Company registration number 04737651 (England and Wales)
MCINTYRE ENTERTAINMENTS GROUP LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
MCINTYRE ENTERTAINMENTS GROUP LIMITED
COMPANY INFORMATION
Director
Mr P C McIntyre
Secretary
Mr J P McIntyre
Company number
04737651
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
MCINTYRE ENTERTAINMENTS GROUP LIMITED
CONTENTS
Page
Strategic report
1
Director's report
2
Director's 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 - 19
MCINTYRE ENTERTAINMENTS GROUP LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024
- 1 -
The director presents the strategic report for the year ended 30 June 2024.
Review of the business
The company reported pleasing operating results for the year, which are set out on page 7. The company has made a retained profit of £36,583 after distributions to the immediate parent company (2023: £82,207), which is the company's principal financial key performance indicator. The director believes that the company will continue to show a retained profit in the future.
The company has net assets of £670,299 (2023: £633,716) and cash holdings at the balance sheet date of £1,515,156 (2023: £13,795,278).
The company is also an intermediate parent company in the group headed by Phil McIntyre Holdings Limited. The performance and activity of the group are detailed in the Strategic Report of Phil McIntyre Holdings Limited that is found within the consolidated financial statements of the group as a whole at 30 June 2024. These can be obtained from Companies House.
The director is pleased with the performance of the company during the year and believes it is well placed to generate further income from its assets in the upcoming financial year.
Principal risks and uncertainties
All group risks are managed at the ultimate parent level and are detailed in the Strategic Report of Phil McIntyre Holdings Limited as noted above.
The principal risk affecting the company is that its Performance Rights do not generate future royalty income.
Mr P C McIntyre
Director
26 March 2025
MCINTYRE ENTERTAINMENTS GROUP LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
The director presents his annual report and financial statements for the year ended 30 June 2024.
Principal activities
The principal activity of the company during the year was that of the exploitation of intellectual property rights.
Results and dividends
The results for the year are set out on page 7.
Ordinary dividends were paid amounting to £1,250,000. The director does not recommend payment of a further dividend.
Director
The director who held office during the year and up to the date of signature of the financial statements was as follows:
Mr P C McIntyre
Auditor
The auditor, Wallwork Nelson & Johnson, is deemed to be reappointed under section 487(2) of the Companies Act 2006.
Energy and carbon report
As the majority of the use of energy in live performances is under the control of the venues and sub-contractors, and the company's and group’s own use of energy is immaterial, no disclosure is made in this regard.
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.
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 financial instruments.
On behalf of the board
Mr P C McIntyre
Director
26 March 2025
MCINTYRE ENTERTAINMENTS GROUP LIMITED
DIRECTOR'S RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
The director is responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is 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. He is 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.
MCINTYRE ENTERTAINMENTS GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF MCINTYRE ENTERTAINMENTS GROUP LIMITED
- 4 -
Opinion
We have audited the financial statements of McIntyre Entertainments Group 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:
give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
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 director's 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 director with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The director is 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.
MCINTYRE ENTERTAINMENTS GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF MCINTYRE ENTERTAINMENTS GROUP 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:
the information given in the strategic report and the director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the director's report have been prepared in accordance with applicable legal requirements.
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 director's 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:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
Responsibilities of director
As explained more fully in the director's responsibilities statement, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has 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:
Enquiries with management, about any known or suspected instances of non-compliance with laws and regulations and fraud;
Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness; and
Reviewed the systems for recording revenue and reconcile dividend and royalty income received to the records of fellow group companies, to ensure income has been recognised completely and in the correct financial year.
Because of the field in which the client operates, we identified the following areas as being most likely to have a material impact on the financial statements: compliance with the UK Companies Act.
MCINTYRE ENTERTAINMENTS GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF MCINTYRE ENTERTAINMENTS GROUP 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.
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
MCINTYRE ENTERTAINMENTS GROUP LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
2024
2023
Notes
£
£
Turnover
3
280
634
Cost of sales
(189,067)
Gross (loss)/profit
(188,787)
634
Administrative expenses
(71,095)
(11,802)
Operating loss
4
(259,882)
(11,168)
Interest receivable and similar income
7
1,547,960
3,718,492
Interest payable and similar expenses
8
(117)
Profit before taxation
1,288,078
3,707,207
Tax on profit
9
(1,495)
Profit for the financial year
1,286,583
3,707,207
Retained earnings brought forward
633,515
551,308
Dividends
10
(1,250,000)
(3,625,000)
Retained earnings carried forward
670,098
633,515
The statement of comprehensive income has been prepared on the basis that all operations are continuing operations.
