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REGISTERED NUMBER: 06690851 (England and Wales)











Wayland Games Limited

Group Strategic Report,

Report of the Director and

Consolidated Financial Statements

for the Year Ended 30 September 2022






Wayland Games Limited (Registered number: 06690851)






Contents of the Consolidated Financial Statements
for the Year Ended 30 September 2022




Page

Company information 1

Group strategic report 2

Report of the director 4

Report of the independent auditors 5

Consolidated income statement 9

Consolidated other comprehensive income 10

Consolidated balance sheet 11

Company balance sheet 12

Consolidated statement of changes in equity 13

Company statement of changes in equity 14

Consolidated cash flow statement 15

Notes to the consolidated cash flow statement 16

Notes to the consolidated financial statements 18


Wayland Games Limited

Company Information
for the Year Ended 30 September 2022







Director: R Lawford





Registered office: Units 17-19
Eldon Way
Hockley
Essex
SS5 4AD





Registered number: 06690851 (England and Wales)





Auditors: Stirk Lambert & Co Chartered Accountants
Statutory Auditors
Russell Chambers
61A North St
Keighley
West Yorkshire
BD21 3DS

Wayland Games Limited (Registered number: 06690851)

Group Strategic Report
for the Year Ended 30 September 2022

The director presents his strategic report of the company and the group for the year ended 30 September 2022.

Review of business
The company's principal activity continued to be that of the online retail sale of games.

The company continued its strong increase in both turnover and profit.

Principal risks and uncertainties
The process of risk acceptance and risk management is addressed by an ongoing review by the director and senior management.

Business risks and uncertainties affecting the company include the uncertain outcome of future trading arrangements with Europe.

Section 172(1) statement
The Director has and continues to act in good faith to ensure the business' success for the benefit of a wide range of stakeholders.

These stakeholders include:

-Employees
The company is committed to equal opportunities for all and a workplace free from harassment and discrimination. The company will select, recruit, employ and promote staff based on the abilities of the individual regardless of sex, age, race, disability, ethnicity or region.

-Suppliers
The Company relies on its suppliers to provide quality services to maintain the highest standards of safety and reliability in meeting the needs of our customers. The Company is committed to having professional and ethical relationships with its suppliers and the Company clearly articulates its stances on anti-corruption, anti-bribery, and modern slavery with all its suppliers ensuring the highest standards of ethics are met.

-Customers
The Company works to maintain a professional and ethical relationship with all its customers and is again clear on its stance on anti-corruption, anti-bribery, and modern slavery.

-The local community and environment
The Company has a corporate social responsibility to operate safely and effectively within the local community and reduce its environmental impact.

The Director of Wayland Games Limited understands the need to act fairly and to consider the impact of any decision-making, long or short term, on these groups.

Financial risk management
Credit Risk - This is managed by the constant monitoring of our internal systems to ensure debts are collected in a timely manner.

Liquidity Risk - The company maintains strong cash balances to ensure liabilities are met promptly.

Future developments
The director considers that the company is well placed to take advantage of any increased levels of activity.


Wayland Games Limited (Registered number: 06690851)

Group Strategic Report
for the Year Ended 30 September 2022

Key performance indicators
The group's key performance indicators during the year were as follows:

2022 2021
£ £
Gross Profit 20,839,080 13,691,276
Profit Before Tax 8,020,764 5,888,944
Shareholder's Funds 13,961,419 9,841,200

Gross Profit % 14.3% 12.8%

Comparative figures are for the 12 month period to 30 September 2021.

On behalf of the board:





R Lawford - Director


5 March 2024

Wayland Games Limited (Registered number: 06690851)

Report of the Director
for the Year Ended 30 September 2022

The director presents his report with the financial statements of the company and the group for the year ended 30 September 2022.

Dividends
The total distribution of dividends for the year ended 30 September 2022 will be £1,980,000.

Director
R Lawford held office during the whole of the period from 1 October 2021 to the date of this report.

Statement of director's responsibilities
The director is responsible for preparing the Group strategic report, the Report of the director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

Auditors
The auditors are deemed to be reappointed under the Companies Act 2006, s. 487(2).

