Pixel Properties Limited - Limited company - abbreviated

REGISTERED NUMBER: 03237861 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2014

FOR

PIXEL PROPERTIES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

L W Mansfield

L M Mansfield

SECRETARY:

Mrs N M Mansfield

REGISTERED OFFICE:

3rd Floor, Map House

34-36 St Leonards Road

Eastbourne

East Sussex

BN21 3UT

REGISTERED NUMBER:

03237861 (England and Wales)

ACCOUNTANTS:

MDJ Services Limited

MAP House

34-36 St Leonards Road

Eastbourne

East Sussex

BN21 3UT

FIXED ASSETS

Tangible assets

2

998

1,178

Investments

3

750,000

521,013

750,998

522,191

CURRENT ASSETS

Debtors

71,793

78,870

Cash at bank

3,776

50

75,569

78,920

CREDITORS

Amounts falling due within one year

241,740

229,720

NET CURRENT LIABILITIES

(166,171

)

(150,800

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

584,827

371,391

CREDITORS

Amounts falling due after more than one
year

54,465

11,733

NET ASSETS

530,362

359,658

CAPITAL AND RESERVES

Called up share capital

4

100

Revaluation reserve

471,742

301,253

Profit and loss account

58,520

58,305

SHAREHOLDERS' FUNDS

530,362

359,658

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 21 June 2015 and were signed on its behalf by:

L M Mansfield - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

-

20% on reducing balance

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Investment property

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only

on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities

(effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible

assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the

financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors

reflected in the annual valuation and the amount of this, which might otherwise have been charged, cannot be

separately identified or quantified.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

3,949

Additions

70

At 31 December 2014

4,019

DEPRECIATION

At 1 January 2014

2,771

Charge for year

250

At 31 December 2014

3,021

NET BOOK VALUE

At 31 December 2014

998

At 31 December 2013

1,178

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST OR VALUATION

At 1 January 2014

521,013

Additions

58,498

Revaluations

170,489

At 31 December 2014

750,000

NET BOOK VALUE

At 31 December 2014

750,000

At 31 December 2013

521,013

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.14

31.12.13

value:

£

100

Ordinary

£1

100

Pixel Properties Limited - Limited company - abbreviated - 11.6

Pixel Properties Limited - Limited company - abbreviated - 11.6