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Registered number: 03282545
Full Fat Productions Limited
Financial Statements
For The Year Ended 30 November 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03282545
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 100,811 129,837
100,811 129,837
CURRENT ASSETS
Debtors 5 371,556 348,982
Cash at bank and in hand 90 3,902
371,646 352,884
Creditors: Amounts Falling Due Within One Year 6 (621,830 ) (223,904 )
NET CURRENT ASSETS (LIABILITIES) (250,184 ) 128,980
TOTAL ASSETS LESS CURRENT LIABILITIES (149,373 ) 258,817
Creditors: Amounts Falling Due After More Than One Year 7 (127,935 ) (111,195 )
NET (LIABILITIES)/ASSETS (277,308 ) 147,622
CAPITAL AND RESERVES
Called up share capital 10 2,101 2,101
Share premium account 24,990 24,990
Profit and Loss Account (304,399 ) 120,531
SHAREHOLDERS' FUNDS (277,308) 147,622
Page 1
Page 2
For the year ending 30 November 2025 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 P J Adams
Director
18th September 2026
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Full Fat Productions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03282545 . The registered office is Westgate House, Brook Street, Warwick, Warwickshire, CV34 4BL.
The presentation currency of the financial statements is the Pound Sterling (£).
The financial statements are rounded to the nearest £1.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
Dispite the company being loss making during the year to the extent that the balance sheet shows substantial net liabilities.  The company has benefited from financial support of the director. will benefit from a substantial Video Games Tax Relief (VGTR) claim, has securred a substatial project which will increase the turnover in 2025/26 and has taken action to substantial reduce it's staff and other operating costs.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of rendering of services, including advertising revenues and video games development projects. 
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% on cost
Fixtures & Fittings 25% on cost
Computer Equipment 33.3% on cost
2.5. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.6. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined contribution pension scheme. Contributions payable to the company's pensionscheme are charged to profit or loss in the period to which they relate.
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
2.9. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
The company benefits from Video Games Tax Relief (VGTR) due to it's qualifying activities, which results in significant tax benefits and credits.
The VGTR claim is prepared by independent tax specialists in arrears after the completion of the statutory financial statement's.
The value of the tax credits is substantial but cannot be estimated with any degree of certainty until it is such time the claim is prepared, submitted and accepted by the tax authorities.
The company does not recognize a tax debtor and credit the tax charge in the current years profit and loss account.
The 2025 tax charge is therefore the credit for the year ended 30th November 2024 - and the 2024 tax charge is the credit for the year ended 30th November 2023.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 19 (2024: 21)
19 21
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4. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 December 2024 812,690
As at 30 November 2025 812,690
Depreciation
As at 1 December 2024 682,853
Provided during the period 29,026
As at 30 November 2025 711,879
Net Book Value
As at 30 November 2025 100,811
As at 1 December 2024 129,837
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 189,981 121,957
Prepayments and accrued income 4,448 4,272
Corporation tax recoverable assets 168,175 144,659
VAT 8,952 831
Director's loan account - 77,263
371,556 348,982
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 16,762 16,762
Trade creditors 33,834 3,961
Bank loans and overdrafts 85,559 52,199
Other loans 10,167 -
PAYE 88,245 49,085
Net wages 182,488 42,764
Other creditors - 12,077
Pension creditor 31,274 10,958
Accruals and deferred income 53,431 36,098
Director's loan account 120,070 -
621,830 223,904
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7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 92,409 96,464
Bank loans 12,078 14,731
Other loans 23,448 -
127,935 111,195
8. Secured Creditors
Of the creditors the following amounts are secured.
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 109,171 113,226
Bank loans and overdrafts 77,999 44,638
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 16,762 16,762
Later than one year and not later than five years 92,409 96,464
109,171 113,226
109,171 113,226
10. Share Capital
2025 2024
Allotted, called up and fully paid £ £
101 Ordinary Shares of £ 1.00 each 101 101
1,000 Ordinary A shares of £ 1.00 each 1,000 1,000
1,000 Ordinary B shares of £ 1.00 each 1,000 1,000
2,101 2,101
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2024 Amounts advanced Amounts repaid Amounts written off As at 30 November 2025
£ £ £ £ £
Mr Paul Adams 77,263 - 77,263 - -
Interest was applied to the loan at 2.25% per annum.
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