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REGISTERED NUMBER: 07805612 (England and Wales)















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 2,754,867 2,536,320
Tangible assets 5 50,012 37,533
2,804,879 2,573,853

CURRENT ASSETS
Debtors 6 364,589 271,946
Cash at bank 891,431 1,089,656
1,256,020 1,361,602
CREDITORS
Amounts falling due within one year 7 19,658,411 18,946,049
NET CURRENT LIABILITIES (18,402,391 ) (17,584,447 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(15,597,512

)

(15,010,594

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (15,597,513 ) (15,010,595 )
SHAREHOLDERS' FUNDS (15,597,512 ) (15,010,594 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2022 in accordance with Section 476 of the Companies Act 2006.

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


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 9 September 2022 and were signed on its behalf by:





M Horneff - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07805612

Registered office: Treviot House
186-192 High Road
Ilford
Essex
IG1 1LR

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
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Short leasehold - 33% on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on cost

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 32 (2021 - 32 ) .

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 10,452,904
Additions 743,060
At 30 June 2022 11,195,964
AMORTISATION
At 1 January 2022 7,916,584
Charge for period 524,513
At 30 June 2022 8,441,097
NET BOOK VALUE
At 30 June 2022 2,754,867
At 31 December 2021 2,536,320

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2022 6,461 103,888 110,349
Additions - 22,384 22,384
At 30 June 2022 6,461 126,272 132,733
DEPRECIATION
At 1 January 2022 6,461 66,355 72,816
Charge for period - 9,905 9,905
At 30 June 2022 6,461 76,260 82,721
NET BOOK VALUE
At 30 June 2022 - 50,012 50,012
At 31 December 2021 - 37,533 37,533

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 23,612 15,424
Other debtors 340,977 256,522
364,589 271,946

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 123,687 151,609
Amounts owed to group undertakings 19,445,024 18,684,620
Taxation and social security 35,560 67,671
Other creditors 54,140 42,149
19,658,411 18,946,049

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 Scheme31/03/201536,018$10.00





Name of shares
Unapproved
Share option
scheme
Brought forward 36,018
Granted in the yearNil
Exercised in the yearNil
Lapsed in the year(618)
Carried forward35,400
Exercisable at the year end35,400