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Registered number: 16006288 SOLO SAX LTD FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE PERIOD ENDED 4 APRIL 2026
SOLO SAX LTD STRATEGIC REPORT FOR THE PERIOD ENDED 4 APRIL 2026
Introduction
The directors present their strategic report for the period ended 4 April 2026.
Business review
The principal activity of the company is that of the production and management of the dramatic-musical work 'Miss Saigon' on tour. The production opened in Newcastle in October 2025 and has enjoyed an extremely successful year, playing the following cities across the UK and Republic of Ireland: Edinburgh, Manchester, Birmingham, Leeds, Oxford, Llandudno, Hull, Southampton, Plymouth, Aberdeen, Belfast and Nottingham. In the next financial period the production visits: Milton Keynes, Liverpool, Bradford, Norwich, Derry, Cardiff, Glasgow, Blackpool, Canterbury and Bristol before closing in Manchester in August 2026.
Principal risks and uncertainties
The principal activity of the company is that of the production of theatrical shows, is speculative by its nature and carries a degree of risk. Whilst there are many examples of theatrical shows that have not succeeded, there are also many examples of theatrical shows which have run for many years and been financially successful.
Financial key performance indicators
The board drives business performance through setting clearly defined budgets from which it derives key performance indicators, taking appropriate action where required to enhance the financial results of the business. The company considers its key performance indicators to be: ∙Show attendance and advance bookings figures and how they compare to budget ∙Operating margins and how they compare to budget ∙Overhead expenditure and how it compares to budget Financial risks The main financial risks arising from the company's activities are credit risk, interest rate risk and liquidity risk. The directors monitor these risks on an ongoing basis and do not consider them to be significant. The company's risk mitigation policy, in respect of credit risk, is to only deal with established reputable companies. The board does not consider this to be a significant risk. the company does not consider interest rate risk to be significant. The company hold its cash reserves in a mixture of short term deposits and current accounts which earn interest at a floating rate. The working capital requirements of the company are funded principally out of shareholder loans and cash reserves. Results and dividends The statement of comprehensive income shows the result for the period. Dividends of £Nil were paid during the period. The directors do not recommend the payment of a further dividend. This report was approved by the board on 5 August 2026 and signed on its behalf.
Michael Harrison Director
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SOLO SAX LTD REGISTERED NUMBER: 16006288 STATEMENT OF FINANCIAL POSITION AS AT 4 APRIL 2026
| 2026
Note | £
Current assets |  |
Production costs |  | 873,437
Debtors: amounts falling due within one year | 4 | 2,765,804
Cash at bank and in hand | 5 | 536,197
|  | 4,175,438
Creditors: amounts falling due within one year | 6 | (4,175,437)
Net assets |  | 1
Capital and reserves |  |
Called up share capital |  | 1
|  | 1
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 comprehensive income 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 5 August 2026.
Michael Harrison
Director
The notes on pages 4 to 7 form part of these financial statements. Page 2
SOLO SAX LTD STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 4 APRIL 2026
|  |  | 2026
|  |  | £
Profit for the financial period | -
Adjustments for: |
Tax credit | (1,153,464)
(Increase)/decrease in production costs | (873,437)
(Increase)/decrease in debtors | (1,612,340)
Increase in creditors | 2,855,437
Net cash generated from operating activities | (783,804)
Cash flows from financing activities |
Issue of ordinary shares | 1
Issue of production loans | 3,300,000
Repayment of production loans | (1,980,000)
Net cash used in financing activities | 1,320,001
Net increase in cash and cash equivalents | 536,197
Cash and cash equivalents at the end of period | 536,197
Cash and cash equivalents at the end of period comprise: |
Cash at bank and in hand | 536,197
| 536,197
The notes on pages 4 to 7 form part of these financial statements.
