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Registration number: 06597027

Pixel Builders Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Pixel Builders Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Pixel Builders Limited

(Registration number: 06597027)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

55,374

14,081

Current assets

 

Debtors

6

217,053

151,209

Cash at bank and in hand

 

106,950

188,731

 

324,003

339,940

Creditors: Amounts falling due within one year

7

(169,839)

(142,703)

Net current assets

 

154,164

197,237

Total assets less current liabilities

 

209,538

211,318

Creditors: Amounts falling due after more than one year

7

(44,471)

(14,973)

Provisions for liabilities

(10,521)

(2,675)

Net assets

 

154,546

193,670

Capital and reserves

 

Called up share capital

1,800

1,800

Retained earnings

152,746

191,870

Shareholders' funds

 

154,546

193,670

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 19 November 2024 and signed on its behalf by:
 

Mr A Ackroyd
Company secretary and director

Mr M Hoyle
Director

Mr M Oates
Director

     
 

Pixel Builders Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Tower Court
Armley Road
Leeds
LS12 2LY

These financial statements were authorised for issue by the Board on 19 November 2024.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Pixel Builders Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

33% Straight line

Furniture and Fittings

33% Straight line

Leasehold Improvements

10% Straight line

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2023 - 17).

 

Pixel Builders Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

12,106

7,157

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

-

77,534

77,534

Additions

37,604

15,794

53,398

Disposals

-

(372)

(372)

At 31 May 2024

37,604

92,956

130,560

Depreciation

At 1 June 2023

-

63,453

63,453

Charge for the year

1,454

10,652

12,106

Eliminated on disposal

-

(373)

(373)

At 31 May 2024

1,454

73,732

75,186

Carrying amount

At 31 May 2024

36,150

19,224

55,374

At 31 May 2023

-

14,081

14,081

Included within the net book value of land and buildings above is £36,150 (2023 - £Nil) in respect of short leasehold land and buildings.
 

6

Debtors

Current

2024
£

2023
£

Trade debtors

122,247

60,510

Prepayments

16,130

7,391

Other debtors

78,676

83,308

 

217,053

151,209

 

Pixel Builders Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

36,310

25,178

Trade creditors

 

21,465

13,848

Taxation and social security

 

83,781

81,246

Accruals and deferred income

 

22,230

22,230

Other creditors

 

6,053

201

 

169,839

142,703

 

Pixel Builders Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

44,471

14,973

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

44,471

14,973

Current loans and borrowings

2024
£

2023
£

Bank borrowings

13,754

7,301

Other borrowings

22,556

17,877

36,310

25,178