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Registered number: 14533655
TOHO PW PRODUCTIONS THEATRICALS 2024 LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024
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TOHO PW PRODUCTIONS THEATRICALS 2024 LIMITED
REGISTERED NUMBER: 14533655
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Net current assets/(liabilities)
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Total assets less current liabilities
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 July 2025.
The notes on pages 2 to 6 form part of these financial statements.
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TOHO PW PRODUCTIONS THEATRICALS 2024 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Toho PW Productions Theatrical 2024 Limited is a private company limited by shares and registered in England & Wales. The address of its registered office and principal place of business is 5th Floor, 114 St.Martin's Lane, London, United Kingdom, WC2N 4BE.
2.Accounting policies
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Basis of preparation of financial statements
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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:
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Functional and presentation currency
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The Company's functional and presentational currency is GBP, rounded to the nearest £.
Transactions and balances
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.
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 comprises box office sales received or receivable, net of commission, banking charges and value added tax. Turnover from the sale of theatre tickets is recognised on the date the performance takes place.
Revenue generated from the sale of merchandise is recognised on the date the sale takes place. Statements are received in arrears of the performance date, therefore an adjustment is made at the year end and income is accrued accordingly.
Interest income is recognised in profit or loss using the effective interest method.
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TOHO PW PRODUCTIONS THEATRICALS 2024 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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.
Tax is recognised in the Statement of Income and Retained Earnings. 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.
The company is eligible to claim a tax credit on theatre production costs. The tax credit comprises relief based on total net costs and an additional deduction for enhanceable expenditure. The company claims a payment based on the amount of enhanceable expenditure and carries losses arising from total net costs forward against future profits.
The company capitalises pre-production costs incurred subsequent to the opening of a new production to the extent that the directors have a reasonable belief that the production will recoup. All relevant expenditure is capitalised as pre-production costs and the company does not distinguish between the cost of physical assets, such as the set, and the development of broader aspects of the show, as the distinction is not useful and the expenditure is considered as a whole.
The amortisation period commenced from the date the production opened to the date the production closed. All production costs were written off during the year.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
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TOHO PW PRODUCTIONS THEATRICALS 2024 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Financial instruments (continued)
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Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the reporting date and the amounts reported for revenues and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those estimates.
Accruals
The company makes an estimate of accruals at the reporting date based on invoices received after the period end and work undertaken which has not been invoiced based on quotations or estimates of amounts that may be due for payment.
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The average monthly number of employees, including directors, during the year was 39 (2023 - 1).
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TOHO PW PRODUCTIONS THEATRICALS 2024 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
6.Debtors (continued)
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Accruals and deferred income
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Amounts owed to group undertakings are interest free and repayable on demand.
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TOHO PW PRODUCTIONS THEATRICALS 2024 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Allotted, called up and fully paid
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100 (2023 - 2) Ordinary shares of £1.00 each
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During the year the company allotted 98 Ordinary shares of £1 each for cash at par.
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Related party transactions
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At the reporting date the company owed P.W. Productions Limited, a shareholder, amounts totalling £nil (2023: £1,815,000). Included in accruals are amounts totalling £584,926 (2023: £nil).
At the reporting date the company owed Toho Co., Ltd. a shareholder, amounts totalling £2,927,383 (2023: £2,040,000). Included in accruals are amounts totalling £608,800 (2023: £nil).
The company has not entered into any other transactions with related parties that are material and that have not been concluded under normal market conditions.
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The ultimate parent company is Toho Co., Ltd. by virtue of its 51% ownership of the issued share capital of the company. Toho Co., Ltd. is the smallest and largest group to consolidate these financial statements. Copies of Toho Co., Ltd. consolidated financial statements can be obtained from 1-2-2 Yuraku-cho, Chiyoda-Ku, Tokyo, Japan, 100-8415.
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.
The audit report was signed on 10 July 2025 by Anthony Pins (Senior Statutory Auditor) on behalf of Nyman Libson Paul LLP.
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