Registration number:
Chongie Entertainment UK Limited
for the Period from 17 April 2023 to 31 December 2023
Chongie Entertainment UK Limited
Contents
Company Information |
|
Accountants' Report |
|
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Chongie Entertainment UK Limited
Company Information
Director |
Mr D Baltadzhiev |
Registered office |
|
Accountants |
|
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Chongie Entertainment UK Limited
for the Period Ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Chongie Entertainment UK Limited for the period ended 31 December 2023 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Chongie Entertainment UK Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Chongie Entertainment UK Limited and state those matters that we have agreed to state to the Board of Directors of Chongie Entertainment UK Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Chongie Entertainment UK Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Chongie Entertainment UK Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Chongie Entertainment UK Limited. You consider that Chongie Entertainment UK Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Chongie Entertainment UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Links Point
Amy Johnson Way
Blackpool
FY4 2FF
Chongie Entertainment UK Limited
(Registration number: 14806879)
Balance Sheet as at 31 December 2023
Note |
2023 |
|
Fixed assets |
||
Intangible assets |
|
|
Tangible assets |
|
|
Investments |
|
|
|
||
Current assets |
||
Debtors |
|
|
Cash at bank and in hand |
|
|
|
||
Creditors: Amounts falling due within one year |
( |
|
Net current liabilities |
( |
|
Net liabilities |
( |
|
Capital and reserves |
||
Called up share capital |
|
|
Retained earnings |
( |
|
Shareholders' deficit |
( |
For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
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.
Chongie Entertainment UK Limited
(Registration number: 14806879)
Balance Sheet as at 31 December 2023
Approved and authorised by the
......................................... |
Chongie Entertainment UK Limited
Notes to the Unaudited Financial Statements for the Period from 17 April 2023 to 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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.
Disclosure of long or short period
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.
Revenue recognition
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 each of the activities. Turnover is recognised at the fair value of income receivable.
Tax
The tax expense for the period comprises 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.
Chongie Entertainment UK Limited
Notes to the Unaudited Financial Statements for the Period from 17 April 2023 to 31 December 2023
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 |
Leasehold improvements |
5 year straight line |
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
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:
Asset class |
Amortisation method and rate |
Lease premiums |
20% reducing balance |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Chongie Entertainment UK Limited
Notes to the Unaudited Financial Statements for the Period from 17 April 2023 to 31 December 2023
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.
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.
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.
Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
Chongie Entertainment UK Limited
Notes to the Unaudited Financial Statements for the Period from 17 April 2023 to 31 December 2023
Intangible assets |
Other intangible assets |
Total |
|
Cost or valuation |
||
Additions acquired separately |
|
|
At 31 December 2023 |
|
|
Amortisation |
||
Amortisation charge |
|
|
At 31 December 2023 |
|
|
Carrying amount |
||
At 31 December 2023 |
|
|
Chongie Entertainment UK Limited
Notes to the Unaudited Financial Statements for the Period from 17 April 2023 to 31 December 2023
Tangible assets |
Land and buildings |
Total |
|
Cost or valuation |
||
Additions |
|
|
At 31 December 2023 |
|
|
Depreciation |
||
Carrying amount |
||
At 31 December 2023 |
|
|
Included within the net book value of land and buildings above is £11,352 in respect of short leasehold land and buildings.
Investments |
2023 |
|
Investments in subsidiaries |
|
Subsidiaries |
£ |
Cost or valuation |
|
Additions |
|
At 31 December 2023 |
|
Provision |
|
At 31 December 2023 |
- |
Carrying amount |
|
At 31 December 2023 |
|
Chongie Entertainment UK Limited
Notes to the Unaudited Financial Statements for the Period from 17 April 2023 to 31 December 2023
Debtors |
Current |
2023 |
Prepayments |
|
Other debtors |
|
|
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
|
Due within one year |
||
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
|
Accruals and deferred income |
|
|
|
Share capital |
Allotted, called up and fully paid shares
2023 |
||
No. |
£ |
|
|
|
1 |
Non adjusting events after the financial period |
|