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"2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_NegatedLabel_00174": { "value": "-165785.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CashRepaymentsOfAdvancesAndLoansFromRelatedParties", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_Label_00178": { "value": "3306572.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ProceedsFromIssuingShares", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_Label_00177": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ProceedsFromIssuingShares", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_Label_00179": { "value": "200000.0", "decimals": 0, "dimensions": { "concept": "chss:ReceivedInAdvanceOfShareIssuanceClassifiedAsFinancingActivities", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_Label_00180": { "value": "2016702.0", "decimals": 0, "dimensions": { "concept": "chss:ReceivedInAdvanceOfShareIssuanceClassifiedAsFinancingActivities", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_TotalLabel_00280": { "value": "2454118.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_TotalLabel_00279": { "value": "3433366.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_TotalLabel_00183": { "value": "-200901.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_TotalLabel_00182": { "value": "67762.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_PeriodStartLabel_00185": { "value": "267396.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_PeriodStartLabel_00184": { "value": "186881.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2024-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_Label_00187": { "value": "-25763.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_Label_00186": { "value": "12753.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_PeriodEndLabel_00189": { "value": "40732.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2026-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ConsolidatedStatementOfCashFlows_PeriodEndLabel_00188": { "value": "267396.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00137": { "value": "NOTES TO THE STATEMENTS OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025
1
RECONCILIATION OF LOSS FOR THE YEAR TO CASH ABSORBED FROM OPERATIONS
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Group
2025
2024
\u00a0
\u20ac
\u20ac
Loss for the year
(3,659,941)
(3,795,146)
Income tax
111,566
(47,885)
Depreciation and amortisation
839,423
864,330
Reversal of provision
(155,887)
-
Impairment of non-current assets (note 8)
1,754,520
-
Gain on derecognition of lease liability (note 8)
(1,263,126)
-
Finance costs
71,184
187,325
Finance income
(1,212)
(139)
\u00a0
(2,303,473)
(2,791,515)
Decrease in inventories
18,037
39,469
Decrease/(increase) in trade and other receivables
271,909
(184,553)
(Decrease)/increase in trade and other payables
(462,054)
787,222
Cash absorbed from operations
(2,475,581)
(2,149,377)
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Company
2025
2024
\u00a0
\u20ac
\u20ac
Loss for the year
(1,542,698)
(3,550,193)
Impairment of intercompany loan
566,347
2,631,441
Impairment of investments in group undertakings
300,000
-
Finance costs
1,367
6,241
Finance income
(119,113)
(112,675)
\u00a0
(794,097)
(1,025,186)
Decrease in trade and other receivables
12,298
887
(Decrease)/increase in trade and other payables
(12,996)
142,362
Cash absorbed by operations
(794,795)
(881,937)
\n
The reconciliation above includes a number of non-cash adjustments relating to discontinued operations,
including impairment of non-current assets of \u20ac1,764,060 and a gain on derecognition of the related lease
liability of \u20ac1,263,126 as detailed in note 8.
At Company level, the reconciliation also includes an impairment of an intercompany loan of \u20ac566,347
and an impairment of the investment in World Chess Europe GmbH of \u20ac300,000.
These items do not give rise to cash movements and have therefore been adjusted in reconciling loss
before income tax to net cash outflow from operating activities.3
RECONCILIATION OF NET DEBT
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Group
2025
2024
\u00a0
\u20ac
\u20ac
At 31 December
\u00a0 \u00a0
Other loans
-
(1,401,543)
Amounts owed to Directors
(49,947)
(300,865)
Lease liabilities
-
(1,304,274)
Total Borrowings
(49,947)
(3,006,682)
Cash and cash equivalents
40,732
267,396
Net debt
(9,215)
(2,739,286)
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Company
2025
2024
\u00a0
\u20ac
\u20ac
At 31 December
\u00a0 \u00a0
Amounts owed to Directors
(144,691)
(194,322)
Cash and cash equivalents
5,524
6,551
Net debt
(139,167)
(187,771)
\n
Amounts owed to Directors includes balances due to Directors disclosed in note 27 to the financial
statements. Although classified under \u2018trade and other payables\u2019 in the Statement of Financial Position,
these amounts represent short-term financing from Directors and are included in net debt.", "dimensions": { "concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00138": { "value": "2
CASH AND CASH EQUIVALENTS
The amounts disclosed on the Statements of Cash Flows in respect of cash and cash equivalents are
in respect of these Statement of Financial Position amounts:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Group
2025
2024
\u00a0
\u20ac
\u20ac
Year ended 31 December 2025
\u00a0 \u00a0
Cash and cash equivalents
40,732
267,396
Year ended 31 December 2024
\u00a0 \u00a0
Cash and cash equivalents
267,396
186,881
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Company
2025
2024
\u00a0
\u20ac
\u20ac
Year ended 31 December 2025
\u00a0 \u00a0
Cash and cash equivalents
5,524
6,551
Year ended 31 December 2024
\u00a0 \u00a0
Cash and cash equivalents
6,551
21,366
\n15
CASH AND CASH EQUIVALENTS
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Group
Company
\u00a0
2025
2024
2025
2024
\u00a0
\u20ac
\u20ac
\u20ac
\u20ac
Bank accounts
40,732
267,396
5,524
6,551
\u00a0
40,732
267,396
5,524
6,551
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00140": { "value": "1
STATUTORY INFORMATION
World Chess PLC is a public 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.", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_0094": { "value": "public company, limited by shares", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_0086": { "value": "England and Wales", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_0093": { "value": "England and Wales", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00145": { "value": "2
ACCOUNTING POLICIES
Basis of preparation
These financial statements have been prepared in accordance with UK \u2013 adopted International
Accounting Standards and IFRIC interpretations and with those parts of the Companies Act 2006
applicable to companies reporting under IFRS. The financial statements have been prepared under the
historical cost convention, except for certain financial assets and liabilities, including crypto assets which
are measured at fair value.
The Group had discontinued operations during the year relating to the Berlin club (see note 8).
The financial statements are presented in Euro which is the functional currency of the Group and
rounded to the nearest \u20ac.
Going concern
The Group incurred a loss for the year of \u20ac3,685,704 (2024: \u20ac3,782,393) and, as at 31 December 2025, had
net current liabilities of \u20ac1,578,364 (2024: \u20ac3,459,639). These conditions indicate that the Group remains
dependent on the successful execution of its strategy and the availability of funding to meet its
obligations as they fall due.
The Directors have assessed the Group\u2019s ability to continue as a going concern for a period of at least
twelve months from the date of approval of these financial statements. This assessment has been based
on the Group\u2019s current financial position together with a review of forecast operating budgets and cash
flow projections.
The forecasts reflect the Group\u2019s strategic focus on the continued development of the World Chess Online
Arena together with ongoing cost management, including the Group\u2019s agreement with FIDE in respect of
the platform, which is due to expire in August 2026 but provides for automatic renewal in accordance
with its terms.
The forecasts assume no additional external funding beyond the post-year-end investment of
approximately \u20ac1,359,000, as described in note 30 \u2013 subsequent events, and reflect expected growth in
revenues from the Online Arena. However, the timing and extent of revenue growth remain subject to
execution risk.
While the Directors continue to seek additional investment to support further development of the
platform and provide additional headroom should revenue growth be slower than forecast, there can be
no certainty that such funding will be secured.
These conditions indicate the existence of a material uncertainty which may cast significant doubt on the
Group\u2019s ability to continue as a going concern.
Notwithstanding the above, the financial statements have been prepared on a going concern basis as the
Directors have a reasonable expectation that the Group will be able to realise its assets and discharge its
liabilities in the normal course of business.
Basis of consolidation
The consolidated financial statements incorporate the financial statements of the Company and entities
controlled by the Company (its subsidiaries) made up to 31 December each year. Control is achieved
where the Company has the power to govern the financial and operating policies of an investee entity so
as to obtain benefits from its activities.
Intra-group balances and transactions are eliminated on consolidation.
Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements in conformity with UK \u2013 adopted International Accounting
Standards requires the use of estimates and assumptions that affect the reported amounts of assets and
liabilities at the date of the financial statements and the reported amounts of revenue and expenses
during the reporting period. Although these estimates are based on management's best knowledge of the
amounts, events or actions, actual results ultimately may differ from these estimates. The estimates and
underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estimate is revised. The material areas in which estimates and
judgements are applied as follows:
Impairment of other intangible assets
The Group is required to test, on an annual basis, whether other intangible assets have suffered any
impairment. Determining whether there has been any impairment requires an estimation of the fair value
in use of the cash-generating units. The value in use calculation requires the Directors to estimate the
future cash flows expected to arise from the cash-generating unit and a suitable discount rate to calculate
the present value, the discount rate applied is 13.29% (2024: 12.81%). The carrying value of intangible
assets (excluding crypto assets) is set out in the table below (see also note 10):
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Group
\u00a0
2024
2024
\u00a0
\u20ac
\u20ac
Exclusive FIDE rights
110,530
221,059
Software Licences
13,000
36,000
Online Arena
2,906,076
2,942,925
\n
Sensitivity Analysis
The impairment review is sensitive to changes in key assumptions, particularly the discount rate and the
forecast revenues and costs The Directors have considered the extent to which these assumptions would
need to change for the recoverable amount to equal the carrying value of the cash-generating unit.
\u2022
The discount rate would need to increase from 13.29% to approximately 55.37% before the value in
use equals the carrying value.
\u2022
Forecast revenues would need to decrease by approximately 55% before the value in use equals the
carrying value.
\u2022
Forecast costs would need to increase by approximately 135% before the value in use equals the
carrying value.
The Directors consider these sensitivities to represent severe downside scenarios and, accordingly,
conclude that there is significant headroom and no impairment is required.
Investments and amounts owed by group undertakings for impairment (Company Only)
At each reporting date, the Company assesses whether amounts owed by group undertakings and
investments in subsidiaries have suffered any impairment. Determining whether there has been any
impairment requires an estimation of the recoverable amount of these balances, based on the financial
position and expected future cash flows of the relevant group undertakings.
This assessment involves estimating future cash flows expected to arise from the group undertakings and
applying a suitable discount rate to calculate the present value. The discount rate applied is 13.29% (2024:
12.81%).
The carrying value of amounts owed by group undertakings is as follows:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Company
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
World Chess Events Ltd
6,962,574
4,713,473
World Chess USA inc.
462,495
-
\n
The balance due from World Chess USA inc. is supported by its intercompany receivable from World
Chess Events Ltd of \u20ac581,467 and reflects the role of the entity within the Group\u2019s operating and funding
structure rather than its standalone revenue generation. Amounts due to the parent company are
classified as non-current as they are not expected to be settled within 12 months of the reporting date.
The prior year comparative has not been restated as the classification reflects conditions and expectations
at the respective reporting dates.
As at the reporting date, an impairment charge of \u20ac566,347 (2024: \u20ac2,631,441) has been recognised in the
Company\u2019s income statement in respect of amounts owed by World Chess Europe GmbH, reflecting a
reassessment of their recoverability..
In addition, during the year the Company recognised an impairment of \u20ac300,000 in respect of its
investment in World Chess Europe GmbH, reducing the carrying value of the investment to \u20acnil. This
impairment reflects the closure of the Berlin club venue during the year and the resulting reassessment of
the recoverable amount of the subsidiary. The Directors will continue to monitor the financial
performance of the group undertakings and reassess the recoverability of both intercompany balances
and investments on an ongoing basis.
Legal proceedings and other provisions
Provisions for legal proceedings are recognised as other expenses when the Group has a present legal or
constructive obligation as a result of past events; it is probable that an outflow of resources will be
required to settle the obligation; and the amount can be measured reliably. At the Statement of Financial
Position date there is an ongoing claim with one supplier, if the claim is successful then an invoice,
amounting to \u20ac1,140,000, will become payable. The invoice is not provided for in the financial statements
as the Directors consider it to be null and void and raised by the supplier in breach of contract (see note
26).
The Group previously recognised a dilapidations provision of \u20ac155,887 at 31 December 2024 in respect of
the estimated cost of reinstating a leased property to its original condition at the end of the lease term.
During the year, following the closure of the Berlin club venue and termination of the associated lease,
the obligation no longer existed and the provision was fully released to the income statement. This
release forms part of the net impact of the lease exit and venue closure recognised during the year.
Revenue recognition
Revenue is recognised when control of goods or services is transferred to the customer. Revenue is
measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value
added tax and other sales taxes.
The transaction price represents the amount of consideration to which the Group expects to be entitled in
exchange for transferring goods or services to a customer, including any variable consideration which is
constrained to amounts for which it is highly probable that a significant reversal will not occur, and any
non-cash consideration, including digital assets, which is measured at fair value at contract inception.
The Group applies the practical expedients permitted by IFRS 15 and does not adjust the transaction
price for the effects of a significant financing component where the period between transfer of goods or
services and payment is one year or less, and recognises incremental costs of obtaining a contract as an
expense when incurred where the amortisation period of the related asset would be one year or less.
Revenue received in advance gives rise to contract liabilities, which are deferred and included in accruals
and deferred income. The carrying amount of deferred income included in payables is \u20ac48,327 (2024:
\u20ac401,898). These balances arise where consideration is received in advance of performance and are
recognised as revenue as the Group satisfies its performance obligations over time or at a point in time,
depending on the nature of the contract. No material obligations for returns, refunds or similar
provisions have been identified.
The policies specific to the Group\u2019s revenue streams are outlined below:
Tournaments and World Chess TV
Revenue is recognised in the period in which the event takes place; revenue is typically linked to
multiyear agreements where payment is received in advance of the event to which it relates.
World Chess Online Arena
Revenue is recognised over the period of the subscription; online subscriptions are typically paid
annually in advance.
Merchandising and Clubs
Revenue is recognised when control of the goods has transferred to the customer, typically at the point of
sale.
Segment reporting
IFRS 8 Operating Segments requires operating segments to be identified and reported in a manner
consistent with the internal reporting provided to the chief operating decision maker (\u2018CODM\u2019), which
has been identified as the Chief Executive Officer, who is responsible for allocating resources and
assessing performance of the operating segments as identified by the Directors.
The Directors have reviewed the Group\u2019s activities and consider the Group to comprise a single line of
business being a mass market promoter of chess. Within the single line of business, the Group undertakes
integrated revenue generating activities across tournaments, an online platform, chessarena.com, and
merchandise and clubs. These revenue generating activities are closely aligned within a business model
which seeks to promote a chess community across tournaments, online and physical environments.
The individual revenue generating activities are managed in an integrated way by the CODM and
executive management team who review financial information in the same integrated way. The Group
has geographically separate operations and a geographic split of revenue as well as the split between the
revenue types within its activities is included in note 3.
Cash and cash equivalents
Cash represents cash in hand and deposits held on demand with financial institutions. Cash equivalents
are short-term, highly-liquid investments with original maturities of three months or less (as at their date
of acquisition). Cash equivalents are readily convertible to known amounts of cash and subject to an
insignificant risk of change in that cash value.
In the presentation of the Statement of Cash Flows, cash and cash equivalents also include bank
overdrafts. Any such overdrafts are shown within borrowings under \u2018current liabilities\u2019 on the Statement
of Financial Position.
Crypto-assets
Included within intangible assets are crypto-assets held in the Group\u2019s name in the Binance crypto
exchange, the Group has not traded in crypto-assets to date and such activities do not form part of its
strategy. The crypto-assets are not held as long-term investments, nor do they form part of the Group\u2019s
inventory. The Group\u2019s strategy is to convert crypto-assets to fiat currencies at the earliest opportunity,
usually upon receipt or in accordance with an agreed schedule of conversion.
Any crypto-assets received are recognised at the exchange rate prevailing at the date that the risk and
reward associated with the crypto-asset passes to the Group. Where the exchange rate of the crypto-
assets has a guaranteed minimum floor price, a receivable is recognised for any short-fall.
Crypto-assets are not amortised but are reviewed for impairment if the prevailing exchange rate indicates
their value has fallen below their carrying value. Any impairment or realised exchange gains on the
conversion of crypto-assets to fiat currency are recognised within administrative expenses on the
Consolidated Statement of Profit or Loss and Other Comprehensive Income.
Other intangible assets
Amortisation is charged to the income statement on a straight-line basis over the estimated useful lives of
intangible assets.
