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HATCHWORK STUDIOS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
Hatchwork Studios Limited is a private company limited by shares, incorporated in England and Wales under the Companies Act 2006, with registered number 13875746. The registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The Company is being dissolved under section 1000 of the Companies Act 2006 following the realisation and distribution of all assets and settlement of all liabilities. These are the final statutory accounts of the Company.
2.Accounting policies
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Basis of preparation of financial statements
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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 (FRS 102) issued by the Financial Reporting Council, the small companies regime under Part 15 of the Companies Act 2006, and applicable United Kingdom Generally Accepted Accounting Practice (UK GAAP).
As the Company is being wound down and dissolved, the financial statements have been prepared on a break-up basis rather than the going concern basis. All assets are measured at their estimated recoverable amounts and all liabilities are included at amounts expected to be required to settle them.
The following principal accounting policies have been applied:
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Intangible assets consisting of digital assests held for investment are determined to have an indefinite useful economic life. These assets are therefore not amortised but reviewed and tested for Impairment on regular basis. FRS 102 states that all intangible assets are deemed to have a finite life. Therefore to apply indefinite life requires a true and fair override of FRS 102. Indefinite life best reflects the substance of Digital assets.
Under the break-up basis of preparation, all digital assets held at the balance sheet date have been written down to their estimated net realisable value, being the market price on a recognised exchange at 31 January 2026, less estimated disposal costs.
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