Registered number
08551708
Vanilla Pixel Ltd
Filleted Accounts
31 December 2024
Vanilla Pixel Ltd
Registered number: 08551708
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 44,503 58,780
Current assets
Debtors 4 13,910 24,500
Cash at bank and in hand 243,432 119,361
257,342 143,861
Creditors: amounts falling due within one year 5 (51,263) (17,896)
Net current assets 206,079 125,965
Net assets 250,582 184,745
Capital and reserves
Called up share capital 2 2
Profit and loss account 250,580 184,743
Shareholders' funds 250,582 184,745
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Julie Postlethwaite
Director
Approved by the board on 26 February 2025
Vanilla Pixel Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2024 7,522 74,645 82,167
Additions 951 - 951
At 31 December 2024 8,473 74,645 83,118
Depreciation
At 1 January 2024 7,214 16,173 23,387
Charge for the year 299 14,929 15,228
At 31 December 2024 7,513 31,102 38,615
Net book value
At 31 December 2024 960 43,543 44,503
At 31 December 2023 308 58,472 58,780
4 Debtors 2024 2023
£ £
Trade debtors 13,910 -
Other debtors - 24,500
13,910 24,500
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 193 -
Taxation and social security costs 50,602 17,311
Other creditors 468 585
51,263 17,896
6 Related party transactions
The joint directors and shareholders operate active loan accounts with the company within which all dividends are declared and drawn upon as required.
A £24,500 loan that was outstanding from Git Studio Limited (125500523) which is are under the control of the directors and shareholders was written off in the year as uncollectable.
Included within other creditors is a balance of £256 (2023 £374), owed by the Company to a Director. No interest is charged on this balance and is repayable on demand.
7 Controlling party
The Company is wholly under the control of its joint Directors and Shareholders.
8 Other information
Vanilla Pixel Ltd is a private company limited by shares and incorporated in England. Its registered office is:
The Old Bakehouse
Downs Park East
Westbury Park
Bristol
BS6 7QD
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