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Registered number: 13473112









OS STUDIOS EVENTS LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
OS STUDIOS EVENTS LIMITED
REGISTERED NUMBER: 13473112

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
115,676
2,881

Cash at bank and in hand
 5 
15,026
4,051

  
130,702
6,932

Creditors: amounts falling due within one year
 6 
(196,894)
(75,953)

Net current liabilities
  
 
 
(66,192)
 
 
(69,021)

Total assets less current liabilities
  
(66,192)
(69,021)

  

Net liabilities
  
(66,192)
(69,021)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(66,193)
(69,022)

  
(66,192)
(69,021)


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 8 January 2025.




I Packard
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
OS STUDIOS EVENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

OS Studios Events Limited is a private company, limited by shares and incorporated in England and Wales. The address of the registered office is 124 Finchley Road, London, NW3 5JS.

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 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:

 
2.2

Going concern

At the reporting date the Company had net liabilities of £66,192 and meets its day to day working capital requirements through loans from its immediate parent undertaking.
After reviewing the Company's forecasts, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The directors therefore consider that it is appropriate to adopt the going concern basis in preparing the Company's financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

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 except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
OS STUDIOS EVENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue comprises fees receivable in respect of services provided during the period.

 
2.5

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.6

Debtors

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

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.8

Creditors

Short-term creditors are measured at the transaction price.

3.


Employees

The average monthly number of employees, including directors, during the period was 5 (2022 - 4).


4.


Debtors

2023
2022
£
£


Other debtors
9,973
2,881

Prepayments and accrued income
105,703
-

115,676
2,881


Page 3

 
OS STUDIOS EVENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
15,026
4,051

15,026
4,051



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
271

Amounts owed to group companies
174,695
48,575

Other taxation and social security
14,039
2,803

Accruals and deferred income
8,160
24,304

196,894
75,953



7.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,904 (2022: £2,250). Contributions totalling £nil (2022: £nil) were payable to the fund at the balance sheet date and are included in creditors.


8.


Related party transactions

During the year, revenue includes £188,051 (2022: £96,556) receivable from the Company's immediate parent undertaking. During the year funding totalling £208,468 (2022: £91,853) was received from the Company's immediate parent undertaking.  At the balance sheet date, creditors include £174,695 (2022: £48,575) due to the parent undertaking.


9.


Controlling party

Throughout the period the Company's immediate parent undertaking was OS Studios Holdings Inc, a company incorporated in United States of America, by virtue of their shareholding. The ultimate controlling party is Project Worldwide Inc, a company incorporated in United States of America.
Page 4

 
OS STUDIOS EVENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

10.


Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2023 was unqualified.

The audit report was signed on 10 January 2025 by Paul Taiano (Senior Statutory Auditor) on behalf of Nyman Libson Paul LLP.

 
Page 5