Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 08403673 Mr Paul Dolman-Darrall Mrs Helen Walton Mr Daniel Rough Gluck Group Limited Sovereign Place, 117 Main Street, Gibraltar, GX11 1AA true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08403673 2022-12-31 08403673 2023-12-31 08403673 2023-01-01 2023-12-31 08403673 frs-core:CurrentFinancialInstruments 2023-12-31 08403673 frs-core:Non-currentFinancialInstruments 2023-12-31 08403673 frs-core:ComputerEquipment 2023-12-31 08403673 frs-core:ComputerEquipment 2023-01-01 2023-12-31 08403673 frs-core:ComputerEquipment 2022-12-31 08403673 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-12-31 08403673 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-01-01 2023-12-31 08403673 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2022-12-31 08403673 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 08403673 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 08403673 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 08403673 frs-core:FurnitureFittings 2023-12-31 08403673 frs-core:FurnitureFittings 2023-01-01 2023-12-31 08403673 frs-core:FurnitureFittings 2022-12-31 08403673 frs-core:InvestmentPropertyIncludedWithinPPE 2023-01-01 2023-12-31 08403673 frs-core:OtherResidualIntangibleAssets 2023-12-31 08403673 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 08403673 frs-core:OtherResidualIntangibleAssets 2022-12-31 08403673 frs-core:SharePremium 2023-12-31 08403673 frs-core:ShareCapital 2023-12-31 08403673 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 08403673 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08403673 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 08403673 frs-bus:SmallEntities 2023-01-01 2023-12-31 08403673 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08403673 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08403673 1 2023-01-01 2023-12-31 08403673 frs-core:UnlistedNon-exchangeTraded 2023-12-31 08403673 frs-core:UnlistedNon-exchangeTraded 2022-12-31 08403673 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2022-12-31 08403673 frs-core:AdditionsToInvestments frs-core:UnlistedNon-exchangeTraded 2023-12-31 08403673 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-12-31 08403673 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-12-31 08403673 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-12-31 08403673 frs-bus:Director1 2023-01-01 2023-12-31 08403673 frs-bus:Director2 2023-01-01 2023-12-31 08403673 frs-bus:Director3 2023-01-01 2023-12-31 08403673 frs-core:CurrentFinancialInstruments 1 2023-12-31 08403673 frs-core:CurrentFinancialInstruments 2 2023-12-31 08403673 frs-core:CurrentFinancialInstruments 3 2023-12-31 08403673 frs-core:CurrentFinancialInstruments 4 2023-12-31 08403673 frs-core:CurrentFinancialInstruments 8 2023-12-31 08403673 frs-countries:EnglandWales 2023-01-01 2023-12-31 08403673 2021-12-31 08403673 2022-12-31 08403673 2022-01-01 2022-12-31 08403673 frs-core:CurrentFinancialInstruments 2022-12-31 08403673 frs-core:Non-currentFinancialInstruments 2022-12-31 08403673 frs-core:SharePremium 2022-12-31 08403673 frs-core:ShareCapital 2022-12-31 08403673 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 08403673 frs-core:CurrentFinancialInstruments 1 2022-12-31 08403673 frs-core:CurrentFinancialInstruments 2 2022-12-31 08403673 frs-core:CurrentFinancialInstruments 3 2022-12-31 08403673 frs-core:CurrentFinancialInstruments 4 2022-12-31 08403673 frs-core:CurrentFinancialInstruments 8 2022-12-31
Registered number: 08403673
G Gaming Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08403673
2023 2022
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 8,593,057 6,735,805
Tangible Assets 5 46,012 20,452
Investments 6 17,381 2,661
8,656,450 6,758,918
CURRENT ASSETS
Debtors 7 817,568 564,315
Cash at bank and in hand 463,672 274,405
1,281,240 838,720
Creditors: Amounts Falling Due Within One Year 8 (6,436,400 ) (6,205,201 )
NET CURRENT ASSETS (LIABILITIES) (5,155,160 ) (5,366,481 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,501,290 1,392,437
Creditors: Amounts Falling Due After More Than One Year 86,141 (44,161 )
NET ASSETS 3,587,431 1,348,276
CAPITAL AND RESERVES
Called up share capital 9 203,645 203,645
Share premium account 996,413 996,413
Profit and Loss Account 2,387,373 148,218
SHAREHOLDERS' FUNDS 3,587,431 1,348,276
Page 1
Page 2
For the year ending 31 December 2023 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 Profit and Loss Account.
On behalf of the board
Mr Paul Dolman-Darrall
Director
08/08/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
G Gaming Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08403673 . The registered office is 124 City Road, London, EC1V 2NX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
G Gaming Limited is a private company limited by shares, incorporated in the United Kingdom and registered in England and Wales under the Companies Act 2006. The address of the registered office is given on the contents page and the principal activities of the company are set out in the Directors' report on page 2.
The financial statements have been prepared in accordance with FRS 102, the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland and Companies Act 2006.
