Musical Theatre Network Limited - Period Ending 2020-03-31

Registration number: 06855097

Musical Theatre Network Limited

Unaudited Balance Sheet

Year Ended 31 March 2020

Musical Theatre Network Limited

Contents

Company Information	1
Balance Sheet	2
Statement of Changes in Equity	3
Notes to the Financial Statements	4 to 5

Musical Theatre Network Limited

Company Information

Directors

N S Foster J S Myers S M Mclean Robinson P H Rowe R J Povey R Coupland K M Lipson T G Sawers F G Mallin-Robinson R Shah

Registered office

22 Chancery Lane London WC2A 1LS

Page 1

Musical Theatre Network Limited

(Registration number: 06855097)

Balance Sheet as at 31 March 2020

	Note	2020 £	2019 £
Current assets
Debtors	4	41,651	15,765
Cash at bank and in hand		32,923	30,972
		74,574	46,737
Creditors: Amounts falling due within one year	5	(38,923)	(21,737)
Net assets		35,651	25,000
Capital and reserves
Profit and loss account		35,651	25,000
Total equity		35,651	25,000

For the financial year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 and Directors' Report has been taken.

Approved and authorised by the Board on 9 December 2020 and signed on its behalf by:
 

.........................................

T G Sawers

Director

The notes on pages 4 to 5 form an integral part of these financial statements.

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Musical Theatre Network Limited

Statement of Changes in Equity

Year Ended 31 March 2020

	Profit and loss account £	Total £
At 1 April 2019	25,000	25,000
Profit for the year	10,651	10,651
Total comprehensive income	10,651	10,651
At 31 March 2020	35,651	35,651

	Profit and loss account £	Total £
At 1 April 2018	22,990	22,990
Profit for the year	2,010	2,010
Total comprehensive income	2,010	2,010
At 31 March 2019	25,000	25,000

The notes on pages 4 to 5 form an integral part of these financial statements.

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Musical Theatre Network Limited

Notes to the Financial Statements

Year Ended 31 March 2020

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
22 Chancery Lane
London
WC2A 1LS

2	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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared under the historical cost convention.

The financial statements are presented in Sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The impact of the COVID-19 pandemic (coronavirus) on the ability of the company to continue as a going concern has been assessed by the directors. The directors consider that there are no material uncertainties about the company’s ability to continue as a going concern for the next 12 months and foreseeable future. The company holds sufficient reserves and has reasonable expectations of income to cover costs and meet liabilities for the next 12 months. The financial statements do not include any adjustments that would be necessary if the going concern basis was not appropriate.

Revenue recognition

Revenue comprises grants, donations and membership fees.

Grants are recognised when the company has entitlement to the funds and any performance conditions attached to the grants have been met.

Donations are recognised when the company has entitlement to the income, there is reasonable assurance of receipt and the amount of income can be measured reliably.

Membership fees are recognised in the periods covered by the membership.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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Musical Theatre Network Limited

Notes to the Financial Statements

Year Ended 31 March 2020

The current 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.

3	Staff numbers

The average number of persons employed by the company during the year was 2 (2019 - 2).

4

Debtors

	2020 £	2019 £
Other debtors	41,651	15,765
	41,651	15,765

5

Creditors

	2020 £	2019 £
Due within one year
Taxation and social security	2,595	1,418
Other creditors	36,328	20,319
	38,923	21,737

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