Registration number:
Oxford Playhouse Productions Limited
for the Year Ended 31 March 2022
Oxford Playhouse Productions Limited
Contents
Statement of Directors' Responsibilities |
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Balance Sheet |
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Notes to the Financial Statements |
Oxford Playhouse Productions Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Oxford Playhouse Productions Limited
(Registration number: 03921914)
Balance Sheet as at 31 March 2022
Note |
2022 |
2021 |
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Current assets |
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Debtors |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Retained earnings |
28,548 |
- |
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Shareholders' funds |
28,549 |
1 |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Oxford Playhouse Productions Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
On the basis of their assessment of the company's financial position and the enquiries made of the
Directors of The Oxford Playhouse Productions Limited, the company's directors have reasonable
expectation that the company will be able to continue in operational existence for the forseeable
future. Thus they continue to adopt the going concern basis of accounting in preparing the annual
financial statements.
Theatre Tax Relief
For the 31 March 2022 financial year Oxford Playhouse Productions entered in to a legal agreement with their parent entity The Oxford Playhouse Trust whereby The Oxford Playhouse Trust commissioned the Oxford Playhouse Productions Limited to produce shows its shows. Accordingly whilst the company remains responsible for decisions connected with these productions, Oxford Playhouse Productions Limited has sub-contracted The Oxford Playhouse Trust to make available the benefit of the services of relevant staff and provide production services as appropriate for any future commissioned shows. Theatre Tax Relief is recognised as the amount expected to be recovered based on qualifying expenditure incurred and the rates of relief that have been enacted at the balance sheet date.
Oxford Playhouse Productions Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
Audit report
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Debtors |
Note |
2022 |
2021 |
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Amounts owed by The Oxford Playhouse Trust |
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Other debtors |
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- |
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Oxford Playhouse Productions Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
Share capital |
Allotted, called up and fully paid shares
2022 |
2021 |
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No. |
£ |
No. |
£ |
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1 |
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1 |
Ultimate Parent Company |
The company is a subsidiary of The Oxford Playhouse Trust (a company limited by guarantee; 02397373), registered in England. The Oxford Playhouse Trust is also a charity registered in England and Wales (charity number; 900039). The accounts are available to the public and may be obtained from the Registrar of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ. The results of this entity are included within the consolidated financial statements for The OXford Playhouse Trust.