ACCOUNTS - Final Accounts preparation

Registered number: 15478225

SIPARIO ENTERTAINMENT UK LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2024

SIPARIO ENTERTAINMENT UK LIMITED

REGISTERED NUMBER: 15478225

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024
Note		£


Current assets
Current asset investments	5	1,573
Cash at bank and in hand		3,318
		4,891
Creditors: amounts falling due within one year	6	(7,458)
Net current liabilities			(2,567)
Total assets less current liabilities			(2,567)

Net liabilities			(2,567)

Capital and reserves
Called up share capital			100
Profit and loss account			(2,667)
			(2,567)

The director considers 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 director acknowledges her 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 24 September 2025.

B Chiodo

Director

The notes on pages 2 to 5 form part of these financial statements.

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SIPARIO ENTERTAINMENT UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

1.	General information

Sipario Entertainment UK Limited is a private limited company registered in England and Wales. The address of its registered office address is 124 Finchley Road, London, NW3 5JS.

The company was incorporated on 10 February 2024 and began trading on this date.

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 company is showing net liabilities, at the reporting date. In order to continue trading it is dependent on the continued financial support of its director, B Chiodo who has confirmed her intention to continue to support the company for the foreseeable future.

On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result in the withdrawal of the aforementioned support.

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.

2.4

Revenue

Turnover 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. Turnover comprises revenue recognised by the company in respect of profit shares from theatrical productions exclusive of Value Added Tax.

2.5

Investment in theatre productions

Investment in theatre productions are carried forward at the lower of cost and estimated net realisable value.

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SIPARIO ENTERTAINMENT UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.6

Financial instruments

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 receivables, 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.

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 payables, 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.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

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SIPARIO ENTERTAINMENT UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

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.
Impairment of investment in theatre productions
The company makes an estimate of the recoverable value of the investment in theatre productions at the reporting date. Investment in theatre productions are impaired if the investment value exceeds the net realisable value.

Employees

The average monthly number of employees, including directors, during the period was 1.

5.	Current asset investments
		2024
		£

	Investment in theatre productions	1,573

6.	Creditors: Amounts falling due within one year
		2024
		£

	Amounts owed to group undertakings	1,802
	Other creditors	3,156
	Accruals and deferred income	2,500
		7,458

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SIPARIO ENTERTAINMENT UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

7.	Share capital
		2024
		£

		Allotted, called up and fully paid

		100 Ordinary Shares shares of £1.00 each	100

On Incorporation, the company allotted 100 ordinary shares of £1 each for cash at par.

Related party transactions

At the reporting date the company owed £3,156 to B Chiodo, the director. The balance was provided interest free and is repayable on demand.
The company is exempt from disclosing related party transactions with companies that are wholly owned within the group. 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

9.	Controlling party

The company's immediate parent and and controlling party is Sipario Entertainment LLC , a company incorporated in the United States of America.

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