 | 97,060 | 179,955 |
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A 1 de noviembre de 2022 | 74,526 | 5,405 | 2,964 | 97,060 | 179,955 |
Depreciación del año | - | 2,307 | 1,042 | - | 3,349 |
Disposiciones | (74,329) | (2,081) | (3,839) | (97,060) | (177,309) |
Diferencias de conversión de moneda | (5) | (53) | (150) | - | (208) |
Al 31 de octubre de 2023 | 192 | 5,578 | 17 | - | 5,787 |
Cantidades en libros |
| ||||
Al 31 de octubre de 2023 | - | 4,663 | 2,221 | - | 6,884 |
Al 31 de octubre de 2022 | - | 9,346 | 2,924 | - | 12,270 |
12. DISPOSAL OF SUBSIDIARY
On 31 October 2023, the Company commenced the strike off process to dispose of its subsidiary Alchemist Codes Sdn Bhd.
The loss on discontinued operation, net of tax was:
| Año terminó 31 October 2023 | Año terminó 31 October 2022 | |||||
| £ | £ | |||||
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| Ingresos | - | 2,092 | ||||
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| El costo de ventas | - | (27,920) | ||||
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| Beneficio bruto | - | (25,828) | ||||
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| Otra entrada | 2,821 | - | ||||
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| Gastos administrativos |
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| ||||
| Remuneración del Director | (2,146) | - | ||||
| Sueldos y salarios | (308) | (36,591) | ||||
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| |||||
| Pérdida por enajenación de activos fijos | (2,981) | (10,467) | ||||
| Depreciación de activos fijos tangibles | (459) | (17,618) | ||||
| Depreciación de activos por derecho de uso | (66,571) | (96,877) | ||||
| Lease restoration costs | (13,839) | (18,500) | ||||
| Costos de oficina | (2,881) | (3,190) | ||||
| Honorarios profesionales | (484) | (737) | ||||
| Costos de propiedad | (2,053) | (4,052) | ||||
| Honorarios de secretaria | (535) | (502) | ||||
| Honorarios de auditoría | - | (873) | ||||
| Travel. Subsistence and Entertainment | (543) | (73) | ||||
| Otros costos | (4,339) | (26,786) | ||||
| Sub-letting income | 71,501 | 67,910 | ||||
|
| (25,638) | (148,356) | ||||
| Cargo por deterioro | - | (133,682) | ||||
| Ganancia en divisas | 1,664 | 11,303 | ||||
| Costos financieros | (1,926) | (7,612) | ||||
| Loss on discontinued operation net of tax | (23,079) | (304,175) | ||||
Cashflow from discontinued operating activities | 57,283 | 51,064 | |||||
Cashflow from discontinued investing activities | - | - | |||||
Cashflow (used in) discontinued financing activities | (79,937) | (99,355) | |||||
13. RIGHT-OF-USE ASSETS AND LEASE LIABILITIES
Tierra y edificios | Total | |
| £ | £ |
Cost
|
| |
A 1 de noviembre de 2021 | 280,131 | 280,131 |
Diferencias de conversión de moneda | 11,971 | 11,971 |
Al 31 de octubre de 2022 | 292,102 | 292,102 |
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A 1 de noviembre de 2022 | 292,102 | 292,102 |
Disposiciones | (280,131) | (280,131) |
Diferencias de conversión de moneda | (11,971) | (11,971) |
Al 31 de octubre de 2023 | - | - |
|
|
|
Amortización acumulada
|
| |
A 1 de noviembre de 2021 | 116,721 | 116,721 |
Depreciación del año | 96,877 | 96,877 |
Diferencias de conversión de moneda | 5,478 | 5,478 |
Al 31 de octubre de 2022 | 219,076 | 219,076 |
|
| |
A 1 de noviembre de 2022 | 219,076 | 219,076 |
Depreciación del año | 66,571 | 66,571 |
Disposiciones | (291,125) | (291,125) |
Diferencias de conversión de moneda | 5,478 | 5,478 |
Al 31 de octubre de 2023 | - | - |
Cantidades en libros |
| |
Al 31 de octubre de 2023 | - | - |
Al 31 de octubre de 2022 | 73,026 | 73,026 |
Los pagos de arrendamiento mínimos futuros asociados con estos arrendamientos fueron los siguientes:
Como en Octubre 31 2023 | Como en Octubre 31 2022 | |
| £ | £ |
A más tardar un año | - | 88,690 |
Más de un año y no más de cinco años | - | - |
Total de los pagos mínimos por el arrendamiento | - | 88,690 |
Menos cargos financieros futuros | - | (10,677) |
Valor presente de los pagos mínimos de arrendamiento | - | 78,013 |
Responsabilidad actual | - | 78,013 |
Pasivo no corriente | - | - |
- | 78,013 |
The lease expired in July 2023 and the option to extend it was not taken up.
