Pengwin Friends Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: 16272045

		31 May 2026
	Notes	£	£
CURRENT ASSETS
Debtors	4	737,304

		737,304
Creditors: Amounts Falling Due Within One Year	5	(751,631 )

NET CURRENT ASSETS (LIABILITIES)			(14,327 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(14,327 )

NET LIABILITIES			(14,327 )

CAPITAL AND RESERVES
Called up share capital	6		1
Profit and Loss Account			(14,328 )

SHAREHOLDERS' FUNDS			(14,327)

Page 1

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Pengwin Friends Ltd

Balance Sheet (continued)

As At 31 May 2026

For the period ending 31 May 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr John Giwa-Amu

Director

15 July 2026

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

Pengwin Friends Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 16272045 . The registered office is Unit D, Tramshed Tech, Pendyris Street, Cardiff, CF11 6BH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is recognised at the fair value of the consideration received or receivable for products provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of video game licences is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch or download) , the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.3. Taxation

The tax currently payable is based on taxable profit for the year. The amount of tax reported includes corporation tax charged on the Audio Visual Expenditure Credit which is included in sales. A deferred tax asset has not been recognised in relation to the losses available as the company cannot be certain that this asset will be used in the future.

3. Average Number of Employees

Average number of employees, including directors, during the period was: NIL

4. Debtors

	31 May 2026
	£
Due within one year
Other debtors	737,304

5. Creditors: Amounts Falling Due Within One Year

	31 May 2026
	£
Amounts owed to participating interests	748,431
Other creditors	3,200

	751,631

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Pengwin Friends Ltd

Notes to the Financial Statements (continued)

For the Period 24 February 2025 to 31 May 2026

6. Share Capital

	31 May 2026
	£
Allotted, Called up and fully paid	1

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