MCINTYRE ENTERTAINMENTS GROUP LIMITED
BALANCE SHEET
- 8 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
12
818
714
Current assets
Debtors
15
351,982
288,303
Cash at bank and in hand
1,515,156
13,795,278
1,867,138
14,083,581
Creditors: amounts falling due within one year
16
(1,197,657)
(13,450,579)
Net current assets
669,481
633,002
Net assets
670,299
633,716
Capital and reserves
Called up share capital
18
201
201
Profit and loss reserves
670,098
633,515
Total equity
670,299
633,716
The financial statements were approved and signed by the director and authorised for issue on 26 March 2025
Mr P C McIntyre
Director
Company registration number 04737651 (England and Wales)
MCINTYRE ENTERTAINMENTS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 9 -
1
Accounting policies
Company information
McIntyre Entertainments Group 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:
Section 7 ‘Statement of Cash Flows’ – Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’ – Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
Section 33 ‘Related Party Disclosures’ – Compensation for key management personnel.
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.
The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.
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 shown in the profit and loss account represents royalties receivable which are recognised in the period to which they relate.
MCINTYRE ENTERTAINMENTS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 10 -
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:
Performance rights
Straight line over the period the rights are held
1.5
Fixed asset investments
Interests in subsidiaries 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 profit or loss.
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.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.6
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.
1.7
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 costs. Financial assets classified as receivable within one year are not amortised.
Other financial assets
All of the company's financial assets are basic financial instruments.
MCINTYRE ENTERTAINMENTS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 11 -
Impairment of financial assets
Financial assets, 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.
Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies, 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
All of the company's financial liabilities are basic financial instruments.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
1.8
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.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
MCINTYRE ENTERTAINMENTS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 12 -
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.
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.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is 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.
Key sources of estimation uncertainty
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 assessment of intangible assets
Management have adopted the useful economic lives of the intangible assets as stated in any agreements held. At each balance sheet date management review whether this is still appropriate, based on the income generated in the year and anticipated future income, and assess whether any of the intangible assets are impaired.
3
Turnover and other revenue
An analysis of the company's turnover is as follows:
2024
2023
£
£
Turnover analysed by class of business
Attributable to principal activities
280
634
2024
2023
£
£
Turnover analysed by geographical market
United Kingdom
280
634
MCINTYRE ENTERTAINMENTS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
3
Turnover and other revenue
(Continued)
- 13 -
2024
2023
£
£
Other revenue
Interest income
97,960
93,492
Dividends received
1,450,000
3,625,000
4
Operating loss
2024
2023
Operating loss for the year is stated after charging:
£
£
Amortisation of intangible assets
-
1
5
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
2,300
Audit fees are now being borne by a fellow group company.
6
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Director
1
1
7
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
97,960
93,492
Income from fixed asset investments
Income from shares in group undertakings
1,450,000
3,625,000
Total income
1,547,960
3,718,492
MCINTYRE ENTERTAINMENTS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 14 -
8
Interest payable and similar expenses
2024
2023
£
£
Interest on bank overdrafts and loans
-
117
9
Taxation
2024
2023
£
£
Deferred tax
Origination and reversal of timing differences
1,495
The actual 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
1,288,078
3,707,207
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 20.50%)
322,020
759,825
Tax effect of expenses that are not deductible in determining taxable profit
1,616
Group relief
40,359
(16,849)
Dividend income
(362,500)
(742,976)
Taxation charge for the year
1,495
-
10
Dividends
2024
2023
£
£
Final paid
1,250,000
3,625,000
MCINTYRE ENTERTAINMENTS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 15 -
11
Intangible fixed assets
Performance rights
£
Cost
At 1 July 2023 and 30 June 2024
510,166
Amortisation and impairment
At 1 July 2023 and 30 June 2024
510,166
Carrying amount
At 30 June 2024
At 30 June 2023
12
Fixed asset investments
2024
2023
Notes
£
£
Investments in subsidiaries
13
817
713
Investments in joint ventures
14
1
1
818
714
Movements in fixed asset investments
Shares in subsidiaries and joint ventures
£
Cost or valuation
At 1 July 2023
714
Additions
104
At 30 June 2024
818
Carrying amount
At 30 June 2024
818
At 30 June 2023
714
MCINTYRE ENTERTAINMENTS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 16 -
13
Subsidiaries
These financial statements are separate company financial statements for McIntyre Entertainments Group Limited.
