2021-11-012022-10-312022-10-31false11077940TIER ZERO GAMES 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TIER ZERO GAMES LIMITED

Registered Number
11077940
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2022

TIER ZERO GAMES LIMITED
Company Information
for the year from 1 November 2021 to 31 October 2022

Director

HICKEY, Oliver

Registered Address

Suite 9 30 Bancroft
Hitchin
SG5 1LE

Registered Number

11077940 (England and Wales)
TIER ZERO GAMES LIMITED
Balance Sheet as at
31 October 2022

Notes

2022

2021

£

£

£

£

Called up share capital not paid-100
Fixed assets
Intangible assets53,763-
Tangible assets61,285-
55,048-
Current assets
Stocks7580,915-
Debtors899,784-
Cash at bank and on hand70,097-
750,796-
Creditors amounts falling due within one year9(261,203)-
Net current assets (liabilities)489,593100
Total assets less current liabilities544,641100
Creditors amounts falling due after one year10(171,998)-
Net assets372,643100
Capital and reserves
Called up share capital100100
Share premium277,456-
Profit and loss account95,087-
Shareholders' funds372,643100
The financial statements were approved and authorised for issue by the Director on 25 October 2023, and are signed on its behalf by:
HICKEY, Oliver
Director
Registered Company No. 11077940
TIER ZERO GAMES LIMITED
Notes to the Financial Statements
for the year ended 31 October 2022

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.
3.Principal activities
Principal activity of the business in the current financial year is that of online retail sale of gaming cards.
4.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
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:

Straight line (years)
Plant and machinery4
Office Equipment3
Intangible assets policy
Intangible fixed assets relates to purchase of Goodwill and is depreciated at 6.5% per year.
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
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.
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.
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.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
5.Employee information

20222021
Average number of employees during the year30
6.Property, plant and equipment

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
Additions2711,5101,781
At 31 October 222711,5101,781
Depreciation and impairment
Charge for year496-496
At 31 October 22496-496
Net book value
At 31 October 22(225)1,5101,285
At 31 October 21---
7.Stocks

2022

2021

££
Finished goods580,915-
Total580,915-
8.Debtors

2022

2021

££
Trade debtors / trade receivables120-
Other debtors99,664-
Total99,784-
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.
9.Creditors within one year

2022

2021

££
Trade creditors / trade payables82,769-
Bank borrowings and overdrafts134,368-
Taxation and social security23,256-
Other creditors20,810-
Total261,203-
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.
10.Creditors after one year

2022

2021

££
Other creditors171,998-
Total171,998-