E-Scape Electric Riding Zones Ltd Filleted accounts for Companies House (small and micro)

E-SCAPE ELECTRIC RIDING ZONES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 07534640

E-Scape Electric Riding Zones Ltd

Filleted Unaudited Financial Statements

28 February 2023

E-Scape Electric Riding Zones Ltd

Balance Sheet

28 February 2023

	2023		2022
Note	£	£	£

Fixed assets

Tangible assets	5		304,536	303,695

Current assets

Stocks	41,029	43,953
Cash at bank and in hand	1,427	28,916
	--------	--------
	42,456	72,869

Creditors: amounts falling due within one year	6	767,919		732,758
		---------		---------
Net current liabilities			725,463	659,889
			---------	---------
Total assets less current liabilities			( 420,927)	( 356,194)
			---------	---------
Net liabilities			( 420,927)	( 356,194)
			---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 421,027)	( 356,294)
	---------	---------
Shareholders deficit	( 420,927)	( 356,194)
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income (including profit and loss account) has not been delivered.

For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

E-Scape Electric Riding Zones Ltd

Balance Sheet (continued)

28 February 2023

These financial statements were approved by the board of directors and authorised for issue on 9 November 2023 , and are signed on behalf of the board by:

Mr S Rutter Director

Company registration number: 07534640

E-Scape Electric Riding Zones Ltd

Notes to the Financial Statements

Year ended 28 February 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hill Top Farm, Preston on the Hill, Warrington, Cheshire, UK, WA4 4AZ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The company has a deficit and net current liabilities. The current liabilities include a loan from the director and from a company under his control, which will continue as required. The director therefore consider the company to be a going concern and the financial statements are prepared on this basis.

Judgements 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. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no material judgements, estimates or assumptions.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold land & buildings	-	4% straight line
Plant & machinery	-	33% straight line
Fixtures & fittings	-	25% straight line
Motor vehicles	-	25% straight line

	Equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2022: 2 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£	£
Cost
At 1 March 2022	423,152	215,619	3,788	4,347	646,906
Additions	–	–	1,250	–	1,250
	---------	---------	-------	-------	---------
At 28 February 2023	423,152	215,619	5,038	4,347	648,156
	---------	---------	-------	-------	---------
Depreciation
At 1 March 2022	120,092	215,619	3,788	3,712	343,211
Charge for the year	–	–	250	159	409
	---------	---------	-------	-------	---------
At 28 February 2023	120,092	215,619	4,038	3,871	343,620
	---------	---------	-------	-------	---------
Carrying amount
At 28 February 2023	303,060	–	1,000	476	304,536
	---------	---------	-------	-------	---------
At 28 February 2022	303,060	–	–	635	303,695
	---------	---------	-------	-------	---------

6. Creditors: amounts falling due within one year

	2023	2022
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	159,703	159,704
Social security and other taxes	1,350	4,047
Other creditors	606,866	569,007
	---------	---------
	767,919	732,758
	---------	---------

7. Director's advances, credits and guarantees

During the year a further £37,859 was advanced by the director, so that as at 28 February 2023 £606,336 (2022 £568,477) was owed to him. There is no formal agreement in respect of this loan but the director has confirmed that the loan will continue as required by the company.

8. Related party transactions

The amount unpaid in respect of work performed in respect of the site by HRA & Co Ltd, a company under common control, still remains unpaid. Although the work performed was charged under normal commercial terms, payment has not been sought therefore as at 28 February 2023, £159,702 (2022 £159,702) was still owed to this company. The director has received assurances that the effective loan from HRA & Co Ltd will continue as required.

9. Reserves

The only movement in equity during the year was in respect of the loss for the year.