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Registration number: 05429795

Prepared for the registrar
Aztec Event Services Limited
Annual Report and Financial Statements
for the Period from 1 January 2025 to 30 April 2025

Aztec Event Services Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Financial Statements | 3 to 13

Aztec Event Services Limited

Company Information

Directors | J D Robson A D Holmes J E L Barnett

Company secretary | J D Robson

Registered office | Unit B Davis Road Industrial Park Davis Road Chessington KT9 1TQ

Auditors | Hazlewoods LLP Staverton Court Staverton Cheltenham GL51 0UX

Aztec Event Services Limited

(Registration number: 05429795)
Balance Sheet as at 30 April 2025

| Note | 30 April 2025 £ | 31 December 2024 £
Fixed assets |  |  |
Tangible assets | 6 | 1,433,827 | 1,469,209
Investments | 7 | 151,063 | 117,063
|  | 1,584,890 | 1,586,272
Current assets |  |  |
Debtors | 8 | 2,151,260 | 1,696,976
Cash at bank and in hand |  | 2,078,064 | 1,175,805
|  | 4,229,324 | 2,872,781
Creditors: Amounts falling due within one year | 9 | (3,185,595) | (1,805,714)
Net current assets |  | 1,043,729 | 1,067,067
Total assets less current liabilities |  | 2,628,619 | 2,653,339
Creditors: Amounts falling due after more than one year | 9 | (395,725) | (567,826)
Provisions | 10 | (100,000) | (96,000)
Deferred tax liabilities | 11 | (301,967) | (322,870)
Provisions for liabilities |  | (401,967) | (418,870)
Net assets |  | 1,830,927 | 1,666,643
Capital and reserves |  |  |
Called up share capital | 14 | 242,494 | 242,494
Share premium reserve |  | 5,000 | 5,000
Capital redemption reserve |  | 15,000 | 15,000
Retained earnings |  | 1,568,433 | 1,404,149
Shareholders' funds |  | 1,830,927 | 1,666,643

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 January 2026 and signed on its behalf by:

J E L Barnett
Director

Aztec Event Services Limited

Notes to the Financial Statements for the Period from 1 January 2025 to 30 April 2025

| 1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit B
Davis Road Industrial Park
Davis Road
Chessington
KT9 1TQ
United Kingdom

| 2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Name of parent of group

These financial statements are consolidated in the financial statements of PixelHouse Group Limited, the company's ultimate parent company.

The financial statements of PixelHouse Group Limited may be obtained from the company's registered office.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Judgements

No significant judgements have been made by management in preparing these financial statements.

Aztec Event Services Limited

Notes to the Financial Statements for the Period from 1 January 2025 to 30 April 2025

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The Company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the Company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 20-25% straight line
Motor vehicles | 20-25% straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Aztec Event Services Limited

Notes to the Financial Statements for the Period from 1 January 2025 to 30 April 2025

Goodwill

Goodwill is amortised over its useful life, which shall not exceed five years if a reliable estimate of the useful life cannot be made.

Intangible assets

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Goodwill | 25% straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.
Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date 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.

Aztec Event Services Limited

Notes to the Financial Statements for the Period from 1 January 2025 to 30 April 2025

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Aztec Event Services Limited

Notes to the Financial Statements for the Period from 1 January 2025 to 30 April 2025

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

| 3 | Staff numbers

The average number of persons employed by the company (including directors) during the period, was 60 (2024 - 52).

Aztec Event Services Limited

Notes to the Financial Statements for the Period from 1 January 2025 to 30 April 2025

| 4 | Taxation

Tax charged/(credited) in the profit and loss account

| 1 January 2025 to 30 April 2025 £ | 1 January 2024 to 31 December 2024 £
Current taxation |  |
UK corporation tax | 108,132 | 191,265
Deferred taxation |  |
Arising from origination and reversal of timing differences | (20,903) | -
Arising from previously unrecognised tax loss, tax credit or temporary difference of prior periods | - | 10,073
Total deferred taxation | (20,903) | 10,073
Tax expense in the income statement | 87,229 | 201,338

| 5 | Intangible assets

| Goodwill £ | Total £
Cost
At 1 January 2025 and 30 April 2025 | 154,909 | 154,909
Amortisation
At 1 January 2025 and 30 April 2025 | 154,909 | 154,909
Carrying amount
At 1 January 2025 and 30 April 2025 | - | -

| 6 | Tangible assets

| Plant and machinery £ | Motor vehicles £ | Total £
Cost
At 1 January 2025 | 3,390,390 | 168,750 | 3,559,140
Additions | 88,865 | - | 88,865
Disposals | (22,049) | - | (22,049)
At 30 April 2025 | 3,457,206 | 168,750 | 3,625,956
Depreciation
At 1 January 2025 | 2,034,894 | 55,037 | 2,089,931
Charge for the year | 113,924 | 7,862 | 121,786
Eliminated on disposal | (19,588) | - | (19,588)
At 30 April 2025 | 2,129,230 | 62,899 | 2,192,129
Carrying amount
At 30 April 2025 | 1,327,976 | 105,851 | 1,433,827
At 31 December 2024 | 1,469,209 | - | 1,469,209

Aztec Event Services Limited

Notes to the Financial Statements for the Period from 1 January 2025 to 30 April 2025

| 7 | Investments

| 30 April 2025 £ | 31 December 2024 £
Investments in subsidiaries | 151,063 | 117,063

