Acorah Software Products - Accounts Production 16.3.350 false true true false 24 July 2025 9 November 2023 31 December 2024 31 December 2024 15271678 Aleksander Leonard Larsen Ellen Jayne Gormley Oakwood Corporate Secretary Limited Sky Mavis PTE. LTD. located in 3 Fraser Street, #05-24, DUO Tower, Singapore true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 15271678 2023-11-08 15271678 2024-12-31 15271678 2023-11-09 2024-12-31 15271678 frs-core:CurrentFinancialInstruments 2024-12-31 15271678 frs-core:ComputerEquipment 2024-12-31 15271678 frs-core:ComputerEquipment 2023-11-09 2024-12-31 15271678 frs-core:ComputerEquipment 2023-11-08 15271678 frs-core:OtherReservesSubtotal 2024-12-31 15271678 frs-core:ShareCapital 2024-12-31 15271678 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 15271678 frs-bus:PrivateLimitedCompanyLtd 2023-11-09 2024-12-31 15271678 frs-bus:FilletedAccounts 2023-11-09 2024-12-31 15271678 frs-bus:SmallEntities 2023-11-09 2024-12-31 15271678 frs-bus:Audited 2023-11-09 2024-12-31 15271678 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-09 2024-12-31 15271678 1 2023-11-09 2024-12-31 15271678 frs-bus:Director1 2023-11-09 2024-12-31 15271678 frs-bus:Director2 2023-11-09 2024-12-31 15271678 frs-bus:CompanySecretary1 2023-11-09 2024-12-31 15271678 frs-countries:EnglandWales 2023-11-09 2024-12-31
Registered number: 15271678
SKY MAVIS UK PTE. LTD
Financial Statements
For the Period 9 November 2023 to 31 December 2024
Contents
Page
Company Information 1
Balance Sheet 2
Notes to the Financial Statements 3—5
Page 1
Company Information
Directors Aleksander Leonard Larsen
Ellen Jayne Gormley
Secretary Oakwood Corporate Secretary Limited
Company Number 15271678
Registered Office 3rd Floor 1 Ashley Road
Altrincham
Cheshire
WA14 2DT
Auditors Zenith Audit Ltd
First Floor, 18 Devonshire Row
London,
EC2M 4RH
Page 1
Page 2
Balance Sheet
Registered number: 15271678
31 December 2024
Notes £ £
FIXED ASSETS
Tangible Assets 4 6,104
6,104
CURRENT ASSETS
Debtors 5 671,394
Cash at bank and in hand 156,557
827,951
Creditors: Amounts Falling Due Within One Year 6 (549,109 )
NET CURRENT ASSETS (LIABILITIES) 278,842
TOTAL ASSETS LESS CURRENT LIABILITIES 284,946
NET ASSETS 284,946
CAPITAL AND RESERVES
Called up share capital 7 10
Other reserves 164,390
Profit and Loss Account 120,546
SHAREHOLDERS' FUNDS 284,946
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime under Part 15 of the Companies Act 2006 and in accordance with Financial Reporting Standard 102 (FRS 102), Section 1A – Small Entities. 
The financial statements have been prepared under the historical cost convention in GBP and in accordance with applicable United Kingdom accounting standards. 
The financial statements were approved by the board of directors on 24 July 2025 and were signed on its behalf by:
Ellen Jayne Gormley
Director
24/07/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
SKY MAVIS UK PTE. LTD is a private company, limited by shares, incorporated in England & Wales, registered number 15271678 . The registered office is 3rd Floor 1 Ashley Road, Altrincham, Cheshire, WA14 2DT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention in GBP and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have considered the Company’s financial position, current performance, cash flows and forecasts for the foreseeable future. After making appropriate enquiries, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Cash and Cash Equivalents
Cash and cash equivalents includes cash on hand, demand deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value, and bank overdrafts.
Debtors
Trade and other debtors are recognized initially at the amount of consideration that is unconditional, unless they contain significant financing components, in which case they are recognised at fair value.