The interest paid on lease liability is £1,926 (2022: £7,879). The lease rental paid on short-term leases is £17,778 (2022: £12,875).
14. COMERCIALES Y OTRAS CUENTAS A COBRAR
|
|
| Como en 31 October 2023 | Como en 31 October 2022 | ||||
|
|
| £
| £
| ||||
Cuentas por cobrar comerciales | - | 773 | ||||||
Depósitos de alquiler | - | 31,109 | ||||||
Pagos anticipados y otras cuentas por cobrar | 41,718 | 34,526 | ||||||
41,718 | 66,408 | |||||||
The rental deposit was taken against the final liability settled on the expiry of the lease.
15. EFECTIVO Y EQUIVALENTES DE EFECTIVO
|
|
| Como en 31 October 2023 | Como en 31 October 2022 | |
|
|
| £
| £
| |
Fixed deposits held with bank | - | 12,872 | |||
Efectivo en el banco | 135,332 | 623,004 | |||
Dinero en efectivo | 113 | 583 | |||
135,445 | 636,459 |
El efectivo en el banco genera intereses a tasas flotantes basadas en las tasas diarias de depósitos bancarios.
16. ACUMULACIONES Y OTRAS CUENTAS A PAGAR
|
|
| Como en 31 October 2023 | Como en 31 October 2022 | |
|
|
| £
| £
| |
Acreedores comerciales | 2,000 | - | |||
Otros acreedores | 113 | 32,975 | |||
Acumulaciones | 101,708 | 96,825 | |||
Ingresos diferidos | 51,740 | 6,979 | |||
Impuestos y seguridad social | 1,257 | 935 | |||
156,818 | 137,714 |
Included within accruals is £5,891 (2022: £6,420), which relates to Directors' remuneration yet to be paid and interest on loan notes of £42,055 (2022:17,055). All the deferred income in the previous year was recorded in the current year and the entire deferred revenue at the current year end will be recognised next year.
17. LEASE RESTORATION PROVISION
|
|
| Como en 31 October 2023 | Como en 31 October 2022 | |
|
|
| £
| £
| |
Saldo b/f | 18,500 | - | |||
Provision used | (18,500) | 18,500 | |||
Saldo c/f | - | 18,500 |
The lease expired in July 2023, and the Group made a provision in the year to 31 October 2022 for 50% of the estimated costs of restoring its Malaysian office to its original specification amounting to £18,500. The balance of the remaining actual costs were expensed in the year to 31 October 2023 as the Company did not renew its lease and the Malaysian subsidiary was closed down.
18. CAPITAL SOCIAL
| Número | Nominal propuesta de £ | |
COMERCIO |
| ||
Acciones ordinarias de 0.01 libras esterlinas cada una | 800,000,000 | 8,000,000 | |
Al 31 de octubre de 2023 |
64,760,721 |
647,607 |
| Como en | Como en | |
| Octubre 31 2023 | Octubre 31 2022 | |
| £ | £ | |
Como a principios de año | 647,607 | 647,607 | |
Emitidos durante el año | - | - | |
Como a fin de año | 647,607 | 647,607 | |
Los tenedores de acciones ordinarias tienen derecho a recibir los dividendos que se declaren periódicamente y tienen derecho a un voto por acción en las asambleas de la Compañía.
19. RESERVA DE CONVERSIÓN DE MONEDA EXTRANJERA
La reserva de conversión de moneda extranjera representa las diferencias de cambio acumuladas que surgen de la conversión de los estados financieros de las subsidiarias extranjeras y no es distribuible en forma de dividendos.
20. SHARE WARRANT RESERVE
On 3 October 2022 the Company granted 300,000 warrants to Guild Financial Advisory ("GFA"), the Company's corporate adviser, exercisable at a price of £0.01 for a period of up to ten years. The warrants were granted in return in part for their corporate financial services carried out for a period of 12 months whereby it was agreed that GFA would provide services for an amount of £24,000 with £12,000 being settled in cash and the balance of £12,000 represented by the issue of the warrants. As a result of this the fair value of the warrants was deemed to be £12,000 spread evenly over the 12-month period of the contract, £1,000 was expensed in October 2022 and £11,000 has been expensed during the current year to October 2023 and £12,000 taken to a warrant reserve in October 2022.
