Company registration number 1973452 (England and Wales)
THE OXFORD SCHOOL OF DRAMA LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
THE OXFORD SCHOOL OF DRAMA LIMITED
COMPANY INFORMATION
Directors
A Millman
F Murray-Fuentes
Company number
1973452
Registered office
c/o Gravita Oxford LLP
First Floor, Park Central
40-41 Park End Street
Oxford
OX1 1JD
Accountants
Gravita Audit Oxford LLP
First Floor, Park Central
40-41 Park End Street
Oxford
OX1 1JD
Business address
Sansomes Farm Studios
Woodstock
Oxfordshire
OX20 1ER
THE OXFORD SCHOOL OF DRAMA LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Statement of changes in equity
5
Notes to the financial statements
6 - 7
THE OXFORD SCHOOL OF DRAMA LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
- 1 -

The directors present their annual report and financial statements for the year ended 31 August 2024.

Principal activities

The principal activity of the company is the teaching of drama.

Directors
N Macaluso
(Resigned 11 April 2024)
A Millman
F Murray-Fuentes
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
A Millman
Director
23 May 2025
THE OXFORD SCHOOL OF DRAMA LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE OXFORD SCHOOL OF DRAMA LIMITED FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -

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 Oxford School of Drama Limited for the year ended 31 August 2024 which comprise the profit and loss account, the balance sheet, the statement of changes in equity and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of The Oxford School of Drama Limited, as a body, in accordance with the terms of our engagement letter dated 2 February 2024. Our work has been undertaken solely to prepare for your approval the financial statements of The Oxford School of Drama Limited and state those matters that we have agreed to state to the board of directors of The Oxford School of Drama Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Oxford School of Drama Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that The Oxford School of Drama Limited 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 Oxford School of Drama Limited. You consider that The Oxford School of Drama Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Oxford School of Drama Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Gravita Audit Oxford LLP
Chartered Accountants
First Floor, Park Central
40-41 Park End Street
Oxford
OX1 1JD
23 May 2025
THE OXFORD SCHOOL OF DRAMA LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
2024
2023
Notes
£
£
Turnover
-
-
Administrative expenses
(2,141)
(5,191)
Operating loss
(2,141)
(5,191)
Interest receivable and similar income
202
1,669
Loss before taxation
(1,939)
(3,522)
Tax on loss
(88)
(835)
Loss for the financial year
(2,027)
(4,357)
THE OXFORD SCHOOL OF DRAMA LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 4 -
2024
2023
Notes
£
£
£
£
Current assets
Cash at bank and in hand
10,750
12,777
Net current assets
10,750
12,777
Capital and reserves
Called up share capital
17,134
17,134
Profit and loss reserves
(6,384)
(4,357)
Total equity
10,750
12,777

For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared 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 23 May 2025 and are signed on its behalf by:
A Millman
Director
Company registration number 1973452 (England and Wales)
THE OXFORD SCHOOL OF DRAMA LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 September 2022
17,134
17,875
35,009
Year ended 31 August 2023:
Loss and total comprehensive income
-
(4,357)
(4,357)
Distributions to parent charity under gift aid
-
(17,875)
(17,875)
Balance at 31 August 2023
17,134
(4,357)
12,777
Year ended 31 August 2024:
Loss and total comprehensive income
-
(2,027)
(2,027)
Balance at 31 August 2024
17,134
(6,384)
10,750
THE OXFORD SCHOOL OF DRAMA LIMITED
STATEMENT OF CHANGES IN EQUITY (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
1
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2
Accounting policies
Company information

The Oxford School of Drama Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o Gravita Oxford LLP, First Floor, Park Central, 40-41 Park End Street, Oxford, OX1 1JD. The principal place of business is Sansomes Farm Studios, Woodstock, Oxfordshire, OX20 1ER.

2.1
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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

 

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.2
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.

 

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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:

2.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

THE OXFORD SCHOOL OF DRAMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
2
Accounting policies
(Continued)
- 7 -
Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

2.4
Taxation

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.

Current tax

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.

2.5

Dividends and distributions

Dividends and distributions to the company’s shareholders is recognised in the financial statements in the reporting period in which the distributions are declared/paid.

2.6

Share capital

Ordinary shares classified as equity. Equity instruments are measured at fair value of the cash or other resources received or receivable, net of 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.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
4
Ultimate controlling party

The company's parent is the Oxford School of Drama Trust, which produces consolidated financial statements.

 

Their principal address is:

Sansomes Farm Studios

Woodstock

Oxford

OX20 1ER

 

As a wholly owned subsidiary the company has taken advantage of the exemption in FRS102 from disclosing related party transactions with other members of the group.

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