REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 January 2022 to 30 June 2022 |
for |
Kuato Games (UK) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 January 2022 to 30 June 2022 |
for |
Kuato Games (UK) Limited |
Kuato Games (UK) Limited (Registered number: 07805612) |
Contents of the Financial Statements |
for the Period 1 January 2022 to 30 June 2022 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
Kuato Games (UK) Limited (Registered number: 07805612) |
Balance Sheet |
30 June 2022 |
2022 | 2021 |
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 |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Kuato Games (UK) Limited (Registered number: 07805612) |
Balance Sheet - continued |
30 June 2022 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Kuato Games (UK) Limited (Registered number: 07805612) |
Notes to the Financial Statements |
for the Period 1 January 2022 to 30 June 2022 |
1. | STATUTORY INFORMATION |
Kuato Games (UK) Limited is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006 |
Turnover |
Turnover represents the total value of mobile applications sold in the period less value added tax where applicable. |
Trademarks |
Trademarks, being the amount paid in connection with the acquisition of trademarks of the business, are being amortised evenly over their estimated useful life of 10 years. |
Research and development |
Research and Development costs are being amortised evenly over their estimated useful life of 5 years. |
Tangible fixed assets |
Short leasehold | - |
Fixtures and fittings | - |
Computer equipment | - |
Hire purchase and 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. |
Going concern |
The balance sheet at the end of the period recorded net liabilities. The company has been carrying out scientific research into the development of unique commercial products. With the continued support of the ultimate parent company, Kuato Studios Inc., there are sufficient financial resources available to the company to enable it to continue trading into the foreseeable future. Therefore the financial statements have been prepared using the going concern basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
Kuato Games (UK) Limited (Registered number: 07805612) |
Notes to the Financial Statements - continued |
for the Period 1 January 2022 to 30 June 2022 |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 January 2022 |
Additions |
At 30 June 2022 |
AMORTISATION |
At 1 January 2022 |
Charge for period |
At 30 June 2022 |
NET BOOK VALUE |
At 30 June 2022 |
At 31 December 2021 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 January 2022 |
Additions |
At 30 June 2022 |
DEPRECIATION |
At 1 January 2022 |
Charge for period |
At 30 June 2022 |
NET BOOK VALUE |
At 30 June 2022 |
At 31 December 2021 |
Kuato Games (UK) Limited (Registered number: 07805612) |
Notes to the Financial Statements - continued |
for the Period 1 January 2022 to 30 June 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases are £86,170 (31.12.2021: £252,765) |
9. | ULTIMATE CONTROLLING PARTY |
The ultimate parent is Kuato Studios Inc. |
11150 Santa Monica Blvd #600, Los Angeles, CA 90025. |
Its principle place of business is United States of America. |
Kuato Games (UK) Limited (Registered number: 07805612) |
Notes to the Financial Statements - continued |
for the Period 1 January 2022 to 30 June 2022 |
10. | SHARE-BASED PAYMENT TRANSACTIONS |
The company operates an unapproved equity settled share option scheme. The options are granted with a fixed exercise price determined at the grant of the option. The options vest over a period of up to 3 years following the date of the grant. The options are exercisable until the 10th anniversary from the date of grant. Employees are not entitled to dividends until the shares are exercised. Vesting of options is subject to continued employment with the company. The company has the following number of ordinary shares issuable under share options. |
Share option Type | Date of Grant | Number of Ordinary Shares | Price |
Unapproved Share Option Scheme | 31/03/2015 | 36,018 | $10.00 |
Name of shares | Unapproved Share option scheme |
Brought forward | 36,018 |
Granted in the year | Nil |
Exercised in the year | Nil |
Lapsed in the year | (618 | ) |
Carried forward | 35,400 |
Exercisable at the year end | 35,400 |