Creditors
Trade and other creditors are recognized at amortized cost and represent amounts payable for goods and services received, whether or not invoiced at the balance sheet date. Accruals are recognized based on best estimates of costs incurred.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment depreciated on straight line method over 3 years.
2.5. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
The charge for taxation is based on the profit or loss for the year and takes into account deferred taxation.  
Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. 
Deferred tax is recognized in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred that will result in an obligation to pay more or less tax in the future. A deferred tax asset is recognised only to the extent that it is probable that future taxable profits will be available against which the timing difference can be utilised. 
Deferred tax is measured using tax rates that have been enacted or substantively enacted by the balance sheet date and that are expected to apply when the timing differences reverse. Deferred tax balances are not discounted. 
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2.7. Share-Based Payments
The Company operates equity-settled share-based payment arrangements with employees. The fair value of share options granted is recognized as an expense over the vesting period, with a corresponding credit to equity. The fair value is determined at the grant date using an appropriate option pricing model, taking into account the terms and conditions of the award. 
At each reporting date, the Company revises its estimates of the number of options expected to vest. The impact of any revision is recognized in profit or loss, with a corresponding adjustment to equity.
2.8. Retirement Benefits
The Company operates a defined contribution pension scheme. Contributions to defined contribution pension plans are charged to the profit and loss account in the period in which they become payable. The Company has no further payment obligations once the contributions have been paid. 
2.9. Employee Benefits
Short-term employee benefits, such as wages, salaries and social security contributions, are recognised in the period in which the employees render the related service.  
3. Average Number of Employees
Average number of employees, including directors, during the period was: 5
5
4. Tangible Assets
Computer Equipment
£
Cost
As at 9 November 2023 -
Additions 7,295
As at 31 December 2024 7,295
Depreciation
As at 9 November 2023 -
Provided during the period 1,191
As at 31 December 2024 1,191
Net Book Value
As at 31 December 2024 6,104
As at 9 November 2023 -
5. Debtors
31 December 2024
£
Due within one year
Amounts owed by group undertakings 607,833
Other debtors 63,561
671,394
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6. Creditors: Amounts Falling Due Within One Year
31 December 2024
£
Corporation tax 38,147
Other creditors 37,495
Accruals and deferred income 163,314
Amounts owed to group undertakings 310,153
549,109
7. Share Capital
31 December 2024
£
Allotted, Called up and fully paid 10
1000 Ordinary shares of £0.01 each
8. Related Party Transactions
As at the balance sheet as of 31st December 2024, the Company had balances with its ultimate controlling party. The nature of these balances is as  follows: 
      ● As of 31st December 2024, amounts owed by group undertakings etc. included a balance of £607,833. 
      ● As of 31st December 2024, amounts due to group undertakings etc. included a balance of £310,153. 
      ● Amounts due from/(to) group undertakings represent trading and non-trading intercompany balances. 
All such balances are unsecured, interest-free, and payable on demand, unless otherwise stated. 
9. Ultimate Controlling Party
The company is a wholly owned subsidiary of SKY MAVIS PTE. LTD., a company incorporated in the Republic of Singapore.
SKY MAVIS PTE. LTD. 
3 Temasek Avenue, #17-01, Centennial tower, Singapore, 039190 
Company Registration Number: 201913227N 
The consolidated financial statements of the parent company are available from its registered office. 
10. Share based payments
During the period, the Company granted options over 45,506 ordinary shares to key employees under its share option scheme. The options vest after four years of continued employment and are exercisable at a price of Nil per share. 
The fair value of the options granted was estimated at USD18.153 per option at the grant date using the Black-Scholes model. The total expense recognised in the profit and loss account for the year in respect of share-based payment transactions was £164,390 (equivalent to USD 206,516). 
11. Audit Information
The auditor's report on the accounts of SKY MAVIS UK PTE. LTD for the period ended 31 December 2024 was unqualified.
The auditor's report was signed by Milena Mitova (Senior Statutory Auditor) for and on behalf of Zenith Audit Ltd , Statutory Auditor.
Zenith Audit Ltd
First Floor, 18 Devonshire Row
London,
EC2M 4RH
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