Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-3117falsefalse2024-01-01No description of principal activity17truetrue 02882180 2024-01-01 2024-12-31 02882180 2023-01-01 2023-12-31 02882180 2024-12-31 02882180 2023-12-31 02882180 c:CompanySecretary1 2024-01-01 2024-12-31 02882180 c:Director2 2024-01-01 2024-12-31 02882180 c:Director3 2024-01-01 2024-12-31 02882180 c:RegisteredOffice 2024-01-01 2024-12-31 02882180 d:PlantMachinery 2024-01-01 2024-12-31 02882180 d:PlantMachinery 2024-12-31 02882180 d:PlantMachinery 2023-12-31 02882180 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02882180 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 02882180 d:MotorVehicles 2024-01-01 2024-12-31 02882180 d:MotorVehicles 2024-12-31 02882180 d:MotorVehicles 2023-12-31 02882180 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02882180 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 02882180 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02882180 d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 02882180 d:PatentsTrademarksLicencesConcessionsSimilar 2024-01-01 2024-12-31 02882180 d:PatentsTrademarksLicencesConcessionsSimilar 2024-12-31 02882180 d:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 02882180 d:Goodwill 2024-01-01 2024-12-31 02882180 d:Goodwill 2024-12-31 02882180 d:Goodwill 2023-12-31 02882180 d:CurrentFinancialInstruments 2024-12-31 02882180 d:CurrentFinancialInstruments 2023-12-31 02882180 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 02882180 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 02882180 d:ShareCapital 2024-12-31 02882180 d:ShareCapital 2023-12-31 02882180 d:RetainedEarningsAccumulatedLosses 2024-12-31 02882180 d:RetainedEarningsAccumulatedLosses 2023-12-31 02882180 c:FRS102 2024-01-01 2024-12-31 02882180 c:Audited 2024-01-01 2024-12-31 02882180 c:FullAccounts 2024-01-01 2024-12-31 02882180 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02882180 d:WithinOneYear 2024-12-31 02882180 d:WithinOneYear 2023-12-31 02882180 d:BetweenOneFiveYears 2024-12-31 02882180 d:BetweenOneFiveYears 2023-12-31 02882180 d:HirePurchaseContracts d:WithinOneYear 2024-12-31 02882180 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 02882180 c:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 02882180 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-12-31 02882180 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-12-31 02882180 d:Goodwill d:OwnedIntangibleAssets 2024-01-01 2024-12-31 02882180 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2024-01-01 2024-12-31 02882180 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure
Registered number: 02882180







UNIVERSITY GAMES UK LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
UNIVERSITY GAMES UK LIMITED
 

COMPANY INFORMATION


DIRECTORS
R. D. Wells 
A. R. Moog 




COMPANY SECRETARY
D. Lazarus



REGISTERED NUMBER
02882180



REGISTERED OFFICE
4 The Lanterns
16 Melbourn Street

Royston

Hertfordshire

SG8 7BX




INDEPENDENT AUDITORS
Wilder Coe Ltd

Chartered Accountants & Statutory Auditors

1st Floor Sackville House

143-149 Fenchurch Street

London

EC3M 6BL





 
UNIVERSITY GAMES UK LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 10


 
UNIVERSITY GAMES UK LIMITED
REGISTERED NUMBER: 02882180

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible fixed assets
 5 
129,019
154,819

Tangible fixed assets
 6 
16,373
30,506

  
145,392
185,325

Current assets
  

Stocks
 7 
3,249,055
3,328,912

Debtors
 8 
4,168,749
2,675,621

Cash at bank and in hand
  
1,402,692
2,564,647

  
8,820,496
8,569,180

Creditors: amounts falling due within one year
 9 
(1,194,614)
(1,572,735)

Net current assets
  
 
 
7,625,882
 
 
6,996,445

Net assets
  
7,771,274
7,181,770


Capital and reserves
  

Allotted, called up and fully paid share capital
  
2
2

Profit and loss account
  
7,771,272
7,181,768

Equity shareholders' funds
  
7,771,274
7,181,770


Page 1

 
UNIVERSITY GAMES UK LIMITED
REGISTERED NUMBER: 02882180

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 March 2025.




R. D. Wells
Director
The notes on pages 10 to 18 form part of these financial statements.

Page 2

 
UNIVERSITY GAMES UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


GENERAL INFORMATION

University Games UK Limited (company number: 02882180), having its registered office and principal place of business at 4 The Lanterns, 16 Melbourn Street, Royston, Hertfordshire, SG8 7BX is a private limited company incorporated in England and Wales.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:

  
2.2

STATEMENT OF CASH FLOWS

The Company has taken advantage of the exemption in Financial Reporting Standard 102, Section 1A.7 from the requirement to produce a Statement of Cash Flows on the grounds that it is a small company. 

