ACCOUNTS - Final Accounts preparation

SXSW London Limited

Registered number: 16034054

Information for filing with the Registrar

For the period ended 31 December 2025

16034054

31 December 2025

SXSW LONDON LIMITED

REGISTERED NUMBER: 16034054

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2025


		2025
Note		£


Current assets
Debtors: amounts falling due within one year	4	707,299
Cash and cash equivalents		64,291
		771,590
Creditors: amounts falling due within one year	5	(778,666)
Net current (liabilities)/assets			(7,076)
Total assets less current liabilities			(7,076)

Net (liabilities)/assets			(7,076)

Capital and reserves
Called up share capital	6	1
Profit and loss account	7	(7,077)
Total equity		(7,076)

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 by:

M C Hedegaard

Director

Date: 22 October 2026

The notes on pages 2 to 7 form part of these financial statements.

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16034054

31 December 2025

SXSW LONDON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

1.	General information

SXSW London Limited (the 'Company') is a private company limited by shares incorporated in England. The registered office of the Company is Second Floor, 67-71 Shoreditch High Street, London, England, E1 6JJ.
The Company was incorporated on 22 October 2024 and commenced trading on that date. On 3 March 2026, the Company extended its financial period from 31 October 2025 to 31 December 2025, to align with other group companies.
The Company’s principal activity is to facilitate contracting on behalf of Panarise Limited (“Panarise”) for commercial income streams, including with third party payment processors, in connection with an annual, multi-year, multi-day South by Southwest event in Europe (the “Festival”). This includes acting as a paying agent for Panarise in connection with the Festival; managing a UK bank account to collect funds from ticket sales and sponsorship relating to the Festival; and employing certain individuals on behalf of Panarise in connection with the Festival.

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 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 financial statements have been presented in Pound Sterling as this is the currency of the primary economic environment in which the Company operates and is rounded to the nearest pound.

The following principal accounting policies have been applied:

2.2

Going concern

The Company has a net liability position of £7,076. The Director prepares annual forecasts which show the Company to continue to meet liabilities when they fall due. Furthermore the parent company, the Panarae Partnership, has provided written support that they will help the Company to meet their liabilities as they become due for a period of at least 12 months from signing. The Director therefore considers it appropriate to continue to prepare the financial statements on a going concern basis.

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16034054

31 December 2025

SXSW LONDON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentation 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.

2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

Interest payable and similar expenses

Interest payable and similar expenses 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.

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16034054

31 December 2025

SXSW LONDON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.6

Current 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.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.10

Financial instruments

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 debtors due with the operating cycle fall into this category of financial instruments.

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16034054

31 December 2025

SXSW LONDON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.10

Financial instruments (continued)

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is 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 creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). 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 creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors 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.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Employees

The Company has no employees other than the Director, who did not receive any remuneration.

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16034054

31 December 2025

SXSW LONDON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

4.	Debtors: Amounts falling due within one year


					2025
					£


	Trade debtors	196,683
	Amounts owed by related parties	493,540
	Other debtors	13,069
	Prepayments and accrued income	4,007
		707,299

Amounts owed by related parties are unsecured, interest free and payable on demand.

5.	Creditors: Amounts falling due within one year

		2025
		£

	Corporation tax	12,352
	Other taxation and social security	357,342
	Accruals and deferred income	408,972
		778,666

6.	Share capital

		2025
		£

		Allotted, called up and fully paid

		1 Ordinary share of £1	1

On 22 October 2024, 1 Ordinary share was issued at par value.
Each ordinary share carries one vote and the right to participate equally in any distributions.

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16034054

31 December 2025

SXSW LONDON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

Reserves

Profit and loss account

The profit and loss account is made up of distributable reserves less any dividends paid.

8.	Related party transactions
	Exemption has been taken under paragraph 33.1A of FRS 102 not to disclose transactions between wholly owned group companies. At the period end, included within debtors was an amount of £493,540 due from a related party.

9.	Post balance sheet events

There have been no significant events affecting the Company since the period end.

10.	Parent company and controlling party

The Company is a wholly owned subsidiary of The Panarae Partnership Limited, a company incorporated in Jersey. The registered office of The Panarae Partnership Limited is Whiteley Chambers, Don Street, St. Helier, Jersey, JE2 4TR.

11.	Auditor's information

The auditor's report on the financial statements for the period ended 31 December 2025 was unqualified.

The audit report was signed on 22 October 2026 by Lucy Robinson (Senior Statutory Auditor) on behalf of PKF Smith Cooper Audit Limited.

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