2022-04-012023-03-312023-03-31false08292669OBSIDIA GROUP (UK) LTD.2023-09-13iso4217:GBPxbrli:pure082926692022-04-01082926692023-03-31082926692022-04-012023-03-31082926692021-04-01082926692022-03-31082926692021-04-012022-03-3108292669bus:SmallEntities2022-04-012023-03-3108292669bus:AuditExempt-NoAccountantsReport2022-04-012023-03-3108292669bus:FullAccounts2022-04-012023-03-3108292669bus:PrivateLimitedCompanyLtd2022-04-012023-03-3108292669core:WithinOneYear2023-03-3108292669core:AfterOneYear2023-03-3108292669core:WithinOneYear2022-03-3108292669core:AfterOneYear2022-03-3108292669core:ShareCapital2023-03-3108292669core:SharePremium2023-03-3108292669core:RevaluationReserve2023-03-3108292669core:OtherReservesSubtotal2023-03-3108292669core:RetainedEarningsAccumulatedLosses2023-03-3108292669core:ShareCapital2022-03-3108292669core:SharePremium2022-03-3108292669core:RevaluationReserve2022-03-3108292669core:OtherReservesSubtotal2022-03-3108292669core:RetainedEarningsAccumulatedLosses2022-03-3108292669core:LandBuildings2023-03-3108292669core:PlantMachinery2023-03-3108292669core:Vehicles2023-03-3108292669core:FurnitureFittings2023-03-3108292669core:OfficeEquipment2023-03-3108292669core:NetGoodwill2023-03-3108292669core:IntangibleAssetsOtherThanGoodwill2023-03-3108292669core:ListedExchangeTraded2023-03-3108292669core:UnlistedNon-exchangeTraded2023-03-3108292669core:LandBuildings2022-03-3108292669core:PlantMachinery2022-03-3108292669core:Vehicles2022-03-3108292669core:FurnitureFittings2022-03-3108292669core:OfficeEquipment2022-03-3108292669core:NetGoodwill2022-03-3108292669core:IntangibleAssetsOtherThanGoodwill2022-03-3108292669core:ListedExchangeTraded2022-03-3108292669core:UnlistedNon-exchangeTraded2022-03-3108292669core:LandBuildings2022-04-012023-03-3108292669core:PlantMachinery2022-04-012023-03-3108292669core:Vehicles2022-04-012023-03-3108292669core:FurnitureFittings2022-04-012023-03-3108292669core:OfficeEquipment2022-04-012023-03-3108292669core:NetGoodwill2022-04-012023-03-3108292669core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3108292669core:ListedExchangeTraded2022-04-012023-03-3108292669core:UnlistedNon-exchangeTraded2022-04-012023-03-3108292669core:MoreThanFiveYears2022-04-012023-03-3108292669core:Non-currentFinancialInstruments2023-03-3108292669core:Non-currentFinancialInstruments2022-03-3108292669dpl:CostSales2022-04-012023-03-3108292669dpl:DistributionCosts2022-04-012023-03-3108292669dpl:AdministrativeExpenses2022-04-012023-03-3108292669core:LandBuildings2022-04-012023-03-3108292669core:PlantMachinery2022-04-012023-03-3108292669core:Vehicles2022-04-012023-03-3108292669core:FurnitureFittings2022-04-012023-03-3108292669core:OfficeEquipment2022-04-012023-03-3108292669core:NetGoodwill2022-04-012023-03-3108292669core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3108292669dpl:GroupUndertakings2022-04-012023-03-3108292669dpl:ParticipatingInterests2022-04-012023-03-3108292669dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3108292669core:ListedExchangeTraded2022-04-012023-03-3108292669dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3108292669core:UnlistedNon-exchangeTraded2022-04-012023-03-3108292669dpl:CostSales2021-04-012022-03-3108292669dpl:DistributionCosts2021-04-012022-03-3108292669dpl:AdministrativeExpenses2021-04-012022-03-3108292669core:LandBuildings2021-04-012022-03-3108292669core:PlantMachinery2021-04-012022-03-3108292669core:Vehicles2021-04-012022-03-3108292669core:FurnitureFittings2021-04-012022-03-3108292669core:OfficeEquipment2021-04-012022-03-3108292669core:NetGoodwill2021-04-012022-03-3108292669core:IntangibleAssetsOtherThanGoodwill2021-04-012022-03-3108292669dpl:GroupUndertakings2021-04-012022-03-3108292669dpl:ParticipatingInterests2021-04-012022-03-3108292669dpl:GroupUndertakingscore:ListedExchangeTraded2021-04-012022-03-3108292669core:ListedExchangeTraded2021-04-012022-03-3108292669dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-04-012022-03-3108292669core:UnlistedNon-exchangeTraded2021-04-012022-03-3108292669core:NetGoodwill2023-03-3108292669core:IntangibleAssetsOtherThanGoodwill2023-03-3108292669core:LandBuildings2023-03-3108292669core:PlantMachinery2023-03-3108292669core:Vehicles2023-03-3108292669core:FurnitureFittings2023-03-3108292669core:OfficeEquipment2023-03-3108292669core:AfterOneYear2023-03-3108292669core:WithinOneYear2023-03-3108292669core:ListedExchangeTraded2023-03-3108292669core:UnlistedNon-exchangeTraded2023-03-3108292669core:ShareCapital2023-03-3108292669core:SharePremium2023-03-3108292669core:RevaluationReserve2023-03-3108292669core:OtherReservesSubtotal2023-03-3108292669core:RetainedEarningsAccumulatedLosses2023-03-3108292669core:NetGoodwill2022-03-3108292669core:IntangibleAssetsOtherThanGoodwill2022-03-3108292669core:LandBuildings2022-03-3108292669core:PlantMachinery2022-03-3108292669core:Vehicles2022-03-3108292669core:FurnitureFittings2022-03-3108292669core:OfficeEquipment2022-03-3108292669core:AfterOneYear2022-03-3108292669core:WithinOneYear2022-03-3108292669core:ListedExchang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OBSIDIA GROUP (UK) LTD.

