PINNACLE CONSULTANTS (LONDON) LTD - Abbreviated accounts

PINNACLE CONSULTANTS (LONDON) LTD - Company Information

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Registered number

04760874

PINNACLE CONSULTANTS (LONDON) LTD

Abbreviated Accounts

31 May 2016

TEMPLETONS (UK) LIMITED

CHARTERED ACCOUNTANTS

309 HOE STREET

WALTHAMSTOW

LONDON E17 9BG

PINNACLE CONSULTANTS (LONDON) LTD

Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of PINNACLE CONSULTANTS (LONDON) LTD for the year ended 31 May 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of PINNACLE CONSULTANTS (LONDON) LTD for the year ended 31 May 2016 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 2/10 as detailed at icaew.com/compilation.

Templetons (UK) Ltd
Chartered Accountants
309 Hoe Street
Walthamstow
London
E17 9BG

27 February 2017

PINNACLE CONSULTANTS (LONDON) LTD
Registered number:		04760874
Abbreviated Balance Sheet
as at 31 May 2016

Notes			2016			2015
£				£
Fixed assets
Tangible assets	3		3,843,584			3,461,778

Current assets
Stocks		9,814			-
Debtors		63,728			43,360
Cash at bank and in hand		1,938			10,230
		75,480			53,590

Creditors: amounts falling due within one year		(2,041,081)			(1,978,111)

Net current liabilities			(1,965,601)			(1,924,521)

Total assets less current liabilities			1,877,983			1,537,257

Creditors: amounts falling due after more than one year			(1,168,750)			(1,253,750)

Provisions for liabilities			(2,960)			(2,307)


Net assets			706,273			281,200

Capital and reserves
Called up share capital	4		100			100
Revaluation reserve			604,540			408,676
Profit and loss account			101,633			(127,576)

Shareholders' funds			706,273			281,200

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



Mr Fouad Haghighat
Director
Approved by the board on 27 February 2017

PINNACLE CONSULTANTS (LONDON) LTD
Notes to the Abbreviated Accounts
for the year ended 31 May 2016

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

	Turnover
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery			15% written down value
	Motor vehicles			15% written down value

	Stocks
	Stock is valued at the lower of cost and net realisable value.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Leasing and hire purchase commitments
	Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

	Investment Properties
	In accordance with SSAP 19 investment properties are revalued annually and any surplus or
	deficit is transferred to the revaluation reserve. No depreciation is provided is respect of
	investment properties.This treatment conflicts with the requirements of the companies Act 2006
	that all properties should be depreciated.The directors consider that because these properties
	are not held for consumption but for their investment potential,it is necessary to adapt the
	requirements of SSAP 19 for the financial statements to give a true and fair view.




2	Going Concern

	Notwithstanding the net asset deficiency, the financial statements have been prepared on a going concern basis as, in the opinion of the directors, the company has sufficient financial support from its creditors and shareholders to pay its debts a they fall due.

3	Tangible fixed assets					£

	Cost
	At 1 June 2015					3,509,072
	Additions					190,986
	Surplus on revaluation					195,864
	At 31 May 2016					3,895,922

	Depreciation
	At 1 June 2015					47,294
	Charge for the year					5,044
	At 31 May 2016					52,338

	Net book value
	At 31 May 2016					3,843,584
	At 31 May 2015					3,461,778


4	Share capital	Nominal		2016		2016		2015
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		100		100		100