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Registered Number: 02089042
England and Wales

 

 

 


Abridged Accounts

for the year ended 31 March 2023

for

SEEDTECH STUDIOS LTD

Report to the directors on the preparation of the unaudited statutory accounts of SeedTech Studios Ltd for the year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SeedTech Studios Ltd for the year ended 31 March 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of SeedTech Studios Ltd, as a body, in accordance with the terms of our engagement letter dated 22 September 2023 Our work has been undertaken solely to prepare for your approval the accounts of SeedTech Studios Ltd and state those matters that we have agreed to state to the Board of Directors of SeedTech Studios Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SeedTech Studios Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that SeedTech Studios Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of SeedTech Studios Ltd. You consider that SeedTech Studios Ltd is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of SeedTech Studios Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 March 2023



....................................................
Pi Accountancy
Pi House
40a London Road
Gloucester
Gloucestershire
GL1 3NU
22 September 2023
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 3,028    2,978 
Tangible fixed assets 4 4,653    6,204 
7,681    9,182 
Current assets      
Debtors 4,282    5,495 
Cash at bank and in hand 12,064    26,367 
16,346    31,862 
Creditors: amount falling due within one year (242,549)   (151,722)
Net current liabilities (226,203)   (119,860)
 
Total assets less current liabilities (218,522)   (110,678)
Net liabilities (218,522)   (110,678)
 

Capital and reserves
     
Called up share capital 5 1,000    1,000 
Profit and loss account (219,522)   (111,678)
Shareholder's funds (218,522)   (110,678)
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 22 September 2023 and were signed on its behalf by:


-------------------------------
Jonathan May
Director
2
General Information
SeedTech Studios Ltd is a private company, limited by shares, registered in England and Wales, registration number 02089042, registration address 37 Sandpiper Crescent, Malvern, Worcestershire, WR14 1UY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern basis
The accounts are prepared on a Going Concern basis, as the directors consider the costs incurred in relation to the game being developed recoverable on the Games launch.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Trade Mark
Trade Mark is stated at cost less amortization. Amortization is calculated on a straight line basis over the estimated expected useful economic life of the Trade Mark of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
2.

Average number of employees

Average number of employees during the year was 3 (2022 : 4).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 April 2022 3,723    3,723 
Additions 469    469 
Disposals  
At 31 March 2023 4,192    4,192 
Amortisation
At 01 April 2022 745    745 
Charge for year 419    419 
On disposals  
At 31 March 2023 1,164    1,164 
Net book values
At 31 March 2023 3,028    3,028 
At 31 March 2022 2,978    2,978 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 April 2022 42,125    42,125 
Additions  
Disposals  
At 31 March 2023 42,125    42,125 
Depreciation
At 01 April 2022 35,921    35,921 
Charge for year 1,551    1,551 
On disposals  
At 31 March 2023 37,472    37,472 
Net book values
Closing balance as at 31 March 2023 4,653    4,653 
Opening balance as at 01 April 2022 6,204    6,204 


5.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
1,000 Class A shares of £1.00 each 1,000    1,000 
1,000    1,000 

3