Really Useful Holdings Limited
Annual Report and Financial Statements
For the year ended 30 June 2023
Company Registration No. 02353266 (England and Wales)
Really Useful Holdings Limited
Company Information
Directors
M Lowes
L I Chapman
(Appointed 1 November 2023)
J S McKnight
(Appointed 4 December 2023)
Company number
02353266
Registered office
6 Catherine Street
London
WC2B 5JY
Auditors
Moore Kingston Smith LLP
Statutory Auditor
17 Gresse Street
London
W1T 1QL
Bankers
Handelsbanken plc
2nd Floor
1 Kingsway
London
WC2B 6AN
Really Useful Holdings Limited
Contents
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Notes to the financial statements
11 - 17
Really Useful Holdings Limited
Strategic Report
For the year ended 30 June 2023
Page 1
The directors present the strategic report for the year ended 30 June 2023.
Review of the business
The balance sheet shows net assets of £873,359 (2022: £873,359).
Key performance indicators
Really Useful Group Investments Limited group manages its operations on a divisional basis. Really Useful Holdings Limited is a holding company only and for this reason, the company's directors believe that further key performance indicators for the company are not necessary or appropriate for an understanding of the development, performance or position of the business.
The directors are not aware, at the date of this report, of any likely major changes in the company's activities in the next financial year.
Principal risks and uncertainties
The company is a holding company and does not trade. It is not exposed to any trading risks.
The company forms part of Really Useful Group Investments Limited group. It has minimal exposure to financial risks such as credit risk, interest rate risk and cash flow and liquidity risk.
Financial risk management objectives and policies
The group's activities expose it to a number of financial risks including cash flow risk and liquidity risk.
Liquidity risk
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the main group operating company, The Really Useful Group Limited, has in place an overdraft facility in order to meet day-to-day working capital requirements.
Cash flow risk
The group operates in a number of countries around the world and is therefore exposed to movements in currency exchange rates. The directors consider that the level of trading in overseas currencies does not warrant taking out hedges to manage any fluctuations in exchange rates. However, the group's treasury function manages the risk by disposing of foreign currency balances on a regular basis.
Future developments
The directors expect the general level of activity to remain consistent with 2023 in the forthcoming year.
L I Chapman
Director
26 February 2024
Really Useful Holdings Limited
Directors' Report
For the year ended 30 June 2023
Page 2
The directors present their annual report and financial statements for the year ended 30 June 2023.
Principal activities
The company's principal activity is that of a holding company and is likely to continue with this activity within the foreseeable future.
Results and dividends
The results for the year are set out on page 8.
No ordinary dividends were paid (2022: £nil). The directors do not recommend payment of a final dividend.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
M Lowes
L I Chapman
(Appointed 1 November 2023)
J S McKnight
(Appointed 4 December 2023)
C Farmer
(Resigned 24 February 2023)
J L Koravos
(Resigned 30 April 2023)
J C Quillan
(Resigned 4 December 2023)
Auditor
In accordance with the company's articles, a resolution proposing that Moore Kingston Smith LLP be reappointed as auditor of the company will be put at a General Meeting.
Energy and carbon report
As the company has not consumed more than 40,000 kWh of energy in this reporting period, it qualifies as a low energy user under these regulations and is not required to report on its emissions, energy consumption or energy efficiency activities.
Statement of disclosure to auditor
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.
On behalf of the board
L I Chapman
Director
26 February 2024
Really Useful Holdings Limited
Directors' Responsibilities Statement
For the year ended 30 June 2023
Page 3
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Really Useful Holdings Limited
Independent Auditor's Report
To the Members of Really Useful Holdings Limited
Page 4
Opinion
We have audited the financial statements of Really Useful Holdings Limited (the 'company') for the year ended 30 June 2023 which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 30 June 2023 and of its result for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Really Useful Holdings Limited
Independent Auditor's Report (Continued)
To the Members of Really Useful Holdings Limited
Page 5
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Really Useful Holdings Limited
Independent Auditor's Report (Continued)
To the Members of Really Useful Holdings Limited
Page 6
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the company’s internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
Conclude on the appropriateness of the directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Really Useful Holdings Limited
Independent Auditor's Report (Continued)
To the Members of Really Useful Holdings Limited
Page 7
Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company.
Our approach was as follows:
We obtained an understanding of the legal and regulatory requirements applicable to the company and considered that the most significant are the Companies Act 2006, UK financial reporting standards as issued by the Financial Reporting Council, and UK taxation legislation.
We obtained an understanding of how the company complies with these requirements by discussions with management and those charged with governance.
