Company registration number 11846201 (England and Wales)
PHIL MCINTYRE LIVE LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PHIL MCINTYRE LIVE LIMITED
COMPANY INFORMATION
Directors
Mr P C McIntyre
Mr J P McIntyre
Company number
11846201
Registered office
15 Riversway Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP
Auditor
Wallwork Nelson & Johnson
Chandler House
7 Ferry Road Office Park
Riversway
Preston
PR2 2YH
PHIL MCINTYRE LIVE LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Statement of income and retained earnings
7
Balance sheet
8
Notes to the financial statements
9 - 17
PHIL MCINTYRE LIVE LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024
- 1 -

The directors present the strategic report for the year ended 30 June 2024.

Review of the business

The company is one of the leading promoters of live acts and entertainment at venues across the UK. We have particular niches in Comedy and Family entertainment.

 

Activity levels, in terms of ticket sales remained good, though margins remain tight, a reflection of the competitive industry in which we operate. Costs were affected by a one-off write off of a production that was aborted.

 

We expect 2025 to trade at similar levels to 2024. The company remains in a strong financial position.

Principal risks and uncertainties

The directors consider the principal risks and uncertainties faced by the company to be as follows:

 

Ability to attract artists and talent to work with the business

The business has been trading since 1974 and is well established in its industry where it has developed an outstanding reputation. The company has enhanced its ability to attract and retain performers though developing niche markets in comedy and arena tours. Its employees and agents are experienced and knowledgeable in the business, therefore being a trusted partner for Acts and other industry figures.

 

Public appetite for the events managed by the company

The company is dependent on the shows it puts out being attractive to the general public such that ticket sales are sufficient as a minimum to cover the fixed cost of putting the show on. Events are carefully selected and vetted by the company’s experienced staff prior to any commitment to initial investment. Marketing budgets are used to bolster ticket sales as appropriate. The company is exposed to the general economic climate in the UK and the amount of disposable income available to the public. The company mitigates this risk by monitoring ticket sales on a weekly basis and controlling costs accordingly.

Financial risk management

The simple business model operated by the company exposes it to few financial risks as opposed to operating risks. The directors consider that the only area where the company does have some exposure is in respect of credit risk. However, the company has in place a risk management programme that seeks to limit this exposure by regularly reviewing the credit worthiness of its debtors and ensuring that all amounts due to the company are collected on a timely basis. This is expanded on further in note 2 to the financial statements.

Key performance indicators

The company’s principal financial key performance indicator is gross profit, which represents the accumulated profit on individual productions after payments to performers and directly attributable overheads. The company monitors this on a production by production basis with weekly ticket sales being the principal driver.

 

The gross profit for Financial Year 2023 was £4.9m vs £5.9m in the previous Financial Year.

 

The company's principal non-financial key performance indicators are the retention of acts, key tours, and senior management with a low turnover seen during the year under review.

On behalf of the board

Mr P C McIntyre
Director
26 March 2025
PHIL MCINTYRE LIVE LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -

The directors present their annual report and financial statements for the year ended 30 June 2024.

Principal activities

The principal activity of the company is the promotion and management of concerts and other events in the entertainment business.

Results and dividends

The results for the year are set out on page 7.

Ordinary dividends were paid amounting to £1,000,000. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr P C McIntyre
Mr J P McIntyre
Auditor

The auditor, Wallwork Nelson & Johnson, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Strategic report

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of the principal risks and uncertainties and financial risk management.

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.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr P C McIntyre
Director
26 March 2025
PHIL MCINTYRE LIVE LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024
- 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:

 

 

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.

PHIL MCINTYRE LIVE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF PHIL MCINTYRE LIVE LIMITED
- 4 -
Opinion

We have audited the financial statements of Phil McIntyre Live Limited (the 'company') for the year ended 30 June 2024 which comprise the statement of income and retained earnings, the balance sheet 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 Financial Reporting Standard 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:

Basis for opinion

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.

Other information

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.

PHIL MCINTYRE LIVE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF PHIL MCINTYRE LIVE LIMITED (CONTINUED)
- 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:

 

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.

Matters on which we are required to report by exception

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:

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.

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.

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 specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud, is detailed below:

Because of the field in which the client operates, we identified the following area as being most likely to have a material impact on the financial statements: compliance with the UK Companies Act.

