Acorah Software Products - Accounts Production 14.5.601 false true true 31 December 2021 1 January 2021 false 1 January 2022 31 December 2022 31 December 2022 11614551 Mr Timur Galiamov true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11614551 2021-12-31 11614551 2022-12-31 11614551 2022-01-01 2022-12-31 11614551 frs-core:CurrentFinancialInstruments 2022-12-31 11614551 frs-core:Non-currentFinancialInstruments 2022-12-31 11614551 frs-core:ComputerEquipment 2022-12-31 11614551 frs-core:ComputerEquipment 2022-01-01 2022-12-31 11614551 frs-core:ComputerEquipment 2021-12-31 11614551 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 11614551 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-01-01 2022-12-31 11614551 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2021-12-31 11614551 frs-core:OtherResidualIntangibleAssets 2022-12-31 11614551 frs-core:OtherResidualIntangibleAssets 2022-01-01 2022-12-31 11614551 frs-core:OtherResidualIntangibleAssets 2021-12-31 11614551 frs-core:OtherReservesSubtotal 2022-12-31 11614551 frs-core:ShareCapital 2022-12-31 11614551 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 11614551 frs-bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 11614551 frs-bus:FilletedAccounts 2022-01-01 2022-12-31 11614551 frs-bus:SmallEntities 2022-01-01 2022-12-31 11614551 frs-bus:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 11614551 frs-bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 11614551 1 2022-01-01 2022-12-31 11614551 frs-core:CurrencyRisk 2022-01-01 2022-12-31 11614551 frs-core:InterestRateRisk 2022-01-01 2022-12-31 11614551 frs-core:UnlistedNon-exchangeTraded 2022-12-31 11614551 frs-core:UnlistedNon-exchangeTraded 2021-12-31 11614551 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2021-12-31 11614551 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2022-12-31 11614551 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2021-12-31 11614551 frs-core:ImpairmentLossProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-12-31 11614551 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-12-31 11614551 frs-bus:Director1 2022-01-01 2022-12-31 11614551 frs-bus:Director1 2021-12-31 11614551 frs-bus:Director1 2022-12-31 11614551 frs-core:CurrentFinancialInstruments 1 2022-12-31 11614551 frs-core:CurrentFinancialInstruments 2 2022-12-31 11614551 frs-countries:EnglandWales 2022-01-01 2022-12-31 11614551 2020-12-31 11614551 2021-12-31 11614551 2021-01-01 2021-12-31 11614551 frs-core:CurrentFinancialInstruments 2021-12-31 11614551 frs-core:Non-currentFinancialInstruments 2021-12-31 11614551 frs-core:OtherReservesSubtotal 2021-12-31 11614551 frs-core:ShareCapital 2021-12-31 11614551 frs-core:RetainedEarningsAccumulatedLosses 2021-12-31 11614551 frs-core:CurrentFinancialInstruments 1 2021-12-31 11614551 frs-core:CurrentFinancialInstruments 2 2021-12-31
Registered number: 11614551
Super Dot Com Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2022
Mouktaris & Co Ltd
Chartered Accountants & Registered Auditors
156a Burnt Oak Broadway
Edgware
Middlesex
HA8 0AX
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—17
Page 1
Statement of Financial Position
Registered number: 11614551
2022 2021
as restated
Notes
FIXED ASSETS
Intangible Assets 4 2,523,273 2,454,847
Tangible Assets 5 3,752 4,658
Investments in subsidiaries 6 - 888
2,527,025 2,460,393
CURRENT ASSETS
Debtors 7 228,396 266,426
Investments 8 1 -
Cash at bank and in hand 321,045 11,175
549,442 277,601
Creditors: Amounts Falling Due Within One Year 9 (175,876 ) (260,462 )
NET CURRENT ASSETS (LIABILITIES) 373,566 17,139
TOTAL ASSETS LESS CURRENT LIABILITIES 2,900,591 2,477,532
Creditors: Amounts Falling Due After More Than One Year 10 (4,351,660 ) (3,068,119 )
NET LIABILITIES (1,451,069 ) (590,587 )
CAPITAL AND RESERVES
Called up share capital 11 114 114
Other reserves 3,970,434 3,970,434
Income Statement (5,421,617 ) (4,561,135 )
SHAREHOLDERS' FUNDS (1,451,069) (590,587)
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For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Timur Galiamov
Director
19 April 2024
The notes on pages 3 to 17 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Super Dot Com Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11614551 . The registered office is 156a Burnt Oak Broadway, Edgware, Middlesex, HA8 0AX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. 
Foreign currency translation
  1. Functional and presentation currency: Items included in the Company's financial statements are measured using the currency of the primary economic environment in which the entity operates ('the functional currency'). The financial statements are presented in Euro (€), which is the Company's functional and presentation currency.
  2. Transactions and balances: Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss. Translation differences on non-monetary items such as equities held at fair value through profit or loss are reported as part of the fair value gain or loss.
Consolidation
Under the provision of section 399 of the Companies Act 2006 the Company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.
2.2. Going Concern Disclosure
These accounts have been prepared on a going concern basis on the ground that the directors are of the opinion that the financial support available from the company's shareholders will continue in the future. Furthermore the directors are optimistic that the company will improve its profitability and generate sufficient funds in the foreseeable future.
2.3. Significant judgements and estimations
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
Calculation of loss allowance
When measuring expected credit losses the Company uses reasonable and supportable forward looking information, which is based on assumptions for the future movement of different economic drivers and how these drivers will affect each other. Loss given default is an estimate of the loss arising on default. It is based on the difference between the contractual cash flows due and those that the lender would expect to receive, taking into account cash flows from collateral and integral credit enhancements. Probability of default constitutes a key input in measuring ECL. Probability of default is an estimate of the likelihood of default over a given time horizon, the calculation of which includes historical data, assumptions and expectations of future conditions.
Income taxes
Significant judgment is required in determining the provision for income taxes. There are transactions and calculations for which the ultimate tax determination is uncertain during the ordinary course of business. The Company recognises liabilities for anticipated tax audit issues based on estimates of whether additional taxes will be due. Where the final tax outcome of these matters is different from the amounts that were initially recorded, such differences will impact the income tax and deferred tax provisions in the period in which such determination is made.
