REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2021 |
for |
Game Analytics Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2021 |
for |
Game Analytics Limited |
Game Analytics Limited (Registered number: 09214168) |
Contents of the Financial Statements |
for the Year Ended 31 December 2021 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
Game Analytics Limited |
Company Information |
for the Year Ended 31 December 2021 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Certified Accountants |
and Statutory Auditors |
9 St Clare Street |
London |
EC3N 1LQ |
Game Analytics Limited (Registered number: 09214168) |
Statement of Financial Position |
31 December 2021 |
31.12.21 | 31.12.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Other reserves |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Game Analytics Limited (Registered number: 09214168) |
Notes to the Financial Statements |
for the Year Ended 31 December 2021 |
1. | STATUTORY INFORMATION |
Game Analytics Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparation |
Going Concern |
The company had net current liabilities of £2.79 million at the balance sheet mainly due to the amounts owed to the intermediate parent company, no short-term demand on the repayment of the funds is expected to be instructed. furthermore the intermediate holding company has confirmed in writing to continue support the company for 15 months from the date of signing the financial statements, therefore the director considered that the company has adequate resources to continue its operational existence for the foreseeable future and there are no material uncertainties relating to events or conditions that could cast significant doubt upon the company's ability to continue as a going concern, hence the company continues to adopt the going concern basis in preparing its financial statements. |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for services rendered, net of discounts and rebates allowed by the company and value added taxes. |
The company recognises revenue when all of the following conditions are satisfied: |
- the amount of revenue can be measured reliably; |
- it is probable that the company will receive the consideration due under the contract; |
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
- the costs incurred and the costs to complete the contract can be measured reliably. |
Income from management service provided to the group company is recognised using staff costs mark up method. |
Income from data analysis service is recognised on monthly basis for the services provided. |
Other income |
Other income is recognised when it is probable that the economic benefit will flow to the company, and the amount of revenue can be measured reliably. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Game Analytics Limited (Registered number: 09214168) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives: |
Fixture and fittings over 2-4 years |
Computer equipment over 3 years |
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statements. |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Basic financial assets |
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Basic financial liabilities |
Basic financial liabilities, including trade and other payables, and loans from group undertakings, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. |
Debt instruments are subsequently carried at amortised cost, using the effective interest method. |
Share capital |
Financial instruments issued by the company are classified as equity only to the extent that they do not meet the definition of a financial liability or financial asset. |
The company's ordinary shares are classified as equity instruments. |
Game Analytics Limited (Registered number: 09214168) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Rental under leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Share based payment |
The company’s employees have been granted share options by the ultimate parent company, Mobvista Inc.The Group issues equity-settled share options to certain employees within the company. Equity-settled share-based payment transactions are measured at fair value based on Mobvista Inc. share price at the Stock Exchange of Hong Kong (01860.HK) at the date of grant. The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period, |
Interest income |
Interest income is recognised using the effective interest rate method. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Game Analytics Limited (Registered number: 09214168) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 January 2021 |
and 31 December 2021 |
AMORTISATION |
At 1 January 2021 |
Charge for year |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2021 |
Additions |
Disposals | ( |
) |
At 31 December 2021 |
DEPRECIATION |
At 1 January 2021 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Game Analytics Limited (Registered number: 09214168) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
Amounts owed to group undertakings are unsecured, interest free, without a fixed date of repayment and repayable on demand. |
8. | LOANS |
An analysis of the maturity of loans is given below: |
31.12.21 | 31.12.20 |
£ | £ |
Amounts falling due within one year or on demand: |
Other loans |
The company’s financing facility is loan from an intermediate parent company with principal of USD5 million, the loan is unsecured, interest free and repayment on demand. |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.12.21 | 31.12.20 |
£ | £ |
Within one year |
Between one and five years |
The operating lease for office rental was terminated during the year. |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Game Analytics Limited (Registered number: 09214168) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
12. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is W Duan. |
The immediate parent company is Game Analytics APS, a company registered in Denmark and the ultimate parent company is Guangzhou Mobvista Co., Limited, a company registered in China. |
The smallest and largest undertaking for which the company is a member and for which group financial statements are prepared is Mobvista Inc., the copies of the consolidated financial statements can be obtained from https://www.mobvista.com/en/investor/. |
13. | SHARE-BASED PAYMENT TRANSACTIONS |
On 10 June 2020, the Company's ultimate parent company, Mobvista Inc. granted 2,172,915 shares as a restricted share incentive scheme for the primary purpose of providing incentives to eligible employees, on 10 March 2020 further 60,000 shares granted. As the share options granted are conditional upon the employee’s remaining in the company for the next four years, the total staff service costs will be recognized as an expense in profit or loss over the four years’ vesting period. The fair value of each share option was based on the share price of Mobvista Inc. at Hong Kong stock exchange at the date of grant. |
The Company recognised the total expense of £27,648 (2020: £481,620) in the year in relation to restricted shares granted to the employees of the Company. |
A reconciliation of share option movements over the year ended 31 December 2021 is shown below: |
2021 | 2020 |
Outstanding at 1 January | 2,172,915 | - |
Granted | 60,000 | 2,172,915 |
Forfeited | (66,237 | ) | - |
Exercised | (451,744 | ) | - |
Outstanding at 31 December | 1,714,934 | 2,172,915 |