Company registration number 09427367 (England and Wales)
ICON GAMING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
ICON GAMING LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
ICON GAMING LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
€
€
€
€
Fixed assets
Investments
4
404,000
404,000
Current assets
Trade and other receivables
6
120,799
123,050
Current liabilities
7
(49,408)
(50,095)
Net current assets
71,391
72,955
Total assets less current liabilities
475,391
476,955
Equity
Called up share capital
8
4,459
4,459
Share premium account
2,596,886
2,596,886
Retained earnings
9
(2,125,954)
(2,124,390)
Total equity
475,391
476,955
The director of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 30 April 2025 and are signed on its behalf by:
E Katravas
Director
Company Registration No. 09427367
ICON GAMING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in Euros, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest €.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group. Icon Gaming Limited is a wholly owned subsidiary of Photech Enterprises Ltd, a company registered in Cyprus.
1.2
Non-current investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initiallly recognised at transaction value and subsequently measured at amortised cost.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
1.6
Foreign exchange
Transactions in currencies other than Euros are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in other currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the income statement for the period.
ICON GAMING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was: 1 (2023 - 1).
4
Fixed asset investments
2024
2023
€
€
Investments
404,000
404,000
Movements in fixed asset investments
Shares in group undertakings
€
Cost or valuation
At 1 October 2023 & 30 September 2024
404,000
Carrying amount
At 30 September 2024
404,000
At 30 September 2023
404,000
5
Subsidiaries
These financial statements are separate company financial statements for Icon Gaming Ltd. Separate company financial statements are required to be prepared by law. The company is exempt from the requirement to prepare consolidated financial statements on the basis that the group qualifies as a small group under Section 383 of the Companies Act 2006 and is not ineligible under Section 384.
Details of the company's subsidiaries at 30 September 2024 are as follows:
Name of undertaking and country of
Nature of business
Class of
% Held
incorporation or residency
shareholding
Direct
Indirect
Icon Gaming S.A.
Greece
Gaming development
Ordinary
100.00
0
ICON GAMING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
5
Subsidiaries
(Continued)
- 4 -
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Profit/(Loss)
Capital and Reserves
€
€
Icon Gaming S.A.
-
(238,207)
The investment in the subsidiary is stated at cost.
6
Trade and other receivables
2024
2023
Amounts falling due within one year:
€
€
Amounts owed by group undertakings
120,799
123,050
7
Current liabilities
2024
2023
€
€
Trade payables
47,967
48,250
Other payables
1,441
1,845
49,408
50,095
8
Called up share capital
2024
2023
€
€
Ordinary share capital
Issued and fully paid
3,750 ordinary shares of £1 each
4,459
4,459
9
Retained earnings
2024
2023
€
€
At the beginning of the year
(2,124,390)
(2,121,732)
Loss for the year
(1,564)
(2,658)
At the end of the year
(2,125,954)
(2,124,390)