Control Studios Limited - Accounts to registrar - small 16.1.1

REGISTERED NUMBER: 09971201 (England and Wales)

Unaudited Financial Statements

FOR THE PERIOD

1 April 2017 to 31 December 2017

for

CONTROL STUDIOS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G J Harrison

C Harrison

REGISTERED OFFICE:

59-60 Grosvenor Street

London

W1K 3HZ

REGISTERED NUMBER:

09971201 (England and Wales)

ACCOUNTANTS:

Shipleys LLP

Chartered Accountants

5 Godalming Business Centre

Woolsack Way

Godalming

Surrey

GU7 1XW

FIXED ASSETS

Intangible assets

4

99,186

4,000

CURRENT ASSETS

Debtors

5

16,188

510

Cash at bank

5,469

130,032

21,657

130,542

CREDITORS

Amounts falling due within one year

6

675

-

NET CURRENT ASSETS

20,982

130,542

TOTAL ASSETS LESS CURRENT LIABILITIES

120,168

134,542

CAPITAL AND RESERVES

Called up share capital

150,038

150,038

Retained earnings

(29,870

)

(15,496

)

120,168

134,542

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 13 February 2018 and were signed on its behalf by:

G J Harrison - Director

1.	STATUTORY INFORMATION

Control Studios 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The reporting period has been shortened to 31 December 2017 as this period was deemed most appropriate. The

comparative figures are for a 12 month period.

These financial statements are presented in Sterling (£).

Intangible assets

Intangible assets represent development costs of video games under development including licence fees. Costs

are only capitalised when the following conditions are met:

- Completion of the game is technically feasible so that it will be available for use or sale

- The company intends to complete the game and use or sell it

- The company has the ability to use or sell the game and the game will generate probable future economic

benefits (over and above cost)

- There are adequate technical, financial and other resources to complete the game and to use or sell the game,

and

- The expenditure attributable to the game during its development can be measured reliably.

Development costs not meeting the criteria for capitalisation are expensed as incurred. The cost of the asset

comprises 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 include employee costs incurred

along with third party costs. Games are only amortised once they are released over their expected useful

economic lives.

Deferred tax

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

sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2017

4,000

Additions

95,186

At 31 December 2017

99,186

NET BOOK VALUE

At 31 December 2017

99,186

At 31 March 2017

4,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2017

£

£

Trade debtors

16,150

472

Other debtors

38

38

16,188

510

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2017

£

£

Trade creditors

675

-