THE_MAGICAL_OPERA_COMPANY - Accounts


Company Registration No. 07572578 (England and Wales)
THE MAGICAL OPERA COMPANY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
PAGES FOR FILING WITH REGISTRAR
THE MAGICAL OPERA COMPANY LTD
COMPANY INFORMATION
Directors
Mr M J Swain
Mrs B Swain
Company number
07572578
Registered office
22 Rydal Water
Hampstead Road
London
NW1 3ED
Accountants
Theataccounts Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
THE MAGICAL OPERA COMPANY LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 4
THE MAGICAL OPERA COMPANY LTD
ENTERTAINMENT ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE MAGICAL OPERA COMPANY LTD FOR THE YEAR ENDED 31 MARCH 2020
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Magical Opera Company Ltd for the year ended 31 March 2020 which comprise, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

 

It is your duty to ensure that The Magical Opera Company Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Magical Opera Company Ltd. You consider that The Magical Opera Company Ltd is exempt from the statutory audit requirement for the year.

Theataccounts Limited
30 January 2021
Entertainment Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
THE MAGICAL OPERA COMPANY LTD
BALANCE SHEET
AS AT 31 MARCH 2020
31 March 2020
- 2 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
3
506
1,002
Current assets
Debtors
-
358
Cash at bank and in hand
1,640
29
1,640
387
Creditors: amounts falling due within one year
4
(26,166)
(24,668)
Net current liabilities
(24,526)
(24,281)
Total assets less current liabilities
(24,020)
(23,279)
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
(24,120)
(23,379)
Total equity
(24,020)
(23,279)

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 Act with respect to accounting records and the preparation of financial statements.

The 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 30 January 2021 and are signed on its behalf by:
Mr M J Swain
Director
Company Registration No. 07572578
THE MAGICAL OPERA COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
- 3 -
1
Accounting policies
Company information

The Magical Opera Company Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 22 Rydal Water, Hampstead Road, London, NW1 3ED.

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.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of services is recognised by reference to the stage of completion and where the amount of revenue can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
33% on cost
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 1 (2019 - 1).

THE MAGICAL OPERA COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2019 and 31 March 2020
24,290
Depreciation and impairment
At 1 April 2019
23,288
Depreciation charged in the year
496
At 31 March 2020
23,784
Carrying amount
At 31 March 2020
506
At 31 March 2019
1,002
4
Creditors: amounts falling due within one year
2020
2019
£
£
Other taxation and social security
1,268
-
Other creditors
24,898
24,668
26,166
24,668
5
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary of £1 each
100
100
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