IRIS Accounts Production v24.1.4.33 11976489 director 1.6.23 31.5.24 31.5.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh119764892023-05-31119764892024-05-31119764892023-06-012024-05-31119764892022-05-31119764892022-06-012023-05-31119764892023-05-3111976489ns15:EnglandWales2023-06-012024-05-3111976489ns14:PoundSterling2023-06-012024-05-3111976489ns10:Director12023-06-012024-05-3111976489ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3111976489ns10:SmallEntities2023-06-012024-05-3111976489ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3111976489ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3111976489ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3111976489ns10:FullAccounts2023-06-012024-05-311197648912023-06-012024-05-3111976489ns10:OrdinaryShareClass12023-06-012024-05-3111976489ns10:RegisteredOffice2023-06-012024-05-3111976489ns5:CurrentFinancialInstruments2024-05-3111976489ns5:CurrentFinancialInstruments2023-05-3111976489ns5:Non-currentFinancialInstruments2024-05-3111976489ns5:Non-currentFinancialInstruments2023-05-3111976489ns5:ShareCapital2024-05-3111976489ns5:ShareCapital2023-05-3111976489ns5:RetainedEarningsAccumulatedLosses2024-05-3111976489ns5:RetainedEarningsAccumulatedLosses2023-05-3111976489ns5:IntangibleAssetsOtherThanGoodwill2023-06-012024-05-3111976489ns5:FurnitureFittings2023-06-012024-05-3111976489ns5:MotorVehicles2023-06-012024-05-3111976489ns5:ComputerEquipment2023-06-012024-05-3111976489ns5:IntangibleAssetsOtherThanGoodwill2023-05-3111976489ns5:IntangibleAssetsOtherThanGoodwill2024-05-3111976489ns5:IntangibleAssetsOtherThanGoodwill2023-05-3111976489ns5:FurnitureFittings2023-05-3111976489ns5:MotorVehicles2023-05-3111976489ns5:ComputerEquipment2023-05-3111976489ns5:FurnitureFittings2024-05-3111976489ns5:MotorVehicles2024-05-3111976489ns5:ComputerEquipment2024-05-3111976489ns5:FurnitureFittings2023-05-3111976489ns5:MotorVehicles2023-05-3111976489ns5:ComputerEquipment2023-05-3111976489ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-05-3111976489ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3111976489ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-05-3111976489ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-05-3111976489ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-05-3111976489ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-05-3111976489ns10:OrdinaryShareClass12024-05-31119764891ns10:Director12023-05-31119764891ns10:Director12022-05-31119764891ns10:Director12023-06-012024-05-31119764891ns10:Director12022-06-012023-05-31119764891ns10:Director12024-05-31119764891ns10:Director12023-05-31
REGISTERED NUMBER: 11976489 (England and Wales)


















HUNGRY BEAR GAMING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






HUNGRY BEAR GAMING LIMITED (REGISTERED NUMBER: 11976489)

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


HUNGRY BEAR GAMING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: J D Chamberlain





REGISTERED OFFICE: Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
CF23 8RS





REGISTERED NUMBER: 11976489 (England and Wales)





ACCOUNTANTS: MHA (trading name of MacIntyre Hudson LLP)
Limited liability partnership in England & Wales
Registered number OC312313
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

HUNGRY BEAR GAMING LIMITED (REGISTERED NUMBER: 11976489)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 1,935,076 1,395,467
Tangible assets 5 68,787 94,250
2,003,863 1,489,717

CURRENT ASSETS
Debtors 6 354,408 194,273
Cash at bank and in hand 30,915 10,811
385,323 205,084
CREDITORS
Amounts falling due within one year 7 (723,948 ) (432,529 )
NET CURRENT LIABILITIES (338,625 ) (227,445 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,665,238

1,262,272

CREDITORS
Amounts falling due after more than one
year

8

(2,829,956

)

(3,063,042

)
NET LIABILITIES (1,164,718 ) (1,800,770 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (1,164,818 ) (1,800,870 )
SHAREHOLDERS' FUNDS (1,164,718 ) (1,800,770 )

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 director acknowledges his 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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 April 2025 and were signed by:




J D Chamberlain - Director


HUNGRY BEAR GAMING LIMITED (REGISTERED NUMBER: 11976489)

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


1. STATUTORY INFORMATION

Hungry Bear Gaming 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 company's functional and presentational currency in the financial statements is the Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

There have been no material departures from Financial Reporting Standard 102 1A.

GOING CONCERN
At 31 May 2024 the company had net liabilities of £1,164,718. However, the going concern basis of preparation of the financial statements is considered to be appropriate as the company is expected to continue to make profits in the future.

Turnover
Turnover represents amounts billed and billable in respect of game development services provided and revenue shares earned during the year excluding value added tax.

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. Software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and Fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Current tax
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the period and is calculated using the tax rates and laws that have been enacted or substantively enacted at 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.

HUNGRY BEAR GAMING LIMITED (REGISTERED NUMBER: 11976489)

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.

Unbilled work
Services provided to clients, which at the balance sheet date have not been billed, have been recognised as turnover. Turnover recognised in this manner is based on an assessment of the fair value of the services provided at that date as a proportion of the total value of the engagement.

Basic financial instruments
Basic financial instruments are recognised at amortised cost.

Grants
Government assistance towards revenue expenditure is included in the Profit and Loss Account in the period to which it relates.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 29 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2023 1,641,726
Additions 1,084,944
At 31 May 2024 2,726,670
AMORTISATION
At 1 June 2023 246,259
Charge for year 545,335
At 31 May 2024 791,594
NET BOOK VALUE
At 31 May 2024 1,935,076
At 31 May 2023 1,395,467

HUNGRY BEAR GAMING LIMITED (REGISTERED NUMBER: 11976489)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
Fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 26,013 65,716 52,007 143,736
Additions - - 299 299
At 31 May 2024 26,013 65,716 52,306 144,035
DEPRECIATION
At 1 June 2023 8,723 21,563 19,200 49,486
Charge for year 6,503 11,038 8,221 25,762
At 31 May 2024 15,226 32,601 27,421 75,248
NET BOOK VALUE
At 31 May 2024 10,787 33,115 24,885 68,787
At 31 May 2023 17,290 44,153 32,807 94,250

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,989 55,445
Unbilled work 183,170 47,210
Other debtors 31,755 6,900
Director's current account 73,645 45,040
VAT 15,287 15,464
Prepayments and accrued income 45,562 24,214
354,408 194,273

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Convertible loan 20,000 -
Hire purchase contracts 14,058 13,270
Trade creditors 160,155 101,351
Corporation tax 24,855 -
Social security and other taxes 339,138 285,653
Pension - 489
Accruals and deferred income 155,742 21,766
723,948 432,529

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-5 years 15,000 25,000
Convertible loan 2,790,972 3,000,000
Hire purchase contracts 23,984 38,042
2,829,956 3,063,042

HUNGRY BEAR GAMING LIMITED (REGISTERED NUMBER: 11976489)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 38,042 51,312

The hire purchase contracts are secured on the assets to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. OTHER FINANCIAL COMMITMENTS

The company had operating lease commitments relating to rent payable and equipment rental at the balance sheet date totalling £38,420 (2023 - £73,120).

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
J D Chamberlain
Balance outstanding at start of year 45,040 -
Amounts advanced 108,605 45,040
Amounts repaid (80,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 73,645 45,040

There are no fixed repayment terms and interest has been charged on the balance at a commercial rate.