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REGISTERED NUMBER: SC487991 (Scotland)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

Escapespace Ltd

Escapespace Ltd (Registered number: SC487991)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Escapespace Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTOR: Mr A G Donaldson





REGISTERED OFFICE: 54 Dalry Road
Edinburgh
EH11 2BA





REGISTERED NUMBER: SC487991 (Scotland)





ACCOUNTANTS: Cowan & Partners Limited
60 Constitution Street
Edinburgh
EH6 6RR

Escapespace Ltd (Registered number: SC487991)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 251,239 186,922

CURRENT ASSETS
Stocks 1,322 1,209
Debtors 5 113,479 29,326
Cash at bank and in hand 28,134 150,461
142,935 180,996
CREDITORS
Amounts falling due within one year 6 81,004 67,071
NET CURRENT ASSETS 61,931 113,925
TOTAL ASSETS LESS CURRENT
LIABILITIES

313,170

300,847

CREDITORS
Amounts falling due after more than one year 7 (57,750 ) (90,750 )

PROVISIONS FOR LIABILITIES 8 (62,277 ) (46,080 )
NET ASSETS 193,143 164,017

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 192,143 163,017
SHAREHOLDERS' FUNDS 193,143 164,017

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Escapespace Ltd (Registered number: SC487991)

Balance Sheet - continued
31 October 2024


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 director and authorised for issue on 30 January 2025 and were signed by:





Mr A G Donaldson - Director


Escapespace Ltd (Registered number: SC487991)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Escapespace Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 sales of services, excluding value added tax. The company's policy is to recognise a sale when the company obtains the right to consideration.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

At the balance sheet date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks
Stocks are stated 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 stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial
assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Bank and other loans are shown at amortised cost, with interest and up front charges in connection with the loans being allocated to accounting periods by applying the effective interest rate method.

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.


Escapespace Ltd (Registered number: SC487991)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Bank and other loans are shown at amortised cost, with interest and up front charges in connection with the loans being allocated to accounting periods by applying the effective interest rate method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2023 - 30 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property fittings Totals
£    £    £   
COST
At 1 November 2023 52,841 237,378 290,219
Additions 27,437 120,626 148,063
At 31 October 2024 80,278 358,004 438,282
DEPRECIATION
At 1 November 2023 16,551 86,746 103,297
Charge for year 15,932 67,814 83,746
At 31 October 2024 32,483 154,560 187,043
NET BOOK VALUE
At 31 October 2024 47,795 203,444 251,239
At 31 October 2023 36,290 150,632 186,922

Escapespace Ltd (Registered number: SC487991)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Munson Limited 102,809 10,254
Other debtors 10,670 19,072
113,479 29,326

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 33,000 33,000
Taxation and social security 29,664 29,486
Other creditors 18,340 4,585
81,004 67,071

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans 57,750 90,750

8. PROVISIONS FOR LIABILITIES
31.10.24 31.10.23
£    £   
Deferred tax
Accelerated capital allowances 62,277 46,080

Deferred
tax
£   
Balance at 1 November 2023 46,080
Provided during year 16,197
Balance at 31 October 2024 62,277