REGISTERED NUMBER: 14959311 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

IOI BRIGHTON LTD

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Notes to the Financial Statements

13

DIRECTORS:

H B Abrak

O Prebet

M B Svanum

REGISTERED OFFICE:

Second Floor West Wing Office Premises

Lees House, Dyke Road

Brighton and Hove

BN1 3FE

REGISTERED NUMBER:

14959311 (England and Wales)

AUDITORS:

Oury Clark Chartered Accountants

Statutory Auditors

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

The directors present their strategic report for the year ended 31 March 2025.

REVIEW OF BUSINESS

IO Interactive A/S (the Parent Company) develops, publishes, and markets computer games in the global market.

The mission is to develop world class computer games, based on its originally developed characters, universes, concepts and its proprietary technology.

IOI Group primarily works on its own intellectual properties except for high-profile licensed IP's. In 2024/25 IOI Group started their own publishing company to publish games for other game developers.

IOI Brighton Ltd develops games together with other subsidiaries and works as Video Game Development Company for the current development projects. To cater that IOI Brighton Ltd is loaned the staff from other IO entities to drive the development of these projects. The directors of IOI Brighton Ltd are principally responsible for the running of the Company in the ordinary course of business.

Revenue for the year has increased from £29m in 23/24 to £43m in 24/25. This is due to a higher activity level because of increasing number of employees on the games under development and that the games are closer to release. Profit for the financial year excluding other operation income is as expected and in alignment with the groups transfer pricing agreement.

PRINCIPAL RISKS AND UNCERTAINTIES

Knowledge Resources

Attracting and retaining highly talented employees is a strategically important area of focus. IO Interactive A/S will continue to make significant investments in recruitment and further development of its employees. IOI Brighton Ltd is an important part of this investment, opening avenues for talent recruitment in the UK. In 2024/25 IOI Brighton Ltd went from 27 full time employees to 38 full time employees.

Product and Business diversification including internal growing pains

It has been a long-term strategic goal for IO Interactive A/S to diversify the product portfolio by developing new games that cater to audiences different from the fans of the Hitman franchise. Becoming a multi project studio again and growing across multiple countries is bringing equal opportunities and challenges. The products in question are still the minor activities on the Hitman franchise next to our major projects, James Bond & Fantasy Project. The latter two are done in collaboration with external partners with both internal and external publishing and financing. These projects are big bets and are of course very challenging to realise from both a creative and talent perspective. IOI Brighton Ltd is Video Game Development Company on these major projects.

Creating new IP's and working on a major licensing IP also bring significant risks, as core systems, technology, new game loops, growing pains with bigger teams all require IOI's foundation to be transformed into something different, new, and usually more advanced/complex. IOI Group has continuing focus on making this transformation as smooth as possible despite the growing aches and challenges it imposes. IOI Group has grown over the years across several studios across different countries, which is challenging for our business culture and ways of doing things, which means that attrition has increased compared to what we have been used to. To combat this, IOI Group must evolve and embrace the new talent and new knowledge needed to achieve our ambitions with our projects and at the same time integrate them into our values.

RESEARCH AND DEVELOPMENT ACTIVITIES

It is an important competitive factor for IOI Group to be at the forefront of game technology. Therefore, IO Interactive A/S will continue to invest substantially in research and development of the group's own game engine technology, modernizing it with new systems like animation, rendering technology and alike. Also, we are investing in multiplayer technology.

ANALYSIS USING KEY FINANCIAL AND OTHER PERFORMANCE INDICATORS

Management and the Directors monitor the Company's overall performance against specific project plans and timelines. Management has identified key indicators that are used to monitor performance, which are reviewed on a regular basis. This measurement is not solely done in isolation at the Company level, but also within context of the wider IOI Group. The primary indicator remains to be the retention of highly qualified individuals to work on the projects.

ON BEHALF OF THE BOARD:

M B Svanum - Director

1 September 2025

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

DIVIDENDS

No dividends will be distributed for the year ended 31 March 2025.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

H B Abrak

O Prebet

M B Svanum

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Oury Clark Chartered Accountants, are deemed to be re-appointed under Section 487 (2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:

M B Svanum - Director

1 September 2025

Opinion

We have audited the financial statements of IOI Brighton Ltd (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months and one day from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be misstated. If we identify such inconsistencies or apparent misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified any matters in the Strategic Report or Report of the Directors that are inconsistent with our overall view of the financial statements.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Identifying and assessing potential irregularities, including fraud

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non compliance with laws and regulations, our procedures included the following:

1. Considering the nature of the industry, sector, control environment and current business activities, including possible performance targets and subsequent remuneration;

2. Enquiring of management concerning policies and procedures relating to:

- complying with laws and regulations and whether there were any instances of non-compliance; and

- mitigating, detecting and responding to fraud risk and whether there has been any actual or possible instances of fraud;

3. Discussing with the engagement team regarding how and where fraud may occur in the financial statements along with the possible indicators of fraud. We identified management override as being the area most likely to be susceptible to fraud.

