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Registered number:06335282 (England & Wales)
| AWAY STUDIOS SOFTWARE LIMITED |
| DIRECTOR'S REPORT AND UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2023 |
| Pages for Filing with Registrar |
AWAY STUDIOS SOFTWARE LIMITED
CONTENTS
| Page
Company Information | 1
Balance Sheet | 2 - 3
Statement of Changes in Equity | 4
Notes to the Financial Statements | 5 - 9
AWAY STUDIOS SOFTWARE LIMITED
COMPANY INFORMATION
Director | Robert Bateman
Company secretary | Susanne Watkins
Registered number | 06335282
Registered office | 40 Queen Anne Street
| London
| W1G 9EL
Accountants | Lewis Golden LLP
| 40 Queen Anne Street
| London
| W1G 9EL
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Registered number:06335282 (England & Wales) AWAY STUDIOS SOFTWARE LIMITED
BALANCE SHEET AS AT 31 AUGUST 2023
|  | 2023 |  | As restated 2022
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible fixed assets | 5 |  | 2,716 |  | 2,797
Current assets |  |  |  |  |
Debtors | 6 | 12,660 |  | 11,455 |
Cash at bank and in hand |  | 241,813 |  | 134,001 |
|  | 254,473 |  | 145,456 |
Creditors: amounts falling due within one year | 7 | (110,719) |  | (58,574) |
Net current assets |  |  | 143,754 |  | 86,882
Total assets less current liabilities |  |  | 146,470 |  | 89,679
Net assets |  |  | 146,470 |  | 89,679
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 1 |  | 1
Profit and Loss account |  |  | 146,469 |  | 89,678
Total equity |  |  | 146,470 |  | 89,679
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Registered number:06335282 (England & Wales) AWAY STUDIOS SOFTWARE LIMITED
BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2023 The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and the member has not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his 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 prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. The company has opted not to file the Director's Report and Profit and Loss Account in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved by the director:
Robert Bateman
Director
Date: 2 April 2026
The notes on pages 5 to 9 form part of these financial statements. - 3 -
AWAY STUDIOS SOFTWARE LIMITED
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 AUGUST 2023
| Called up share capital | As restated Profit and loss account | As restated Total equity
| £ | £ | £
At 1 September 2021 | 1 | 60,270 | 60,271
Comprehensive income for the year |  |  |
Profit for the year | - | 59,062 | 59,062
Total comprehensive income for the year | - | 59,062 | 59,062
Contributions by and distributions to owners |  |  |
Dividends | - | (29,654) | (29,654)
Total transactions with owners | - | (29,654) | (29,654)
At 1 September 2022 | 1 | 89,678 | 89,679
Comprehensive income for the year |  |  |
Profit for the year | - | 83,385 | 83,385
Total comprehensive income for the year | - | 83,385 | 83,385
Contributions by and distributions to owners |  |  |
Dividends | - | (26,594) | (26,594)
Total transactions with owners | - | (26,594) | (26,594)
At 31 August 2023 | 1 | 146,469 | 146,470
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AWAY STUDIOS SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
1. | General information
Away Studios Software Limited is a private company limited by share capital, incorporated in England & Wales, registered number 06335282. The address of the registered office is 40 Queen Anne Street, London, W1G 9EL. 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 Section 1A - small entities of Financial Reporting Standard 102, ('FRS 102'), the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The previous year ended 31 August 2022 was prepared under FRS 105. There are no material changes as a result of the transition to FRS 102 on 1 September 2022. The following principal accounting policies have been applied:
| 2.2 | Going concern
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 of preparation for these financial statements.
| 2.3 | Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover 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 turnover is recognised: Rendering of services Turnover from a contract to provide services is recognised in the year 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 turnover 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. - 5 -
AWAY STUDIOS SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 2.Accounting policies (continued)
| 2.4 | 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 year 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 year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Profit and Loss Account except when deferred in other comprehensive income as qualifying cash flow hedges.
| 2.5 | Taxation
Tax is recognised in the Profit and Loss Account. 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.
| 2.6 | 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:
|  |  |  | Computer equipment | - | 33% | straight-line
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 the Profit and Loss Account.
| 2.7 | Debtors
Short-term debtors are measured at the transaction price, less any impairment. - 6 -
AWAY STUDIOS SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 2.Accounting policies (continued)
| 2.8 | Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions repayable without penalty and other 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.
| 2.9 | Creditors
Short-term creditors are measured at the transaction price.
| 2.10 | Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
| 2.11 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Employees
The average monthly number of employees, including the director, during the year was 1 (2022 -1).
4. | Prior year adjustment
During the year the director identified a prior period error relating to the classification of director related transactions in the preceding two financial years. Amounts paid to the director had previously been recorded entirely as salary. Following a review, these amounts have been correctly apportioned between salary, dividends, reimbursement of expenses and movements on the director’s loan account. The corresponding tax has also been updated to reflect the adjustment. As a result, the comparative figures have been restated and the opening balance of reserves as at 1 September 2022 has been adjusted. The cumulative effect of the correction is a increase in profit for the prior year of £33,364, an increase in the profit for the year ended 31 August 2021 of £34,234, and an increase in brought forward reserves of £5,903. - 7 -
AWAY STUDIOS SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
5. | Tangible fixed assets
|  | Computer equipment
|  | £
| Cost |
| At 1 September 2022 | 24,964
| Additions | 1,265
| Disposals | (19,370)
| At 31 August 2023 | 6,859
| Depreciation |
| At 1 September 2022 | 22,167
| Charge for the year | 1,346
| Disposals | (19,370)
| At 31 August 2023 | 4,143
| Net book value |
| At 31 August 2023 | 2,716
| At 31 August 2022 | 2,797
6. | Debtors
|  |  |  |  | 2023 | 2022
|  |  |  |  | £ | £
| Trade debtors | 2,905 | -
| Amounts owed by group undertakings | - | 7,891
| Prepayments and accrued income | 8,176 | -
| Tax recoverable | 1,579 | 3,564
|  | 12,660 | 11,455
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AWAY STUDIOS SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
7. | Creditors: amounts falling due within one year
|  |  |  |  | 2023 | As restated 2022
|  |  |  |  | £ | £
| Corporation tax | 54,454 | 16,808
| Other creditors | 31,819 | 30,284
| Accruals and deferred income | 24,446 | 11,482
|  | 110,719 | 58,574
8. | Related party transactions
At the balance sheet date, the company owed the director £31,819 (2022 as restated - £30,284). The balance is interest free and repayable on demand. During the year, the company paid dividends of £26,594 (2022 as restated - £29,654) to the director, advanced £18,756 (2022 as restated - £17,641) to the director and £20,291 (2022 - £29,508) was repaid by the director.
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