JB UK Tour III Productions Limited
Unaudited Financial Statements
For the year ended 31 December 2024
Pages for Filing with Registrar
Company Registration No. 13483798 (England and Wales)
JB UK Tour III Productions Limited
Contents
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
JB UK Tour III Productions Limited
Balance Sheet
As at 31 December 2024
Page 1
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
5,198
38,461
Cash at bank and in hand
178,895
192,198
184,093
230,659
Creditors: amounts falling due within one year
5
(183,993)
(230,559)
Net current 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 M Strong
Director
Company Registration No. 13483798
JB UK Tour III Productions Limited
Statement of Changes in Equity
For the year ended 31 December 2024
Page 2
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 2 January 2023
100
(200,583)
(200,483)
Period ended 31 December 2023:
Profit and total comprehensive income for the period
-
200,583
200,583
Balance at 31 December 2023
100
100
Year ended 31 December 2024:
Profit and total comprehensive income for the year
-
Balance at 31 December 2024
100
100
JB UK Tour III Productions Limited
Notes to the Financial Statements
For the year ended 31 December 2024
Page 3
1
Accounting policies
Company information
JB UK Tour III Productions 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
The company has operated a weekly accounting calendar. These financial statements cover the 12-month period ending on 31 December 2024, the comparative figures were prepared for the 52-week period from 2 January 2023 to 31 December 2023.
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.
1.3
Going concern
The company producetrued 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 in the previous financial period to the extent that the company does not have sufficient assets to repay the principle. No other adjustments were required as a result of the basis of preparation.
1.4
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from theatrical productions is recognised by reference to the date the performance took place.
JB UK Tour III Productions Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 4
1.5
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.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
The company capitalises pre-production development costs incurred subsequent to the green-lighting of a new production to the extent that the directors have a reasonable belief that the production will recoup. Costs capitalised exclude marketing and promotional expenditure incurred in relation to the production. All relevant development expenditure is capitalised within intangible assets 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.
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 bases:
Pre-production costs
Over the life of the production *
* The amortisation period commences from the date of opening of the production. The estimated life of the production is under continual re-assessment, with the impact of any changes to the estimated life on the amortisation period being accounted for prospectively.
1.6
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.
1.7
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.
1.8
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.
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.
JB UK Tour III Productions Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
Page 5
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.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.12
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:
2024
2023
Number
Number
Total
17
JB UK Tour III Productions Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 6
3
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
370
(5,168)
Deferred tax
Origination and reversal of timing differences
994
Total tax charge/(credit)
1,364
(5,168)
The current tax figure includes the effect of Theatre Tax Relief credits (introduced in the Finance Act 2014) payable to the company that have arisen from expenditure on theatrical production.
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
5,168
Other debtors
5,198
32,301
5,198
37,469
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
992
Total debtors
5,198
38,461
JB UK Tour III Productions Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2024
Page 7
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,287
Amounts owed to group undertakings
126,351
125,773
Corporation tax
370
Other creditors
42,151
41,958
Accruals and deferred income
15,121
59,541
183,993
230,559
Within amounts owed to group and other creditors is a total of £168,502 (2023: £167,731) relating to investor capital loans. Investor capital loans are repayable to the extent of the assets available to the company. Investors are entitled to a return on their investment equal to a fixed percentage of the post recoupment profit of the production.
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 Shares of £1 were issued on incorporation.
7
Related party transactions
During the year the company made purchases of £Nil (2023: £150,984) from Dodger UK Productions Limited (Formerly JB UK Touring Limited), a company with common directorship.
Taking advantage of the related parties exemption under section 33.1A of FRS 102, the company has not disclosed transactions with its wholly owning parent.
8
Parent company
The immediate parent company is JB UK Touring III Investment Limited, a company registered in England and Wales with registered address of 6th Floor Charlotte Building, 17 Gresse Street, London, W1T 1QL, by virtue of its ownership of 100% of the issued share capital in the company.
There is no ultimate controlling party.