ACCOUNTS - Final Accounts preparation

Registered number: 13830963

HOUSE OF OZ LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2025

HOUSE OF OZ LIMITED

REGISTERED NUMBER: 13830963

STATEMENT OF FINANCIAL POSITION

AS AT 31 JANUARY 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	5		1,375		-
			1,375		-
Current assets
Debtors		11,721		5,447
Current asset investments	6	250,000		250,000
Bank and cash balances		3,388		105,964
		265,109		361,411
Creditors: amounts falling due within one year	7	(1,912,306)		(1,440,370)
Net current liabilities			(1,647,197)		(1,078,959)
Total assets less current liabilities			(1,645,822)		(1,078,959)

Net liabilities			(1,645,822)		(1,078,959)

Capital and reserves
Called up share capital	10,000	10,000
Profit and loss account	(1,655,822)	(1,088,959)
	(1,645,822)	(1,078,959)

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HOUSE OF OZ LIMITED

REGISTERED NUMBER: 13830963

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 JANUARY 2025

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 October 2025.

G Black

Director

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HOUSE OF OZ LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

1.	General information

House of Oz Limited is a private company limited by shares and registered in England and Wales. The address of its principal place of business is 1st Floor Gallery Court, 28 Arcadia Avenue, London, N3 2FG.

2.Accounting policies

2.1

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:

2.2

Going concern

The company is showing net liabilities at the reporting date. In order to continue trading it is dependent on the continued financial support of its Director who has confirmed her intention to continue to support the company for the foreseeable future.
On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result in the withdrawal of the aforementioned support.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
The company derives the majority of its income from the presentation and production of theatrical productions, including the receipt of grants and donations.
Performance revenue
Turnover from the sale of theatre tickets is recognised on the date the performance takes place. Statements are received in arrears of the performance date, therefore an adjustment is made at the year end and income is accrued accordingly.
Grant income
Performance related grants are recognised when the conditions for receipt of the grant are met and receipt is probable. Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure. The deferred element of grants is included in creditors as deferred income.
Donation income
The company receives public donations which are being recognised when the company has entitlement and receipt is probable.

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HOUSE OF OZ LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

2.Accounting policies (continued)

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment

33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash

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HOUSE OF OZ LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

2.Accounting policies (continued)

2.7

Financial instruments (continued)

equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

3.	Judgments and key sources of estimation uncertainty

Judgments in applying accounting policies and key sources of estimation uncertainty. The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the reporting date and the amounts reported for revenues and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those estimates.
Accruals
The company makes an estimate of accruals at the reporting date based on invoices received after the period end and work undertaken which has not been invoiced based on quotations or estimates of amounts that may be due for payment.

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 1).

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HOUSE OF OZ LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

5.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	Additions	1,500
	At 31 January 2025	1,500
	Depreciation
	Charge for the year on owned assets	125
	At 31 January 2025	125
	Net book value
	At 31 January 2025	1,375
	At 31 January 2024	-

6.	Investment in theatrical productions
		2025	2024
		£	£

	Investments in Theatrical Productions	250,000	250,000

Investment in theatrical productions are carried forward at the lower of cost and estimated net realisable value.

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	297	-
Other taxation and social security	1,243	-
Other creditors	1,901,915	1,437,370
Accruals and deferred income	8,851	3,000
	1,912,306	1,440,370

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HOUSE OF OZ LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

8.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £771 (2024 - £Nil) . Contributions totalling £Nil (2024 - £Nil) were payable to the fund at the reporting date and are included in creditors.

9.	Related party transactions
	At the reporting date the company owed G Black, the director, amounts totalling £1,901,915 (2024: £1,437,370) which is included in other creditors. The balance was provided interest free and is repayable on demand. The company has not entered into any other transactions with related parties that are material and that have not been concluded under normal market conditions.

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