Silverfin false false 31/03/2024 01/10/2022 31/03/2024 D Grabiner 01/11/2020 J King 01/09/2020 08 August 2024 The principal activity of Gameface XYZ Ltd ('the company') is that of competitive gaming awards and the provision of information services. 12851483 2024-03-31 12851483 bus:Director1 2024-03-31 12851483 bus:Director2 2024-03-31 12851483 core:CurrentFinancialInstruments 2024-03-31 12851483 core:CurrentFinancialInstruments 2022-09-30 12851483 2022-09-30 12851483 core:ShareCapital 2024-03-31 12851483 core:ShareCapital 2022-09-30 12851483 core:SharePremium 2024-03-31 12851483 core:SharePremium 2022-09-30 12851483 core:RetainedEarningsAccumulatedLosses 2024-03-31 12851483 core:RetainedEarningsAccumulatedLosses 2022-09-30 12851483 bus:OrdinaryShareClass1 2024-03-31 12851483 2022-10-01 2024-03-31 12851483 bus:FilletedAccounts 2022-10-01 2024-03-31 12851483 bus:SmallEntities 2022-10-01 2024-03-31 12851483 bus:AuditExemptWithAccountantsReport 2022-10-01 2024-03-31 12851483 bus:PrivateLimitedCompanyLtd 2022-10-01 2024-03-31 12851483 bus:Director1 2022-10-01 2024-03-31 12851483 bus:Director2 2022-10-01 2024-03-31 12851483 2021-10-01 2022-09-30 12851483 bus:OrdinaryShareClass1 2022-10-01 2024-03-31 12851483 bus:OrdinaryShareClass1 2021-10-01 2022-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12851483 (England and Wales)

GAMEFACE XYZ LTD

Unaudited Financial Statements
For the financial period from 01 October 2022 to 31 March 2024
Pages for filing with the registrar

GAMEFACE XYZ LTD

Unaudited Financial Statements

For the financial period from 01 October 2022 to 31 March 2024

Contents

GAMEFACE XYZ LTD

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
GAMEFACE XYZ LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
31.03.2024 30.09.2022
£ £
Current assets
Debtors 3 424 42
Cash at bank and in hand 25,621 28,334
26,045 28,376
Creditors: amounts falling due within one year 4 ( 1,419) ( 1,310)
Net current assets 24,626 27,066
Total assets less current liabilities 24,626 27,066
Net assets 24,626 27,066
Capital and reserves
Called-up share capital 5 4 4
Share premium account 74,997 74,997
Profit and loss account ( 50,375 ) ( 47,935 )
Total shareholders' funds 24,626 27,066

For the financial period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Gameface XYZ Ltd (registered number: 12851483) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

D Grabiner
Director

08 August 2024

GAMEFACE XYZ LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 October 2022 to 31 March 2024
GAMEFACE XYZ LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 October 2022 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Gameface XYZ Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 17 Portland Place, London, W1B 1PU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The reporting period length has been extended to 31 March 2024, as such the prior year figures cannot be used as a basis for comparison.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

Period from
01.10.2022 to
31.03.2024
Year ended
30.09.2022
Number Number
Monthly average number of persons employed by the company during the period, including directors 2 2

3. Debtors

31.03.2024 30.09.2022
£ £
Other debtors 424 42

4. Creditors: amounts falling due within one year

31.03.2024 30.09.2022
£ £
Trade creditors 444 385
Other creditors 975 925
1,419 1,310

5. Called-up share capital

31.03.2024 30.09.2022
£ £
Allotted, called-up and fully-paid
400 Ordinary shares of £ 0.01 each 4 4