Contents of the Financial Statements

for the Period Ended 31 December 2019

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

Directors' report period ended 31 December 2019

The directors present their report with the financial statements of the company for the period ended 31 December 2019

Directors

The directors shown below have held office during the whole of the period from
12 November 2018 to 31 December 2019

Ahmed Adnan Sadiq
Dmitry Serov

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
6 April 2021

And signed on behalf of the board by:
Name: Ahmed Adnan Sadiq
Status: Director

Profit And Loss Account

for the Period Ended 31 December 2019

	14 months to 31 December 2019
	£
Turnover:	10,420,801
Cost of sales:	( 10,064,467 )
Gross profit(or loss):	356,334
Administrative expenses:	( 5,187,810 )
Other operating income:	1,793
Operating profit(or loss):	(4,829,683)
Interest receivable and similar income:	4,742
Interest payable and similar charges:	( 42,694 )
Profit(or loss) before tax:	(4,867,635)
Tax:	( 8,955 )
Profit(or loss) for the financial year:	(4,876,590)

Balance sheet

As at 31 December 2019

	Notes	14 months to 31 December 2019
		£
Fixed assets
Investments:	3	4,441,654
Total fixed assets:		4,441,654
Current assets
Cash at bank and in hand:		27,268
Total current assets:		27,268
Creditors: amounts falling due within one year:	4	( 19,636 )
Net current assets (liabilities):		7,632
Total assets less current liabilities:		4,449,286
Total net assets (liabilities):		4,449,286
Capital and reserves
Called up share capital:		1
Share premium account:		4,467,927
Profit and loss account:		(18,642 )
Total Shareholders' funds:		4,449,286

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 December 2019 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.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 December 2019

• 1. Accounting policies

  Basis of measurement and preparation

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

  Tangible fixed assets depreciation policy

  Property, plant and equipment are stated at cost net of accumulated depreciation and/or accumulated impairment losses, if any. When significant parts of property, plant and equipment are required to be replaced at intervals, the Group recognises such parts as individual assets with specific useful economic lives and depreciates them accordingly. Likewise, when major inspection is performed, its cost is recognised in the carrying amount of the plant and equipment as a replacement if the recognition criteria are satisfied. All other repair and maintenance costs are recognised in the profit or loss as incurred.Depreciation is provided on all property plant and equipment, expect freehold property on a straight-line basis over the estimated useful lives as follows:Leasehold improvement 4 yearsComputer hardware 3 yearsOffice furniture and fittings 5 yearsAn item of property plant and equipment is derecognised upon disposal or when no future economic benefits are expected from its use. Any gain or loss arising on de-recognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the profit or loss when the asset is derecognised. The residual values, useful lives and methods of depreciation of property plant and equipment are reviewed at each financial year end and adjusted prospectively, if appropriate.

  Intangible fixed assets amortisation policy

  Intangible assets acquired separately are measured on initial recognition at cost. Following initial recognition, intangible assets are carried at cost less any accumulated amortisation and accumulated impairment losses. Internally generated intangibles, excluding development expenditures, are not capitalised and the related expenditure is reflected in profit or loss in the period in which the expenditure is incurred.Development expenditures on an individual project are recognised as an intangible asset when the Company can demonstrate:The technical feasibility of completing the intangible asset so that the asset will be available for use or sale Its intention to complete and its ability and intention to use or sell the asset How the asset will generate future economic benefits The availability of resources to complete the asset The ability to measure reliably the expenditure during development Following initial recognition of the development expenditure as an asset, the asset is carried at cost less any accumulated amortisation and accumulated impairment losses. Amortisation of the asset begins when development is complete and the asset is available for use and extent over the period of expected future benefit. Amortisation is recorded in cost of sales. During the period of development, the asset is tested for impairment annually. The Company has recognised development expenditures to develop the online platforms to organize and market through the purchase and sale of used vehicles in emerging markets. The estimated useful life is normally 3-5 years. As the online platforms are not available for use at year end, no amortisation has been recognised and the intangible assets were tested for impairment.

Notes to the Financial Statements

for the Period Ended 31 December 2019

• 2. Employees

  	14 months to 31 December 2019
  Average number of employees during the period	14