Playtonic Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09172538 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2020

for

Playtonic Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G I Price

C Sutherland

J C Restemeier

S L Gerges

A J Wilson

REGISTERED OFFICE:

6 Lichfield Street

Burton-on-Trent

Staffordshire

DE14 3RD

REGISTERED NUMBER:

09172538 (England and Wales)

ACCOUNTANTS:

Bourne & Co

Chartered Accountants

6 Lichfield Street

Burton-on-Trent

Staffordshire

DE14 3RD

FIXED ASSETS

Intangible assets

4

3,542,999

2,688,574

Tangible assets

5

8,006

8,987

Investments

6

1

1

3,551,006

2,697,562

CURRENT ASSETS

Debtors

7

87,405

518,495

Cash at bank and in hand

1,601,409

638,065

1,688,814

1,156,560

CREDITORS

Amounts falling due within one year

8

469,768

305,999

NET CURRENT ASSETS

1,219,046

850,561

TOTAL ASSETS LESS CURRENT LIABILITIES

4,770,052

3,548,123

CREDITORS

Amounts falling due after more than one year

9

(250,000

)

-

PROVISIONS FOR LIABILITIES

-

(1,708

)

NET ASSETS

4,520,052

3,546,415

CAPITAL AND RESERVES

Called up share capital

1,010

1,010

Capital contribution reserve

31,375

-

Retained earnings

4,487,667

3,545,405

SHAREHOLDERS' FUNDS

4,520,052

3,546,415

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2020 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2021 and were signed on its behalf by:

G I Price - Director

1.	STATUTORY INFORMATION

Playtonic Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The trading address is Bakewell House, Bretby Business Park, Burton-on-Trent, Staffordshire, DE15 OYZ.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Playtonic Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Royalties are recognised in the period in which they are earned as designated in the contract.

Intangible assets: trademarks

Trademarks have been capitalised at cost and amortised on a straight line basis over their useful economic life of ten years.

Intangible assets: development costs

Development costs have been capitalised at cost and amortised on a straight line basis over their useful economic life of two years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

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.

Video game tax credits

Video game tax credits have only been recognised where management believe that a tax credit will be recoverable based on their experience of obtaining the relevant gaming certificates and the success of similar historic claims.

Debtors and creditors

Short term debtors are measured at transaction price less any impairment. Any losses arising from impairment are recognised in profit or loss.

Short term creditors are measured at transaction price.

Share based payments

The Company has granted rights to its equity instruments to the Company employees. The share-based payment charge is recorded in the profit and loss account of the Company in respect of these arrangements. The credit is recorded in the Capital Contribution Reserve.

All goods and services received in exchange for the grant of any share-based payment are measured at their fair values using the Monte Carlo and Black Scholes models.

Where employees are rewarded using share-based payments, the fair value of the employees' services is determined indirectly by reference to the fair value of the equity instruments granted. This fair value is appraised at the grant date and excludes the impact of non-market vesting conditions (for example profitability and sales growth targets and performance conditions). The fair value of the options, appraised at the grant date, includes the impact of market based vesting conditions.

All share-based remuneration is ultimately recognised as an expense in staff costs with a corresponding credit to retained earnings. Where vesting periods or other vesting conditions apply, the expense is allocated over the vesting period, based on the best available estimate of the number of share options expected to vest. The expense or credit in the statement of profit or loss for a period represents the movement in cumulative expense recognised as at the beginning and end of that period.

Non-market vesting conditions are included in assumptions about the number of options that are expected to become exercisable. Estimates are subsequently revised if there is any indication that the number of share options expected to vest differs from previous estimates. Any adjustment to cumulative share-based compensation resulting from a revision is recognised in the current period. The number of vested options ultimately exercised by holders does not impact the expense recorded in any period.

Upon exercise of share options, the proceeds received, net of any directly attributable transaction costs are allocated to share capital up to the nominal (or par) value of the shares issued with any excess being recorded as share premium.

No expense is recognised for awards that do not ultimately vest because non-market performance and/or service conditions have not been met. Where awards include a market or non-vesting condition, the transactions are treated as vested irrespective of whether the market or non-vesting condition is satisfied, provided that all other performance and/or service conditions are satisfied.

No provision for National Insurance liabilities is provided for by the company on exercise of the share-based payments over time as the shares are not deemed to be readily convertible cash assets.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2019 - 29 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 November 2019

2,812,354

Additions

2,247,000

At 31 October 2020

5,059,354

AMORTISATION

At 1 November 2019

123,780

Charge for year

1,392,575

At 31 October 2020

1,516,355

NET BOOK VALUE

At 31 October 2020

3,542,999

At 31 October 2019

2,688,574

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2019

45,621

Additions

3,852

At 31 October 2020

49,473

DEPRECIATION

At 1 November 2019

36,634

Charge for year

4,833

At 31 October 2020

41,467

NET BOOK VALUE

At 31 October 2020

8,006

At 31 October 2019

8,987

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 November 2019

and 31 October 2020

1

NET BOOK VALUE

At 31 October 2020

1

At 31 October 2019

1

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.20

31.10.19

£

£

Trade debtors

68,433

469,421

Other debtors

18,972

49,074

87,405

518,495

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.20

31.10.19

£

£

Trade creditors

43,133

235,161

Taxation and social security

421,602

66,006

Other creditors

5,033

4,832

469,768

305,999

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.20

31.10.19

£

£

Bank loans

250,000

-

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.10.20

31.10.19

£

£

Within one year

53,845

52,531

Between one and five years

131,761

185,605

185,606

238,136