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

REGISTERED NUMBER: 11786529 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2021

for

Escape Enterprises Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J T Dalziel

J S Sodhi

REGISTERED OFFICE:

45 Blondvil Street

Coventry

CV3 5EQ

REGISTERED NUMBER:

11786529 (England and Wales)

ACCOUNTANTS:

Valhalla Private Client Services LLP

Valhalla House

30 Ashby Road

Tove Valley Business Park

Towcester

Northamptonshire

NN12 6PG

FIXED ASSETS

Investments

4

304

304

CURRENT ASSETS

Debtors

5

210,000

-

Cash at bank and in hand

90,096

96

300,096

96

CREDITORS

Amounts falling due within one year

6

301,030

600

NET CURRENT LIABILITIES

(934

)

(504

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(630

)

(200

)

CAPITAL AND RESERVES

Called up share capital

400

400

Retained earnings

(1,030

)

(600

)

(630

)

(200

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 28 September 2022 and were signed on its behalf by:

J S Sodhi - Director

1.	STATUTORY INFORMATION

Escape Enterprises 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.

Going Concern, Brexit, the Covid19 Pandemic, the War in Ukraine, the Cost of living and the Economy

The directors have reviewed the working capital requirements of the company for a period of not less than 12 months from the balance sheet date, with particular emphasis on the effects of Brexit, the Covid-19 Pandemic, the war in Ukraine, the Cost of living and the overall economy.

All of these factors will not have a significant impact on the operations of this company, however they will impact the operations of its subsidiaries due to the enforced venue closures, staff shortages, increased cost of living impacting on the ability of customers to afford to attend entertainment venues and the increase in costs of goods and utilities, the combined effect of these factors will have a material impact on the profitability of the subsidiary companies and ultimately this will affect the dividends received by the company.

The directors have been actively implementing plans within the subsidiary companies to mitigate the effect of these challenges, these include significant changes to method of delivery of core services, with provision of remote, socially distant & online services, through the deployment of online gaming and immersive experiences.

The directors have confirmed that the company will utilise all available Covid-19 support and manage the cost of the repayments and resultant tax charges and the directors and group companies will continue to support the business during these unprecedented times.

Preparation of consolidated financial statements

The financial statements contain information about Escape Enterprises Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 2 (2020 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2021

and 31 December 2021

304

NET BOOK VALUE

At 31 December 2021

304

At 31 December 2020

304

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Amounts owed by participating interests

210,000

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Amounts owed to group undertakings

100,000

-

Other creditors

201,030

600

301,030

600

7.	RELATED PARTY DISCLOSURES

Included in amounts due from participating interests is £210,000 in respect of a loan to Neon Property Management Ltd, a company in which the director Mr J S Sodhi, is a director and shareholder.

Included in amounts due to group companies is £100,000 in respect of a loan from Hoola Events Ltd, a company within the group.