Registration number:
Battlestate Games Limited
for the Year Ended 31 January 2026
Battlestate Games Limited
Company Information
|
Director |
Olga Krogh |
|
Registered office |
|
|
Auditors |
|
Battlestate Games Limited
Strategic Report for the Year Ended 31 January 2026
The director presents the strategic report and the financial statements for the year ended 31 January 2026.
Principal activity
The principal activity of the company is that of gaming software sales.
Fair review of the business
No significant changes are anticipated in the activities of the company for the foreseeable future.
Following the debut of Escape from Tarkov: Arena in late 2023, this new title now contributes to the revenue of the company.
The company continued investing appropriate resources in development of the titles that it sells. The development costs are part of the operating expenses of the company and aimed at generating income in the future.
Principal risks and uncertainties
The company has established controls to mitigate the following risks appropriate to the size and complexity of the business.
Cash flow risks: The company has established cash forecasting models to manage cash flow.
There may be additional risks and uncertainties not currently known or that are not currently believed to be material.
Approved and authorised by the
|
......................................... |
Battlestate Games Limited
Director's Report for the Year Ended 31 January 2026
The
director presents the
annual report and the
financial statements
for the
year ended 31 January 2026.
The company’s business activities, together with factors likely to affect its future development, its financial position and financial risk management position are described in the Strategic Report.
Results and dividends
The results for the year described on page 9.
The director does not recommend payment of a dividend.
Director of the company
The director who held office during the year was as follows:
The following director was appointed after the year end:
Disclosure of information to the auditors
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information on which the company’s auditor is unaware. Additionally, the director has taken all the necessary steps that she ought to have taken as a director in order to make herself aware of all relevant audit information and to establish that the company’s auditor is aware of that information.
• The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
Approved and authorised by the
|
......................................... |
Battlestate Games Limited
Statement of Director's Responsibilities
The director acknowledges her responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless she is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:
|
• |
select suitable accounting policies and apply them consistently; |
|
• |
make judgements and accounting estimates that are reasonable and prudent; |
|
• |
state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
|
• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable her to ensure that the financial statements comply with the Companies Act 2006. She is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Battlestate Games Limited
Independent Auditor's Report to the Members of Battlestate Games Limited
Opinion
We have audited the financial statements of Battlestate Games Limited (the 'company') for the year ended 31 January 2026, which comprise the Profit and Loss Account, Profit and Loss Account and Statement of Retained Earnings, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 January 2026 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
Other information
The director are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Battlestate Games Limited
Independent Auditor's Report to the Members of Battlestate Games Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
|
• |
the information given in the Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
|
• |
the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Director's Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of director's remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of the director
As explained more fully in the Statement of Director's Responsibilities [set out on page 4], the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Battlestate Games Limited
Independent Auditor's Report to the Members of Battlestate Games Limited
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Irregularities are instances or non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non - compliance with laws and regulations identified during the audit.
In relation to fraud, the objectives or our audit are to identify and assess the risk or material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.
However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity’s operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team:
•obtained an understanding or the nature of the industry and sector, including the legal and regulatory framework that the company operates in and how the company is complying with the legal and regulatory framework:
•inquired of management, and those charged with governance, about their own identification and assessment of the risks of irregularities including any known actual, suspected or alleged instances of fraud.
•discussed matters about non-compliance with laws and, regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud.
As a result of these procedures, we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102 and compliance with the Companies Act 2006 and Tax compliance regulations. We performed audit procedures to detect non-compliances which may have a material impact on the financial statements which included, reviewing financial statement disclosures, inspecting correspondence with local tax authorities, and evaluating advice received from internal/external tax advisors.
The audit engagement team identified the risk of management override of controls and revenue recognition as the areas where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing the appropriateness of journal entries and other adjustments, evaluating the business rationale in relation to significant, unusual transactions and entered outside the normal course or business, and testing the recognition of a sample of revenue items with reference to the relevant supporting documentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
Battlestate Games Limited
Independent Auditor's Report to the Members of Battlestate Games Limited
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
......................................