Intangible assets are amortised from the date they are available for use. The estimated useful lives are as
follows:
\u2022
Exclusive rights to organise and host top-level chess events in association with FIDE amortised using
the straight-line method over the ten-year term of the original contract. Following the 2022 FIDE
Grand Prix, the rights were varied such that the Company now holds the exclusive right to operate
the official gaming platform of FIDE, chessarena.com. This was treated as a disposal of the old rights
and an acquisition of the new rights at the same carrying value, with the new rights being amortised
over the remaining life of the original contract. The contract is due to expire in August 2026; the
agreement provides for automatic renewal for a further five-year period unless FIDE elects to operate
the platform itself or accept a bona fide third-party offer that World Chess does not match.
\u2022
Capitalised costs associated with developing the online platform used for the FIDE Online Arena, ten
years using the straight-line method.
\u2022
Licences to operate certain software incorporated into the platform, the life of the contract, being five
years using the straight-line method.
The basis for choosing these useful lives is with reference to the years over which they can continue to
generate value for the Group.
The Group reviews the amortisation period and method whenever events or circumstances indicate that
the useful lives of intangible assets may have changed since the last reporting date. The amortisation
charge for the year is recognised within Administrative Expenses in the Consolidated Statement of Profit
or Loss and Other Comprehensive Income.
The Group assesses at each reporting date whether there is any indication that intangible assets may be
impaired. If any such indication exists, the recoverable amount of the asset is estimated. An impairment
loss is recognised in the income statement if the carrying amount of an intangible asset exceeds its
recoverable amount. The recoverable amount is determined as the higher of fair value less costs of
disposal and value in use, based on estimated future cash flows discounted to their present value.
Property, plant and equipment
Depreciation is provided in order to write off each asset over its estimated useful life or, if held as a right-
of-use asset, over the lease term, whichever is the shorter, which are typically:
\u2022
Fixtures and fittings
- Straight line between 1 and 10 years depending on the type of asset
\u2022
Computer equipment
- Straight line over 3 years
The Group assesses at each reporting date whether there is any indication that property, plant and
equipment may be impaired. If such an indication exists, the recoverable amount of the asset is estimated.
An impairment loss is recognised if the carrying amount exceeds the recoverable amount, which is
determined as the higher of fair value less costs of disposal and value in use. Any impairment losses are
recognised in profit or loss. Impairment losses are reviewed at each reporting date for possible reversal.
Financial instruments
The Group only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other receivables and payables, loans from banks and other
third parties, loans to related parties and investments in non-puttable ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and
other accounts receivable and payable, are initially measured at the present value of the future cash flows
and subsequently amortised cost using the effective interest method. Debt instruments that are payable
or receivable within one year, typically trade receivables and payables, are measured, initially and
subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or
received. However, if the arrangements of a short-term instrument constitute a financing transaction, like
the payment of trade debt deferred beyond normal business terms or financed at a rate of interest that is
not market rate or in the case of an outright short-term loan not at market rate, the financial asset or
liability is measured, initially, at the present value of the future cash flow discounted at a market rate of
interest for a similar debt instrument and subsequently at amortised cost.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting
period for objective evidence of impairment. If objective evidence of impairment is found, an impairment
loss is recognised in the Consolidated Statement of Profit or Loss and Other Comprehensive Income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference
between an asset's carrying amount and the present value of estimated cash flows discounted at the
asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for
measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference
between an asset's carrying amount and best estimate of the recoverable amount, which is an
approximation of the amount that the Company would receive for the asset if it were to be sold at the
reporting date.
Financial assets and liabilities are offset, and the net amount reported in the Statement of Financial
Position when there is an enforceable right to set off the recognised amounts and there is an intention to
settle on a net basis or to realise the asset and settle the liability simultaneously.
Inventories
Inventories of traded goods are valued at the lower of cost or net realisable value (the estimated selling
price less the estimated costs to sell), after making due allowance for obsolete and slow-moving items.
Cost is determined using the weighted average cost method. No write-downs of inventories to net
realisable value were recognised during the year (2024: nil).
Taxation
Current taxes are based on the results shown in the financial statements and are calculated according to
local tax rules in the UK, USA and Germany where the Group operates, using tax rates enacted or
substantively enacted by the reporting date.
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for
the current or past reporting periods. It is measured at the amount expected to be paid or recovered using
the tax rates and laws that have been enacted or substantively enacted by the reporting date.
Commercial legislation within the Russian Federation in which the Group operated prior to April 2022,
including tax legislation, is subject to varying interpretations and frequent changes. The Group's
management is confident that all necessary tax accruals have been made and, accordingly, no additional
provision is required in the consolidated financial statements.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position date.
Deferred tax represents the future tax consequences of transactions and events recognised in the financial
statements of current and previous periods. It is recognised in respect of all timing differences, with
certain exceptions. Timing differences are differences between taxable profits and total comprehensive
income as stated in the financial statements that arise from the inclusion of income and expense in tax
assessments in periods different from those in which they are recognised in the financial statements.
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.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by
the balance sheet date that are expected to apply to the reversal of timing differences.
The Group has applied the temporary exception introduced by the amendments to IAS 12 in respect of
the recognition and disclosure of deferred tax assets and liabilities related to Pillar Two income taxes. The
Group is not within the scope of Pillar Two income taxes and, accordingly, no such deferred taxes have
been recognised.
Research and development
Research and development expenditure is capitalised if it can be demonstrated that:
\u2022
it is technically and commercially feasible to develop the asset for future economic benefit;
\u2022
adequate resources are available to maintain and complete the development;
\u2022
there is the intention to complete and develop the asset for future economic benefit;
\u2022
the Group is able to use the asset;
\u2022
use of the asset will generate future economic benefit; and
\u2022
expenditure on the development of the asset can be measured reliably.
Other development expenditure is recognised in the Consolidated Statement of Profit and Loss as an
expense as incurred.
Capitalised development expenditure is stated at cost less accumulated amortisation and less
accumulated impairment losses.
Foreign currencies
Assets and liabilities in foreign currencies are translated into euro at the rates of exchange ruling at the
statement of financial position date. Transactions in foreign currencies are translated into euro at the rate
of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at
the operating result.
The results and financial position of subsidiaries whose functional currency is not the euro are translated
into euro as follows:
\u2022
Monetary assets and liabilities are translated at the closing exchange rate at the statement of financial
position date.
\u2022
Non-monetary items (such as equity investments and property, plant and equipment) are translated
at historical exchange rates.
\u2022
Income and expenses are translated at the average exchange rate for the period, unless exchange
rates fluctuate significantly, in which case the exchange rates at the dates of the transactions are used.
Exchange differences arising from the translation of the financial statements of foreign subsidiaries are
recognised in other comprehensive income and accumulated in a separate component of equity, called
the foreign currency translation reserve. On disposal of a foreign subsidiary, the cumulative translation
differences are reclassified to profit or loss as part of the gain or loss on disposal.
IFRS 16 \u2018Leases\u2019
Lease terms are negotiated on an individual basis and contain a wide range of different terms and
conditions. Leases are recognised as a right-of-use asset and a corresponding liability at the date at which
the leased asset is available for use by the Group. Each lease payment is allocated between the liability
and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a
constant periodic rate of interest on the remaining balance of the liability for each period.
Where ownership of the right-of-use asset transfers to the lessee at the end of the lease term, the right-of-
use asset is depreciated over the asset\u2019s remaining useful life. If ownership of the right-of-use asset does
not transfer to the lessee at the end of the lease term, depreciation is charged over the shorter of the
useful life of the right-of-use asset and the lease term.
Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities
include the net present value of the following lease payments:
\u2022
Fixed payments (including in-substance fixed payments), less any lease incentives receivable;
\u2022
Amounts expected to be payable by the lessee under residual value guarantees; and
\u2022
Payments of penalties for terminating the lease, if the lease term reflects the lessee exercising that
option.
The lease payments are discounted using the interest rate implicit in the lease, if that rate can be
determined, or the Group\u2019s incremental borrowing rate. Right-of-use assets are measured at cost
comprising the following:
\u2022
The amount of the initial measurement of lease liability;
\u2022
Any lease payments made at or before the commencement date less any lease incentives received;
and
\u2022
Any initial direct costs.
Adoption of new and revised standards
There are a number of standards, amendments to standards, and interpretations which have been issued
by the IASB that are effective from 1 January 2025, none of which have a material impact on these
financial statements.
Standards issued but not yet effective
At the date of approval of these financial statements, the following new or amended standards and
interpretations had been issued by the International Accounting Standards Board (IASB) and endorsed
for use in the UK, but were not yet effective for the year ended 31 December 2025. The Group has not
early adopted any of these standards:
\u2022
IAS 1 (Amendments) \u2013 Classification of Liabilities as Current or Non-current (effective date 1 January
2027)
\u2022
IAS 7 and IFRS 7 (Amendments) \u2013 Supplier Finance Arrangements (effective date 1 January 2027)
\u2022
IFRS 10 and IAS 28 (Amendments) \u2013 Sale or Contribution of Assets between an Investor and its
Associate or Joint Venture (effective date deferred indefinitely)
\u2022
IFRS 18 \u2013 Presentation and Disclosure in Financial Statements (effective date 1 January 2027)
\u2022
IFRS 19 \u2013 Subsidiaries without Public Accountability: Disclosures (effective date 1 January 2027)
It is not expected that the amendments listed above, except for IFRS 18, once adopted, will have a
material impact on the financial statements.
Financial liabilities
The Group does not have financial liabilities that would be classified as fair value through the profit or
loss. Therefore, all financial liabilities are classified as other financial liabilities.
The Group uses the amortised cost method for financial liabilities including borrowings, trade and other
payables and are recognised at their original amount.", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00154": { "value": "Basis of preparation
These financial statements have been prepared in accordance with UK \u2013 adopted International
Accounting Standards and IFRIC interpretations and with those parts of the Companies Act 2006
applicable to companies reporting under IFRS. The financial statements have been prepared under the
historical cost convention, except for certain financial assets and liabilities, including crypto assets which
are measured at fair value.
The Group had discontinued operations during the year relating to the Berlin club (see note 8).
The financial statements are presented in Euro which is the functional currency of the Group and
rounded to the nearest \u20ac.", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00165": { "value": "These financial statements have been prepared in accordance with UK \u2013 adopted International
Accounting Standards and IFRIC interpretations and with those parts of the Companies Act 2006
applicable to companies reporting under IFRS. The financial statements have been prepared under the
historical cost convention, except for certain financial assets and liabilities, including crypto assets which
are measured at fair value.", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00166": { "value": "The Group had discontinued operations during the year relating to the Berlin club (see note 8).8
DISCONTINUED OPERATIONS \u2013 BERLIN CLUB VENUE
During the year, the Group ceased operations of the Berlin club, which represents a discontinued
operation. The results are presented below.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Revenue
232,682
613,372
Cost of sales
(174,457)
(300,869)
GROSS PROFIT
58,225
312,503
Other operating income
2,531
16,003
Administrative expenses
(874,461)
(1,183,700)
OPERATING LOSS
(813,705)
(855,194)
Finance costs
(49,328)
(164,958)
LOSS BEFORE INCOME TAX
(863,033)
(1,020,152)
Income tax
(111,374)
48,102
LOSS FOR THE YEAR FROM DISCONTINUED
(974,407)
(972,050)
OPERATIONS
\u00a0 \u00a0
\n
Comparative information has been updated to present the Berlin club as a discontinued operation.
The loss from discontinued operations includes the impact of impairment charges, lease termination and
other related items recognised during the year in relation to the closure of the Berlin club venue which
include the gain or loss recognised on the disposal and remeasurement of assets associated with the
discontinued operation, as summarised below:
\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Impairment of non-current assets
1,764,060
-
Gain on derecognition of lease liability
(1,263,128)
-
Release of dilapidations provision
(155,887)
-
Gain on sale of non-current assets
(9,540)
-
Net impact recognised in the year
335,505
-
\n
The impairment of non-current assets relates to the write-down of assets associated with the Berlin club
venue following its closure, including property, plant and equipment and the related right-of-use asset.
Lease-related adjustments arise from the termination of the associated lease, including derecognition of
the lease liability and release of the dilapidations provision. The gain on sale of non-current assets reflects
disposals undertaken as part of the closure process.
These items are predominantly non-cash in nature, with the exception of proceeds from the disposal of
assets.
The recoverable amount of the assets associated with the discontinued operation was determined based
on fair value less costs of disposal and is categorised as Level 3 within the fair value hierarchy, reflecting
the use of unobservable inputs.
Cash flows attributable to the discontinued operation are as follows:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Net cash used in operating activities
(385,921)
(694,959)
Net cash generated from investing activities
38,201
(39,315)
Decrease in cash and cash equivalents
(347,720)
(734,274)
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfDiscontinuedOperationsExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00173": { "value": "The financial statements are presented in Euro which is the functional currency of the Group and rounded to the nearest \u20ac.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00176": { "value": "Going concern
The Group incurred a loss for the year of \u20ac3,685,704 (2024: \u20ac3,782,393) and, as at 31 December 2025, had
net current liabilities of \u20ac1,578,364 (2024: \u20ac3,459,639). These conditions indicate that the Group remains
dependent on the successful execution of its strategy and the availability of funding to meet its
obligations as they fall due.
The Directors have assessed the Group\u2019s ability to continue as a going concern for a period of at least
twelve months from the date of approval of these financial statements. This assessment has been based
on the Group\u2019s current financial position together with a review of forecast operating budgets and cash
flow projections.
The forecasts reflect the Group\u2019s strategic focus on the continued development of the World Chess Online
Arena together with ongoing cost management, including the Group\u2019s agreement with FIDE in respect of
the platform, which is due to expire in August 2026 but provides for automatic renewal in accordance
with its terms.
The forecasts assume no additional external funding beyond the post-year-end investment of
approximately \u20ac1,359,000, as described in note 30 \u2013 subsequent events, and reflect expected growth in
revenues from the Online Arena. However, the timing and extent of revenue growth remain subject to
execution risk.
While the Directors continue to seek additional investment to support further development of the
platform and provide additional headroom should revenue growth be slower than forecast, there can be
no certainty that such funding will be secured.
These conditions indicate the existence of a material uncertainty which may cast significant doubt on the
Group\u2019s ability to continue as a going concern.
Notwithstanding the above, the financial statements have been prepared on a going concern basis as the
Directors have a reasonable expectation that the Group will be able to realise its assets and discharge its
liabilities in the normal course of business.", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00181": { "value": "Basis of consolidation
The consolidated financial statements incorporate the financial statements of the Company and entities
controlled by the Company (its subsidiaries) made up to 31 December each year. Control is achieved
where the Company has the power to govern the financial and operating policies of an investee entity so
as to obtain benefits from its activities.
Intra-group balances and transactions are eliminated on consolidation.", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00190": { "value": "Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements in conformity with UK \u2013 adopted International Accounting
Standards requires the use of estimates and assumptions that affect the reported amounts of assets and
liabilities at the date of the financial statements and the reported amounts of revenue and expenses
during the reporting period. Although these estimates are based on management's best knowledge of the
amounts, events or actions, actual results ultimately may differ from these estimates. The estimates and
underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estimate is revised. The material areas in which estimates and
judgements are applied as follows:
Impairment of other intangible assets
The Group is required to test, on an annual basis, whether other intangible assets have suffered any
impairment. Determining whether there has been any impairment requires an estimation of the fair value
in use of the cash-generating units. The value in use calculation requires the Directors to estimate the
future cash flows expected to arise from the cash-generating unit and a suitable discount rate to calculate
the present value, the discount rate applied is 13.29% (2024: 12.81%). The carrying value of intangible
assets (excluding crypto assets) is set out in the table below (see also note 10):
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Group
\u00a0
2024
2024
\u00a0
\u20ac
\u20ac
Exclusive FIDE rights
110,530
221,059
Software Licences
13,000
36,000
Online Arena
2,906,076
2,942,925
\n
Sensitivity Analysis
The impairment review is sensitive to changes in key assumptions, particularly the discount rate and the
forecast revenues and costs The Directors have considered the extent to which these assumptions would
need to change for the recoverable amount to equal the carrying value of the cash-generating unit.
\u2022
The discount rate would need to increase from 13.29% to approximately 55.37% before the value in
use equals the carrying value.
\u2022
Forecast revenues would need to decrease by approximately 55% before the value in use equals the
carrying value.
\u2022
Forecast costs would need to increase by approximately 135% before the value in use equals the
carrying value.
The Directors consider these sensitivities to represent severe downside scenarios and, accordingly,
conclude that there is significant headroom and no impairment is required.
Investments and amounts owed by group undertakings for impairment (Company Only)
At each reporting date, the Company assesses whether amounts owed by group undertakings and
investments in subsidiaries have suffered any impairment. Determining whether there has been any
impairment requires an estimation of the recoverable amount of these balances, based on the financial
position and expected future cash flows of the relevant group undertakings.
