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Company Registration No. 13062857 (England and Wales)
UsePixie Software UK Ltd Unaudited accounts for the period from 4 December 2020 to 31 December 2021
UsePixie Software UK Ltd Unaudited accounts Contents
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UsePixie Software UK Ltd Company Information for the period from 4 December 2020 to 31 December 2021
Director
Celso Pinto
Company Number
13062857 (England and Wales)
Registered Office
Withers Llp 3rd Floor, 20 Old Bailey London EC4M 7AN United Kingdom
Accountants
Satori Accounting 120 Woodbrook Derry Northern Ireland BT48 8FF
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UsePixie Software UK Ltd Statement of financial position as at 31 December 2021
2021 
Notes
£ 
Fixed assets
Tangible assets
3,263 
Current assets
Debtors
111,872 
Cash at bank and in hand
1,629,773 
1,741,645 
Creditors: amounts falling due within one year
(90,843)
Net current assets
1,650,802 
Net assets
1,654,065 
Capital and reserves
Called up share capital
160 
Share premium
2,270,921 
Profit and loss account
(617,016)
Shareholders' funds
1,654,065 
For the period ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 August 2022 and were signed on its behalf by
Celso Pinto Director Company Registration No. 13062857
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UsePixie Software UK Ltd Notes to the Accounts for the period from 4 December 2020 to 31 December 2021
1
Statutory information
UsePixie Software UK Ltd is a private company, limited by shares, registered in England and Wales, registration number 13062857. The registered office is Withers Llp, 3rd Floor, 20 Old Bailey, London, EC4M 7AN, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover from customer subscriptions are recognised over the period of the contract. Month-by-month subscriptions are measured based on monthly invoice value. Annual subscriptions are invoiced in advance and recorded as turnover equally over the annual period, with income deferred where appropriate.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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UsePixie Software UK Ltd Notes to the Accounts for the period from 4 December 2020 to 31 December 2021
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straight line
Computer equipment
33% straight line
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Going concern
During the year, the company incurred a loss of £617,016. The loss reflects the fact that this was the company's first year of trading, growing its revenue from a base of £Nil whilst incurring high product development and other start-up costs. The working capital of the company was funded by way of monies introduced in the company in September 2021 via external investors. The board of directors are confident that the company's strategic plans for 2022 and beyond will assist the company by increasing recurring revenue and managing its cost base in order to move the financial results results towards a return to profitability. Based on these assumptions, the financial statements are prepared on a going concern basis.
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 4 December 2020
- 
- 
- 
Additions
605 
3,528 
4,133 
At 31 December 2021
605 
3,528 
4,133 
Depreciation
Charge for the period
84 
786 
870 
At 31 December 2021
84 
786 
870 
Net book value
At 31 December 2021
521 
2,742 
3,263 
5
Debtors: amounts falling due within one year
2021 
£ 
VAT
27,944 
Trade debtors
324 
Accrued income and prepayments
3,812 
Other debtors
79,792 
111,872 
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UsePixie Software UK Ltd Notes to the Accounts for the period from 4 December 2020 to 31 December 2021
6
Creditors: amounts falling due within one year
2021 
£ 
Trade creditors
42,098 
Taxes and social security
8,221 
Other creditors
6,020 
Accruals
6,585 
Deferred income
27,919 
90,843 
7
Share capital
2021 
£ 
Allotted, called up and fully paid:
937,500 Ordinary shares of £0.0001 each
93.75 
225,836 Ordinary shares 'A' of £0.0001 each
22.58 
429,495 Ordinary shares 'B' of £0.0001 each
42.94 
159.27 
Shares issued during the period:
937,500 Ordinary shares of £0.0001 each
93.75 
225,836 Ordinary shares 'A' of £0.0001 each
22.58 
429,495 Ordinary shares 'B' of £0.0001 each
42.94 
159.27 
8
Average number of employees
During the period the average number of employees was 5.
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