BIG RIVER PRODUCTIONS LIMITED PARTNERSHIP
FINANCIAL STATEMENTS
DECEMBER 31, 1998
REPORT OF INDEPENDENT AUDITOR
Big River Productions Limited Partnership
1501 Broadway - Suite 1904
New York, NY 10036
Gentlemen:
We have audited the accompanying balance sheet of Big River Productions Limited
Partnership as of December 31, 1998 and 1997, and the related statements of
income and partners' capital, and cash flows for the years then ended. These
financial statem ents are the responsibility of the Company's management. Our
responsibility is to express an opinion on these financial statements based on
our audit.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audits to
obtain reasonable assurance about whether the financial statements are free of
material misstatement. A n audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant
estimates made by management, as well as evalua ting the overall financial
statement presentation. We believe that our audits provides a reasonable basis
for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of Big River Productions Limited
Partnership as of December 31, 1998 and 1997, and the results of its operations
and its cash flows for the years then ended in conformity with generally
accepted accounting principles.
Respectfully submitted,
Schall & Ashenfarb,
Certified Public Accountants, P.C.
March 1, 1999
BIG RIVER PRODUCTIONS LIMITED PARTNERSHIP
INDEX
Part I PAGE
Item 1 - Business 1
Item 2 - Properties 1
Item 3 - Legal Proceedings 1
Part II
Item 4 - Submission of matter to vote of
security holders 1
Item 5 - Market for registrants common
equity and related stockholders
matters 1
Item 6 - Selected Financial Data 1
Item 7 - Managements discussion and analysis
of financial condition and results
of operations 1
Item 8 - Financial statements and supplementary
data 1
Item 9 - Disagreements on accounting and
financial disclosure 1
Part III
Item 10 - Directors and executive officers 1
Item 11 - Executive Compensation 1
Item 12 - Security Ownership 1
Item 13 - Certain relationship and related
transactions 1
Part IV
Item 14 - Financial statements 2-7
Signatures 8
Item 1 - Business
The Big River Productions Limited Partnership owns the rights
to the play Big River. As of December 31, 1998 the play was
being performed on tour.
Item 2 - Properties
Partnership maintains through its general partners offices at
1501 Broadway, New York, New York.
Item 3 - Legal Proceedings
NONE
Item 4 - Submission of matters to a vote of Security Holders
Not Applicable
Item 5 - Market for Registrants Common Equity & Stockholder Matters
Not Applicable
Item 6 - Selected Financial Data
The following table sets forth selected financial information
regarding the Company's financial position and operating
results. This information should be read in conjunction with
the financial statements and notes thereto and Managements
discussion and analysis of financial condition and results of
operations, appearing elsewhere in this report.
Income from continuing operation $98,059
Total Assets $108,984
Non-Current Obligations -0-
Item 7 - Managements Discussion and Analysis of financial condition and
results of operations
The Partnership was capitalized by $2,500,000 of partners
contributions during 1985 for the purpose of producing on
Broadway a dramatic - musical play entitled "Big River". The
Company's primary revenue source is from royalties from
licensing agreements. The Company's royalty income was $98,059
during 1998.
Item 8 - Financial Statement and Supplementary Data
The financial statements and supplementary data listed on he
accompanying Index to financial statements and Index to
financial schedule are hereby incorporated herein by this
reference and filed as part of this report.
Item 9 - Disagreements on Accounting and Financial Disclosures
NONE
Item 10 - 13 Not Applicable
BIG RIVER PRODUCTIONS LIMITED PARTNERSHIP
BALANCE SHEET
DECEMBER 31,
ASSETS
1998 1997
----- -----
Current Assets
Cash in Bank $108,984 $18,384
-------- -------
Total Assets $108,984 $18,384
======== ========
LIABILITY & PARTNERS CAPITAL
Current Liabilities
Accrued Expenses $18,637 $6,644
------- ------
Total Liabilities $18,637 6,644
Partners Capital
Partners Capital 90,347 11,740
-------- ------
Total Partners Capital 90,347 11,740
Total Liabilities & Partners Capital $108,984 $18,384
========= =======
See accountants compilation report.
