JB UK Touring III Investment Limited
Unaudited Financial Statements
For the year ended 31 December 2024
Pages for Filing with Registrar
Company Registration No. 13481195 (England and Wales)
JB UK Touring III Investment Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
JB UK Touring III Investment Limited
Balance Sheet
As at 31 December 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
126,451
126,020
Current assets
-
-
Creditors: amounts falling due within one year
5
(126,351)
(125,920)
Net current liabilities
(126,351)
(125,920)
Net assets
100
100
Capital and reserves
-
-
Called up share capital
6
100
100
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 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 members have not required the company to obtain an audit of its financial statements for the year 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 11 August 2025
E Strong
Director
Company Registration No. 13481195
JB UK Touring III Investment Limited
Notes to the Financial Statements
For the year ended 31 December 2024
Page 2
1
Accounting policies
Company information
JB UK Touring III Investment Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor Charlotte Building, 17 Gresse Street, London, W1T 1QL.
1.1
Reporting period
In the previous financial period, the company prepared financial statements from 2 January 2023 to 31 December 2023 therefore the comparative figures are not directly comparable.
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 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
The company was formed to invest in the UK touring production of Jersey Boys, which opened in November 2021 and closed in May 2023.
Following the closure the tour the company has ceased to trade and the directors intend to wind up the company in due course. On that basis the accounts have been prepared on a basis other than that of a going concern.
The company is financed by non-recourse loans which are only repayable up to the value of the net assets of the company and the timing of any repayments is at the reasonable discretion of the director taking into account the working capital requirements of the business. Since the accounts are being prepared on a basis other than that of a going concern these loans have been written back to the extent that the company does not have sufficient assets to repay the principal. Amounts recoverable in respect of the company's investment in the production have also been written down to their recoverable amount. No other adjustments were required as a result of the change of basis of preparation.
1.4
Fixed asset 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 profit or loss.
Investment in theatrical productions consist of non-recourse loans advanced to a production which are repayable out of the profit of the production. These investments are initially measured at fair value which is normally the transaction price. In general fair values subsequent to initial investment cannot be measured reliably so investments in theatrical productions are subsequently measured at cost less impairment.
JB UK Touring III Investment Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 3
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.
1.6
Financial instruments
The company has only basic financial instruments measured at amortised cost, with no financial instruments classified as other, or basic instruments measured at fair value.
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.
1.8
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.
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.
1.9
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
Employees
The average monthly number of persons (including directors) employed by the company during the year was 0 (2023: 0).
JB UK Touring III Investment Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 4
3
Fixed asset investments
2024
2023
£
£
Investments in subsidiaries
100
100
Investment in theatrical productions
126,351
125,920
126,451
126,020
Movements in fixed asset investments
Shares in subsidiaries
Investment in theatrical productions
Total
£
£
£
Cost or valuation
At 1 January 2024 & 31 December 2024
100
175,613
175,713
Impairment
At 1 January 2024
-
49,693
49,693
Impairment loss reversals
-
(431)
(431)
At 31 December 2024
-
49,262
49,262
Carrying amount
At 31 December 2024
100
126,351
126,451
At 31 December 2023
100
125,920
126,020
JB UK Touring III Investment Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 5
4
Subsidiaries
Details of the company's subsidiaries at 31 December 2024 are as follows:
Name of undertaking
Address
Class of
% Held
shares held
Direct
JB UK Tour III Productions Limited
1
Ordinary
100.00
Registered office addresses (all UK unless otherwise indicated):
1
6th Floor Charlotte Building, 17 Gresse Street, London, W1T 1QL
5
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
82,013
81,726
Corporation tax
3,426
3,426
Other creditors
40,912
40,768
126,351
125,920
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
100 Ordinary Share of £1 was issued on incorporation.
7
Parent company
The immediate parent company is JB UK Tour Investor LLC, a company registered in the USA with registered address c/o Dodger Theatricals Ltd., 311 West 43rd Street, New York, NY 10036, by virtue of its ownership of 100% of the issued share capital in the company.
There is no ultimate controlling party.