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REGISTERED NUMBER: SC505990 (Scotland)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

METHOD GAMING LIMITED

METHOD GAMING LIMITED (REGISTERED NUMBER: SC505990)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


METHOD GAMING LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2024







DIRECTORS: Mr S A McMillan
Mr S Steffens





REGISTERED OFFICE: 272 Bath Street
Glasgow
G2 4JR





REGISTERED NUMBER: SC505990 (Scotland)





ACCOUNTANTS: Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX

METHOD GAMING LIMITED (REGISTERED NUMBER: SC505990)

BALANCE SHEET
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 55,770 63,737
Tangible assets 5 1,444 14,934
57,214 78,671

CURRENT ASSETS
Stocks - 10,076
Debtors 6 174,108 337,269
Cash at bank 43,023 44,010
217,131 391,355
CREDITORS
Amounts falling due within one year 7 73,434 214,136
NET CURRENT ASSETS 143,697 177,219
TOTAL ASSETS LESS CURRENT
LIABILITIES

200,911

255,890

PROVISIONS FOR LIABILITIES 691 -
NET ASSETS 200,220 255,890

CAPITAL AND RESERVES
Called up share capital 8 129 129
Retained earnings 200,091 255,761
SHAREHOLDERS' FUNDS 200,220 255,890

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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 27 February 2025 and were signed on its behalf by:





Mr S A McMillan - Director


METHOD GAMING LIMITED (REGISTERED NUMBER: SC505990)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Method Gaming Limited is a private company, limited by shares , registered in Scotland. 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.

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

Turnover from the sale of goods and merchandise is recognised when the significant risks and ownership of the goods have passed to the buyer (usually on despatch of the goods), the amount of revenue can be measured reliably, it is probable that economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Turnover from the provision of services and receivable under media contract is recognised upon completion of the underlying service. Where amounts are recoverable under media contract at the Balance Sheet date, turnover is recognised to the extent of the amount recoverable based on a reliable estimate and is included in accrued income . Where payment is received in advance of services being rendered, the amounts are recognised as Deferred Income on the Balance Sheet.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
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 5 years

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

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

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

Financial assets are derecognised when the contractual rights to cash flows from the asset expire or are settled or when the company transfers significant risk and reward of ownership to another entity.

Basic financial liabilities
Basic financial liabilities which include trade and other creditors are recognised at transaction price including transaction cost.

Financial liabilities are derecognised when the company's contractual obligations are discharged.

Research and development
Expenditure on research and development is written off ito profit and loss in the year in which it is incurred.

METHOD GAMING LIMITED (REGISTERED NUMBER: SC505990)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 June 2023
and 31 May 2024 91,888
AMORTISATION
At 1 June 2023 28,151
Amortisation for year 7,967
At 31 May 2024 36,118
NET BOOK VALUE
At 31 May 2024 55,770
At 31 May 2023 63,737

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 June 2023 37,372
Additions 4,335
Disposals (33,437 )
At 31 May 2024 8,270
DEPRECIATION
At 1 June 2023 25,089
Charge for year 1,196
Eliminated on disposal (19,459 )
At 31 May 2024 6,826
NET BOOK VALUE
At 31 May 2024 1,444
At 31 May 2023 12,283

METHOD GAMING LIMITED (REGISTERED NUMBER: SC505990)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 45,137 142,613
Other debtors - 57,720
Tax 25,082 989
Prepayments and accrued income 103,889 135,947
174,108 337,269

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 5,289 25,757
Tax - 5,638
Social security and other taxes - 4,298
VAT 2,304 12,372
Directors' current accounts 624 7,971
Accrued expenses 65,217 158,100
73,434 214,136

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
12,659 Ordinary 0.01 127 127
160 B Ordinary Shares 0.01 2 2
129 129

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
Mr S A McMillan
Balance outstanding at start of year (6,613 ) (6,613 )
Amounts advanced 6,613 -
Amounts repaid (312 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (312 ) (6,613 )

Mr S Steffens
Balance outstanding at start of year (1,358 ) (1,358 )
Amounts advanced 1,358 -
Amounts repaid (312 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (312 ) (1,358 )

These amounts bear no interest and have no fixed repayment terms.

METHOD GAMING LIMITED (REGISTERED NUMBER: SC505990)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

10. RELATED PARTY DISCLOSURES

Method Gaming LLC is a company under common control of a director. At the end of the year Method Gaming LLC owed Method Gaming £nil. (2023 £49,652) The amount of £49,652 was written off in the year.