4. Discussing with the engagement team the legal and regulatory framework in which the company operates and in particular those which would have an impact on the financial statements. The key laws and regulations considered were the Companies Act 2006, UK tax legislation and UK employment law.

Audit response to the risks identified

As noted above, we identified management override as the matter that would most likely be susceptible to fraud. Our procedures to respond to this risk included the following:

- Reviewing the nominal ledger and journals posted in the year for any indication of management bias.

Further, we also identified compliance with the Companies Act 2006, UK tax legislation and UK employment law as being key areas where there may be possible non-compliance. Our procedures to respond to these risks included the following:

- Review the financial statement disclosures and testing to supporting documentation to assess compliance with the

Companies Act 2006;

- A safeguard review of the financial statements by a qualified accountant not associated with the audit team, and of the corporation tax by a Chartered Tax Adviser not associated with the audit team;

- A review of expenses for any items not allowed for UK corporation tax, and the completion of a detailed tax checklist to ensure the tax computation complies with UK tax legislation;

- We have checked a sample of compliance with right to work checks and reviewed legal fees for indications of material issues arising out of non-compliance with employment law.

The above matters and identified laws and regulations and potential fraud risks were communicated to all engagement team members, in order to enable the team to have the ability to identify such risks. The whole team remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

There are inherent limitations in the audit procedures described above and the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Rachel Lockwood (Senior Statutory Auditor)

for and on behalf of Oury Clark Chartered Accountants

Statutory Auditors

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

4 September 2025

TURNOVER

3

42,707,716

28,874,399

Administrative expenses

42,362,058

28,735,476

345,658

138,923

Other operating income

10,050,517

3,138,075

OPERATING PROFIT

5

10,396,175

3,276,998

Interest receivable and similar income

15,361

-

10,411,536

3,276,998

Interest payable and similar expenses

6

53,681

32,385

PROFIT BEFORE TAXATION

10,357,855

3,244,613

Tax on profit

7

90,354

60,783

PROFIT FOR THE FINANCIAL YEAR

10,267,501

3,183,830

PROFIT FOR THE YEAR

10,267,501

3,183,830

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

10,267,501

3,183,830

Note

Prior year adjustment

8

526,381

TOTAL COMPREHENSIVE INCOME SINCE LAST ANNUAL REPORT

10,793,882

FIXED ASSETS

Tangible assets

9

609,439

136,425

CURRENT ASSETS

Debtors

10

14,621,355

10,124,693

Cash at bank

776,712

435,353

15,398,067

10,560,046

CREDITORS

Amounts falling due within one year

11

2,152,231

7,262,370

NET CURRENT ASSETS

13,245,836

3,297,676

TOTAL ASSETS LESS CURRENT LIABILITIES

13,855,275

3,434,101

CREDITORS

Amounts falling due after more than one year

12

(285,068

)

(216,164

)

PROVISIONS FOR LIABILITIES

14

(118,875

)

(34,106

)

NET ASSETS

13,451,332

3,183,831

CAPITAL AND RESERVES

Called up share capital

15

1

1

Retained earnings

16

13,451,331

3,183,830

SHAREHOLDERS' FUNDS

13,451,332

3,183,831

The financial statements were approved by the Board of Directors and authorised for issue on 1 September 2025 and were signed on its behalf by:

M B Svanum - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Changes in equity

Issue of share capital

1

-

1

Total comprehensive income

-

2,657,449

2,657,449

Balance at 31 March 2024

1

2,657,449

2,657,450

Prior year adjustment

-

526,381

526,381

As restated

1

3,183,830

3,183,831

Changes in equity

Total comprehensive income

-

10,267,501

10,267,501

Balance at 31 March 2025

1

13,451,331

13,451,332

1.	STATUTORY INFORMATION

IOI Brighton Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The trading address of the Company is the same as the registered office address.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis as IO Interactive A/S, the immediate parent company, will continue to trade with the Company as required for a period in excess of 12 months and one day from the signing of the audit report.

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty

The process of preparing financial statements in conformity with accounting principles generally accepted in the United Kingdom ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results could differ from those estimates.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is calculated on a cost plus basis in relation to third party operating expenses incurred us, and is recharged to a fellow group company. Subcontractor expenses charged to us are passed on with no mark up added.

Tangible fixed assets

Tangible fixed assets are initially recognised at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is provided at the following annual rates in order to write off the asset over its estimated useful life:

Fixtures and fittings - 3 year, straight line

Computer equipment - 3 year, straight line

Leasehold improvements - 10 year, straight line

Financial instruments

Basic Financial Instruments as covered by Section 11 of FRS 102 are measured at amortised cost. The company does not have any Other Financial Instruments as covered by Section 12 of FRS 102.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government grants - video game tax relief

Income from Video Game Tax Relief (VTGR) is accounted for under FRS 102 Section 24 - Government Grants. VTGR is recognised as a government grant and is treated as other operating income in the profit and loss account.

