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Raine International Holdings UK Limited
























Financial statements



For the year ended 31 December 2023



Registered number: 13780881
Information for filing with the registrar

 
Raine International Holdings UK Limited - Registered number:13780881


Statement of financial position
As at 31 December 2023

2023
2022
Note
$
$

Fixed assets
  

Investments
 3 
2
2

  
2
2

Current assets
  

Debtors
 4 
1,888,741
3,342,284

  
1,888,741
3,342,284

Creditors: amounts falling due within one year
 5 
(11,475,099)
(5,317,878)

Net current liabilities
  
 
 
(9,586,358)
 
 
(1,975,594)

Total assets less current liabilities
  
(9,586,356)
(1,975,592)

Net liabilities
  
(9,586,356)
(1,975,592)


Capital and reserves
  

Called up share capital 
  
1
1

Capital contribution reserve
  
1
1

Profit and loss account
  
(9,586,358)
(1,975,594)

  
(9,586,356)
(1,975,592)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board on 23 September 2024 and were signed on its behalf by:




Brandon Gardner
Jason Schretter
Director
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
Raine International Holdings UK Limited
 
 

Notes to the financial statements
For the year ended 31 December 2023

1.


General information

Raine International Holdings UK Limited is a private company, limited by shares, incorporated in England and Wales. Its registered office is 5th Floor, 25 Berkeley Square, London, W1J 6HN and its registered number is 13780881.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.

The company has taken advantage of the exemption under Section 399(2A)(i) of the Companies Act 2006 to not prepare group accounts.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. As at 31 December 2023, the company had net liabilities of $9,586,356.
The company is reliant on support from its ultimate parent company, The Raine Group LLC. The company has received a letter from the ultimate parent company confirming they will continue to provide financial support to the company to enable it to meet all of its liabilities as they fall due, for a period of at least 12 months from the approval of these financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is USD.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 2

 
Raine International Holdings UK Limited
 

Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.6

Creditors

Short-term creditors are measured at the transaction price.

 
2.7

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to and from related parties and investments in ordinary shares.

  
2.8

Capital contributions

Capital contributions are classified as equity and represent funds provided by the company's sole shareholder, and are repayable by the company at its sole discretion.


3.


Fixed asset investments





Investments in subsidiary companies

$



Cost or valuation


At 1 January 2023
2



At 31 December 2023
2





4.


Debtors

2023
2022
$
$


Amounts owed by group undertakings
1,888,741
3,342,284

1,888,741
3,342,284


Page 3

 
Raine International Holdings UK Limited
 
 

Notes to the financial statements
For the year ended 31 December 2023

5.


Creditors: amounts falling due within one year

2023
2022
$
$

Amounts owed to group undertakings
11,461,383
5,304,870

Accruals
13,716
13,008

11,475,099
5,317,878



6.


Contingent liabilities

The company had no contingent liabilities at 31 December 2023 or 31 December 2022.


7.


Capital commitments


The company had no capital commitments at 31 December 2023 or 31 December 2022.



8.


Controlling party

The smallest group of undertakings for which consolidated group accounts, which include the company, have been drawn up is headed by The Raine Group LLC. The registered office of the Raine Group LLC is c/o the Corporation Service Company, 2711 Centerville Road, Suite 400, Wilmington, County of New Castle, Delaware 19808, USA.


9.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 24 September 2024 by Peter Chapman (Senior statutory auditor) on behalf of Buzzacott LLP.

Page 4