Company registration number 15166690 (England and Wales)
ODEON (UK) PROPERTY HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
ODEON (UK) PROPERTY HOLDINGS LIMITED
CONTENTS
Page
Statement of financial position
2
Notes to the financial statements
3 - 7
ODEON (UK) PROPERTY HOLDINGS LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ODEON (UK) PROPERTY HOLDINGS LIMITED FOR THE PERIOD ENDED 30 JUNE 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Odeon (UK) Property Holdings Limited for the period ended 30 June 2024 set out on pages 2 to 7 from the company’s accounting records and from information and explanations you have given us.

 

We comply with the ethical and other professional requirements of the Institute of Chartered Accountants in England and Wales (ICAEW) which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Odeon (UK) Property Holdings Limited, as a body, in accordance with the terms of our current engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Odeon (UK) Property Holdings Limited and state those matters that we have agreed to state to the board of directors of Odeon (UK) Property Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Odeon (UK) Property Holdings Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Odeon (UK) Property Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Odeon (UK) Property Holdings Limited. You consider that Odeon (UK) Property Holdings Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Odeon (UK) Property Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Wilson Wright LLP
28 March 2025
Accountants
5 Fleet Place
London
EC4M 7RD
ODEON (UK) PROPERTY HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024
30 June 2024
- 2 -
2024
Notes
£
£
Non-current assets
Investments
2
26,820,558
Current assets
Trade and other receivables
3
60,578
Cash and cash equivalents
60,300
120,878
Current liabilities
4
(79,989)
Net current assets
40,889
Total assets less current liabilities
26,861,447
Non-current liabilities
5
(15,835,356)
Net assets
11,026,091
Equity
Called up share capital
8
11,072,981
Retained earnings
(46,890)
Total equity
11,026,091

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial period ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 28 March 2025
D Bardiger
Director
Company registration number 15166690 (England and Wales)
ODEON (UK) PROPERTY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information

Odeon (UK) Property Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is First Floor, 5 Fleet Place, London, EC4M 7RD.

1.1
Reporting period

The financial statements are presented for the period from incorporation on 26 September 2023 up to 30 June 2024.

1.2
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 as applicable to companies subject to the small companies regime. 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 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 taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.3
Going concern

At 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.true

1.4
Non-current 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 the income statement.

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.

1.5
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.

ODEON (UK) PROPERTY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.6
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 statement of financial position 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 trade and other receivables 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.

Impairment of financial assets

Financial assets, other than those held at fair value through the statement of income, 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 the statement of income.

 

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 the statement of income.

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.

ODEON (UK) PROPERTY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including trade and other payables, 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 payables 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.7
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.

2
Fixed asset investments
2024
£
Shares in group undertakings
10,570,559
Loans to group undertakings
16,249,999
26,820,558
Movements in non-current investments
Shares in subsidiaries
Loans to subsidiaries
Total
£
£
£
Cost or valuation
At 26 September 2023
-
-
-
Additions
10,570,559
16,249,999
26,820,558
At 30 June 2024
10,570,559
16,249,999
26,820,558
Carrying amount
At 30 June 2024
10,570,559
16,249,999
26,820,558
ODEON (UK) PROPERTY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
- 6 -
3
Trade and other receivables
2024
£
Amounts falling due within one year:
Other receivables
60,578
4
Current liabilities
2024
£
Amounts owed to group undertakings
24,340
Other payables
55,649
79,989
5
Non-current liabilities
2024
£
Bank loan
15,835,356

The non-current loan totalling £15,835,356 is secured by a fixed and floating charge over all of the assets of the company.

6
Employees

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

2024
Number
Total
1
7
Related party transactions
Transactions with related parties

The company has taken advantage of the exemption available in accordance with Section 33.1A of Financial Reporting Standard 102 whereby it has not disclosed transactions entered into between two or more members of a group as the company is a wholly owned subsidiary undertaking of the group to which it is party to the transactions.

8
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
11,072,981
11,072,981
ODEON (UK) PROPERTY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
8
Called up share capital
(Continued)
- 7 -

On incorporation, the company issued 1 £1 Ordinary share at par.

 

On 13 December 2023, the company issued 2,725,000 £1 Ordinary shares at par.

 

On 14 March 2024, the company issued 1,362,500 £1 Ordinary shares at par.

 

On 11 June 2024, the company issued 6,935,480 £1 Ordinary shares at par.

 

On the same date, the company issued a further 50,000 £1 Ordinary shares at par.

2024-06-302023-09-26falsefalsefalse28 March 2025CCH SoftwareCCH Accounts Production 2024.310No description of principal activityD Bardiger151666902023-09-262024-06-30151666902024-06-3015166690core:CurrentFinancialInstrumentscore:WithinOneYear2024-06-3015166690core:Non-currentFinancialInstrumentscore:AfterOneYear2024-06-3015166690core:CurrentFinancialInstruments2024-06-3015166690core:ShareCapital2024-06-3015166690core:RetainedEarningsAccumulatedLosses2024-06-3015166690bus:Director12023-09-262024-06-3015166690core:Non-currentFinancialInstruments2024-06-3015166690core:WithinOneYear2024-06-3015166690bus:PrivateLimitedCompanyLtd2023-09-262024-06-3015166690bus:SmallCompaniesRegimeForAccounts2023-09-262024-06-3015166690bus:FRS1022023-09-262024-06-3015166690bus:AuditExemptWithAccountantsReport2023-09-262024-06-3015166690bus:FullAccounts2023-09-262024-06-30xbrli:purexbrli:sharesiso4217:GBP