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Registered number: 07892925

PIXEL WEST LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 DECEMBER 2020

PIXEL WEST LIMITED

REGISTERED NUMBER: 07892925

BALANCE SHEET

AS AT 28 DECEMBER 2020

		2020		2019
Note		£		£

Fixed assets
Tangible assets	4		-		446
			-		446
Current assets
Debtors: amounts falling due within one year	5	2,549		4,178
Cash at bank and in hand	6	2		21
		2,551		4,199
Creditors: amounts falling due within one year	7	(880,339)		(881,315)
Net current liabilities			(877,788)		(877,116)
Total assets less current liabilities			(877,788)		(876,670)

Net liabilities			(877,788)		(876,670)

Capital and reserves
Called up share capital	10	10
Profit and loss account	(877,798)	(876,680)
	(877,788)	(876,670)

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PIXEL WEST LIMITED

REGISTERED NUMBER: 07892925

BALANCE SHEET (CONTINUED)

AS AT 28 DECEMBER 2020

For the year ended 28 December 2020 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

Stephen James Dorrell

Director

Date: 28 September 2021

The notes on pages 3 to 7 form part of these financial statements.

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PIXEL WEST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 DECEMBER 2020

1.	General information

Pixel West Limited, registered number 07892925, is a private limited company limited by share capital
registered in England and Wales. The registered office is 1-3 College Yard, Worcester, Worcestershire,
WR1 2LB.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

2.2

Going concern

The directors have discussed in detail, and believe that is it appropriate to prepare the financial
statement on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future.
The directors have reviewed budgets and forecasts for a period of 12 months from approval of the
accounts and it is of their opinion that the company can continue as a going concern for the
forseeable future.

2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment

20%

Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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PIXEL WEST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 DECEMBER 2020

2.Accounting policies (continued)

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

3.	Intangible assets

		Goodwill
		£
	Cost
	At 29 December 2019	70,000
	At 28 December 2020	70,000
	Amortisation
	At 29 December 2019	70,000
	At 28 December 2020	70,000
	Net book value
	At 28 December 2020	-
	At 28 December 2019	-

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PIXEL WEST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 DECEMBER 2020

4.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 29 December 2019	2,228
	At 28 December 2020	2,228
	Depreciation
	At 29 December 2019	1,782
	Charge for the year on owned assets	446
	At 28 December 2020	2,228
	Net book value
	At 28 December 2020	-
	At 28 December 2019	446

Debtors

					2020	2019
					£	£


Amounts owed by group undertakings	2,549	4,178
	2,549	4,178

6.	Cash and cash equivalents
		2020	2019
		£	£

Cash at bank and in hand	2	20
	2	20

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PIXEL WEST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 DECEMBER 2020

7.	Creditors: Amounts falling due within one year
		2020	2019
		£	£

Trade creditors	26,938	27,748
Other taxation and social security	35	-
Other creditors	849,381	849,582
Accruals and deferred income	3,985	3,985
	880,339	881,315

The following liabilities were secured:
	2020	2019
	£	£


Paul Stryker Meier	304,000	304,000
Stryker Publishing Limited	445,000	445,000
	749,000	749,000

Details of security provided:

A Registration of a Charge was agreed on the 14 December 2017, between Pixel West Limited and Paul
Stryker Meier. The Lender (Paul Stryker Meier) agreed to provide the company with loan facilities on a
secured basis.
A Registration of a Charge was agreed on the 14 December 2017, between Pixel West Limited and
Stryker Publishing Limited. The lender (Stryker Publishing Limited) agreed to provide the company with
loan facilities on a secured basis.

8.	Financial instruments
		2020	2019
		£	£

	Financial assets
	Financial assets measured at fair value through profit or loss	2	20

Financial assets measured at fair value through profit or loss comprise cash at bank.

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PIXEL WEST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 DECEMBER 2020

9.	Related party transactions
	At the balance sheet date there was an amount of £537,242 (2019 - £537,442) owed to related companies. There is no interest charged and no fixed date for repayment. At the balance sheet date there was an amount of £311,126 (2019 - £311,126) owed to directors. There is no interest charged and no fixed date for repayment.

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