Registered number
03128211
Gamehouse Ltd
Filleted Accounts
28 February 2025
Gamehouse Ltd
Registered number: 03128211
Balance Sheet
as at 28 February 2025
Notes 2025 2024
£ £
Fixed assets
Intangible assets 3 90,694 105,810
Tangible assets 4 5,374 6,830
96,068 112,640
Current assets
Stocks 11,036 8,563
Debtors 5 - 20,318
Cash at bank and in hand 20,410 31,413
31,446 60,294
Creditors: amounts falling due within one year 6 (335,897) (323,473)
Net current liabilities (304,451) (263,179)
Total assets less current liabilities (208,383) (150,539)
Creditors: amounts falling due after more than one year 7 (3,004) (13,136)
Net liabilities (211,387) (163,675)
Capital and reserves
Called up share capital 2 2
Profit and loss account (211,389) (163,677)
Shareholders' funds (211,387) (163,675)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr P Nolan
Director
Approved by the board on 2 May 2025
Gamehouse Ltd
Notes to the Accounts
for the year ended 28 February 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings 20% reducing balance
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 12 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 March 2024 105,810
At 28 February 2025 105,810
Amortisation
Provided during the year 15,116
At 28 February 2025 15,116
Net book value
At 28 February 2025 90,694
At 29 February 2024 105,810
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 March 2024 130,665 66,870 197,535
At 28 February 2025 130,665 66,870 197,535
Depreciation
At 1 March 2024 125,639 65,066 190,705
Charge for the year 1,005 451 1,456
At 28 February 2025 126,644 65,517 192,161
Net book value
At 28 February 2025 4,021 1,353 5,374
At 29 February 2024 5,026 1,804 6,830
5 Debtors 2025 2024
£ £
Debtors - 20,318
6 Creditors: amounts falling due within one year 2025 2024
£ £
Loans 142,333 110,000
Trade creditors 18,987 35,087
Directors account 147,479 149,797
Taxation and social security costs 25,363 27,103
Other creditors 1,735 1,486
335,897 323,473
7 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 3,004 13,136
8 Other information
Gamehouse Ltd is a private company limited by shares and incorporated in England. Its registered office is:
95A Mitcham Lane,
London
SW16 6LY
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