Company registration number 07601334 (England and Wales)
PIXAPRO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
PAGES FOR FILING WITH REGISTRAR
PIXAPRO LIMITED
COMPANY INFORMATION
Director
Mr Y Wu
Company number
07601334
Registered office
48 Brick Kiln Street
Brierley Hill
West Midlands
DY5 1JG
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
HSBC Bank Plc
1 Great Cornbow
Halesowen
West Midlands
B63 3AD
PIXAPRO LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
PIXAPRO LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PIXAPRO LIMITED FOR THE YEAR ENDED 30 JUNE 2025
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pixapro Limited for the year ended 30 June 2025 which comprise, the balance sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the b oard of d irectors of Pixapro Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pixapro Limited and state those matters that we have agreed to state to the b oard of d irectors of Pixapro 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 Pixapro Limited and its b oard of d irectors as a body, for our work or for this report.

It is your duty to ensure that Pixapro 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 Pixapro Limited. You consider that Pixapro 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 Pixapro 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 f inancial statements.

Ormerod Rutter Limited
21 October 2025
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
PIXAPRO LIMITED
BALANCE SHEET
AS AT
30 JUNE 2025
30 June 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
38,086
45,805
Tangible assets
3
439,169
140,610
477,255
186,415
Current assets
Stocks
2,261,959
2,477,601
Debtors
4
209,240
299,762
Cash at bank and in hand
82,398
245,799
2,553,597
3,023,162
Creditors: amounts falling due within one year
5
(1,036,775)
(929,755)
Net current assets
1,516,822
2,093,407
Total assets less current liabilities
1,994,077
2,279,822
Creditors: amounts falling due after more than one year
6
(1,125,623)
(1,461,258)
Provisions for liabilities
8
(31,855)
(27,275)
Net assets
836,599
791,289
Capital and reserves
Called up share capital
9
1
1
Profit and loss reserves
836,598
791,288
Total equity
836,599
791,289

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

PIXAPRO LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2025
30 June 2025
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 21 October 2025
Mr Y Wu
Director
Company registration number 07601334 (England and Wales)
PIXAPRO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 4 -
1
Accounting policies
Company information

Pixapro Limited is a private company limited by shares incorporated in England and Wales. The registered office is 48 Brick Kiln Street, Brierley Hill, West Midlands, England, DY5 1JG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website development
over 5 years
Trademark
Not provided
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Improvements to property
Not provided
Plant and equipment
33% on cost and 20% on reducing balance
Fixtures and fittings
15% on reducing balance
Computer equipment
33% on cost
Motor vehicles
25% on reducing balance
PIXAPRO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 5 -

No depreciation is provided on leasehold improvements. This treatment may be a departure from the requirements of companies Act 2006 concerning depreciation of fixed assets, however, the company follows a program of regular refurbishment and maintenance of its properties, which includes the reinstatement of the fabric of the buildings where necessary in order to maintain them to a high standard. Accordingly, in the opinion of the director, any element of depreciation would be immaterial and no provision has been made, as the residual value would be in excess of cost.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

PIXAPRO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 6 -
1.9
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.10
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
24
16
PIXAPRO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 7 -
3
Tangible fixed assets
Improvements to property
Plant and equipment
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 July 2024
11,400
138,439
83,570
12,858
55,097
301,364
Additions
-
0
392,567
10,081
4,904
-
0
407,552
At 30 June 2025
11,400
531,006
93,651
17,762
55,097
708,916
Depreciation and impairment
At 1 July 2024
-
0
56,472
59,564
10,290
34,428
160,754
Depreciation charged in the year
-
0
95,058
5,116
3,652
5,167
108,993
At 30 June 2025
-
0
151,530
64,680
13,942
39,595
269,747
Carrying amount
At 30 June 2025
11,400
379,476
28,971
3,820
15,502
439,169
At 30 June 2024
11,400
81,967
24,006
2,568
20,669
140,610
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
150,471
155,584
Amounts owed by group undertakings
22,592
123,922
Other debtors
36,177
20,256
209,240
299,762
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
413,524
140,012
Trade creditors
184,392
486,848
Taxation and social security
244,467
173,232
Other creditors
194,392
129,663
1,036,775
929,755
PIXAPRO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 8 -
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
925,623
1,256,840
Other creditors
200,000
204,418
1,125,623
1,461,258
7
Secured debts
The following secured debts are included within creditors:
2025
2024
£
£
Hire purchase contracts
3,534
15,020
Bank loans
1,339,147
1,396,852
Factoring account
103,233
63,161
1,445,914
1,475,033
Hire purchase contracts are secured against the assets to which they relate.
Bank loans are secured by way of a fixed and floating charge over all assets of the company and by way of a government-backed guarantee.
All monies due or to become due from the company to the factoring company, Cash Connect, are secured against trade debtors.
8
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
31,855
27,275
9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1
1
1
1
10
Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

PIXAPRO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 9 -
11
Control

Ultimate parent company

The ultimate parent company is Riccan Group Limited, a company registered in England and Wales.

Ultimate controlling party

The ultimate controlling party is Mr Y Wu by virtue of their controlling interest in the ultimate parent company.

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