Silverfin false false 30/09/2024 01/10/2023 30/09/2024 Max Scott-Slade 10/09/2013 Maxwell Anthony Holland Scott-Slade 10/09/2013 Rebecca Jade Warner-Perry 21/05/2024 11 November 2024 The principal activity of company is the developing and publishing of computer games . 08683349 2024-09-30 08683349 bus:Director1 2024-09-30 08683349 bus:Director2 2024-09-30 08683349 bus:Director3 2024-09-30 08683349 2023-09-30 08683349 core:CurrentFinancialInstruments 2024-09-30 08683349 core:CurrentFinancialInstruments 2023-09-30 08683349 core:Non-currentFinancialInstruments 2024-09-30 08683349 core:Non-currentFinancialInstruments 2023-09-30 08683349 core:ShareCapital 2024-09-30 08683349 core:ShareCapital 2023-09-30 08683349 core:RetainedEarningsAccumulatedLosses 2024-09-30 08683349 core:RetainedEarningsAccumulatedLosses 2023-09-30 08683349 core:OtherPropertyPlantEquipment 2023-09-30 08683349 core:OtherPropertyPlantEquipment 2024-09-30 08683349 core:CostValuation 2023-09-30 08683349 core:AdditionsToInvestments 2024-09-30 08683349 core:DisposalsRepaymentsInvestments 2024-09-30 08683349 core:CostValuation 2024-09-30 08683349 2023-10-01 2024-09-30 08683349 bus:FilletedAccounts 2023-10-01 2024-09-30 08683349 bus:SmallEntities 2023-10-01 2024-09-30 08683349 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 08683349 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 08683349 bus:Director1 2023-10-01 2024-09-30 08683349 bus:Director2 2023-10-01 2024-09-30 08683349 bus:Director3 2023-10-01 2024-09-30 08683349 core:OtherPropertyPlantEquipment core:BottomRangeValue 2023-10-01 2024-09-30 08683349 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-10-01 2024-09-30 08683349 2022-10-01 2023-09-30 08683349 core:OtherPropertyPlantEquipment 2023-10-01 2024-09-30 08683349 core:CurrentFinancialInstruments 2023-10-01 2024-09-30 08683349 core:Non-currentFinancialInstruments 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Company No: 08683349 (England and Wales)

GLITCHERS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

GLITCHERS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024

Contents

GLITCHERS LIMITED

BALANCE SHEET

AS AT 30 SEPTEMBER 2024
GLITCHERS LIMITED

BALANCE SHEET (continued)

AS AT 30 SEPTEMBER 2024
Note 2024 2023
£ £
Restated - note 2
Fixed assets
Tangible assets 4 11,939 11,869
Investments 5 100 41,569
12,039 53,438
Current assets
Debtors 6 123,835 12,580
Cash at bank and in hand 20,151 100,847
143,986 113,427
Creditors: amounts falling due within one year 7 ( 37,619) ( 88,644)
Net current assets 106,367 24,783
Total assets less current liabilities 118,406 78,221
Creditors: amounts falling due after more than one year 8 ( 12,386) ( 21,104)
Provision for liabilities 0 ( 678)
Net assets 106,020 56,439
Capital and reserves
Called-up share capital 56 56
Profit and loss account 105,964 56,383
Total shareholder's funds 106,020 56,439

For the financial year ending 30 September 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 Glitchers Limited (registered number: 08683349) were approved and authorised for issue by the Board of Directors on 11 November 2024. They were signed on its behalf by:

Rebecca Jade Warner-Perry
Director
GLITCHERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
GLITCHERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
1. Accounting policies

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

General information and basis of accounting

Glitchers Limited (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 C/O Johnston Carmichael Birchin Court, 20 Birchin Lane, London, EC3V 9DU, England, 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 £.

Prior year adjustment

Prior period errors have been corrected in the financial statements for the year to 30 September 2023. Information in relation to the correction and restatement of opening balances of current assets and the Statement of Income and Retained Earnings are included at note 2.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

Revenue is recognised when the company has entitlement to the income in exchange for the provision of services.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 2 - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, 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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Prior year adjustment

As previously reported Adjustment As restated
Year ended 30 September 2023 £ £ £
Fixed Assets 3,569 8,300 11,869
Capital an Reserves - Retained Earnings 48,083 8,300 56,383
Profit and Loss - Depreciation 16,507 (8,300) 8,207

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 4

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 October 2023 44,752 44,752
Additions 9,951 9,951
Disposals ( 18,357) ( 18,357)
At 30 September 2024 36,346 36,346
Accumulated depreciation
At 01 October 2023 32,883 32,883
Charge for the financial year 10,187 10,187
Disposals ( 18,663) ( 18,663)
At 30 September 2024 24,407 24,407
Net book value
At 30 September 2024 11,939 11,939
At 30 September 2023 11,869 11,869

5. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 October 2023 41,569 41,569
Additions 100 100
Disposals ( 41,569) ( 41,569)
At 30 September 2024 100 100
Carrying value at 30 September 2024 100 100
Carrying value at 30 September 2023 41,569 41,569

6. Debtors

2024 2023
£ £
Trade debtors 5,000 4,199
Amounts owed by Group undertakings 400 0
Corporation tax 116,001 0
Other debtors 2,434 8,381
123,835 12,580

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,333 10,000
Trade creditors 52 0
Taxation and social security 14,980 60,091
Other creditors 12,254 18,553
37,619 88,644

Included within Bank loans are amounts advanced to the company under the Bounce Back Loan Scheme. This loan is fully backed by a government guarantee.

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 12,386 21,104

Included within Bank loans are amounts advanced to the company under the Bounce Back Loan Scheme. This loan is fully backed by a government guarantee.