You know summer has arrived in Oxford when you can't move without seeing adverts for outdoor Shakespeare performances. One of the most heavily advertised events in town at the moment is Twelfth Night at Wadham College, as performed by the Oxford Shakespeare Company. This marks the company's 16th year performing in this delightful spot.

With its mixture of farce, cross dressing, unrequited passion and yellow stockings, Twelfth Night is infinitely pliable in the hands of a good cast and talented director. Although it lacks the spiky exchanges Much Ado About Nothing - also to be seen in Oxford at present, in a production from Creation Theatre Company - it is more layered, thematically interesting and ultimately more rewarding.

It is a story of twins, washed up on the shores of Illyria after their boat capsized in a tempest. Unfortunately, there is no calm after the storm, and Viola (Hannah Boyde) soon finds herself working for Duke Orsino (Chris Heyward) in the disguise of young man servant Cesario' and finding herself embroiled in Orsino's attempts to woo the lady Olivia (Kali Peacock). Her androgyny goes almost unnoticed in a place full of deception and deviousness, where drunkards make fun of puritans, and where the courts' fool is one of the most intelligent, and cunning, people in the court.

OSC have staged the play with no specific time period in mind, but have transplanted it to an anonymous British seaside location, complete with deckchairs, surfboards and rubber rings. Malvolio (James Lavender) goes from wearing funereal dress to very little at all, the twins come stumbling in wearing 17th-century garb and "excellent wench" Maria looks like she stepped out of a 1980s music video. It's both distinctive and irreverent; the production cuts out chunks of text, adds copious singing and leaves out - somewhat wisely - the non-character Fabian.

It's completely at odds with the sobriety of Wadham College's Jacobean architecture, and gloriously so. Rarely is Shakespeare performed with such physicality and chutzpah. If you don't mind a little tampering with both the setting and the text, then Twelfth Night is for you. It does not always work, and occasionally things do get a little broad and hysterical, but mostly it's a fine interpretation of a comedy which, four hundred years on, is still very funny.

Twelfth Night continues until August 1. Box office tel. 01865 305305.