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REGISTERED NUMBER: 05016371 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Inertiasoft Limited

Inertiasoft Limited (Registered number: 05016371)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Inertiasoft Limited

Company Information
for the year ended 31 December 2023







DIRECTORS: G Clark
G Denness





REGISTERED OFFICE: Inertia Game Studios
3 Prospect Point
Cambridge Business Park
Ely
Cambridgeshire
CB7 4EX





REGISTERED NUMBER: 05016371 (England and Wales)





ACCOUNTANTS: KPSK Accounts and Tax Limited
8 Manor Park
Church Road
Gt Barton
Bury St Edmunds
Suffolk
IP31 2QR

Inertiasoft Limited (Registered number: 05016371)

Balance Sheet
31 December 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 318,406 370,376

CURRENT ASSETS
Debtors 5 585,511 687,267
Cash at bank 947,763 952,950
1,533,274 1,640,217
CREDITORS
Amounts falling due within one year 6 337,012 267,722
NET CURRENT ASSETS 1,196,262 1,372,495
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,514,668

1,742,871

PROVISIONS FOR LIABILITIES 7 74,889 70,371
NET ASSETS 1,439,779 1,672,500

CAPITAL AND RESERVES
Called up share capital 8 20 20
Retained earnings 9 1,439,759 1,672,480
SHAREHOLDERS' FUNDS 1,439,779 1,672,500

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2024 and were signed on its behalf by:





G Denness - Director


Inertiasoft Limited (Registered number: 05016371)

Notes to the Financial Statements
for the year ended 31 December 2023


1. STATUTORY INFORMATION

Inertiasoft Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

Inertiasoft Limited (Registered number: 05016371)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 310,800 18,215 100,130 13,159 442,304
Additions - - - 4,639 4,639
Disposals - - (100,130 ) - (100,130 )
At 31 December 2023 310,800 18,215 - 17,798 346,813
DEPRECIATION
At 1 January 2023 - 13,888 50,066 7,974 71,928
Charge for year - 1,407 - 5,138 6,545
Eliminated on disposal - - (50,066 ) - (50,066 )
At 31 December 2023 - 15,295 - 13,112 28,407
NET BOOK VALUE
At 31 December 2023 310,800 2,920 - 4,686 318,406
At 31 December 2022 310,800 4,327 50,064 5,185 370,376

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Amounts owed by group undertakings 167,601 167,601
Other debtors 1,650 1,650
RBP loan 415,000 515,000
VAT 1,260 3,016
585,511 687,267

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Hire purchase contracts - 48,954
Tax 304,318 173,038
Social security and other taxes 10,839 -
Other creditors - 703
Inertiasoft Holdings loan 21,439 22,570
Directors' loan accounts - 22,107
Accrued expenses 416 350
337,012 267,722

7. PROVISIONS FOR LIABILITIES
31/12/23 31/12/22
£    £   
Deferred tax 74,889 70,371

Deferred
tax
£   
Balance at 1 January 2023 70,371
Deferred tax 4,518
Balance at 31 December 2023 74,889

Inertiasoft Limited (Registered number: 05016371)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/12/23 31/12/22
value: £    £   
20 Ordinary £1 20 20

9. RESERVES
Retained
earnings
£   

At 1 January 2023 1,672,480
Profit for the year 1,695,503
Dividends (1,928,224 )
At 31 December 2023 1,439,759

10. RELATED PARTY DISCLOSURES

Included in Debtors is £167,601 (2022: £167,601) owed to the company by BGG Entertainment Ltd a company that Mr G Clark and Mr G Denness are the joint shareholders in. This is an interest free loan.

11. ULTIMATE CONTROLLING PARTY

Mr G Denness and Mr G Clark are the ultimate controlling parties by virtue of their shareholding in Inertiasoft Holdings Limited.