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REGISTERED NUMBER: 03828076 (England and Wales)



















Financial Statements

for the Year Ended 31 December 2024

for

PXtech Limited

PXtech Limited (Registered number: 03828076)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PXtech Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Richard Dorf
Peter Hughes
Amanda Gregson
Christopher Paul Hardy
Ian Keith Neal





REGISTERED OFFICE: 50 Canal Street
Derby
DE1 2RJ





REGISTERED NUMBER: 03828076 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

PXtech Limited (Registered number: 03828076)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 106,875 129,375
Tangible assets 5 157,377 162,712
Investments 6 100 100
264,352 292,187

CURRENT ASSETS
Stocks 56,461 59,542
Debtors 7 494,315 452,781
Cash at bank 430,135 386,828
980,911 899,151
CREDITORS
Amounts falling due within one year 8 291,450 367,146
NET CURRENT ASSETS 689,461 532,005
TOTAL ASSETS LESS CURRENT
LIABILITIES

953,813

824,192

CAPITAL AND RESERVES
Called up share capital 820 820
Retained earnings 10 952,993 823,372
SHAREHOLDERS' FUNDS 953,813 824,192

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PXtech Limited (Registered number: 03828076)

Balance Sheet - continued
31 December 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2025 and were signed on its behalf by:





Ian Keith Neal - Director


PXtech Limited (Registered number: 03828076)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

PXtech Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about PXtech Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax. Turnover is recognised in the period in which the goods and services were provided.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Wil-U hardware - Straight line over 3 years
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for slow moving and obsolete items.

Cost represents the invoiced cost of materials and parts on a first in first out basis and an appropriate amount of fixed and variable overheads.

Deferred tax
Provision is made at current rates for taxation deferred in respect of all timing differences.

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

PXtech Limited (Registered number: 03828076)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 28 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024
and 31 December 2024 239,167
AMORTISATION
At 1 January 2024 109,792
Charge for year 22,500
At 31 December 2024 132,292
NET BOOK VALUE
At 31 December 2024 106,875
At 31 December 2023 129,375

5. TANGIBLE FIXED ASSETS
Fixtures
Wil-U Plant and and Computer
hardware machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 341,585 2,930 70,049 278,554 693,118
Additions 93,930 - - 7,228 101,158
Disposals (10,454 ) - - - (10,454 )
At 31 December 2024 425,061 2,930 70,049 285,782 783,822
DEPRECIATION
At 1 January 2024 182,071 2,929 69,995 275,411 530,406
Charge for year 102,177 - 54 3,339 105,570
Eliminated on disposal (9,531 ) - - - (9,531 )
At 31 December 2024 274,717 2,929 70,049 278,750 626,445
NET BOOK VALUE
At 31 December 2024 150,344 1 - 7,032 157,377
At 31 December 2023 159,514 1 54 3,143 162,712

6. FIXED ASSET INVESTMENTS

The company's investments at the Balance Sheet date in the share capital of Wil-U Solutions Ltd is £100 in Ordinary Shares of £1 which represents a 100% holding.

PXtech Limited (Registered number: 03828076)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 252,178 303,170
Amounts owed by parent 174,115 83,467
Amounts owed by subsidiary undertaking 84 84
Other debtors 6,080 1,038
Prepayments 61,858 65,022
494,315 452,781

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 47,321 27,577
Tax 47,041 25,659
Social security and other taxes 57,586 76,743
Other creditors 47,752 47,730
Accruals and deferred income 91,750 189,437
291,450 367,146

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 34,252 32,000
Between one and five years 137,011 128,000
In more than five years 34,252 64,000
205,515 224,000

10. RESERVES
Retained
earnings
£   

At 1 January 2024 823,372
Profit for the year 129,621
At 31 December 2024 952,993