Mobile Gaming Studios Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08324771 (England and Wales)

MOBILE GAMING STUDIOS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

Mr C S Dixon

Mr J Post

REGISTERED OFFICE:

Legal Department

Holborn Gate

326-330 High Holburn

LONDON

WC1V 7PP

BUSINESS ADDRESS:

Derby West Business Centre

Ashbourne Road

Mackworth

DERBY

DE22 4NB

REGISTERED NUMBER:

08324771 (England and Wales)

ACCOUNTANTS:

Johnson Tidsall Limited

Chartered Accountants

81 Burton Road

Derby

Derbyshire

DE1 1TJ

FIXED ASSETS

Tangible assets

4

17,707

13,636

Investments

5

100

-

17,807

13,636

CURRENT ASSETS

Debtors

6

938,079

870,829

Cash at bank and in hand

379,982

151,862

1,318,061

1,022,691

CREDITORS

Amounts falling due within one year

7

3,351,594

3,885,444

NET CURRENT LIABILITIES

(2,033,533

)

(2,862,753

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,015,726

)

(2,849,117

)

CAPITAL AND RESERVES

Called up share capital

8

3,443

3,443

Share premium

1,645,977

1,645,977

Retained earnings

(3,665,146

)

(4,498,537

)

SHAREHOLDERS' FUNDS

(2,015,726

)

(2,849,117

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 June 2020 and were signed on its behalf by:

Mr C S Dixon - Director

1.	STATUTORY INFORMATION

Mobile Gaming 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 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.

The director considers it appropriate to prepare the financial statements on a going concern basis as

a result of the continued financial support of the holding company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

Computer equipment

-

20% on cost

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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.

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument

is any contract that evidences a residual interest in the assets of the company after deducting all of

its liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 47 (2018 - 44 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2019

2,700

138,149

140,849

Additions

-

10,810

10,810

At 31 December 2019

2,700

148,959

151,659

DEPRECIATION

At 1 January 2019

2,700

124,513

127,213

Charge for year

-

6,739

6,739

At 31 December 2019

2,700

131,252

133,952

NET BOOK VALUE

At 31 December 2019

-

17,707

17,707

At 31 December 2018

-

13,636

13,636

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

100

At 31 December 2019

100

NET BOOK VALUE

At 31 December 2019

100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

9,333

7,652

Other debtors

736

793

Corporation tax

262,137

379,613

VAT

5,028

35,321

Prepayments and accrued income

660,845

447,450

938,079

870,829

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

427,041

265,282

Amounts owed to group undertakings

2,504,193

3,391,677

Social security and other taxes

49,028

44,140

Accruals and deferred income

371,332

184,345

3,351,594

3,885,444

8.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2019

2018

value:

£

£

339,185

Ordinary Shares

1p

3,443

3,443

9.	RELATED PARTY DISCLOSURES

Mobile Gaming Studios Limited had an amount due to a group undertaking of £2,504,093 (2018:

£3,391,677) at the balance sheet date.