Company Registration No. NI648811 (Northern Ireland)
Pinnacle Growth Group Limited
Unaudited accounts
for the year ended 31 January 2022
Pinnacle Growth Group Limited
Statement of financial position
as at 31 January 2022
Intangible assets
5,357
8,553
Tangible assets
57,012
19,306
Cash at bank and in hand
97,392
101,848
Creditors: amounts falling due within one year
(89,825)
(81,734)
Net current assets
135,815
100,562
Total assets less current liabilities
198,184
128,421
Creditors: amounts falling due after more than one year
(33,046)
(43,759)
Called up share capital
100
100
Profit and loss account
165,038
84,562
Shareholders' funds
165,138
84,662
For the year ending 31 January 2022 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 January 2023 and were signed on its behalf by
Robert McConnell
Director
Company Registration No. NI648811
Pinnacle Growth Group Limited
Notes to the Accounts
for the year ended 31 January 2022
Pinnacle Growth Group Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI648811. The registered office is 42 Bachelors Walk, Lisburn , BT28 1XN, Northern Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
20% Straight Line
Fixtures & fittings
20% Straight line
Computer equipment
33% Straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Pinnacle Growth Group Limited
Notes to the Accounts
for the year ended 31 January 2022
4
Intangible fixed assets
Other
5
Tangible fixed assets
Land & buildings
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 February 2021
11,000
3,872
9,975
24,847
Additions
40,196
1,856
8,260
50,312
At 31 January 2022
51,196
5,728
18,235
75,159
At 1 February 2021
45
1,052
4,444
5,541
Charge for the year
6,895
1,107
4,604
12,606
At 31 January 2022
6,940
2,159
9,048
18,147
At 31 January 2022
44,256
3,569
9,187
57,012
At 31 January 2021
10,955
2,820
5,531
19,306
Amounts falling due within one year
Trade debtors
123,515
80,448
Pinnacle Growth Group Limited
Notes to the Accounts
for the year ended 31 January 2022
7
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
10,649
6,241
Trade creditors
5,839
5,547
Taxes and social security
37,796
47,229
8
Creditors: amounts falling due after more than one year
2022
2021
9
Average number of employees
During the year the average number of employees was 11 (2021: 6).