This assessment involves estimating future cash flows expected to arise from the group undertakings and
applying a suitable discount rate to calculate the present value. The discount rate applied is 13.29% (2024:
12.81%).
The carrying value of amounts owed by group undertakings is as follows:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Company
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
World Chess Events Ltd
6,962,574
4,713,473
World Chess USA inc.
462,495
-
\n
The balance due from World Chess USA inc. is supported by its intercompany receivable from World
Chess Events Ltd of \u20ac581,467 and reflects the role of the entity within the Group\u2019s operating and funding
structure rather than its standalone revenue generation. Amounts due to the parent company are
classified as non-current as they are not expected to be settled within 12 months of the reporting date.
The prior year comparative has not been restated as the classification reflects conditions and expectations
at the respective reporting dates.
As at the reporting date, an impairment charge of \u20ac566,347 (2024: \u20ac2,631,441) has been recognised in the
Company\u2019s income statement in respect of amounts owed by World Chess Europe GmbH, reflecting a
reassessment of their recoverability..
In addition, during the year the Company recognised an impairment of \u20ac300,000 in respect of its
investment in World Chess Europe GmbH, reducing the carrying value of the investment to \u20acnil. This
impairment reflects the closure of the Berlin club venue during the year and the resulting reassessment of
the recoverable amount of the subsidiary. The Directors will continue to monitor the financial
performance of the group undertakings and reassess the recoverability of both intercompany balances
and investments on an ongoing basis.", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00242": { "value": "Legal proceedings and other provisions
Provisions for legal proceedings are recognised as other expenses when the Group has a present legal or
constructive obligation as a result of past events; it is probable that an outflow of resources will be
required to settle the obligation; and the amount can be measured reliably. At the Statement of Financial
Position date there is an ongoing claim with one supplier, if the claim is successful then an invoice,
amounting to \u20ac1,140,000, will become payable. The invoice is not provided for in the financial statements
as the Directors consider it to be null and void and raised by the supplier in breach of contract (see note
26).
The Group previously recognised a dilapidations provision of \u20ac155,887 at 31 December 2024 in respect of
the estimated cost of reinstating a leased property to its original condition at the end of the lease term.
During the year, following the closure of the Berlin club venue and termination of the associated lease,
the obligation no longer existed and the provision was fully released to the income statement. This
release forms part of the net impact of the lease exit and venue closure recognised during the year.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00243": { "value": "Revenue recognition
Revenue is recognised when control of goods or services is transferred to the customer. Revenue is
measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value
added tax and other sales taxes.
The transaction price represents the amount of consideration to which the Group expects to be entitled in
exchange for transferring goods or services to a customer, including any variable consideration which is
constrained to amounts for which it is highly probable that a significant reversal will not occur, and any
non-cash consideration, including digital assets, which is measured at fair value at contract inception.
The Group applies the practical expedients permitted by IFRS 15 and does not adjust the transaction
price for the effects of a significant financing component where the period between transfer of goods or
services and payment is one year or less, and recognises incremental costs of obtaining a contract as an
expense when incurred where the amortisation period of the related asset would be one year or less.
Revenue received in advance gives rise to contract liabilities, which are deferred and included in accruals
and deferred income. The carrying amount of deferred income included in payables is \u20ac48,327 (2024:
\u20ac401,898). These balances arise where consideration is received in advance of performance and are
recognised as revenue as the Group satisfies its performance obligations over time or at a point in time,
depending on the nature of the contract. No material obligations for returns, refunds or similar
provisions have been identified.
The policies specific to the Group\u2019s revenue streams are outlined below:
Tournaments and World Chess TV
Revenue is recognised in the period in which the event takes place; revenue is typically linked to
multiyear agreements where payment is received in advance of the event to which it relates.
World Chess Online Arena
Revenue is recognised over the period of the subscription; online subscriptions are typically paid
annually in advance.
Merchandising and Clubs
Revenue is recognised when control of the goods has transferred to the customer, typically at the point of
sale.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00244": { "value": "Segment reporting
IFRS 8 Operating Segments requires operating segments to be identified and reported in a manner
consistent with the internal reporting provided to the chief operating decision maker (\u2018CODM\u2019), which
has been identified as the Chief Executive Officer, who is responsible for allocating resources and
assessing performance of the operating segments as identified by the Directors.
The Directors have reviewed the Group\u2019s activities and consider the Group to comprise a single line of
business being a mass market promoter of chess. Within the single line of business, the Group undertakes
integrated revenue generating activities across tournaments, an online platform, chessarena.com, and
merchandise and clubs. These revenue generating activities are closely aligned within a business model
which seeks to promote a chess community across tournaments, online and physical environments.
The individual revenue generating activities are managed in an integrated way by the CODM and
executive management team who review financial information in the same integrated way. The Group
has geographically separate operations and a geographic split of revenue as well as the split between the
revenue types within its activities is included in note 3.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00245": { "value": "Cash and cash equivalents
Cash represents cash in hand and deposits held on demand with financial institutions. Cash equivalents
are short-term, highly-liquid investments with original maturities of three months or less (as at their date
of acquisition). Cash equivalents are readily convertible to known amounts of cash and subject to an
insignificant risk of change in that cash value.
In the presentation of the Statement of Cash Flows, cash and cash equivalents also include bank
overdrafts. Any such overdrafts are shown within borrowings under \u2018current liabilities\u2019 on the Statement
of Financial Position. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00246": { "value": "Crypto-assets
Included within intangible assets are crypto-assets held in the Group\u2019s name in the Binance crypto
exchange, the Group has not traded in crypto-assets to date and such activities do not form part of its
strategy. The crypto-assets are not held as long-term investments, nor do they form part of the Group\u2019s
inventory. The Group\u2019s strategy is to convert crypto-assets to fiat currencies at the earliest opportunity,
usually upon receipt or in accordance with an agreed schedule of conversion.
Any crypto-assets received are recognised at the exchange rate prevailing at the date that the risk and
reward associated with the crypto-asset passes to the Group. Where the exchange rate of the crypto-
assets has a guaranteed minimum floor price, a receivable is recognised for any short-fall.
Crypto-assets are not amortised but are reviewed for impairment if the prevailing exchange rate indicates
their value has fallen below their carrying value. Any impairment or realised exchange gains on the
conversion of crypto-assets to fiat currency are recognised within administrative expenses on the
Consolidated Statement of Profit or Loss and Other Comprehensive Income.
Other intangible assets
Amortisation is charged to the income statement on a straight-line basis over the estimated useful lives of
intangible assets.
Intangible assets are amortised from the date they are available for use. The estimated useful lives are as
follows:
\u2022
Exclusive rights to organise and host top-level chess events in association with FIDE amortised using
the straight-line method over the ten-year term of the original contract. Following the 2022 FIDE
Grand Prix, the rights were varied such that the Company now holds the exclusive right to operate
the official gaming platform of FIDE, chessarena.com. This was treated as a disposal of the old rights
and an acquisition of the new rights at the same carrying value, with the new rights being amortised
over the remaining life of the original contract. The contract is due to expire in August 2026; the
agreement provides for automatic renewal for a further five-year period unless FIDE elects to operate
the platform itself or accept a bona fide third-party offer that World Chess does not match.
\u2022
Capitalised costs associated with developing the online platform used for the FIDE Online Arena, ten
years using the straight-line method.
\u2022
Licences to operate certain software incorporated into the platform, the life of the contract, being five
years using the straight-line method.
The basis for choosing these useful lives is with reference to the years over which they can continue to
generate value for the Group.
The Group reviews the amortisation period and method whenever events or circumstances indicate that
the useful lives of intangible assets may have changed since the last reporting date. The amortisation
charge for the year is recognised within Administrative Expenses in the Consolidated Statement of Profit
or Loss and Other Comprehensive Income.
The Group assesses at each reporting date whether there is any indication that intangible assets may be
impaired. If any such indication exists, the recoverable amount of the asset is estimated. An impairment
loss is recognised in the income statement if the carrying amount of an intangible asset exceeds its
recoverable amount. The recoverable amount is determined as the higher of fair value less costs of
disposal and value in use, based on estimated future cash flows discounted to their present value.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00248": { "value": "Crypto-assets are not amortised but are reviewed for impairment if the prevailing exchange rate indicates
their value has fallen below their carrying value. Any impairment or realised exchange gains on the
conversion of crypto-assets to fiat currency are recognised within administrative expenses on the
Consolidated Statement of Profit or Loss and Other Comprehensive Income.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00247": { "value": "Crypto-assets are not amortised but are reviewed for impairment if the prevailing exchange rate indicates
their value has fallen below their carrying value. Any impairment or realised exchange gains on the
conversion of crypto-assets to fiat currency are recognised within administrative expenses on the
Consolidated Statement of Profit or Loss and Other Comprehensive Income.Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting
period for objective evidence of impairment. If objective evidence of impairment is found, an impairment
loss is recognised in the Consolidated Statement of Profit or Loss and Other Comprehensive Income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference
between an asset's carrying amount and the present value of estimated cash flows discounted at the
asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for
measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference
between an asset's carrying amount and best estimate of the recoverable amount, which is an
approximation of the amount that the Company would receive for the asset if it were to be sold at the
reporting date.
Financial assets and liabilities are offset, and the net amount reported in the Statement of Financial
Position when there is an enforceable right to set off the recognised amounts and there is an intention to
settle on a net basis or to realise the asset and settle the liability simultaneously.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00249": { "value": "Property, plant and equipment
Depreciation is provided in order to write off each asset over its estimated useful life or, if held as a right-
of-use asset, over the lease term, whichever is the shorter, which are typically:
\u2022
Fixtures and fittings
- Straight line between 1 and 10 years depending on the type of asset
\u2022
Computer equipment
- Straight line over 3 years
The Group assesses at each reporting date whether there is any indication that property, plant and
equipment may be impaired. If such an indication exists, the recoverable amount of the asset is estimated.
An impairment loss is recognised if the carrying amount exceeds the recoverable amount, which is
determined as the higher of fair value less costs of disposal and value in use. Any impairment losses are
recognised in profit or loss. Impairment losses are reviewed at each reporting date for possible reversal.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00250": { "value": "Depreciation is provided in order to write off each asset over its estimated useful life or, if held as a right-
of-use asset, over the lease term, whichever is the shorter, which are typically:
\u2022
Fixtures and fittings
- Straight line between 1 and 10 years depending on the type of asset
\u2022
Computer equipment
- Straight line over 3 years ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00252": { "value": "Financial instruments
The Group only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other receivables and payables, loans from banks and other
third parties, loans to related parties and investments in non-puttable ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and
other accounts receivable and payable, are initially measured at the present value of the future cash flows
and subsequently amortised cost using the effective interest method. Debt instruments that are payable
or receivable within one year, typically trade receivables and payables, are measured, initially and
subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or
received. However, if the arrangements of a short-term instrument constitute a financing transaction, like
the payment of trade debt deferred beyond normal business terms or financed at a rate of interest that is
not market rate or in the case of an outright short-term loan not at market rate, the financial asset or
liability is measured, initially, at the present value of the future cash flow discounted at a market rate of
interest for a similar debt instrument and subsequently at amortised cost.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting
period for objective evidence of impairment. If objective evidence of impairment is found, an impairment
loss is recognised in the Consolidated Statement of Profit or Loss and Other Comprehensive Income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference
between an asset's carrying amount and the present value of estimated cash flows discounted at the
asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for
measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference
between an asset's carrying amount and best estimate of the recoverable amount, which is an
approximation of the amount that the Company would receive for the asset if it were to be sold at the
reporting date.
Financial assets and liabilities are offset, and the net amount reported in the Statement of Financial
Position when there is an enforceable right to set off the recognised amounts and there is an intention to
settle on a net basis or to realise the asset and settle the liability simultaneously.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00251": { "value": "Financial instruments
The Group only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other receivables and payables, loans from banks and other
third parties, loans to related parties and investments in non-puttable ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and
other accounts receivable and payable, are initially measured at the present value of the future cash flows
and subsequently amortised cost using the effective interest method. Debt instruments that are payable
or receivable within one year, typically trade receivables and payables, are measured, initially and
subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or
received. However, if the arrangements of a short-term instrument constitute a financing transaction, like
the payment of trade debt deferred beyond normal business terms or financed at a rate of interest that is
not market rate or in the case of an outright short-term loan not at market rate, the financial asset or
liability is measured, initially, at the present value of the future cash flow discounted at a market rate of
interest for a similar debt instrument and subsequently at amortised cost.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting
period for objective evidence of impairment. If objective evidence of impairment is found, an impairment
loss is recognised in the Consolidated Statement of Profit or Loss and Other Comprehensive Income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference
between an asset's carrying amount and the present value of estimated cash flows discounted at the
asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for
measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference
between an asset's carrying amount and best estimate of the recoverable amount, which is an
approximation of the amount that the Company would receive for the asset if it were to be sold at the
reporting date.
Financial assets and liabilities are offset, and the net amount reported in the Statement of Financial
Position when there is an enforceable right to set off the recognised amounts and there is an intention to
settle on a net basis or to realise the asset and settle the liability simultaneously.Financial liabilities
The Group does not have financial liabilities that would be classified as fair value through the profit or
loss. Therefore, all financial liabilities are classified as other financial liabilities.
The Group uses the amortised cost method for financial liabilities including borrowings, trade and other
payables and are recognised at their original amount.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00256": { "value": "Debt instruments (other than those wholly repayable or receivable within one year), including loans and
other accounts receivable and payable, are initially measured at the present value of the future cash flows
and subsequently amortised cost using the effective interest method. Debt instruments that are payable
or receivable within one year, typically trade receivables and payables, are measured, initially and
subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or
received. However, if the arrangements of a short-term instrument constitute a financing transaction, like
the payment of trade debt deferred beyond normal business terms or financed at a rate of interest that is
not market rate or in the case of an outright short-term loan not at market rate, the financial asset or
liability is measured, initially, at the present value of the future cash flow discounted at a market rate of
interest for a similar debt instrument and subsequently at amortised cost.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00255": { "value": "Debt instruments (other than those wholly repayable or receivable within one year), including loans and
other accounts receivable and payable, are initially measured at the present value of the future cash flows
and subsequently amortised cost using the effective interest method. Debt instruments that are payable
or receivable within one year, typically trade receivables and payables, are measured, initially and
subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or
received. However, if the arrangements of a short-term instrument constitute a financing transaction, like
the payment of trade debt deferred beyond normal business terms or financed at a rate of interest that is
not market rate or in the case of an outright short-term loan not at market rate, the financial asset or
liability is measured, initially, at the present value of the future cash flow discounted at a market rate of
interest for a similar debt instrument and subsequently at amortised cost.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00254": { "value": "Debt instruments (other than those wholly repayable or receivable within one year), including loans and
other accounts receivable and payable, are initially measured at the present value of the future cash flows
and subsequently amortised cost using the effective interest method. Debt instruments that are payable
or receivable within one year, typically trade receivables and payables, are measured, initially and
subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or
received. However, if the arrangements of a short-term instrument constitute a financing transaction, like
the payment of trade debt deferred beyond normal business terms or financed at a rate of interest that is
not market rate or in the case of an outright short-term loan not at market rate, the financial asset or
liability is measured, initially, at the present value of the future cash flow discounted at a market rate of
interest for a similar debt instrument and subsequently at amortised cost.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00257": { "value": "Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting
period for objective evidence of impairment. If objective evidence of impairment is found, an impairment
loss is recognised in the Consolidated Statement of Profit or Loss and Other Comprehensive Income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference
between an asset's carrying amount and the present value of estimated cash flows discounted at the
asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for
measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference
between an asset's carrying amount and best estimate of the recoverable amount, which is an
approximation of the amount that the Company would receive for the asset if it were to be sold at the
reporting date.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00258": { "value": "Financial assets and liabilities are offset, and the net amount reported in the Statement of Financial
Position when there is an enforceable right to set off the recognised amounts and there is an intention to
settle on a net basis or to realise the asset and settle the liability simultaneously.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00259": { "value": "Inventories
Inventories of traded goods are valued at the lower of cost or net realisable value (the estimated selling
price less the estimated costs to sell), after making due allowance for obsolete and slow-moving items.
Cost is determined using the weighted average cost method. No write-downs of inventories to net
realisable value were recognised during the year (2024: nil).", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00260": { "value": "Taxation
Current taxes are based on the results shown in the financial statements and are calculated according to
local tax rules in the UK, USA and Germany where the Group operates, using tax rates enacted or
substantively enacted by the reporting date.
