Company Registration No. 09268457 (England and Wales)
OLDHAM COLISEUM PRODUCTIONS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
OLDHAM COLISEUM PRODUCTIONS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
OLDHAM COLISEUM PRODUCTIONS LTD
BALANCE SHEET
AS AT
31 MARCH 2020
31 March 2020
- 1 -
2020
2019
Notes
£
£
£
£
Current assets
Debtors
2
91,514
139,576
Cash at bank and in hand
262
264
91,776
139,840
Creditors: amounts falling due within one year
3
(90,776)
(138,840)
Net current assets
1,000
1,000
Capital and reserves
Called up share capital
4
1,000
1,000
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 15 March 2021 and are signed on its behalf by:
J O'Connor
Director
Company Registration No. 09268457
OLDHAM COLISEUM PRODUCTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
- 2 -
1
Accounting policies
1.1
Accounting convention
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 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 are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
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.
1.2
Going concern
At the latter end of the period, Covid-19 was designated a pandemic by the World Health Organisation (WHO). The directors continue to review the impact on the business, ensuring provisions are put in place to mitigate any risk to the company’s ability to trade as a going concern. At the date of signing the financial statements, in the opinion of the directors, Covid-19 will not impact on the company’s ability to trade as a going concern.
true
Consequently, the company continues to adopt the going concern basis in preparing the financial statements.
1.3
Turnover
Turnover represents commissioning fees charged to the parent company, The Oldham Coliseum Theatre Limited, for opening, running and closing theatrical productions. This income is recognised on a receivable basis.
1.4
Cash at bank and in hand
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.
1.5
Where the company incurs qualifying losses in respect of theatre productions, the company has decided that these will be surrendered for a cash payment from HMRC under the Theatre Tax Credit regime. Where receipt of these tax credits is virtually certain they are included in the accounts in the year in which the qualifying losses were incurred.
1.6
Company information
Oldham Coliseum Productions Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Fairbottom Street, Oldham, OL1 3SW.
OLDHAM COLISEUM PRODUCTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
- 3 -
2
Debtors
2020
2019
Amounts falling due within one year:
£
£
Corporation tax recoverable
91,514
139,576
3
Creditors: amounts falling due within one year
2020
2019
£
£
Amounts owed to group undertakings
90,776
138,840
4
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
1,000 Ordinary shares of £1 each
1,000
1,000
5
Financial commitments, guarantees and contingent liabilities
The directors are not aware of any contingent liabilities.
6
Related party transactions
Included within creditors due within one year is £90,776 (2019 - £138,840) due to The Oldham Coliseum Theatre Limited, the parent company. This balance is unsecured, interest free and repayable on demand.
7
Events after the reporting date
There have been no significant post balance sheet events.
8
Parent company
The company is a wholly owned subsidiary of The Oldham Coliseum Theatre Limited, a company limited by guarantee, incorporated in England and Wales and a registered charity. It shares the same registered office.