For the financial period ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Kyoto Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o 6th Floor Charlotte Building, 17 Gresse Street, London, United Kingdom, W1T 1QL.

The accounting year end of the company and the financial statements have been prepared for the period 28 November 2024 to 31 December 2025 on the basis that this is the first period since the company's incorporation on 28 November 2024.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

At the balance sheet date, the company had net liabilities of £91,693. Included within liabilities are non-recourse loans amounting to £true607,706. These loans are repayable only to the extent that the company receives returns of capital or profit distributions from the theatrical productions in which it has invested. The directors have considered the company’s financial position, the nature and terms of these non-recourse loan arrangements, the expected receipts from the investment portfolio and the company’s forecast cash requirements for a period of at least 12 months from the date of approval of the financial statements. As repayment of the non-recourse loans is dependent on future investment returns and limited to the amounts received, the directors have a reasonable expectation that the company will be able to meet its liabilities as they fall due and consider it appropriate to prepare the financial statements on the going concern basis.

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.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

The company invests in theatrical productions generally by way of non-recourse loans. These loans are

repayable out of the running profits and other income of the production, with the timing of such payments at the reasonable discretion of the production. Subsequent to repayment, the terms of the loans entitle the company to a share of post-recoupment profit. Provision is made where the directors consider it unlikely that the production will be able to repay the loan in full.

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 deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies 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.

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

Current asset investments represent non-recourse loans advanced to theatrical productions which are repayable out of the profits of those productions.

Included in other creditors is an amount of £607,706 which is only repayable out of amounts returned to the company in relation to its investment in theatrical productions. These creditors do not have recourse to any other assets of the company and are not able to demand repayment of their loans other than out of funds received by the company.

At 31 December 2025, the company owed £557,706 to JGF Productions LLC, a shareholder of the company. The balance is included within other creditors.

The company is owned equally by JGF Productions LLC and RCS Theatrical Productions LLC, each of which holds 50% of the issued share capital. On this basis the directors consider that there is no ultimate controlling party.