Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Rhodri Giles Davey 29/03/2023 25 November 2024 The principal activity of the Company during the financial year was that of a holding of an investment property and providing management services. 09706776 2024-03-31 09706776 bus:Director1 2024-03-31 09706776 2023-03-31 09706776 core:CurrentFinancialInstruments 2024-03-31 09706776 core:CurrentFinancialInstruments 2023-03-31 09706776 core:ShareCapital 2024-03-31 09706776 core:ShareCapital 2023-03-31 09706776 core:RetainedEarningsAccumulatedLosses 2024-03-31 09706776 core:RetainedEarningsAccumulatedLosses 2023-03-31 09706776 core:CostValuation 2023-03-31 09706776 core:CostValuation 2024-03-31 09706776 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2024-03-31 09706776 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2023-03-31 09706776 2022-03-31 09706776 bus:OrdinaryShareClass1 2024-03-31 09706776 bus:OrdinaryShareClass2 2024-03-31 09706776 2023-04-01 2024-03-31 09706776 bus:FilletedAccounts 2023-04-01 2024-03-31 09706776 bus:SmallEntities 2023-04-01 2024-03-31 09706776 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09706776 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09706776 bus:Director1 2023-04-01 2024-03-31 09706776 2022-04-01 2023-03-31 09706776 core:CurrentFinancialInstruments 2023-04-01 2024-03-31 09706776 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 09706776 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 09706776 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 09706776 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09706776 (England and Wales)

GAME CHANGE LEGAL LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

GAME CHANGE LEGAL LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

GAME CHANGE LEGAL LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
GAME CHANGE LEGAL LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 434,785 434,785
Investments 4 1 1
434,786 434,786
Current assets
Debtors 5 100,143 393,957
Cash at bank and in hand 535,452 181,839
635,595 575,796
Creditors: amounts falling due within one year 6 ( 215,161) ( 324,466)
Net current assets 420,434 251,330
Total assets less current liabilities 855,220 686,116
Provision for liabilities 7 ( 9,196) ( 12,101)
Net assets 846,024 674,015
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 845,924 673,915
Total shareholders' funds 846,024 674,015

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

Director's responsibilities:

The financial statements of Game Change Legal Limited (registered number: 09706776) were approved and authorised for issue by the Director on 25 November 2024. They were signed on its behalf by:

Rhodri Giles Davey
Director
GAME CHANGE LEGAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
GAME CHANGE LEGAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 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

Game Change Legal 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 2nd Floor Stratus House Emperor Way, Exeter Business Park, Exeter, EX1 3QS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has 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.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

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 and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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 Statement of Financial Position 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.

Leases


The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Impairment of assets

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

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) 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 Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Investment property

Investment property
£
Valuation
As at 01 April 2023 434,785
As at 31 March 2024 434,785

The 2024 valuations were made by the director, on an open market value for existing basis.

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 April 2023 1
At 31 March 2024 1
Carrying value at 31 March 2024 1
Carrying value at 31 March 2023 1

5. Debtors

2024 2023
£ £
Amounts owed by director 0 292,642
Corporation tax 99,410 99,410
Other debtors 733 1,905
100,143 393,957

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 2,663 0
Amounts owed to own subsidiaries 193,684 205,281
Accruals 5,376 2,520
Corporation tax 2,412 116,665
Other creditors 11,026 0
215,161 324,466

There are no amounts included above in respect of which any security has been given by the small entity.

7. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 12,101) ( 12,101)
Credited to the Statement of Income and Retained Earnings 2,905 0
At the end of financial year ( 9,196) ( 12,101)

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
90 A ordinary shares of £ 1.00 each 90 90
10 B Ordinary shares of £ 1.00 each 10 10
100 100

9. Related party transactions

During the year, an previous Director's loan account brought forward of £292,642 was settled. Interest of £6,422 (2023: £5,681) was charged on the balance during the year.

At the year end, a shareholder owed £733 (2023: £1,905) to the company.

As the company is the parent company of a wholly owned subsidiary, the company has taken advantage of the exemption contained in s. 1AC.35 of FRS102, and not disclosed transactions or balances with the wholly owned subsidiary that forms the group.