Parallax Studios Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 04836281

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		13,569		13,193
Investments	5		38,544		37,039

			52,113		50,232
CURRENT ASSETS
Stocks	6	114,203		131,903
Debtors	7	1,327,180		52,435
Cash at bank and in hand		1,032,875		1,815,894

		2,474,258		2,000,232
Creditors: Amounts Falling Due Within One Year	8	(353,375 )		(244,735 )

NET CURRENT ASSETS (LIABILITIES)			2,120,883		1,755,497

TOTAL ASSETS LESS CURRENT LIABILITIES			2,172,996		1,805,729

PROVISIONS FOR LIABILITIES
Deferred Taxation			(2,425 )		(2,119 )

NET ASSETS			2,170,571		1,803,610

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			2,170,471		1,803,510

SHAREHOLDERS' FUNDS			2,170,571		1,803,610

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Parallax Studios Limited

Balance Sheet (continued)

As At 31 July 2025

For the year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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 Paul Sinclair

Director

16/03/2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Parallax Studios Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04836281 . The registered office is 1 Norcott Road, London, N16 7BJ.

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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. 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% Reducing Balance
Computer Equipment	25% Reducing Balance

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. 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.

2.6. 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 years 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.

...CONTINUED

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Parallax Studios Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2025

2.6. Taxation - continued

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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 August 2024	36,043	42,711	78,754
Additions	566	4,332	4,898

As at 31 July 2025	36,609	47,043	83,652

Depreciation
As at 1 August 2024	31,187	34,374	65,561
Provided during the period	1,355	3,167	4,522

As at 31 July 2025	32,542	37,541	70,083

Net Book Value
As at 31 July 2025	4,067	9,502	13,569

As at 1 August 2024	4,856	8,337	13,193

5. Investments

	Unlisted
	£
Cost or Valuation
As at 1 August 2024	37,039
Additions	1,505

As at 31 July 2025	38,544

Provision
As at 1 August 2024	-

As at 31 July 2025	-

Net Book Value
As at 31 July 2025	38,544

As at 1 August 2024	37,039

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Parallax Studios Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 July 2025

6. Stocks

	2025	2024
	£	£
Stock	114,203	131,903

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	540	2,787
Other debtors	1,326,640	49,648

	1,327,180	52,435

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	140,550	25,034
Taxation and social security	212,825	219,701

	353,375	244,735

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

10. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 August 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 July 2025
	£	£	£	£	£
Mrs Elizabeth Sinclair	1,242	130,105	(130,162 )	-	1,185
Mr Paul Sinclair	1,242	135,405	(135,462 )	-	1,185

The above loans are unsecured, interest free and repayable on demand.

11. Related Party Transactions

Included within debtors is an amount due of £81,873 from Page Assets Limited, a company controlled by the directors.

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