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COMPANY REGISTRATION NUMBER: 15644990
1TK Games Ltd
Filleted Unaudited Financial Statements
31 December 2024
1TK Games Ltd
Financial Statements
Period from 14 April 2024 to 31 December 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
1TK Games Ltd
Statement of Financial Position
31 December 2024
31 Dec 24
Note
£
Fixed assets
Tangible assets
6
1,336
Investments
7
1
-------
1,337
Current assets
Debtors
8
3,621
Cash at bank and in hand
754,353
---------
757,974
Creditors: amounts falling due within one year
9
10,713
---------
Net current assets
747,261
---------
Total assets less current liabilities
748,598
---------
Net assets
748,598
---------
Capital and reserves
Called up share capital
16
Share premium account
999,113
Profit and loss account
( 250,531)
---------
Shareholders funds
748,598
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
1TK Games Ltd
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 29 May 2025 , and are signed on behalf of the board by:
M Vallone
Director
Company registration number: 15644990
1TK Games Ltd
Notes to the Financial Statements
Period from 14 April 2024 to 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 27 New Dover Road, Canterbury, Kent, CT1 3DN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 399 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
During the period, average employee numbers were 1.
5. Share capital
The nominal value of the share capital is £0.01 per share, and there are 1,622 shares in issue. The share capital in the accounts reflects this, however due to rounding there may be some small differences.
6. Tangible assets
Equipment
£
Cost
At 14 April 2024
Additions
1,782
-------
At 31 December 2024
1,782
-------
Depreciation
At 14 April 2024
Charge for the period
446
-------
At 31 December 2024
446
-------
Carrying amount
At 31 December 2024
1,336
-------
7. Investments
Shares in group undertakings
£
Cost
At 14 April 2024
Additions
1
----
At 31 December 2024
1
----
Impairment
At 14 April 2024 and 31 December 2024
----
Carrying amount
At 31 December 2024
1
----
The above investment relates to the 100% shareholding of 1TK Games Development Limited, a company registered at 27 New Dover Road, Canterbury, Kent, CT1 3DN.
8. Debtors
31 Dec 24
£
Other debtors
3,621
-------
Within trade debtors, there is a balance due from the company's subsidiary company and also a corresponding trade creditor and therefore the balances have been netted off.
9. Creditors: amounts falling due within one year
31 Dec 24
£
Trade creditors
7,933
Other creditors
2,780
--------
10,713
--------
10. Related party transactions
At the year end, the company owed a director £30.