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Company Registration No. 12480298 (England and Wales)
Pixham Investment Limited Unaudited accounts for the year ended 29 February 2024
Pixham Investment Limited Unaudited accounts Contents
Page
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Pixham Investment Limited Company Information for the year ended 29 February 2024
Directors
Ikechukwu Ifeaka Nwangwu Ayodamola Olayiwola Ojo
Company Number
12480298 (England and Wales)
Registered Office
106 APEX APARTMENTS IFIELD ROAD CRAWLEY RH11 7PD ENGLAND
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Pixham Investment Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
524 
839 
Investment property
132,000 
114,000 
132,524 
114,839 
Current assets
Cash at bank and in hand
46,868 
52,266 
Creditors: amounts falling due within one year
(47,319)
(47,271)
Net current (liabilities)/assets
(451)
4,995 
Total assets less current liabilities
132,073 
119,834 
Creditors: amounts falling due after more than one year
(105,748)
(111,581)
Provisions for liabilities
Deferred tax
(5,990)
(2,570)
Net assets
20,335 
5,683 
Capital and reserves
Called up share capital
1 
1 
Revaluation reserve
25,537 
10,957 
Profit and loss account
(5,203)
(5,275)
Shareholders' funds
20,335 
5,683 
For the year ending 29 February 2024 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 directors acknowledge their 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 of Directors and authorised for issue on 4 September 2024 and were signed on its behalf by
Ikechukwu Ifeaka Nwangwu Director Company Registration No. 12480298
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Pixham Investment Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Pixham Investment Limited is a private company, limited by shares, registered in England and Wales, registration number 12480298. The registered office is 106 APEX APARTMENTS IFIELD ROAD, CRAWLEY, RH11 7PD, ENGLAND.
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 remained unchanged from the previous year, and also 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.
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.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
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 accounts. 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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:
Computer equipment
25% Straight Line
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Pixham Investment Limited Notes to the Accounts for the year ended 29 February 2024
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 March 2023
1,259 
At 29 February 2024
1,259 
Depreciation
At 1 March 2023
420 
Charge for the year
315 
At 29 February 2024
735 
Net book value
At 29 February 2024
524 
At 28 February 2023
839 
5
Investment property
2024 
£ 
Fair value at 1 March 2023
114,000 
Net gain from fair value adjustments
18,000 
At 29 February 2024
132,000 
Investment property has been revalued as per current market prices during the year to £114,000.
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
6,950 
6,951 
Loans from directors
40,044 
40,045 
Accruals
325 
275 
47,319 
47,271 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
105,748 
111,581 
8
Loans to directors
The balance on the directors loan account is £40,045 owed to the directors at 28/02/24 (£40,045 at 28/02/23). This is an interest free loan, repayable on demand.
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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