Perpetual Games Limited 12743653 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is publishing of computer games. Digita Accounts Production Advanced 6.30.9574.0 true true 12743653 2022-08-01 2023-07-31 12743653 2023-07-31 12743653 core:RetainedEarningsAccumulatedLosses 2023-07-31 12743653 core:ShareCapital 2023-07-31 12743653 core:CurrentFinancialInstruments 2023-07-31 12743653 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 12743653 core:FurnitureFittingsToolsEquipment 2023-07-31 12743653 core:OtherRelatedParties 2023-07-31 12743653 bus:SmallEntities 2022-08-01 2023-07-31 12743653 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 12743653 bus:FullAccounts 2022-08-01 2023-07-31 12743653 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 12743653 bus:RegisteredOffice 2022-08-01 2023-07-31 12743653 bus:Director1 2022-08-01 2023-07-31 12743653 bus:Director2 2022-08-01 2023-07-31 12743653 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 12743653 core:Goodwill 2022-08-01 2023-07-31 12743653 core:FurnitureFittingsToolsEquipment 2022-08-01 2023-07-31 12743653 core:OfficeEquipment 2022-08-01 2023-07-31 12743653 core:OtherRelatedParties 2022-08-01 2023-07-31 12743653 countries:EnglandWales 2022-08-01 2023-07-31 12743653 2022-07-31 12743653 core:FurnitureFittingsToolsEquipment 2022-07-31 12743653 core:OtherRelatedParties 2022-07-31 12743653 2021-08-01 2022-07-31 12743653 2022-07-31 12743653 core:RetainedEarningsAccumulatedLosses 2022-07-31 12743653 core:ShareCapital 2022-07-31 12743653 core:CurrentFinancialInstruments 2022-07-31 12743653 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 12743653 core:FurnitureFittingsToolsEquipment 2022-07-31 12743653 core:OtherRelatedParties 2022-07-31 12743653 2021-07-31 12743653 core:OtherRelatedParties 2021-07-31 iso4217:GBP xbrli:pure

Registration number: 12743653

Perpetual Games Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 July 2023

 

Perpetual Games Limited
(Registration number: 12743653)

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Perpetual Games Limited
(Registration number: 12743653)

Company Information

Directors

Mr R Scott

Mr S Davies

Registered office

Southernhay Studios
Dean Clarke House
Southernhay East
Exeter
Devon
EX1 1AP

Accountants

Thompson Jenner LLP
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

Perpetual Games Limited
(Registration number: 12743653)

Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,398

3,681

Current assets

 

Debtors

5

68,656

70,897

Cash at bank and in hand

 

1,612

120,443

 

70,268

191,340

Creditors: Amounts falling due within one year

6

(782,943)

(790,636)

Net current liabilities

 

(712,675)

(599,296)

Net liabilities

 

(710,277)

(595,615)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(710,377)

(595,715)

Total equity

 

(710,277)

(595,615)

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 30 April 2024 and signed on its behalf by:
 

.........................................
Mr S Davies
Director

 

Perpetual Games Limited
(Registration number: 12743653)

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Southernhay Studios
Dean Clarke House
Southernhay East
Exeter
Devon
EX1 1AP

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company has net liabilities and is reliant on the support of the directors. The directors are willing to support the company for the foreseeable future and are confident that the company can meet its ongoing liabilities as they fall due. As a result the financial statements have been prepared on a going concern basis.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Perpetual Games Limited
(Registration number: 12743653)

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Perpetual Games Limited
(Registration number: 12743653)

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Perpetual Games Limited
(Registration number: 12743653)

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 5).

 

Perpetual Games Limited
(Registration number: 12743653)

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 August 2022

5,132

5,132

At 31 July 2023

5,132

5,132

Depreciation

At 1 August 2022

1,451

1,451

Charge for the year

1,283

1,283

At 31 July 2023

2,734

2,734

Carrying amount

At 31 July 2023

2,398

2,398

At 31 July 2022

3,681

3,681

5

Debtors

2023
£

2022
£

Other debtors

68,506

69,556

Prepayments and accrued income

150

1,341

Total current trade and other debtors

68,656

70,897

 

Perpetual Games Limited
(Registration number: 12743653)

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

6

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

750,000

750,000

Trade creditors

 

8,996

18,118

Taxation and social security

 

-

5,676

Other creditors

 

21,497

14,402

Accrued expenses

 

2,450

2,440

 

782,943

790,636

7

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Other borrowings

750,000

750,000

8

Related party transactions

Loans to related parties

2023

Other related parties
£

Total
£

At start of period

750,000

750,000

At end of period

750,000

750,000

2022

Other related parties
£

Total
£

At start of period

750,000

750,000

At end of period

750,000

750,000

Terms of loans to related parties

Interest free and repayable on demand.