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<p>For the purposes of company reporting these items (i.e. AI Programs, Blockchain
and other Fin Tech) would be treated as intangible assets.</p><p>The Companies Act
2006 requirements for Large and Medium-sized Companies and Groups, includes a balance
sheet heading “Intangible Assets” to be included on the face of the balance sheet
as well as a specific sub-heading for, “concessions, patents, licences, trademarks,
and similar rights and assets”. We would expect AI programs, Blockchain and Fin Tech
to be accounted for under this heading.</p><p>For additional clarity UK generally
accepted accounting practices (GAAP) also require detailed disclosures on intangible
assets, where they are material to the company’s financial position, to be included
in the notes attached to the financial statements.</p>
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