Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-312023-03-312022-04-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13297643 2022-04-01 2023-03-31 13297643 2021-03-28 2022-03-31 13297643 2023-03-31 13297643 2022-03-31 13297643 c:Director1 2022-04-01 2023-03-31 13297643 d:ComputerEquipment 2022-04-01 2023-03-31 13297643 d:ComputerEquipment 2023-03-31 13297643 d:ComputerEquipment 2022-03-31 13297643 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 13297643 d:CurrentFinancialInstruments 2023-03-31 13297643 d:CurrentFinancialInstruments 2022-03-31 13297643 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13297643 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 13297643 d:ShareCapital 2023-03-31 13297643 d:ShareCapital 2022-03-31 13297643 d:RetainedEarningsAccumulatedLosses 2023-03-31 13297643 d:RetainedEarningsAccumulatedLosses 2022-03-31 13297643 c:OrdinaryShareClass1 2022-04-01 2023-03-31 13297643 c:OrdinaryShareClass1 2023-03-31 13297643 c:OrdinaryShareClass1 2022-03-31 13297643 c:FRS102 2022-04-01 2023-03-31 13297643 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 13297643 c:FullAccounts 2022-04-01 2023-03-31 13297643 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 13297643 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 13297643









GAME BYTES LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2023

 
GAME BYTES LTD
REGISTERED NUMBER: 13297643

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,570
2,355

  
1,570
2,355

Current assets
  

Stocks
 5 
22,500
31,500

Debtors: amounts falling due within one year
 6 
3,577
11,831

Cash at bank and in hand
 7 
23,232
691

  
49,309
44,022

Creditors: amounts falling due within one year
 8 
(196,593)
(84,946)

Net current liabilities
  
 
 
(147,284)
 
 
(40,924)

Total assets less current liabilities
  
(145,714)
(38,569)

  

Net liabilities
  
(145,714)
(38,569)


Capital and reserves
  

Called up share capital 
 9 
1
1

Profit and loss account
  
(145,715)
(38,570)

  
(145,714)
(38,569)

Page 1

 
GAME BYTES LTD
REGISTERED NUMBER: 13297643
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M Beecham
Director

Date: 17 April 2024

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
GAME BYTES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.


General information

Game Bytes Limited is a private company limited by shares and incorporated in England & Wales (registered number 13297643).The registered office is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. The director has obtained assurances from the shareholders and creditors to continue to provide adequate funds to meet its obligations, and not to demand repayment of any funds due to them, until the company is in a financial position to do so. As a result, the director considers it appropriate to prepare the financial statements on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
GAME BYTES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
25%
Straight line method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
GAME BYTES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the period was 1 (2022 - 1).

Page 5

 
GAME BYTES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 April 2022
3,140



At 31 March 2023

3,140



Depreciation


At 1 April 2022
785


Charge for the period on owned assets
785



At 31 March 2023

1,570



Net book value



At 31 March 2023
1,570


5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
22,500
31,500

22,500
31,500



6.


Debtors

2023
2022
£
£


Trade debtors
481
-

Other debtors
3,096
4,638

Prepayments and accrued income
-
7,193

3,577
11,831


Page 6

 
GAME BYTES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
23,232
691

23,232
691



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
3,004
6,913

Other creditors
191,089
75,533

Accruals and deferred income
2,500
2,500

196,593
84,946



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary Share of £1.00
1
1


 
Page 7