Digital publisher StoryToys Ltd reveal losses of €924,000

Dublin-based digital publisher StoryToys Ltd, an award-winning developer of interactive books and games for children, made a loss of about €924,000 in the year to the end of June 2014, according to abridged accounts filed at the Companies Office.

Its loss widened on the year to the end of June 2013, when they totalled some €512,000. The company now has losses of almost €1.6 million in its profit and loss account as of June 2014.

The company, which counts an app based on Eric Carle's perennially popular children's title The Very Hungry Caterpillar among its titles, has net assets of €592,000, its accounts show.

“The directors acknowledge that the company continues to make losses, however the directors are confident that investment is available to the company and on this basis the directors are satisfied that the company can continue to trade on a going concern basis,” a note in the accounts stated.