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REGISTERED NUMBER: 06215235 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2024

FOR

PAPER ESCAPE LIMITED

PAPER ESCAPE LIMITED (REGISTERED NUMBER: 06215235)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 6

PAPER ESCAPE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2024







DIRECTORS: A M Hill
M T Knight
J N Mellor





REGISTERED OFFICE: Unit 1
Bowden Lane
Chapel-en-le-Frith
High Peak
SK23 0QF





REGISTERED NUMBER: 06215235 (England and Wales)





ACCOUNTANTS: A.Allen & Son Limited
45 Union Road
New Mills
High Peak
SK22 3EL

PAPER ESCAPE LIMITED (REGISTERED NUMBER: 06215235)

ABRIDGED BALANCE SHEET
30TH SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,663 -
Tangible assets 5 122,169 128,444
123,832 128,444

CURRENT ASSETS
Debtors 108,909 99,494

CREDITORS
Amounts falling due within one year 126,709 120,738
NET CURRENT LIABILITIES (17,800 ) (21,244 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

106,032

107,200

CREDITORS
Amounts falling due after more than one
year

(18,339

)

(32,500

)

PROVISIONS FOR LIABILITIES (30,958 ) (24,405 )
NET ASSETS 56,735 50,295

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 55,735 49,295
56,735 50,295

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2024 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.

PAPER ESCAPE LIMITED (REGISTERED NUMBER: 06215235)

ABRIDGED BALANCE SHEET - continued
30TH SEPTEMBER 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30th September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 17th October 2024 and were signed on its behalf by:




A M Hill - Director



M T Knight - Director


PAPER ESCAPE LIMITED (REGISTERED NUMBER: 06215235)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

1. STATUTORY INFORMATION

Paper Escape Limited 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.

Turnover
Turnover represents net invoiced sale of goods, excluding Value Added Tax.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 15% on reducing balance
Plant and machinery - 25% on reducing balance and 10% on reducing balance
Computer equipment - 25% on cost and Straight line over 3 years

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

PAPER ESCAPE LIMITED (REGISTERED NUMBER: 06215235)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
Additions 2,494
At 30th September 2024 2,494
AMORTISATION
Amortisation for year 831
At 30th September 2024 831
NET BOOK VALUE

At 30th September 2024 1,663

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st October 2023 422,768
Additions 14,077
At 30th September 2024 436,845
DEPRECIATION
At 1st October 2023 294,324
Charge for year 20,352
At 30th September 2024 314,676
NET BOOK VALUE
At 30th September 2024 122,169
At 30th September 2023 128,444

6. RELATED PARTY DISCLOSURES

The company occupies property owned by and let to it by Paper Escape (Property) Limited, a UK registered company under the control of A M Hill who is also a director and the controlling shareholder of Paper Escape Limited.

At 1st October 2023, Paper Escape (Property) Limited owed the company £13.985 on an unsecured interest free basis. Due to a further loan during the year the amount owed at 30th September 2024 is £24,185.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PAPER ESCAPE LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Paper Escape Limited for the year ended 30th September 2024 which comprise the Statement of Income and Retained Earnings, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Paper Escape Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Paper Escape Limited and state those matters that we have agreed to state to the Board of Directors of Paper Escape Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Paper Escape Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Paper Escape Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Paper Escape Limited. You consider that Paper Escape Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Paper Escape Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






A.Allen & Son Limited
45 Union Road
New Mills
High Peak
SK22 3EL


17th October 2024