21. NOTAS DE PRÉSTAMO CONVERTIBLES
On 25 January 2022, the Company entered into an unsecured convertible loan note agreement for a total subscription of £500,000 (the "Loan Notes"). Pursuant to this instrument, the Company immediately raised £500,000 through the issue of unsecured convertible loan notes to several existing investors (together the "Noteholders"), including an Executive Director of the Company.
On 31 July 2023 the Company came to an agreement to amend certain terms of the convertible loan note instrument whereby the expiration date of the convertible loan notes was extended by a period of 12 months from 24 January 2024 to 24 January 2025. All other details of the Convertible Loan Note Facility remained unchanged, namely and the loan notes can be repaid, in part or in full, by the Company on 31 December in any year prior to the Expiration Date by giving not less than 14 days' written notice to the Noteholders. All outstanding Loan Notes attract interest at a rate of 5% per annum from the date of issue (25 January 2022) to the date of repayment or conversion and is payable on the anniversary of the issue of the Loan Notes.
The Loan Notes shall be convertible into new ordinary shares of the Company at the lesser of 11 pence per ordinary share or the Volume Weighted Average Price of the Company's ordinary shares on the London Stock Exchange in the seven-day period prior to the date on which the Loan Note is converted into ordinary shares. The Loan Notes shall be convertible, in part or in full, at any time from the date of issue until the Expiration Date at the option of the Noteholders by giving to the Company at least one week's written notice.
Las Notas de Préstamo han sido emitidas a los Tenedores de las Notas de la siguiente manera:
a. £250,000 to Li Chun Chung, an Executive Director of the Company and who has an interest in 1,425,500 ordinary shares in the Company, representing 2.2% of the Company's issued share capital
b. £125,000 to Soon Beng Gee who has an interest in 11,766,650 ordinary shares, representing 18.2% of the Company's issued share capital
c. £125,000 to Lee Chong Liang who has an interest in 11,766,650 ordinary shares, representing 18.2% of the Company's issued share capital
Accrual of interest on loan notes was £42,055 at year end.
22. GESTIÓN DE RIESGOS FINANCIEROS
a) Categorías de instrumentos financieros
Los importes en libros y el valor razonable de los activos del Grupo fLos activos y pasivos financieros al final del período sobre el que se informa son los siguientes:
| Activos financieros: | |||||
| Como en | Como en |
| |||
| 31 October 2023 | 31 October 2022 |
| |||
| £ | £ |
| |||
| Cuentas por cobrar comerciales | - | 773 |
| ||
| Depósitos de alquiler | - | 31,109 |
| ||
| Pagos anticipados y otras cuentas por cobrar | 41,718 | 34,526 |
| ||
| Efectivo y equivalentes de efectivo | 135,445 | 636,459 |
| ||
|
| 177,163 | 702,867 |
| ||
Pasivos financieros a costo amortizado:
| Como en | Como en | |||
| 31 October 2023 | 31 October 2022 | |||
| £ | £ | |||
| Notas de préstamo convertibles | 500,000 | 500,000 | ||
| Comercio a pagar | 2,000 | - | ||
| Devengos y otras cuentas a pagar | 154,818 | 137,714 | ||
| Provisiones | - | 18,500 | ||
| Arrendamientos financieros | - | 78,013 | ||
|
| 656,818 | 734,227 | ||
The financial assets and financial liabilities maturing within the next 12 months approximate their fair values due to the relatively short-term maturity of the financial instruments. The convertible loan notes mature post 12 months.
b) Objetivos y políticas de gestión del riesgo financiero
The Group is exposed to a variety of financial risks: market risk (including interest rate risk and currency risk), credit risk and liquidity risk. The risk management policies employed by the Group to manage these risks are discutido a continuación. Los principales objetivos de la función de gestión del riesgo financiero are establecer límites de riesgo y luego garantizar que la exposición al riesgo se mantenga dentro de estos límites. Las funciones de gestión del riesgo operacional y legal are tiene por objeto asegurar el correcto funcionamiento de las políticas y procedimientos internos para minimizar los riesgos operativos y legales.
i) Riesgos de tipos de interés
Ciertas tenencias de efectivo y equivalentes de efectivo se mantienen en cuentas con tasas variables. Si las tasas de interés aumentaran o disminuyeran en un 2%, el efecto no sería material.
ii) Riesgos de tipo de cambio
El Grupo está expuesto a las fluctuaciones del tipo de cambio ya que ciertas transacciones están denominadas en moneda extranjera.
Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate due to changes in foreign exchange rates.
The Group's exposure to the risk of changes in foreign exchange rates relates primarily to its financing activities (when cash balances are denominated other than in a company's functional currency).
Most of the Group's transactions are carried out in Pounds, Malaysian Ringgit ('RM') Hong Kong Dollar ('HK$') and United States Dollar ('US$'). Foreign currency risk is monitored closely on an ongoing basis to ensure that the net exposure is at an acceptable level.
The Group maintains a natural hedge whenever possible, by matching the cash inflows (revenue stream) and cash outflows used for purposes such as capital and operational expenditure in the respective functional currencies.
At 31 October 2023 the Group had £66,345 (2022: £288,357) of cash and cash equivalents in United States Dollar accounts. At 31 October 2023, had the exchange rate between the Pound Sterling and United States Dollar increased/decreased by 10%, the effect on the result in the period would be a gain of £7,372 (2022: £28,836) / loss of £6,031 (2022: £26,214).
iii) Riesgo de crédito
El riesgo de crédito se refiere al riesgo de que una contrapartearty incumplirá sus obligaciones contractuales dando como resultado una pérdida financiera para el Grupo. Las provisiones para créditos se hacen por pérdidas estimadas en las que se ha incurrido a la fecha del informe. Hasta la fecha no se han realizado dichos montos.
Concentrations of major credit risk exist to the extent that the equivalent of £60,441 of the Group's bank balances were held with DBS Bank Limited in Singapore and the equivalent of £62,490 was held with Standard Chartered Bank in Hong Kong. There are bank balances with other banks totalling to £12,514 were the credit risk is relatively low.
S&P Global Ratings affirmed on 31 October 2023 the issuer credit ratings of DBS Bank Limited at AA- and Standard Chartered at A+.
Accordingly, the Group considers that the credit risk in relation to its cash holding to be low.
iv) Riesgo de liquidez
El riesgo de liquidez es el riesgo de que el Grupo tenga dificultades para cumplir con las obligaciones asociadas a sus pasivos financieros. El enfoque del Grupo para administrar la liquidez es asegurar, en la medida de lo posible, que siempre tendrá suficiente liquidez para cumplir con sus obligaciones a su vencimiento, tanto en condiciones normales como de tensión, sin incurrir en pérdidas inaceptables o arriesgar la reputación del Grupo.
Los pasivos financieros del Grupo armi primitivoacresly the convertible loan notes and trade and other payables. For terms of convertible loan notes refer Note 21. The trade and other payables are unsecured, interest-free and repayable on demand. Details of trade payables are found in Note 16.
23. GESTIÓN DE CAPITAL
El Grupo administra su capital para garantizar que podrá continuar como un negocio en marcha mientras maximiza el rendimiento para los accionistas a través de la optimización del equilibrio entre deuda y capital.
The capital structure of the Group as at 31 October 2023 consisted of ordinary shares and equity attributable to the shareholders of the Company, totalling £(484,771) (2022: £41,936) (disclosed in the statement of changes in equity excluding share warrants reserve).
The capital structure is reviewed on an ongoing basis. As part of this review, the Directors consider the cost of capital and the risks associated with each class of capital.
24. OPERACIONES CON PARTES VINCULADAS
La retribución de los Consejeros de la Sociedad se establece en el Informe de la Comisión de Retribuciones.
Included within accruals is £5,947 (2022: £6,420), which relates to Directors' remuneration outstanding.
In addition to the remuneration, other costs incurred in relation to services provided by related parties of Directors were as follows:
A total of £37,350 (2022: £38,632) was paid during the year to Gracechurch Group for financial PR services, a company in which Harry Chathli is a director and shareholder.
A total of £18,000 (2022: £16,500) was paid to Ever Billions International Limited for general management services, a company in which Li Chun Chung is a director.
Revenue from AI Sport Asia for project management services, a company in which Ng Chun Fai, a Senior Manager of the Group, is a director, of £Nil (2022: £4,484) was recognised during the year.
Revenue from Consortium Family Office Ltd for project management services, a company in which Ng Chun Fai is a director, of £Nil (2022: £4,931) was recognised during the year.
There were no outstanding monies owed at the year end (2022: £Nil).
25. HECHOS SUBSECUENTES RELEVANTES
No existen hechos posteriores al balance significativos o revelables.
26. PARTE CONTROLADORA MÁXIMA
As at 31 October 2023, no one entity or individual owns greater than 50% of the issued share capital, or holds significant control over the Company. Therefore, the Directors have determined the Company does not have an ultimate controlling party.
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