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for
the current or past reporting periods. It is measured at the amount expected to be paid or recovered using
the tax rates and laws that have been enacted or substantively enacted by the reporting date.
Commercial legislation within the Russian Federation in which the Group operated prior to April 2022,
including tax legislation, is subject to varying interpretations and frequent changes. The Group's
management is confident that all necessary tax accruals have been made and, accordingly, no additional
provision is required in the consolidated financial statements.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position date.
Deferred tax represents the future tax consequences of transactions and events recognised in the financial
statements of current and previous periods. It is recognised in respect of all timing differences, with
certain exceptions. Timing differences are differences between taxable profits and total comprehensive
income as stated in the financial statements that arise from the inclusion of income and expense in tax
assessments in periods different from those in which they are recognised in the financial statements.
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.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by
the balance sheet date that are expected to apply to the reversal of timing differences.
The Group has applied the temporary exception introduced by the amendments to IAS 12 in respect of
the recognition and disclosure of deferred tax assets and liabilities related to Pillar Two income taxes. The
Group is not within the scope of Pillar Two income taxes and, accordingly, no such deferred taxes have
been recognised.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00261": { "value": "Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position date.
Deferred tax represents the future tax consequences of transactions and events recognised in the financial
statements of current and previous periods. It is recognised in respect of all timing differences, with
certain exceptions. Timing differences are differences between taxable profits and total comprehensive
income as stated in the financial statements that arise from the inclusion of income and expense in tax
assessments in periods different from those in which they are recognised in the financial statements.
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.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by
the balance sheet date that are expected to apply to the reversal of timing differences.
The Group has applied the temporary exception introduced by the amendments to IAS 12 in respect of
the recognition and disclosure of deferred tax assets and liabilities related to Pillar Two income taxes. The
Group is not within the scope of Pillar Two income taxes and, accordingly, no such deferred taxes have
been recognised.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00262": { "value": "Research and development
Research and development expenditure is capitalised if it can be demonstrated that:
\u2022
it is technically and commercially feasible to develop the asset for future economic benefit;
\u2022
adequate resources are available to maintain and complete the development;
\u2022
there is the intention to complete and develop the asset for future economic benefit;
\u2022
the Group is able to use the asset;
\u2022
use of the asset will generate future economic benefit; and
\u2022
expenditure on the development of the asset can be measured reliably.
Other development expenditure is recognised in the Consolidated Statement of Profit and Loss as an
expense as incurred.
Capitalised development expenditure is stated at cost less accumulated amortisation and less
accumulated impairment losses.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00263": { "value": "Foreign currencies
Assets and liabilities in foreign currencies are translated into euro at the rates of exchange ruling at the
statement of financial position date. Transactions in foreign currencies are translated into euro at the rate
of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at
the operating result.
The results and financial position of subsidiaries whose functional currency is not the euro are translated
into euro as follows:
\u2022
Monetary assets and liabilities are translated at the closing exchange rate at the statement of financial
position date.
\u2022
Non-monetary items (such as equity investments and property, plant and equipment) are translated
at historical exchange rates.
\u2022
Income and expenses are translated at the average exchange rate for the period, unless exchange
rates fluctuate significantly, in which case the exchange rates at the dates of the transactions are used.
Exchange differences arising from the translation of the financial statements of foreign subsidiaries are
recognised in other comprehensive income and accumulated in a separate component of equity, called
the foreign currency translation reserve. On disposal of a foreign subsidiary, the cumulative translation
differences are reclassified to profit or loss as part of the gain or loss on disposal. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00264": { "value": "IFRS 16 \u2018Leases\u2019
Lease terms are negotiated on an individual basis and contain a wide range of different terms and
conditions. Leases are recognised as a right-of-use asset and a corresponding liability at the date at which
the leased asset is available for use by the Group. Each lease payment is allocated between the liability
and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a
constant periodic rate of interest on the remaining balance of the liability for each period.
Where ownership of the right-of-use asset transfers to the lessee at the end of the lease term, the right-of-
use asset is depreciated over the asset\u2019s remaining useful life. If ownership of the right-of-use asset does
not transfer to the lessee at the end of the lease term, depreciation is charged over the shorter of the
useful life of the right-of-use asset and the lease term.
Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities
include the net present value of the following lease payments:
\u2022
Fixed payments (including in-substance fixed payments), less any lease incentives receivable;
\u2022
Amounts expected to be payable by the lessee under residual value guarantees; and
\u2022
Payments of penalties for terminating the lease, if the lease term reflects the lessee exercising that
option.
The lease payments are discounted using the interest rate implicit in the lease, if that rate can be
determined, or the Group\u2019s incremental borrowing rate. Right-of-use assets are measured at cost
comprising the following:
\u2022
The amount of the initial measurement of lease liability;
\u2022
Any lease payments made at or before the commencement date less any lease incentives received;
and
\u2022
Any initial direct costs.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00150": { "value": "Adoption of new and revised standards
There are a number of standards, amendments to standards, and interpretations which have been issued
by the IASB that are effective from 1 January 2025, none of which have a material impact on these
financial statements.", "dimensions": { "concept": "ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00149": { "value": "Adoption of new and revised standards
There are a number of standards, amendments to standards, and interpretations which have been issued
by the IASB that are effective from 1 January 2025, none of which have a material impact on these
financial statements.
Standards issued but not yet effective
At the date of approval of these financial statements, the following new or amended standards and
interpretations had been issued by the International Accounting Standards Board (IASB) and endorsed
for use in the UK, but were not yet effective for the year ended 31 December 2025. The Group has not
early adopted any of these standards:
\u2022
IAS 1 (Amendments) \u2013 Classification of Liabilities as Current or Non-current (effective date 1 January
2027)
\u2022
IAS 7 and IFRS 7 (Amendments) \u2013 Supplier Finance Arrangements (effective date 1 January 2027)
\u2022
IFRS 10 and IAS 28 (Amendments) \u2013 Sale or Contribution of Assets between an Investor and its
Associate or Joint Venture (effective date deferred indefinitely)
\u2022
IFRS 18 \u2013 Presentation and Disclosure in Financial Statements (effective date 1 January 2027)
\u2022
IFRS 19 \u2013 Subsidiaries without Public Accountability: Disclosures (effective date 1 January 2027)
It is not expected that the amendments listed above, except for IFRS 18, once adopted, will have a
material impact on the financial statements.", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00148": { "value": "Adoption of new and revised standards
There are a number of standards, amendments to standards, and interpretations which have been issued
by the IASB that are effective from 1 January 2025, none of which have a material impact on these
financial statements.
Standards issued but not yet effective
At the date of approval of these financial statements, the following new or amended standards and
interpretations had been issued by the International Accounting Standards Board (IASB) and endorsed
for use in the UK, but were not yet effective for the year ended 31 December 2025. The Group has not
early adopted any of these standards:
\u2022
IAS 1 (Amendments) \u2013 Classification of Liabilities as Current or Non-current (effective date 1 January
2027)
\u2022
IAS 7 and IFRS 7 (Amendments) \u2013 Supplier Finance Arrangements (effective date 1 January 2027)
\u2022
IFRS 10 and IAS 28 (Amendments) \u2013 Sale or Contribution of Assets between an Investor and its
Associate or Joint Venture (effective date deferred indefinitely)
\u2022
IFRS 18 \u2013 Presentation and Disclosure in Financial Statements (effective date 1 January 2027)
\u2022
IFRS 19 \u2013 Subsidiaries without Public Accountability: Disclosures (effective date 1 January 2027)
It is not expected that the amendments listed above, except for IFRS 18, once adopted, will have a
material impact on the financial statements.", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00153": { "value": "Standards issued but not yet effective
At the date of approval of these financial statements, the following new or amended standards and
interpretations had been issued by the International Accounting Standards Board (IASB) and endorsed
for use in the UK, but were not yet effective for the year ended 31 December 2025. The Group has not
early adopted any of these standards:
\u2022
IAS 1 (Amendments) \u2013 Classification of Liabilities as Current or Non-current (effective date 1 January
2027)
\u2022
IAS 7 and IFRS 7 (Amendments) \u2013 Supplier Finance Arrangements (effective date 1 January 2027)
\u2022
IFRS 10 and IAS 28 (Amendments) \u2013 Sale or Contribution of Assets between an Investor and its
Associate or Joint Venture (effective date deferred indefinitely)
\u2022
IFRS 18 \u2013 Presentation and Disclosure in Financial Statements (effective date 1 January 2027)
\u2022
IFRS 19 \u2013 Subsidiaries without Public Accountability: Disclosures (effective date 1 January 2027)
It is not expected that the amendments listed above, except for IFRS 18, once adopted, will have a
material impact on the financial statements.", "dimensions": { "concept": "ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00253": { "value": "Financial liabilities
The Group does not have financial liabilities that would be classified as fair value through the profit or
loss. Therefore, all financial liabilities are classified as other financial liabilities.
The Group uses the amortised cost method for financial liabilities including borrowings, trade and other
payables and are recognised at their original amount.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00193": { "value": "3
REVENUE
Revenue from contracts with customers
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Revenue by type
2025
2024
\u00a0
\u20ac
\u20ac
Continuing operations:
\u00a0 \u00a0
Tournaments and World Chess TV
545,508
394,736
World Chess Online Arena
863,751
691,144
Merchandising
542,491
734,921
Chess advisory services
77,683
-
Total continuing operations
2,029,433
1,820,801
Discontinued operations:
\u00a0 \u00a0
Berlin club venue
232,682
613,372
Total revenue
2,262,115
2,434,173
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
By geographical area
2025
2024
\u00a0
\u20ac
\u20ac
United Kingdom
1,839,934
1,677,916
United States of America
111,786
66,085
Europe
77,713
76,800
\u00a0
2,029,433
1,820,801
\n
Revenue is reported by geographical area based on the location where the revenue is recognised in the
Group\u2019s financial records, rather than the location of the customer. Comparative information has been
amended to exclude revenue from discontinued operations.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
By timing of recognition
2025
2024
\u00a0
\u20ac
\u20ac
Revenue recognised over time
1,409,259
1,085,880
Revenue recognised at a point in time
620,174
734,921
\u00a0
2,029,433
1,820,801
\n
Revenue recognised over time relates primarily to subscription income from the Online Arena and
Sponsorship income, which are recognised evenly over the duration of the performance obligation.
Revenue recognised at a point in time includes, merchandise sales, which are recognised when control of
the goods or services transfers to the customer.
Comparative information has been amended to exclude revenue from discontinued operations.
Major customer
Included in Tournaments and World Chess TV revenue are revenues of \u20ac371,250 attributable to a major
customer (2024: \u20ac353,004), which represent more than 10% of revenue.
Included in Online Arena revenue are revenues of \u20ac475,176 attributable to a major customer (2024:
\u20ac303,408), being a customer which represents more than 10% of revenue.", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00192": { "value": "3
REVENUE
Revenue from contracts with customers
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Revenue by type
2025
2024
\u00a0
\u20ac
\u20ac
Continuing operations:
\u00a0 \u00a0
Tournaments and World Chess TV
545,508
394,736
World Chess Online Arena
863,751
691,144
Merchandising
542,491
734,921
Chess advisory services
77,683
-
Total continuing operations
2,029,433
1,820,801
Discontinued operations:
\u00a0 \u00a0
Berlin club venue
232,682
613,372
Total revenue
2,262,115
2,434,173
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
By geographical area
2025
2024
\u00a0
\u20ac
\u20ac
United Kingdom
1,839,934
1,677,916
United States of America
111,786
66,085
Europe
77,713
76,800
\u00a0
2,029,433
1,820,801
\n
Revenue is reported by geographical area based on the location where the revenue is recognised in the
Group\u2019s financial records, rather than the location of the customer. Comparative information has been
amended to exclude revenue from discontinued operations.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
By timing of recognition
2025
2024
\u00a0
\u20ac
\u20ac
Revenue recognised over time
1,409,259
1,085,880
Revenue recognised at a point in time
620,174
734,921
\u00a0
2,029,433
1,820,801
\n
Revenue recognised over time relates primarily to subscription income from the Online Arena and
Sponsorship income, which are recognised evenly over the duration of the performance obligation.
Revenue recognised at a point in time includes, merchandise sales, which are recognised when control of
the goods or services transfers to the customer.
Comparative information has been amended to exclude revenue from discontinued operations.
Major customer
Included in Tournaments and World Chess TV revenue are revenues of \u20ac371,250 attributable to a major
customer (2024: \u20ac353,004), which represent more than 10% of revenue.
Included in Online Arena revenue are revenues of \u20ac475,176 attributable to a major customer (2024:
\u20ac303,408), being a customer which represents more than 10% of revenue.", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00191": { "value": "3
REVENUE
Revenue from contracts with customers
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Revenue by type
2025
2024
\u00a0
\u20ac
\u20ac
Continuing operations:
\u00a0 \u00a0
Tournaments and World Chess TV
545,508
394,736
World Chess Online Arena
863,751
691,144
Merchandising
542,491
734,921
Chess advisory services
77,683
-
Total continuing operations
2,029,433
1,820,801
Discontinued operations:
\u00a0 \u00a0
Berlin club venue
232,682
613,372
Total revenue
2,262,115
2,434,173
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
By geographical area
2025
2024
\u00a0
\u20ac
\u20ac
United Kingdom
1,839,934
1,677,916
United States of America
111,786
66,085
Europe
77,713
76,800
\u00a0
2,029,433
1,820,801
\n
Revenue is reported by geographical area based on the location where the revenue is recognised in the
Group\u2019s financial records, rather than the location of the customer. Comparative information has been
amended to exclude revenue from discontinued operations.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
By timing of recognition
2025
2024
\u00a0
\u20ac
\u20ac
Revenue recognised over time
1,409,259
1,085,880
Revenue recognised at a point in time
620,174
734,921
\u00a0
2,029,433
1,820,801
\n
Revenue recognised over time relates primarily to subscription income from the Online Arena and
Sponsorship income, which are recognised evenly over the duration of the performance obligation.
Revenue recognised at a point in time includes, merchandise sales, which are recognised when control of
the goods or services transfers to the customer.
Comparative information has been amended to exclude revenue from discontinued operations.
Major customer
Included in Tournaments and World Chess TV revenue are revenues of \u20ac371,250 attributable to a major
customer (2024: \u20ac353,004), which represent more than 10% of revenue.
Included in Online Arena revenue are revenues of \u20ac475,176 attributable to a major customer (2024:
\u20ac303,408), being a customer which represents more than 10% of revenue.", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00195": { "value": "4
EMPLOYEES AND DIRECTORS
The aggregate payroll costs (including Directors not under employment contracts)
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Wages and salaries
815,572
1,282,546
Social security costs
134,150
208,280
Pension contributions:
2,446
2,334
\u00a0
952,168
1,493,160
\n
In the opinion of the Board, only the Directors of the Company, as detailed in the Corporate Governance
Report, are regarded as key management personnel. The remuneration of key management personnel
during 2025 was, in aggregate, \u20ac550,077 (2024: \u20ac553,316).
Contributions to a defined contribution pension scheme on behalf of Directors of \u20ac2,446 (2024: \u20ac2,334)
were made during the year.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Directors' remuneration:
550,077
553,317
Pension contributions:
2,446
2,334
\u00a0
552,523
555,651
\n
Further details of Directors\u2019, including Non-Executive Directors\u2019, remuneration and fees during the year
are set out in the Directors Remuneration Report on page 34 of these consolidated financial statements.
The highest paid director was Ilya Merenzon whose total remuneration was \u20ac212,400 (2024: \u20ac212,400).
The average number of employees (including Directors) during the year was as follows
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
Directors
5
6
Other Employees
7
24
\u00a0
12
30
\nThe Group had no UK employees in 2025 and 2024 except the Directors.", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00194": { "value": "4
EMPLOYEES AND DIRECTORS
The aggregate payroll costs (including Directors not under employment contracts)
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Wages and salaries
815,572
1,282,546
Social security costs
134,150
208,280
Pension contributions:
2,446
2,334
\u00a0
952,168
1,493,160
\n
In the opinion of the Board, only the Directors of the Company, as detailed in the Corporate Governance
Report, are regarded as key management personnel. The remuneration of key management personnel
during 2025 was, in aggregate, \u20ac550,077 (2024: \u20ac553,316).
