The Old Vic Theatre Limited
Financial Statements
For the year ended 31 August 2021
For Filing with Registrar
Company Registration No. 03585885 (England and Wales)
The Old Vic Theatre Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
The Old Vic Theatre Limited
Balance Sheet
As at 31 August 2021
Page 1
2021
2020
Notes
£
£
£
£
Current assets
Debtors
3
993,305
989,211
Cash at bank and in hand
4,094
993,305
993,305
Creditors: amounts falling due within one year
4
(1,000,203)
(1,000,203)
Net current liabilities
(6,898)
(6,898)
Capital and reserves
Called up share capital
5
2
2
Profit and loss reserves
(6,900)
(6,900)
Total equity
(6,898)
(6,898)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
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 31 May 2022 and are signed on its behalf by:
L Cooke
Director
Company Registration No. 03585885
The Old Vic Theatre Limited
Notes to the Financial Statements
For the year ended 31 August 2021
Page 2
1
Accounting policies
Company information
The Old Vic Theatre Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
The Old Vic, 103 The Cut, London, United Kingdom, SE1 8NB.
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 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
The company has ceased actively to trade. The director is intending to close the company in the near future, and as such these financial statements are prepared on a basis other than that of a going concern.
true
1.3
Cash and cash equivalents
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.
1.4
Financial instruments
The company has only basic financial instruments measured at amortised cost, with no financial instruments classified as other, or basic instruments measured at fair value.
1.5
Equity instruments
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.
1.6
Foreign exchange
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was nil (2020
:nil).
The Old Vic Theatre Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2021
Page 3
3
Debtors
2021
2020
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
993,305
989,211
4
Creditors: amounts falling due within one year
2021
2020
£
£
Amounts owed to group undertakings
203
203
Other creditors
1,000,000
1,000,000
1,000,203
1,000,203
5
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
2
2
2
2
6
Audit report information
As the income statement has been omitted from the filing copy of the financial statements
,
the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006
:
The auditor's report was unqualified.
The senior statutory auditor was James Cross and the auditor was Moore Kingston Smith LLP.
7
Related party transactions
Included within Other Creditors is a loan of £500,000 (2020: £500,000) payable to an entity set up by one of the trustees of the ultimate parent undertaking. The loan is provided unsecured, interest free, and is repayable on demand.
Also included within Other Creditors is a loan of £500,000 (2020: £500,000) payable to an entity set up by one of the trustees of the ultimate parent undertaking. The loan was originally payable to an unrelated party. During the year the benefit of this has been transferred to an entity set up by the same trustee. The loan is provided unsecured, interest free, and is repayable on demand.
The Old Vic Theatre Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2021
Page 4
8
Parent company
The immediate and ultimate parent company is the Old Vic Theatre Trust 2000, a charitable company registered in England and Wales. The company's registered office and principal place of business is The Old Vic, 103 The Cut, London, SE1 8NB.
The Old Vic Theatre Trust 2000 prepares group financial statements and copies can be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.