Impairment of loans receivable
The Company periodically evaluates the recoverability of loans receivable whenever indicators of impairment are present. Indicators of impairment include such items as declines in revenues, earnings or cash flows or material adverse changes in the economic or political stability of a particular country in which the borrower operates, which may indicate that the carrying amount of the loan is not recoverable. If facts and circumstances indicate that loans receivable may be impaired, the estimated future discounted cash flows associated with these loans would be compared to their carrying amounts to determine if a write-down to fair value is necessary.
Impairment of financial assets
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2.3. Significant judgements and estimations - continued
The loss allowances for financial assets are based on assumptions about risk of default and expected loss rates. The Company uses judgement in making these assumptions and selecting the inputs to the impairment calculation, based on the Company's past history, existing market conditions as well as forward looking estimates at the end of each reporting period.
Impairment of non-financial assets
The impairment test is performed using the discounted cash flows expected to be generated through the use of non-financial assets, using a discount rate that reflects the current market estimations and the risks associated with the asset. When it is impractical to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the cash generating unit in which the asset belongs to.
Impairment of intangible assets
Intangible assets are initially recorded at acquisition cost and are amortized on a straight line basis over their useful economic life. Intangible assets that are acquired through a business combination are initially recorded at fair value at the date of acquisition. Intangible assets with indefinite useful life are reviewed for impairment at least once per year. The impairment test is performed using the discounted cash flows expected to be generated through the use of the intangible assets, using a discount rate that reflects the current market estimations and the risks associated with the asset. When it is impractical to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the cash generating unit in which the asset belongs to.
Useful live of depreciable assets
The Board of Directors assesses the useful lives of depreciable assets at each reporting date, and revises them if necessary so that the useful lives represent the expected utility of the assets to the Company. Actual results, however, may vary due to technological obsolescence, mis-usage and other factors that are not easily predictable.
2.4. Turnover
Revenue represents the amount of consideration to which the Company expects to be entitled in exchange for transferring the promised services to the customer, excluding amounts collected on behalf of third parties (for example, value-added taxes); the transaction price. The Company includes in the transaction price an amount of variable consideration as a result of rebates/discounts only to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognised will not occur when the uncertainty associated with the variable consideration is subsequently resolved. Estimations for rebates and discounts are based on the Company's experience with similar contracts and forecasted sales to the customer.
The Company recognises revenue when the parties have approved the contract (in writing, orally or in accordance with other customary business practices ) and are committed to perform their respective obligations, the Company can identify each party's rights and the payment terms for the services to be transferred, the contract has commercial substance (i.e. the risk, timing or amount of the Company's future cash flows is expected to change as a result of the contract), it is probable that the Company will collect the consideration to which it will be entitled in exchange for the services that will be transferred to the customer and when specific criteria have been met for each of the Company's contracts with customers.
The Company bases its estimates on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement. In evaluating whether collectability of an amount of consideration is probable, the Company considers only the customer's ability and intention to pay that amount of consideration when it is due.
Estimates of revenues, costs or extent of progress toward completion are revised if circumstances change. Any resulting increases or decreases in estimates are reflected in the statement of profit or loss and other comprehensive income in the period in which the circumstances that give rise to the revision become known by Management.
Identification of performance obligations
The Company assesses whether contracts that involve the provision of a range of services contain one or more performance obligations (that is, distinct promises to provide a service) and allocates the transaction price to each performance obligation identified on the basis of its stand-alone selling price. A service that is promised to a customer is distinct if the customer can benefit from the service, either on its own or together with other resources that are readily available to the customer (that is the service is capable of being distinct) and the Company's promise to transfer the service to the customer is separately identifiable from other promises in the contract (that is, the service is distinct within the context of the contract).
Revenue is measured based on the consideration to which the Company expects to be entitled in a contract with a customer and excludes amounts collected on behalf of third parties. The Company recognises revenue when it transfers control of a product or service to a customer.
Rendering of services
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2.4. Turnover - continued
Revenue from rendering of services is recognised over time while the Company satisfies its performance obligation by transferring control over the promised service to the customer in the accounting period in which the services are rendered. For fixed-price contracts, revenue is recognised based on the actual service provided to the end of the reporting period as a proportion of the total services to be provided because the customer receives and uses the benefits simultaneously. This is determined based on the actual labour hours spent relative to the total expected labour hours. The input method is used to measure progress toward completion of the performance obligation as it provides a faithful depiction of the transfer of the control of the services to the customer.
Revenue from rendering of services at a point in time is recognised when the Company concludes that it transfers control over its services at a point in time, upon receipt by the customer of the service, because this is when the customer benefits from the relevant service.
Finance income
Interest income is recognised on a time-proportion basis using the effective method.
Finance costs
Interest expense and other borrowing costs are charged to profit or loss as incurred.
2.5. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets
Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is fair value as at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortisation and any accumulated impairment losses. Internally generated intangible assets, excluding capitalised development costs, are not capitalised and expenditure is reflected in profit or loss in the year in which the expenditure is incurred. The useful lives of intangible assets are assessed to be either finite or indefinite.
Intangible assets with finite lives are amortised over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a finite useful life is reviewed at least at each financial year end. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset is accounted for by changing the amortisation period or method, as appropriate, and are treated as changes in accounting estimates. The amortisation expense on intangible assets with finite lives is recognised in profit or loss in the expense category consistent with the function of the intangible asset.
Intangible assets with indefinite useful lives are tested for impairment annually either individually or at the cash generating unit level. Such intangibles are not amortised. The useful life of an intangible asset with an indefinite life is reviewed annually to determine whether indefinite life assessment continues to be supportable. If not, the change in the useful life assessment from indefinite to finite is made on a prospective basis.
Gains or losses arising from derecognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognised in profit or loss when the asset is derecognised.