Contributions to a defined contribution pension scheme on behalf of Directors of \u20ac2,446 (2024: \u20ac2,334)
were made during the year.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Directors' remuneration:
550,077
553,317
Pension contributions:
2,446
2,334
\u00a0
552,523
555,651
\n
Further details of Directors\u2019, including Non-Executive Directors\u2019, remuneration and fees during the year
are set out in the Directors Remuneration Report on page 34 of these consolidated financial statements.
The highest paid director was Ilya Merenzon whose total remuneration was \u20ac212,400 (2024: \u20ac212,400).
The average number of employees (including Directors) during the year was as follows
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
Directors
5
6
Other Employees
7
24
\u00a0
12
30
\nThe Group had no UK employees in 2025 and 2024 except the Directors.", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00196": { "value": "In the opinion of the Board, only the Directors of the Company, as detailed in the Corporate Governance
Report, are regarded as key management personnel. The remuneration of key management personnel
during 2025 was, in aggregate, \u20ac550,077 (2024: \u20ac553,316).
Contributions to a defined contribution pension scheme on behalf of Directors of \u20ac2,446 (2024: \u20ac2,334)
were made during the year.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Directors' remuneration:
550,077
553,317
Pension contributions:
2,446
2,334
\u00a0
552,523
555,651
\n
Further details of Directors\u2019, including Non-Executive Directors\u2019, remuneration and fees during the year
are set out in the Directors Remuneration Report on page 34 of these consolidated financial statements.
The highest paid director was Ilya Merenzon whose total remuneration was \u20ac212,400 (2024: \u20ac212,400).
The average number of employees (including Directors) during the year was as follows
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
Directors
5
6
Other Employees
7
24
\u00a0
12
30
The Group had no UK employees in 2025 and 2024 except the Directors.", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00197": { "value": "5
NET FINANCE COSTS
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Finance income:
\u00a0 \u00a0
Loan interest receivable
1,212
139
Finance costs:
\u00a0 \u00a0
Other interest on loan
(21,856)
(22,367)
Net finance costs
(20,644)
(22,228)
\nFinance costs relating to discontinued operations are disclosed within note 8.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00198": { "value": "5
NET FINANCE COSTS
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Finance income:
\u00a0 \u00a0
Loan interest receivable
1,212
139
Finance costs:
\u00a0 \u00a0
Other interest on loan
(21,856)
(22,367)
Net finance costs
(20,644)
(22,228)
\nFinance costs relating to discontinued operations are disclosed within note 8.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00199": { "value": "5
NET FINANCE COSTS
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Finance income:
\u00a0 \u00a0
Loan interest receivable
1,212
139
Finance costs:
\u00a0 \u00a0
Other interest on loan
(21,856)
(22,367)
Net finance costs
(20,644)
(22,228)
\nFinance costs relating to discontinued operations are disclosed within note 8.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00201": { "value": "5
NET FINANCE COSTS
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Finance income:
\u00a0 \u00a0
Loan interest receivable
1,212
139
Finance costs:
\u00a0 \u00a0
Other interest on loan
(21,856)
(22,367)
Net finance costs
(20,644)
(22,228)
\nFinance costs relating to discontinued operations are disclosed within note 8.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00200": { "value": "5
NET FINANCE COSTS
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Finance income:
\u00a0 \u00a0
Loan interest receivable
1,212
139
Finance costs:
\u00a0 \u00a0
Other interest on loan
(21,856)
(22,367)
Net finance costs
(20,644)
(22,228)
\nFinance costs relating to discontinued operations are disclosed within note 8.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00202": { "value": "5
NET FINANCE COSTS
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Finance income:
\u00a0 \u00a0
Loan interest receivable
1,212
139
Finance costs:
\u00a0 \u00a0
Other interest on loan
(21,856)
(22,367)
Net finance costs
(20,644)
(22,228)
\nFinance costs relating to discontinued operations are disclosed within note 8.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00203": { "value": "6
LOSS BEFORE INCOME TAX \u2013 CONTINUING OPERATIONS
The loss before income tax is stated after charging/(crediting):
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Cost of inventories recognised as expense
1,419,901
1,331,799
Research costs expensed
78,654
72,801
Depreciation - owned assets
384
1,312
Exclusive FIDE rights amortisation
110,529
110,529
Licence amortisation
23,000
23,000
Computer software amortisation
516,083
446,357
Auditors' remuneration for the audit of the Companies
121,915
104,223
consolidated group accounts
\u00a0 \u00a0
Auditor\u2019s remuneration for the audit of the individual accounts
-
44,667
of subsidiaries
\u00a0 \u00a0
Foreign exchange loss/(gain)
12,510
(25,794)
\n
Amounts relating to discontinued operations are presented within note 8. Comparative information has
been amended accordingly.", "dimensions": { "concept": "ifrs-full:DisclosureOfProfitLossFromOperatingActivitiesExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00204": { "value": "\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Cost of inventories recognised as expense
1,419,901
1,331,799
Research costs expensed
78,654
72,801
Depreciation - owned assets
384
1,312
Exclusive FIDE rights amortisation
110,529
110,529
Licence amortisation
23,000
23,000
Computer software amortisation
516,083
446,357
Auditors' remuneration for the audit of the Companies
121,915
104,223
consolidated group accounts
\u00a0 \u00a0
Auditor\u2019s remuneration for the audit of the individual accounts
-
44,667
of subsidiaries
\u00a0 \u00a0
Foreign exchange loss/(gain)
12,510
(25,794)
\n
Amounts relating to discontinued operations are presented within note 8. Comparative information has
been amended accordingly.\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Group
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
\u00a0
Exclusive
Software
Online
Crypto-
Total
\u00a0
FIDE rights
Licence
Arena
assets
\u00a0
\u00a0
\u20ac
\u20ac
\u20ac
\u20ac
\u20ac
COST
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
At 1 January 2025
331,588
115,000
4,622,229
277,166
5,345,983
Additions
-
-
479,234
3,422,162
3,901,396
Disposals
-
-
-
(3,698,854)
(3,698,854)
At 31 December 2025
331,588
115,000
5,101,463
474
5,548,525
AMORTISATION
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
At 1 January 2025
110,529
79,000
1,679,304
-
1,868,833
Amortisation for year
110,529
23,000
516,083
-
649,612
At 31 December 2025
221,058
102,000
2,195,387
-
2,518,445
NET BOOK VALUE
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
At 31 December 2025
110,530
13,000
2,906,076
474
3,030,080
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Exclusive
Software
Online
Crypto-
Total
\u00a0
FIDE rights
Licence
Arena
assets
\u00a0
\u00a0
\u20ac
\u20ac
\u20ac
\u20ac
\u20ac
COST
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
At 1 January 2024
331,588
115,000
3,924,971
4,215
4,375,774
Additions
-
-
697,258
5,776,269
6,473,527
Disposals
-
-
-
(5,503,318)
(5,503,318)
At 31 December 2024
331,588
115,000
4,622,229
277,166
5,345,983
AMORTISATION
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
At 1 January 2024
-
56,000
1,232,947
-
1,288,947
Amortisation for year
110,529
23,000
446,357
-
579,886
At 31 December 2024
110,529
79,000
1,679,304
-
1,868,833
NET BOOK VALUE
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
At 31 December 2024
221,059
36,000
2,942,925
277,166
3,477,150
\n\n\n \u00a0 \u00a0
Group
\u00a0 \u00a0 \u00a0\n \n
Right of use
Fixtures and
Computer
Total
asset
fittings
Equipment
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
\u20ac
\u20ac
\u20ac
\u20ac
COST
\u00a0 \u00a0 \u00a0 \u00a0
At 1 January 2025
1,495,114
1,322,946
1,698
2,819,758
Additions
-
5,235
-
5,235
Disposals
(1,495,114)
(1,249,228)
-
(2,744,342)
At 31 December 2025
-
78,953
1,698
80,651
DEPRECIATION
\u00a0 \u00a0 \u00a0 \u00a0
At 1 January 2025
439,147
387,706
1,698
828,551
Charge for year
62,855
126,765
-
189,620
Elimination on disposal
(502,002)
(444,193)
-
(946,195)
At 31 December 2025
-
70,278
1,698
71,976
NET BOOK VALUE
\u00a0 \u00a0 \u00a0 \u00a0
At 31 December 2025
-
8,675
-
8,675
\n
During the year, following the closure of the Berlin club venue, the Group derecognised assets associated
with the venue, including the right-of-use asset and fixtures and fittings. The movements presented as
disposals in the table above comprise a combination of impairments, scrappage and disposals and do not
represent disposals for consideration in all cases. These include an impairment charge of \u20ac1,764,060
recognised in relation to the discontinued Berlin club (see note 8).
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Right of use
Fixtures and
Computer
Total
\u00a0
asset
fittings
Equipment
\u00a0
\u00a0
\u20ac
\u20ac
\u20ac
\u20ac
COST
\u00a0 \u00a0 \u00a0 \u00a0
At 1 January 2024
1,495,114
1,283,631
1,698
2,780,443
Additions
-
39,315
-
39,315
At 31 December 2024
1,495,114
1,322,946
1,698
2,819,758
DEPRECIATION
\u00a0 \u00a0 \u00a0 \u00a0
At 1 January 2024
288,294
254,115
1,698
544,107
Charge for year
150,853
133,591
-
284,444
At 31 December 2024
439,147
387,706
1,698
828,551
NET BOOK VALUE
\u00a0 \u00a0 \u00a0 \u00a0
At 31 December 2024
1,055,967
935,240
-
1,991,207
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00205": { "value": "\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Cost of inventories recognised as expense
1,419,901
1,331,799
Research costs expensed
78,654
72,801
Depreciation - owned assets
384
1,312
Exclusive FIDE rights amortisation
110,529
110,529
Licence amortisation
23,000
23,000
Computer software amortisation
516,083
446,357
Auditors' remuneration for the audit of the Companies
121,915
104,223
consolidated group accounts
\u00a0 \u00a0
Auditor\u2019s remuneration for the audit of the individual accounts
-
44,667
of subsidiaries
\u00a0 \u00a0
Foreign exchange loss/(gain)
12,510
(25,794)
\n
Amounts relating to discontinued operations are presented within note 8. Comparative information has
been amended accordingly.", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00206": { "value": "7
INCOME TAX
Analysis of tax expense/(income)
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Current tax:
\u00a0 \u00a0
Continuing operations
192
217
Discontinued operations
-
-
Deferred tax:
\u00a0 \u00a0
Continuing operations
-
-
Discontinued operations (note 8)
111,374
(48,102)
Total tax expense/(credit) in consolidated statement
\u00a0 \u00a0
of profit or loss and other comprehensive income
111,566
(47,855)
\n
The tax charge relating to discontinued operations is presented within the result from discontinued
operations in the Consolidated Statement of Profit or Loss and Other Comprehensive Income (see note 8).
Accordingly, the total tax expense recognised in the Consolidated Statement of Profit or Loss and Other
Comprehensive Income reflects only the tax charge on continuing operations.
Factors affecting the tax expense
The tax assessed for the year is lower (2024: lower) than the standard rate of corporation tax in the UK.
The difference is explained below:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Loss before income tax (including discontinued
(3,548,375)
(3,843,031)
operations)
\u00a0 \u00a0
Loss multiplied by the standard rate of corporation
(887,094)
(960,758)
tax in the UK of 25% (2024 - 25%)
\u00a0 \u00a0
Effect of:
\u00a0 \u00a0
Originations and reversal of temporary differences
111,374
(48,102)
Capital allowances in excess of depreciation
(9,335)
(92,643)
Non-taxable expenses
(285,761)
43,289
Tax losses not recognised
1,182,190
1,010,112
Tax (expense)/income from discontinued operations
(111,374)
48,102
Foreign tax
192
217
Total tax expense in Consolidated Statement of Profit
192
217
or Loss and Other Comprehensive Income
\u00a0 \u00a0
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00207": { "value": "9
EARNINGS PER SHARE
Basic earnings per share is calculated by dividing the loss attributable to owners of the parent company
by the weighted average number of shares in issue during the year. In calculating the diluted earnings
per share, subscribed shares under a binding agreement where no further conditions exist are included as
are outstanding share options, warrants and convertible loans where the impact of these is dilutive. As
the Group is loss-making, the impact of potential ordinary shares is anti-dilutive and therefore basic and
diluted earnings per share are the same.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
Loss attributable to the owners of the parent
(3,659,941)
(3,795,146)
company \u20ac
\u00a0 \u00a0
Weighted average number of shares in issue
779,553,696
689,110,129
Basic and diluted earnings per share
\u00a0 \u00a0
Continuing operations
(0.003)
(0.004)
Discontinued operations
(0.002)
(0.002)
Total
(0.005)
(0.006)
\n
Discontinued operations are disclosed in note 8.
Subsequent to the year end, as further described in note 30, the Company issued 8,333,333 new ordinary
shares in January 2026 for \u20ac100,000 and, following shareholder approval, issued a further 175,915,198
new ordinary shares in March 2026 for approximately \u20ac1,287,758.", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00209": { "value": "10
INTANGIBLE ASSETS
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Group
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
\u00a0
Exclusive
Software
Online
Crypto-
Total
\u00a0
FIDE rights
Licence
Arena
assets
\u00a0
\u00a0
\u20ac
\u20ac
\u20ac
\u20ac
\u20ac
COST
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
At 1 January 2025
331,588
115,000
4,622,229
277,166
5,345,983
Additions
-
-
479,234
3,422,162
3,901,396
Disposals
-
-
-
(3,698,854)
(3,698,854)
At 31 December 2025
331,588
115,000
5,101,463
474
5,548,525
AMORTISATION
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
At 1 January 2025
110,529
79,000
1,679,304
-
1,868,833
Amortisation for year
110,529
23,000
516,083
-
649,612
At 31 December 2025
221,058
102,000
2,195,387
-
2,518,445
NET BOOK VALUE
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
At 31 December 2025
110,530
13,000
2,906,076
474
3,030,080
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Exclusive
Software
Online
Crypto-
Total
\u00a0
FIDE rights
Licence
Arena
assets
\u00a0
\u00a0
\u20ac
\u20ac
\u20ac
\u20ac
\u20ac
COST
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
At 1 January 2024
331,588
115,000
3,924,971
4,215
4,375,774
Additions
-
-
697,258
5,776,269
6,473,527
Disposals
-
-
-
(5,503,318)
(5,503,318)
At 31 December 2024
331,588
115,000
4,622,229
277,166
5,345,983
AMORTISATION
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
At 1 January 2024
-
56,000
1,232,947
-
1,288,947
Amortisation for year
110,529
23,000
446,357
-
579,886
At 31 December 2024
110,529
79,000
1,679,304
-
1,868,833
NET BOOK VALUE
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
At 31 December 2024
221,059
36,000
2,942,925
277,166
3,477,150
\n
The Directors considered the carrying value at 31 December 2025 for each asset identified above (except
crypto-assets), based on a detailed budget and forecast, discounted over five years at the Groups current
cost of capital, considered by the Directors to be 13.29%, and it was determined that no impairment was
required. Where an asset does not generate cash inflows that are largely independent of the cash inflows
from other assets or groups of assets the carrying value was considered against the smallest identifiable
group of assets that generates cash inflows (cash generating unit or CGU).
The Directors considered the carrying value at 31 December 2025 for crypto-assets based on the
prevailing exchange rate at which the crypto-asset could readily be converted into US dollars or Euros
and it was determined that no impairment was required.", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00208": { "value": "10
INTANGIBLE ASSETS
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Group
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
\u00a0
Exclusive
Software
Online
Crypto-
Total
\u00a0
FIDE rights
Licence
Arena
assets
\u00a0
\u00a0
\u20ac
\u20ac
\u20ac
\u20ac
\u20ac
COST
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
At 1 January 2025
331,588
115,000
4,622,229
277,166
5,345,983
Additions
-
-
479,234
3,422,162
3,901,396
Disposals
-
-
-
(3,698,854)
(3,698,854)
At 31 December 2025
331,588
115,000
5,101,463
474
5,548,525
AMORTISATION
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
At 1 January 2025
110,529
79,000
1,679,304
-
1,868,833
Amortisation for year
110,529
23,000
516,083
-
649,612
At 31 December 2025
221,058
102,000
2,195,387
-
2,518,445
NET BOOK VALUE
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
At 31 December 2025
110,530
13,000
2,906,076
474
3,030,080
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Exclusive
Software
Online
Crypto-
Total
\u00a0
FIDE rights
Licence
Arena
assets
\u00a0
\u00a0
\u20ac
\u20ac
\u20ac
\u20ac
\u20ac
COST
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
At 1 January 2024
331,588
115,000
3,924,971
4,215
4,375,774
Additions
-
-
697,258
5,776,269
6,473,527
Disposals
-
-
-
(5,503,318)
(5,503,318)
At 31 December 2024
331,588
115,000
4,622,229
277,166
5,345,983
AMORTISATION
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
At 1 January 2024
-
56,000
1,232,947
-
1,288,947
Amortisation for year
110,529
23,000
446,357
-
579,886
At 31 December 2024
110,529
79,000
1,679,304
-
1,868,833
NET BOOK VALUE
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
At 31 December 2024
221,059
36,000
2,942,925
277,166
3,477,150
\n
The Directors considered the carrying value at 31 December 2025 for each asset identified above (except
crypto-assets), based on a detailed budget and forecast, discounted over five years at the Groups current
cost of capital, considered by the Directors to be 13.29%, and it was determined that no impairment was
required. Where an asset does not generate cash inflows that are largely independent of the cash inflows
from other assets or groups of assets the carrying value was considered against the smallest identifiable
group of assets that generates cash inflows (cash generating unit or CGU).
