Prickle Bang Limited is a private company limited by shares incorporated in England and Wales. The registered office is 25-31 Parliament Street, 5th Floor, Liverpool, L8 5RN.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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 company after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
The average monthly number of persons (including directors) employed by the company during the year was:
Amounts owed to group undertakings are unsecured, interest free and are repayable on demand.
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
On 11 July 2023, Lucid Entertainment Group Limited, was acquired by L&G Oasis PTE Limited who are a fully owned subsidiary of Gold Coast Limited. The ultimate parent company is Tencent Holdings Limited and there is no ultimate controlling party.
There were no transactions during the year with related parties other than with group companies. The company is exempt from disclosing transactions with group companies that are wholly owned within the same group.
At 31 March 2023, the company is a wholly owned subsidiary of Lucid Entertainment Group Ltd which is also the ultimate parent company. The ultimate parent company, which prepares consolidated financial statements, is registered in England and Wales at 29-31 Parliament Street, Liverpool, England, L8 5RN.
The smallest and largest group into which the results of this entity are consolidated is that headed by Lucid Entertainment Group Ltd.
The ultimate controlling party is Mr P Wallace.
Note 5 contains details of post period end events concerning the parent company and ultimate controlling party at the date of account signing.