2022-11-012023-10-312023-10-31false11077940TIER ZERO GAMES 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TIER ZERO GAMES LIMITED

Registered Number
11077940
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

TIER ZERO GAMES LIMITED
Company Information
for the year from 1 November 2022 to 31 October 2023

Director

Oliver James Hickey

Registered Address

Suite 9 30 Bancroft
Hitchin
SG5 1LE

Registered Number

11077940 (England and Wales)
TIER ZERO GAMES LIMITED
Statement of Financial Position
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets350,02553,763
Tangible assets41,6111,285
51,63655,048
Current assets
Stocks5317,000580,915
Debtors122,70499,784
Cash at bank and on hand30,34270,097
470,046750,796
Creditors amounts falling due within one year6(78,432)(221,823)
Net current assets (liabilities)391,614528,973
Total assets less current liabilities443,250584,021
Creditors amounts falling due after one year7(252,628)(211,377)
Net assets190,622372,644
Capital and reserves
Called up share capital100100
Share premium277,456277,456
Profit and loss account(86,934)95,088
Shareholders' funds190,622372,644
The financial statements were approved and authorised for issue by the Director on 24 July 2024, and are signed on its behalf by:
Oliver James Hickey
Director
Registered Company No. 11077940
TIER ZERO GAMES LIMITED
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Intangible assets
Intangible fixed assets relates to purchase of Goodwill and is depreciated at 6.5% per year.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery4
Office Equipment3
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year43
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 November 2257,50057,500
At 31 October 2357,50057,500
Amortisation and impairment
At 01 November 223,7373,737
Charge for year3,7383,738
At 31 October 237,4757,475
Net book value
At 31 October 2350,02550,025
At 31 October 2253,76353,763
4.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 November 222711,5101,781
Additions246699945
At 31 October 235172,2092,726
Depreciation and impairment
At 01 November 2268428496
Charge for year93526619
At 31 October 231619541,115
Net book value
At 31 October 233561,2551,611
At 31 October 222031,0821,285
5.Stocks

2023

2022

££
Finished goods317,000580,915
Total317,000580,915
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables16,39085,264
Bank borrowings and overdrafts31,029112,438
Taxation and social security30,95323,256
Other creditors60865
Total78,432221,823
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts54,44239,379
Other creditors198,186171,998
Total252,628211,377