We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance.
We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations.
Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required.
There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Mark Twum-Ampofo
Senior Statutory Auditor
for and on behalf of Moore Kingston Smith LLP
19 March 2024
Chartered Accountants
Statutory Auditor
Charlotte Building
17 Gresse Street
London
W1T 1QL
Really Useful Holdings Limited
Statement of Comprehensive Income
For the year ended 30 June 2023
Page 8
2023
2022
Notes
£
£
Administrative expenses
88,837
Profit before taxation
-
88,837
Taxation
4
Profit for the financial year
88,837
Total comprehensive income for the year
88,837
The Profit and Loss Account has been prepared on the basis that all operations are continuing operations.
Really Useful Holdings Limited
Balance Sheet
As at 30 June 2023
Page 9
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
5
10,441,498
10,441,498
Current assets
-
-
Creditors: amounts falling due within one year
6
(9,568,139)
(9,568,139)
Net current liabilities
(9,568,139)
(9,568,139)
Total assets less current liabilities
873,359
873,359
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
873,358
873,358
Total equity
873,359
873,359
The financial statements were approved by the board of directors and authorised for issue on 26 February 2024 and are signed on its behalf by:
L I Chapman
Director
Company Registration No. 02353266
Really Useful Holdings Limited
Statement of Changes in Equity
For the year ended 30 June 2023
Page 10
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 July 2021
1
784,521
784,522
Year ended 30 June 2022:
Profit and total comprehensive income for the year
-
88,837
88,837
Balance at 30 June 2022
1
873,358
873,359
Year ended 30 June 2023:
Profit and total comprehensive income for the year
-
-
Balance at 30 June 2023
1
873,358
873,359
Really Useful Holdings Limited
Notes to the Financial Statements
For the year ended 30 June 2023
Page 11
1
Accounting policies
Company information
Really Useful Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6 Catherine Street, London, WC2B 5JY.
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.
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.
The company has also taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.
Really Useful Holdings Limited is a wholly owned subsidiary of Really Useful Group Investments Limited and the results of Really Useful Holdings Limited are included in the consolidated financial statements of Really Useful Group Investments Limited which are available from Companies House, Crown Way, Cardiff, CF14 3UZ.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
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.
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.
1.4
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.
Really Useful Holdings Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2023
1
Accounting policies
(Continued)
Page 12
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Other financial assets
Other financial assets comprise loan investments into theatrical productions. Such loans are repaid from funds generated by the profitable running of the productions; are recoverable only to the extent of the net assets available to the production and in the event of early closure of the production before the loan is repaid The Group has no further claim against the production; and the timing of the repayments is at the reasonable discretion of the production. Subsequent to repayment The Group is entitled to a fixed share of the profit of the production.
There is no reliable measure for the fair value of such instruments which are therefore measured at amortised cost.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Really Useful Holdings Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2023
1
Accounting policies
(Continued)
Page 13
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Other financial liabilities
Other financial liabilities comprise loans received from investors to finance Theatrical Productions. Consistent with industry norms these loans are repayable out of the initial profits of the production; are repayable to the extent of the net assets available to the production and in the extent of closure of the production before the loan is repaid the lenders have no further claim against the production; and terms of repayments is at the reasonable discretion of The Group. Subsequent to repayment the lenders are entitled to a fixed share of the profits of the production. There is no reliable measure of fair value for such instruments which are therefore measured at amortised cost.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
1.6
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.
1.7
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.
Really Useful Holdings Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2023
1
Accounting policies
(Continued)
Page 14
1.8
The company and its related companies utilise the application of group relief whereby current year tax losses from one company will be surrendered to a company with current year taxable profits. The amount surrendered from the loss making company will not exceed the amount of the profit making company's taxable profits.
To the extent that losses are surrendered to shelter profits recognised in the accounts, the profit-making company will utilise the tax loss surrendered and book an amount equivalent to the tax saving in its intercompany account.
2
Auditor's remuneration
2023
2022
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
3,600
For other services
Preparation of statutory financial statements
1,600
Taxation compliance services
1,900
-
3,500
The remuneration of the auditor has been borne by the subsidiary company The Really Useful Group Limited.
3
Employees
The company had 4 employees (2022: 3) who were directors. The directors received no remuneration in the year in respect of qualifying services (2022: £nil). Directors are remunerated by the company's parent.