The Directors considered the carrying value at 31 December 2025 for crypto-assets based on the
prevailing exchange rate at which the crypto-asset could readily be converted into US dollars or Euros
and it was determined that no impairment was required.", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00210": { "value": "The Directors considered the carrying value at 31 December 2025 for each asset identified above (except
crypto-assets), based on a detailed budget and forecast, discounted over five years at the Groups current
cost of capital, considered by the Directors to be 13.29%, and it was determined that no impairment was
required. Where an asset does not generate cash inflows that are largely independent of the cash inflows
from other assets or groups of assets the carrying value was considered against the smallest identifiable
group of assets that generates cash inflows (cash generating unit or CGU).
The Directors considered the carrying value at 31 December 2025 for crypto-assets based on the
prevailing exchange rate at which the crypto-asset could readily be converted into US dollars or Euros
and it was determined that no impairment was required.", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00211": { "value": "11
PROPERTY, PLANT AND EQUIPMENT
\n\n \u00a0 \u00a0
Group
\u00a0 \u00a0 \u00a0\n \n
Right of use
Fixtures and
Computer
Total
asset
fittings
Equipment
\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
\u20ac
\u20ac
\u20ac
\u20ac
COST
\u00a0 \u00a0 \u00a0 \u00a0
At 1 January 2025
1,495,114
1,322,946
1,698
2,819,758
Additions
-
5,235
-
5,235
Disposals
(1,495,114)
(1,249,228)
-
(2,744,342)
At 31 December 2025
-
78,953
1,698
80,651
DEPRECIATION
\u00a0 \u00a0 \u00a0 \u00a0
At 1 January 2025
439,147
387,706
1,698
828,551
Charge for year
62,855
126,765
-
189,620
Elimination on disposal
(502,002)
(444,193)
-
(946,195)
At 31 December 2025
-
70,278
1,698
71,976
NET BOOK VALUE
\u00a0 \u00a0 \u00a0 \u00a0
At 31 December 2025
-
8,675
-
8,675
\n
During the year, following the closure of the Berlin club venue, the Group derecognised assets associated
with the venue, including the right-of-use asset and fixtures and fittings. The movements presented as
disposals in the table above comprise a combination of impairments, scrappage and disposals and do not
represent disposals for consideration in all cases. These include an impairment charge of \u20ac1,764,060
recognised in relation to the discontinued Berlin club (see note 8).
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Right of use
Fixtures and
Computer
Total
\u00a0
asset
fittings
Equipment
\u00a0
\u00a0
\u20ac
\u20ac
\u20ac
\u20ac
COST
\u00a0 \u00a0 \u00a0 \u00a0
At 1 January 2024
1,495,114
1,283,631
1,698
2,780,443
Additions
-
39,315
-
39,315
At 31 December 2024
1,495,114
1,322,946
1,698
2,819,758
DEPRECIATION
\u00a0 \u00a0 \u00a0 \u00a0
At 1 January 2024
288,294
254,115
1,698
544,107
Charge for year
150,853
133,591
-
284,444
At 31 December 2024
439,147
387,706
1,698
828,551
NET BOOK VALUE
\u00a0 \u00a0 \u00a0 \u00a0
At 31 December 2024
1,055,967
935,240
-
1,991,207
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00212": { "value": "12
INVESTMENTS
Company
Shares in group undertakings
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
COST
\u00a0 \u00a0
At 1 January
351,616
351,616
At 31 December
351,616
351,616
IMPAIRMENTS
\u00a0 \u00a0
At 1 January
50,000
50,000
Charge for year
300,000
-
At 31 December
350,000
50,000
CARRYING VALUE
\u00a0 \u00a0
At 1 January
301,616
301,616
\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
At 31 December
1,616
301,616
\n
The Directors have assessed the carrying value of each group undertaking at 31 December 2025 based on
detailed budgets and forecasts covering a five-year period, discounted at the Group\u2019s current cost of
capital of 13.29%.
As a result of this assessment, the investment in World Chess Europe GmbH has been fully impaired to
\u20acnil following the closure of the Berlin club.
The Group\u2019s investments at the Statement of Financial Position date in the share capital of companies
include the following subsidiaries:
World Chess Events Limited
Registered office: Eastcastle House, 27/28 Eastcastle Street, United Kingdom, W1W 8DH
Nature of business: Organising chess events (Worldwide)
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Class of shares:
% holding
Ordinary
100.00
\n
World Chess US, Inc
Registered office: 1201 N. Orange Street, Suite 762, Wilmington, New Castle County, DE, USA 19801
Nature of business: Organising chess events (USA), online chess
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Class of shares:
% holding
Ordinary
100.00
\n
World Chess Europe GmbH
Registered office: Mittelstrasse 51 \u2013 53, 10117 Berlin, Deutschland
Nature of business: Various chess related activities
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Class of shares:
% holding
Ordinary
100.00
\n
World Chess Sakartvelo LLC
Registered office: Georgia, City Tbilisi, Didube district, Ak. Tsereteli Avenue, N 49-51-51a, Entrance 3,
Floor 13, Apartment N 128
Nature of business: Organising chess events, chess club activities
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Class of shares:
% holding
Ordinary
100.00
\n
World Chess Sakartvelo LLC remained dormant throughout the year and had no material transactions.
The results of the subsidiaries identified above are included in the consolidated financial statements. All
subsidiaries are exempt from an audit.
World Chess Events Limited are exempt from audit by virtue of s479A of the Companies Act 2006. ", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00213": { "value": "13
INVENTORIES
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Group
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Inventories:
129,512
147,549
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfInventoriesExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00214": { "value": "14
TRADE AND OTHER RECEIVABLES
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Group
Company
\u00a0
2025
2024
2025
2024
\u00a0
\u20ac
\u20ac
\u20ac
\u20ac
Current:
\u00a0 \u00a0 \u00a0 \u00a0
Trade receivables
8,337
50,447
-
-
Amounts owed by group
-
-
-
4,713,473
undertakings
\u00a0 \u00a0 \u00a0 \u00a0
Other receivables
18,541
36,902
1,306
1,306
Prepayments and accrued
98,264
146,818
5,738
18,036
income
\u00a0 \u00a0 \u00a0 \u00a0
Amounts owed by Directors
12,421
-
-
-
\u00a0
137,563
234,167
7,044
4,732,815
Non-current:
\u00a0 \u00a0 \u00a0 \u00a0
Amounts owed by group
-
-
7,425,069
-
undertakings
\u00a0 \u00a0 \u00a0 \u00a0
Other receivables
-
162,884
-
-
\u00a0
137,563
397,051
7,432,113
4,732,815
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00215": { "value": "\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Group
Company
\u00a0
2025
2024
2025
2024
\u00a0
\u20ac
\u20ac
\u20ac
\u20ac
Current:
\u00a0 \u00a0 \u00a0 \u00a0
Trade receivables
8,337
50,447
-
-
Amounts owed by group
-
-
-
4,713,473
undertakings
\u00a0 \u00a0 \u00a0 \u00a0
Other receivables
18,541
36,902
1,306
1,306
Prepayments and accrued
98,264
146,818
5,738
18,036
income
\u00a0 \u00a0 \u00a0 \u00a0
Amounts owed by Directors
12,421
-
-
-
\u00a0
137,563
234,167
7,044
4,732,815
Non-current:
\u00a0 \u00a0 \u00a0 \u00a0
Amounts owed by group
-
-
7,425,069
-
undertakings
\u00a0 \u00a0 \u00a0 \u00a0
Other receivables
-
162,884
-
-
\u00a0
137,563
397,051
7,432,113
4,732,815
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00217": { "value": "16
CALLED UP SHARE CAPITAL
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
Number of
\u20ac
Number of
\u20ac
\u00a0
shares
\u00a0
shares
\u00a0
Allotted, issued, and fully
879,605,147
100,495
691,724,039
78,520
paid Ordinary shares of
\u00a0 \u00a0 \u00a0 \u00a0
\u00a30.0001
\u00a0 \u00a0 \u00a0 \u00a0
\n
On 14 January 2025, the Company issued 717,948 new ordinary shares to a senior consultant in lieu of
fees of \u20ac33,177.
On 24 February 2025, the Company issued 10,666,672 new ordinary shares for total cash consideration of
\u20ac400,000 and 12,000,000 new ordinary shares for total consideration of \u20ac1,200,000, which had been
received prior to 31 December 2024 and were included within share capital to be issued at that date.
On 3 June 2025, the Company issued 25,757,575 new ordinary shares to Ilya Merenzon, comprising the
conversion of \u20ac653,576 of convertible loan notes and a subscription for \u20ac356,496. The loan note conversion
was a non-cash transaction, with the balance received in cash during the year. Further details are set out
in note 27.
On 24 June 2025, the Company issued 24,390,243 new ordinary shares to Ilya Merenzon pursuant to a
subscription for cash consideration of \u20ac937,920. Further details of this transaction are set out in note 27.
On 26 August 2025, the Company issued 114,348,670 new ordinary shares to a new strategic investor for
total cash consideration of \u20ac1,714,666, with transaction costs of \u20ac102,512 directly attributable to the share
issue recognised as a deduction from equity (share premium).
At 31 December 2025, the number of additional shares authorised for issue is 121,547,012, which includes
25,952,901 shares which the Company has committed to issue in accordance with binding subscription
agreements (2024: 205,326,214 which included 34,333,859 under binding subscription agreements). ", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00216": { "value": "16
CALLED UP SHARE CAPITAL
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
Number of
\u20ac
Number of
\u20ac
\u00a0
shares
\u00a0
shares
\u00a0
Allotted, issued, and fully
879,605,147
100,495
691,724,039
78,520
paid Ordinary shares of
\u00a0 \u00a0 \u00a0 \u00a0
\u00a30.0001
\u00a0 \u00a0 \u00a0 \u00a0
\n
On 14 January 2025, the Company issued 717,948 new ordinary shares to a senior consultant in lieu of
fees of \u20ac33,177.
On 24 February 2025, the Company issued 10,666,672 new ordinary shares for total cash consideration of
\u20ac400,000 and 12,000,000 new ordinary shares for total consideration of \u20ac1,200,000, which had been
received prior to 31 December 2024 and were included within share capital to be issued at that date.
On 3 June 2025, the Company issued 25,757,575 new ordinary shares to Ilya Merenzon, comprising the
conversion of \u20ac653,576 of convertible loan notes and a subscription for \u20ac356,496. The loan note conversion
was a non-cash transaction, with the balance received in cash during the year. Further details are set out
in note 27.
On 24 June 2025, the Company issued 24,390,243 new ordinary shares to Ilya Merenzon pursuant to a
subscription for cash consideration of \u20ac937,920. Further details of this transaction are set out in note 27.
On 26 August 2025, the Company issued 114,348,670 new ordinary shares to a new strategic investor for
total cash consideration of \u20ac1,714,666, with transaction costs of \u20ac102,512 directly attributable to the share
issue recognised as a deduction from equity (share premium).
At 31 December 2025, the number of additional shares authorised for issue is 121,547,012, which includes
25,952,901 shares which the Company has committed to issue in accordance with binding subscription
agreements (2024: 205,326,214 which included 34,333,859 under binding subscription agreements).
17
SHARE PREMIUM
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
At 1 January
12,754,046
11,048,183
Premium arising on issue of equity shares
5,273,862
1,705,863
Transaction costs on issue of shares
(102,512)
-
At 31 December
17,925,396
12,754,046
\n
18
RESERVES
Share capital comprises the amount for the nominal value of shares issued.
Share premium comprises the amount subscribed for share capital which exceeds the nominal value,
after deducting costs of issue.
Share capital to be issued comprises amounts received under binding share subscription agreements
where shares have not yet been issued.
The translation reserve comprises all foreign currency differences arising from the translation of the
financial statements of foreign operations.
Retained earnings comprises the brought forward cumulative profit and loss balances carried forward
from previous accounting periods.", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00218": { "value": "18
RESERVES
Share capital comprises the amount for the nominal value of shares issued.
Share premium comprises the amount subscribed for share capital which exceeds the nominal value,
after deducting costs of issue.
Share capital to be issued comprises amounts received under binding share subscription agreements
where shares have not yet been issued.
The translation reserve comprises all foreign currency differences arising from the translation of the
financial statements of foreign operations.
Retained earnings comprises the brought forward cumulative profit and loss balances carried forward
from previous accounting periods.", "dimensions": { "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00219": { "value": "19
TRADE AND OTHER PAYABLES
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Group
Company
\u00a0
2025
2024
2025
2024
\u00a0
\u20ac
\u20ac
\u20ac
\u20ac
Trade payables
1,052,110
1,211,014
48,796
119,402
Amounts owed to group undertakings
-
-
-
156,552
Social security and other taxes
69,031
78,875
44,801
60,277
Other payables
117,492
17,302
70
75
Accruals and deferred income
607,258
1,033,931
124,019
99,854
Amounts owed to Directors
49,947
300,865
144,691
194,322
\u00a0
1,895,838
2,641,987
362,377
630,482
\n
Included in accruals and deferred income at the start of the period was \u20ac579,869 (2024: \u20ac530,887) of
deferred income which was recognised as revenue during the year.", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00221": { "value": "\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Group
Company
\u00a0
2025
2024
2025
2024
\u00a0
\u20ac
\u20ac
\u20ac
\u20ac
Trade payables
1,052,110
1,211,014
48,796
119,402
Amounts owed to group undertakings
-
-
-
156,552
Social security and other taxes
69,031
78,875
44,801
60,277
Other payables
117,492
17,302
70
75
Accruals and deferred income
607,258
1,033,931
124,019
99,854
Amounts owed to Directors
49,947
300,865
144,691
194,322
\u00a0
1,895,838
2,641,987
362,377
630,482
\n
Included in accruals and deferred income at the start of the period was \u20ac579,869 (2024: \u20ac530,887) of
deferred income which was recognised as revenue during the year.", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredIncomeExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00220": { "value": "\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Group
Company
\u00a0
2025
2024
2025
2024
\u00a0
\u20ac
\u20ac
\u20ac
\u20ac
Trade payables
1,052,110
1,211,014
48,796
119,402
Amounts owed to group undertakings
-
-
-
156,552
Social security and other taxes
69,031
78,875
44,801
60,277
Other payables
117,492
17,302
70
75
Accruals and deferred income
607,258
1,033,931
124,019
99,854
Amounts owed to Directors
49,947
300,865
144,691
194,322
\u00a0
1,895,838
2,641,987
362,377
630,482
\n
Included in accruals and deferred income at the start of the period was \u20ac579,869 (2024: \u20ac530,887) of
deferred income which was recognised as revenue during the year.", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00223": { "value": "20
FINANCIAL LIABILITIES - BORROWINGS
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Group
Company
\u00a0
2025
2024
2025
2024
\u00a0
\u20ac
\u20ac
\u20ac
\u20ac
Current interest-bearing loans and
-
1,401,543
-
-
borrowings
\u00a0 \u00a0 \u00a0 \u00a0
At 31 December 2025, the Group had no outstanding interest-bearing loans or borrowings (2024:
\u20ac1,401,543), the prior year balance having been fully repaid during the year from the proceeds of equity
fundraisings. The Group continues to have access to a loan facility of up to \u20ac6,000,000 with UAB Intis
Telecom, which remains available for drawdown. Under the terms of the facility, the interest rate is 12%
per annum, with final repayment due on 31 December 2026. ", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00222": { "value": "20
FINANCIAL LIABILITIES - BORROWINGS
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Group
Company
\u00a0
2025
2024
2025
2024
\u00a0
\u20ac
\u20ac
\u20ac
\u20ac
Current interest-bearing loans and
-
1,401,543
-
-
borrowings
\u00a0 \u00a0 \u00a0 \u00a0
At 31 December 2025, the Group had no outstanding interest-bearing loans or borrowings (2024:
\u20ac1,401,543), the prior year balance having been fully repaid during the year from the proceeds of equity
fundraisings. The Group continues to have access to a loan facility of up to \u20ac6,000,000 with UAB Intis
Telecom, which remains available for drawdown. Under the terms of the facility, the interest rate is 12%
per annum, with final repayment due on 31 December 2026.
