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REGISTERED NUMBER: 12322696 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

Hoola Events Ltd

Hoola Events Ltd (Registered number: 12322696)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Hoola Events Ltd

Company Information
for the Year Ended 31 December 2022







DIRECTORS: J T Dalziel
J S Sodhi
A W Sandham





REGISTERED OFFICE: 54 Grafton Street
Coventry
CV1 2HW





REGISTERED NUMBER: 12322696 (England and Wales)





ACCOUNTANTS: Valhalla Private Client Services LLP
Valhalla House
30 Ashby Road
Tove Valley Business Park
Towcester
Northamptonshire
NN12 6PG

Hoola Events Ltd (Registered number: 12322696)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 40,212 24,900
Tangible assets 5 39,600 35,495
79,812 60,395

CURRENT ASSETS
Debtors 6 48,139 362,662
Cash at bank and in hand 51,659 149,936
99,798 512,598
CREDITORS
Amounts falling due within one year 7 70,965 229,442
NET CURRENT ASSETS 28,833 283,156
TOTAL ASSETS LESS CURRENT LIABILITIES 108,645 343,551

CREDITORS
Amounts falling due after more than one year 8 (5,477 ) -

PROVISIONS FOR LIABILITIES (2,846 ) (9,909 )
NET ASSETS 100,322 333,642

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 100,319 333,639
100,322 333,642

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 30 September 2023 and were signed on its behalf by:





J S Sodhi - Director


Hoola Events Ltd (Registered number: 12322696)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Hoola Events 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 have a significant impact on the operations of the company, with 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 company.

The directors have been actively implementing plans 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

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

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Hoola Events Ltd (Registered number: 12322696)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2021 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2022 26,108
Additions 26,810
At 31 December 2022 52,918
AMORTISATION
At 1 January 2022 1,208
Charge for year 11,498
At 31 December 2022 12,706
NET BOOK VALUE
At 31 December 2022 40,212
At 31 December 2021 24,900

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2022 43,383
Additions 33,455
Disposals (24,142 )
At 31 December 2022 52,696
DEPRECIATION
At 1 January 2022 7,888
Charge for year 13,784
Eliminated on disposal (8,576 )
At 31 December 2022 13,096
NET BOOK VALUE
At 31 December 2022 39,600
At 31 December 2021 35,495

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 19,571 164,983
Amounts owed by group undertakings - 100,014
Other debtors 28,568 97,665
48,139 362,662

Hoola Events Ltd (Registered number: 12322696)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Hire purchase contracts 2,817 -
Trade creditors 10,038 39,341
Taxation and social security 46,900 94,598
Other creditors 11,210 95,503
70,965 229,442

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.22 31.12.21
£    £   
Hire purchase contracts 5,477 -

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2022 and 31 December 2021:

31.12.22 31.12.21
£    £   
A W Sandham
Balance outstanding at start of year 50,000 -
Amounts advanced - 50,000
Amounts repaid (50,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 50,000

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £57,500 were paid to the directors .

At the balance sheet date the company was owed £Nil ( 31/12/2021: £14) from Escape Live Services Ltd. The companies have directors in common. In December 2020 the company became a 67% owned subsidiary of Escape Enterprises Limited.

At the balance sheet date the company is owed £Nil (31/12/2021: £100,000) from Escape Enterprises Ltd. Escape Enterprises Ltd is the ultimate parent company.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Escape Enterprises Ltd.