Silverfin false 31/05/2023 01/01/2022 31/05/2023 Carola Martin-Smith 04/08/2023 16/12/2014 Keith Martin- Smith 16/12/2014 Stuart Muckley 04/08/2023 Andrew Mulholland 04/08/2023 16/12/2014 Glenn Murphy 04/08/2023 16/12/2014 22 February 2024 The principal activity of the Company during the financial period continued to be that of computer games software development. SC493539 2023-05-31 SC493539 bus:Director1 2023-05-31 SC493539 bus:Director2 2023-05-31 SC493539 bus:Director3 2023-05-31 SC493539 bus:Director4 2023-05-31 SC493539 bus:Director5 2023-05-31 SC493539 2021-12-31 SC493539 core:CurrentFinancialInstruments 2023-05-31 SC493539 core:CurrentFinancialInstruments 2021-12-31 SC493539 core:ShareCapital 2023-05-31 SC493539 core:ShareCapital 2021-12-31 SC493539 core:RetainedEarningsAccumulatedLosses 2023-05-31 SC493539 core:RetainedEarningsAccumulatedLosses 2021-12-31 SC493539 core:OtherPropertyPlantEquipment 2021-12-31 SC493539 core:OtherPropertyPlantEquipment 2023-05-31 SC493539 bus:OrdinaryShareClass1 2023-05-31 SC493539 bus:OrdinaryShareClass2 2023-05-31 SC493539 2022-01-01 2023-05-31 SC493539 bus:FullAccounts 2022-01-01 2023-05-31 SC493539 bus:SmallEntities 2022-01-01 2023-05-31 SC493539 bus:AuditExemptWithAccountantsReport 2022-01-01 2023-05-31 SC493539 bus:PrivateLimitedCompanyLtd 2022-01-01 2023-05-31 SC493539 bus:Director1 2022-01-01 2023-05-31 SC493539 bus:Director2 2022-01-01 2023-05-31 SC493539 bus:Director3 2022-01-01 2023-05-31 SC493539 bus:Director4 2022-01-01 2023-05-31 SC493539 bus:Director5 2022-01-01 2023-05-31 SC493539 core:OtherPropertyPlantEquipment core:TopRangeValue 2022-01-01 2023-05-31 SC493539 2021-01-01 2021-12-31 SC493539 core:OtherPropertyPlantEquipment 2022-01-01 2023-05-31 SC493539 bus:OrdinaryShareClass1 2022-01-01 2023-05-31 SC493539 bus:OrdinaryShareClass1 2021-01-01 2021-12-31 SC493539 bus:OrdinaryShareClass2 2022-01-01 2023-05-31 SC493539 bus:OrdinaryShareClass2 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC493539 (Scotland)

HEXWAR GAMES LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 01 JANUARY 2022 TO 31 MAY 2023
PAGES FOR FILING WITH THE REGISTRAR

HEXWAR GAMES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 JANUARY 2022 TO 31 MAY 2023

Contents

HEXWAR GAMES LIMITED

BALANCE SHEET

AS AT 31 MAY 2023
HEXWAR GAMES LIMITED

BALANCE SHEET (continued)

AS AT 31 MAY 2023
Note 31.05.2023 31.12.2021
£ £
Fixed assets
Tangible assets 3 2,589 648
2,589 648
Current assets
Debtors 4 60,073 21,542
Cash at bank and in hand 63,301 21,652
123,374 43,194
Creditors: amounts falling due within one year 5 ( 123,775) ( 159,527)
Net current liabilities (401) (116,333)
Total assets less current liabilities 2,188 (115,685)
Provision for liabilities 6 74,377 73,694
Net assets/(liabilities) 76,565 ( 41,991)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 76,465 ( 42,091 )
Total shareholders' funds/(deficit) 76,565 ( 41,991)

For the financial period ending 31 May 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Hexwar Games Limited (registered number: SC493539) were approved and authorised for issue by the Director on 22 February 2024. They were signed on its behalf by:

Keith Martin- Smith
Director
HEXWAR GAMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 JANUARY 2022 TO 31 MAY 2023
HEXWAR GAMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 JANUARY 2022 TO 31 MAY 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Hexwar Games Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Commerce House, South Street, Elgin, IV30 1JE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £401. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The reporting period has been extended by 5 months to 31 May 2023 to align the year end with another related entity's year end.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover represents amounts receivable for the sale of phone applications and computer software net of VAT.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each BalanceSheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

Period from
01.01.2022 to
31.05.2023
Year ended
31.12.2021
Number Number
Monthly average number of persons employed by the Company during the period, including directors 4 5

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2022 2,400 2,400
Additions 2,342 2,342
At 31 May 2023 4,742 4,742
Accumulated depreciation
At 01 January 2022 1,752 1,752
Charge for the financial period 401 401
At 31 May 2023 2,153 2,153
Net book value
At 31 May 2023 2,589 2,589
At 31 December 2021 648 648

4. Debtors

31.05.2023 31.12.2021
£ £
Trade debtors 59,821 11,974
VAT recoverable 0 1,997
Other debtors 0 7,571
Prepayments 252 0
60,073 21,542

5. Creditors: amounts falling due within one year

31.05.2023 31.12.2021
£ £
Trade creditors 55,747 54,957
Amounts owed to associates 34,496 80,552
Other taxation and social security 14,764 479
Other creditors 18,768 23,539
123,775 159,527

6. Provision for liabilities

31.05.2023 31.12.2021
£ £
Deferred tax ( 74,377) ( 73,694)

7. Called-up share capital

31.05.2023 31.12.2021
£ £
Allotted, called-up and fully-paid
50 "A" ordinary shares of £ 1.00 each 50 50
50 Ordinary shares of £ 1.00 each 50 50
100 100

8. Related party transactions

Transactions with the entity's directors

31.05.2023 31.12.2021
£ £
Amounts due from (to) key management personnel (4,643) (10,045)

Other related party transactions

31.05.2023 31.12.2021
£ £
Amounts due to related parties 88,946 135,001
Amounts due from other related parties 11,974 11,974

These amounts are interest free and have no fixed terms of repayment.