21
FINANCIAL LIABILITIES - LEASES
Lease liabilities
The lease liability and corresponding right-of-use asset recognised in respect of the Berlin club are as
follows:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Group
2025
2024
\u00a0
\u20ac
\u20ac
Right-of-use assets
-
1,055,967
Current lease liability
-
129,955
Non-current lease liability
-
1,174,319
\u00a0
-
1,304,274
\n
A right-of-use asset was recognised in 2022 in respect of a lease of premises occupied by the Berlin club
venue, which had an original term of 10 years ending on 31 December 2031. An addition to the right-of-
use asset of \u20ac120,705 was recognised during 2023 following an increase in lease payments after a review.
During the year, following the closure of the Berlin club, the lease was terminated and the associated
right-of-use asset and lease liability were derecognised. The resulting gain on derecognition of the lease
liability has been recognised within discontinued operations (see note 8).
Following termination of the lease, the Group has no remaining lease liabilities at 31 December 2025. All
lease-related amounts for the year relate to discontinued operations.\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Other financial liabilities
\u00a0 \u00a0
Lease liabilities more than one year
-
1,174,319
Trade payables less than one year
1,052,110
1,211,014
Other payables less than one year
236,470
397,042
Lease liabilities less than one year
-
129,955
Interest bearing loans and borrowings less than one year
-
1,401,543
Total financial liabilities
1,288,580
4,313,873
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialLiabilitiesHeldForTradingExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00225": { "value": "21
FINANCIAL LIABILITIES - LEASES
Lease liabilities
The lease liability and corresponding right-of-use asset recognised in respect of the Berlin club are as
follows:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Group
2025
2024
\u00a0
\u20ac
\u20ac
Right-of-use assets
-
1,055,967
Current lease liability
-
129,955
Non-current lease liability
-
1,174,319
\u00a0
-
1,304,274
\n
A right-of-use asset was recognised in 2022 in respect of a lease of premises occupied by the Berlin club
venue, which had an original term of 10 years ending on 31 December 2031. An addition to the right-of-
use asset of \u20ac120,705 was recognised during 2023 following an increase in lease payments after a review.
During the year, following the closure of the Berlin club, the lease was terminated and the associated
right-of-use asset and lease liability were derecognised. The resulting gain on derecognition of the lease
liability has been recognised within discontinued operations (see note 8).
Following termination of the lease, the Group has no remaining lease liabilities at 31 December 2025. All
lease-related amounts for the year relate to discontinued operations.", "dimensions": { "concept": "ifrs-full:DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00224": { "value": "21
FINANCIAL LIABILITIES - LEASES
Lease liabilities
The lease liability and corresponding right-of-use asset recognised in respect of the Berlin club are as
follows:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Group
2025
2024
\u00a0
\u20ac
\u20ac
Right-of-use assets
-
1,055,967
Current lease liability
-
129,955
Non-current lease liability
-
1,174,319
\u00a0
-
1,304,274
\n
A right-of-use asset was recognised in 2022 in respect of a lease of premises occupied by the Berlin club
venue, which had an original term of 10 years ending on 31 December 2031. An addition to the right-of-
use asset of \u20ac120,705 was recognised during 2023 following an increase in lease payments after a review.
During the year, following the closure of the Berlin club, the lease was terminated and the associated
right-of-use asset and lease liability were derecognised. The resulting gain on derecognition of the lease
liability has been recognised within discontinued operations (see note 8).
Following termination of the lease, the Group has no remaining lease liabilities at 31 December 2025. All
lease-related amounts for the year relate to discontinued operations.", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00229": { "value": "22
FINANCIAL INSTRUMENTS
Financial instruments used by the Group, from which financial instrument risk arises, are as follows:
\u2022
trade and other payables;
\u2022
cash and cash equivalents; and
\u2022
trade and other receivables.
The main purpose of these financial instruments is to finance the Group\u2019s operations and manage
working capital requirements.
Financial instruments are measured at amortised cost. Crypto-assets are not financial instruments and are
measured at fair value through profit or loss. The Group holds crypto-assets as part of its treasury
activities and monitors their fair value at each reporting date. The fair value of crypto-assets is
categorised as Level 1 within the fair value hierarchy, based on quoted prices in active markets.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Other financial assets
\u00a0 \u00a0
Trade and other receivables more than one year
-
162,884
Trade and other receivables less than one year
137,563
234,167
Cash and cash equivalents
40,732
267,396
Total financial assets
178,295
664,447
\n
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Other financial liabilities
\u00a0 \u00a0
Lease liabilities more than one year
-
1,174,319
Trade payables less than one year
1,052,110
1,211,014
Other payables less than one year
236,470
397,042
Lease liabilities less than one year
-
129,955
Interest bearing loans and borrowings less than one year
-
1,401,543
Total financial liabilities
1,288,580
4,313,873
\n
The Directors consider that the carrying value for each class of financial asset and liability, approximates
to their fair value. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsHeldForTradingExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00228": { "value": "22
FINANCIAL INSTRUMENTS
Financial instruments used by the Group, from which financial instrument risk arises, are as follows:
\u2022
trade and other payables;
\u2022
cash and cash equivalents; and
\u2022
trade and other receivables.
The main purpose of these financial instruments is to finance the Group\u2019s operations and manage
working capital requirements.
Financial instruments are measured at amortised cost. Crypto-assets are not financial instruments and are
measured at fair value through profit or loss. The Group holds crypto-assets as part of its treasury
activities and monitors their fair value at each reporting date. The fair value of crypto-assets is
categorised as Level 1 within the fair value hierarchy, based on quoted prices in active markets.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Other financial assets
\u00a0 \u00a0
Trade and other receivables more than one year
-
162,884
Trade and other receivables less than one year
137,563
234,167
Cash and cash equivalents
40,732
267,396
Total financial assets
178,295
664,447
\n
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Other financial liabilities
\u00a0 \u00a0
Lease liabilities more than one year
-
1,174,319
Trade payables less than one year
1,052,110
1,211,014
Other payables less than one year
236,470
397,042
Lease liabilities less than one year
-
129,955
Interest bearing loans and borrowings less than one year
-
1,401,543
Total financial liabilities
1,288,580
4,313,873
\n
The Directors consider that the carrying value for each class of financial asset and liability, approximates
to their fair value. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00226": { "value": "22
FINANCIAL INSTRUMENTS
Financial instruments used by the Group, from which financial instrument risk arises, are as follows:
\u2022
trade and other payables;
\u2022
cash and cash equivalents; and
\u2022
trade and other receivables.
The main purpose of these financial instruments is to finance the Group\u2019s operations and manage
working capital requirements.
Financial instruments are measured at amortised cost. Crypto-assets are not financial instruments and are
measured at fair value through profit or loss. The Group holds crypto-assets as part of its treasury
activities and monitors their fair value at each reporting date. The fair value of crypto-assets is
categorised as Level 1 within the fair value hierarchy, based on quoted prices in active markets.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Other financial assets
\u00a0 \u00a0
Trade and other receivables more than one year
-
162,884
Trade and other receivables less than one year
137,563
234,167
Cash and cash equivalents
40,732
267,396
Total financial assets
178,295
664,447
\n
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Other financial liabilities
\u00a0 \u00a0
Lease liabilities more than one year
-
1,174,319
Trade payables less than one year
1,052,110
1,211,014
Other payables less than one year
236,470
397,042
Lease liabilities less than one year
-
129,955
Interest bearing loans and borrowings less than one year
-
1,401,543
Total financial liabilities
1,288,580
4,313,873
\n
The Directors consider that the carrying value for each class of financial asset and liability, approximates
to their fair value.
Financial risk management
The Group's activities expose it to a variety of risks, including market risk (foreign currency risk and
interest rate risk), credit risk and liquidity risk.
The Group manages these risks through an effective risk
management programme, and, through this programme, the Board seeks to minimise the potential
adverse effects on the Group's financial performance.
Credit risk
Credit risk is the risk of financial loss to the Group if a customer to a financial instrument fails to meet its
contractual obligations.
The Group's credit risk is primarily attributable to its receivables and its cash
deposits.
It is Group policy to assess the credit risk of new customers before entering into contracts. The
Group continues to assess the risk and a further loss allowance for the full lifetime expected credit losses
is recognised if the credit risk has increased significantly since initial recognition. The Group considers
any contractual payment being 30 days past due, and each subsequent period of 30 days, to be an
indicator of a significant increase in credit risk which may require an additional loss allowance to be
recorded.
The Group considers a financial asset to be in default when contractual payments are more than 90 days
past due or where there is other objective evidence that the counterparty is unlikely to pay. This
definition is consistent with the Group\u2019s historical experience and reflects the point at which credit losses
are typically incurred.
The risks specific to the Group\u2019s revenue types within its activities are outlined below:
\u2022
Events, payment is typically received in accordance with multi-year agreement in advance of the
event to which it relates, the Directors therefore consider the credit risk to be low.
\u2022
Online income, payment is typically received annually in advance, the Directors therefore consider
the credit risk to be trivial.
\u2022
Merchandising and Clubs, payment is typically received prior to control of goods purchased being
transferred to the customer, the Directors therefore consider the risk to be non-trivial but minimal.
Credit losses of \u20ac6,514 were recognised during the year (2024: \u20ac14,010). This amount relates to a specific
provision against a trade receivable and is not representative of the Group\u2019s overall expected credit loss
assessment under IFRS 9.
Financial assets past due but not impaired as at 31 December 2025:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Not
\u00a0 \u00a0 \u00a0 \u00a0
\u00a0
impaired
Not impaired but past due by the following
\u00a0
and not
amounts
\u00a0
past due
\u00a0 \u00a0 \u00a0 \u00a0
\u00a0 \u00a0
>30 days
>60 days
>90 days
>120 days
\u00a0
\u20ac
\u20ac
\u20ac
\u20ac
\u20ac
Group: Trade and other receivables less
39,299
-
-
-
-
than one year
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Company: Trade and other receivables
7,426,374
-
-
-
-
more than one year
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
\n
Financial assets past due but not impaired as at 31 December 2024:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Not
\u00a0 \u00a0 \u00a0 \u00a0
\u00a0
impaired
Not impaired but past due by the following
\u00a0
and not
amounts
\u00a0
past due
\u00a0 \u00a0 \u00a0 \u00a0
\u00a0 \u00a0
>30 days
>60 days
>90 days
>120 days
\u00a0
\u20ac
\u20ac
\u20ac
\u20ac
\u20ac
Group: Trade and other receivables more
162,884
-
-
-
-
than one year
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Group: Trade and other receivables less
75,909
11,440
-
-
-
than one year
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Company: Trade and other receivables
4,714,779
-
-
-
-
less than one year
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
\n
Liquidity risk and interest rate risk
Liquidity risk arises from the Group's management of working capital.
It is the risk that the Group will
encounter difficulty in meeting its financial obligations as they fall due.
The Group\u2019s funding strategy is to ensure a mix of funding sources offering flexibility and cost
effectiveness to match the requirements of the Group.
At 31 December 2025, the Group had no outstanding loans due within one year (2024: \u20ac1,401,543).
Foreign currency risk
The Group's exposure to foreign currency risk is limited as most of its invoicing and payments are
denominated in Euro.
The Group identifies and manages currency risks using an integrated approach
that takes into account the possibility of natural (economic) hedging.
For the purpose of short-term
management of currency risk, the Group selects the currency to reduce the open currency position (the
difference between assets and liabilities in foreign currencies).
Analysis of sensitivity of financial instruments to foreign currency exchange rate risk
Currency risk is assessed monthly using sensitivity analysis and maintained within parameters approved
in accordance with the Group's policy.
At the reporting date, the effect of the Euro's
growth/(depreciation) against other currencies in the Group's profit/(loss) before tax is not significant.
The Group does not have any financial assets or financial liabilities that are subject to enforceable netting
arrangements or similar agreements. Accordingly, no offsetting disclosures are presented.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00227": { "value": "\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Other financial assets
\u00a0 \u00a0
Trade and other receivables more than one year
-
162,884
Trade and other receivables less than one year
137,563
234,167
Cash and cash equivalents
40,732
267,396
Total financial assets
178,295
664,447
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialAssetsHeldForTradingExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00230": { "value": "Financial risk management
The Group's activities expose it to a variety of risks, including market risk (foreign currency risk and
interest rate risk), credit risk and liquidity risk.
The Group manages these risks through an effective risk
management programme, and, through this programme, the Board seeks to minimise the potential
adverse effects on the Group's financial performance.
Credit risk
Credit risk is the risk of financial loss to the Group if a customer to a financial instrument fails to meet its
contractual obligations.
The Group's credit risk is primarily attributable to its receivables and its cash
deposits.
It is Group policy to assess the credit risk of new customers before entering into contracts. The
Group continues to assess the risk and a further loss allowance for the full lifetime expected credit losses
is recognised if the credit risk has increased significantly since initial recognition. The Group considers
any contractual payment being 30 days past due, and each subsequent period of 30 days, to be an
indicator of a significant increase in credit risk which may require an additional loss allowance to be
recorded.
The Group considers a financial asset to be in default when contractual payments are more than 90 days
past due or where there is other objective evidence that the counterparty is unlikely to pay. This
definition is consistent with the Group\u2019s historical experience and reflects the point at which credit losses
are typically incurred.
The risks specific to the Group\u2019s revenue types within its activities are outlined below:
\u2022
Events, payment is typically received in accordance with multi-year agreement in advance of the
event to which it relates, the Directors therefore consider the credit risk to be low.
\u2022
Online income, payment is typically received annually in advance, the Directors therefore consider
the credit risk to be trivial.
\u2022
Merchandising and Clubs, payment is typically received prior to control of goods purchased being
transferred to the customer, the Directors therefore consider the risk to be non-trivial but minimal.
Credit losses of \u20ac6,514 were recognised during the year (2024: \u20ac14,010). This amount relates to a specific
provision against a trade receivable and is not representative of the Group\u2019s overall expected credit loss
assessment under IFRS 9.
Financial assets past due but not impaired as at 31 December 2025:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Not
\u00a0 \u00a0 \u00a0 \u00a0
\u00a0
impaired
Not impaired but past due by the following
\u00a0
and not
amounts
\u00a0
past due
\u00a0 \u00a0 \u00a0 \u00a0
\u00a0 \u00a0
>30 days
>60 days
>90 days
>120 days
\u00a0
\u20ac
\u20ac
\u20ac
\u20ac
\u20ac
Group: Trade and other receivables less
39,299
-
-
-
-
than one year
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Company: Trade and other receivables
7,426,374
-
-
-
-
more than one year
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
\n
Financial assets past due but not impaired as at 31 December 2024:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Not
\u00a0 \u00a0 \u00a0 \u00a0
\u00a0
impaired
Not impaired but past due by the following
\u00a0
and not
amounts
\u00a0
past due
\u00a0 \u00a0 \u00a0 \u00a0
\u00a0 \u00a0
>30 days
>60 days
>90 days
>120 days
\u00a0
\u20ac
\u20ac
\u20ac
\u20ac
\u20ac
Group: Trade and other receivables more
162,884
-
-
-
-
than one year
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Group: Trade and other receivables less
75,909
11,440
-
-
-
than one year
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Company: Trade and other receivables
4,714,779
-
-
-
-
less than one year
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
\n
Liquidity risk and interest rate risk
Liquidity risk arises from the Group's management of working capital.
It is the risk that the Group will
encounter difficulty in meeting its financial obligations as they fall due.
The Group\u2019s funding strategy is to ensure a mix of funding sources offering flexibility and cost
effectiveness to match the requirements of the Group.
At 31 December 2025, the Group had no outstanding loans due within one year (2024: \u20ac1,401,543).
Foreign currency risk
The Group's exposure to foreign currency risk is limited as most of its invoicing and payments are
denominated in Euro.
The Group identifies and manages currency risks using an integrated approach
that takes into account the possibility of natural (economic) hedging.
