REGISTERED NUMBER: 11622562 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

Rednines Gaming Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S Mishchenko

V Teodoru

E Teodoru

REGISTERED OFFICE:

Office 9.17, 21B, Capital Tower 91

Waterloo Road

London

SE1 8RT

REGISTERED NUMBER:

11622562 (England and Wales)

ACCOUNTANTS:

Hawksford UK Services Limited

123 Pall Mall

St. James's

London

SW1Y 5EA

CURRENT ASSETS

Debtors

4

386,974

268,290

Cash at bank

53,238

82,541

440,212

350,831

CREDITORS

Amounts falling due within one year

5

(320,644

)

(676,471

)

NET CURRENT ASSETS/(LIABILITIES)

119,568

(325,640

)

TOTAL ASSETS LESS CURRENT LIABILITIES

119,568

(325,640

)

CREDITORS

Amounts falling due after more than one year

6

(18,521,062

)

(15,144,096

)

NET LIABILITIES

(18,401,494

)

(15,469,736

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(18,401,495

)

(15,469,737

)

(18,401,494

)

(15,469,736

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 May 2026 and were signed on its behalf by:

S Mishchenko - Director

1.	STATUTORY INFORMATION

Rednines Gaming Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared in Pounds Sterling and this is also considered by the directors to be the company's functional currency.

Going concern

The financial statements have been prepared on a going concern basis even though at the balance sheet date the company had net liabilities amounting to £18,401,494 (2024: £15,469,736). The company had a net loss of £2,931,758 (2024: £1,121,717)) for the year. The company's ability to continue as a going concern is contingent on the willingness of the controlling parties to provide financing to the company. The controlling parties have expressed their willingness to provide financial support for the next 12 months as from the date of approval of the financial statements in order for the company to meet its current liabilities. The director therefore continues to adopt the going concern basis of accounting.

Revenue recognition

Revenue represents gains and losses from betting activity in the period. Open positions are carried at fair value and gains and losses arising on this valuation are recognised in revenue, as well as gains and losses realised on positions that have closed

Foreign currencies

Monetary assets and liabilities in foreign currencies are translated into Pounds Sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into Pounds Sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

306,858

118,662

Other debtors

80,116

149,628

386,974

268,290

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade creditors

77,108

330,460

Other creditors

243,536

346,011

320,644

676,471

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

31.12.24

£

£

Other creditors

18,521,062

15,144,096

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As part of professional fees included in administrative costs, during the year E Teodoru received £58,992, V Teodoru received £23,028, and S Mishchenko received £26,367 as remuneration in respect to their services as directors of the Company.

8.	RELATED PARTY DISCLOSURES

Included in creditors due more than one year are the following loans:

31.12.2025

31.12.2024

£

£

Director's loan

226,105

206,770

During the year, Rednines Gaming Ltd incurred interest of £8,443 (2024: £8,408) in respect of the above loan.

31.12.2025

31.12.2024

£

£

Faro Entertainment N.V.

282,542

258,235

During the year, Rednines Gaming Ltd incurred interest of £10,715 (2024: £10,669) in respect of the above loan.

31.12.2025

31.12.2024

£

£

Faro Entertainment Europe Ltd

18,012,415

14,679,091

During the year, Rednines Gaming Ltd incurred interest of £768,328 (2024: £698,298) in respect of the above loan.

Included in creditors at the balance sheet date, is an amount of £31,143 (2024: £31,143 ) owed to the director, S Mishchenko, amount of £31,143 remained outstanding at the year end.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S Mishchenko.