TAKE 22 LIMITED


Directors	S A P Friedman
	J F Johnson
	S Wagner


Registered Address	7 Savoy Court
	London
	WC2R 0EX


Registered Number	16207397 (England and Wales)

Notes to the Financial Statements
for the period ended 31 December 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities. The company has taken the following exemptions under the small companies regime: The requirements of Section 4 Statement of Financial Position paragraph 4.12(a)(iv). The requirements of Section 7 Statement of Cash Flows and Section 3 Financial Statement Presentation paragraph 3.17(d) The requirements of Section 11 paragraphs 11.39 to 11.48A and Section 12 paragraphs 12.26 to 12.29A.

Statement of compliance

The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

The company has taken the following exemptions under the small companies regime:					
The requirements of Section 4 Statement of Financial Position paragraph 4.12(a)(iv).				
The requirements of Section 7 Statement of Cash Flows and Section 3 Financial Statement Presentation paragraph 3.17(d)       		
The requirements of Section 11 paragraphs 11.39 to 11.48A and Section 12 paragraphs 12.26 to 12.29A.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The principal accounting policies adopted are set out below.

	Functional and presentation currency
	The financial statements are presented in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

	Going concern
	At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing its financial statements.

	Turnover policy
	Turnover is measured 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 discounts, value added taxes and other sales related taxes. 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.

Turnover policy

Turnover is measured 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 discounts, value added taxes and other sales related taxes.

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.

	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.

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.

	Defined contribution pension plan
	Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

	Foreign currency translation
	Transactions in currencies other than pound sterling are initially recorded at the rate of exchange prevailing at the dates of the transactions. At each reporting date, foreign currency monetary assets and liabilities 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.

	Current taxation
	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.

Current taxation

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.

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.

	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.

	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.

	Share capital
	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.

2.	Average number of employees
	The average monthly number of persons (including directors) employed by the company during the period was:


		2025
	Average number of employees during the year	17

3.	Debtors: amounts due within one year

		2025
		£
	Trade debtors / trade receivables	1,394
	Amounts owed by group undertakings	1,044
	Other debtors	596,656
	Prepayments and accrued income	1,234
	Total	600,328


	Included within other debtors is an amount of £582,609 which the Company is claiming through theatre tax relief.

4.	Creditors: amounts due within one year

		2025
		£
	Trade creditors / trade payables	12,383
	Taxation and social security	145,674
	Other creditors	1,392,757
	Accrued liabilities and deferred income	58,256
	Total	1,609,070

5.	Share capital
	1 Ordinary Share of £1 1 Ordinary Share of £1 was issued on incorporation

6.	Events after reporting date
	There have been no significant events affecting the Company since the year end.

7.	Related party transactions
	The company has taken the exemption set out in Section 33 paragraph 33.1A of FRS 102 not to disclose related party transactions between wholly-owned group members. Sonia Friedman Productions Limited: A company with common directorships During the financial period, the company made purchases of £575,342 from, and sales of £306 to Sonia Friedman Productions Limited. At the year end £1,889 was owed to Sonia Friedman Productions Limited. SFP Projects Ltd: A company with common directorships During the financial period, the company made sales of £139 to SFP Projects Ltd. At the year end £0 was owed by SFP Projects Ltd. Columbia Calling Inc: A company with common directorships During the financial period, the company made purchases of £67,311 from Columbia Calling Inc. At the year end £0 was owed to Columbia Calling Inc. Wagner Johnson Productions LLC: A company with common directorships During the financial period, the company made purchases of £57,050 from Wagner Johnson Productions LLC. At the year end £0 was owed to Wagner Johnson Productions LLC.

Related party transactions

The company has taken the exemption set out in Section 33 paragraph 33.1A of FRS 102 not to disclose related party transactions between wholly-owned group members.								
								
Sonia Friedman Productions Limited:								
A company with common directorships								
During the financial period, the company made purchases of £575,342 from, and sales of £306 to Sonia Friedman Productions Limited. At the year end £1,889 was owed to Sonia Friedman Productions Limited.								
								
SFP Projects Ltd:								
A company with common directorships								
During the financial period, the company made sales of £139 to SFP Projects Ltd. At the year end £0 was owed by SFP Projects Ltd.								
								
Columbia Calling Inc:								
A company with common directorships								
During the financial period, the company made purchases of £67,311 from Columbia Calling Inc. At the year end £0 was owed to Columbia Calling Inc.								
								
Wagner Johnson Productions LLC:							
A company with common directorships								
During the financial period, the company made purchases of £57,050 from Wagner Johnson Productions LLC. At the year end £0 was owed to Wagner Johnson Productions LLC.

8.	Controlling party
	The immediate parent company is Campfire Masquerade Limited, a company incorporated in England and Wales. The company's registered office is 7 Savoy Court, London, WC2R 0EX. The ultimate parent company is Stereophonic UK LLC, a company incorporated in the USA. There is no ultimate controlling party.

9.	Change in reporting period and impact on comparability
	The company was incorporated on 24th January 2025. The reporting period date of 31 December has been chosen to align with reporting requirements of the parent company.

	Notes	2025
		£	£
Current assets
Debtors	3	600,328
Cash at bank and on hand		1,008,743
		1,609,071
Creditors amounts falling due within one year	4	(1,609,070)
Net current assets (liabilities)			1
Total assets less current liabilities			1
Net assets			1
Capital and reserves
Called up share capital			1
Shareholders' funds			1