NDREAMS LIMITED

• ◆

  4 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

Saffery LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for a period of at least 12 months. Despite the entity operating at a loss and the challenges in the VR market, the Group have undergone restructuring to mitigate these challenges and have the ongoing financial support of the parent company, thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.”

Group structure

1. NDREAMS LIMITED · parent
   1. Near Light Limited 100% · UK · Development of video games
   2. Virtual Atlas Limited 100% · UK · Development of video games
   3. Virtual Chroma Limited 100% · UK · Development of video games
   4. Virtual Cyan Limited 100% · UK · Development of video games
   5. Virtual Eider Limited 100% · UK · Development of video games
   6. Virtual Green Limited 100% · UK · Development of video games
   7. Virtual Hades Limited 100% · UK · Development of video games
   8. Virtual Zeus Limited 100% · UK · Development of video games

Significant events

• “Work continued on Studio Elevation's 'Project Atlas', subsequently announced as the highly anticipated game 'Reach', which is tabled to launch in October 2025. The business also brought Near Light Studio's free-to-play 'Frenzies' game to the market, with an early access release in late 2024, and further features, gameplay and monetisation planned throughout 2025.”
• “The Group also secured further contracts to deliver content for both existing and new-to-market headset providers, explored opportunities within the newly announced Meta Horizon Worlds and also entered into a co-development arrangement known as 'Project Lone Star'.”
• “In November 2023, Aonic acquired the remaining stake in the Group, becoming its 100% parent entity.”
• “The Group entered a restructuring process in October 2024 and the business closed two of its studios - nDreams Farnborough and nDreams Orbital. Orbital's 'Project Zeus' was cancelled and its development value written off during the period. Sadly, a number of employees were made redundant, with the company scaling its workforce back by around 17%.”
• “This adjusted strategy led to the formation of a new studio - aptly named 'Compass', where smaller, rapid-iteration games that are well suited to emerging player demographics will be developed and brought to market. Compass began ideation and prototyping in late 2024 and already has some exciting own-IP games in the pipeline, including 'Wreckin' Raccoon, launching in September 2025.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

11

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

4

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.