Pinnacle Inns Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06715099 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st October 2018

for

Pinnacle Inns Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs S J Roberts

REGISTERED OFFICE:

Central Chambers

227 London Road

Hadleigh

Benfleet

Essex

SS7 2RF

REGISTERED NUMBER:

06715099 (England and Wales)

ACCOUNTANTS:

Field & Co LLP

Central Chambers

227 London Road

Hadleigh

Essex

SS7 2RF

FIXED ASSETS

Tangible assets

4

15,935

18,938

CURRENT ASSETS

Stocks

3,475

3,475

Debtors

5

29,837

22,572

Cash at bank and in hand

10,326

8,956

43,638

35,003

CREDITORS

Amounts falling due within one year

6

47,473

42,977

NET CURRENT LIABILITIES

(3,835

)

(7,974

)

TOTAL ASSETS LESS CURRENT LIABILITIES

12,100

10,964

CREDITORS

Amounts falling due after more than one year

7

(5,275

)

(7,193

)

PROVISIONS FOR LIABILITIES

8

(3,028

)

(3,676

)

NET ASSETS

3,797

95

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

10

3,796

94

SHAREHOLDERS' FUNDS

3,797

95

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2018.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31st October 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 2nd July 2019 and were signed by:

Mrs S J Roberts - Director

1.	STATUTORY INFORMATION

Pinnacle Inns Ltd 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss

account, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

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

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2017 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1st November 2017

50,342

9,250

11,145

70,737

Additions

1,816

-

-

1,816

At 31st October 2018

52,158

9,250

11,145

72,553

DEPRECIATION

At 1st November 2017

41,822

1,850

8,127

51,799

Charge for year

2,584

1,480

755

4,819

At 31st October 2018

44,406

3,330

8,882

56,618

NET BOOK VALUE

At 31st October 2018

7,752

5,920

2,263

15,935

At 31st October 2017

8,520

7,400

3,018

18,938

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1st November 2017

and 31st October 2018

9,250

DEPRECIATION

At 1st November 2017

1,850

Charge for year

1,480

At 31st October 2018

3,330

NET BOOK VALUE

At 31st October 2018

5,920

At 31st October 2017

7,400

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/18

31/10/17

£

£

Other debtors

29,837

22,572

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/18

31/10/17

£

£

Bank loans and overdrafts

-

1,743

Hire purchase contracts

1,918

1,918

Trade creditors

19,670

20,537

Taxation and social security

23,724

17,411

Other creditors

2,161

1,368

47,473

42,977

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/10/18

31/10/17

£

£

Hire purchase contracts

5,275

7,193

8.	PROVISIONS FOR LIABILITIES

31/10/18

31/10/17

£

£

Deferred tax

3,028

3,676

Deferred

tax

£

Balance at 1st November 2017

3,676

Credit to Income Statement during year

(648

)

Balance at 31st October 2018

3,028

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/10/18

31/10/17

value:

£

£

1

Ordinary Shares

£1

1

1

10.

RESERVES

Retained

earnings

£

At 1st November 2017

94

Profit for the year

23,485

Dividends

(19,783

)

At 31st October 2018

3,796

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs S J Roberts.