ACCOUNTS - Final Accounts

Registered number: 09743025

FUNFAIR TECHNOLOGIES LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2025

FUNFAIR TECHNOLOGIES LIMITED

REGISTERED NUMBER: 09743025

STATEMENT OF FINANCIAL POSITION

AS AT 30 JUNE 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	3		1,047		1,658,306
Tangible assets	4		10,245		12,064
Investments			1,309,416		1,763,854
			1,320,708		3,434,224
Current assets
Debtors: amounts falling due within one year	5	112,643		144,047
Cash at bank and in hand	6	401,547		3,088,924
		514,190		3,232,971
Creditors: amounts falling due within one year	7	(1,119,274)		(1,083,157)
Net current (liabilities)/assets			(605,084)		2,149,814
Total assets less current liabilities			715,624		5,584,038
Creditors: amounts falling due after more than one year	8		(11,093,361)		(11,238,737)

Net liabilities			(10,377,737)		(5,654,699)

Capital and reserves
Called up share capital	10	10
Profit and loss account	(10,377,747)	(5,654,709)
	(10,377,737)	(5,654,699)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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FUNFAIR TECHNOLOGIES LIMITED

REGISTERED NUMBER: 09743025

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 30 JUNE 2025

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 January 2026.

M O'Connor

Director

The notes on pages 4 to 9 form part of these financial statements.

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		FUNFAIR TECHNOLOGIES LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 JUNE 2025

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 July 2023	10	1,537,396	1,537,406

Loss for the year	-	(7,192,105)	(7,192,105)

At 1 July 2024	10	(5,654,709)	(5,654,699)

Loss for the year	-	(4,723,038)	(4,723,038)
At 30 June 2025	10	(10,377,747)	(10,377,737)

The notes on pages 4 to 9 form part of these financial statements.

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FUNFAIR TECHNOLOGIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

1.	General information

Funfair Technologies Ltd is a private company, limited by shares, and incorporated in England and Wales
(registration number: 09743025). The registered office is 101 New Cavendish Street, London, England,
W1W 6XH.

2.Accounting policies

2.1

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 requirements and 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:

2.2

Going concern

In assessing the ability of the Company to operate as a going concern, management have evaluated
current and forecasted operational results, and the solvency of the Company. Given that the Company is in a net deficit position, the director has obtained assurances from its immediate and ultimate parent companies to continue to provide adequate funds to meet its obligations, and not demand repayment of any funds due to them, until the Company is in a financial positions to do so. As a result, the director considers it appropriate to prepare the financial statements on a going concern basis.

2.3

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.

2.4

Interest income

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

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FUNFAIR TECHNOLOGIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

2.Accounting policies (continued)

2.5

Finance costs

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.

2.6

Pensions

Defined contribution schemes

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 profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

2.7

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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Intangible assets consisting of digital assests held for investment are determined to have an indefinite useful economic life. These assets are therefore not amortised but reviewed and tested for impairment on a regular basis

2.8

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:

				Office equipment	-	20%	straight line over 5 years
				Computer equipment	-	33%	straight line over 3 years

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FUNFAIR TECHNOLOGIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

2.Accounting policies (continued)

2.9

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.12

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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FUNFAIR TECHNOLOGIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

3.	Intangible assets

		Digital assets
		£
	Cost
	At 1 July 2024	3,139,579
	Additions	-
	Disposals	(1,655,454)
	Revaluation surplus	(1,805)
	At 30 June 2025	1,482,320
	Amortisation
	At 1 July 2024	1,481,273
	At 30 June 2025	1,481,273
	Net book value
	At 30 June 2025	1,047
	At 30 June 2024	1,658,306

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FUNFAIR TECHNOLOGIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

4.	Tangible fixed assets

	Office equipment	Computer equipment	Total
	£	£	£
Cost or valuation
At 1 July 2024	8,107	42,713	50,820
Additions	-	10,572	10,572
At 30 June 2025	8,107	53,285	61,392
Depreciation
At 1 July 2024	301	38,454	38,755
Charge for the year on owned assets	580	11,812	12,392
At 30 June 2025	881	50,266	51,147
Net book value
At 30 June 2025	7,226	3,019	10,245
At 30 June 2024	7,806	4,259	12,065

5.	Debtors
		2025	2024
		£	£

	Due after more than one year

					2025	2024
					£	£

Due within one year
Other debtors	66,027	63,167
Prepayments and accrued income	46,616	80,880
	112,643	144,047

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FUNFAIR TECHNOLOGIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

6.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	401,547	3,088,924
	401,547	3,088,924

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	25,857	55,457
Amounts owed to group undertakings	985,558	938,697
Other taxation and social security	74,304	64,187
Other creditors	-	15,011
Accruals and deferred income	33,555	9,805
	1,119,274	1,083,157

8.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Amounts owed to group undertakings	11,093,361	11,238,737
	11,093,361	11,238,737

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