Game Ready Global UK Limited
Unaudited Financial Statements
For the 9 month period ended 31 December 2022
For Filing with Registrar
Company Registration No. 06423202 (England and Wales)
Game Ready Global UK Limited
Company Information
Directors
G M Pearce
P Lebas
Company number
06423202
Registered office
Betchworth House
57-65 Station Road
Redhill
Surrey
RH1 1DL
Accountants
Moore Kingston Smith LLP
Betchworth House
57-65 Station Road
Redhill
Surrey
RH1 1DL
Business address
Unit J2
Ascot Business Park
Lyndhurst Road
ASCOT
SL5 9FE
Game Ready Global UK Limited
Balance Sheet
As at 31 December 2022
31 December 2022
Page 1
31 December
31 March
2022
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
5
9,116
27,661
Current assets
Stock
428,291
330,048
Debtors
6
742,343
800,012
Cash at bank and in hand
785,653
918,389
1,956,287
2,048,449
Creditors: amounts falling due within one year
7
(484,427)
(452,242)
Net current assets
1,471,860
1,596,207
Net assets
1,480,976
1,623,868
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
1,480,876
1,623,768
Total equity
1,480,976
1,623,868
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial 9 month period ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the 9 month period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Game Ready Global UK Limited
Balance Sheet (Continued)
As at 31 December 2022
31 December 2022
Page 2
The financial statements were approved by the board of directors and authorised for issue on 11 October 2023 and are signed on its behalf by:
G M Pearce
Director
Company Registration No. 06423202
Game Ready Global UK Limited
Notes to the Financial Statements
For the 9 month period ended 31 December 2022
Page 3
1
Accounting policies
Company information
Game Ready Global UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Betchworth House, 57-65 Station Road, Redhill, Surrey, RH1 1DL.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The accounting period has been changed to 31 December 2022 to align with the calendar year. As a result, the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
25% straight line
Fixtures, fittings & equipment
25% straight line
Motor vehicles
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stock
Stock are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition.
Stock held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Game Ready Global UK Limited
Notes to the Financial Statements (Continued)
For the 9 month period ended 31 December 2022
1
Accounting policies
(Continued)
Page 4
1.5
Cash and cash equivalents
Cash and cash equivalents include cash in hand and balances held at call with banks.
1.6
Financial instruments
The company only has financial instruments classified as basic and measured at amortised cost. The company has no financial instruments that are classified as 'other' or financial instruments measured at fair value.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to expenditure on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the 9 month period was: 2 (31 March 2022: 2)
3
Taxation
9 Month
Period ended
Year ended
31 December
31 March
2022
2022
£
£
Current tax
UK corporation tax on profits for the current period
544
95,937
Game Ready Global UK Limited
Notes to the Financial Statements (Continued)
For the 9 month period ended 31 December 2022
Page 5
4
Dividends
9 Month
Period ended
Year ended
31 December
31 March
2022
2022
£
£
Final paid
127,450
5
Tangible fixed assets
Leasehold improvements
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2022
78,203
29,377
107,580
Additions
2,606
2,606
At 31 December 2022
78,203
31,983
110,186
Depreciation and impairment
At 1 April 2022
64,020
15,899
79,919
Depreciation charged in the 9 month period
14,183
6,968
21,151
At 31 December 2022
78,203
22,867
101,070
Carrying amount
At 31 December 2022
9,116
9,116
At 31 March 2022
14,183
13,478
27,661
6
Debtors
31 December
31 March
2022
2022
Amounts falling due within one year:
£
£
Trade debtors
41,615
40,012
Amounts owed by group undertakings
700,000
700,000
Other debtors
728
60,000
742,343
800,012
Game Ready Global UK Limited
Notes to the Financial Statements (Continued)
For the 9 month period ended 31 December 2022
Page 6
7
Creditors: amounts falling due within one year
31 December
31 March
2022
2022
£
£
Trade creditors
460,078
309,653
Corporation tax
544
95,937
Other taxation and social security
17,805
40,657
Other creditors
6,000
5,995
484,427
452,242
8
Called up share capital
31 December
31 March
31 December
31 March
2022
2022
2022
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
9
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
31 December
31 March
2022
2022
£
£
9,000
10
Related party transactions
During the period, the company paid £96,862 (31 March 2022: £nil) of dividends to the directors of the company, in accordance with their shareholdings.
Included within other debtors at the Balance Sheet date is £nil (31 March 2022: £60,000) owed by the directors.
During the period, the company paid arm's length rent of £nil (31 March 2022: £36,000) to Game Ready Global Pension Scheme, an entity in which one of the directors is a trustee.
Included within other debtors at the Balance Sheet date is £700,000 (£31 March 2022: £700,000) due from Winback Group SAS, the immediate parent company.
Game Ready Global UK Limited
Notes to the Financial Statements (Continued)
For the 9 month period ended 31 December 2022
Page 7
11
Parent company
The immediate parent company is Winback Group SAS, a company incorporated in France, and its registered office is 23 Avenue du Lac Marion, 64200 Biarritz, France.