Company No:
Contents
| Directors | C Reynolds |
| H Reynolds |
| Registered office | 88 Ditchling Road |
| Brighton | |
| BN1 4SG | |
| United Kingdom |
| Company number | 09793248 (England and Wales) |
| Accountant | Kreston Reeves LLP |
| Plus X Innovation Hub | |
| Lewes Road | |
| Brighton | |
| East Sussex | |
| BN2 4GL |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.
It is your duty to ensure that Gamely Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Gamely Ltd. You consider that Gamely Ltd is exempt from the statutory audit requirement for the financial year.
We have not been instructed to carry out an audit or a review of the financial statements of Gamely Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Chartered Accountants
Lewes Road
Brighton
East Sussex
BN2 4GL
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Intangible assets | 3 |
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| Tangible assets | 4 |
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| 40,843 | 47,381 | |||
| Current assets | ||||
| Stocks | 5 |
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| Debtors | 6 |
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| Cash at bank and in hand |
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| 826,427 | 680,824 | |||
| Creditors: amounts falling due within one year | 7 | (
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| Net current assets | 588,047 | 438,266 | ||
| Total assets less current liabilities | 628,890 | 485,647 | ||
| Creditors: amounts falling due after more than one year | 8, 12 |
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| Provision for liabilities | 9 |
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Gamely Ltd (registered number:
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H Reynolds
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Gamely Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 88 Ditchling Road, Brighton, BN1 4SG, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest whole pound (£).
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise. No exchange differences arose on gains or losses on non-monetary items during the year.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.
Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
| Trademarks, patents and licences |
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| Computer equipment |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Trademarks, patents and licences |
Total | ||
| £ | £ | ||
| Cost | |||
| At 01 October 2023 |
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| Additions |
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| At 30 September 2024 |
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| Accumulated amortisation | |||
| At 01 October 2023 |
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| Charge for the financial year |
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| At 30 September 2024 |
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| Net book value | |||
| At 30 September 2024 |
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| At 30 September 2023 |
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| Computer equipment | Total | ||
| £ | £ | ||
| Cost | |||
| At 01 October 2023 |
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| Additions |
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| At 30 September 2024 |
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| Accumulated depreciation | |||
| At 01 October 2023 |
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| Charge for the financial year |
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| At 30 September 2024 |
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| Net book value | |||
| At 30 September 2024 |
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| At 30 September 2023 |
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| 2024 | 2023 | ||
| £ | £ | ||
| Stocks |
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| 2024 | 2023 | ||
| £ | £ | ||
| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Trade creditors |
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| Other loans |
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| Accruals |
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| Corporation tax |
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| Other taxation and social security |
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| Other creditors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Other loans |
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| 2024 | 2023 | ||
| £ | £ | ||
| At the beginning of financial year | (
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| Credited to the Statement of Income and Retained Earnings |
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| At the end of financial year |
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The deferred taxation balance is made up as follows:
| 2024 | 2023 | ||
| £ | £ | ||
| Accelerated capital allowances | (
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| Pension surplus |
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| Short term timing differences |
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Pensions
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £5,717 (2023: £5,354). Contributions totalling £769 (2023: £855) were payable to the fund at the balance sheet date and are included in creditors.
(Director's close relative)
During the year a close relative of a director provided the company with an interest free loan repayable on demand. At the balance sheet date the amount due to the close relative was £8,000 (2023: £30,000).
H Reynolds
(Director)
During the year the director provided the company with an interest free loan repayable on demand. At the balance sheet date the amount due to the director was £1,421 (2023: £1,069).
C Reynolds
(Director)
During the year the director provided the company with an interest free loan repayable on demand. At the balance sheet date the amount due to the director was £1,381 (2023: £1,069).
| 2024 | 2023 | ||
| £ | £ | ||
| Amounts falling due within one year | 8,000 | 24,000 | |
| Amounts falling due 1-2 years | 0 | 6,000 | |
| 8,000 | 30,000 |