PHIL MCINTYRE LIVE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF PHIL MCINTYRE LIVE LIMITED (CONTINUED)
- 6 -

Owing to the inherent limitations of an audit, there is an unavoidable risk that some material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). For instance, the further removed non-compliance is from the events and transactions reflected in the financial statements, the less likely the auditor is to become aware of it or to recognize the non-compliance.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

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.

Michael Barker
Senior Statutory Auditor
For and on behalf of Wallwork Nelson & Johnson
Chartered Accountants
Statutory Auditor
Chandler House
7 Ferry Road Office Park
Riversway
Preston
PR2 2YH
26 March 2025
PHIL MCINTYRE LIVE LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
2024
2023
Notes
£
£
Turnover
3
40,157,069
37,404,234
Cost of sales
(35,207,884)
(31,480,195)
Gross profit
4,949,185
5,924,039
Administrative expenses
(4,424,200)
(3,603,394)
Operating profit
4
524,985
2,320,645
Interest receivable and similar income
6
43,888
-
0
Interest payable and similar expenses
7
(425)
(16,623)
Profit before taxation
568,448
2,304,022
Tax on profit
8
562,589
(318,617)
Profit for the financial year
1,131,037
1,985,405
Retained earnings brought forward
715,331
529,926
Dividends
9
(1,000,000)
(1,800,000)
Retained earnings carried forward
846,368
715,331

The statement of income and retained earnings has been prepared on the basis that all operations are continuing operations.

PHIL MCINTYRE LIVE LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 8 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
10
5,992,004
5,169,127
Cash at bank and in hand
2,706,703
3,880,908
8,698,707
9,050,035
Creditors: amounts falling due within one year
11
(7,852,338)
(8,160,981)
Net current assets
846,369
889,054
Creditors: amounts falling due after more than one year
12
-
0
(173,722)
Net assets
846,369
715,332
Capital and reserves
Called up share capital
14
1
1
Profit and loss reserves
846,368
715,331
Total equity
846,369
715,332

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 26 March 2025 and are signed on its behalf by:
Mr P C McIntyre
Director
Company registration number 11846201 (England and Wales)
PHIL MCINTYRE LIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 9 -
1
Accounting policies
Company information

Phil McIntyre Live Limited is a private company limited by shares incorporated in England and Wales. The registered office is 15 Riversway Business Village, Navigation Way, Ashton-on-Ribble, Preston, PR2 2YP.

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.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Phil McIntyre Holdings Limited. These consolidated financial statements are available from Companies House, Cardiff.

1.2
Going concern

These financial statements are prepared on the going concern basis.  The Directors have every expectation that the company and wider group will continue in operational existence for the foreseeable future. true

 

The group is self-funded and its business is both profitable and cash generative. The company currently has sufficient working capital, either directly or through group support, and is able to meet its liabilities as they fall due for payment over the upcoming twelve months. As a consequence, the directors believe that the company is a going concern at this time.

1.3
Turnover

Turnover represents amounts receivable for services, net of VAT and discounts, to the extent that the company has a right to consideration arising from the performance of its contractual arrangements.

 

Turnover is recognised in line with the dates of the concerts and shows which the company manages and promotes.

PHIL MCINTYRE LIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 10 -
1.4
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

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. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

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.

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.

PHIL MCINTYRE LIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 11 -
Basic financial liabilities

Basic financial liabilities, including trade creditors, are initially recognised at transaction price. 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. Trade creditors are recognised initially at transaction price.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

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
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

 

Credits to the taxation charge in respect of Theatre Tax Relief claims are recognised in the financial statements at the point it becomes clear that individual productions / tours fulfil qualifying criteria and it is possible to reliably estimate the quantum of specific, qualifying costs which will be included in such claims to HMRC. Given that productions within the company don't recur and have differing content, claims are typically recognised within the financial statements once they have been agreed with HMRC.

PHIL MCINTYRE LIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 12 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.9
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
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

PHIL MCINTYRE LIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
2
Judgements and key sources of estimation uncertainty
(Continued)
- 13 -

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

 

Impairment of trade debtors

At each balance sheet date, management undertake an assessment of the recoverability of trade debtors based upon their knowledge of the customers, ageing of the balances outstanding and previous write off history. Where necessary, an impairment is recorded as a doubtful debt. The actual level of debt collected may differ from the estimated level of recovery.

