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REGISTERED NUMBER: 09824878 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Escape Asylum Ltd

Escape Asylum Ltd (Registered number: 09824878)

Contents of the Financial Statements
for the Year Ended 31 October 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Escape Asylum Ltd

Company Information
for the Year Ended 31 October 2023







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

Escape Asylum Ltd (Registered number: 09824878)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,694 38,694

CURRENT ASSETS
Debtors 5 10,940 10,940

CREDITORS
Amounts falling due within one year 6 119,218 119,218
NET CURRENT LIABILITIES (108,278 ) (108,278 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(69,584

)

(69,584

)

CREDITORS
Amounts falling due after more than one
year

7

41,712

41,712
NET LIABILITIES (111,296 ) (111,296 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (111,396 ) (111,396 )
SHAREHOLDERS' FUNDS (111,296 ) (111,296 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

Escape Asylum Ltd (Registered number: 09824878)

Balance Sheet - continued
31 October 2023


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 July 2024 and were signed on its behalf by:





D Walford - Director


Escape Asylum Ltd (Registered number: 09824878)

Notes to the Financial Statements
for the Year Ended 31 October 2023


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.

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 - 15% on reducing balance

Taxation
Taxation for the year comprises current which 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 88,102
DEPRECIATION
At 1 November 2022
and 31 October 2023 49,408
NET BOOK VALUE
At 31 October 2023 38,694
At 31 October 2022 38,694

Escape Asylum Ltd (Registered number: 09824878)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Other debtors 9,934 9,934
VAT 1,006 1,006
10,940 10,940

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts (see note 8) 18,486 18,486
Amounts owed to associates 20,891 20,891
Corporation Tax 4,915 4,915
Social security and other taxes 14,296 14,296
Other creditors 3,699 3,699
Directors' current accounts 55,619 55,619
Accrued expenses 1,312 1,312
119,218 119,218

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans (see note 8) 41,712 41,712

8. LOANS

An analysis of the maturity of loans is given below:

31.10.23 31.10.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 18,486 18,486

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 31,712 31,712

9. GOING CONCERN

In 2019, the company moved into new premises as part of an expansion. The new premises encountered severe ongoing flooding issues caused by Severn Trent. This forced the business to close for 6 months in 2019 and 2020. Severn Trent fixed the issue on 15th March 2020 but the claim for compensation has not yet been settled. The director's believe that the company will return to profitability when it restarts trading following the settlement of the claim. Accordingly, the accounts have been prepared on a going concern basis.