ACCOUNTS - Final Accounts preparation

Cash and cash equivalents

Registered number: 14237727

42ND STREET 2023 LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 JULY 2024

42ND STREET 2023 LTD

REGISTERED NUMBER: 14237727

BALANCE SHEET

AS AT 31 JULY 2024

	31 July	30 July
	2024	2023
Note	£	£


Current assets
Debtors: amounts falling due within one year	4	1,121,438		1,532,982
Cash at bank and in hand	5	63,862		302,377
		1,185,300		1,835,359
Creditors: amounts falling due within one year	6	(1,185,296)		(2,132,343)
Net current assets/(liabilities)			4		(296,984)
Total assets less current liabilities			4		(296,984)

Net assets/(liabilities)			4		(296,984)

Capital and reserves
Called up share capital	4	4
Profit and loss account	-	(296,988)
	4	(296,984)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 9 September 2025.

D I Lane

Director

The notes on pages 3 to 5 form part of these financial statements.

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42ND STREET 2023 LTD

REGISTERED NUMBER: 14237727

BALANCE SHEET (CONTINUED)

AS AT 31 JULY 2024

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42ND STREET 2023 LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JULY 2024

1.	General information

42nd Street 2023 Limited is a private company limited by shares and registered in England & Wales. The address of its registered office is 45 Monmouth Street, London, England, WC2H 9DG.

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

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

2.3

Revenue

Turnover comprises the company's share, as producer, of admissions receipts after the theatres
have deducted their share, relevant commissions and banking charges. Revenue is recognised in the
period to which attendance occurs.

2.4

Interest income

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

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42ND STREET 2023 LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JULY 2024

2.Accounting policies (continued)

2.5

Taxation

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 enhanced expenditure and carries losses arising from total net costs forward against future profits.

2.6

Debtors

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

2.7

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.

2.8

Creditors

Short term creditors are measured at the transaction price, less any impairment.

Employees

The average monthly number of employees, including directors, during the period was 22 (2023 - 18).

Debtors

					31 July	30 July
					2024	2023
					£	£


Trade debtors	-	383,932
Other debtors	6,297	140,696
Prepayments and accrued income	-	96,291
Tax recoverable	1,115,141	912,063
	1,121,438	1,532,982

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42ND STREET 2023 LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JULY 2024

Cash at bank and in hand	63,862	302,377
	63,862	302,377

Trade creditors	32,979	458,801
Amounts owed to associates	858,701	1,103,146
Other taxation and social security	32,686	64,737
Other creditors	254,430	265,523
Accruals and deferred income	6,500	240,136
	1,185,296	2,132,343

Related party transactions

Other operating income includes negative £45,610 (2023: £474,686) in respect of non-returnable production funding provided by a company in which one of the directors is also a director. Cost of sales include fees and royalties totalling £238,772 (2023: £149,920) payable to companies in which the directors are also directors. At the reporting date, creditors include £572,467 (2023: £446,932) due to one of these companies.

8.	Controlling party

There was no ultimate controlling party throughout the period.

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