Pixelution Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02536682

PIXELUTION LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 September 2024

PIXELUTION LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 30th SEPTEMBER 2024

Contents	Page

Officers and professional advisers	1

Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	5

PIXELUTION LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

Director	G T Parker

Registered office	Unit 7, Lacre Way
	Letchworth Garden City
	Hertfordshire
	England
	SG6 1NR

Accountants	Colne Valley Business Services LLP t/a Cloke & Co
	Chartered Certified Accountants
	106-107 Dowgate Hill House
	14-16 Dowgate Hill
	London
	EC4R 2SU

PIXELUTION LIMITED

CHARTERED CERTIFIED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PIXELUTION LIMITED

YEAR ENDED 30th SEPTEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pixelution Limited for the year ended 30th September 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the director of Pixelution Limited in accordance with the terms of our engagement letter dated 14th August 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Pixelution Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pixelution Limited and its director for our work or for this report.

It is your duty to ensure that Pixelution Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Pixelution Limited. You consider that Pixelution Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Pixelution Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Colne Valley Business Services LLP t/a Cloke & Co Chartered Certified Accountants

106-107 Dowgate Hill House 14-16 Dowgate Hill London EC4R 2SU

PIXELUTION LIMITED

STATEMENT OF FINANCIAL POSITION

30 September 2024

	2024		2023
Note	£	£	£

FIXED ASSETS

Intangible assets	5	13,624	–
Tangible assets	6	67,356	51,233
		--------	--------
		80,980	51,233

CURRENT ASSETS

Stocks		31,885	24,170
Debtors	7	77,383	237,770
Cash at bank and in hand		96,110	23,435
		---------	---------
		205,378	285,375

CREDITORS: amounts falling due within one year	8	161,192		210,888
		---------		---------
NET CURRENT ASSETS			44,186	74,487
			---------	---------
TOTAL ASSETS LESS CURRENT LIABILITIES			125,166	125,720

CREDITORS: amounts falling due after more than one year	9	7,500	17,500
		---------	---------
NET ASSETS		117,666	108,220
		---------	---------

PIXELUTION LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

30 September 2024

	2024		2023
Note	£	£	£

CAPITAL AND RESERVES

Called up share capital	1,000	1,000
Profit and loss account	116,666	107,220
	---------	---------
SHAREHOLDERS FUNDS	117,666	108,220
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30th September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 16 June 2025 , and are signed on behalf of the board by:

G T Parker
Director

Company registration number: 02536682

PIXELUTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30th SEPTEMBER 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 7, Lacre Way, Letchworth Garden City, Hertfordshire, SG6 1NR, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The turnover shown in the profit and loss account represents the value of sales, exclusive of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably .

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Website & Domain names	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Motor Vehicles	-	20% reducing balance
Furniture & Equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2023: 3 ).

5. Intangible assets

	Website & Domain names
	£
Cost
Additions	17,030
	--------
At 30th September 2024	17,030
	--------
Amortisation
Charge for the year	3,406
	--------
At 30th September 2024	3,406
	--------
Carrying amount
At 30th September 2024	13,624
	--------
At 30th September 2023	–
	--------

6. Tangible assets

	Motor vehicles	Equipment	Total
	£	£	£
Cost
At 1st October 2023	76,495	43,297	119,792
Additions	26,950	1,032	27,982
	---------	--------	---------
At 30th September 2024	103,445	44,329	147,774
	---------	--------	---------
Depreciation
At 1st October 2023	26,938	41,621	68,559
Charge for the year	11,182	677	11,859
	---------	--------	---------
At 30th September 2024	38,120	42,298	80,418
	---------	--------	---------
Carrying amount
At 30th September 2024	65,325	2,031	67,356
	---------	--------	---------
At 30th September 2023	49,557	1,676	51,233
	---------	--------	---------

7. Debtors

	2024	2023
	£	£
Trade debtors	72,909	233,174
Other debtors	4,474	4,596
	--------	---------
	77,383	237,770
	--------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	10,000	10,000
Trade creditors	19,312	45,065
Corporation tax	3,617	6,994
Social security and other taxes	27,969	39,843
Other creditors	346	325
Other creditors	99,948	108,661
	---------	---------
	161,192	210,888
	---------	---------

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	7,500	17,500
	-------	--------

10. Director's advances, credits and guarantees

Included within other creditors is £96,296 ( 2023 - £105,510) due to the Director.

11. Related party transactions

The company is ultimately controlled by the company's director, GT Parker.