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REGISTERED NUMBER: 05252507 (England and Wales)



















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

THUNDERFUL GAMES LIMITED

PREVIOUSLY KNOWN AS
RISING STAR GAMES LIMITED

THUNDERFUL GAMES LIMITED (REGISTERED NUMBER: 05252507)
PREVIOUSLY KNOWN AS RISING STAR GAMES LIMITED






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


THUNDERFUL GAMES LIMITED
PREVIOUSLY KNOWN AS RISING STAR GAMES LIMITED

COMPANY INFORMATION
for the Year Ended 31 DECEMBER 2023







DIRECTORS: Mrs K C Strangfeld
Mr M Walfisz
Miss S A Smith



REGISTERED OFFICE: 260 - 270
Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL



REGISTERED NUMBER: 05252507 (England and Wales)



AUDITORS: FKCA Limited
Statutory Auditor
260 - 270 Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL



BANKERS: Danske Bank
75 King William Street
London
EC4N 7DT

THUNDERFUL GAMES LIMITED (REGISTERED NUMBER: 05252507)
PREVIOUSLY KNOWN AS RISING STAR GAMES LIMITED

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 33,608 1,449

CURRENT ASSETS
Stocks 9,734 23,134
Debtors 5 684,121 1,042,110
Cash at bank 745,150 917,038
1,439,005 1,982,282
CREDITORS
Amounts falling due within one year 6 2,442,824 408,477
NET CURRENT (LIABILITIES)/ASSETS (1,003,819 ) 1,573,805
TOTAL ASSETS LESS CURRENT
LIABILITIES

(970,211

)

1,575,254

CAPITAL AND RESERVES
Called up share capital 6,240,853 6,240,853
Retained earnings (7,211,064 ) (4,665,599 )
SHAREHOLDERS' FUNDS (970,211 ) 1,575,254

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 24 September 2024 and were signed on its behalf by:





Mr M Walfisz - Director


THUNDERFUL GAMES LIMITED (REGISTERED NUMBER: 05252507)
PREVIOUSLY KNOWN AS RISING STAR GAMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2023

1. STATUTORY INFORMATION

Thunderful Games 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The directors have considered the financial health of the company, alongside group support available, and are confident that the company, at the date of signing, will continue as a going concern for the foreseeable future.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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

Management charges
Management charge income represents amounts recharged to related group companies for salary and other costs incurred, where the subsequent income generated from these costs are received through the related group company.

This recharged income is recognised in line with the period the costs relate to.

Tangible fixed assets
Tangible fixed assets are recognised at cost less depreciation.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

- Computer Equipment - Straight line, over 3 years.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

THUNDERFUL GAMES LIMITED (REGISTERED NUMBER: 05252507)
PREVIOUSLY KNOWN AS RISING STAR GAMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments " and Section 12 "Other Financial Instruments Issues" of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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 interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of
impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that
occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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 profit or loss.

If there is a decrease in the impairment loss arising from an event occuring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised.
The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference
shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

THUNDERFUL GAMES LIMITED (REGISTERED NUMBER: 05252507)
PREVIOUSLY KNOWN AS RISING STAR GAMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
business from suppliers. Amounts payable 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.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or
cancelled.

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.

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Minimum guarantees and developers costs
Minimum guarantees are a cost paid to the developer of a game title in order to licence in the PAL (Western Europe, Australia, New Zealand) territory. Typically, a minimum royalty rate per unit is stipulated, multiplied by a minimum number of units. If the minimum guarantee number of units are not sold, the full minimum guarantee remains due. Thunderful Games Limited will often pay these minimum guarantees in stage payments, with the majority of minimum guarantee cost paid prior to a game's release.

Developers costs relate to the costs incurred prior to a games release, these include but are not limited to, licencing, programming, language, development costs etc.

Amounts are capitalised at cost and are subject to annual impairment. Where an amount recognised will not give rise to a future inflow of economic benefit the asset is impaired and the corresponding entry is taken to the profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 6 ) .

THUNDERFUL GAMES LIMITED (REGISTERED NUMBER: 05252507)
PREVIOUSLY KNOWN AS RISING STAR GAMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023 2,173
Additions 36,518
At 31 December 2023 38,691
DEPRECIATION
At 1 January 2023 724
Charge for year 4,359
At 31 December 2023 5,083
NET BOOK VALUE
At 31 December 2023 33,608
At 31 December 2022 1,449

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 39,649 24,864
VAT 79,114 15,568
Accrued income 548,265 -
Prepayments 17,093 289,714
684,121 330,146

Amounts falling due after more than one year:
Deferred tax asset - 711,964

Aggregate amounts 684,121 1,042,110

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 1,828,329 353,571
Trade creditors 44,606 7,474
Taxation and social security 78,097 3,498
Other creditors 2,011 393
Accrued expenses 489,781 43,541
2,442,824 408,477

THUNDERFUL GAMES LIMITED (REGISTERED NUMBER: 05252507)
PREVIOUSLY KNOWN AS RISING STAR GAMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 6,974 -

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen Mason BSc FCA (Senior Statutory Auditor)
for and on behalf of FKCA Limited

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned companies within the group.

10. ULTIMATE CONTROLLING PARTY

The ultimate holding parent company and controlling party is Thunderful Group AB, a company incorporated in Sweden and are the smallest and largest undertaking to include the results of Thunderful Games Limited. The financial statements of Thunderful Group AB may be obtained from Kvarnbergsgatan 2, 411 05 Gothenburg, Sweden and is also published on
https://thunderfulgroup.com/investor-relations/reports-presentations-and-audiocasts