Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 07878352 Mr Pietro Saccomani Mr Vitor Marcellino Mr Abshir Farah iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07878352 2022-12-31 07878352 2023-12-31 07878352 2023-01-01 2023-12-31 07878352 frs-core:CurrentFinancialInstruments 2023-12-31 07878352 frs-core:Non-currentFinancialInstruments 2023-12-31 07878352 frs-core:ComputerEquipment 2023-12-31 07878352 frs-core:ComputerEquipment 2023-01-01 2023-12-31 07878352 frs-core:ComputerEquipment 2022-12-31 07878352 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 07878352 frs-core:FurnitureFittings 2023-12-31 07878352 frs-core:FurnitureFittings 2023-01-01 2023-12-31 07878352 frs-core:FurnitureFittings 2022-12-31 07878352 frs-core:OtherResidualIntangibleAssets 2023-12-31 07878352 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 07878352 frs-core:OtherResidualIntangibleAssets 2022-12-31 07878352 frs-core:ShareCapital 2023-12-31 07878352 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 07878352 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07878352 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 07878352 frs-bus:SmallEntities 2023-01-01 2023-12-31 07878352 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07878352 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07878352 frs-bus:Director1 2023-01-01 2023-12-31 07878352 frs-bus:Director2 2023-01-01 2023-12-31 07878352 frs-bus:Director3 2023-01-01 2023-12-31 07878352 frs-core:CurrentFinancialInstruments 1 2023-12-31 07878352 frs-core:CurrentFinancialInstruments 5 2023-12-31 07878352 frs-countries:EnglandWales 2023-01-01 2023-12-31 07878352 2021-12-31 07878352 2022-12-31 07878352 2022-01-01 2022-12-31 07878352 frs-core:CurrentFinancialInstruments 2022-12-31 07878352 frs-core:Non-currentFinancialInstruments 2022-12-31 07878352 frs-core:ShareCapital 2022-12-31 07878352 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 07878352 frs-core:CurrentFinancialInstruments 1 2022-12-31 07878352 frs-core:CurrentFinancialInstruments 5 2022-12-31
Registered number: 07878352
Fifty Pixels Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 07878352
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 3,617
Tangible Assets 5 1,139 1,805
1,139 5,422
CURRENT ASSETS
Debtors 6 106,026 61,711
Cash at bank and in hand 643,569 581,016
749,595 642,727
Creditors: Amounts Falling Due Within One Year 7 (245,650 ) (224,027 )
NET CURRENT ASSETS (LIABILITIES) 503,945 418,700
TOTAL ASSETS LESS CURRENT LIABILITIES 505,084 424,122
NET ASSETS 505,084 424,122
CAPITAL AND RESERVES
Called up share capital 8 100 100
Income Statement 504,984 424,022
SHAREHOLDERS' FUNDS 505,084 424,122
Page 1
Page 2
For the year ending 31 December 2023 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Pietro Saccomani
Director
10/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Fifty Pixels Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07878352 . The registered office is 209 High Road, London, N2 8AN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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 is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets consist of Goodwill and Intelectual property rights.This  is amortised to income statement over its estimated economic life of 3 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% on a straight-line basis
Computer Equipment 20% on a straight line basis
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
No provision has been made for deferred tax in the current year as the timing differences are not considered to be material.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 3)
3 3
4. Intangible Assets
Other
£
Cost
As at 1 January 2023 10,850
As at 31 December 2023 10,850
Amortisation
As at 1 January 2023 7,233
Provided during the period 3,617
As at 31 December 2023 10,850
Net Book Value
As at 31 December 2023 -
As at 1 January 2023 3,617
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 1,954 12,939 14,893
As at 31 December 2023 1,954 12,939 14,893
Depreciation
As at 1 January 2023 1,954 11,134 13,088
Provided during the period - 666 666
As at 31 December 2023 1,954 11,800 13,754
Net Book Value
As at 31 December 2023 - 1,139 1,139
As at 1 January 2023 - 1,805 1,805
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 6,598 -
Prepayments and accrued income 1,518 3,893
Loan to Mixbloom Ltd 75,729 40,000
83,845 43,893
Due after more than one year
Loan to Canada Corp 22,181 17,818
106,026 61,711
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 10,608 10,641
Corporation tax 95,411 68,890
VAT 3,986 6,372
General clients' account 10,136 9,881
Accruals and deferred income 125,499 126,805
Directors' loan accounts 10 1,438
245,650 224,027
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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