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Unaudited Financial Statements for the Year Ended 31 March 2021 |
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GEOMETA STUDIO LIMITED |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2021 |
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for |
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GEOMETA STUDIO LIMITED |
GEOMETA STUDIO LIMITED (REGISTERED NUMBER: 08859119) |
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Contents of the Financial Statements |
FOR THE YEAR ENDED 31 MARCH 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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GEOMETA STUDIO LIMITED |
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Company Information |
FOR THE YEAR ENDED 31 MARCH 2021 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
5 Godalming Business Centre |
Woolsack Way |
Godalming |
Surrey |
GU7 1XW |
GEOMETA STUDIO LIMITED (REGISTERED NUMBER: 08859119) |
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Balance Sheet |
31 MARCH 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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GEOMETA STUDIO LIMITED (REGISTERED NUMBER: 08859119) |
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Notes to the Financial Statements |
FOR THE YEAR ENDED 31 MARCH 2021 |
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1. | STATUTORY INFORMATION |
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Geometa Studio Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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These financial statements are presented in Sterling (£). |
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Turnover |
The turnover shown in the profit and loss account represents amounts invoiced during the year for the publishing of computer games, exclusive of trade discounts. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Research and development |
Intangible assets represent development costs of video games under development. Costs are only capitalised when the following conditions are met: |
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- Completion of the game is technically feasible so that it will be available for use or sale |
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- The company intends to complete the game and use or sell it |
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- The company has the ability to use or sell the game and the game will generate probable future economic benefits (over and above cost) |
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- There are adequate technical, financial and other resources to complete the game and to use or sell the game, and |
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- The expenditure attributable to the game during its development can be measured reliably |
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Development costs no meeting the criteria for capitalisation are expensed as incurred. The cost of the asset compromises all directly attributable costs necessary to create, produce and prepare the game to be capable of operating in the manner intended by management. Directly attributable costs included employee costs incurred along with third party costs. Games are only amortised once they are released over their expected useful economic lives. |
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Careful judgement by the directors is applied when deciding whether the recognition requirements for development costs have been met. Judgements are based on the information available at each balance sheet date. In addition, all internal activities related to the research and development of new projects are continuously monitored by the directors. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
GEOMETA STUDIO LIMITED (REGISTERED NUMBER: 08859119) |
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Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 MARCH 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
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COST |
At 1 April 2020 |
and 31 March 2021 |
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AMORTISATION |
Charge for year |
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At 31 March 2021 |
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NET BOOK VALUE |
At 31 March 2021 |
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At 31 March 2020 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 April 2020 |
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Additions |
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At 31 March 2021 |
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DEPRECIATION |
At 1 April 2020 |
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Charge for year |
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At 31 March 2021 |
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NET BOOK VALUE |
At 31 March 2021 |
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At 31 March 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Amounts owed by participating interests | 538,552 | - |
Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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GEOMETA STUDIO LIMITED (REGISTERED NUMBER: 08859119) |
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Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 MARCH 2021 |
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8. | RELATED PARTY DISCLOSURES |
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During the year Geometa Studio Limited loaned Geometa Limited, the parent company, £538,552. As at the 31 March 2021 the amount owned to Geometa Studio Limited was £538,552. |