The grant is recognised when there is reasonable assurance that:

- the company has complied with the relevant conditions attached to the scheme; and

- the grant will be received.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

Period

24.6.23

Year Ended

to

31.3.25

31.3.24

as restated

£

£

Intercompany revenue

42,707,716

28,874,399

42,707,716

28,874,399

All revenue derives from the parent company based in Denmark.

4.	EMPLOYEES AND DIRECTORS

Period

24.6.23

Year Ended

to

31.3.25

31.3.24

as restated

£

£

Wages and salaries

2,175,123

1,060,531

Social security costs

231,222

92,747

Other pension costs

126,736

46,458

2,533,081

1,199,736

The average number of employees during the year was as follows:

Period

24.6.23

Year Ended

to

31.3.25

31.3.24

as restated

Games development

27

12

Admin and marketing

5

2

32

14

Period

24.6.23

Year Ended

to

31.3.25

31.3.24

as restated

£

£

Directors' remuneration

40,401

145,405

5.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

Period

24.6.23

Year Ended

to

31.3.25

31.3.24

as restated

£

£

Rental leases

525,783

110,713

Depreciation - owned assets

107,654

37,063

Auditors' remuneration

18,008

15,000

Foreign exchange differences

(163,659

)

10,106

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

Period

24.6.23

Year Ended

to

31.3.25

31.3.24

as restated

£

£

Bank interest

65

-

Intercompany loan interest

53,616

32,385

53,681

32,385

7.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

Period

24.6.23

Year Ended

to

31.3.25

31.3.24

as restated

£

£

Current tax:

UK corporation tax

5,585

26,677

Deferred tax

84,769

34,106

Tax on profit

90,354

60,783

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

Period

24.6.23

Year Ended

to

31.3.25

31.3.24

as restated

£

£

Profit before tax

10,357,855

3,244,613

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

2,589,464

811,153

Effects of:

Expenses not deductible for tax purposes

145,030

131,240

Income not taxable for tax purposes

(2,512,629

)

(784,519

)

Capital allowances in excess of depreciation

(87,485

)

(34,106

)

Utilisation of tax losses

-

(44,993

)

Deferred tax charges

84,769

34,106

Video games tax credit offset

(128,795

)

(52,098

)

Total tax charge

90,354

60,783

8.	PRIOR YEAR ADJUSTMENT

During the current year, it was identified that there was a change in the intercompany recharges included in the prior year financial statements due to misallocated overheads and an unrecorded license fee recharge from the Danish parent entity.

The following prior year adjustments have therefore been posted to the comparative period:

Reason

Balance Sheet Impact debit/(credit)

Profit & (Loss) Impact

Recognition of omitted intercompany recharges for license fees and overheads from IOI Denmark

(£3,680,097

)

(£3,680,097

)

Correction of misallocated overheads with IOI Barcelona

£209,467

£209,467

Correction of misallocated overheads with IOI Sweden

(£138,274

)

(£138,274

)

Recharging of costs to IOI Denmark

£3,608,904

£3,608,904

Total impacts

£0

£0

These adjustments to intercompany recharges impacted both the tax payable and grant income figures due to their effect on the Video Game Tax Relief (VGTR) claim. As a result, the following additional adjustments have been posted to the comparative period.

Reason

Balance Sheet Impact debit/(credit)

Profit & (Loss) Impact

Impact of intercompany recharge adjustment on grant income

£513,490

£513,490

Impact of intercompany recharge adjustment on tax payable

£12,891

£12,891

Total impacts

£526,381

£526,381

Additionally, during the year, the company reviewed its accounting policy for VGTR and determined that a change in accounting policy was necessary to better reflect FRS 102 Section 24 - Government Grants.

VGTR is now recognised as a government grant and is presented as other operating income separate from the corporation tax charge.

A prior year adjustment has been made to restate the comparative figures. This impact is purely reclassification and leaves net profit unchanged.

9.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2024

-

4,766

168,722

173,488

Additions

320,386

56,532

203,750

580,668

At 31 March 2025

320,386

61,298

372,472

754,156

DEPRECIATION

At 1 April 2024

-

3,575

33,488

37,063

Charge for year

10,680

10,922

86,052

107,654

At 31 March 2025

10,680

14,497

119,540

144,717

NET BOOK VALUE

At 31 March 2025

309,706

46,801

252,932

609,439

At 31 March 2024

-

1,191

135,234

136,425

10.

DEBTORS

31.3.25

31.3.24

as restated

£

£

Amounts falling due within one year:

Amounts owed by group undertakings

1,055,225

6,758,939

Other debtors

13,156,330

3,131,569

VAT

47,187

53,757

Prepayments and accrued income

137,587

70,975

14,396,329

10,015,240

Amounts falling due after more than one year:

Other debtors

225,026

109,453

Aggregate amounts

14,621,355

10,124,693

There are pending video games tax relief claims at the sign off date. This is included in the financial statements under other debtors, totalling £13,156,330 (2024: £3,111,398) being the amount receivable.