Computer software
Costs that are directly associated with identifiable and unique computer software products controlled by the Company and that will probably generate economic benefits exceeding costs beyond one year are recognised as intangible assets. Subsequently computer software is carried at cost less any accumulated amortisation and any accumulated impairment losses. Expenditure which enhances or extends the performance of computer software programs beyond their original specifications is recognised as a capital improvement and added to the original cost of the computer software. Costs associated with maintenance of computer software programs are recognised as an expense when incurred. Computer software costs are amortised using the straight-line method over their useful lives, not exceeding a period of five years. Amortisation commences when the computer software is available for use.
An intangible asset is derecognised on disposal, or when no future economic benefits are expected from use or disposal. Gains or losses arising from derecognition of an intangible asset, measured as the difference between the net disposal proceeds and the carrying amount of the asset, are recognised in profit or loss when the asset is derecognised.
Impairment of non-financial assets
Assets that have an indefinite useful life are not subject to amortisation and are tested annually for impairment. Assets that are subject to depreciation or amortisation are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash-generating units). Non financial assets, other than goodwill, that have suffered an impairment are reviewed for possible reversal of the impairment at each reporting date.
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2.6. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 20% straight line
2.7. Taxation
The Company is tax resident in Cyprus. Current tax liabilities and assets are measured at the amount expected to be paid to or recovered from the taxation. The corporation tax rate is 12.5%.
Under certain conditions interest income may be subject to defence contribution at the rate of 30%. In such cases this interest will be exempt from corporation tax. In certain cases, dividends received from abroad may be subject to defence contribution at the rate of 17%.
Due to tax losses sustained in the period, no tax liability arises on the Company. Under current legislation, tax losses may be carried forward and set off against taxable income of the five succeeding years.
2.8. Subsidiary companies
Subsidiaries are entities controlled by the Company. Control exists where the Company is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Investments in subsidiary companies are stated at cost less provision for impairment in value, which is recognised as an expense in the period in which the impairment is identified.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2021: NIL)
- -
4. Intangible Assets
Computer software Computer software under development Total
Cost
As at 1 January 2022 1,382,472 1,613,587 2,996,059
Additions 2,203 573,880 576,083
Disposals - (356,946) (356,946 )
As at 31 December 2022 1,384,675 1,830,521 3,215,196
Amortisation
As at 1 January 2022 541,212 - 541,212
Provided during the period 293,944 - 293,944
Other (143,233 ) - (143,233 )
As at 31 December 2022 691,923 - 691,923
Net Book Value
As at 31 December 2022 692,752 1,830,521 2,523,273
As at 1 January 2022 841,260 1,613,587 2,454,847
The Company owns a portfolio of intangible assets, consisting of proprietary intellectual property rights to the following games: "Alchemist Adventure", "Wonhon: A Vengeful Spirit", "Retro Machina", "Broken Lines", "Raji: An Ancient Epic", "Tilt Pack" and "Zelter".
Computer software under development represents incurred costs until 31 December 2022 for the following games: "Warden: The Lost Legacy", "Deadlink (ex-Sprawl)",  "Deflector", "Metaphora" and "Luna Abyss". During the financial year "The development of Shadow of the Road" was discontinued due to breach of contract.
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5. Tangible Assets
Computer Equipment
Cost
As at 1 January 2022 7,524
Additions 749
As at 31 December 2022 8,273
Depreciation
As at 1 January 2022 2,866
Provided during the period 1,655
As at 31 December 2022 4,521
Net Book Value
As at 31 December 2022 3,752
As at 1 January 2022 4,658
6. Investments in subsidiaries
Unlisted
Cost
As at 1 January 2022 888
As at 31 December 2022 888
Provision
As at 1 January 2022 -
Impairment losses 888
As at 31 December 2022 888
Net Book Value
As at 31 December 2022 -
As at 1 January 2022 888
The subsidiary is Pay.Super Ltd, a company incorporated in England & Wales, trading in the provision of services for video games companies. The Company subscribed for 769 of the subsidiary's shares upon its incorporation, of nominal value GBP1 each, representing 76.9% of the subsidiary's issued share capital. On 31 January 2023, the subsidiary company Pay.Super Ltd was dissolved. During the financial year, impairment losses totalling €888 were recognised in the Income Statement in respect of the investment, thereby fully impairing that investment.
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7. Debtors
2022 2021
as restated
Due within one year
Trade debtors 4,902 53,160
Prepayments and accrued income 56,371 17,887
Advances to creditors 708 1,350
Advances to subcontractors 42,000 42,000
VAT 15,992 11,956
Directors' loan accounts 6,527 -
Amounts owed by group undertakings - 2,313
Amounts owed by related parties - 9,481
Amounts owed by other participating interests 101,896 128,279
228,396 266,426
8. Current Asset Investments
2022 2021
as restated
Listed investments 1 -
The financial assets at fair value through profit or loss are marketable securities and are valued at market value at the close of business on 31 December by reference to stock exhange quoted bid prices. Financial assets at fair value through profit or loss are classified as current assets because they are expected to be realised within twelve months from the reporting date.
9. Creditors: Amounts Falling Due Within One Year
2022 2021
as restated
Trade creditors 49,864 113,576
Other creditors 1,071 36,047
Accruals 124,941 58,365
Amounts owed to subsidiaries - 625
Amounts owed to related parties - 51,849
175,876 260,462
10. Creditors: Amounts Falling Due After More Than One Year
2022 2021
as restated
Amounts owed to parent undertaking 4,351,660 3,068,119
11. Share Capital
2022 2021
as restated
Allotted, Called up and fully paid 114 114
100 ordinary shares of GBP1 each at par.
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12. Financial Instruments
Financial assets - Classification
The Company classifies its financial assets in the following measurement categories: 
  • those to be measured subsequently at fair value (either through OCI or through profit or loss), and 
  • those to be measured at amortised cost.  
The classification and subsequent measurement of debt financial assets depends on: (i) the Company's business model for managing the related assets portfolio and (ii) the cash flow characteristics of the asset. On initial recognition, the Company may irrevocably designate a debt financial asset that otherwise meets the requirements to be measured at amortized cost or at FVOCI or at FVTPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise. 
For investments in equity instruments that are not held for trading, the classification will depend on whether the Company has made an irrevocable election at the time of initial recognition to account for the equity investment at fair value through other comprehensive income (FVOCI). This election is made on an investment-by-investment basis.