On behalf of the board:





R Lawford - Director


5 March 2024

Report of the Independent Auditors to the Members of
Wayland Games Limited (Registered number: 06690851)

Opinion
We have audited the financial statements of Wayland Games Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2022 which comprise the Consolidated income statement, Consolidated other comprehensive income, Consolidated balance sheet, Company balance sheet, Consolidated statement of changes in equity, Company statement of changes in equity, Consolidated cash flow statement and Notes to the consolidated cash flow statement, Notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 September 2022 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Group strategic report and the Report of the director, but does not include the financial statements and our Report of the auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Report of the Independent Auditors to the Members of
Wayland Games Limited (Registered number: 06690851)


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group strategic report and the Report of the director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group strategic report and the Report of the director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Report of the director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of director's responsibilities set out on page four, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Wayland Games Limited (Registered number: 06690851)


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities including fraud and non-compliance with laws and regulations were as follows:
-the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
-we identified the laws and regulations applicable to the company through discussions with the directors and other management and review of appropriate industry knowledge;
-we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and
-identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the Company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by;
-making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
-considering the internal controls in place to mitigate risks of fraud and non- compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we;
-performed analytical procedures as a risk assessment tool to identify any unusual or unexpected relationships;
-tested journal entries to identify unusual transactions; and undertook substantive testing on a sample basis;
-reviewed the application of accounting policies with focus on those with heightened estimation uncertainty.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to;
-agreeing financial statement disclosures to underlying supporting documentation;
-enquiring of management as to actual and potential litigation and claims; and
-reviewing correspondence with HMRC and relevant regulators.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

Report of the Independent Auditors to the Members of
Wayland Games Limited (Registered number: 06690851)


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Richard Stratton (Senior Statutory Auditor)
for and on behalf of Stirk Lambert & Co Chartered Accountants
Statutory Auditors
Russell Chambers
61A North St
Keighley
West Yorkshire
BD21 3DS

5 March 2024

Wayland Games Limited (Registered number: 06690851)

Consolidated
Income Statement
for the Year Ended 30 September 2022

30.9.22 30.9.21
Notes £    £   

Turnover 3 145,959,899 106,955,950

Cost of sales (125,120,819 ) (93,264,674 )
Gross profit 20,839,080 13,691,276

Administrative expenses (8,847,345 ) (7,757,660 )
11,991,735 5,933,616

Other operating income 148,287 57,405
Operating profit 5 12,140,022 5,991,021

Loss on disposal of operation 6 (4,136,057 ) (101,523 )
8,003,965 5,889,498

Interest receivable and similar income 18,505 135
8,022,470 5,889,633

Interest payable and similar expenses 7 (1,706 ) (689 )
Profit before taxation 8,020,764 5,888,944

Tax on profit 8 (1,920,545 ) (1,172,010 )
Profit for the financial year 6,100,219 4,716,934
Profit attributable to:
Owners of the parent 6,100,219 4,716,934

Wayland Games Limited (Registered number: 06690851)

Consolidated
Other Comprehensive Income
for the Year Ended 30 September 2022

30.9.22 30.9.21
Notes £    £   

Profit for the year 6,100,219 4,716,934


Other comprehensive income - -
Total comprehensive income for the
year

6,100,219

4,716,934

Total comprehensive income attributable to:
Owners of the parent 6,100,219 4,716,934

Wayland Games Limited (Registered number: 06690851)

Consolidated Balance Sheet
30 September 2022

30.9.22 30.9.21
Notes £    £   
Fixed assets
Intangible assets 14 390,381 447,080
Tangible assets 15 172,006 1,169,926
Investments 16 - -
562,387 1,617,006

Current assets
Stocks 17 2,606,022 4,097,575
Debtors 18 11,797,612 6,969,552
Cash at bank and in hand 4,248,719 2,048,242
18,652,353 13,115,369
Creditors
Amounts falling due within one year 19 (5,195,218 ) (4,754,559 )
Net current assets 13,457,135 8,360,810
Total assets less current liabilities 14,019,522 9,977,816

Creditors
Amounts falling due after more than one
year

20

(58,103

)

(80,263

)

Provisions for liabilities 24 - (56,353 )
Net assets 13,961,419 9,841,200

Capital and reserves
Called up share capital 25 200 200
Retained earnings 26 13,961,219 9,841,000
Shareholders' funds 13,961,419 9,841,200

The financial statements were approved by the director and authorised for issue on 5 March 2024 and were signed by:





R Lawford - Director


Wayland Games Limited (Registered number: 06690851)

