SKYHOOK GAMES STUDIO LTD


Directors	CHELLEW, Graham Paul
	GREENWELL, Jonathan
	HARPER, David John


Registered Address	Elevator Studios, Second Floor
	27 Parliament Street
	Liverpool
	L8 5RN


Registered Number	06289588 (England and Wales)

Notes to the Financial Statements
for the year ended 30 June 2025

1.	Accounting policies

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

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Revenue from rendering of services
	Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

	Operating leases
	Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


	Reducing balance (%)	Straight line (years)
Plant and machinery	33	-
Fixtures and fittings	15	-
Office Equipment	-	3

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	22		34

3.	Further information regarding the company's income
	Video Games Tax Credits ('VGTR') are only recognised where it is the Directors' belief that a tax credit will be recoverable. This is based upon the Company's experience at obtaining the required certification to facilitate its titles in development to qualify for VGTR and success at previous claims. VGTR is recognised in other operating income in the Profit and Loss account.

4.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 July 24	25,203	25,203
At 30 June 25	25,203	25,203
Amortisation and impairment
At 01 July 24	10,411	10,411
Charge for year	6,083	6,083
At 30 June 25	16,494	16,494
Net book value
At 30 June 25	8,709	8,709
At 30 June 24	14,792	14,792

5.	Tangible fixed assets

	Fixtures & fittings	Office Equipment	Total
	£	£	£
Cost or valuation
At 01 July 24	25,705	96,973	122,678
Additions	654	819	1,473
Disposals	-	(5,542)	(5,542)
At 30 June 25	26,359	92,250	118,609
Depreciation and impairment
At 01 July 24	9,645	69,161	78,806
Charge for year	2,482	9,801	12,283
At 30 June 25	12,127	78,962	91,089
Net book value
At 30 June 25	14,232	13,288	27,520
At 30 June 24	16,060	27,812	43,872

6.	Fixed asset investments

	Investments in groups¹	Total
	£	£
Cost or valuation
At 01 July 24	100	100
At 30 June 25	100	100
Net book value
At 30 June 25	100	100
At 30 June 24	100	100

	Notes
	¹Investments in group undertakings and participating interests

7.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	87,346	529,559
Amounts owed by group undertakings	344,657	-
Other debtors	-	160,256
Prepayments and accrued income	62,968	109,980
Deferred tax asset, debtors	111,104	17,129
Total	606,075	816,924


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.

8.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	51,372	127,304
Bank borrowings and overdrafts	58,358	58,254
Amounts owed to related parties	185,697	238,920
Taxation and social security	28,398	-
Accrued liabilities and deferred income	-	9,166
Total	323,825	433,644


	Short term creditors are measured at transaction price (which is usually the invoice price).

9.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	82,503	140,741
Total	82,503	140,741

10.	Operating lease commitments
	At 30 Jun 2025, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £21,563 (2024 – £47,438).

11.	Parent-subsidiary relationships
	Skyhook Interactive Limited is a wholly owned subsidiary of Skyhook Games Studio Ltd. At the period ended 30 June 2025, the consolidated management accounts position of the group for the following headings were: Turnover - £734,305 (2024 – £2,812,773) Loss after tax - £241,824 (2024 – £352,285) Shareholders' funds - £842,542 (2024 – £1,136,366) During the period, Skyhook Games Studio Limited undertook transactions with its fully owned subsidiary company, Skyhook Interactive Limited. Under the agreements in place between the two parties, Skyhook Interactive Limited transacted with Skyhook Games Studio Limited in respect of resourcing fees £851,844 and Skyhook Games Studio Limited transacted with Skyhook Interactive Limited in respect of development costs £851,844. As at 30 June 2025, Skyhook Interactive Limited owed Skyhook Games Studio Limited £158,961.

11.

Parent-subsidiary relationships

Skyhook Interactive Limited is a wholly owned subsidiary of Skyhook Games Studio Ltd. At the period ended 30 June 2025, the consolidated management accounts position of the group for the following headings were: 

Turnover - £734,305 (2024 – £2,812,773)
Loss after tax - £241,824 (2024 – £352,285)
Shareholders' funds - £842,542 (2024 – £1,136,366)

During the period, Skyhook Games Studio Limited undertook transactions with its fully owned subsidiary company, Skyhook Interactive Limited. Under the agreements in place between the two parties, Skyhook Interactive Limited transacted with Skyhook Games Studio Limited in respect of resourcing fees £851,844 and Skyhook Games Studio Limited transacted with Skyhook Interactive Limited in respect of development costs £851,844.

As at 30 June 2025, Skyhook Interactive Limited owed Skyhook Games Studio Limited £158,961.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	4		8,709		14,792
Tangible assets	5		27,520		43,872
Investments	6		100		100
			36,329		58,764
Current assets
Debtors	7	606,075		816,924
Cash at bank and on hand		591,468		451,717
		1,197,543		1,268,641
Creditors amounts falling due within one year	8	(323,825)		(433,644)
Net current assets (liabilities)			873,718		834,997
Total assets less current liabilities			910,047		893,761
Creditors amounts falling due after one year	9		(82,503)		(140,741)
Net assets			827,544		753,020
Capital and reserves
Called up share capital			1,000		1,000
Profit and loss account			826,544		752,020
Shareholders' funds			827,544		753,020