True Pixel Ltd
Registered number: 04225020
Statement of Financial Position
as at 30 April 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 4 2,927 7,821
Current assets
Stocks 50 900
Debtors 5 51,425 68,699
Cash at bank and in hand 45,594 58,549
97,069 128,148
Creditors: amounts falling due within one year 6 (29,510) (45,188)
Net current assets 67,559 82,960
Total assets less current liabilities 70,486 90,781
Provisions for liabilities (613) (1,803)
Net assets 69,873 88,978
Capital and reserves
Called up share capital 6 6
Profit and loss account 69,867 88,972
Shareholders' funds 69,873 88,978
The director is 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 director acknowledges his 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 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.
Mr J Earl
Director
Approved by the board on 25 June 2025
True Pixel Ltd
Notes to the Accounts
for the year ended 30 April 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
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 25% reducing balance
Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction 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. 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.
2 Employees and directors 2025 2024
Number Number
Average number of directors and persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2024 64,000
At 30 April 2025 64,000
Amortisation
At 1 May 2024 64,000
At 30 April 2025 64,000
Net book value
At 30 April 2025 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Fixtures and Fittings Total
£ £ £
Cost
At 1 May 2024 94,254 20,236 114,490
Additions - 1,200 1,200
Disposals (88,965) (20,236) (109,201)
At 30 April 2025 5,289 1,200 6,489
Depreciation
At 1 May 2024 88,672 17,996 106,668
Charge for the year 575 (17,996) (17,421)
On disposals (85,685) - (85,685)
At 30 April 2025 3,562 - 3,562
Net book value
At 30 April 2025 1,727 1,200 2,927
At 30 April 2024 5,582 2,240 7,821
5 Debtors 2025 2024
£ £
Trade debtors 51,075 62,188
Prepayments 350 4,711
Other debtors - 1,800
51,425 68,699
6 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 3,562 2,499
Accruals 3,155 2,936
Corporation tax 14,130 25,069
Other taxes and social security costs 8,363 14,414
Other creditors 300 270
29,510 45,188
7 Other information
True Pixel Ltd is a private company limited by shares and incorporated in England. Its registered office is:
269 Farnborough Road
Farnborough
Hampshire
GU14 7LY
True Pixel Ltd 04225020 false 2024-05-01 2025-04-30 2025-04-30 VT Final Accounts April 2025 Mr J Earl No description of principal activity 04225020 2023-05-01 2024-04-30 04225020 core:WithinOneYear 2024-04-30 04225020 core:ShareCapital 2024-04-30 04225020 core:RetainedEarningsAccumulatedLosses 2024-04-30 04225020 2024-05-01 2025-04-30 04225020 bus:PrivateLimitedCompanyLtd 2024-05-01 2025-04-30 04225020 bus:AuditExemptWithAccountantsReport 2024-05-01 2025-04-30 04225020 bus:Director40 2024-05-01 2025-04-30 04225020 1 2024-05-01 2025-04-30 04225020 2 2024-05-01 2025-04-30 04225020 core:PlantMachinery 2024-05-01 2025-04-30 04225020 core:Vehicles 2024-05-01 2025-04-30 04225020 countries:England 2024-05-01 2025-04-30 04225020 bus:FRS102 2024-05-01 2025-04-30 04225020 bus:FilletedAccounts 2024-05-01 2025-04-30 04225020 2025-04-30 04225020 core:WithinOneYear 2025-04-30 04225020 core:ShareCapital 2025-04-30 04225020 core:RetainedEarningsAccumulatedLosses 2025-04-30 04225020 core:Goodwill 2025-04-30 04225020 core:PlantMachinery 2025-04-30 04225020 core:Vehicles 2025-04-30 04225020 2024-04-30 04225020 core:Goodwill 2024-04-30 04225020 core:PlantMachinery 2024-04-30 04225020 core:Vehicles 2024-04-30 iso4217:GBP xbrli:pure