All other financial assets are classified as measured at FVTPL. 
For assets measured at fair value, gains and losses will either be recorded in profit or loss or 0CI. For investments in equity instruments that are not held for trading, this will depend on whether the Company has made an irrevocable election at the time of initial recognition to account for the equity investment at fair value through other comprehensive income (FVOCI).
Financial assets - Recognition and derecognitlon
All purchases and sales of financial assets that require delivery within the time frame established by regulation or market convention ("regular way" purchases and sales) are recorded at trade date, which is the date when the Company commits to deliver a financial instrument. All other purchases and sales are recognised when the entity becomes a party to the contractual provisions of the instrument. 
Financial assets are derecognised when the rights to receive cash flows from the financial assets have expired or have been transferred and the Company has transferred substantially all the risks and rewards of ownership. 
Financial assets - Measurement
At initial recognition, the Company measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss (FVTPL), transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at FVTPL are expensed in profit or loss. Fair value at initial recognition is best evidenced by the transaction price. A gain or loss on initial recognition is only recorded if there is a difference between fair value and transaction price which can be evidenced by other observable current market transactions in the same instrument or by a valuation technique whose inputs include only data from observable markets. 
Financial assets with embedded derivatives are considered in their entirety when determining whether their cash flows are solely payment of principal and interest. 
Financial assets - impairment - credit loss allowance for ECL 
The Company assesses on a forward-looking basis the ECL for debt instruments (including loans) measured at amortised cost and FVOCI and exposure arising from loan commitments and financial guarantee contracts. The Company measures ECL and recognises credit loss allowance at each reporting date. The measurement of ECL reflects: (i) an unbiased and probability weighted amount that is determined by evaluating a range of possible outcomes, (ii) time value of money and (iii) all reasonable and supportable information that is available without undue cost and effort at the end of each reporting period about past events, current conditions and forecasts of future conditions. 
The carrying amount of the financial assets is reduced through the use of an allowance account, and the amount of the loss is recognised in the statement of profit or loss and other comprehensive income within "net impairment losses on financial and contract assets. Subsequent recoveries of amounts for which loss allowance was previously recognised are credited against the same line item. 
Debt instruments carried at amortised cost are presented in the statement of financial position net of the allowance for ECL. For loan commitments and financial guarantee contracts, a separate provision for ECL is recognised as a liability in the statement of financial position. 
For debt instruments at FVOCI, an allowance for ECL is recognised in profit or loss and it affects fair value gains or losses recognised in OCI rather than the carrying amount of those instruments. 
The impairment methodology applied by the Company for calculating expected credit losses depends on the type of financial asset assessed for impairment. Specifically: 
For trade receivables and contract assets, including trade receivables and contract assets with a significant financing component, and lease receivables the Company applies the simplified approach permitted by IFRS 9, which requires lifetime expected credit losses to be recognised from initial recognition of the financial assets. 
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12. Financial Instruments - continued
For all other financial instruments that are subject to impairment under IFRS 9, the Company applies general approach - three stage model for impairment. The Company applies a three stage model for impairment, based on changes in credit quality since initial recognition. A financial instrument that is not credit-impaired on initial recognition is classified in Stage 1. 
Financial assets in Stage 1 have their ECL measured at an amount equal to the portion of lifetime ECL that results from default events possible within the next 12 months or until contractual maturity, if shorter ("12 Months ECL"). If the Company identifies a significant increase in credit risk ("SICR") since initial recognition, the asset is transferred to Stage 2 and its ECL is measured based on ECL on a lifetime basis, that is, up until contractual maturity but considering expected prepayments, if any ("Lifetime ECL"). Refer to the Credit risk section, for a description of how the Company determines when a SICR has occurred. If the Company determines that a financial asset is credit­ impaired, the asset is transferred to Stage 3 and its ECL is measured as a Lifetime ECL. The Company's definition of credit impaired assets and definition of default is explained in the Credit risk section. 
Additionally the Company has decided to use the low credit risk assessment exemption for investment grade financial assets. Refer to the Credit risk section for a description of how the Company determines low credit risk financial assets. 
Financial assets - reclassification 
Financial instruments are reclassified only when the business model for managing those assets changes. The reclassification has a prospective effect and takes place from the start of the first reporting period following the change. 
Financial assets - write-off 
Financial assets are written-off, in whole or in part, when the Company exhausted all practical recovery efforts and has concluded that there is no reasonable expectation of recovery. The write-off represents a derecognition event. The Company may write-off financial assets that are still subject to enforcement activity when the Company seeks to recover amounts that are contractually due, however, there is no reasonable expectation of recovery. 
Financial assets - modification 
The Company sometimes renegotiates or otherwise modifies the contractual terms of the financial assets. The Company assesses whether the modification of contractual cash flows is substantial considering, among other, the following factors: any new contractual terms that substantially affect the risk profile of the asset (e.g. profit share or equity-based return), significant change in interest rate, change in the currency denomination, new collateral or credit enhancement that significantly affects the credit risk associated with the asset or a significant extension of a loan when the borrower is not in financial difficulties. 
If the modified terms are substantially different, the rights to cash flows from the original asset expire and the Company derecognises the original financial asset and recognises a new asset at its fair value. The date of renegotiation is considered to be the date of initial recognition for subsequent impairment calculation purposes, including determining whether a SICR has occurred. The Company also assesses whether the new loan or debt instrument meets the SPPI criterion. Any difference between the carrying amount of the original asset derecognised and fair value of the new substantially modified asset is recognised in profit or loss, unless the substance of the difference is attributed to a capital transaction with owners. 
In a situation where the renegotiation was driven by financial difficulties of the counterparty and inability to make the originally agreed payments, the Company compares the original and revised expected cash flows to assets whether the risks and rewards of the asset are substantially different as a result of the contractual modification. If the risks and rewards do not change, the modified asset is not substantially different from the original asset and the modification does not result in derecognition. The Company recalculates the gross carrying amount by discounting the modified contractual cash flows by the original effective interest rate, and recognises a modification gain or loss in profit or loss.