Company Balance Sheet
30 September 2022

30.9.22 30.9.21
Notes £    £   
Fixed assets
Intangible assets 14 160,700 191,879
Tangible assets 15 167,108 1,159,679
Investments 16 371,522 371,522
699,330 1,723,080

Current assets
Stocks 17 2,540,554 4,043,498
Debtors 18 11,843,026 6,990,537
Cash at bank and in hand 4,205,607 1,966,567
18,589,187 13,000,602
Creditors
Amounts falling due within one year 19 (5,078,041 ) (4,666,864 )
Net current assets 13,511,146 8,333,738
Total assets less current liabilities 14,210,476 10,056,818

Provisions for liabilities 24 - (56,353 )
Net assets 14,210,476 10,000,465

Capital and reserves
Called up share capital 25 200 200
Retained earnings 26 14,210,276 10,000,265
Shareholders' funds 14,210,476 10,000,465

Company's profit for the financial year 6,190,011 4,876,200

The financial statements were approved by the director and authorised for issue on 5 March 2024 and were signed by:





R Lawford - Director


Wayland Games Limited (Registered number: 06690851)

Consolidated Statement of Changes in Equity
for the Year Ended 30 September 2022

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 October 2020 200 7,504,066 7,504,266

Changes in equity
Dividends - (2,380,000 ) (2,380,000 )
Total comprehensive income - 4,716,934 4,716,934
Balance at 30 September 2021 200 9,841,000 9,841,200

Changes in equity
Dividends - (1,980,000 ) (1,980,000 )
Total comprehensive income - 6,100,219 6,100,219
Balance at 30 September 2022 200 13,961,219 13,961,419

Wayland Games Limited (Registered number: 06690851)

Company Statement of Changes in Equity
for the Year Ended 30 September 2022

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 October 2020 200 7,504,065 7,504,265

Changes in equity
Dividends - (2,380,000 ) (2,380,000 )
Total comprehensive income - 4,876,200 4,876,200
Balance at 30 September 2021 200 10,000,265 10,000,465

Changes in equity
Dividends - (1,980,000 ) (1,980,000 )
Total comprehensive income - 6,190,011 6,190,011
Balance at 30 September 2022 200 14,210,276 14,210,476

Wayland Games Limited (Registered number: 06690851)

Consolidated Cash Flow Statement
for the Year Ended 30 September 2022

30.9.22 30.9.21
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 6,335,947 2,118,864
Interest paid (1,052 ) (415 )
Interest element of hire purchase
payments paid

(654

)

(274

)
Tax paid (1,130,017 ) (863,907 )
Taxation refund (1 ) -
Net cash from operating activities 5,204,223 1,254,268

Cash flows from investing activities
Purchase of intangible fixed assets - (11,603 )
Purchase of tangible fixed assets (19,220 ) (1,122,520 )
Sale of tangible fixed assets 843,500 -
Acquisition of subsidiaries - (371,522 )
Interest received 18,505 135
Net cash from investing activities 842,785 (1,505,510 )

Cash flows from financing activities
Loan repayments in year (19,999 ) -
Capital repayments in year (2,808 ) 9,552
Amount introduced by directors - 5,904,671
Amount withdrawn by directors (1,867,619 ) (4,946,389 )
Other movements 25,876 -
Equity dividends paid (1,980,000 ) (2,380,000 )
Net cash from financing activities (3,844,550 ) (1,412,166 )

Increase/(decrease) in cash and cash equivalents 2,202,458 (1,663,408 )
Cash and cash equivalents at
beginning of year

2

2,046,261

3,709,669

Cash and cash equivalents at end of
year

2

4,248,719

2,046,261

Wayland Games Limited (Registered number: 06690851)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 30 September 2022

1. Reconciliation of profit before taxation to cash generated from operations
30.9.22 30.9.21
£    £   
Profit before taxation 8,020,764 5,888,944
Depreciation charges 230,339 239,452
Loss on disposal of fixed assets - 101,585
Miscellaneous - 444
Government grants (93,287 ) (2,405 )
Finance costs 1,706 689
Finance income (18,505 ) (135 )
8,141,017 6,228,574
Decrease/(increase) in stocks 1,491,553 (862,813 )
Increase in trade and other debtors (3,536,212 ) (4,493,610 )
Increase in trade and other creditors 239,589 1,246,713
Cash generated from operations 6,335,947 2,118,864

2. Cash and cash equivalents

The amounts disclosed on the Cash flow statement in respect of cash and cash equivalents are in respect of these Balance sheet amounts:

Year ended 30 September 2022
30.9.22 1.10.21
£    £   
Cash and cash equivalents 4,248,719 2,048,242
Bank overdrafts - (1,981 )
4,248,719 2,046,261
Year ended 30 September 2021
30.9.21 1.10.20
£    £   
Cash and cash equivalents 2,048,242 3,709,669
Bank overdrafts (1,981 ) -
2,046,261 3,709,669


Wayland Games Limited (Registered number: 06690851)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 30 September 2022

3. Analysis of changes in net funds

At 1.10.21 Cash flow At 30.9.22
£    £    £   
Net cash
Cash at bank and in hand 2,048,242 2,200,477 4,248,719
Bank overdrafts (1,981 ) 1,981 -
2,046,261 2,202,458 4,248,719
Debt
Finance leases (9,552 ) 2,808 (6,744 )
Debts falling due within 1 year (20,648 ) 648 (20,000 )
Debts falling due after 1 year (73,519 ) 19,352 (54,167 )
(103,719 ) 22,808 (80,911 )
Total 1,942,542 2,225,266 4,167,808

Wayland Games Limited (Registered number: 06690851)

Notes to the Consolidated Financial Statements
for the Year Ended 30 September 2022

1. Statutory information

Wayland Games Limited 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 General Information page.

2. Accounting policies

Basis of preparing the financial statements
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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in Sterling (£).

Basis of consolidation
The consolidated financial statements include the financial statements of Wayland Games Limited and all its subsidiary undertakings. All intra-group transactions, balances, income and expenses are eliminated on consolidation.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgments are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting judgements and key sources of estimation uncertainty
The directors consider the key accounting estimates to be provisions for obsolete stock, provisions for trade debtors and the estimation of the useful lives of fixed assets.

In determining the recoverable value of stock the directors consider the age and current market demand on an individual product basis.

The directors estimate the provision for trade debtors based on an assessment of specific accounts and use their knowledge of the customers and the market to ensure the correct judgements are applied.

Management have used their expectation of the estimated useful lives of each category of assets
in order to ensure the appropriate provision is made for depreciation.

Wayland Games Limited (Registered number: 06690851)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2022

2. Accounting policies - continued

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for the sale of
goods in the ordinary nature of the business. Turnover is shown net of value added tax of goods sold
to external customers.

Turnover is recognised at the point of sale at which the goods are despatched.

Goodwill
Goodwill represents the excess of cost of acquisitions over the Group's interest in the fair value of the identifiable assets and liabilities (including intangible assets) of the acquired entitity at the date of acquisition. Goodwill is recognised as an asset and assessed for any indications of impairment at least annually. Any impairment is recognised immediately in the statement of comprehensive income.

Goodwill is amortised evenly over its useful economic life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Short leasehold - 10% on cost
Improvements to property - over the term of the lease
Plant and machinery - 33% on cost
Fixtures and fittings - 25% on cost

Government grants
Government grants are accounted for on a receivable basis.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Wayland Games Limited (Registered number: 06690851)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2022

2. Accounting policies - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Wayland Games Limited (Registered number: 06690851)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2022

3. Turnover

An analysis of the group's turnover by geographical market is as follows:

2022 2021
£    £   

United Kingdom 13,857,713 10,072,021
Europe 4,636,960 3,016,687
United States of America 65,663,339 49,312,060
Rest of the world 61,801,887 44,555,182
145,959,899 106,955,950

Turnover comprises of sales of goods only.

4. Employees and directors
30.9.22 30.9.21
£    £   
Wages and salaries 4,014,094 2,101,503
Social security costs 519,579 213,405
Other pension costs 84,687 93,279
4,618,360 2,408,187

The average number of employees during the year was as follows:
30.9.22 30.9.21

Management 4 3
Manufacturing 5 1
Projects 5 6
Studio 12 14
Operations & warehouse 53 39
79 63

The average number of employees by undertakings that were proportionately consolidated during the year was 79 (2021 - 63 ) .

