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Registered number: 10625776
Proper Pixel Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
PJM Accountancy
Chartered Accountants
Grovetown Barn
Yeolmbridge
Launceston
Cornwall
PL15 8NH
Contents
Page
Company Information 1
Accountants' Report 2
Balance Sheet 3
Statement of Changes in Equity 4
Notes to the Financial Statements 5—7
Page 1
Company Information
Director Mr Gareth Knight
Company Number 10625776
Registered Office 13 Highfield Park Road
Launceston
Cornwall
PL15 7DX
Accountants PJM Accountancy
Chartered Accountants
Grovetown Barn
Yeolmbridge
Launceston
Cornwall
PL15 8NH
Page 1
Page 2
Accountants' Report
Chartered Accountants' report to the director on the preparation of the unaudited statutory accounts of Proper Pixel Limited For The Year Ended 31 March 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Proper Pixel Limited For The Year Ended 31 March 2025 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of Proper Pixel Limited , as a body, in accordance with the terms of our engagement letter dated 14 June 2024. Our work has been undertaken solely to prepare for your approval the accounts of Proper Pixel Limited and state those matters that we have agreed to state to the director of Proper Pixel Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Proper Pixel Limited and its director, as a body, for our work or for this report.
It is your duty to ensure that Proper Pixel Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Proper Pixel Limited . You consider that Proper Pixel Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Proper Pixel 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 financial statements.
25 June 2025
PJM Accountancy
Chartered Accountants
Grovetown Barn
Yeolmbridge
Launceston
Cornwall
PL15 8NH
Page 2
Page 3
Balance Sheet
Registered number: 10625776
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,719 3,932
1,719 3,932
CURRENT ASSETS
Debtors 5 2,094 -
Cash at bank and in hand 570 8,456
2,664 8,456
Creditors: Amounts Falling Due Within One Year 6 (2,128 ) (5,467 )
NET CURRENT ASSETS (LIABILITIES) 536 2,989
TOTAL ASSETS LESS CURRENT LIABILITIES 2,255 6,921
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (327 ) (747 )
NET ASSETS 1,928 6,174
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 1,926 6,172
SHAREHOLDERS' FUNDS 1,928 6,174
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Gareth Knight
Director
25 June 2025
The notes on pages 5 to 7 form part of these financial statements.
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Page 4
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 April 2023 2 24,587 24,589
Profit for the year and total comprehensive income - 10,585 10,585
Dividends paid - (29,000) (29,000)
As at 31 March 2024 and 1 April 2024 2 6,172 6,174
Profit for the year and total comprehensive income - 3,317 3,317
Dividends paid - (7,563) (7,563)
As at 31 March 2025 2 1,926 1,928
Page 4
Page 5
Notes to the Financial Statements
1. General Information
Proper Pixel Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10625776 . The registered office is 13 Highfield Park Road, Launceston, Cornwall, PL15 7DX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% straight line
Computer Equipment 25% straight line
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
1 1
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2024 158 11,270 11,428
Disposals - (750 ) (750 )
As at 31 March 2025 158 10,520 10,678
Depreciation
As at 1 April 2024 96 7,400 7,496
Provided during the period 39 2,052 2,091
Disposals - (628 ) (628 )
As at 31 March 2025 135 8,824 8,959
Net Book Value
As at 31 March 2025 23 1,696 1,719
As at 1 April 2024 62 3,870 3,932
5. Debtors
2025 2024
£ £
Due within one year
Prepayments and accrued income 2,000 -
VAT 94 -
2,094 -
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 55 -
Corporation tax 1,173 2,709
Other taxes and social security - 127
VAT - 1,620
Accruals and deferred income 900 900
Director's loan account - 111
2,128 5,467
7. Deferred Taxation
The provision for deferred tax is made up as follows:
2025 2024
£ £
Accelerated capital allowances 327 747
Page 6
Page 7
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 2 2
Page 7