Cash and cash equivalents
For the purpose of the cash flow statement, cash and cash equivalents comprise cash at bank. Cash and cash equivalents are carried at amortised cost because: (i) they are held for collection of contractual cash flows and those cash flows represent SPPI, and (ii) they are not designated at FVTPL.
Classification as financial assets at amortised cost
These amounts generally arise from transactions outside the usual operating activities of the Company. They are held with the objective to collect their contractual cash flows and their cash flows represent solely payments of principal and interest. Accordingly, these are measured at amortised cost using the effective interest method, less provision for impairment. Financial assets at amortised cost are classified as current assets if they are due within one year or less (or in the normal operating cycle of the business if longer). If not, they are presented as non-current assets.
Classification as trade receivables
Trade receivables are amounts due from customers for goods sold or services performed in the ordinary course of business. If collection is expected in one year or less ( or in the normal operating cycle of the business if longer), they are classified as current assets. If not, they are presented as non-current assets. Trade receivables are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method, less loss allowance.
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12. Financial Instruments - continued
Trade receivables are recognised initially at the amount of consideration that is unconditional unless they contain significant financing components, in which case they are recognised at fair value. The Company holds the trade receivables with the objective to collect the contractual cash flows and therefore measures them subsequently at amortised cost using the effective interest method.
Trade receivables are also subject to the impairment requirements of IFRS 9. The Company applies the IFRS 9 simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for all trade receivables.
Trade receivables are written off when there is no reasonable expectation of recovery. Indicators that there is no reasonable expectation of recovery include, amongst others, the failure of a debtor to engage in a repayment plan with the Company, and a failure to make contractual payments for a period of greater than 180 days past due.
Credit related commitments
The Company issues commitments to provide loans. Such commitments are initially recognised at their fair value, which is normally evidenced by the amount of fees received. This amount is amortised on a straight-line basis over the life of the commitment, except for commitments to originate loans if it is probable that the Company will enter into a specific lending arrangement and does not expect to sell the resulting loan shortly after origination; such loan commitment fees are deferred and included in the carrying value of the loan on initial recognition. At the end of each reporting period, the commitments are measured at (i) the remaining unamortised balance of the amount at initial recognition, plus (ii) the amount of the loss allowance determined based on the expected credit loss model, unless the commitment is to provide a loan at a below market interest rate, in which case the measurement is at the higher of these two amounts. The carrying amount of the loan commitments represents a liability. For contracts that include both a loan and an undrawn commitment and where the Company cannot separately distinguish the ECL on the undrawn loan component from the loan component, the ECL on the undrawn commitment is recognised together with the loss allowance for the loan. To the extent that the combined ECLs exceed the gross carrying amount of the loan, they are recognised as a liability.
Financial liabilities - measurement categories
Financial liabilities are initially recognised at fair value and classified as subsequently measured at amortised cost, except for (i) financial liabilities at FVTPL: this classification is applied to derivatives, financial liabilities held for trading (e.g. short positions in securities), contingent consideration recognised by an acquirer in a business combination and other financial liabilities designated as such at initial recognition and (ii) financial guarantee contracts and loan commitments. A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires.
Trade payables
Trade payables are initially measured at fair value and are subsequently measured at amortised cost, using the effective interest rate method.
Financial liabilities - Modifications
An exchange between the Company and its original lenders of debt instruments with substantially different terms, as well as substantial modifications of the terms and conditions of existing financial liabilities, are accounted for as an extinguishment of the original financial liability and the recognition of a new financial liability. The terms are substantially different if the discounted present value of the cash flows under the new terms, including any fees paid net of any fees received and discounted using the original effective interest rate, is at least 10% different from the discounted present value of the remaining cash flows of the original financial liability. (In addition, other qualitative factors, such as the currency that the instrument is denominated in, changes in the type of interest rate, new conversion features attached to the instrument and change in loan covenants are also considered.)
If an exchange of debt instruments or modification of terms is accounted for as an extinguishment, any costs or fees incurred are recognised as part of the gain or loss on the extinguishment. If the exchange or modification is not accounted for as an extinguishment, any costs or fees incurred adjust the carrying amount of the liability and are amortised over the remaining term of the modified liability.
Modifications of liabilities that do not result in extinguishment are accounted for as a change in estimate using a cumulative catch up method, with any gain or loss recognised in profit or loss, unless the economic substance of the difference in carrying values is attributed to a capital transaction with owners and is recognised directly to equity.
Borrowing costs are interest and other costs that the Company incurs in connection with the borrowing of funds, including interest on borrowings, amortisation of discounts or premium relating to borrowings, amortisation of ancillary costs incurred in connection with the arrangement of borrowings, finance lease charges and exchange differences arising from foreign currency borrowings to the extent that they are regarded as an adjustment to interest costs.
Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset, being an asset that necessarily takes a substantial period of time to get ready for its intended use or sale, are capitalised as part of the cost of that asset, when it is probable that they will result in future economic benefits to the Company and the costs can be measured reliably.
Offsetting financial instruments
Financial assets and financial liabilities are offset and the net amount reported in the statement of financial position if, and only if, there is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, or to realise the asset and settle the liability simultaneously. This is not generally the case with master netting agreements, and the related assets and liabilities are presented gross in the statement of financial position.
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13. Foreign Currency Risk
Currency risk is the risk that the value of financial instruments will fluctuate due to changes in foreign exchange rates. Currency risk arises when future commercial transactions and recognised assets and liabilities are denominated in a currency that is not the Company's measurement currency. The Company is exposed to foreign exchange risk arising from various currency exposures primarily with respect to the US Dollar and the Euro. The Company's Management monitors the exchange rate fluctuations on a continuous basis and acts accordingly.
14. Credit Risk
Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to meet an obligation. Credit risk arises from cash and cash equivalents, contractual cash flows of debt investments carried at amortised cost, at fair value through other comprehensive income (FVOCJ) and at fair value through profit or loss (FVTPL), favourable derivative financial instruments and deposits with banks and financial institutions, as well as credit exposures to wholesale and retail customers, including outstanding receivables and contract assets as well as lease receivables. Further, credit risk arises from financial guarantees and credit related commitments.
(i) Risk management
Credit risk is managed on a group basis. For banks and financial institutions, the Company has established policies whereby the majority of bank balances are held with independently rated parties with a certain minimum rating.
