Persona On Stage Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12088790 (England and Wales)

FINANCIAL STATEMENTS FOR THE PERIOD 6 JULY 2019 TO 31 JULY 2020

FOR

PERSONA ON STAGE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs A Schoolman

P Schoolman

REGISTERED OFFICE:

10 London Mews

Paddington

London

W2 1HY

REGISTERED NUMBER:

12088790 (England and Wales)

ACCOUNTANTS:

Stein Richards

Chartered Accountants

10 London Mews

Paddington

London

W2 1HY

CURRENT ASSETS

Debtors

4

13,339

Cash at bank

36,881

50,220

CREDITORS

Amounts falling due within one year

5

131,506

NET CURRENT LIABILITIES

(81,286

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(81,286

)

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

(81,287

)

(81,286

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 July 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 July 2021 and were signed on its behalf by:

Mrs A Schoolman - Director

1.	STATUTORY INFORMATION

Persona On Stage Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

On the 9 September 2019 the company changed its name from Persona SPV Limited to Persona on stage Limited.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These are the first financial statements prepared for the company and are therefore for a longer period of 12 months and 26 days.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue relates to the sale of theatre tickets. The revenue is recognised on the performance of the show to which the tickets relate as this is the moment at which risks and rewards are considered to have transferred.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors, trade creditors, other debtors and other creditors.

The basic financial instruments are initially recognised at transaction price and subsequently carried at amortised cost.

Taxation

Taxation for the period comprises current tax only. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Grant funding

Included within other operating income are grants received during the year totalling £16,500. This funding was used to pay for the costs of the theatre production and has therefore been recognised on the accrual model.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

13,339

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Amounts owed to group undertakings

30,499

Other creditors

101,007

131,506

6.	RELATED PARTY DISCLOSURES

Directors

During the period the Directors loaned the company £95,757 and this amount is owed to the Directors as at 31 July 2020. No interest is being charged on this loan, and the loan is repayable on demand.