Subsidiaries | £
Cost
At 1 January 2025 | 117,063
Additions | 34,000
At 30 April 2025 | 151,063
Carrying amount
At 30 April 2025 | 151,063
At 31 December 2024 | 117,063

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
*denotes indirect holding

Undertaking | Registered office | Holding | Proportion of voting rights and shares held
|  |  | 2025 | 2024
Subsidiary undertakings
Aztec Event Technology Limited | Unit B, Davis Road Industrial Park, Davis Road, Chessington, KT9 1TQ | Ordinary | 100% | 100%
Aztec Events Holdings Limited | Unit B, Davis Road Industrial Park, Davis Road, Chessington, KT9 1TQ | Ordinary | 100% | 100%
Aztec Event Europe S.L.* | Caracas Street 43-45 Local 09, Badalone, Barcelona, Spain, 08918 | Ordinary | 100% | 100%

The principle activity of Aztec Event Technology is technical production services for events. The principle activity for Aztec Event Holding Limited is to parent Aztec Event Europe S.L. who's principle activity is the rental of audiovisual equipment and related services for live events.

Aztec Event Services Limited

Notes to the Financial Statements for the Period from 1 January 2025 to 30 April 2025

| 8 | Debtors

| 30 April 2025 £ | 31 December 2024 £
Trade debtors | 984,953 | 536,951
Receivables from group undertakings | 732,768 | 812,185
Prepayments | 394,350 | 148,760
Other debtors | 39,189 | 199,080
| 2,151,260 | 1,696,976

| 9 | Creditors

| Note | 30 April 2025 £ | 31 December 2024 £
Due within one year |  |  |
Loans and borrowings | 13 | 440,596 | 581,612
Trade creditors |  | 577,103 | 308,481
Taxation and social security |  | 787,454 | 502,480
Accruals and deferred income |  | 1,317,908 | 401,311
Other creditors |  | 62,534 | 11,830
|  | 3,185,595 | 1,805,714

| Note | 30 April 2025 £ | 31 December 2024 £
Due after one year |  |  |
Loans and borrowings | 13 | 395,725 | 567,826

| 10 | Provisions

| Dilapidation provision £ | Total £
At 1 January 2025 | 96,000 | 96,000
Increase in existing provisions | 4,000 | 4,000
At 30 April 2025 | 100,000 | 100,000

The provision represents the best estimate of future cash flows required to settle the obligation.

Aztec Event Services Limited

Notes to the Financial Statements for the Period from 1 January 2025 to 30 April 2025

| 11 | Deferred tax

Deferred tax assets and liabilities

2025 | Liability £
Fixed asset timing differences | 316,654
Short-term timing differences | (14,687)
| 301,967

2024 | Liability £
Fixed asset timing differences | 322,870
| 322,870

| 12 | Obligations under leases and hire purchase contracts

Hire purchase contracts

The total of future minimum lease payments is as follows:

| 30 April 2025 £ | 31 December 2024 £
Not later than one year | 440,596 | 458,342
Later than one year and not later than five years | 395,725 | 531,094
| 836,321 | 989,436

Operating leases

The total of future minimum lease payments is as follows:

| 30 April 2025 £ | 31 December 2024 £
Not later than one year | 316,132 | 346,944
Later than one year and not later than five years | 229,103 | 444,871
| 545,235 | 791,815

The amount of non-cancellable operating lease payments recognised as an expense during the period was £246,581 (2024 - £333,449).

Aztec Event Services Limited

Notes to the Financial Statements for the Period from 1 January 2025 to 30 April 2025

| 13 | Loans and borrowings

Current loans and borrowings

| 30 April 2025 £ | 31 December 2024 £
Bank borrowings | - | 120,000
Hire purchase contracts | 440,596 | 461,612
| 440,596 | 581,612

Non-current loans and borrowings

| 30 April 2025 £ | 31 December 2024 £
Bank borrowings | - | 40,000
Hire purchase contracts | 395,725 | 527,826
| 395,725 | 567,826

| 14 | Share capital

Allotted, called up and fully paid shares

| 30 April 2025 | 31 December 2024
| No. | £ | No. | £
Ordinary of £1 each | 122,494 | 122,494 | 122,494 | 122,494
Ordinary B of £1 each | 45,000 | 45,000 | 45,000 | 45,000
Preference of £1 each | 75,000 | 75,000 | 75,000 | 75,000
| 242,494 | 242,494 | 242,494 | 242,494

| 15 | Financial commitments, guarantees and contingencies

Other financial commitments
At 30 April 2025, a fixed and floating charge is secured over the company's assets in favour of TC Loans Limited as security for term loans in the name of the company's immediate parent company, PixelHouse Holdings Limited. At 30 April 2025, the amount outstanding and maximum exposure to the company is £6,000,000.

| 16 | Related party transactions

Summary of transactions with key management

During the year, the company made a payment of £50,000 to the personal pension scheme of a member of key management personnel. This transaction was made under normal market conditions.

Aztec Event Services Limited

Notes to the Financial Statements for the Period from 1 January 2025 to 30 April 2025

| 17 | Parent and ultimate parent undertaking

Until 4 April 2025, the company was controlled by John Robson. Since that date, Pixelhouse Holdings Limited, a company registered in England and Wales, has been the immediate parent company. The parent company of the smallest and largest group which prepared consolidated financial statements, including these financial statements, is the ultimate parent company, Pixelhouse Group Limited (formerly D.B Systems Holdings Limited).
No one individual controls the Group.

| 18 | Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 5 January 2026 was Scott Lawrence , who signed for and on behalf of Hazlewoods LLP.