30.9.22 30.9.21
£    £   
Director's remuneration 152,000 135,500
Director's pension contributions to money purchase schemes - 23,653

Wayland Games Limited (Registered number: 06690851)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2022

5. Operating profit

The operating profit is stated after charging/(crediting):

30.9.22 30.9.21
£    £   
Hire of plant and machinery 100,784 5,574
Other operating leases 69,336 38,459
Depreciation - owned assets 173,640 239,544
Loss on disposal of fixed assets - 62
Goodwill amortisation 38,513 12,992
Patents and licences amortisation 18,186 18,187
Foreign exchange differences 10,351 (34,062 )
Auditors remuneration 38,000 30,000

6. Exceptional items
30.9.22 30.9.21
£    £   
Loss on disposal of operation (4,136,057 ) (101,523 )

Included as an exception items this year are costs related to the abandonment of a warehouse build project.
In 2021, the exceptional item was a provision for the non recoverability of a loan to a company under common control.

7. Interest payable and similar expenses
30.9.22 30.9.21
£    £   
Bank interest 1,052 415
Hire purchase 654 274
1,706 689

8. Taxation

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.9.22 30.9.21
£    £   
Current tax:
UK corporation tax 2,031,264 1,163,362

Deferred tax (110,719 ) 8,648
Tax on profit 1,920,545 1,172,010

UK corporation tax has been charged at 19 % (2021 - 19 %).

Wayland Games Limited (Registered number: 06690851)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2022

8. Taxation - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

30.9.22 30.9.21
£    £   
Profit before tax 8,020,764 5,888,944
Profit multiplied by the standard rate of corporation tax in the UK
of 19 % (2021 - 19 %)

1,523,945

1,118,899

Effects of:
Expenses not deductible for tax purposes 856,428 19,530
Income not taxable for tax purposes 250 -
Depreciation in excess of capital allowances 38,794 237
Deferred taxation (110,719 ) 8,648
Interest on overdue taxation 5,133 496
Tax losses carried forward 13,043 24,200
Research & development relief (406,329 ) -
Total tax charge 1,920,545 1,172,010

9. Individual income statement

As permitted by Section 408 of the Companies Act 2006, the Statement of comprehensive income of the parent company is not presented as part of these financial statements.


10. Dividends
30.9.22 30.9.21
£    £   
Ordinary shares of £1 each
Interim 1,980,000 2,380,000

11. Retirement benefit schemes

2022 2021
£    £   
Charge to profit and loss in respect of defined contribution schemes 84,687 69,626



The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Wayland Games Limited (Registered number: 06690851)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2022

12. Parent guarantee

Beasts of War Limited, and Rolltogether Limited are entitled to an exemption from audit, under section 479A of the Companies Act 2006 relating to subsidiary companies, by way of a guarantee from their parent company Wayland Games Limited.

13. Auditors remuneration & liability limitation

30.09.22 30.09.21
£ £
Fees payable for the audit of the financial statements 38,000 38,450

The company agrees to limit the Auditor's liability to the Company on the principle terms and conditions set out below.

A. The agreement limits the amount of any liability owed to the company by the auditor in respect of any negligence, default, or breach of duty, occurring in the course of the audit of the accounts for the financial year ending 30 september 2022 pursuant to the Letter of Engagement entered into on 18 January 2022 of which the auditor may be guilty in relation to the company (''the Auditor's Liability'').

B. The Agreement shall not limit the amount of any liability of the Auditor for its fraud or dishonesty or any other liability that cannot be excluded or restricted by applicable laws or regulations.

C. The maximum aggregate amount of the Auditor's Liability to the Company shall not exceed the sum of eight times the fees payable (excluding expenses and Value Added Tax) under the Engagement Letter referable to the financial year in question.

The limit shall apply to the company and collectively to any and all other companies to which the Engagement Letter applies so that the Auditor's aggregate liability to all such companies including the company shall not exceed the amount stated above. The apportionment shall be made by agreement between the company and all other such companies without reference to the Auditor.

D. In accordance with section 537 of the Companies Act 2006, if the effect of Clause C of this Liability, Limitation Agreement would be to limit the Auditor's Liability to less than such amount as is fair and reasonable, as determined in accordance with that section this liability Limitation Agreement shall have effect as if it limited the Auditor's Liability to such amount as is fair and reasonable, as so determined.

E. In Clauses A,B,C and D of the Agreement, the "Auditor "means Stirk Lambert & Co and includes any of its partners, employees and consultants and any other person for whom Stirk Lambert & Co is vicariously liable.

