Contents of the Financial Statements

for the Period Ended 31 December 2022

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

Directors' report period ended 31 December 2022

The directors present their report with the financial statements of the company for the period ended 31 December 2022

Directors

The directors shown below have held office during the whole of the period from
1 January 2022 to 31 December 2022

Ping Shi
Mo Yiu Poon
Rui Jin

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
28 April 2023

And signed on behalf of the board by:
Name: Rui Jin
Status: Director

Profit And Loss Account

for the Period Ended 31 December 2022

	2022	2021
	£	£
Turnover:	4,537,194	6,095,195
Cost of sales:	0	0
Gross profit(or loss):	4,537,194	6,095,195
Distribution costs:	0	0
Administrative expenses:	( 3,378,337 )	( 5,572,804 )
Other operating income:	0	0
Operating profit(or loss):	1,158,857	522,391
Interest receivable and similar income:	0	0
Interest payable and similar charges:	0	0
Profit(or loss) before tax:	1,158,857	522,391
Tax:	0	0
Profit(or loss) for the financial year:	1,158,857	522,391

Balance sheet

As at 31 December 2022

	Notes	2022	2021
		£	£
Called up share capital not paid:		0	0
Fixed assets
Intangible assets:	3	20,114	37,065
Tangible assets:	4	310,089	392,037
Investments:	5	122,077	122,077
Total fixed assets:		452,280	551,179
Current assets
Stocks:		0	0
Debtors:	6	2,894,849	2,851,456
Cash at bank and in hand:		8,429,591	7,329,485
Investments:		0	0
Total current assets:		11,324,440	10,180,941
Prepayments and accrued income:		0	0
Creditors: amounts falling due within one year:	7	( 727,511 )	( 841,768 )
Net current assets (liabilities):		10,596,929	9,339,173
Total assets less current liabilities:		11,049,209	9,890,352
Creditors: amounts falling due after more than one year:		0	0
Provision for liabilities:		0	0
Accruals and deferred income:		0	0
Total net assets (liabilities):		11,049,209	9,890,352
Capital and reserves
Called up share capital:		11,191,213	11,191,213
Share premium account:		0	0
Other reserves:		82,458,676	82,458,676
Profit and loss account:		(82,600,680 )	(83,759,537 )
Total Shareholders' funds:		11,049,209	9,890,352

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 December 2022 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 2022

• 1. Accounting policies

  Basis of measurement and preparation

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

  Turnover policy

  Revenue is recognised when (or as) a performance obligation is satisfied, i.e. when ‘control’ of the goods or servicesunderlying the particular performance obligation is transferred to the customer. The following criteria must also be metbefore revenue is recognised:Equity research income is recorded as income on a trade date basis when the relevant contract notes are executedor recognised at clients’ discretion.Income from Company recharges are recorded as income in accordance with the terms of signed underlyingagreements when the relevant significant acts have been completed. There are separate recharge agreementsrelating to fixed income business, equity business, corporate finance business, equity systems usage, property andIT support related costs.

  Tangible fixed assets depreciation policy

  Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated towrite off the cost or valuation, less estimated residual value based on prices prevailing at the date of acquisition orrevaluation, of each asset evenly over its expected useful life. Straight line method has been adapted, as follows:Office equipment – between 3 years and 5 yearsComputer equipment – between 3 years and 6 yearsAntiques and paintings – not depreciatedThe carrying values of tangible fixed assets are reviewed for impairment if events or changes in circumstances indicatethe carrying value may not be recoverable. If the recoverable amount of an asset is estimated to be less than its carryingamount, the carrying amount of the asset is reduced to the recoverable amount, unless the relevant asset is carried at arevalued amount, in which case the impairment is treated as a revaluation decrease. Impairment losses are recognisedas an expense immediately.An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are expectedto arise from the continued use of the asset. The gain or loss arising on the disposal or retirement of an asset is determinedas the difference between the sales proceeds and the carrying amount of the asset and is recognised in profit or loss.

  Intangible fixed assets amortisation policy

  This asset is both purchased software and also development of the Company’s internal systems. Expenditure onmaintenance activities is recognised as an expense in the period in which it is incurred. An internally-generated intangibleasset is recognised only if all of the following conditions are met:An asset is created that can be identified (such as software and new processes);It is probable that the asset created will generate future economic benefits; andThe development cost of the asset can be measured reliably.Internally-generated intangible assets are amortised on a straight-line basis over their useful life which is determined tobe 3 years. Where no internally-generated asset can be recognised, development expenditure is recognised as anexpense in the period in which it is incurred.An intangible asset is derecognised on disposal, or when no future economic benefits are expected from use or disposal.Gains or losses arising from derecognition of an intangible asset, measured as the difference between the net disposalproceeds and the carrying amount of the asset, and are recognised in profit or loss when the asset is derecognised.

  Valuation information and policy

  Details see annual Financial Statements.

  Other accounting policies

  Details see annual Financial Statements.

Notes to the Financial Statements

for the Period Ended 31 December 2022

• 2. Employees

  	2022	2021
  Average number of employees during the period	16	19