Company No: 06801773 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	4	37,612		66,030
Investments	5	1		1
		37,613		66,031
Current assets
Stocks		122,931		251,370
Debtors
- due within one year	6	2,834,209		3,866,119
- due after more than one year	6	2,642,258		2,534,744
Cash at bank and in hand		662,760		84,447
		6,262,158		6,736,680
Creditors: amounts falling due within one year	7	( 3,886,691)		( 5,009,381)
Net current assets		2,375,467		1,727,299
Total assets less current liabilities		2,413,080		1,793,330
Creditors: amounts falling due after more than one year	8	( 1,090,615)		( 553,250)
Provision for liabilities	9, 10	0		( 10,121)
Net assets		1,322,465		1,229,959
Capital and reserves
Called-up share capital	11	100		100
Profit and loss account		1,322,365		1,229,859
Total shareholders' funds		1,322,465		1,229,959

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of PQube Limited (registered number: 06801773) were approved and authorised for issue by the Director on 30 September 2025. They were signed on its behalf by:

Mr D Pain Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

PQube Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is St Christophers House, Ridge Road, Letchworth Garden City, SG6 1PT, United Kingdom. The principal place of business is The Spirella Building, Bridge Road, Letchworth Garden City, Hertfordshire, SG6 4ET.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

3 years straight line

Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, except where the director is satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the Company is expected to benefit. This period is between three and five years. Provision is made for any impairment.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	25		33

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 January 2024	163,000		163,000
At 31 December 2024	163,000		163,000
Accumulated amortisation
At 01 January 2024	163,000		163,000
At 31 December 2024	163,000		163,000
Net book value
At 31 December 2024	0		0
At 31 December 2023	0		0

4. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 January 2024	207,031		207,031
Additions	9,517		9,517
Disposals	( 18,051)		( 18,051)
At 31 December 2024	198,497		198,497
Accumulated depreciation
At 01 January 2024	141,001		141,001
Charge for the financial year	35,916		35,916
Disposals	( 16,032)		( 16,032)
At 31 December 2024	160,885		160,885
Net book value
At 31 December 2024	37,612		37,612
At 31 December 2023	66,030		66,030

5. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 January 2024	1		1
At 31 December 2024	1		1
Carrying value at 31 December 2024	1		1
Carrying value at 31 December 2023	1		1

6. Debtors

	2024		2023
	£		£
Debtors: amounts falling due within one year
Trade debtors	359,602		441,315
Amounts owed by connected companies	243,327		631,817
Other debtors	2,231,280		2,792,987
	2,834,209		3,866,119
Debtors: amounts falling due after more than one year
Other debtors	2,642,258		2,534,744

Included within other debtors are costs relating to computer games under development and are apportioned based on the projected release date of the games.

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans and overdrafts	1,482,315		763,638
Trade creditors	771,264		964,775
Amounts owed to related parties	122,800		249,000
Corporation tax	( 4,106)		89,095
Other taxation and social security	103,325		109,318
Other creditors	1,411,093		2,833,555
	3,886,691		5,009,381

Bank loans and overdrafts are secured by fixed and floating charge over all of the company's assets.

Included within other creditors are costs relating to computer games under development and are apportioned based on the projected release date of the games.

8. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	1,010,371		476,667
Other creditors	80,244		76,583
	1,090,615		553,250

Bank loans and overdrafts are secured by fixed and floating charge over all of the company's assets.

Included within other creditors are costs relating to computer games under development and are apportioned based on the projected release date of the games.

9. Provision for liabilities

	2024		2023
	£		£
Deferred tax	0		10,121

10. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	( 10,121)		( 8,475)
Credited/(charged) to the Profit and Loss Account	10,121		( 1,646)
At the end of financial year	0		( 10,121)

11. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

12. Financial commitments

Commitments

	2024		2023
	£		£
Total future minimum lease payments under non-cancellable operating lease	103,191		62,875

13. Related party transactions

Transactions with the entity's director

	2024		2023
	£		£
Directors Loan Account	254,443		220,000

The loan is unsecured, interest-free and repayable on demand.

Other related party transactions

	2024		2023
	£		£
Bawtry Hall Granary Ltd	237,027		237,027
Bawtry Hall Management Ltd	0		490
Bawtry Holdings Limited	0		350,000
Crown Hotel Holdings Limited	5,600		43,600
Bawtry Hall Property Ltd	0		(154,000)
Blaze Entertainment Limited	0		(75,000)
Rapture Interactive Ltd	(74,000)		(20,000)
Fluidsoft Ltd	(18,000)		0

Mr D Pain, the director of the company, is also a director in the above companies. The balances are unsecured, interest-free and repayable on demand.