REGISTERED NUMBER: 11650570 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2025

for

FALLEN FLAG STUDIO LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

F Barsotti

J Costantini

REGISTERED OFFICE:

Kings Chambers, Office 10

Queen Street

Derby

United Kingdom

DE1 3DS

REGISTERED NUMBER:

11650570 (England and Wales)

ACCOUNTANTS:

Plus Accounting

Chartered Accountants

Preston Park House

South Road

Brighton

East Sussex

BN1 6SB

FIXED ASSETS

Intangible assets

4

6,233

2,400

Tangible assets

5

991

1,835

7,224

4,235

CURRENT ASSETS

Debtors

6

18,010

17,593

Cash at bank

34,092

71,766

52,102

89,359

CREDITORS

Amounts falling due within one year

7

(6,716

)

(6,085

)

NET CURRENT ASSETS

45,386

83,274

TOTAL ASSETS LESS CURRENT LIABILITIES

52,610

87,509

PROVISIONS FOR LIABILITIES

8

(188

)

(349

)

NET ASSETS

52,422

87,160

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

52,420

87,158

SHAREHOLDERS' FUNDS

52,422

87,160

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.

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 31 July 2026 and were signed on its behalf by:

F Barsotti - Director

1.	STATUTORY INFORMATION

Fallen Flag 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

Turnover is recognised as contract activity progresses in line with pre-determined milestone targets before the games release to the general public.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation. Intangible assets are amortised on a straight-line basis over their estimated useful economic life of 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

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

Plant and machinery

- 20% reducing balance

Computer equipment

- straight line over 3 years

Fixt & fittings

- 20% on cost

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

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.

Impairment

At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 November 2024

2,400

Additions

6,126

At 31 October 2025

8,526

AMORTISATION

Charge for year

2,293

At 31 October 2025

2,293

NET BOOK VALUE

At 31 October 2025

6,233

At 31 October 2024

2,400

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 November 2024

529

865

9,788

11,182

Additions

-

-

603

603

At 31 October 2025

529

865

10,391

11,785

DEPRECIATION

At 1 November 2024

390

639

8,318

9,347

Charge for year

27

57

1,363

1,447

At 31 October 2025

417

696

9,681

10,794

NET BOOK VALUE

At 31 October 2025

112

169

710

991

At 31 October 2024

139

226

1,470

1,835

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

18,010

17,593

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other creditors

6,716

6,085

8.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

188

349

Deferred tax

£

Balance at 1 November 2024

349

Provided during year

(161

)

Accelerated capital allowances

Balance at 31 October 2025

188

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

2

Ordinary

£1.00

2

2