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Registered number: 10802474
PLAYGROUND XYZ EMEA LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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PLAYGROUND XYZ EMEA LTD
CONTENTS
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Statement of Changes in Equity
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Notes to the Financial Statements
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PLAYGROUND XYZ EMEA LTD
REGISTERED NUMBER: 10802474
BALANCE SHEET
AS AT 31 DECEMBER 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 September 2025.
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PLAYGROUND XYZ EMEA LTD
REGISTERED NUMBER: 10802474
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
The notes on pages 4 to 11 form part of these financial statements.
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PLAYGROUND XYZ EMEA LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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Comprehensive income for the year
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Comprehensive income for the year
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The notes on pages 4 to 11 form part of these financial statements.
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PLAYGROUND XYZ EMEA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Playground XYZ EMEA Ltd is a private company, limited by shares, incorporated in England and Wales, registration number 10802474. The registered office is The Corner Building, Farringdon Road, London, United Kingdom, EC1M 3LN.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
Following a strategic review of the Company’s future prospects and commercial viability, the directors have taken the decision to cease trading after the balance sheet date, although no formal decision has been made regarding the future plans for the Company. The decision to cease trading was made prior to the approval of these financial statements.
As a result, the financial statements have not been prepared on a going concern basis. Instead, they have been prepared on a basis other than going concern that reflects the intention to realise assets and settle liabilities in the normal course of business, but without the assumption of continued trading.
Management has confirmed that, with the financial support of the ultimate parent undertaking, the company has sufficient resources and plans in place to ensure that all known liabilities will be settled in full as they fall due. Accordingly, the directors do not anticipate any shortfall in meeting the company’s financial obligations.
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
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PLAYGROUND XYZ EMEA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Foreign currency translation (continued)
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Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
The Company generates revenue primarily by delivering brand advertising impressions, including advertising impressions delivered via real-time bidding, and on a smaller scale, through performance based campaigns on third party websites. These revenues can be broken in to two categories:
Direct revenue - The Company enters into agreements with advertisers to deliver managed advertising campaigns at negotiated prices with certain performance requirements over a specified period of time. The Company sets the pricing and is responsible for performance delivery. The Company invoices the advertisers in arrears at the end of each month for impressions filled in that month. Revenue from direct revenue is recognised once the performance obligations have been fulfilled.
Programmatic revenue - The company generates revenue from transactions where it enables the purchase and sale of digital advertising inventory using real time bidding. The total volume of spending between buyers and sellers in these transactions is referred to as advertising spend. the Company keeps a percentage of the total advertising spend, net of related platform fee, and remits the remainder to the seller of the advertising inventory. The Company recognises revenue upon fulfilment of its performance obligations at the point in time an advert renders and is counted as a paid impression.
AIP revenue - The company sells optimisation and measurement data to advertisers. The Company invoices the advertisers in arrears and recognises revenue at the end of each month for impressions tracked in that month.
On the first day of the financial year, 1 January 2024,, the Direct and Programmatic revenue streams were transferred to another group entity. Consequently, only AIP revenue is recognised as relevant for the current year. In the prior year, all three revenue streams—Direct, Programmatic, and AIP—were applicable and are reflected in the comparative figures.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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PLAYGROUND XYZ EMEA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
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PLAYGROUND XYZ EMEA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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Judgements in applying accounting policies and key sources of estimation uncertainty
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In preparing these financial statements, the directors are required to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. Judgements and estimates are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The directors have applied the following significant judgements or estimates in the preparation of these financial statements:
Provision(note 10)
The company had a provision in respect of penalties and interest on tax liabilities at 31 December 2023. During the year this was settled and the provision released to the profit and loss. Further provisions of this nature are not expected.
Doubtful debt provision
The company makes an estimate of the recoverable value of trade debtors. The company uses estimates based on historical experience, and recoverability since the period end in determining the level of debts which the company believes will not be collected.
Recoverability of intercompany balances
The company assesses the recoverability of intercompany debtor balances based on the financial position and expected cash flows of group entities. Judgement is applied in determining whether provisions are required, considering factors such as trading performance, liquidity, and historical settlement patterns.
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The average monthly number of employees during the year was 0 (2023 - 0).
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PLAYGROUND XYZ EMEA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Charge for the year on owned assets
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Due to the directors making the decision to cease trading post year-end and the accounts being prepared on a basis other than going concern, the tangible fixed assets have been revalued to nil, as these are likely to be disposed of with no gain or loss.
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PLAYGROUND XYZ EMEA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Amounts owed by group undertakings
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Prepayments and accrued income
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Amounts owed by group undertakings are unsecured, interest free and repayable on demand.
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Amounts owed to group undertakings are unsecured, interest free and repayable on demand.
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PLAYGROUND XYZ EMEA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Charged to profit or loss
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The company had a provision in respect of penalties and interest on tax liabilities at 31 December 2023. During the year this was settled and the provision released to the profit and loss. Further provisions for this matter are not expected.
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Allotted, called up and fully paid
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1 (2023 - 1) Ordinary Shares share of GBP1.00
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Related party transactions
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Playground XYZ EMEA Ltd has taken exemption under FRS 102, section 33 Related Party Disclosure paragraph 33.1A, whereby the company is not required to disclose transactions with other wholly owned subsidiaries and members of the group.
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Post balance sheet events
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Subsequent to the balance sheet date, the directors made the decision to cease trading. This decision was taken following a strategic review of the company’s future prospects and commercial viability. At the date of approval of these financial statements, the company had ceased all operational activities.
This event is considered a non-adjusting post balance sheet event as the conditions leading to the cessation did not exist at the balance sheet date. However, due to its significance, the directors have determined that disclosure is necessary to inform users of the financial statements.
As a result of this decision, the financial statements have been prepared on a basis other than going concern. Further details are provided in Note 2.2.
The immediate parent company is Playground (XYZ) Holdings Pty Ltd, a company incorporated in Australia. The ultimate controlling party is GumGum Inc., a company registered in the USA.
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PLAYGROUND XYZ EMEA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.
The audit report was signed on 24 September 2025 by Sally Casson (Senior Statutory Auditor) on behalf of Ecovis Wingrave Yeats LLP.
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