Wayland Games Limited (Registered number: 06690851)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2022

14. Intangible fixed assets

Group
Patents
and
Goodwill licences Totals
£    £    £   
Cost
At 1 October 2021
and 30 September 2022 385,125 181,864 566,989
Amortisation
At 1 October 2021 13,592 106,317 119,909
Amortisation for year 38,513 18,186 56,699
At 30 September 2022 52,105 124,503 176,608
Net book value
At 30 September 2022 333,020 57,361 390,381
At 30 September 2021 371,533 75,547 447,080

Company
Patents
and
Goodwill licences Totals
£    £    £   
Cost
At 1 October 2021
and 30 September 2022 129,924 181,864 311,788
Amortisation
At 1 October 2021 13,592 106,317 119,909
Amortisation for year 12,993 18,186 31,179
At 30 September 2022 26,585 124,503 151,088
Net book value
At 30 September 2022 103,339 57,361 160,700
At 30 September 2021 116,332 75,547 191,879

Wayland Games Limited (Registered number: 06690851)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2022

15. Tangible fixed assets

Group
Improvements
Freehold Short to Plant and
property leasehold property machinery
£    £    £    £   
Cost
At 1 October 2021 843,500 17,385 174,089 331,014
Additions - - 3,988 -
Disposals (843,500 ) - - -
At 30 September 2022 - 17,385 178,077 331,014
Depreciation
At 1 October 2021 - 17,385 152,949 247,000
Charge for year - - 10,051 55,363
At 30 September 2022 - 17,385 163,000 302,363
Net book value
At 30 September 2022 - - 15,077 28,651
At 30 September 2021 843,500 - 21,140 84,014

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Cost
At 1 October 2021 644,144 14,200 32,667 2,056,999
Additions 15,232 - - 19,220
Disposals - - - (843,500 )
At 30 September 2022 659,376 14,200 32,667 1,232,719
Depreciation
At 1 October 2021 433,119 8,273 28,347 887,073
Charge for year 102,877 2,840 2,509 173,640
At 30 September 2022 535,996 11,113 30,856 1,060,713
Net book value
At 30 September 2022 123,380 3,087 1,811 172,006
At 30 September 2021 211,025 5,927 4,320 1,169,926

All fixed assets are initially recorded at cost.

Wayland Games Limited (Registered number: 06690851)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2022

15. Tangible fixed assets - continued

Company
Improvements
Freehold Short to
property leasehold property
£    £    £   
Cost
At 1 October 2021 843,500 17,385 174,089
Additions - - 3,988
Disposals (843,500 ) - -
At 30 September 2022 - 17,385 178,077
Depreciation
At 1 October 2021 - 17,385 152,949
Charge for year - - 10,051
At 30 September 2022 - 17,385 163,000
Net book value
At 30 September 2022 - - 15,077
At 30 September 2021 843,500 - 21,140

Fixtures
Plant and and
machinery fittings Totals
£    £    £   
Cost
At 1 October 2021 331,014 644,144 2,010,132
Additions - 15,232 19,220
Disposals - - (843,500 )
At 30 September 2022 331,014 659,376 1,185,852
Depreciation
At 1 October 2021 247,000 433,119 850,453
Charge for year 55,363 102,877 168,291
At 30 September 2022 302,363 535,996 1,018,744
Net book value
At 30 September 2022 28,651 123,380 167,108
At 30 September 2021 84,014 211,025 1,159,679

All fixed assets are initially recorded at cost.

Wayland Games Limited (Registered number: 06690851)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2022

16. Fixed asset investments

Company
Shares in
group
undertakings
£   
Cost
At 1 October 2021
and 30 September 2022 371,522
Net book value
At 30 September 2022 371,522
At 30 September 2021 371,522


Details of the company's subsidiaries at 30 September 2022 are as follows:



Name of undertaking

Registered office

Nature of business
Class of
shares held

%Held
Direct Indirect
Beasts of War Limited Northern Ireland Business and
domestic software
development
Ordinary 100
Rolltogether Limited Northern Ireland Retail sale of games
and toys in
specialised stores
Ordinary 100


17. Stocks

Group Company
30.9.22 30.9.21 30.9.22 30.9.21
£    £    £    £   
Stocks 2,606,022 4,097,575 2,540,554 4,043,498

Wayland Games Limited (Registered number: 06690851)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2022