If debtor/borrower are independently rated, these ratings are used. otherwise, if there is no independent rating, Management assesses the credit quality of the debtor/ borrower, taking into account its financial position, past experience and other factors. Individual credit limits and credit terms are set based on the credit quality of the customer in accordance with limits set by the Board of Directors. The utilisation of credit limits is regularly monitored. Sales to retail customers are settled in cash or using major credit cards.
There are no significant concentrations of credit risk, whether through exposure to individual customers, specific industry sectors and/or regions.
The Company's investments in debt instruments are considered to be low risk investments. The credit ratings of the investments are monitored for credit deterioration.
These policies enable the Company to reduce its credit risk significantly.
(ii) Impairment of financial assets
The Company has the following types of financial assets that are subject to the expected credit loss model:
  • trade receivables
  • cash and cash equivalents
The impairment methodology applied by the Company for calculating expected credit losses depends on the type of financial asset assessed for impairment. Specifically:
  • For trade receivables the Company applies the simplified approach permitted by IFRS 9, which requires lifetime expected losses to be recognised from initial recognition of the financial assets.
  • For all other financial assets that are subject to impairment under IFRS 9, the Company applies general approach - three stage model for impairment. The Company applies a three-stage model for impairment, based on changes in credit quality since initial recognition. A financial asset that is not credit-impaired on initial recognition is classified in Stage 1. Financial assets in Stage 1 have their ECL measured at an amount equal to the portion of lifetime ECL that results from default events possible within the next 12 months or until contractual maturity, if shorter ("12 Months ECL"). If the Company identifies a significant increase in credit risk ("SICR") since initial recognition, the asset is transferred to Stage 2 and its ECL is measured based on ECL on a lifetime basis, that is, up until contractual maturity but considering expected prepayments, if any ("Lifetime ECL"). If the Company determines that a financial asset is credit-impaired, the asset is transferred to Stage 3 and its ECL is measured as a Lifetime ECL.
Impairment losses are presented as net impairment losses on financial and contract assets within operating profit. Subsequent recoveries of amounts previously written off are credited against the same line item.
Significant increase in credit risk
The Company considers the probability of default upon initial recognition of the asset and whether there has been a significant increase in credit risk on an ongoing basis throughout each reporting period. To assess whether there is a significant increase in credit risk the Company compares the risk of a default occurring on the financial asset as at the reporting date with the risk of default as at the date of initial recognition. It considers available reasonable and supportive forwarding-looking information. Especially the following indicators are incorporated:
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14. Credit Risk - continued
  • internal credit rating
  • external credit rating (as far as available)
  • actual or expected significant adverse changes in business, financial or economic conditions that are expected to cause a significant change to the borrower's/counterparty's ability to meet its obligations
  • actual or expected significant changes in the operating results of the borrower/counterparty
  • significant increases in credit risk on other financial instruments of the same borrower/counterparty
  • significant changes in the value of the collateral supporting the obligation or in the quality of third-party guarantees or credit enhancements
  • significant changes in the expected performance and behaviour of the borrower/counterparty, including changes in the payment status of counterparty in the Company and changes in the operating results of the borrower/counterparty.
Macroeconomic information (such as market interest rates or growth rates) is incorporated as part of the internal rating model. The historical loss rates are adjusted to reflect current and forward-looking information on macroeconomic factors affecting the ability of the customers to settle the receivables. The Company has identified the GDP and the unemployment rate of the countries in which it sells its goods and services to be the most relevant factors, and accordingly adjusts the historical loss rates based on expected changes in these factors. No significant changes to estimation techniques or assumptions were made during the reporting period.
Regardless of the analysis above, a significant increase in credit risk is presumed if a debtor is more than 30 days past due in making a contractual payment.
Low credit risk
The Company has decided to use the low credit risk assessment exemption for investment grade financial assets. Management consider 'low credit risk' for listed bonds to be an investment grade credit rating with at least one major rating agency. Other instruments are considered to be low credit risk when they have a low risk of default and the issuer has a strong capacity to meet its contractual cash flow obligations in the near term.
Default
A default on a financial asset is when the counterparty fails to make contractual payments within 90 days of when they fall due.
Write-off
Financial assets are written off when there is no reasonable expectation of recovery, such as a debtor failing to engage in a repayment plan with the Company. The Company categorises a debt financial asset for write off when a debtor fails to make contractual payments greater than 180 days past due. Where debt financial assets have been written off, the Company continues to engage in enforcement activity to attempt to recover the receivable due. Where recoveries are made, these are recognised in profit or loss.
The Company's exposure to credit risk for each class of (asset/instrument) subject to the expected credit loss model is set out below:
Trade receivables and contract assets
The Company applies the IFRS 9 simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for all trade receivables (including those with a significant financing component, and contract assets.
To measure the expected credit losses, trade receivables and contract assets have been grouped based on shared credit risk characteristics and the days past due. The contract assets relate to unbilled work in progress and have substantially the same risk characteristics as the trade receivables for the same types of contracts. The Company has therefore concluded that the expected loss rates for trade receivables are a reasonable approximation of the loss rates for the contract assets.
The expected loss rates are based on the payment profiles of sales over a period of 36 months before 31 December 2022 or 1 January 2022 respectively and the corresponding historical credit losses experienced within this period. The historical loss rates are adjusted to reflect current and forward-looking information on macroeconomic factors affecting the ability of the customers to settle the receivables. The Company has identified the GDP and the unemployment rate of the countries in which it sells its goods and services to be the most relevant factors, and accordingly adjusts the historical loss rates based on expected changes in these factors.
The average credit period on sales of goods is 60 days. No interest is charged on outstanding trade receivables.
The Company always measures the loss allowance for trade receivables at an amount equal to lifetime ECL.
There were no significant trade receivable and contract asset balances written off during the year that are subject to enforcement activity.
Receivables from related parties
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14. Credit Risk - continued
For receivables from related parties lifetime ECL was provided for them upon initial application of IFRS 9 until these financial assets are derecognised as it was determined on initial application of IFRS 9 that it would require undue cost and effort to determine whether their credit risk has increased significantly since initial recognition to the date of initial application of IFRS 9.
