REGISTERED NUMBER: 14695627 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2026

for

Ludonautics Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

I Graham

Dr P S Jackson

REGISTERED OFFICE:

HATS Gloucester Ltd

48 Hucclecote Road

Gloucester

GL3 3RS

REGISTERED NUMBER:

14695627 (England and Wales)

ACCOUNTANTS:

HATS Gloucester Ltd

48 Hucclecote Road

Gloucester

Gloucestershire

GL3 3RS

FIXED ASSETS

Tangible assets

4

4,762

3,807

CURRENT ASSETS

Debtors

5

733,861

275,382

Cash at bank

3,408,819

1,847,689

4,142,680

2,123,071

CREDITORS

Amounts falling due within one year

6

494,416

571,969

NET CURRENT ASSETS

3,648,264

1,551,102

TOTAL ASSETS LESS CURRENT LIABILITIES

3,653,026

1,554,909

CAPITAL AND RESERVES

Called up share capital

2

2

Other reserves

8

1,805

-

Retained earnings

8

3,651,219

1,554,907

SHAREHOLDERS' FUNDS

3,653,026

1,554,909

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 8 June 2026 and were signed on its behalf by:

I Graham - Director

1.	STATUTORY INFORMATION

Ludonautics 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.

Significant judgements and estimates

Valuation of share-based compensation

A share-based compensation expense related to EMI share options is recognised based on the fair value of the awards granted.

The fair value of each EMI option is estimated on the grant date using the Black-Scholes option pricing model. The Black-Scholes option pricing model requires the input of highly subjective assumptions, including the fair value of the underlying ordinary shares, the expected term of the option, the expected volatility of the price of the ordinary shares, risk-free interest rates, and the expected dividend yield of the ordinary shares. The assumptions used to determine the fair value of the option awards represent Management's best estimates. These estimates involve inherent uncertainties and the application of Management's judgement.

The total amount to be expensed over the vesting period is determined by reference to the fair value of the options. At the balance sheet date, the company revises its estimates of the number of options that are expected to vest.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Computer equipment

-

33% on cost

Taxation

Taxation for the year 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 statement of financial position date.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2025 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

Cost

At 1 April 2025

6,594

Additions

4,729

At 31 March 2026

11,323

Depreciation

At 1 April 2025

2,787

Charge for year

3,774

At 31 March 2026

6,561

Net book value

At 31 March 2026

4,762

At 31 March 2025

3,807

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/26

31/3/25

£

£

Trade debtors

686,800

238,223

Other debtors

47,061

37,159

733,861

275,382

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/26

31/3/25

£

£

Trade creditors

13,947

9,334

Taxation and social security

367,073

557,747

Other creditors

113,396

4,888

494,416

571,969

7.	LEASING AGREEMENTS

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

31/3/26

31/3/25

£

£

Within one year

6,821

6,821

Between one and five years

6,821

13,642

13,642

20,463

8.

RESERVES

Retained

Other

earnings

reserves

Totals

£

£

£

At 1 April 2025

1,554,907

-

1,554,907

Profit for the year

2,141,312

2,141,312

Dividends

(45,000

)

(45,000

)

Share option reserve

-

1,805

1,805

At 31 March 2026

3,651,219

1,805

3,653,024

9.	SHARE-BASED PAYMENT TRANSACTIONS

The company operated 2 EMI share option schemes during the year.

At 31 March 2026 1,500 £0.0001 share options were outstanding (2025 - Nil).

The weighted average price of the share options was £60.32 across the 2 schemes and the exercise prices were agreed with HMRC.

The share options will vest and become exercisable upon the the earliest of the following:

- An exit event, to include a business floatation or sale.

- The vesting dates (being 24 August 2034 and 13 September 2035 respectively).

- A disqualifying event.

During the year, a share based payment expense was recognised in the Income Statement of £1,805 (2025 - £Nil). The share option reserve at 31 March 2026 totalled £1,805 (2025 - Nil).

The Black-Scholes model was used to measure the fair value of the share options.