18. Debtors: amounts falling due within one year

Group Company
30.9.22 30.9.21 30.9.22 30.9.21
£    £    £    £   
Trade debtors 58,320 85,959 36,002 27,752
Amounts owed by group undertakings - 25,876 45,846 115,068
Other debtors 2,977 1,856,560 6,267 1,846,560
Directors' current accounts 874,819 - 874,819 -
Tax 295,252 - 295,252 -
VAT 1,960,980 - 1,979,795 -
Deferred tax asset 54,366 - 54,366 -
Prepayments 8,550,898 5,001,157 8,550,679 5,001,157
11,797,612 6,969,552 11,843,026 6,990,537

Deferred tax asset
Group Company
30.9.22 30.9.21 30.9.22 30.9.21
£    £    £    £   
Deferred tax 54,366 - 54,366 -

19. Creditors: amounts falling due within one year

Group Company
30.9.22 30.9.21 30.9.22 30.9.21
£    £    £    £   
Bank loans and overdrafts (see note 21) 20,000 22,629 - -
Hire purchase contracts (see note 22) 2,808 2,808 - -
Trade creditors 308,885 146,566 262,093 105,887
Corporation tax 2,077,944 881,445 2,080,603 884,300
Social security and other taxes 235,346 63,491 215,874 44,541
Other creditors 624,724 1,380,687 595,933 1,377,202
Directors' current accounts - 992,800 - 992,800
Accrued expenses 1,925,511 1,264,133 1,923,538 1,262,134
5,195,218 4,754,559 5,078,041 4,666,864

20. Creditors: amounts falling due after more than one year

Group
30.9.22 30.9.21
£    £   
Bank loans (see note 21) 54,167 73,519
Hire purchase contracts (see note 22) 3,936 6,744
58,103 80,263

Wayland Games Limited (Registered number: 06690851)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2022

21. Loans

An analysis of the maturity of loans is given below:

Group
30.9.22 30.9.21
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 1,981
Bank loans 20,000 20,648
20,000 22,629
Amounts falling due between one and two years:
Bank loans - 1-5 years 54,167 73,519

22. Leasing agreements

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
30.9.22 30.9.21
£    £   
Net obligations repayable:
Within one year 2,808 2,808
Between one and five years 3,936 6,744
6,744 9,552

Group
Non-cancellable operating leases
30.9.22 30.9.21
£    £   
Within one year 335,794 35,288
Between one and five years 192,831 -
528,625 35,288

Wayland Games Limited (Registered number: 06690851)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2022

22. Leasing agreements - continued

Company
Non-cancellable operating leases
30.9.22 30.9.21
£    £   
Within one year 335,794 35,288
Between one and five years 192,831 -
528,625 35,288

23. Secured debts

The following secured debts are included within creditors:

Group
30.9.22 30.9.21
£    £   
Hire purchase contracts 6,744 9,552

Hire purchase liabilities are secured on the assets to which they relate.

24. Provisions for liabilities

Group Company
30.9.22 30.9.21 30.9.22 30.9.21
£    £    £    £   
Deferred tax - 56,353 - 56,353

Group
Deferred
tax
£   
Balance at 1 October 2021 56,353
Credit to Income statement during year (110,719 )
Balance at 30 September 2022 (54,366 )

Wayland Games Limited (Registered number: 06690851)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2022

24. Provisions for liabilities - continued

Company
Deferred
tax
£   
Balance at 1 October 2021 56,353
Credit to Statement of comprehensive income during year (110,719 )
Balance at 30 September 2022 (54,366 )

25. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.22 30.9.21
value: £    £   
200 Ordinary £1 200 200

26. Reserves

Group
Retained
earnings
£   

At 1 October 2021 9,841,000
Profit for the year 6,100,219
Dividends (1,980,000 )
At 30 September 2022 13,961,219

Company
Retained
earnings
£   

At 1 October 2021 10,000,265
Profit for the year 6,190,011
Dividends (1,980,000 )
At 30 September 2022 14,210,276


Wayland Games Limited (Registered number: 06690851)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2022

27. Related party disclosures

Wayland Logistics Limited is associated by way of the common control of Richard Lawford.
Included in Other Creditors is £12,887 (2021: £12,887) due to Wayland Logistics Limited.
Included in Trade Creditors is £38,941 (2021: £63,122) due from Wayland Logistics Limited. In 2021 £63,122 was due to Wayland Logistics and was included in Trade Creditors.

28. Ultimate controlling party

The controlling party is R Lawford.

29. Securities

A limited guarantee was given by Mr Richard Lawford for £25,000, relating to the companies bank facilities.

A full guarantee was given by Mr Richard Lawford for £4,553 relating to the companies rental facilities.