Escape Asylum Ltd - Accounts to registrar (filleted) - small 18.2

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REGISTERED NUMBER: 09824878 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2018

for

Escape Asylum Ltd

Page

Company Information

Balance Sheet

Notes to the Financial Statements

DIRECTORS:

Ms S Topp

G D Topp

D Walford

SECRETARY:

REGISTERED OFFICE:

Spirits

6 Hotel Street

Leicester

LE1 5AW

REGISTERED NUMBER:

09824878 (England and Wales)

ACCOUNTANTS:

M Ahmed & Co

Chartered Accountants

83 Park Road

Chilwell

Nottingham

NG9 4DE

FIXED ASSETS

Tangible assets

68,095

12,641

CURRENT ASSETS

Debtors

104,614

11,281

Cash at bank

7,329

36,673

111,943

47,954

CREDITORS

Amounts falling due within one year

77,858

32,952

NET CURRENT ASSETS

34,085

15,002

TOTAL ASSETS LESS CURRENT
LIABILITIES

102,180

27,643

CREDITORS

Amounts falling due after more than one
year

99,975

NET ASSETS

2,205

27,643

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

2,105

27,543

SHAREHOLDERS' FUNDS

2,205

27,643

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 30 November 2019 and were signed on its behalf
by:

D Walford - Director

1.	STATUTORY INFORMATION

Escape Asylum Ltd 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

20% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. 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 or deferred 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2017 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

COST

At 1 November 2017

15,989

Additions

67,225

At 31 October 2018

83,214

DEPRECIATION

At 1 November 2017

3,348

Charge for year

11,771

At 31 October 2018

15,119

NET BOOK VALUE

At 31 October 2018

68,095

At 31 October 2017

12,641

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

Amounts owed by associates

100,114

Other debtors

4,500

11,281

104,614

11,281

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

Bank loans and overdrafts (see note 8)

50,651

Corporation Tax

(2,150

)

4,915

Social security and other taxes

560

13,226

VAT

545

Directors' current accounts

24,801

14,811

Accrued expenses

3,451

77,858

32,952

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.10.18

31.10.17

Bank loans (see note 8)

99,975

LOANS

An analysis of the maturity of loans is given below:

31.10.18

31.10.17

Amounts falling due within one year or on demand:

Bank loans

50,651

Amounts falling due between one and two years:

Bank loans - 1-2 years

31,650

Amounts falling due between two and five years:

Bank loans - 2-5 years

68,325