For the purpose of short-term
management of currency risk, the Group selects the currency to reduce the open currency position (the
difference between assets and liabilities in foreign currencies).
Analysis of sensitivity of financial instruments to foreign currency exchange rate risk
Currency risk is assessed monthly using sensitivity analysis and maintained within parameters approved
in accordance with the Group's policy.
At the reporting date, the effect of the Euro's
growth/(depreciation) against other currencies in the Group's profit/(loss) before tax is not significant.
The Group does not have any financial assets or financial liabilities that are subject to enforceable netting
arrangements or similar agreements. Accordingly, no offsetting disclosures are presented.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00231": { "value": "Credit risk
Credit risk is the risk of financial loss to the Group if a customer to a financial instrument fails to meet its
contractual obligations.
The Group's credit risk is primarily attributable to its receivables and its cash
deposits.
It is Group policy to assess the credit risk of new customers before entering into contracts. The
Group continues to assess the risk and a further loss allowance for the full lifetime expected credit losses
is recognised if the credit risk has increased significantly since initial recognition. The Group considers
any contractual payment being 30 days past due, and each subsequent period of 30 days, to be an
indicator of a significant increase in credit risk which may require an additional loss allowance to be
recorded.
The Group considers a financial asset to be in default when contractual payments are more than 90 days
past due or where there is other objective evidence that the counterparty is unlikely to pay. This
definition is consistent with the Group\u2019s historical experience and reflects the point at which credit losses
are typically incurred.
The risks specific to the Group\u2019s revenue types within its activities are outlined below:
\u2022
Events, payment is typically received in accordance with multi-year agreement in advance of the
event to which it relates, the Directors therefore consider the credit risk to be low.
\u2022
Online income, payment is typically received annually in advance, the Directors therefore consider
the credit risk to be trivial.
\u2022
Merchandising and Clubs, payment is typically received prior to control of goods purchased being
transferred to the customer, the Directors therefore consider the risk to be non-trivial but minimal.
Credit losses of \u20ac6,514 were recognised during the year (2024: \u20ac14,010). This amount relates to a specific
provision against a trade receivable and is not representative of the Group\u2019s overall expected credit loss
assessment under IFRS 9.
Financial assets past due but not impaired as at 31 December 2025:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Not
\u00a0 \u00a0 \u00a0 \u00a0
\u00a0
impaired
Not impaired but past due by the following
\u00a0
and not
amounts
\u00a0
past due
\u00a0 \u00a0 \u00a0 \u00a0
\u00a0 \u00a0
>30 days
>60 days
>90 days
>120 days
\u00a0
\u20ac
\u20ac
\u20ac
\u20ac
\u20ac
Group: Trade and other receivables less
39,299
-
-
-
-
than one year
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Company: Trade and other receivables
7,426,374
-
-
-
-
more than one year
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
\n
Financial assets past due but not impaired as at 31 December 2024:
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Not
\u00a0 \u00a0 \u00a0 \u00a0
\u00a0
impaired
Not impaired but past due by the following
\u00a0
and not
amounts
\u00a0
past due
\u00a0 \u00a0 \u00a0 \u00a0
\u00a0 \u00a0
>30 days
>60 days
>90 days
>120 days
\u00a0
\u20ac
\u20ac
\u20ac
\u20ac
\u20ac
Group: Trade and other receivables more
162,884
-
-
-
-
than one year
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Group: Trade and other receivables less
75,909
11,440
-
-
-
than one year
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
Company: Trade and other receivables
4,714,779
-
-
-
-
less than one year
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00232": { "value": "Liquidity risk and interest rate risk
Liquidity risk arises from the Group's management of working capital.
It is the risk that the Group will
encounter difficulty in meeting its financial obligations as they fall due.
The Group\u2019s funding strategy is to ensure a mix of funding sources offering flexibility and cost
effectiveness to match the requirements of the Group.
At 31 December 2025, the Group had no outstanding loans due within one year (2024: \u20ac1,401,543).", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00233": { "value": "Foreign currency risk
The Group's exposure to foreign currency risk is limited as most of its invoicing and payments are
denominated in Euro.
The Group identifies and manages currency risks using an integrated approach
that takes into account the possibility of natural (economic) hedging.
For the purpose of short-term
management of currency risk, the Group selects the currency to reduce the open currency position (the
difference between assets and liabilities in foreign currencies).
Analysis of sensitivity of financial instruments to foreign currency exchange rate risk
Currency risk is assessed monthly using sensitivity analysis and maintained within parameters approved
in accordance with the Group's policy.
At the reporting date, the effect of the Euro's
growth/(depreciation) against other currencies in the Group's profit/(loss) before tax is not significant.
The Group does not have any financial assets or financial liabilities that are subject to enforceable netting
arrangements or similar agreements. Accordingly, no offsetting disclosures are presented.", "dimensions": { "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00234": { "value": "23
CAPITAL MANAGEMENT
The Group\u2019s objective when managing capital is to safeguard the Group\u2019s ability to continue as a going
concern, so that it can continue to provide returns to shareholders and benefits for other stakeholders.
The Group's capital management strategy is to retain sufficient working capital for operating
requirements and to ensure sufficient funding is available to meet commitments as they fall due and to
support growth. There are no externally imposed capital requirements.
The Group had net assets of \u20ac1,458,391 at 31 December 2025, (2024: \u20ac950,770).
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Interest bearing loans and borrowings
-
(1,401,543)
Amounts owed to directors
(49,947)
(300,865)
Lease liabilities
-
(1,304,274)
Cash and cash equivalents
40,732
267,396
Net indebtedness
(9,215)
(2,739,286)
\n
Amounts owed to Directors includes balances due to Directors disclosed in note 27 to the financial
statements. Although classified under \u2018trade and other payables\u2019 in the Statement of Financial Position,
these amounts represent short-term financing from Directors and are included in net indebtedness.", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00235": { "value": "24
PROVISION FOR LIABILITIES
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Group
2025
2024
\u00a0
\u20ac
\u20ac
PROVISIONS
\u00a0 \u00a0
At 1 January
157,887
157,887
Reversal of dilapidations provision
(155,887)
-
At 31 December
2,000
157,887
\n
A dilapidations provision was recognised in 2022 in respect of the Berlin club lease.
Following the closure of the venue and termination of the lease during the year, the obligation ceased to
exist and the provision was fully released, with the resulting credit recognised within discontinued
operations (see note 8) ", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00236": { "value": "25
DEFERRED TAX
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
Group
2025
2024
\u00a0
\u20ac
\u20ac
Balance at 1 January
111,374
63,272
Movement in current year
(111,374)
48,102
Balance at 31 December
-
111,374
\n
There are \u20ac15,495,849 (2024: \u20ac9,917,456) of tax losses available to the Group which, at the applicable tax
rate of 25%, would provide an additional deferred tax asset of \u20ac3,873,962 (2024: \u20ac2,479,364).
This has not
been recognised in the financial statements due to the uncertainty of the timing of future taxable profits
against which these losses could be utilised.
Deferred tax assets and liabilities are offset when the Company has a legally enforceable right to offset
current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the
same tax authority.
Analysis of deferred tax:
\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
2025
2024
\u00a0
\u20ac
\u20ac
Timing differences arising on provisions for liabilities,
-
(430,942)
lease liabilities and losses carried forward
\u00a0 \u00a0
Timing difference arising on capital allowances in excess
-
319,568
of depreciation
\u00a0 \u00a0
\u00a0
-
(111,374)
\n", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00238": { "value": "26
CONTINGENT LIABILITIES
The Group has an ongoing claim with one supplier, if the claim is successful then an invoice, amounting
to \u20ac1,140,000, will become payable. The invoice has not been provided for in the financial statements as
the Directors consider it to be null and void and raised by the supplier in breach of contract.", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00237": { "value": "26
CONTINGENT LIABILITIES
The Group has an ongoing claim with one supplier, if the claim is successful then an invoice, amounting
to \u20ac1,140,000, will become payable. The invoice has not been provided for in the financial statements as
the Directors consider it to be null and void and raised by the supplier in breach of contract. ", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00239": { "value": "27
RELATED PARTY DISCLOSURES
Details of the Directors\u2019 remuneration are disclosed in note 4 and in the Directors Remuneration Report
on page 34 of these consolidated financial statements.
Group undertakings
Intercompany balances and transactions between the Company and its subsidiaries are eliminated on
consolidation. These balances arise from normal trading activities, loans, and cost recharges.
Intercompany loans are measured at amortised cost, with expected credit loss provisions recognised
where applicable under IFRS 9.
The following transactions took place during the year ended 31 December 2025 with and between group
undertakings.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Interest
Purchase/
Purchase/
Transaction
\u00a0
paid/
(sales) of
(sale) of
fees paid/
\u00a0
(received)
inventory
services
(received)
\u00a0
\u20ac
\u20ac
\u20ac
\u20ac
World Chess PLC
(119,113)
-
-
-
World Chess Events Ltd
-
(29,712)
(4,000)
43,995
World Chess Europe GmbH
119,113
1,693
-
-
World Chess US Inc.
-
28,019
4,000
(43,995)
World Chess Sakartvelo LLC
-
-
-
-
\n
The following transactions took place during the year ended 31 December 2025 with the Company.
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Interest
Purchase/
Purchase/
Transaction
\u00a0
paid/
(sales) of
(sale) of
fees paid/
\u00a0
(received)
inventory
services
(received)
\u00a0
\u20ac
\u20ac
\u20ac
\u20ac
World Chess Europe GmbH
119,113
-
-
-
The following transactions took place during the year ended 31 December 2024 with and between group
\n
undertakings.
\n\n \n
Interest
Purchase/
Purchase/
Transaction
paid/
(sales) of
(sale) of
fees paid/
(received)
inventory
services
(received)
\u20ac
\u20ac
\u20ac
\u20ac
World Chess PLC
(112,675)
-
-
-
World Chess Events Ltd
12,762
(8,887)
82,500
54,561
World Chess Europe GmbH
99,913
7,254
-
-
World Chess US Inc.
-
1,633
7,500
(54,561)
World Chess Sakartvelo LLC
-
-
(90,000)
-
\n
The following transactions took place during the year ended 31 December 2024 with the Company.
\n\n \n
Interest
Purchase/
Purchase/
Transaction
paid/
(sales) of
(sale) of
fees paid/
(received)
inventory
services
(received)
\u20ac
\u20ac
\u20ac
\u20ac
World Chess Events Ltd
12,762
-
-
-
World Chess Europe GmbH
99,913
-
-
-
\n
The following movement on Director (payables) and receivables with the Group took place during the
\n
year ended 31 December 2025.
\n\n \n
(Payable)/
Increase in
Increase in
(Payable)/
receivable at
payables
receivables
receivable at
1 January
and received
and paid to
31 December
2025
from director
director
2025
\u20ac
\u20ac
\u20ac
\u20ac
Ilya Merenzon
(263,761)
962,984
(686,802)
12,421
Matvey Shekhovtsov
(16,800)
4,800
(2,400)
(14,400)
Graham Woolfman
(6,236)
(6,236)
-
-
Jamison Firestone
(4,698)
-
(2,181)
(6,879)
Richard Collett
(14,673)
-
(5,837)
(20,510)
Neil Rafferty
(4,698)
-
(3,460)
(8,158)
\n
During the year, the Company entered into three additional transactions with Ilya Merenzon, comprising
\n
the issue and conversion of \u20ac653,576 of convertible loan notes and subscriptions for new ordinary shares
\n
totalling \u20ac1,294,416. On 3 June 2025, 25,757,575 new ordinary shares were issued, comprising the
\n
conversion of the loan notes and a subscription of \u20ac356,496. A further 9,090,909 new ordinary shares were
\n
issued on 24 June 2025 for cash consideration of \u20ac937,920. These transactions were undertaken at market
\n
price, on terms agreed between the parties, and were approved by the Board.
The following movement on Director (payables) and receivables with the Group took place during the
\n
year ended 31 December 2024.
\n\n \n
(Payable)/
Increase in
Increase in
(Payable)/
receivable at
payables
receivables
receivable at
1 January
and received
and paid to
31 December
2024
from director
director
2024
\u20ac
\u20ac
\u20ac
\u20ac
Ilya Merenzon
(133,186)
(1,034,143)
903,568
(263,761)
Matvey Shekhovtsov
(1,582)
(16,800)
1,582
(16,800)
Graham Woolfman
-
(6,236)
-
(6,236)
Jamison Firestone
-
(4,698)
-
(4,698)
Richard Collett
-
(14,673)
-
(14,673)
Neil Rafferty
(312)
(4,698)
312
(4,698)
\n
The following movement on Director (payables) and receivables with the Company took place during the
\n
year ended 31 December 2025.
\n\n \n
(Payable)/
Increase in
Increase in
(Payable)/
receivable at
payables
receivables
receivable at
1 January
and received
and paid to
31 December
2025
from director
director
2025
\u20ac
\u20ac
\u20ac
\u20ac
Ilya Merenzon
(147,217)
191,019
(138,546)
(94,744)
Matvey Shekhovtsov
(16,800)
4,800
(2,400)
(14,400)
Graham Woolfman
(6,236)
6,236
-
-
Jamison Firestone
(4,698)
-
(2,181)
(6,879)
Richard Collett
(14,673)
-
(5,837)
(20,510)
Neil Rafferty
(4,698)
-
(3,460)
(8,158)
\n
The following movement on Director (payables) and receivables with the Company took place during the
\n
year ended 31 December 2024.
\n\n \n
(Payable)/
Increase in
Increase in
(Payable)/
receivable at
payables
receivables
receivable at
1 January
and received
and paid to
31 December
2024
from director
director
2024
\u20ac
\u20ac
\u20ac
\u20ac
Ilya Merenzon
(18,015)
(169,900)
40,698
(147,217)
Matvey Shekhovtsov
(1,582)
(16,800)
1,582
(16,800)
Graham Woolfman
-
(6,236)
-
(6,236)
Jamison Firestone
-
(4,698)
-
(4,698)
Richard Collett
-
(14,673)
-
(14,673)
Neil Rafferty
(312)
(4,698)
312
(4,698)
The following balances remained outstanding at 31 December with related parties.
Included in trade and other payables
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Group
Company
Related party
2025
2024
2025
2024
\u00a0
\u20ac
\u20ac
\u20ac
\u20ac
Group undertakings
\u00a0 \u00a0 \u00a0 \u00a0
World Chess Events Ltd
n/a
n/a
-
-
World Chess Europe GmbH
n/a
n/a
-
-
World Chess US Inc.
n/a
n/a
-
156,552
World Chess Sakartvelo LLC
n/a
n/a
-
-
Directors
\u00a0 \u00a0 \u00a0 \u00a0
Ilya Merenzon
-
253,760
94,744
147,217
Matvey Shekhovtsov
14,400
16,800
14,400
16,800
Graham Woolfman
-
6,236
-
6,236
Jamison Firestone
6,879
4,698
6,879
4,698
Richard Collett
20,510
14,673
20,510
14,673
Neil Rafferty
8,158
4,698
8,158
4,698
\n
Included in trade and other receivables
\n\n\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\n
\u00a0 \u00a0
\u00a0
Group
Company
Related party
2025
2024
2025
2024
\u00a0
\u20ac
\u20ac
\u20ac
\u20ac
Group undertakings
\u00a0 \u00a0 \u00a0 \u00a0
World Chess Events Ltd
n/a
n/a
6,962,574
4,713,473
World Chess US Inc.
n/a
n/a
462,495
-
Directors
\u00a0 \u00a0 \u00a0 \u00a0
Ilya Merenzon
12,421
-
-
-
\n
28
ULTIMATE CONTROLLING PARTY
The ultimate controlling party is Ilya Merenzon by virtue of his shareholding in the Company.", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00240": { "value": "29
SHARE-BASED PAYMENT TRANSACTIONS
On 14 January 2025, the Company issued 717,948 new ordinary shares to a senior consultant in lieu of
fees of \u20ac33,177.", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "TagsThatMustBeAppliedIfCorrespondingInformationIsPresentInAReport_Label_00241": { "value": "30
SUBSEQUENT EVENTS
Subsequent to the reporting date, on 15 January 2026, the Company issued 8,333,333 new ordinary shares
for total cash consideration of \u20ac100,000.
In addition, following shareholder approval, the Company issued a further 175,915,198 new ordinary
shares on 1 April 2026 for total cash consideration of \u20ac1,287,758.
The total proceeds raised subsequent to the reporting date amounted to approximately \u20ac1.39 million.
These proceeds strengthen the Group\u2019s working capital position.", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:213800BKR3RT23F9DN71", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } } } }