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Registered number: 11897687 TPA MUSICAL LTD UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025
TPA MUSICAL LTD CONTENTS
| Page
Balance sheet | 1 - 2
Notes to the financial statements | 3 - 6
TPA MUSICAL LTD REGISTERED NUMBER: 11897687 BALANCE SHEET AS AT 31 MARCH 2025
|  | 31 March |  | 31 December
|  | 2025 |  | 2024
Note |  | £ |  | £
Current assets |  |  |  |  |
Work in progress | 4 | - |  | 132,499 |
Debtors: amounts falling due within one year | 5 | 363,516 |  | 86,372 |
Cash at bank and in hand | 6 | 2,011 |  | 28,843 |
|  | 365,527 |  | 247,714 |
Creditors: amounts falling due within one year | 7 | (1,287,751) |  | (440,177) |
Net current liabilities |  |  | (922,224) |  | (192,463)
Total assets less current liabilities |  |  | (922,224) |  | (192,463)
Net liabilities |  |  | (922,224) |  | (192,463)
Capital and reserves |  |  |  |  |
Called up share capital | 8 |  | 1 |  | 1
Profit and loss account |  |  | (922,225) |  | (192,464)
|  |  | (922,224) |  | (192,463)
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TPA MUSICAL LTD REGISTERED NUMBER: 11897687 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025 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 his 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 profit and loss account 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 by:
A W Lilley
Director
Date: 31 March 2026
The notes on pages 3 to 6 form part of these financial statements. 2
TPA MUSICAL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025
1. | General information
TPA Musical Ltd is a private company, limited by shares, registered in England and Wales, registration number 11897687. The registered office address is Hudson House, 8 Tavistock Street, London, WC2E 7PP. The principal activity of the company continued to be that of the production of theatre and musical entertainment. During the period, the company shortened its accounting reference date from 31 December 2025 to 31 March 2025. 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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The following principal accounting policies have been applied:
| 2.2 | Going concern
The financial statements have been prepared on the going concern basis as the parent company has confirmed to continue to provide necessary funding in order for the company to maintain operations and meet liabilities in full for at least the next 12 months. On this basis, the director is satisfied that the financial statements should be prepared on a going concern basis.
| 2.3 | Foreign currency translation
Functional and presentation currency The company's functional and presentational currency is pound sterling. 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. 3
TPA MUSICAL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.4 | 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 performance date.
| 2.5 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.6 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.7 | Pensions
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 Balance sheet. The assets of the plan are held separately from the company in independently administered funds.
| 2.8 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
| 2.9 | Work in progress
The direct costs incurred on theatrical productions are recorded as work in progress. These costs are transferred to the profit and loss account as the productions begin to generate revenue over their expected life cycle. This method ensures that the costs are matched with the related revenue, providing a true and fair view of the company's financial performance. 4
TPA MUSICAL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.10 | Debtors
Short term debtors are measured at transaction price, less any impairment.
| 2.11 | 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.
| 2.12 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.13 | Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
3. | Employees
| The average monthly number of employees, including the director, during the period was 1 (2024 - 1).
4. | Work in progress
|  |  |  |  | 31 March | 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Direct production costs | - | 132,499
5. | Debtors
|  |  |  |  | 31 March | 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed by group undertakings | 30,326 | 28,250
| Other debtors | 87,848 | 16,930
| Prepayments | 542 | -
| Corporation tax recoverable | 244,800 | 41,192
|  | 363,516 | 86,372
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TPA MUSICAL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025
6. | Cash and cash equivalents
|  |  |  |  | 31 March | 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 2,011 | 28,843
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 31 March | 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 132,734 | 37,724
| Other creditors | 1,113,534 | 399,108
| Accruals | 41,483 | 3,345
|  | 1,287,751 | 440,177
8. | Share capital
|  |  |  |  | 31 March | 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1 Ordinary share of £1.00 | 1 | 1
9. | Pension commitments
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £4,243 (2024 - £NIL). Contributions totalling £6,637 (2024 - £NIL) were payable to the fund at the balance sheet date and are included in creditors.
10. | Related party transactions
| No disclosure has been made of transactions with other wholly owned group companies in accordance with FRS 102 section 1A paragraph 1AC.35.
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