REGISTERED NUMBER: 14285167

MAVERICK GAMES LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Intangible assets

4

75,280

62,070

Tangible assets

5

1,137,404

503,642

1,212,684

565,712

CURRENT ASSETS

Debtors: amounts falling due within one year

6

7,554,391

245,732

Debtors: amounts falling due after more than one year

6

79,324

79,326

Cash at bank

5,077,009

1,394,546

12,710,724

1,719,604

CREDITORS

Amounts falling due within one year

7

(5,190,472

)

(962,344

)

NET CURRENT ASSETS

7,520,252

757,260

TOTAL ASSETS LESS CURRENT LIABILITIES

8,732,936

1,322,972

CAPITAL AND RESERVES

Called up share capital

9

1,000

1,000

Share premium account

1,237,114

1,237,114

Capital contribution reserve

8,962,287

6,781,207

Profit and loss account

(1,467,465

)

(6,696,349

)

SHAREHOLDERS' FUNDS

8,732,936

1,322,972

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

M P Brown - Director

1.	GENERAL INFORMATION

The company is a private company (limited by shares) incorporated and domiciled in England and Wales and its activities are detailed within the director's report. The company's registered office is 2nd Floor, 55 Ludgate Hill, London, EC4M 7JW.

The comparatives cover a period of just over 16 months.

The principal activity of the company is that of a studio for ready-made interactive leisure and entertainment software development.

2.	ACCOUNTING POLICIES

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

Exemption from preparing consolidated financial statements

The Company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.

Revenue

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

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.

The estimated useful lives range as follows:

Trademarks - 5 years

Tangible fixed assets

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:

Leasehold improvements - 25%

Office equipment - 25%

Computer equipment & software - 25%

The assets' residual value, 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.

Current and deferred taxation

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 in 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 generated income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currency translation

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.

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Going concern

The directors consider the going concern basis to be appropriate having paid due regard to the Company's projected results during the twelve months from the date the financial statements are approved and the anticipated cash flow availability support from its parent company.

Having regard to the above, the members believe it appropriate to adopt the going concern basis of accounting in preparing the financial statements.

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Debtors

Short-term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors

Short-term creditors are measured at the transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 67 (2023 - 27 ) .

4.	INTANGIBLE FIXED ASSETS

Trademarks

£

Cost

At 1 January 2024

70,062

Additions

29,897

At 31 December 2024

99,959

Amortisation

At 1 January 2024

7,992

Amortisation for year

16,687

At 31 December 2024

24,679

Net book value

At 31 December 2024

75,280

At 31 December 2023

62,070

5.	TANGIBLE FIXED ASSETS

Computer

Leasehold

equipment

Office

Improvements

& software

equipment

Totals

£

£

£

£

Cost

At 1 January 2024

1,513

598,130

6,768

606,411

Additions

95,366

741,950

10,256

847,572

At 31 December 2024

96,879

1,340,080

17,024

1,453,983

Depreciation

At 1 January 2024

348

101,800

621

102,769

Charge for year

5,862

204,489

3,459

213,810

At 31 December 2024

6,210

306,289

4,080

316,579

Net book value

At 31 December 2024

90,669

1,033,791

12,944

1,137,404

At 31 December 2023

1,165

496,330

6,147

503,642

6.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

3,657,341

718

Other debtors

251,151

43,568

Tax recoverable

3,210,265

-

Prepayments

435,634

201,446

7,554,391

245,732

Amounts falling due after more than one year:

Other debtors

79,324

79,326

Aggregate amounts

7,633,715

325,058

During the year the company submitted a video games tax relief claim, totalling £3,210,265 (2023: £Nil), which was accepted by HMRC. This amount is included within tax recoverables.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

-

108

Trade creditors

315,996

69,446

Amounts owed to group undertakings

-

2,999

Other taxation and social security

1,044,304

819,166

Other creditors

90,261

32,183

Accruals

110,878

38,442

Deferred income

3,629,033

-

5,190,472

962,344

8.	COMMITMENTS UNDER OPERATING

LEASES

At 31 December 2024 the company had a total of £13,221 (2023: £171,783) of non-cancellable operating lease commitments ending on 25 January 2025.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

7,100

A Ordinary Shares

£0.10

710

710

2,900

B Ordinary Shares

£0.10

290

290

1,000

1,000

10.	AUDITORS' INFORMATION

The Auditors' Report was unqualified.

Jemima King (Senior Statutory Auditor)

for and on behalf of Richardsons Financial Group Limited

11.	OTHER FINANCIAL COMMITMENTS

Amazon.com Services LLC hold a fixed charge over the secured assets held by the company, this charge was registered on 14 June 2024.

12.	RELATED PARTY TRANSACTIONS

Included within capital and reserves is capital contribution reserve of £8,962,287 (2023: £6,781,207) payable to its parent company.

Included in other debtors is an amount of £Nil (2023: £224) receivable from one of the founders.

Included in creditors due within one year is amount of £Nil (2023: £2,999) payable to a company under common control of the wider group.

The company has taken advantage of the exemption available in FRS 102 from disclosing transactions with fellow group undertakings on the basis it is a 100% owned subsidiary within the group.

13.	ULTIMATE CONTROLLING PARTY

The immediate controlling parties are M.P. Brown and ERA Maverick Limited, which is incorporated and domiciled in England and Wales. The address of the registered office is 2nd Floor, 55 Ludgate Hill, London, EC4M 7JW.

ERA Interactive GP Ltd, is the company's ultimate controlling party.