Registered number: 00546364
ACT ENTERTAINMENT GROUP LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2023
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ACT ENTERTAINMENT GROUP LIMITED
REGISTERED NUMBER: 00546364
BALANCE SHEET
AS AT 31 DECEMBER 2023
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Capital redemption reserve
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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 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 income and retained earnings 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 and were signed on its behalf on 14 October 2024.
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ACT ENTERTAINMENT GROUP LIMITED
REGISTERED NUMBER: 00546364
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
The notes on pages 4 to 7 form part of these financial statements.
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ACT ENTERTAINMENT GROUP LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
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Capital redemption reserve
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Comprehensive income for the year
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Total comprehensive income for the year
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The notes on pages 4 to 7 form part of these financial statements.
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022
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Capital redemption reserve
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Comprehensive income for the year
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Total comprehensive income for the year
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The notes on pages 4 to 7 form part of these financial statements.
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ACT ENTERTAINMENT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
ACT Entertainment Group Limited is a private company limited by shares and incorporated in England and Wales. The address of its registered office is 124 Finchley Road, London NW3 5JS.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
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Exemption from preparing consolidated financial statements
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The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Short term debtors are measured at transaction price, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade creditors and other debtors and creditors.
Short term creditors are measured at the transaction price.
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ACT ENTERTAINMENT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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The average monthly number of employees, including directors, during the year was 2 (2022 - 2).
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Investments in subsidiary companies
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The following were subsidiary undertakings of the Company:
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Associated Capital Theatres Limited
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ACT Co-Productions Limited
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Investment in and management of theatrical productions
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The aggregate of the share capital and reserves as at 31 December 2023 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
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Aggregate of share capital and reserves
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Associated Capital Theatres Limited
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ACT Co-Productions Limited
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ACT ENTERTAINMENT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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ACT ENTERTAINMENT GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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Allotted, called up and fully paid
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1,000 Ordinary shares of £1.00 each
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5,050,000 Redeemable preference shares of £1.00 each
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The redeemable preference shares are entitled to a fixed non-cumulative dividend of 5 pence per share. The company has the right to redeem at par all or such other number of the redeemable preference shares at any time with written notice. In the event of a winding up, any suplus assets shall be applied in first paying to the redeemable preference shareholders an amount equal to the subscription price paid with the balance of any assets being distributed to the ordinary shareholders.
During the period £NIL (2022: £NIL) redeemable preference shares were redeemed at par value.
On 01 April 2023, the 1,000 ordinary shares and 5,050,000 redeemable preference shares were transferred from Act Holdings Limited to R C Wingate.
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Related party transactions
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Creditors due within one year include an interest free and unsecured loan of £NIL (2022: £32,624) owed to Act Holdings Limited.
At the balance sheet date, the company was owed £1,858,572 (2022: £1,673,586) by its subsidiary company ACT Productions Limited. Full provision has been made for potential non-recovery against this balance.
At the balance sheet date, debtors include £1,628 owed by (2022: 1,632) the director.
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The ultimate controlling party is R C Wingate, a director of the company.
The company's previous ultimate controlling party was Act Holdings Limited, a company registered in Bermuda. ACT Holdings Limited transferred its full shareholding to R C Wingate on 1 April 2023, who is the director of the company.
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