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REGISTERED NUMBER: 12160732 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

WAVING BEAR STUDIO LTD

WAVING BEAR STUDIO LTD (REGISTERED NUMBER: 12160732)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WAVING BEAR STUDIO LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: M J Busuttil
D J Busuttil
L M Earp
A J Wharfe
A J Preston





REGISTERED OFFICE: Launchpad Building
Penryn Campus
PENRYN
Cornwall
TR10 9FE





REGISTERED NUMBER: 12160732 (England and Wales)





ACCOUNTANTS: Lang Bennetts
The Old Carriage Works
Moresk Road
TRURO
Cornwall
TR1 1DG

WAVING BEAR STUDIO LTD (REGISTERED NUMBER: 12160732)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 4,775 6,199

CURRENT ASSETS
Debtors 6 22,510 37,563
Cash at bank and in hand 11,070 39,856
33,580 77,419
CREDITORS
Amounts falling due within one year 7 1,724 2,262
NET CURRENT ASSETS 31,856 75,157
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,631

81,356

CAPITAL AND RESERVES
Called up share capital 8 51 50
Share premium 461,584 430,577
Retained earnings (425,004 ) (349,271 )
SHAREHOLDERS' FUNDS 36,631 81,356

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2023 and were signed on its behalf by:





L M Earp - Director


WAVING BEAR STUDIO LTD (REGISTERED NUMBER: 12160732)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

Waving Bear Studio Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The company is in the process of seeking further investment funds and expects to release its game on two different platforms in late 2023 and early 2024. Having considered their expectations for the next twelve months, the directors consider the company to be a going concern and have prepared the accounts accordingly

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sales of video games and other services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and costs can be reliably measured.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

WAVING BEAR STUDIO LTD (REGISTERED NUMBER: 12160732)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 September 2022 10,675
Additions 1,572
At 31 August 2023 12,247
DEPRECIATION
At 1 September 2022 4,476
Charge for year 2,996
At 31 August 2023 7,472
NET BOOK VALUE
At 31 August 2023 4,775
At 31 August 2022 6,199

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,208 1,208
Tax 21,302 34,223
Prepayments - 2,132
22,510 37,563

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 134 810
Accrued expenses 1,590 1,452
1,724 2,262

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,145 A Ordinary £0.01 11 11
2,816 B Ordinary £0.01 28 30
1,186 C Ordinary £0.01 12 9
51 50

WAVING BEAR STUDIO LTD (REGISTERED NUMBER: 12160732)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

8. CALLED UP SHARE CAPITAL - continued

An amount of £31,007.74 (2022: £76,106.55) was received in respect of the above on an advance subscription basis and is included in share capital and share premium as appropriate on the basis the amount is non-refundable and shares will be issued in the next financial year.