FuturLab is a remote-first game studio based in Brighton, with over 20 years of game development experience. The studio is well-known for its popular titles, including “PowerWash Simulator,” the “Velocity” series, and “Peaky Blinders: Mastermind.” As a recognised name in the gaming industry, FuturLab required a financial partner who could navigate the complexities of their operations and support their growth.
Challenges
Gaming companies inherently present unique challenges due to complexities around Video Games Tax Relief (VGTR) claims and intricate revenue recognition and deferred income processes associated with long development cycles. Understanding these complexities during our initial audit engagement in 2022 posed a particular challenge.
Our Approach
Our team worked closely with FuturLab’s finance function, this collaboration involved strong communication and regular touchpoints, including Teams calls and status catch-ups. By building a solid understanding of FuturLab’s operations and their unique financial requirements, we were able to ensure a smooth and effective audit process.
What Set Us Apart
Our competitive pricing, friendly yet professional service, and deep industry knowledge set us apart. We approached the audit as a true partnership, working efficiently with FuturLab’s team to meet all requirements and deliver on our commitments.
Client Collaboration
FuturLab was highly collaborative throughout the audit process, making themselves available for regular discussions and efficiently providing necessary information. This open, team-oriented approach contributed significantly to the audit’s success and solidified a strong working relationship.
Impact
While no material misstatements were identified, our audit highlighted areas for operational improvement. These included minor control and housekeeping issues, such as correcting billing addresses on expenditure invoices, better documentation of salary amendments, and accurate recording of fixed assets. We also emphasised the importance of maintaining board minutes and producing dividend vouchers. These recommendations aimed to enhance their internal control environment and streamline their processes.
Client Feedback and Relationship Building
Feedback from FuturLab was positive, with particular appreciation for our communication and collaboration during the audit. Our longstanding relationship, built through years of accounts work, contributed to their trust in our audit capabilities and strengthened our rapport further.
Looking Ahead
While our audit engagement with FuturLab has concluded following their acquisition by Miniclip, we take pride in the value and support we provided over the years. Our work with them exemplifies our commitment to fostering strong client relationships and delivering specialised, industry-specific financial services.
Client Quote
“The team at Plus Accounting has been a reliable partner over the years, providing excellent service with professionalism and a collaborative spirit. Their understanding of the complexities unique to the gaming industry made the audit process seamless and insightful.”
