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PYRAMID THEATRE PRODUCTIONS LTD
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 FEBRUARY 2020
Pyramid Theatre Productions Ltd is a private company, limited by shares, registered in England and Wales, registration number
11930876
. The registered office address is 187 Drury Lane, London, WC2B 5QD.
The principal activity of the company is that of theatrical productions.
The company was incorporated on 8 April 2019 and commenced trading on 1 May 2019.
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Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of
Financial Reporting Standard 102, the Financial Reporting Standard applicable in
the UK and the Republic of Ireland and the Companies Act 2006
.
The company's functional and presentational currency is pound sterling.
The following principal accounting policies have been applied:
The directors are assessing, on a daily basis, the impact of the significant uncertainty arising from the COVID-19 virus. Whilst the directors appreciate there are significant uncertainty surrounding the future economic climate, Pyramid Theatre Productions Limited is well placed to address these impacts.
The company has negotiated their contract with the theatre to continue hosting the musical, The Prince of Egypt, for the foreseeable future, in accordance with the government guidelines permitting the theatre companies to reopen. The directors are hopeful that the production will continue to bring in expected levels of bookings that were received pre COVID-19, once the theatres are allowed to reopen.
Therefore, the accounts have been prepared on a going concern basis.
Turnover from theatrical production is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue 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.
Interest income is recognised in profit or loss using the effective interest method.
All borrowing costs are recognised in profit or loss in the period in which they are incurred.
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