Company Registration No. 09991526 (England and Wales)
PIXEL & SONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2019
PAGES FOR FILING WITH REGISTRAR
PIXEL & SONS LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
PIXEL & SONS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2019
31 March 2019
- 1 -
2019
2018
Notes
£
£
£
£
Current assets
Debtors
2
21,440
15,655
Cash at bank and in hand
1,495
8,220
22,935
23,875
Creditors: amounts falling due within one year
3
(24,986)
(46,899)
Net current liabilities
(2,051)
(23,024)
Capital and reserves
Called up share capital
1,100
1,100
Profit and loss reserves
(3,151)
(24,124)
Total equity
(2,051)
(23,024)
The directors of the company have elected not to include a copy of the income statement within the financial statements.
true
For the financial Period ended 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the Period 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.
The financial statements were approved by the board of directors and authorised for issue on 23 October 2019 and are signed on its behalf by:
A Goodeve
Director
Company Registration No. 09991526
PIXEL & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2019
- 2 -
1
Accounting policies
Company information
Pixel & Sons Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Unit 1, 5 York Way, London, N1C 4AJ.
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 are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. 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 and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
2
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
21,440
10,872
Other debtors
-
4,783
21,440
15,655
3
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
5,390
707
Amounts owed to group undertakings
12,301
23,062
Taxation and social security
2,817
5,626
Other creditors
4,478
17,504
24,986
46,899
PIXEL & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2019
- 3 -
4
Related party transactions
During the year the company entered into the following transactions with related parties:
Glass Canvas Group Limited:
A Company in which Mr A Goodeve and Mr W Nuttall are Directors. At the balance sheet date the company owed £12,301 (2018: £23,062) to Glass Canvas Group Limited.
Glass Canvas Productions Limited:
A Company in which Mr A Goodeve and Mr W Nuttall are Directors. At the balance sheet date the company owed £3,560 (2018: £16,586) to Glass Canvas Productions Limited.
5
Directors' transactions
Description
Opening balance
Closing balance
£
£
Mr A Goodeve
-
168
168
168
168