Details of the company's subsidiaries at 30 June 2024 are as follows:
Name of undertaking
Address
Class of
% Held
shares held
Direct
OFAH West End Limited
1
Ordinary
100.00
Operatives Services & Solutions Limited
1
Ordinary
100.00
Phil Mcintyre Entertainments Limited
1
Ordinary
100.00
Phil McIntyre Live Limited
1
Ordinary
100.00
Phil McIntyre Management Limited
1
Ordinary
100.00
Phil McIntyre Management Services Limited
1
Ordinary
100.00
Phil McIntyre TV Limited
1
Ordinary
100.00
PME Edinburgh Live Limited
1
Ordinary
100.00
PME Live Limited
1
Ordinary
100.00
Strictly Ballroom The Tour Limited
1
Ordinary
100.00
The Commitments London Limited
1
Ordinary
100.00
The Commitments The Tour Limited
1
Ordinary
100.00
Two Pints Touring Limited
1
Ordinary
100.00
WWRY Production Limited
1
Ordinary
100.00
Fawdinex Limited
1
Ordinary
100.00
Cushtydinex Limited
1
Ordinary
100.00
MDESA Limited
1
Ordinary
100.00
WWRY Tour 2019/20 Limited
1
Ordinary
100.00
Technical Services & Solutions Limited
1
Ordinary
100.00
The Commitments Touring 2022 Limited
1
Ordinary
100.00
Fawlty Towers Stage Show Limited
1
Ordinary
100.00
OFAH Tour Limited
1
Ordinary
100.00
McIntyre Stage Productions Ltd
1
Ordinary
100.00
McIntyre Onstage Limited
1
Ordinary
100.00
McIntyre WELOB Ltd
1
Ordinary
100.00
Registered office addresses (all UK):
1
15 Riversway Business Village, Navigation Way, Ashton-on-Ribble, Preston, PR2 2YP
14
Joint ventures
Details of the company's joint ventures at 30 June 2024 are as follows:
Name of undertaking
Registered office
Interest
% Held
held
Direct
McIntyre Ian MM Ltd
1
Ordinary
50.00
Registered office addresses (all UK):
1 15 Riversway Business Village, Navigation Way, Ashton-on-Ribble, Preston, PR2 2YP
MCINTYRE ENTERTAINMENTS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 17 -
15
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by undertakings in which the company has a participating interest
249,999
249,999
Other debtors
1,424
Prepayments and accrued income
93,750
30,000
345,173
279,999
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset (note 17)
6,809
8,304
Total debtors
351,982
288,303
16
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
210,000
238,922
Amounts owed to group undertakings
987,657
13,198,367
Taxation and social security
607
Other creditors
2,183
Accruals and deferred income
10,500
1,197,657
13,450,579
17
Deferred taxation
Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:
Assets
Assets
2024
2023
Balances:
£
£
Decelerated capital allowances
6,809
8,304
MCINTYRE ENTERTAINMENTS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
17
Deferred taxation
(Continued)
- 18 -
2024
Movements in the year:
£
Asset at 1 July 2023
(8,304)
Charge to profit or loss
1,495
Asset at 30 June 2024
(6,809)
The deferred tax balance above is not expected to fully unwind in the next 12 months.
18
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
201
201
201
201
19
Financial commitments, guarantees and contingent liabilities
A cross-company unlimited guarantee is in place in favour of Natwest between the company, Phil McIntyre Management Limited, Phil McIntyre TV Limited, Phil McIntyre Management Services Limited, Phil McIntyre Entertainments Limited, PME Live Limited, PMP (Theatre Productions) Limited and Operatives Services & Solutions Limited.
At the balance sheet date, group borrowings payable to Natwest Bank Plc totalled £607,169.
20
Related party transactions
Balances with related parties
The following amounts were outstanding at the reporting end date:
Category
Amounts owed by
Amounts owed to
related parties
related parties
2024
2023
2024
2023
£
£
£
£
Entities over which the entity has control, joint control or significant influence
249,999
249,999
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.
MCINTYRE ENTERTAINMENTS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 19 -
21
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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