REGISTERED NUMBER: 05271374 (England and Wales)

INVINCIBLES STUDIO LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A R Gore

Mr C J Gore

Mercia Fund Management (Nominees) Limited

Mr N C Wheelwright

Mr M A Lowe

Mrs C Ralley

SECRETARY:

Mr C J Gore

REGISTERED OFFICE:

Shorrock House

1 Faraday Court

Fulwood

Preston

Lancashire

PR2 9NB

REGISTERED NUMBER:

05271374 (England and Wales)

ACCOUNTANTS:

Rushtons

Chartered Accountants

Shorrock House

1 Faraday Court

Fulwood

Preston

Lancashire

PR2 9NB

BANKERS:

Coutts & Co

440 Strand

London

WC2R 0QS

FIXED ASSETS

Intangible assets

4

2,448,105

2,288,609

Tangible assets

5

23,928

21,406

Investments

6

100

100

2,472,133

2,310,115

CURRENT ASSETS

Debtors

682,870

815,594

Cash at bank

440,695

241,719

1,123,565

1,057,313

CREDITORS

Amounts falling due within one year

1,801,025

1,299,310

NET CURRENT LIABILITIES

(677,460

)

(241,997

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,794,673

2,068,118

CREDITORS

Amounts falling due after more than one year

603,157

787,500

NET ASSETS

1,191,516

1,280,618

CAPITAL AND RESERVES

Called up share capital

620

620

Share premium

7,025,982

7,025,982

Retained earnings

(5,835,086

)

(5,745,984

)

SHAREHOLDERS' FUNDS

1,191,516

1,280,618

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 October 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2026 and were signed on its behalf by:

Mr C J Gore - Director

1.	STATUTORY INFORMATION

Invincibles Studio Ltd 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.

Turnover

Turnover represents the gross consideration received for In-app purchases and advertising services, before the deduction of assessed platform commissions, network fees and other deductions. The Company recognises the full amount paid by the customer as revenue, while associated third-party costs, including local levies distributed by platform providers, are recorded within Cost of Sales.

Intangible assets

The core match engine asset is considered to have a permanently useful economic life. The core code relating to the match function, player behaviour, ball physics etc will remain relevant for any future iteration of the match engine even if the core language and system architecture were to change. In this way, whilst repair and renewal work may change in a given year, the underlying engine will remain economically useful for both the company and any third party which might seek to license its use. Providing the repair and renewal work is maintained annually, the company considers that the material value of the asset should not depreciate in any meaningful way and will continue to be a core function of any associated games and their revenue performance. Accordingly, nil depreciation will be applied. This policy will be reviewed annually as part of the annual accounts.

Domain name assets are currently not being depreciated and are reflected in the annual accounts at cost value.

Intangible fixed assets

Tangible fixed assets

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

Improvements to property

-

Straight line over 5 years

Plant and machinery

-

33% on cost

Office equipment

-

10% on cost

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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 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 year 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 41 (2024 - 51 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2024

2,302,045

Additions

161,587

At 31 October 2025

2,463,632

AMORTISATION

At 1 November 2024

13,436

Amortisation for year

2,091

At 31 October 2025

15,527

NET BOOK VALUE

At 31 October 2025

2,448,105

At 31 October 2024

2,288,609

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2024

127,867

Additions

16,974

At 31 October 2025

144,841

DEPRECIATION

At 1 November 2024

106,461

Charge for year

14,452

At 31 October 2025

120,913

NET BOOK VALUE

At 31 October 2025

23,928

At 31 October 2024

21,406

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 November 2024

and 31 October 2025

100

NET BOOK VALUE

At 31 October 2025

100

At 31 October 2024

100

7.	RELATED PARTY DISCLOSURES

8.	ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of its directors.