BM Theatre Limited
Unaudited Financial Statements
For the period ended 31 January 2023
For Filing with Registrar
Company Registration No. 09835176 (England and Wales)
BM Theatre Limited
Contents
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 9
BM Theatre Limited
Balance Sheet
As at 31 January 2023
Page 1
2023
2021
Notes
£
£
£
£
Fixed assets
Intangible assets
3
119,547
Investments
4
1
1
119,548
1
Current assets
Debtors
7
60,381
59,662
Cash at bank and in hand
65,421
132,870
125,802
192,532
Creditors: amounts falling due within one year
8
(258,295)
(192,531)
Net current (liabilities)/assets
(132,493)
1
Net (liabilities)/assets
(12,945)
2
Capital and reserves
Called up share capital
9
2
2
Profit and loss reserves
(12,947)
Total equity
(12,945)
2
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
BM Theatre Limited
Balance Sheet (Continued)
As at 31 January 2023
Page 2
The financial statements were approved by the board of directors and authorised for issue on 17 October 2023 and are signed on its behalf by:
N Salmon
Director
Company Registration No. 09835176
BM Theatre Limited
Statement of Changes in Equity
For the period ended 31 January 2023
Page 3
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 April 2021
2
2
Period ended 31 October 2021:
Profit and total comprehensive income for the period
-
-
-
Balance at 31 October 2021
2
2
Period ended 31 January 2023:
Loss and total comprehensive income for the period
-
(12,947)
(12,947)
Balance at 31 January 2023
2
(12,947)
(12,945)
BM Theatre Limited
Notes to the Financial Statements
For the period ended 31 January 2023
Page 4
1
Accounting policies
Company information
BM Theatre Limited is a private company limited by shares incorporated in England and Wales. The registered office is 39-41 Charing Cross Road, London, England, WC2H 0AR.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Reporting period
The reporting period has been shortened and the financial statements have been presented for the period from 1 November 2021 to 31 January 2023, in order to bring it in line with its group companies. The prior period was for 1 April 2021 to 31 October 2021.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover represents the amount receivable for costs recharged net of VAT.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
The intangible fixed assets relate to pre production costs, which are amortised over the duration of the production. The production has not started yet, therefore no amortisation has been charged.
Options and rights
Straight line over 3 years
1.5
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
BM Theatre Limited
Notes to the Financial Statements (Continued)
For the period ended 31 January 2023
1
Accounting policies
(Continued)
Page 5
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.7
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8
Financial instruments
The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other, or basic financial instruments measured at fair value.
1.9
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
BM Theatre Limited
Notes to the Financial Statements (Continued)
For the period ended 31 January 2023
1
Accounting policies
(Continued)
Page 6
1.10
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons employed by the company during the period was 0 (2021 - 0).
3
Intangible fixed assets
Options and rights
£
Cost
At 1 November 2021
Additions
132,494
At 31 January 2023
132,494
Amortisation and impairment
At 1 November 2021
Amortisation charged for the period
12,947
At 31 January 2023
12,947
Carrying amount
At 31 January 2023
119,547
At 31 October 2021
4
Fixed asset investments
2023
2021
£
£
Shares in group undertakings and participating interests
1
1
BM Theatre Limited
Notes to the Financial Statements (Continued)
For the period ended 31 January 2023
Page 7
5
Subsidiaries
Details of the company's subsidiaries at 31 January 2023 are as follows:
Name of undertaking
Registered
Nature of business
Class of
% Held
office key
shares held
Direct
Indirect
BM UK Productions Limited
1
Theatrical productions
Ordinary
100.00
BM London Productions Limited
1
Theatrical productions
Ordinary
100.00
Registered Office addresses:
1
39-41 Charing Cross Road, London, England, WC2H 0A
6
Financial instruments
2023
2021
£
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
59,662
59,662
Carrying amount of financial liabilities
Measured at amortised cost
198,633
132,869
7
Debtors
2023
2021
Amounts falling due within one year:
£
£
Amounts owed by undertakings in which the company has a participating interest
59,662
59,662
Other debtors
719
60,381
59,662
8
Creditors: amounts falling due within one year
2023
2021
£
£
Amounts due to group undertakings
196,008
124,272
Corporation tax
59,662
59,662
Accruals and deferred income
2,625
8,597
258,295
192,531
BM Theatre Limited
Notes to the Financial Statements (Continued)
For the period ended 31 January 2023
Page 8
9
Called up share capital
2023
2021
2023
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
2
2
2
2
Both of the ordinary shares have full rights in the company relation to voting, dividends and distributions.
BM Theatre Limited
Notes to the Financial Statements (Continued)
For the period ended 31 January 2023
Page 9
10
Related party transactions
The company has taken the exemption under Section 33 Related Party Disclosures paragraph 33.1A from disclosing transactions with other members of a wholly owned group.
As at the balance sheet date the company owed Playful Entertainment Ltd, a shareholder, £59,662 (2021: £59,662).
11
Parent company
There is no single ultimate controlling party.