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SOLO SAX LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 4 APRIL 2026
1. | General information
Solo Sax Ltd is a private company limited by shares and incorporated in England & Wales. The address of the registered office is 187 Drury Lane, London, England, WC2B 5QD. The company produces the touring musical theatre production of Miss Saigon. The company was incorporated on 8 October 2024 and commenced trading from the same date. The financial statements are prepared to the period ended 4 April 2026. 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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and 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 meets its day to day working capital requirement through the utilisation of its own funds. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, after considering the continued financial support of the production stakeholders and the ongoing touring schedule. The company therefore continues to adopt the going concern basis in preparing its financial statements
| 2.3 | Functional and presentation currency
The company's functional and presentational currency is GBP.
| 2.4 | Revenue
Revenue relating to ticket sales is recognised at the end of the week in which the show is staged. Revenue is reported on all admissions and is exclusive of VAT. Revenue from the box office is reported as the amount received by the producer after the theatres have deducted relevant commission and banking charges. Other income is recognised in the period in which the income is earned. Income relating to performances that have taken place but which have not yet been received is recognised as accrued income. Amounts received before the related performance takes place are recognised as deferred income and released to the profit and loss account when the performance occurs. Page 4
SOLO SAX LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 4 APRIL 2026 2.Accounting policies (continued)
| 2.5 | Production costs
Production costs comprise all costs incurred in the staging of the theatrical production of Miss Saigon as part of the wider UK and Ireland tour. These costs are recognised in the Statement of Profit or Loss in the period the production commences. A proportion of pre-production costs incurred prior to the commencement of the tour is carried forward on the balance sheet as work in progress where those costs are directly attributable to future performances and are expected to generate economic benefits in the subsequent period. The amount deferred is determined based on the proportion of the tour remaining at the reporting date and is subsequently amortised to the Statement of Profit or Loss over the duration of the tour, reflecting the pattern in which those economic benefits are consumed.
| 2.6 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.7 | 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 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 and production costs. The tax credit comprises relief based on total net costs and an additional deduction for enhanceable expenditure and carries losses arising from total net cost forwards against future profits. Production tax credits are incentives provided to creative industries designed to promote culturally relevant productions in the UK, to incentivise investment into UK productions that would otherwise take place outside the UK, and to support the necessary critical mass of infrastructure and skills in the UK for both today and in the longer term.
| 2.8 | Debtors
Short-term debtor are measured at transaction price, less any impairment.
| 2.9 | 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.
| 2.10 | Creditors
Short-term creditors are measured at the transaction price Page 5
SOLO SAX LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 4 APRIL 2026
3. | Employees
| The average monthly number of employees, including directors, during the period was 26.
4. | Debtors
|  |  |  |  | 2026
|  |  |  |  | £
| Trade debtors | 822,628
| Other debtors | 1,153,464
| Prepayments and accrued income | 789,712
|  | 2,765,804
5. | Cash and cash equivalents
|  |  |  |  | 2026
|  |  |  |  | £
| Cash at bank and in hand | 536,197
|  | 536,197
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2026
|  |  |  |  | £
| Other loans | 1,320,000
| Trade creditors | 599,391
| Other taxation and social security | 67,520
| Other creditors | 10,310
| Accruals and deferred income | 2,178,216
|  | 4,175,437
| Included within accruals and deferred income are amounts due to related undertakings comprising producer fees payable to Cameron Mackintosh Limited of £463,997 and Michael Harrison Entertainment Limited of £42,182.
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SOLO SAX LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 4 APRIL 2026
7. | Related party transactions
| During the period, Michael Harrison Entertainment Limited, a shareholder of the company, provided production services to the company in relation to the Miss Saigon UK Tour. The total value of production recharges amounted to £265,256. Production fees of £42,182 were also charged during the period. At the balance sheet date, amounts of £90,182 were outstanding to Michael Harrison Entertainment Limited and included within short term creditors. These balances represent production funding provided to support the touring production of £48,000, and unpaid fees and royalties of £42,182. These balances are unsecured, interest free and repayable in accordance with the terms of the production arrangements. During the period, Cameron Mackintosh Limited, a shareholder of the company with directors in common, also provided production services for the Miss Saigon UK Tour. The total value of production recharges amounted to £63,762. Weekly management fees of £65,312, royalties of £20,100 and production fees of £463,997 were also charged during the period. At the period end, amounts of £1,001,897 were outstanding to Cameron Mackintosh Limited, comprising production funding balances of £528,000 and unpaid fees and royalties of £473,897. These balances represent production funding and related production costs and are unsecured, interest free and repayable in accordance with the terms of the production arrangements. All transactions were undertaken on terms agreed between the parties and are considered to be at an arm's length. There were no further related party transactions requiring disclosure at the period end.
8. | Auditors' information
The auditors' report on the financial statements for the period ended 4 April 2026 was unqualified. The audit report was signed on 6 August 2026 by Robert Maskey (senior statutory auditor) on behalf of Nyman Libson Paul LLP.
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