Pinnacle (UK) Limited,Ltd - AccountsLtd - Accounts

Pinnacle (UK) Limited,Ltd - AccountsLtd - Accounts


2019-07-01 04806005 2020-06-30 04806005 2019-07-01 2020-06-30 04806005 2019-06-30 04806005 2018-07-01 2019-06-30 04806005 uk-core:WithinOneYear 2019-06-30 04806005 uk-core:WithinOneYear 2020-06-30 04806005 uk-core:AfterOneYear 2019-06-30 04806005 uk-core:AfterOneYear 2020-06-30 04806005 uk-core:ShareCapital 2020-06-30 04806005 uk-core:ShareCapital 2019-06-30 04806005 uk-core:RetainedEarningsAccumulatedLosses 2020-06-30 04806005 uk-core:RetainedEarningsAccumulatedLosses 2019-06-30 04806005 uk-bus:Director1 2019-07-01 2020-06-30 04806005 uk-core:OfficeEquipment 2019-07-01 2020-06-30 04806005 uk-core:FurnitureFittings 2019-07-01 2020-06-30 04806005 uk-core:OfficeEquipment 2019-06-30 04806005 uk-core:FurnitureFittings 2019-06-30 04806005 uk-core:InvestmentPropertyIncludedWithinPPE 2019-06-30 04806005 uk-core:InvestmentPropertyIncludedWithinPPE 2019-07-01 2020-06-30 04806005 uk-core:InvestmentPropertyIncludedWithinPPE 2020-06-30 04806005 uk-core:FurnitureFittings 2020-06-30 04806005 uk-core:OfficeEquipment 2020-06-30 04806005 uk-core:AfterOneYear uk-core:Secured 2020-06-30 04806005 uk-core:AfterOneYear uk-core:Secured 2019-06-30 iso4217:GBP xbrli:pure 04806005 uk-bus:AuditExemptWithAccountantsReport 2019-07-01 2020-06-30 04806005 uk-bus:FRS102 2019-07-01 2020-06-30 04806005 uk-bus:FullAccounts 2019-07-01 2020-06-30 04806005 uk-bus:PrivateLimitedCompanyLtd 2019-07-01 2020-06-30
Pinnacle (UK) Limited
Registered Number:04806005
For the year ended 30 June 2020
England and Wales
Unaudited Financial Statements
2
For the year ended 30 June 2020
Pinnacle (UK) Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
04806005
As at 30 June 2020
Pinnacle (UK) Limited
Statement of Financial Position
£
£
2019
2020
Notes
Fixed assets
Property, plant and equipment
921,241
399,541
2
921,241
399,541
Current assets
Trade and other receivables
255,748
627,470
3
28,300
Cash and cash equivalents
414,471
1,041,941
284,048
Trade and other payables: amounts falling due within one
year
(262,688)
(1,429,567)
4
21,360
(387,626)
Net current liabilities
Total assets less current liabilities
533,615
420,901
Trade and other payables: amounts falling due after more
than one year
-
(50,000)
5
-
(52)
Provisions for liabilities
483,615
Net assets
420,849
Capital and reserves
Called up share capital
200
200
Retained earnings
483,415
420,649
483,615
420,849
Shareholders' funds
For the year ended 30 June 2020 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2020 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Steven James Hibbert Director
These financial statements were approved and authorised for issue by the Board on 17 November 2020 and were signed by:
The notes form part of these financial statements
1 of 4
4
For the year ended 30 June 2020
Pinnacle (UK) Limited
Notes to the Financial Statements
Statutory Information
Pinnacle (UK) Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 04806005.
Registered address:
24 Foxhills Close
Appleton
Warrington
Cheshire
WA4 5DH
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
15% Reducing balance
Computer equipment
15% Reducing balance
Fixtures and fittings
Investment property
Investment properties are included in the balance sheet at their open market value at the balance sheet date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. 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 January 2015), 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 of 4
5
For the year ended 30 June 2020
Pinnacle (UK) Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
Land and
buildings
£
£
£
£
Cost or
valuation
At 01 July 2019
404,468
3,186
8,834
392,448
522,764
-
-
522,764
Additions
At 30 June 2020
915,212
8,834
3,186
927,232
Provision for depreciation and impairment
At 01 July 2019
4,927
1,848
3,079
-
Charge for year
1,064
201
863
-
At 30 June 2020
5,991
2,049
3,942
-
At 30 June 2020
Net book value
915,212
4,892
1,137
921,241
At 30 June 2019
392,448
5,755
1,338
399,541
3. Trade and other receivables
2019
2020
£
£
Trade debtors
14,400
5,347
Other debtors
613,070
250,401
255,748
627,470
4. Trade and other payables: amounts falling due within one year
2019
2020
£
£
Trade creditors
-
3,906
Taxation and social security
38,790
41,885
Other creditors
1,390,777
216,897
1,429,567
262,688
5. Trade and other payables: amounts falling due after more than one year
2019
2020
£
£
Bank loans and overdraft
50,000
-
6. Average number of persons employed
During the year the average number of employees was 2 (2019 : 2)
3 of 4
6
For the year ended 30 June 2020
Pinnacle (UK) Limited
Notes to the Financial Statements Continued
4 of 4