 
2.3

TURNOVER

Turnover relates to the manufacture and sale of board games and puzzles and is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Page 3

 
UNIVERSITY GAMES UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Intellectual property rights
-
20%
straight-line
Goodwill
-
10%
straight-line

 
2.5

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
straight-line
Motor vehicles
-
25%
straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

 
2.6

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each Balance Sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of Income and Retained Earnings.

 
2.7

DEBTORS

Short-term debtors are measured at transaction price, less any impairment.

 
2.8

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

Page 4

 
UNIVERSITY GAMES UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.9

CREDITORS

Short-term creditors are measured at the transaction price.

 
2.10

FINANCIAL INSTRUMENTS


The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

 
2.11

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is British Pound Sterling (GBP).

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period-end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Income and Retained Earnings.

 
2.12

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 that the amount charged is at a constant rate on the carrying amount.

 
2.13

PENSIONS

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
UNIVERSITY GAMES UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.14

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight-line basis over the lease term.

 
2.15

TAXATION

Tax is recognised in the Statement of Income and Retained Earnings except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.



3.



JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Preparation of the financial statements requires management to make significant judgements estimates and assumptions that affect the amounts reported for assets and liabilities as at the statement of financial position date and the amounts reported for revenues and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those estimates.
The following judgement had a significant effect on the amounts recognised in the financial statements:
Stock provisions
The Company reviews it's product lines and makes a provision against stock items which are slow moving and obsolete, in order to reduce the value to their expected sales value.
Bad debt provisions
Management have made a provision against debtors due greater than 90 days, which are yet to be received. This has been reviewed to exclude significant customers that management believe the balances due to be recoverable.


4.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 17 (2023 - 17).

Page 6

 
UNIVERSITY GAMES UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


INTANGIBLE ASSETS




Intellectual property rights
Goodwill
Total

£
£
£



COST


At 1 January 2024 and 31 December 2024

344,270
258,019
602,289



AMORTISATION


At 1 January 2024
344,270
103,200
447,470


Charge for the year
-
25,800
25,800



At 31 December 2024

344,270
129,000
473,270



NET BOOK VALUE



At 31 December 2024
-
129,019
129,019



At 31 December 2023
-
154,819
154,819



Page 7

 
UNIVERSITY GAMES UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


TANGIBLE FIXED ASSETS





Plant and machinery
Motor vehicles
Total

£
£
£



COST


At 1 January 2024
33,349
108,405
141,754


Additions
4,498
-
4,498


Disposals
-
(21,920)
(21,920)



At 31 December 2024

37,847
86,485
124,332



DEPRECIATION


At 1 January 2024
21,161
90,087
111,248


Charge for the year on owned assets
7,958
5,675
13,633


Charge for the year on financed assets
-
4,998
4,998


Disposals
-
(21,920)
(21,920)



At 31 December 2024

29,119
78,840
107,959



NET BOOK VALUE



At 31 December 2024
8,728
7,645
16,373



At 31 December 2023
12,188
18,318
30,506

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
-
7,913

Page 8

 
UNIVERSITY GAMES UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


STOCKS

2024
2023
£
£

Finished goods and goods for resale
3,249,055
3,328,912



8.


DEBTORS

2024
2023
£
£


Trade debtors
2,135,391
2,233,341

Amounts owed by group undertakings
1,633,392
-

Other debtors
7,000
7,750

Prepayments and accrued income
392,966
434,530

4,168,749
2,675,621



9.


CREDITORS: Amounts falling due within one year

2024
2023
£
£

Trade creditors
301,873
596,442

Corporation tax
204,466
200,485

Other taxation and social security
252,391
285,092

Obligations under finance lease and hire purchase contracts
-
3,498

Accruals and deferred income
435,884
487,218

1,194,614
1,572,735


The bank overdraft is secured by a fixed and floating charge over all assets of the Company and a guarantee of £1,000,000 from University Games Corporation, the parent company of University Games UK Limited.
The net obligation under finance lease and hire purchase contracts are secured on the assets to which they relate.


10.


HIRE PURCHASE AND FINANCE LEASES


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
-
3,498

Page 9

 
UNIVERSITY GAMES UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


COMMITMENTS UNDER OPERATING LEASES

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
47,500
46,250

Later than 1 year and not later than 5 years
23,750
71,250

71,250
117,500


12.


RELATED PARTY TRANSACTIONS

The Company has taken advantage of Section 33.1A of FRS 102 in not disclosing transactions between wholly-owned members of a group.


13.


CONSOLIDATED PARENT UNDERTAKING

The parent company of University Games UK Limited is University Games Corporation, a company incorporated in USA.
The Group in which the results of the Company are consolidated is that headed by University Games Corporation, a company incorporated in California, United States of America, for which the consolidated accounts may be obtained from 2030 Harrison Street, San Francisco, CA 94110 USA.


14.


AUDITORS' INFORMATION

The Company was subject to an audit for the year ended 31 December 2024. The audit report was issued with an unqualified opinion and signed on 13 March 2025 by Robert Bradman BA CA (Senior Statutory Auditor) on behalf of Wilder Coe Ltd.


Page 10