REGISTERED NUMBER: 08302629 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

FIRESTORM GAMES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R E West

Mrs M T West

REGISTERED OFFICE:

13-14 Gelliwastad Road

Pontypridd

RCT

CF37 2BW

REGISTERED NUMBER:

08302629 (England and Wales)

ACCOUNTANTS:

Sullivans Chartered Accountants

13-14 Gelliwastad Road

Pontypridd

Rhondda Cynon Taf

CF37 2BW

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

989,118

987,283

Investments

6

-

50

989,118

987,333

CURRENT ASSETS

Inventories

7

731,567

567,598

Debtors

8

81,208

230,992

Investments

9

4,000

4,000

Cash at bank and in hand

195,298

121,544

1,012,073

924,134

CREDITORS

Amounts falling due within one year

10

833,494

740,574

NET CURRENT ASSETS

178,579

183,560

TOTAL ASSETS LESS CURRENT LIABILITIES

1,167,697

1,170,893

CREDITORS

Amounts falling due after more than one year

11

(626,359

)

(581,267

)

PROVISIONS FOR LIABILITIES

(26,903

)

(26,554

)

NET ASSETS

514,435

563,072

CAPITAL AND RESERVES

Called up share capital

14

100

100

Retained earnings

514,335

562,972

SHAREHOLDERS' FUNDS

514,435

563,072

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 July 2025 and were signed on its behalf by:

Mr R E West - Director

1.	STATUTORY INFORMATION

Firestorm Games Limited 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.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of three years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

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

Fixtures & Fittings - 25% reducing balance

Computer Equipment - 33% on cost

Motor Vehicles - 20% reducing balance

Plant & Machinery - 33% on cost

Freehold Property - not currently depreciated

Freehold Property:

The directors acknowledge the need to assess appropriate depreciation policies based upon historical cost less residual value. It is not believed that the freehold property's residual value has reduced below its cost, as at the balance sheet date. Accordingly, the freehold property has not been depreciated, in this accounting year.

Investments in associates

Investments in associate undertakings are recognised at cost.

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Assets obtained under hire purchase contracts are capitalised in the balance sheet and are depreciated over their estimated useful lives.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2023 - 34 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

Website

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

19,000

9,275

28,275

AMORTISATION

At 1 January 2024

and 31 December 2024

19,000

9,275

28,275

NET BOOK VALUE

At 31 December 2024

-

-

-

At 31 December 2023

-

-

-

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

941,816

169,438

1,111,254

Additions

-

20,148

20,148

At 31 December 2024

941,816

189,586

1,131,402

DEPRECIATION

At 1 January 2024

-

123,971

123,971

Charge for year

-

18,313

18,313

At 31 December 2024

-

142,284

142,284

NET BOOK VALUE

At 31 December 2024

941,816

47,302

989,118

At 31 December 2023

941,816

45,467

987,283

6.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 January 2024

50

Impairments

(50

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

50

7.	INVENTORIES

31/12/24

31/12/23

£

£

Stocks

731,567

567,598

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade debtors

39,477

67,862

Amounts owed by group undertakings

-

133,475

Other debtors

41,731

29,655

81,208

230,992

9.	CURRENT ASSET INVESTMENTS

31/12/24

31/12/23

£

£

Unlisted investments

4,000

4,000

Current asset investments relates to the cost of redeemable par value shares within a UK private limited company. The investment is in consideration for the company becoming a member and having the benefit of intellectual property. The shares are redeemable only at par value and are reported at cost.

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Bank loans and overdrafts

46,283

32,616

Trade creditors

505,354

451,406

Taxation and social security

73,975

80,279

Other creditors

207,882

176,273

833,494

740,574

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/24

31/12/23

£

£

Bank loans

606,275

551,056

Other creditors

20,084

30,211

626,359

581,267

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

403,204

427,818

12.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31/12/24

31/12/23

£

£

Within one year

62,482

39,390

Between one and five years

174,818

84,250

237,300

123,640

The operating leases are connected to commercial properties, vehicles and equipment.

13.	SECURED DEBTS

The following secured debts are included within creditors:

31/12/24

31/12/23

£

£

Bank loans

652,558

583,672

Bank loan of £28,209 (2023 - £39,176) is under the Bounce Back Loan scheme and is therefore, substantially guaranteed by the government.

Bank loan with NatWest Bank has a fixed and floating fixed charge covering the company's assets inclusive of the commercial property.

During this period, the company received a further £105,900 bank loan, which is secured by a director's personal guarantee.The capital amount outstanding at the Balance Sheet date was £100,347 (2023 - £0).

14.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/24

31/12/23

value:

£

£

100

Ordinary

£1

100

100