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REGISTERED NUMBER:
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Marmalade Technologies Ltd |
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Financial Statements For The Year Ended 31 December 2018 |
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REGISTERED NUMBER:
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Marmalade Technologies Ltd |
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Financial Statements For The Year Ended 31 December 2018 |
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Marmalade Technologies Ltd (Registered number: 03677408)
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Contents of the Financial Statements
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For The Year Ended 31 December 2018
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Page
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Company Information
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1
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Statement of Financial Position
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2
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Notes to the Financial Statements
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4
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Marmalade Technologies Ltd
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Company Information
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For The Year Ended 31 December 2018
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DIRECTORS:
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REGISTERED OFFICE:
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REGISTERED NUMBER:
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ACCOUNTANTS:
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Building 15
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Gateway 1000
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Arlington Business Park
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Stevenage
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Hertfordshire
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SG1 2FP
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Marmalade Technologies Ltd (Registered number: 03677408)
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Statement of Financial Position
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31 December 2018
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2018
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2017
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Notes
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£
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£
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FIXED ASSETS
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Intangible assets
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4
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Tangible assets
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5
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Investments
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6
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CURRENT ASSETS
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Debtors
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7
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Cash at bank
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CREDITORS
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Amounts falling due within one year
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8
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(
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(
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NET CURRENT LIABILITIES
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(
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(
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TOTAL ASSETS LESS CURRENT
LIABILITIES
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(
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CREDITORS
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Amounts falling due after more than one
year
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9
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(
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(
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NET LIABILITIES
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(
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(
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CAPITAL AND RESERVES
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Called up share capital
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Share premium
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Other reserves
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Retained earnings
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(
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(
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(
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(
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The directors acknowledge their 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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Marmalade Technologies Ltd (Registered number: 03677408)
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Statement of Financial Position - continued
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31 December 2018
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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 Board of Directors on
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Marmalade Technologies Ltd (Registered number: 03677408)
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Notes to the Financial Statements
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For The Year Ended 31 December 2018
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1.
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STATUTORY INFORMATION
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Marmalade Technologies Ltd is a
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company's registered number and registered office address can be found on the Company Information page.
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2.
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ACCOUNTING POLICIES
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Basis of preparing the financial statements
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The directors have prepared projected cash flow information for the period ending 12 months from the date of
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their approval of these financial statements and will continue to seek to raise further equity and loan funding, as
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required, sufficient to meet the company's requirements and the directors are satisfied that adequate cash and
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working capital resources will continue to be maintained and that it is appropriate to prepare the financial
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statements on a going concern basis.
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Judgements and key sources of estimation uncertainty
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The preparation of the financial statements requires management to make judgements, estimates and assumptions
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that affect the amounts reported. These estimates and judgements are continually reviewed and are based on
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experience and other factors, including expectations of future events that are believed to be reasonable under the
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circumstances.
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The judgements (apart from those involving estimations) that management has made in the process of applying
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the entity's accounting policies and that have the most significant effect on the amounts recognised in the
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financial statements are detailed in revenue recognition policy note.
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Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the
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related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant
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risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial
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year are as follows:
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1) Depreciation and amortisation charges
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The annual depreciation and amortisation charge for each class of tangible and intangible asset is based on an
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estimate of the useful economic life of the respective assets. This is reviewed periodically by the directors to
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ensure threat they reflect both the external and internal factors.
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Preparation of consolidated financial statements
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The Company, and the Group headed by it, qualify as small as set out in section 383 of the companies Act 2006 |
and the parent and Group are considered eligible for the exemption to prepare consolidated accounts. |
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Marmalade Technologies Ltd (Registered number: 03677408)
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Notes to the Financial Statements - continued
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For The Year Ended 31 December 2018
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2.
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ACCOUNTING POLICIES - continued
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Turnover
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Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and
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the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or
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receivable, excluding Value Added Tax.
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Royalties are accounted for in the period in which they are earned.
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Product development income is recognised as contract activity progresses to reflect milestones achieved during
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the year. Amounts received in advance are carried forward until recognised as turnover.
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License sales are recognised over the course of the licensing agreement.
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Intangible assets
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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. |
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Amortisation is provided at rates calculated to write off the cost in equal instalments over its estimated useful life |
of 3 years. |
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Tangible fixed assets
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Short leasehold
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Plant and machinery
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Investments in subsidiaries
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Investments in subsidiaries are measured at transaction price, less any impairment.
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Taxation
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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 statement of financial position date. |
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Foreign currencies
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Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of |
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the |
operating result. |
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The company's functional and presentational currency is £ sterling. |
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Pension costs
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The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension |
plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been |
paid the Company has no further payment obligations. |
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The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. |
Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the |
plan are held separately from the Company in Independently administered funds. |
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Management recharges
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Management recharges represent the proportion of expenses recharged at cost to its subsidiary company
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Marmalade Game Studios Limited in connection with that company's activities.
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Marmalade Technologies Ltd (Registered number: 03677408)
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Notes to the Financial Statements - continued
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For The Year Ended 31 December 2018
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2.
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ACCOUNTING POLICIES - continued
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Financial instruments
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Financial instruments are classified and accounted for, according to the substance of the contractual arrangement,
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as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that
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evidences a residual interest in the assets of the company after deducting all of its liabilities.
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Provisions
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Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is
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probable that the entity will be required to transfer economic benefits in settlement and the amount of the
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obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position
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and the amount of the provision as an expense.
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3.
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EMPLOYEES AND DIRECTORS
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The average number of employees during the year was NIL (2017 -
3
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4.
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INTANGIBLE FIXED ASSETS
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Development
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costs
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£
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COST
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At 1 January 2018
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Additions
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Disposals
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At 31 December 2018
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AMORTISATION
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At 1 January 2018
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Amortisation for year
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Eliminated on disposal
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(
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At 31 December 2018
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NET BOOK VALUE
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At 31 December 2018
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At 31 December 2017
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Marmalade Technologies Ltd (Registered number: 03677408)
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Notes to the Financial Statements - continued
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For The Year Ended 31 December 2018
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5.
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TANGIBLE FIXED ASSETS
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Fixtures
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Short
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Plant and
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and
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leasehold
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machinery
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fittings
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Totals
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£
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£
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£
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£
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COST
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At 1 January 2018
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Additions
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Disposals
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(
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(
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(
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At 31 December 2018
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DEPRECIATION
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At 1 January 2018
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Charge for year
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Eliminated on disposal
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(
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(
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(
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At 31 December 2018
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NET BOOK VALUE
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At 31 December 2018
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At 31 December 2017
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6.
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FIXED ASSET INVESTMENTS
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Shares in
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group
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undertakings
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£
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COST
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At 1 January 2018
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and 31 December 2018
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NET BOOK VALUE
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At 31 December 2018
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At 31 December 2017
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The company's investments at the Statement of Financial Position date in the share capital of companies include
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the following:
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Registered office:
The registered office address of Marmalade Game Studio Limited is 2-7 Clerkenwell Green, London, EC1R 0DE
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Nature of business:
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%
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Class of shares:
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holding
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