REGISTERED NUMBER: 06963203 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Kasedo Games Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J B L Hales

REGISTERED OFFICE:

Phoenix Square

4 Midland Street

Leicester

LE1 1TG

REGISTERED NUMBER:

06963203 (England and Wales)

SENIOR STATUTORY AUDITOR:

MR ANILKUMAR TAILOR

AUDITORS:

Celerica Ltd (Statutory Auditors)

First Floor

The Old Chapel

9 Kempson Road

Leicester

LE2 8AN

FIXED ASSETS

Intangible assets

5

94,871

113,845

Tangible assets

6

9,620

13,490

Investments

7

47,465

47,465

151,956

174,800

CURRENT ASSETS

Debtors

8

449,458

449,091

Cash at bank and in hand

4,553,311

5,208,740

5,002,769

5,657,831

CREDITORS

Amounts falling due within one year

9

1,472,032

2,052,068

NET CURRENT ASSETS

3,530,737

3,605,763

TOTAL ASSETS LESS CURRENT LIABILITIES

3,682,693

3,780,563

PROVISIONS FOR LIABILITIES

2,405

3,373

NET ASSETS

3,680,288

3,777,190

CAPITAL AND RESERVES

Called up share capital

10

500

500

Retained earnings

3,679,788

3,776,690

SHAREHOLDERS' FUNDS

3,680,288

3,777,190

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 director and authorised for issue on 29 September 2025 and were signed by:

J B L Hales - Director

1.	STATUTORY INFORMATION

Kasedo Games 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The nature of the company's operations and principle activities are that of global publisher, e-commerce and technology in the digital video games industry. The company develops, publishes and sells digital games which can be downloaded and played on a wide range of PC and console platforms including the Sony Playstation, Nintendo Switch and the Microsoft Xbox. The company has relationships with a number of game distribution platform such as Steam, which issue digital game 'keys' that are sold to gaming customers through their website or console platform. The digital 'keys' allow customers to download digital games straight to their PC and console platforms and therefore no physical stock is held by the company.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound (£).

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover represents the total invoice value, excluding value added tax of sales made during the year.

Revenue from sales of goods is recognised when the company has transferred the signification risks and rewards of ownership to the buyer and it is probable that the company will receive the previously agreed upon payment. These criteria are considered to be met when the game licence 'key' has been issued to the customer or the bundle of game licence 'key' codes have been issued to the distributor.

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.

Licence and distribution rights are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

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

Office furniture

-

25% on cost

Computer and office equipment

-

33% on cost

Investments in associates

Investments in associate undertakings are recognised at cost.

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 profit.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 8 ) .

4.	AUDITORS' REMUNERATION

31.12.24

31.12.23

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

5,000

3,000

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

189,742

AMORTISATION

At 1 January 2024

75,897

Charge for year

18,974

At 31 December 2024

94,871

NET BOOK VALUE

At 31 December 2024

94,871

At 31 December 2023

113,845

6.	TANGIBLE FIXED ASSETS

Computer

and

Office

office

furniture

equipment

Totals

£

£

£

COST

At 1 January 2024

812

19,571

20,383

Additions

-

3,525

3,525

At 31 December 2024

812

23,096

23,908

DEPRECIATION

At 1 January 2024

812

6,081

6,893

Charge for year

-

7,395

7,395

At 31 December 2024

812

13,476

14,288

NET BOOK VALUE

At 31 December 2024

-

9,620

9,620

At 31 December 2023

-

13,490

13,490

7.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 January 2024

and 31 December 2024

47,465

NET BOOK VALUE

At 31 December 2024

47,465

At 31 December 2023

47,465

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

376,580

212,530

Amounts owed by group undertakings

34,873

213,174

Other debtors

36,778

22,172

Prepayments and deferred costs

1,227

1,215

449,458

449,091

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

139,516

223,803

Amounts owed to group undertakings

1,199,789

1,552,241

Amounts owed to associates

121,998

140,239

Tax

-

118,282

Social security and other taxes

-

6,690

Other creditors

50

50

Accrued expenses

10,679

10,763

1,472,032

2,052,068

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

500

Ordinary

£1

500

500

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the report was Anilkumar Tailor who signed for and on behalf of Celerica Ltd, Statutory Auditor.

12.	FINANCIAL COMMITMENTS

Total minimum lease payments under operating leases are £17,184 (2023 - £31,248).

13.	RELATED PARTY TRANSACTIONS

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.

14.	PARENT UNDERTAKING

Consolidated financial statements are prepared by the company's parent undertaking, Kalypso Media Group GmbH, Wilhelm-Leuschner-Straße 11-13, Worms, Germany, 67547.