BIG RIVER PRODUCTIONS LIMITED PARTNERSHIP
STATEMENT OF INCOME AND PARTNERS' CAPITAL
FOR THE TWELVE MONTHS ENDED DECEMBER 31,
1998 1997
Income:
Royalty $98,059 $65,659
------- --------
Total income 98,059 65,659
Less: Expenses
Royalty Expense 8,793 16,558
General Manager Fee 1,200 1,200
Professional 4,677 4,665
Administration Expense 1,782 0
------ --------
Total Expenses 16,452 22,423
-------- ------
Net Income Before Taxes 81,607 43,236
Provision for NYC Unincorporated
Business Tax
3,000 1,534
------ -----
Net Income Before Interest Income 78,607 41,702
Interest Income 0 644
----- ----
Net Income 78,607 42,346
Partners' Capital - Beginning of year 11,740 59,394
Less: Distribution to Partner's 0 (90,000)
--------- --------
Partners' Capital - End of year 90,347 $11,740
========= =======
See notes attached
BIG RIVER PRODUCTIONS LIMITED PARTNERSHIP
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31,
<TABLE>
1998 1997
----- ----
<S> <C> <C>
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income $78,607 $42,346
Adjustments to reconcile net income
to net cash provided by operating activities
Increase/(Decrease)in accrued expenses 11,993 944
-------- ---
Total Adjustments 11,993 944
-------- ---
Net Cash Provided by Operating Activities 90,600 43,290
CASH FLOWS FROM FINANCING ACTIVITIES
Capital Distributions 0 (90,000)
--- -------
Net cash used for financing activities 0 (90,000)
----- -------
Net cash increase/(decrease)for year 90,600 (46,710)
Cash and Cash equivalents
at beginning of year 18,384 65,094
--------- ------
Cash and cash equivalents at end of year 108,984 $18,384
========= =======
See notes attached
</TABLE>
BIG RIVER PRODUCTIONS LIMITED PARTNERSHIP
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1998 AND 1997
Note 1 - General
The Big River Productions Limited Partnership (the "Company")
owns shares in subsidiary rights of the property Big River,
including all live stock and amateur performances.
Note 2 - Accounting Policies
A) The Company uses the accrual method of accounting for royalty
income and related expenses.
B) The Company reports the statement of cash flows in accordance
with the Financial Accounting Standards Board statement No. 95.
For purposes of this statement, all highly liquid securities
with a maturity of three months or less are considered to be
cash equivalents.
Note 3 - Commitments & Contingencies
The Company has no long term leases.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
BIG RIVER PRODUCTIONS LIMITED PARTNERSHIP
(Registrant)
Date: ____________ ------------------------
By: Edward Strong
(Officer)
David, Strong, Warner, General Partner
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K
ANNUAL REPORT UNDER SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE FOR THE YEAR ENDED DECEMBER 31, 1998 COMMISSION FILE# 294790-NY
BIG RIVER PRODUCTIONS LIMITED PARTNERSHIP
-----------------------------------------
NEW YORK 13-3243107
- ------------------------------------------------------
(State of other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
1501 BROADWAY NEW YORK, NEW YORK 10036
- -----------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrants telephone number, including Area Code (212) 575-9710
----------------
Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed under Section 13 or 15(d) of the Securities Exchange Act
of 1934 during the proceeding 12 months and (2) has been subject to such filing
requirements for the past 90 days.
YES X NO
--- ---
<TABLE> <S> <C>
<ARTICLE> 5
<CIK> 0000759440
<NAME> BIG RIVER PRODUCTIONS LIMITED PARTNERSHIP
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<CASH> 108984
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 108984
<CURRENT-LIABILITIES> 18637
<BONDS> 0
0
0
<COMMON> 0
<OTHER-SE> 90347
<TOTAL-LIABILITY-AND-EQUITY> 108984
<SALES> 98059
<TOTAL-REVENUES> 98059
<CGS> 0
<TOTAL-COSTS> 16452
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 81607
<INCOME-TAX> 3000
<INCOME-CONTINUING> 78607
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 78607
<EPS-PRIMARY> 0
<EPS-DILUTED> 0
</TABLE>
