Silverfin false 31/12/2021 31/12/2021 01/01/2021 Mr A J Lavender 30/04/2012 Dr S J Lavender 30/04/2012 15 August 2022 The principal activity of the Company during the financial year is that of the provision of earth observation and environmental consultancy services. 08051333 2021-12-31 08051333 bus:Director1 2021-12-31 08051333 bus:Director2 2021-12-31 08051333 2020-12-31 08051333 core:CurrentFinancialInstruments 2021-12-31 08051333 core:CurrentFinancialInstruments 2020-12-31 08051333 core:ShareCapital 2021-12-31 08051333 core:ShareCapital 2020-12-31 08051333 core:RetainedEarningsAccumulatedLosses 2021-12-31 08051333 core:RetainedEarningsAccumulatedLosses 2020-12-31 08051333 core:FurnitureFittings 2020-12-31 08051333 core:OfficeEquipment 2020-12-31 08051333 core:FurnitureFittings 2021-12-31 08051333 core:OfficeEquipment 2021-12-31 08051333 bus:OrdinaryShareClass1 2021-12-31 08051333 2021-01-01 2021-12-31 08051333 bus:FullAccounts 2021-01-01 2021-12-31 08051333 bus:SmallEntities 2021-01-01 2021-12-31 08051333 bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 08051333 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 08051333 bus:Director1 2021-01-01 2021-12-31 08051333 bus:Director2 2021-01-01 2021-12-31 08051333 core:FurnitureFittings core:TopRangeValue 2021-01-01 2021-12-31 08051333 core:OfficeEquipment core:TopRangeValue 2021-01-01 2021-12-31 08051333 2020-01-01 2020-12-31 08051333 core:FurnitureFittings 2021-01-01 2021-12-31 08051333 core:OfficeEquipment 2021-01-01 2021-12-31 08051333 bus:OrdinaryShareClass1 2021-01-01 2021-12-31 08051333 bus:OrdinaryShareClass1 2020-01-01 2020-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08051333 (England and Wales)

PIXALYTICS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2021
Pages for filing with the registrar

PIXALYTICS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2021

Contents

PIXALYTICS LIMITED

BALANCE SHEET

As at 31 December 2021
PIXALYTICS LIMITED

BALANCE SHEET (continued)

As at 31 December 2021
Note 2021 2020
£ £
Fixed assets
Tangible assets 3 995 2,632
995 2,632
Current assets
Stocks 448 448
Debtors 4 50,741 66,820
Cash at bank and in hand 129,533 80,187
180,722 147,455
Creditors
Amounts falling due within one year 5 ( 42,631) ( 47,285)
Net current assets 138,091 100,170
Total assets less current liabilities 139,086 102,802
Provisions for liabilities 11,579 9,163
Net assets 150,665 111,965
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 150,565 111,865
Total shareholders' funds 150,665 111,965

For the financial year ending 31 December 2021 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Pixalytics Limited (registered number: 08051333) were approved and authorised for issue by the Board of Directors on 15 August 2022. They were signed on its behalf by:

Mr A J Lavender
Director
PIXALYTICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2021
PIXALYTICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2021
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Pixalytics Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Plymouth Science Park 1 Davy Road, Derriford, Plymouth, PL6 8BX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Fixtures and fittings 5 years straight line
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2021 2020
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 4

3. Tangible assets

Fixtures and fittings Office equipment Total
£ £ £
Cost
At 01 January 2021 1,837 15,729 17,566
At 31 December 2021 1,837 15,729 17,566
Accumulated depreciation
At 01 January 2021 1,598 13,336 14,934
Charge for the financial year 237 1,400 1,637
At 31 December 2021 1,835 14,736 16,571
Net book value
At 31 December 2021 2 993 995
At 31 December 2020 239 2,393 2,632

4. Debtors

2021 2020
£ £
Trade debtors 20,711 51,568
Corporation tax 27,091 13,012
Other debtors 2,939 2,240
50,741 66,820

5. Creditors: amounts falling due within one year

2021 2020
£ £
Trade creditors 378 1,802
Other creditors 32,939 33,010
Other taxation and social security 9,314 12,473
42,631 47,285

6. Called-up share capital

2021 2020
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each (2020: nil shares) 100 0