YoYo Games Lose £73,000 in 2010
October 8, 2011
In the year to October 31st 2010 YoYo Games Ltd’s profit and loss account showed they made a £73,000 loss for the year.
The balance sheet value of YoYo Games however increased by £137,362 over the same period as more than £200,000 was raised by selling additional shares in the business.
The year to October 31st 2010 was prior to the release of GameMaker 8.1.
It’s allright, with the new strategy of “overcharge the shit out of everything”, aka, “OTSOOE” they will make nothing but profits this year. It’s a perfect plan.. except maybe that majority of their audience is a bunch of 12yr olds and those of us who CAN afford to pay are paying for better tools already. Other than that, a perfect plan.
Main reason for the delay is there’s no big reason to get them filed. There was a bit of confusion over R&D tax credits which meant we missed the deadline. We have a new system that should mean we get the 2011 accounts filed quite quickly.
Re “loss” we grew to about 8 people on no new revenues in the year to Nov 2010. We published our first game in October and didn’t see revenues till December. We’ve continued to invest and now there are 15 of us, but revenues have pretty much paid for all of this expansion.
I think the future looks great for YoYo especially with the release of GM:HTML5. Just the inclusion of the Twitter tag #html5 alone is reaching an enormous audience…it’s definitely becoming a hot topic. I’ve been using GM on/off for 10 years, but now that GM:HTML5 is out I’m gobbling every last byte on the web related to it
So they’re in the black, but only because people are investing? I guess they’re still experimenting which is expectable since there’s no one else in the world with the position of developing the most-used game development software.
Will things change now?:/
Why such a gap in between fiscal-year end and balance sheet approval by the Board? I’m not a corporate governance expert, but I do find the nearly year-long time difference between the two somewhat odd.
In the UK private companies have 9 months to submit their accounts from the end of the accounting period – that would be end of July 2011 in this instance. YYG submitted their accounts late, approved 19th September.