For any new loans to related parties, which are not purchased or originated credit-impaired financial assets, the impairment loss is recognised as 12-month ECL on initial recognition of such instruments and subsequently the Company assesses whether there was a significant increase in credit risk.
The Company does not hold any collateral as security for any receivables from related parties.
There were no significant receivables from related parties written off during the year that are subject to enforcement activity.
Cash and cash equivalents
The Company assesses, on a group basis, its exposure to credit risk arising from cash at bank. This assessment takes into account, ratings from external credit rating institutions and internal ratings, if external are not available.
Bank deposits held with banks with investment grade rating are considered as low credit risk.
The ECL on current accounts is considered to be approximate to 0, unless the bank is subject to capital controls. The ECL on deposits accounts is calculated by considering published PDs for the rating as per Moody's and an LGD of 40-60% as published by ECB.
The Company does not hold any collateral as security for any cash at bank balances.
There were no significant cash at bank balances written off during the year that are subject to enforcement activity.
(iii) Net impairment losses on financial and contract assets recognised in profit or loss
During the year, the following gains/(losses) were recognised in profit or loss in relation to impaired financial assets and contract assets:
Impairment losses
  • Reversal of impairment charge to loans receivable: €99,188 (2021: (€99,188))
  • Reversal of impairment charge to loans to related parties: €938,697 (2021: (€938,697))
  • Reversal of impairment charge to receivables from related parties: €6,324 (2021: (€6,324))
  • Impairment charge of Investments in subsidiaries: (€888) (2021: €Nil)
  • Net impairment profit/(loss) on financial and contract assets: €1,043,321 (2021: (€1,044,209))
(iv) Credit related commitments
The primary purpose of these instruments is to ensure that funds are available to a borrower as required. Guarantees which represent irrevocable assurances that the Company will make payments in the event that a counterparty cannot meet its obligations to third parties, carry the same credit risk as loans receivable. Commitments to extend credit represent unused portions of authorisations to extend credit in the form of loans or guarantees. With respect to credit risk on commitments to extend credit, the Company is potentially exposed to loss in an amount equal to the total unused commitments, if the unused amounts were to be drawn down. The Company monitors the term to maturity of credit related commitments, because longer-term commitments generally have a greater degree of credit risk than shorter-term commitments.
15. Liquidity Risk
Liquidity risk is the risk that arises when the maturity of assets and liabilities does not match. An unmatched position potentially enhances profitability, but can also increase the risk of losses. The Company has procedures with the object of minimising such losses such as maintaining sufficient cash and other highly liquid current assets and by having available an adequate amount of committed credit facilities.
16. Cash-flow Interest Rate Risk
Interest rate risk is the risk that the value of financial instruments will fluctuate due to changes in market interest rates. The Company's income and operating cash flows are substantially independent of changes in market interest rates as the Company has no significant interest-bearing assets. The Company is exposed to interest rate risk in relation to its non-current borrowings. Borrowings issued at variable rates expose the Company to cash flow interest rate risk. Borrowings issued at fixed rates expose the Company to fair value interest rate risk. The Company's Management monitors the interest rate fluctuations on a continuous basis and acts accordingly.
17. Contingent Liabilities
The Company had no contingent liabilities as at 31 December 2022.
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18. Capital Commitments
The Company had no capital or other commitments as at 31 December 2022.
19. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2022 Amounts advanced Amounts repaid Amounts written off As at 31 December 2022
Mr Timur Galiamov - 6,527 - - 6,527
The above loan carries interest at the rate of 2% and is granted for one year starting from the date the loan is credited to the Borrower's account.
20. Reserves
Included in Reserves are capital contributions received from the company's shareholder Super Dot Com Holding Ltd in 2020. The consideration was received in cash and no shares were received in return for the cash. The Company has no contractual obligation to repay its shareholder. Such contributions are recognised directly in equity as they constitute transactions with equity owners in their capacity as equity owners of the Company.
21. Post Balance Sheet Events
The geopolitical situation in Eastern Europe intensified on 24 February 2022 with the commencement of the conflict between Russia and Ukraine. As at the date of authorising these financial statements for issue, the conflict continues to evolve as military activity proceeds. In addition to the impact of the events on entities that have operations in Russia, Ukraine, or Belarus or that conduct business with their counterparties, the conflict is increasingly affecting economies and financial markets globally and exacerbating ongoing economic challenges.
The United Nations, European Union as well as United States of America, Switzerland, United Kingdom and other countries imposed a series of restrictive measures (sanctions) against the Russian and Belarussian government, various companies, and certain individuals. The sanctions imposed include an asset freeze and a prohibition from making funds available to the sanctioned individuals and entities. In addition, travel bans applicable to the sanctioned individuals prevents them from entering or transiting through the relevant territories. The Republic of Cyprus has adopted the United Nations and European Union measures. The rapid deterioration of the conflict in Ukraine may as well lead to the possibility of further sanctions in the future.
Emerging uncertainty regarding global supply of commodities due to the conflict between Russia and Ukraine conflict may also disrupt certain global trade flows and place significant upwards pressure on commodity prices and input costs as seen through early March 2022. Challenges for companies may include availability of funding to ensure access to raw materials, ability to finance margin payments and heightened risk of contractual non-performance.
The impact on the Company largely depends on the nature and duration of uncertain and unpredictable events, such as further military action, additional sanctions, and reactions to ongoing developments by global financial markets.
The financial effect of the current crisis on the global economy and overall business activities cannot be estimated with reasonable certainty at this stage, due to the pace at which the conflict prevails and the high level of uncertainties arising from the inability to reliably predict the outcome. Management will continue to monitor the situation closely and assess/seek additional measures/committed facilities as a fall-back plan in case the crisis becomes prolonged.
On 26 March 2021, the Company entered into 'Shadow of the Road License Agreement' with Another Angle Games Sp. z o.o. (formerly TL 9 Sp. z o.o.) (herein referred to as the 'Developer') under which the Company obtained exclusive use and distribution rights to the game Shadow of the Road.  During 2023, the Developer proceeded with a winding-up Petition towards the Company on the grounds that the Company is unable to repay its outstanding debts to the Developer. This petition was dismissed on 19 September 2023.