2023
2022
Number
Number
Total
4
3
4
Taxation
Really Useful Holdings Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2023
4
Taxation
(Continued)
Page 15
The actual charge for the year can be reconciled to the expected (credit)/charge for the year based on the profit or loss and the standard rate of tax as follows:
2023
2022
£
£
Profit before taxation
88,837
Expected tax charge based on the standard rate of corporation tax in the UK of 20.50% (2022: 19.00%)
16,879
Non Taxable Income
(16,879)
Taxation charge for the year
-
-
5
Fixed asset investments
2023
2022
Notes
£
£
Investments in subsidiaries
8
10,441,498
10,441,498
6
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
9,568,139
9,568,139
Intercompany balances are interest free and repayable on demand.
7
Share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
Really Useful Holdings Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2023
Page 16
8
Subsidiaries
Details of the company's subsidiaries at 30 June 2023 are as follows:
Name of undertaking
Registered
Nature of business
Class of
% Held
office key
shares held
Direct
Indirect
Company On Stage Limited
1
Theatre producer
Ordinary
100.00
Golgotha Limited
1
Dormant
Ordinary
100.00
Jacob & Sons Limited
1
Film production
Ordinary
100.00
Really Useful Films Limited
1
Film production
Ordinary
100.00
SOR Productions UK Limited
1
Theatre producer
Ordinary
100.00
The Opera Ghost Limited
1
Film production
Ordinary
100.00
The Really Useful Broadway Inc
2
Theatre producer
Ordinary
100.00
The Really Useful Broadway Limited
1
Theatre producer
Ordinary
100.00
The Really Useful Company Inc
2
Theatre producer
Ordinary
100.00
The Really Useful Company Limited
1
Dormant
Ordinary
100.00
The Really Useful Film Company Limited
1
Film Production
Ordinary
100.00
The Really Useful Record Company Limited
1
Dormant
Ordinary
100.00
The Really Useful Theatre Company Inc
2
Theatre producer
Ordinary
100.00
The Really Useful Theatre Company Limited
1
Theatre producer
Ordinary
100.00
U-Cast Limited
1
Dormant
Ordinary
100.00
Angel of Music Limited
1
Theatre producer
Ordinary
100.00
The Really Useful Group Limited
1
Develop and exploit the rights of musical and dramatic works
Ordinary
100.00
Really Useful Touring Inc
2
Theatre production
Ordinary
100.00
Really Useful Productions Europe Limited
3
Non-trading
Ordinary
100.00
Cinders London Limited
1
Theatre producer
Ordinary
100.00
Cinders Production Company Limited
1
Theatre producer
Ordinary
100.00
The Really Useful North Company Inc
2
Dormant
Ordinary
100.00
Cinders Production Inc
4
Theatre producer
Ordinary
100.00
Registered Office addresses:
1
6 Catherine Street, London, WC2B 5JY
2
c/o Sauvigne & Company, LLP, Certified Public Accountants, 25 S. Service Road - Suite 100, Jericho, NY 11753
Really Useful Holdings Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2023
8
Subsidiaries
(Continued)
Page 17
3
Commercial House, Millbank Business Park, Lucan, Co. Dublin, K78X5W6
4
c/o Wagner Johnson Productions, 130 West 42nd Street, New York, United States of America, NY 10036
9
Ultimate controlling party
The immediate and ultimate parent company and the parent company of the smallest and largest group for which group accounts are prepared and of which the company is a member is Really Useful Group Investments Limited, a company incorporated in England and Wales. Its registered address is 6 Catherine Street, London, WC2B 5JY. A copy of the group accounts of Really Useful Group Investments Limited may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.
The ultimate controlling party is Lord Lloyd Webber, who is the owner of the ultimate parent company.
10
Joint ventures
Details of the company's joint ventures at 30 June 2023 are as follows:
Name of undertaking
Registered
Nature of business
Class of
% Held
office key
shares held
Direct
Indirect
Amigos Para Siempre Limited
1
Theatre producer
Ordinary
50.00
Cinders Broadway Limited Partnership
2
Theatre producer
Investor profit share entitlement
35.28
Phantom Productions London Limited
3
Theatre producer
Ordnary
55.00
SOR Broadway Limited Partnership
4
Theatre producer
Investor profit share entitlement
59.06
The Phantom Company Limited Partnership
5
Theatre producer
Investor profit share entitlement
27.00
Registered Office addresses:
1
6 Catherine Street, London, United Kingdom, WC2 5JY
2
c/o Wagner Johnson Productions, 130 West 42nd Street, New York, United States of America, NY 10036
3
1-2 Bedford Square, London, United Kingdom, WC1B 3RB
4
230 West 41st Street, Suite 1703, New York, United States of America, NY 10036
5
1650 Broadway, Suite 800, New York, United States of America, NY 10019
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