These financial statements are prepared under the historical cost convention, and in accordance with Financial Reporting Standard 102 issued by the Financial Reporting Council.
The functional currency of the Company is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates. The presentation currency of these financial statements is pounds sterling.
As the company is a wholly owned subsidiary of Gluck Group Limited which on 31st December 2022 underwent a change of ultimate parent to Clean Seven Seas Foundation, a company registered in Gibraltar. The company meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the exemptions contained in FRS 102 paragraph 1.12. As a qualifying company the following exemptions under FRS 102 are taken; requirement to disclose reconciliation of number of shares outstanding at the beginning and end of period, requirement to disclose remuneration of key management personnel and financial instrument disclosures.
The company is exempt by virtue of Section 400 of the Companies Act 2006 from the requirements to prepare group financial statements on the grounds that it is a wholly owned subsidiary of Gluck Group Limited, a company registered in Gibraltar. These financial statements present information about the company as an individual undertaking and not about its group.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are costs relating to Trademarks. They are amortised to profit and loss account over its estimated economic life of ten years.
2.4. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are research and development costs incurred in the creation of ready made software. It is amortised to the profit and loss account over its estimated economic life of three years.
2.5. 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:
Fixtures & Fittings 33.3% straight line method
Computer Equipment 50% straight line method
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 28 (2022: 31)
28 31
4. Intangible Assets
Other Development Costs Intellectual Property Total
£ £ £ £
Cost
As at 1 January 2023 4,133 589,593 9,857,502 10,451,228
Additions - - 2,127,225 2,127,225
As at 31 December 2023 4,133 589,593 11,984,727 12,578,453
Amortisation
As at 1 January 2023 1,020 90,575 3,623,828 3,715,423
Provided during the period 334 196,531 73,108 269,973
As at 31 December 2023 1,354 287,106 3,696,936 3,985,396
Net Book Value
As at 31 December 2023 2,779 302,487 8,287,791 8,593,057
As at 1 January 2023 3,113 499,018 6,233,674 6,735,805
Expenses charged to intangible fixed assets are the full value of the research and development claim.
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5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 2,303 131,436 133,739
Additions 697 56,585 57,282
Disposals (125 ) (73,632 ) (73,757 )
As at 31 December 2023 2,875 114,389 117,264
Depreciation
As at 1 January 2023 1,998 111,289 113,287
Provided during the period 193 29,545 29,738
Disposals (28 ) (71,745 ) (71,773 )
As at 31 December 2023 2,163 69,089 71,252
Net Book Value
As at 31 December 2023 712 45,300 46,012
As at 1 January 2023 305 20,147 20,452
6. Investments
Unlisted
£
Cost
As at 1 January 2023 2,661
Additions 14,720
As at 31 December 2023 17,381
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 17,381
As at 1 January 2023 2,661
On 20th June 2019 Gamevy Limited invested £2,675 (€3,000) in the wholly owned subsidiary of Gluck Games SL incorporated in Spain this is revalued as at 31st December 2023 at £2,601 (2022: £2,661).
In 2023 work began on incorporating a subsidiary in India, Jerriverse Pvt Ltd, £14,780 represents initial costs relating to this set up.  The incorporation took place on 24th January 2024 with operations beginning July 2024.
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7. Debtors
2023 2022
as restated
£ £
Due within one year
Trade debtors 223,840 261,438
Prepayments and accrued income 300,460 253,107
Trade debtor losses 7,949 13,400
Futures Contract 261,169 -
VAT Debtor (Under 1 year) 6,206 19,579
Staff loans 4,323 8,680
Rent Security Deposits 1,439 434
Amounts owed by associates 12,182 7,677
817,568 564,315
Amounts owed by group companies are non-secured and repayable on demand.
8. Creditors: Amounts Falling Due Within One Year
2023 2022
as restated
£ £
Trade creditors 376,823 116,611
Corporation tax - 159,846
Other taxes and social security 67,457 117,014
Other creditors 7,068 7,071
Pension control 13,006 11,425
Accruals and deferred income 167,840 107,721
Amounts owed to parent undertaking 2,057,030 2,036,922
Amounts owed to associates 3,747,176 3,648,591
6,436,400 6,205,201
Amounts owed to group companies are non-secured and repayable on demand.
In May 2020 Gamevy successfully applied for the government assisted short term loan in response to Covid-19. This loan has now been extended to a 10 year repayment plan following the available holiday period. Deductions began in December 2021.
9. Share Capital
2023 2022
as restated
£ £
Allotted, Called up and fully paid 203,645 203,645
10. Post Balance Sheet Events
On 24th January 2024, Jerriverse Pvt Ltd, India, a 99.5% owned subsidiary of G Gaming Limited, was incorporated.  The business activity of this subsidiary is that of software development supplying the UK entity.
11. Ultimate Parent Undertaking and Controlling Party
The company's ultimate parent undertaking is Clean Seven Seas Foundation . Clean Seven Seas Foundation was incorporated in Gibraltar. The immediate controlling party is Gluck Group Limited who controls 100% of the shares of G Gaming Limited
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