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Company No: 02254429 (England and Wales)

THE PYRAMID ANGLE LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

THE PYRAMID ANGLE LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

THE PYRAMID ANGLE LIMITED

BALANCE SHEET

As at 31 May 2024
THE PYRAMID ANGLE LIMITED

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 10,273 8,775
10,273 8,775
Current assets
Debtors 4 164,113 234,356
Cash at bank and in hand 178,441 200,480
342,554 434,836
Creditors: amounts falling due within one year 5 ( 150,853) ( 196,386)
Net current assets 191,701 238,450
Total assets less current liabilities 201,974 247,225
Net assets 201,974 247,225
Capital and reserves
Called-up share capital 3,342 3,342
Capital redemption reserve 621 621
Profit and loss account 198,011 243,262
Total shareholder's funds 201,974 247,225

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 financial statements of The Pyramid Angle Limited (registered number: 02254429) were approved and authorised for issue by the Board of Directors on 27 February 2025. They were signed on its behalf by:

R C E Long
Director
THE PYRAMID ANGLE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
THE PYRAMID ANGLE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Pyramid Angle Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 9 Disraeli Road, Putney, SW15 2DR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 9 8

3. Tangible assets

Plant and machinery Office equipment Total
£ £ £
Cost
At 01 June 2023 25,080 49,701 74,781
Additions 0 6,012 6,012
At 31 May 2024 25,080 55,713 80,793
Accumulated depreciation
At 01 June 2023 20,914 45,092 66,006
Charge for the financial year 1,042 3,472 4,514
At 31 May 2024 21,956 48,564 70,520
Net book value
At 31 May 2024 3,124 7,149 10,273
At 31 May 2023 4,166 4,609 8,775

4. Debtors

2024 2023
£ £
Trade debtors 75,988 136,878
Other debtors 88,125 97,478
164,113 234,356

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 43,984 73,105
Amounts owed to Group undertakings 50,876 51,779
Taxation and social security 46,414 61,822
Other creditors 9,579 9,680
150,853 196,386

6. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 56,824 56,824

The total commitment shown above is in relation to a rolling operating lease over business premises with a 12 month notice period.

7. Related party transactions

Transactions with the entity's directors

Advances

R C E & C J Long

The joint Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 per director at the official HMRC rate.

At 1 June 2023, the balance owed by the directors was £68,214. During the year, £136,526 was advanced to the directors, and £139,067 was repaid by the directors. At 31 May 2024, the balance owed by the directors was £65,643.

At 1 June 2022, the balance owed by the directors was £46,349. During the year, £153,319 was advanced to the directors, and £131,454 was repaid by the directors. At 31 May 2023, the balance owed by the directors was £68,214.

8. Ultimate controlling party

The company's immediate parent is Creative Matter London Limited, incorporated in England and Wales. Its registered office address is Lupin Way, Yeovil, Somerset, BA22 8WW.

These financial statements are available upon request from Companies House, Cardiff.