Company registration number: 05262460
Unaudited financial statements
for the year ended 31 December 2024
for
Escape Surfboards Limited
Pages for filing with the Registrar
Company registration number: 05262460
Escape Surfboards Limited
Balance sheet
as at 31 December 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 4 4,500 5,000
Tangible assets 5 71 94
4,571 5,094
Current assets
Stocks 46,182 52,374
Debtors 9,187 15,168
Cash at bank and in hand 3,092 1,292
58,461 68,834
Creditors: amounts falling due within one
year 		(94,496) (90,921)
Net current liabilities (36,035) (22,087)
Total assets less current liabilities (31,464) (16,993)
Creditors: Amounts falling due after more
than one year 		(1,052) (4,052)
Provisions for liabilities (3,833) (3,962)
NET LIABILITIES (36,349) (25,007)
Capital and reserves
Called up share capital 100 100
Revaluation reserve 10,000 10,000
Profit and loss account (46,449) (35,107)
TOTAL EQUITY (36,349) (25,007)
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 December 2024.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
1
Company registration number: 05262460
Escape Surfboards Limited
Balance sheet - continued
as at 31 December 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 Profit and loss account has not been delivered to the Registrar.
Signed by:
Mr W Attlee, Director
29 December 2025
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Escape Surfboards Limited
Notes to the financial statements
for the year ended 31 December 2024
1 Company information
Escape Surfboards Limited is a private company registered in England and Wales. Its registered number is 05262460. The company is limited by shares. Its registered office is The Colt House, Trewint Road, Rock, Wadebridge, PL27 6PS.
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 historic cost convention.
Going concern
In preparing these financial statements, the director has assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the director takes into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The director considers that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
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.
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Goodwill -
Computer software - 5% straight line
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Motor vehicles - 25% reducing balance
Computer equipment - 25% straight line
3
Escape Surfboards Limited
Notes to the financial statements - continued
for the year ended 31 December 2024
2 Accounting policies - continued
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the year the average number of employees was 3 (2023 - 3).
4 Intangible assets
Goodwill Other
intangible
assets 		Totals
£ £ £
Cost
At 1 January 2024 5,000 10,000 15,000
At 31 December 2024 5,000 10,000 15,000
Amortisation
At 1 January 2024 5,000 5,000 10,000
Charge for year - 500 500
At 31 December 2024 5,000 5,500 10,500
Net book value
At 31 December 2024 - 4,500 4,500
At 31 December 2023 - 5,000 5,000
5 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 January 2024 12,825
At 31 December 2024 12,825
4
Escape Surfboards Limited
Notes to the financial statements - continued
for the year ended 31 December 2024
5 Tangible fixed assets - continued
Depreciation
At 1 January 2024 12,731
Charge for year 23
At 31 December 2024 12,754
Net book value
At 31 December 2024 71
At 31 December 2023 94
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