Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-30002023-10-01falseThe principal activity of the company is a producer of theatrical productions and a provider of theatre production financing.77truetruefalse 10814603 2023-10-01 2024-09-30 10814603 2022-10-01 2023-09-30 10814603 2024-09-30 10814603 2023-09-30 10814603 c:Director5 2023-10-01 2024-09-30 10814603 d:ComputerEquipment 2023-10-01 2024-09-30 10814603 d:ComputerEquipment 2024-09-30 10814603 d:ComputerEquipment 2023-09-30 10814603 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 10814603 d:CurrentFinancialInstruments 2024-09-30 10814603 d:CurrentFinancialInstruments 2023-09-30 10814603 d:CurrentFinancialInstruments 6 2024-09-30 10814603 d:CurrentFinancialInstruments 6 2023-09-30 10814603 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 10814603 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 10814603 d:ShareCapital 2024-09-30 10814603 d:ShareCapital 2023-09-30 10814603 d:SharePremium 2023-10-01 2024-09-30 10814603 d:SharePremium 2024-09-30 10814603 d:SharePremium 2023-09-30 10814603 d:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 10814603 d:RetainedEarningsAccumulatedLosses 2024-09-30 10814603 d:RetainedEarningsAccumulatedLosses 2023-09-30 10814603 c:OrdinaryShareClass1 2023-10-01 2024-09-30 10814603 c:OrdinaryShareClass1 2024-09-30 10814603 c:OrdinaryShareClass1 2023-09-30 10814603 c:OrdinaryShareClass2 2023-10-01 2024-09-30 10814603 c:OrdinaryShareClass2 2024-09-30 10814603 c:OrdinaryShareClass2 2023-09-30 10814603 c:OrdinaryShareClass3 2023-10-01 2024-09-30 10814603 c:OrdinaryShareClass3 2024-09-30 10814603 c:OrdinaryShareClass3 2023-09-30 10814603 c:FRS102 2023-10-01 2024-09-30 10814603 c:Audited 2023-10-01 2024-09-30 10814603 c:FullAccounts 2023-10-01 2024-09-30 10814603 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 10814603 c:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 10814603 2 2023-10-01 2024-09-30 10814603 f:PoundSterling 2023-10-01 2024-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10814603









PLAYING FIELD (THEATRE) LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
PLAYING FIELD (THEATRE) LIMITED
REGISTERED NUMBER: 10814603

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,179
-

  

Current assets
  

Debtors: amounts falling due within one year
 6 
842,483
521,804

Current asset investments
 7 
10,609,016
9,175,462

Cash at bank and in hand
  
57,501
473,892

  
11,509,000
10,171,158

Creditors: amounts falling due within one year
 8 
(4,008,764)
(2,821,867)

Net current assets
  
 
 
7,500,236
 
 
7,349,291

Net assets
  
7,501,415
7,349,291


Capital and reserves
  

Called up share capital 
 9 
5,161
4,974

Share premium account
 10 
13,818,221
13,297,181

Profit and loss account
 10 
(6,321,967)
(5,952,864)

  
7,501,415
7,349,291


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 comprehensive income 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 17 July 2025.




Ms L Popham
Director

The notes on pages 2 to 9 form part of these financial statements.

Page 1

 
PLAYING FIELD (THEATRE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Playing Field (Theatre) Limited is a private company limited by shares incorporated in England and Wales. 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

The financial statements have been prepared on a going concern basis which assumes that the company will be able to meet its liabilities as they fall due. In the opinion of the directors, the going concern basis is appropriate as the company has received adequate assurances from various individuals and organisations to continue funding the company for the foreseeable future.
Existing funding facilities, forecasts and projections indicate that the company has adequate resources to continue. On review of the grants and funding, the company has sufficient funds to continue for the foreseeable future.

 
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.

Page 2

 
PLAYING FIELD (THEATRE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 
Turnover comprises of revenue recognised by the company in respect of management fees, royalties and its share of profits from its investments in theatrical productions receivable for the reporting period, after recoupment of investment in the show. If the investment is unrecouped at the year end, the company's share of the show's profit is offset against the investment, with no operating profit recognised in the profit and loss account.
 