Except from the matter mentioned above, there were no other material events after the reporting period, which have a bearing on the understanding of the financial statements.
22. Related Party Transactions
The following transactions were carried out with related parties:
Oleg Sambikin (Oleg Sambikin controlled the Company until 24 June 2022)
  • The balance of €Nil  (2021: €26,383) included in amounts owed by other participating interests relates to finance transactions. The receivable was provided interest free, unsecured and has no specified repayment date.
Super Dot Com Holding Ltd (Super Dot Com Holding Ltd is the parent company of Super Dot Com Ltd)
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22. Related Party Transactions - continued
  • Amounts owed to parent undertaking represents a loan from Super Dot Com Holding Ltd of  €4,351,660 (2021: €3,068,119). The loan carries interest at the rate of 3% per annum, is unsecured and repayable in 2026. Interest charged for the year ended 31 December 2022 is €143,737 (2021: €36,825)
  • Included in amounts owed by other participating interests is a balance of €101,896 (2021: €101,896) due from Super Dot Com Holding Ltd. The receivable from the parent company was provided interest free, unsecured and has no specified repayment date.
Squadro Ltd (Squadro Ltd is a parent undertaking of Super Dot Com Ltd)
  • Included in amounts owed by other participating interests is a balance of €Nil (2021: €Nil) due from Squadro Ltd. Included in the impairment charge on financial assets is a reversal to a prior year credit loss allowance of €6,324. The receivable from the parent undertaking was provided interest free, unsecured and has no specified repayment date.
Pay.Super Ltd (Pay.Super Ltd was a subsidiary of Super Dot Com Ltd until it was dissolved on 31 January 2023)
  • The balance of €Nil (2021: €625) included in amounts owed to subsidiaries relates to acquisition and subsidiary finance. The payable was provided interest free, unsecured and has no specified repayment date.
  • The Investment in subsidiary was impaired as detailed in the respective note.
Ad Investments Limited (Ex Super Fund LLC) (Ad Investments Limited has common beneficial owners with Super Dot Com Ltd)
  • An amount of €Nil (2021: €3,560) included in amounts owed to related parties relates to finance transactions. The payable was provided interest free, unsecured and has no specified repayment date.
  • Included in the reversal of impairment charge on loans to related parties of €938,697, is a loan of €83,424 (2021: €83,424) to this related party. The receivable carried interest at the rate of 2% per annum, was unsecured and repayable on demand. On 28 April 2023, the Company resolved to write off the loan receivable.
Protocol One Pte Ltd (Protocol One Pte Ltd is a group undertaking of Super Dot Com Ltd)
  • The balance of €Nil (2021: €2,311) included in amounts owed by group undertakings relates to finance transactions. The receivable was provided interest free, unsecured and has no specified repayment date.
Paysupercompany Ltd (Paysupercompany Ltd has common beneficial owners with Super Dot Com Ltd)
  • Included in amounts owed to related parties is a balance of €Nil (2021: €48,289) due to this related party. The amount owed is interest free, is unsecured and has no specified repayment date.
FT Plan Ltd (FT Plan Ltd has common beneficial owners with Super Dot Com Ltd)
  • Included in the reversal of impairment charge on loans to related parties of €938,697, is a loan of €106,665 (2021: €106,665) to this related party. The receivable carried interest at the rate of 2% per annum, was unsecured and repayable on demand. On 28 April 2023, the Company resolved to write off the loan receivable.
  • The balance of €Nil (2021: €4,778) included in amounts owed by related parties relates to finance transactions. The receivable was provided interest free, unsecured and has no specified repayment date.
M.S. Marsvision Software Development Ltd (M.S. Marsvision Software Development has common beneficial owners with Super Dot Com Ltd)
  • Included in the reversal of impairment charge on loans to related parties of €938,697, is a loan of €57,605 (2021: €57,605) to this related party. The receivable carried interest at the rate of 2% per annum, was unsecured and repayable on demand. On 3 May 2023, the Company resolved to write off the loan receivable.
  • The balance of € Nil (2021: €2,534) included in amounts owed by related parties relates to finance transactions. The receivable was provided interest free, unsecured and has no specified repayment date.
SF2 Super Fund 2 Ltd (SF2 Super Fund 2 Ltd has common beneficial owners with Super Dot Com Ltd)
  • Included in the reversal of impairment charge on loans to related parties of €938,697, is a loan of €563,284 (2021: €563,284) to this related party. The receivable carried interest at the rate of 2% per annum, was unsecured and repayable on demand. On 28 April 2023, the Company resolved to write off the loan receivable.
  • The balance of €Nil (2021: €2,169) included in amounts owed by related parties relates to finance transactions. The receivable was provided interest free, unsecured and has no specified repayment date.
Moonycat Entertainment (Moonycat Entertainment has common beneficial owners with Super Dot Com Ltd) 
  • Included in the reversal of impairment charge on loans to related parties of €938,697, is a loan of €127,901 (2021: €127,901) to this related party. The receivable carried interest at the rate of 3% per annum, was unsecured and repayable on demand. Interest received during the year is €2,951 (2021: €401). On 21 January 2022, the Company deemed the loan receivable as irrecoverable.
  • The Company paid an amount of €Nil (2021: €489,375) to the related company, representing development cost which was capitalised.
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23. Exceptional Items
The loss of €372,937 on the game "Shadow of the road" is shown in Other operating expenses. The expenditure inccurred on the game's development was stopped due to a breach of contract. The loss falls outside the ordinary activities of the company and is not expected to recur.
24. Ultimate Controlling Party
The company's immediate and ultimate parent undertaking is Super Dot Com Holding Ltd, which owns 100% of the company's shares. Super Dot Com Holding Ltd was incorporated in Cyprus. Copies of the parent accounts may be obtained from 22 Larnacos, Floor 2 Flat 202, Aglantzia 2102, Lefkosia, Cyprus. Up to 24 June 2022, the Company was controlled by Mr. Oleg Sambikin. From that date onwards, the Company is controlled by Mr. Kirill Evstratov.
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