Registered Number
08292669
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

OBSIDIA GROUP (UK) LTD.
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

Mr A Henry-Whittle
Mr A T Saddington

Registered Address

Unit 1 Corporate House
Aurillac Way
Retford
DN22 7PX

Registered Number

08292669 (England and Wales)
OBSIDIA GROUP (UK) LTD.
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets891,29989,880
Investments948-
91,34789,880
Current assets
Stocks123,564,1453,046,171
Debtors13207,545420,100
Cash at bank and on hand537,623535,721
4,309,3134,001,992
Creditors amounts falling due within one year14(1,437,419)(1,524,498)
Net current assets (liabilities)2,871,8942,477,494
Total assets less current liabilities2,963,2412,567,374
Creditors amounts falling due after one year15(177,513)(269,124)
Provisions for liabilities17(28,432)(17,077)
Net assets2,757,2962,281,173
Capital and reserves
Called up share capital200200
Profit and loss account2,757,0962,280,973
Shareholders' funds2,757,2962,281,173
The financial statements were approved and authorised for issue by the Board of Directors on 13 September 2023, and are signed on its behalf by:
Mr A Henry-Whittle
Director
Registered Company No. 08292669
OBSIDIA GROUP (UK) LTD.
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard. - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
3.Principal activities
The principal activity of the company is computer games sales.
4.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
5.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Plant & Machinery at variable rates
Intangible assets policy
Goodwill Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made. Amortisation Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows: Asset class, method and rate Goodwill Straight line basis over 5 years
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
6.Employee information

20232022
Average number of employees during the year1013
7.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 2224,00024,000
At 31 March 2324,00024,000
Amortisation and impairment
At 01 April 2224,00024,000
At 31 March 2324,00024,000
Net book value
At 31 March 23--
At 31 March 22--
8.Property, plant and equipment

Plant & machinery

Total

££
Cost or valuation
At 01 April 22143,524143,524
Additions23,65623,656
Disposals(116)(116)
At 31 March 23167,064167,064
Depreciation and impairment
At 01 April 2253,64453,644
Charge for year22,23722,237
On disposals(116)(116)
At 31 March 2375,76575,765
Net book value
At 31 March 2391,29991,299
At 31 March 2289,88089,880
9.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
Additions4848
At 31 March 234848
Net book value
At 31 March 234848
At 31 March 22--

Notes

1Investments in group undertakings and participating interests
10.Description of financial commitments other than capital commitments
The total amount of financial commitments not included in the balance sheet is £280,000 (2022 - £320,000). The commitment is in relation to the lease on the premises from which the company trades which expires in 2030.
11.Description of nature of transactions and balances with related parties
At 31st March 2023 the company was owed an amount of £70,000 (2022 £170,000) from Myth Tech Limited. There are no fixed terms for repayment of this loan and no interest is being charged on the amount of balance outstanding. Myth Tech Limited is wholly owned by the directors. At 31st March 2023 the company was owed £24,371 by Obsidia Distribution (EU). Obsidia Distribution is a wholly owned subsidiary of Obsidia Group (UK) Limited.
12.Stocks

2023

2022

££
Raw materials and consumables3,564,1453,046,171
Total3,564,1453,046,171
13.Debtors

2023

2022

££
Trade debtors / trade receivables110,847248,446
Amounts owed by group undertakings94,371170,000
Other debtors1,3991,437
Prepayments and accrued income928217
Total207,545420,100
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
14.Creditors within one year

2023

2022

££
Trade creditors / trade payables150,916208,856
Bank borrowings and overdrafts85,79478,514
Taxation and social security325,052335,479
Finance lease and HP contracts5,8175,817
Other creditors845,866886,576
Accrued liabilities and deferred income23,9749,256
Total1,437,4191,524,498
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Other borrowings by the company, due within one year, amounting to £708,947 (2022 £839,490) are subject to a charge against the assets of the company. This constitutes a working capital loan which is fully repayable by 17th November 2023. Interest is being applied to the loan at a rate of 10.99% per annum.
15.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts161,030246,824
Other creditors16,48322,300
Total177,513269,124
Hire purchase contracts with a carrying amount of £22,300 (2022 - £28,117) are denominated in £ with a nominal interest rate of market rate. The hire purchase liabilities are secured on the related assets. Other borrowings with a carrying amount of £246,824 (2022 - £325,338) are denominated in £ with a nominal interest rate of 8.9%.
16.Finance lease and HP contracts after one year

2023

2022

££
Finance lease and HP contracts16,48322,300
17.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)28,43217,077
Total28,43217,077