For and on behalf of
585A Fulham Road
London
SW6 5UA
Battlestate Games Limited
Profit and Loss Account for the Year Ended 31 January 2026
|
Note |
2026 |
2025 |
|
|
Turnover |
|
|
|
|
Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Administrative expenses |
( |
( |
|
|
Operating (loss)/profit |
( |
|
|
|
Other interest receivable and similar income |
|
|
|
|
Interest payable and similar expenses |
|
( |
|
|
234,112 |
(43,303) |
||
|
Profit before tax |
|
|
|
|
Tax on profit |
( |
( |
|
|
Profit for the financial year |
|
|
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Battlestate Games Limited
Statement of Comprehensive Income for the Year Ended 31 January 2026
|
2026 |
2025 |
|
|
Profit for the year |
|
|
|
Total comprehensive income for the year |
|
|
Battlestate Games Limited
Balance Sheet as at 31 January 2026
|
Note |
2026 |
2025 |
|
|
Current assets |
|||
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
100 |
100 |
|
|
Retained earnings |
1,792,394 |
1,746,632 |
|
|
Shareholders' funds |
1,792,494 |
1,746,732 |
Approved and authorised by the
|
......................................... |
Battlestate Games Limited
Statement of Changes in Equity for the Year Ended 31 January 2026
|
Share capital |
Retained earnings |
Total |
|
|
At 1 February 2025 |
|
|
|
|
Profit for the year |
- |
|
|
|
At 31 January 2026 |
|
|
|
|
Share capital |
Retained earnings |
Total |
|
|
At 1 February 2024 |
|
|
|
|
Profit for the year |
- |
|
|
|
At 31 January 2025 |
100 |
1,746,632 |
1,746,732 |
Battlestate Games Limited
Statement of Cash Flows for the Year Ended 31 January 2026
|
Note |
2026 |
2025 |
|
|
Cash flows from operating activities |
|||
|
Profit for the year |
|
|
|
|
Adjustments to cash flows from non-cash items |
|||
|
Profit from disposals of investments |
- |
( |
|
|
Finance income |
( |
( |
|
|
Income tax expense |
|
|
|
|
|
|
||
|
Working capital adjustments |
|||
|
Decrease in trade debtors |
|
|
|
|
Decrease in trade creditors |
( |
( |
|
|
Net cash flow from operating activities |
( |
|
|
|
Cash flows from investing activities |
|||
|
Interest received |
|
|
|
|
Cash receipts from repayment of loans, classified as investing activities |
- |
|
|
|
Dividend income |
- |
|
|
|
Net cash flows from investing activities |
|
|
|
|
Net (decrease)/increase in cash and cash equivalents |
( |
|
|
|
Cash and cash equivalents at 1 February |
|
|
|
|
Cash and cash equivalents at 31 January |
1,195,203 |
2,321,216 |
|
Battlestate Games Limited
Notes to the Financial Statements for the Year Ended 31 January 2026
|
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
|
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Battlestate Games Limited
Notes to the Financial Statements for the Year Ended 31 January 2026
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Battlestate Games Limited
Notes to the Financial Statements for the Year Ended 31 January 2026
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
|
Interest payable and similar expenses |
|
2026 |
2025 |
|
|
Foreign exchange (losses)/gains |
( |
|
|
Staff costs |
The average number of persons employed by the company (including the director) during the year, analysed by category was as follows:
|
2026 |
2025 |
|
|
Administration and support |
|
|
|
|
|
|
Director's remuneration |
The director's remuneration for the year was as follows:
|
2026 |
2025 |
|
|
Remuneration |
|
|
|
Auditors' remuneration |
|
2026 |
2025 |
|
|
Audit of the financial statements |
|
|
|
Debtors |
Battlestate Games Limited
Notes to the Financial Statements for the Year Ended 31 January 2026
|
Current |
Note |
2026 |
2025 |
|
Trade debtors |
|
|
|
|
Other debtors |
|
|
|
|
Prepayments |
|
|
|
|
Accrued income |
|
- |
|
|
Deferred tax assets |
|
|
|
|
|
|
|
Creditors |
|
Note |
2026 |
2025 |
|
|
Due within one year |
|||
|
trade creditors |
|
|
|
|
Amounts due to related parties |
|
|
|
|
Social security and other taxes |
|
|
|
|
Accruals |
|
|
|
|
|
|
|
Share capital |
Allotted, called up and fully paid shares
|
2026 |
2025 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
100 |
|
100 |
Battlestate Games Limited
Notes to the Financial Statements for the Year Ended 31 January 2026
|
Related party transactions |
Amounts due to related parties:
Included within trade creditors are the following related party balances at year end:
Related persons being persons considered to have significant influence over the entity.
Dmitriy Loskutov is owed £3,022,442 (2025: £2,927,228) by the entity for the services rendererd.
Nikita Buianov is owed £2,438,036 (2025: £2,927,229) by the entity for the services rendered.
Included in other creditors is the amount of £10,109 (2025: £2,569) which is due to the director of the company.
Included in turnover is the amount of £8,911 (2025: £15,973) which was receivable from related parties of the company.
Included in direct costs is the amount of £58,048,694 (2025: £42,208,375) which was payable to related parties of the company.