REGISTERED NUMBER: 10449910 (England and Wales)

FINANCIAL STATEMENTS

FOR THE PERIOD

1 NOVEMBER 2023 TO 31 DECEMBER 2024

FOR

THIRD KIND GAMES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R Tharanee

G Langourieux

REGISTERED OFFICE:

The Old School

Holly Walk

Leamington Spa

Warwickshire

CV32 4JG

REGISTERED NUMBER:

10449910 (England and Wales)

AUDITORS:

HB&O Ltd

Chartered Accountants and Statutory Auditor

Highdown House

11 Highdown Road

Leamington Spa

Warwickshire

CV31 1XT

BANKERS:

Coutts & Co

440 Strand

London

WC2R 0QS

FIXED ASSETS

Tangible assets

4

144,951

136,848

Investments

5

940

4,127

145,891

140,975

CURRENT ASSETS

Debtors

6

1,508,084

2,098,405

Cash at bank and in hand

1,044,302

344,330

2,552,386

2,442,735

CREDITORS

Amounts falling due within one year

7

463,576

314,903

NET CURRENT ASSETS

2,088,810

2,127,832

TOTAL ASSETS LESS CURRENT LIABILITIES

2,234,701

2,268,807

PROVISIONS FOR LIABILITIES

-

25,882

NET ASSETS

2,234,701

2,242,925

CAPITAL AND RESERVES

Called up share capital

9

1,297

1,284

Share premium

10

118,973

99,616

Retained earnings

10

2,114,431

2,142,025

SHAREHOLDERS' FUNDS

2,234,701

2,242,925

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 22 December 2025 and were signed on its behalf by:

G Langourieux - Director

1.	STATUTORY INFORMATION

Third Kind 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.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

The financial statements are presented in sterling which is the functional currency of the company and is rounded to the nearest £1.

The reporting period has been extended from a 12-month period ending 31 October 2023, to a 14-month period ending 31 December 2024, due to a strategic decision to align the financial year with the company's new ultimate controlling party.

Consequently, the financial statements and disclosures for this period are not entirely comparable with the prior year.

Preparation of consolidated financial statements

The financial statements contain information about Third Kind Games Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

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.

Turnover

Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal course of business. Revenue is recognised in respect of service contracts when the company obtains the right to consideration.

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.

Intellectual property has now been fully amortised.

Tangible fixed assets

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

Short leasehold

-

Straight line over 3 years

Fixtures, fittings & furniture

-

5 years straight line

Computer equipment

-

Straight line over 3 years

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the period 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 period 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.

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.

Share based payments

Where share options are awarded, the fair value of the options at the date of grant is charged to the Income Statement over the vesting period. The total amount to be expensed over the vesting period is determined by reference to the fair value of the options granted at the date of the grant, excluding the impact of any non-market vesting conditions.

At each balance sheet date the company revises its estimates of the number of options that are expected to vest. It recognises the impact of the revision to the original estimates, if any, in the Income Statement. The credit entry is taken to reserves because the share options are equity-settled.

Where equity instruments are granted to persons other than employees, the Income Statement is charged with the fair value of goods and services received.

The share options are exercisable on the share capital of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 70 (2023 - 73 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures,

Short

fittings

Computer

leasehold

& furniture

equipment

Totals

£

£

£

£

COST

At 1 November 2023

16,168

49,022

335,725

400,915

Additions

-

10,491

105,407

115,898

Disposals

-

(8,559

)

(124,127

)

(132,686

)

At 31 December 2024

16,168

50,954

317,005

384,127

DEPRECIATION

At 1 November 2023

16,168

32,358

215,541

264,067

Charge for period

-

10,905

96,664

107,569

Eliminated on disposal

-

(8,559

)

(123,901

)

(132,460

)

At 31 December 2024

16,168

34,704

188,304

239,176

NET BOOK VALUE

At 31 December 2024

-

16,250

128,701

144,951

At 31 October 2023

-

16,664

120,184

136,848

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 November 2023

4,127

Disposals

(3,187

)

At 31 December 2024

940

NET BOOK VALUE

At 31 December 2024

940

At 31 October 2023

4,127

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Trade debtors

1,198,978

710,933

Amounts owed by group undertakings

2,979

14,084

Other debtors

25,150

25,150

Tax

198,660

1,108,034

VAT

-

15,889

Prepayments and accrued income

82,317

224,315

1,508,084

2,098,405

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Trade creditors

44,851

103,929

Amounts owed to group undertakings

6,000

-

Social security and other taxes

148,537

130,268

VAT

89,614

-

Other creditors

34,203

46,876

Accruals and deferred income

140,371

33,830

463,576

314,903

8.	LEASING AGREEMENTS

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

2024

2023

as restated

£

£

Within one year

100,000

100,000

Between one and five years

150,000

264,722

250,000

364,722

9.	CALLED UP SHARE CAPITAL

Allotted issued and fully paid:

Number:

Class:

Nominal value:

2024

2023

£

£

1,296,969

Ordinary

£0.001

1,297

1,284

10.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 November 2023

2,204,679

99,616

2,304,295

Prior year adjustment

(62,654

)

(62,654

)

2,142,025

2,241,641

Deficit for the period

(27,594

)

(27,594

)

Cash share issue

-

19,357

19,357

At 31 December 2024

2,114,431

118,973

2,233,404

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

The Report of the Auditors was unqualified.

The financial statements for the year ended 31 October 2023 were not audited. We were appointed auditors in 2025. In forming our opinion, we have considered the comparative figures and disclosures and our opinion is not qualified in this respect.

Gregg Olner MPhil BA (Hons) FCA (Senior Statutory Auditor)

for and on behalf of HB&O Ltd

12.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme in respect of certain employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £216,826 (2023 - £245,819). Balance outstanding at the period end amounted to £33,338 (2023 - £29,064).

13.	ULTIMATE CONTROLLING PARTY

Virtuos Holdings Pte. Ltd is regarded as the ultimate parent entity and is the only group that consolidates this company.

14.	SHARE-BASED PAYMENT TRANSACTIONS

Certain individuals participate in an equity compensation plan. The plan is administered by the company's Board of Directors, which has the authority to determine which individuals are granted stock option awards. Upon exercise, the option awards are settled in shares and cannot be settled in cash. The costs of this scheme are disclosed in the preceding notes and have been made in order to match relevant expenditure and changes in equity.

A summary of stock option activity for company employees for the period ended 31 December 2024 is as follows:

Option shares

Weighted average exercise price

Outstanding at 1 November 2023

12,969

£1.49

Granted

-

£1.49

Exercised

(12,969

)

-

Forfeited or expired

-

£1.49

Outstanding at 31 December 2024

-

£1.49

Exercisable at 31 December 2024

-

-

15.	CONTROLLING INTERESTS

The company's controlling party is Virtuos Holdings PTE. Ltd.