Registration number: 14869335

Chongie Finance UK Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 8

Chongie Finance UK Ltd

Company Information

Director

Mr G Hamilton

Registered office

71-75 Shelton Street Covent Garden London WC2H 9JQ

Auditors

Crossley & Davis Chartered Accountants Ground Floor Seneca House Links Point Amy Johnson Way Blackpool FY4 2FF

Chongie Finance UK Ltd

(Registration number: 14869335)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	10,019	11,153
Tangible assets	5	1,601,852	-
		1,611,871	11,153
Current assets
Debtors	6	163,526	2,889
Cash at bank and in hand		107,916	-
		271,442	2,889
Creditors: Amounts falling due within one year	7	(1,552,652)	(25,084)
Net current liabilities		(1,281,210)	(22,195)
Total assets less current liabilities		330,661	(11,042)
Creditors: Amounts falling due after more than one year	7	(417,432)	-
Net liabilities		(86,771)	(11,042)
Capital and reserves
Called up share capital	8	1	1
Retained earnings		(86,772)	(11,043)
Shareholders' deficit		(86,771)	(11,042)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 September 2025
 

......................................... Mr G Hamilton Director

Chongie Finance UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
71-75 Shelton Street
Covent Garden
London
WC2H 9JQ
England

These financial statements were authorised for issue by the director on 29 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Going concern

The financial statements have been prepared on a going concern basis. The entity is backed by its ultimate controlling owner who is committed to supporting the ongoing operations of the company for the foreseeable future.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 29 September 2025 was Mr P Swarbrick, who signed for and on behalf of Crossley & Davis Chartered Accountants.

.........................................

Revenue recognition

Turnover represents income from the rental of gaming machines under operating lease agreements. Revenue is recognised on a straight-line basis over the lease term. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the company and specific criteria have been met for its activity.

Chongie Finance UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

Tax

The tax credit for the period arises entirely from deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Gaming machines	20% straight line
Other plant and machinery	33% straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows. Where the useful life of a licence cannot be reliably measured, it is amortised on a straight line basis over a period that does not exceed 10 years.

Asset class	Amortisation method and rate
Licences	10 year straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Chongie Finance UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

Chongie Finance UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

4	Intangible assets

	Other intangible assets  £	Total £
Cost or valuation
At 1 January 2024	11,342	11,342
At 31 December 2024	11,342	11,342
Amortisation
At 1 January 2024	189	189
Amortisation charge	1,134	1,134
At 31 December 2024	1,323	1,323
Carrying amount
At 31 December 2024	10,019	10,019
At 31 December 2023	11,153	11,153

5	Tangible assets

	Plant and machinery £	Total £
Cost or valuation
Additions	1,729,774	1,729,774
At 31 December 2024	1,729,774	1,729,774
Depreciation
Charge for the year	127,922	127,922
At 31 December 2024	127,922	127,922
Carrying amount
At 31 December 2024	1,601,852	1,601,852

Chongie Finance UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

6

Debtors

Current	Note	2024 £	2023 £
Trade debtors		18,755	-
Amounts owed by related parties		-	1
Prepayments		2,907	2,251
Other debtors		141,864	637
		163,526	2,889

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	9	121,961	-
Trade creditors		136,967	-
Amounts owed to group undertakings and undertakings in which the company has a participating interest		1,278,724	-
Accruals and deferred income		15,000	1,800
Other creditors		-	23,284
		1,552,652	25,084

Creditors include net obligations under hire purchase contracts which are secured of £121,961 (2023 - £nil). The amount is secured over the assets concerned.

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	9	294,418	-
Other non-current financial liabilities		123,014	-
		417,432	-

Creditors include net obligations under hire purchase contracts which are secured of £294,418 (2023 - £nil). The amount is secured over the assets concerned.

Chongie Finance UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	1	1	1	1

9	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Hire purchase contracts	294,418	-

Current loans and borrowings

	2024 £	2023 £
Hire purchase contracts	121,961	-

10	Relationship between entity and parents

The parent of the smallest group in which these financial statements are consolidated is Chongie Entertainment UK Ltd, incorporated in England and Wales.

The address of Chongie Entertainment UK Ltd is:
3-5 Wardour Street, London, England, W1D 6PB