NEW ADVENTURES SCISSORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
New Adventures Red Shoes Limited is a private company limited by shares and incorporated in England. The address of the registered office is 124 Finchley Road, London, NW3 5JS.
The company produces the touring dance-theatre production of Edward Scissorhands
.
The company was incorporated on 4 April 2023 and commenced trading from the same date.
The financial statements are prepared on a 52 week (and where appropriate 53 weeks) basis to the Sunday closest to 31 March each year.
2.Accounting policies
|
|
Basis of preparation of financial statements
|
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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.
The following principal accounting policies have been applied:
The company meets its day to day working capital requirement through the utilisation of its own funds and support from its parent company. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company expects to exist in dormancy for any future shows and trading opportunities. The company therefore continues to adopt the going concern basis in preparing its financial statements.
|
|
Functional and presentation currency
|
The company's functional and presentational currency is GBP.
Revenue relating to ticket sales is recognised at the end of the week in which the show is staged.
Revenue is reported on all admissions and is exclusive of VAT. Revenue from admission is reported as the amount received by the producer after the theatres have deducted relevant commission and banking charges.
Other income is recognised in the period in which the income is earned
Interest income is recognised in profit or loss using the effective interest method.
|