 

Revenue and profit recognition

Revenue and profit are recognised in line with the dates of the concerts and shows. At the balance sheet date, management undertake an assessment to ensure that correct cut off procedures have been applied, such that the recognition of revenue and profit within the accounting period is an accurate reflection of the activity in the same period.

 

Pre-production costs

Pre-production costs are recognised in the statement of income and retained earnings over the first committed run, being the guaranteed period over which each show will initially run for. In assessing the recoverability of prepaid pre-production costs at 30 June 2024, the directors were required to assess the likely enduring demand for each performance at that point.

3
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Entertainments industry
40,157,069
37,404,234
2024
2023
£
£
Turnover analysed by geographical market
United Kingdom
36,617,040
36,328,986
Overseas
3,540,029
1,075,248
40,157,069
37,404,234
2024
2023
£
£
Other revenue
Interest income
43,888
-
PHIL MCINTYRE LIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 14 -
4
Operating profit
2024
2023
Operating profit for the year is stated after charging:
£
£
Exchange losses
27,053
13,454
Research and development costs
4,199
11,874
Fees payable to the company's auditor for the audit of the company's financial statements
54,500
6,800
Operating lease charges
117,430
114,978
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
2
2
6
Interest receivable and similar income
2024
2023
£
£
Interest income
Other interest income
43,888
-
0
7
Interest payable and similar expenses
2024
2023
£
£
Other interest
425
16,623
8
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
-
0
318,617
Adjustments in respect of prior periods
(562,965)
-
0
Total current tax
(562,965)
318,617
Deferred tax
Origination and reversal of timing differences
376
-
0
Total tax (credit)/charge
(562,589)
318,617
PHIL MCINTYRE LIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
8
Taxation
(Continued)
- 15 -

The actual (credit)/charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
568,448
2,304,022
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 20.50%)
142,112
472,230
Tax effect of expenses that are not deductible in determining taxable profit
814
7,471
Group relief
(142,550)
-
0
Permanent capital allowances in excess of depreciation
-
0
(93)
Under/(over) provided in prior years
(562,965)
-
0
Creative industry tax relief
-
0
(160,991)
Taxation (credit)/charge for the year
(562,589)
318,617
9
Dividends
2024
2023
£
£
Final paid
1,000,000
1,800,000
10
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,225,005
3,273,304
Corporation tax recoverable
767,421
17,651
Amounts owed by group undertakings
477,981
279,628
Other debtors
532,970
-
0
Prepayments and accrued income
2,986,332
1,595,873
5,989,709
5,166,456
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset (note 13)
2,295
2,671
Total debtors
5,992,004
5,169,127
PHIL MCINTYRE LIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 16 -
11
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,247,922
1,894,042
Taxation and social security
-
0
427,670
Accruals and deferred income
6,604,416
5,839,269
7,852,338
8,160,981
12
Creditors: amounts falling due after more than one year
2024
2023
£
£
Accruals and deferred income
-
0
173,722
13
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Assets
Assets
2024
2023
Balances:
£
£
Accelerated capital allowances
2,295
2,671
2024
Movements in the year:
£
Asset at 1 July 2023
(2,671)
Charge to profit or loss
376
Asset at 30 June 2024
(2,295)

The deferred tax asset set out above is not expected to materially reverse within the next 12 months.

14
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
PHIL MCINTYRE LIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 17 -
15
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
120,000
-
0
16
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Category
Description of
Income
Expenditure
transaction
2024
2023
2024
2023
£
£
£
£
Other related parties
Sales and purchases
26,438
3,620
1,514,830
439,425
Balances with related parties
Category
Amounts owed by
Amounts owed to
related parties
related parties
2024
2023
2024
2023
£
£
£
£
Other related parties
244
647,207
187,051
-
0
Other information

The company has taken advantage of the exemption conferred by Section 33 FRS 102, namely from disclosing any transactions entered into between two or members of the group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.

17
Ultimate controlling party

The ultimate parent company is Phil McIntyre Holdings Limited, a company incorporated in England and Wales. The registered office of Phil McIntyre Holdings Limited is Richard House, 9 Winckley Square, Preston, PR1 3HP.

The largest and smallest group in which the results of the company are consolidated is that headed by Phil McIntyre Holdings Limited. Copies of the accounts can be obtained from Companies House, Crown Way, Cardiff CF14 3UZ.

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