BM UK Productions Limited
Unaudited Financial Statements
For the period ended 31 January 2023
Pages for Filing with Registrar
Company Registration No. 10620740 (England and Wales)
BM UK Productions Limited
Contents
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
BM UK Productions Limited
Balance Sheet
As at 31 January 2023
Page 1
2023
2021
Notes
Fixed assets
Intangible assets
3
-
0
2,483,318
Investments
4
1
1
1
2,483,319
Current assets
Debtors
6
1,072,364
1,075,377
Cash at bank and in hand
153,052
489,222
1,225,416
1,564,599
Creditors: amounts falling due within one year
7
(1,374,316)
(5,658,710)
Net current liabilities
(148,900)
(4,094,111)
Net liabilities
(148,899)
(1,610,792)
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
(148,900)
(1,610,793)
Total equity
(148,899)
(1,610,792)

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 UK Productions 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. 10620740
BM UK Productions 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 March 2021
1
(651,988)
(651,987)
Period ended 31 October 2021:
Loss and total comprehensive income for the period
-
(958,805)
(958,805)
Balance at 31 October 2021
1
(1,610,793)
(1,610,792)
Period ended 31 January 2023:
Profit and total comprehensive income for the period
-
1,461,893
1,461,893
Balance at 31 January 2023
1
(148,900)
(148,899)
BM UK Productions Limited
Notes to the Financial Statements
For the period ended 31 January 2023
Page 4
1
Accounting policies
Company information

BM UK Productions 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
Reporting period

The reporting period has been extended 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 comparative amounts presented in the financial statements are not entirely comparable.

1.2
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.

1.3
Going concern

These financial statements are prepared on the going concern basis. The company is funded by theatrical investment loans which are repayable only to the extent of the assets available within the company and its subsidiary, BM London Productions Limited, and the timing of repayments is at the discretion of the directors.

 

The company presented the show "Get Up Stand Up" which ran at the Lyric Theatre until 8 January 2023.

 

With the production now closed the directors have prepared the financial statements on a basis other than that of a going concern. The value of pre-production assets capitalised in the accounts has been fully amortised in the period as their recoverable value is nil. Furthermore the company is funded by theatrical investment loans which are repayable only to the extent of the assets available within the company and its subsidiary, BM London Productions Limited. The value of these liabilities has been written down to the sum which is repayable to the creditors based on the amount of those assets available at the balance sheet date. No other adjustments have been necessary in order to restate assets at their recoverable amounts.

 

 

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and 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.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from theatrical productions is recognised by reference to the date the performance took place.

BM UK Productions Limited
Notes to the Financial Statements (Continued)
For the period ended 31 January 2023
1
Accounting policies
(Continued)
Page 5
1.5
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 company capitalises pre-production development costs incurred subsequent to the green-lighting of a new production to the extent that the directors have a reasonable belief that the production will recoup. Costs capitalised exclude marketing and promotional expenditure incurred in relation to the production. All relevant development expenditure is capitalised within intangible assets as pre-production costs and the company does not distinguish between the cost of physical assets, such as the set, and the development of broader aspects of the show, as the distinction is not useful and the expenditure is considered as a whole.

 

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Pre-production costs
Over the life of the production *

* The amortisation period commences from the date of opening of the production. The estimated life of the production is under continual re-assessment, with the impact of any changes to the estimated life on the amortisation period being accounted for prospectively.

1.6
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.

1.7
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.

BM UK Productions Limited
Notes to the Financial Statements (Continued)
For the period ended 31 January 2023
1
Accounting policies
(Continued)
Page 6

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.

1.8
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.

1.9
Financial instruments

The company has only basic financial instruments measured at amortised cost, with no financial instruments classified as other, or basic instruments measured at fair value.

1.10
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.

1.11
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 (including directors) employed by the company during the period was 0 (October 2021: 0).

BM UK Productions Limited
Notes to the Financial Statements (Continued)
For the period ended 31 January 2023
Page 7
3
Intangible fixed assets
Pre-production costs
Cost
At 1 November 2021
2,555,602
Additions
548,309
At 31 January 2023
3,103,911
Amortisation and impairment
At 1 November 2021
72,284
Amortisation charged for the period
3,031,627
At 31 January 2023
3,103,911
Carrying amount
At 31 January 2023
-
0
At 31 October 2021
2,483,318
4
Fixed asset investments
2023
2021
Shares in group undertakings and participating interests
1
1

Investments in subsidiary undertakings are recognised at cost.

5
Subsidiaries

Details of the company's subsidiaries at 31 January 2023 are as follows:

Name of undertaking
Address
Class of
% Held
shares held
Direct
BM London Productions Limited
1
Ordinary
100.00

Registered office addresses (all UK unless otherwise indicated):

1
39-41 Charing Cross Road, London, England, WC2H 0A
BM UK Productions Limited
Notes to the Financial Statements (Continued)
For the period ended 31 January 2023
Page 8
6
Debtors
2023
2021
Amounts falling due within one year:
Trade debtors
-
0
275,647
Amounts owed by group undertakings
1,072,364
799,730
1,072,364
1,075,377
7
Creditors: amounts falling due within one year
2023
2021
Other creditors
1,370,640
5,652,610
Accruals and deferred income
3,676
6,100
1,374,316
5,658,710
8
Called up share capital
2023
2021
2023
2021
Ordinary share capital
Number
Number
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
9
Parent company

The immediate parent company is BM Theatre Limited, a company incorporated in the United Kingdom.

 

There is no single ultimate controlling party.

2023-01-312021-11-01false19 October 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityM Byam ShawS N NewmanR RamusN SalmonK Barraball106207402021-11-012023-01-31106207402023-01-31106207402021-10-3110620740core:IntangibleAssetsOtherThanGoodwill2023-01-3110620740core:IntangibleAssetsOtherThanGoodwill2021-10-3110620740core:CurrentFinancialInstrumentscore:WithinOneYear2023-01-3110620740core:CurrentFinancialInstrumentscore:WithinOneYear2021-10-3110620740core:ShareCapital2023-01-3110620740core:ShareCapital2021-10-3110620740core:RetainedEarningsAccumulatedLosses2023-01-3110620740core:RetainedEarningsAccumulatedLosses2021-10-3110620740core:ShareCapital2021-02-2810620740core:RetainedEarningsAccumulatedLosses2021-02-2810620740bus:Director42021-11-012023-01-3110620740core:RetainedEarningsAccumulatedLosses2021-03-012021-10-31106207402021-03-012021-10-3110620740core:RetainedEarningsAccumulatedLosses2021-11-012023-01-3110620740core:IntangibleAssetsOtherThanGoodwill2021-11-012023-01-3110620740core:DevelopmentCostsCapitalisedDevelopmentExpenditure2021-11-012023-01-3110620740core:IntangibleAssetsOtherThanGoodwill2021-10-3110620740core:CurrentFinancialInstruments2023-01-3110620740core:CurrentFinancialInstruments2021-10-3110620740bus:PrivateLimitedCompanyLtd2021-11-012023-01-3110620740bus:SmallCompaniesRegimeForAccounts2021-11-012023-01-3110620740bus:FRS1022021-11-012023-01-3110620740bus:AuditExemptWithAccountantsReport2021-11-012023-01-3110620740bus:Director12021-11-012023-01-3110620740bus:Director22021-11-012023-01-3110620740bus:Director32021-11-012023-01-3110620740bus:CompanySecretary12021-11-012023-01-3110620740bus:FullAccounts2021-11-012023-01-31xbrli:purexbrli:sharesiso4217:GBP