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REGISTERED NUMBER: 12123829 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

Escape Live Liverpool Ltd

Escape Live Liverpool Ltd (Registered number: 12123829)






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


Escape Live Liverpool Ltd

Company Information
for the Year Ended 31 December 2022







DIRECTORS: J T Dalziel
J S Sodhi





REGISTERED OFFICE: Escape Live
54 Grafton Street
Coventry
CV1 2HW





REGISTERED NUMBER: 12123829 (England and Wales)





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

Escape Live Liverpool Ltd (Registered number: 12123829)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 11,306 4,707
Tangible assets 5 466,845 339,941
478,151 344,648

CURRENT ASSETS
Debtors 6 28,017 135,082
Cash at bank and in hand 96,286 8,881
124,303 143,963
CREDITORS
Amounts falling due within one year 7 343,645 51,184
NET CURRENT (LIABILITIES)/ASSETS (219,342 ) 92,779
TOTAL ASSETS LESS CURRENT LIABILITIES 258,809 437,427

CREDITORS
Amounts falling due after more than one year 8 (624,500 ) (624,500 )

PROVISIONS FOR LIABILITIES (88,701 ) (65,483 )
NET LIABILITIES (454,392 ) (252,556 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (454,393 ) (252,557 )
(454,392 ) (252,556 )

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


Escape Live Liverpool Ltd (Registered number: 12123829)

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

1. STATUTORY INFORMATION

Escape Live Liverpool 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.

An impairment loss has been recognised in the Income Statement, following an assessment at the Balance Sheet date indicating the recoverable amount was less than its carrying value.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

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

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 - 25% on reducing balance and 10% on 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.


Escape Live Liverpool Ltd (Registered number: 12123829)

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

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2021 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2022 4,707
Additions 9,215
At 31 December 2022 13,922
AMORTISATION
Charge for year 2,616
At 31 December 2022 2,616
NET BOOK VALUE
At 31 December 2022 11,306
At 31 December 2021 4,707

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2022 364,324
Additions 187,363
At 31 December 2022 551,687
DEPRECIATION
At 1 January 2022 24,383
Charge for year 60,459
At 31 December 2022 84,842
NET BOOK VALUE
At 31 December 2022 466,845
At 31 December 2021 339,941

Escape Live Liverpool Ltd (Registered number: 12123829)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 3,849 -
Other debtors 24,168 135,082
28,017 135,082

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors 238,842 4,659
Amounts owed to group undertakings 20,000 20,000
Taxation and social security 10,797 2,136
Other creditors 74,006 24,389
343,645 51,184

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.22 31.12.21
£    £   
Amounts owed to group undertakings 624,500 624,500

9. RELATED PARTY DISCLOSURES

At the balance sheet date the company owes £20,000 (31/12/2021: £20,000) to Escape Live Coventry Ltd. Escape Live Coventry Ltd is a company with directors in common.

At the balance sheet date the company owes £624,500 (31/12/2021: £624,500) to Escape Live Ltd. Escape Live Ltd is a company with directors in common.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Escape Enterprises Ltd.