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

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 statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

Page 3

 
PLAYING FIELD (THEATRE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


  
2.9

Investments in theatrical productions

Investments in theatrical productions are recognised at the recoupable amount at the balance sheet date being the amount invested less amounts recovered and provision for losses where recovery ofoutstanding investments in full is not anticipated.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
PLAYING FIELD (THEATRE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

  
2.11

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties and loans to/from related parties.

 
2.12

Debtors

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

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

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.

 
2.14

Creditors

Short-term creditors are measured at the transaction price


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgments, 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.
Investments in productions
Investment in productions are impaired taking into consideration the expected return from the show, based on future estimated box office receipts and running costs and the estimated life of the production. However, there is a certain degree of judgment involved which calls on the expertise and experience of management.


4.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 7).

Page 5

 
PLAYING FIELD (THEATRE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Tangible fixed assets





Computer equipment

£



Cost or valuation


Additions
1,769



At 30 September 2024

1,769



Depreciation


Charge for the year on owned assets
590



At 30 September 2024

590



Net book value



At 30 September 2024
1,179



At 30 September 2023
-

Page 6

 
PLAYING FIELD (THEATRE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Debtors

2024
2023
£
£


Other debtors
136,986
150,227

Prepayments and accrued income
705,497
371,577

842,483
521,804



7.


Current asset investments

2024
2023
£
£

Investments in theatrical productions
10,609,016
9,175,462



Analysis of investments in theatrical productions

2024
£



As at 1 October 2023
9,175,462

Add: additional investments
5,381,296

Less: Recoupments
(3,609,840)

Less: investments written off
(337,902)

As at 30 September 2024
10,609,016

Page 7

 
PLAYING FIELD (THEATRE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
3,806,641
2,221,930

Trade creditors
72,821
5,905

Taxation and social security
24,225
3,582

Other creditors
-
1,451

Accruals and deferred income
105,077
188,999

Convertible loan notes
-
400,000

4,008,764
2,821,867


Other loans comprise unsecured short-term funding in relation to investments in specific theatrical productions.
Convertible loan notes are unsecured, fixed-rate instruments that are interest-free and payable upon conversion or redemption. As of the reporting date, no convertible loan notes remain outstanding.


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



4,169,000 (2023 - 4,059,000) Ordinary A shares of £0.001 each
4,169
4,059
423,000 (2023 - 423,000) Ordinary B shares of £0.001 each
423
423
569,002 (2023 - 492,000) Ordinary C shares of £0.001 each
569
492

5,161

4,974


During the year, 110,000 Ordinary A shares and 77,000 Ordinary C shares were were issued during the year.


10.


Reserves

Share premium account

The share premium account comprises any premiums received on the issue of share capital net of cost relating to issue of these shares.

Profit and loss account

The profit and loss account comprises distributable reserves.

Page 8

 
PLAYING FIELD (THEATRE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

11.


Capital commitments


At 30 September 2024 the company had capital commitments as follows:

2024
2023
£
£


Future committed payments for various productions
600,000
1,529,198


12.


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 4,039 (2023 - £Nil). Contributions totalling £28,498 (2023 - £30,472) were payable to the fund at the reporting date and are included in creditors.


13.


Related party transactions

During the period the company received short terms funding in relation to investments in specific theatrical production totalling £1,128,404 (2023: £568,775) from its directors. The balance is repayable when the amounts invested have been recouped together with a proportionate share of profits received from this theatrical production. No interest is payable on this short-term funding.
At the reporting date, the company owed its directors of £410,001 and paid interest totalling £87,522.


14.


Auditors' information

The auditors' report on the financial statements for the year ended 30 September 2024 was unqualified.

The audit report was signed on 21 July 2025 by Robert Maskey (senior statutory auditor) on behalf of Nyman Libson Paul LLP.

 
Page 9