Pixel Envision Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09558675 (England and Wales)

Unaudited Financial Statements for the Year Ended 29 February 2020

for

PIXEL ENVISION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

E Gonenc

Mrs A Ucok Gonenc

REGISTERED OFFICE:

Preston Park House

South Road

Brighton

East Sussex

BN1 6SB

REGISTERED NUMBER:

09558675 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

1,141

Tangible assets

5

4,126

5,501

4,126

6,642

CURRENT ASSETS

Debtors

6

2,595

2,872

Cash at bank

16,913

15,382

19,508

18,254

CREDITORS

Amounts falling due within one year

7

(22,274

)

(23,660

)

NET CURRENT LIABILITIES

(2,766

)

(5,406

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,360

1,236

PROVISIONS FOR LIABILITIES

8

(784

)

(935

)

NET ASSETS

576

301

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

476

201

SHAREHOLDERS' FUNDS

576

301

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2020 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 20 March 2020 and were signed on its behalf by:

E Gonenc - Director

1.	STATUTORY INFORMATION

Pixel Envision 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates and these

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.

The items in the financial statements where these judgements and estimates have been made include the useful economic

life of intangible and tangible fixed assets, the amortisation and depreciation of these assets and recoverability of debtors.

Turnover

Turnover represents the fair value of consideration received or receivable net of VAT and trade discounts. Revenue is

recognised as contract activity progresses. Revenue not billed is included in debtors and payments on account in excess of

the relevant amount of revenue are included in creditors.

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 has been fully amortised.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated

impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by

management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 25% reducing balance

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered

into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of

its financial liabilities.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent

that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted

or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Impairment

At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any

indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset

is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the

recoverable amount of an asset, the Company estimates the recoverable amount of the cash-generating unit to which the

asset belongs.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in existence for the

foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 March 2019

and 29 February 2020

3,606

AMORTISATION

At 1 March 2019

2,465

Amortisation for year

1,141

At 29 February 2020

3,606

NET BOOK VALUE

At 29 February 2020

-

At 28 February 2019

1,141

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 March 2019

and 29 February 2020

15,369

DEPRECIATION

At 1 March 2019

9,868

Charge for year

1,375

At 29 February 2020

11,243

NET BOOK VALUE

At 29 February 2020

4,126

At 28 February 2019

5,501

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

1,975

2,497

Other debtors

620

375

2,595

2,872

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

197

60

Taxation and social security

307

3,051

Other creditors

21,770

20,549

22,274

23,660

8.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

784

935

Deferred

tax

£

Balance at 1 March 2019

935

Accelerated capital allowances

(151

)

Balance at 29 February 2020

784

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100

Ordinary

1

100

100