Pinnacle Stainless Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04852518 (England and Wales)

Pinnacle Stainless Limited

Unaudited Financial Statements

For The Year Ended 30th April 2017

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

W P Fosker

A R Jones

SECRETARY:

Mrs E J Jones

REGISTERED OFFICE:

Unit 81 Centaur Court

Claydon Business Park

Gt. Blakenham

Ipswich

Suffolk

IP6 0NL

REGISTERED NUMBER:

04852518 (England and Wales)

ACCOUNTANTS:

John Phillips & Co Limited

Accountants

Unit 81 Centaur Court

Claydon Business Park

Gt. Blakenham

Ipswich

Suffolk

IP6 0NL

FIXED ASSETS

Intangible assets

4

16,500

17,000

Tangible assets

5

39,643

49,097

56,143

66,097

CURRENT ASSETS

Stocks

6

7,000

5,000

Debtors

7

43,922

103,293

Cash at bank

50,821

41,248

101,743

149,541

CREDITORS

Amounts falling due within one year

8

56,867

81,782

NET CURRENT ASSETS

44,876

67,759

TOTAL ASSETS LESS CURRENT LIABILITIES

101,019

133,856

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

10

101,017

133,854

SHAREHOLDERS' FUNDS

101,019

133,856

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 1st January 2018 and were signed on its behalf by:

W P Fosker - Director

1.	STATUTORY INFORMATION

Pinnacle Stainless Limited 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 the provisions of Section 1A "Small Entities" 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 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

15% 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 Income Statement,

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.

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 3 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st May 2016

and 30th April 2017

21,000

AMORTISATION

At 1st May 2016

4,000

Amortisation for year

500

At 30th April 2017

4,500

NET BOOK VALUE

At 30th April 2017

16,500

At 30th April 2016

17,000

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1st May 2016

and 30th April 2017

9,622

66,394

909

76,925

DEPRECIATION

At 1st May 2016

2,946

24,610

272

27,828

Charge for year

1,001

8,357

96

9,454

At 30th April 2017

3,947

32,967

368

37,282

NET BOOK VALUE

At 30th April 2017

5,675

33,427

541

39,643

At 30th April 2016

6,676

41,784

637

49,097

6.

STOCKS

2017

2016

£

£

Stocks

7,000

5,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

43,922

103,293

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

32,336

49,336

Tax

8,171

14,597

VAT

14,554

16,057

Directors' loan accounts

951

997

Accrued expenses

855

795

56,867

81,782

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

2

Ordinary

£1

2

2

10.

RESERVES

Retained

earnings

£

At 1st May 2016

133,854

Profit for the year

23,163

Dividends

(56,000

)

At 30th April 2017

101,017