IRIS Accounts Production v23.3.0.418 SC279951 Board of Directors 1.3.22 28.2.23 28.2.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2799512022-02-28SC2799512023-02-28SC2799512022-03-012023-02-28SC2799512021-02-28SC2799512021-03-012022-02-28SC2799512022-02-28SC279951ns10:Originalns15:Scotland2022-03-012023-02-28SC279951ns14:PoundSterlingns10:Original2022-03-012023-02-28SC279951ns10:Originalns10:Director12022-03-012023-02-28SC279951ns10:Original2022-03-012023-02-28SC279951ns10:Original2023-02-28SC279951ns10:Originalns10:PrivateLimitedCompanyLtd2022-03-012023-02-28SC279951ns10:Originalns10:SmallEntities2022-03-012023-02-28SC279951ns10:Originalns10:AuditExempt-NoAccountantsReport2022-03-012023-02-28SC279951ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-28SC279951ns10:SmallCompaniesRegimeForAccountsns10:Original2022-03-012023-02-28SC279951ns10:Originalns10:FullAccounts2022-03-012023-02-28SC279951ns10:Original12022-03-012023-02-28SC279951ns10:Originalns10:Director22022-03-012023-02-28SC279951ns10:CompanySecretary1ns10:Original2022-03-012023-02-28SC279951ns10:Originalns10:RegisteredOffice2022-03-012023-02-28SC279951ns10:Original2022-02-28SC279951ns10:Originalns5:CurrentFinancialInstruments2023-02-28SC279951ns10:Originalns5:CurrentFinancialInstruments2022-02-28SC279951ns10:Originalns5:Non-currentFinancialInstruments2023-02-28SC279951ns10:Originalns5:Non-currentFinancialInstruments2022-02-28SC279951ns5:ShareCapitalns10:Original2023-02-28SC279951ns5:ShareCapitalns10:Original2022-02-28SC279951ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-02-28SC279951ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-02-28SC279951ns10:Originalns5:NetGoodwill2022-03-012023-02-28SC279951ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-03-012023-02-28SC279951ns10:Originalns5:OwnedOrFreeholdAssetsns5:LandBuildings2022-03-012023-02-28SC279951ns10:Originalns5:PlantMachinery2022-03-012023-02-28SC279951ns10:Originalns5:FurnitureFittings2022-03-012023-02-28SC279951ns10:Originalns5:MotorVehicles2022-03-012023-02-28SC279951ns10:Original2021-03-012022-02-28SC279951ns10:Originalns5:NetGoodwill2022-02-28SC279951ns10:Originalns5:NetGoodwill2023-02-28SC279951ns10:Originalns5:NetGoodwill2022-02-28SC279951ns10:Originalns5:LandBuildings2022-02-28SC279951ns10:Originalns5:PlantMachinery2022-02-28SC279951ns10:Originalns5:FurnitureFittings2022-02-28SC279951ns10:Originalns5:LandBuildings2022-03-012023-02-28SC279951ns10:Originalns5:LandBuildings2023-02-28SC279951ns10:Originalns5:PlantMachinery2023-02-28SC279951ns10:Originalns5:FurnitureFittings2023-02-28SC279951ns10:Originalns5:LandBuildings2022-02-28SC279951ns10:Originalns5:PlantMachinery2022-02-28SC279951ns10:Originalns5:FurnitureFittings2022-02-28SC279951ns10:Originalns5:MotorVehicles2022-02-28SC279951ns10:Originalns5:ComputerEquipment2022-02-28SC279951ns10:Original2022-02-28SC279951ns10:Originalns5:ComputerEquipment2022-03-012023-02-28SC279951ns10:Originalns5:MotorVehicles2023-02-28SC279951ns10:Originalns5:ComputerEquipment2023-02-28SC279951ns10:Originalns5:MotorVehicles2022-02-28SC279951ns10:Originalns5:ComputerEquipment2022-02-28SC279951ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-02-28SC279951ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-02-28SC279951ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-02-28SC279951ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-02-28SC279951ns10:Originalns5:DeferredTaxation2022-02-28SC279951ns10:Originalns5:DeferredTaxation2022-03-012023-02-28SC279951ns10:Originalns5:DeferredTaxation2023-02-28
REGISTERED NUMBER: SC279951 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

PINNACLE SYSTEMS (SCOTLAND) LIMITED

PINNACLE SYSTEMS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC279951)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PINNACLE SYSTEMS (SCOTLAND) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: P R Hagan
Mrs T Hagan





SECRETARY: Mrs T Hagan





REGISTERED OFFICE: Railwayside House
Summerlee Road
Larkhall
Lanarkshire
ML9 2UH





REGISTERED NUMBER: SC279951 (Scotland)





ACCOUNTANT: John Murphy & Company (Scotland) Limited
Chartered Accountants
Castle Chambers
67 Main Street
Bothwell
Lanarkshire
G71 8ER

PINNACLE SYSTEMS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC279951)

BALANCE SHEET
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 600 900
Tangible assets 5 171,118 80,102
171,718 81,002

CURRENT ASSETS
Stocks 6 13,500 13,500
Debtors 7 - 3,140
Cash at bank 15,687 41,104
29,187 57,744
CREDITORS
Amounts falling due within one year 8 113,315 80,775
NET CURRENT LIABILITIES (84,128 ) (23,031 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

87,590

57,971

CREDITORS
Amounts falling due after more than one
year

9

(29,167

)

(39,167

)

PROVISIONS FOR LIABILITIES 10 (565 ) (908 )
NET ASSETS 57,858 17,896

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 57,758 17,796
SHAREHOLDERS' FUNDS 57,858 17,896

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

PINNACLE SYSTEMS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC279951)

BALANCE SHEET - continued
28 FEBRUARY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 8 November 2023 and were signed on its behalf by:





P R Hagan - Director


PINNACLE SYSTEMS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC279951)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Pinnacle Systems (Scotland) Limited is a private company, limited by shares , registered in Scotland. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty 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.
Freehold property - not provided
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

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.

PINNACLE SYSTEMS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC279951)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued

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 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 6,000
AMORTISATION
At 1 March 2022 5,100
Amortisation for year 300
At 28 February 2023 5,400
NET BOOK VALUE
At 28 February 2023 600
At 28 February 2022 900

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 March 2022 72,996 2,725 8,374
Additions 93,601 - -
At 28 February 2023 166,597 2,725 8,374
DEPRECIATION
At 1 March 2022 - 2,710 8,142
Charge for year - - 108
At 28 February 2023 - 2,710 8,250
NET BOOK VALUE
At 28 February 2023 166,597 15 124
At 28 February 2022 72,996 15 232

PINNACLE SYSTEMS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC279951)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2022 18,790 1,107 103,992
Additions - - 93,601
At 28 February 2023 18,790 1,107 197,593
DEPRECIATION
At 1 March 2022 12,672 366 23,890
Charge for year 2,199 278 2,585
At 28 February 2023 14,871 644 26,475
NET BOOK VALUE
At 28 February 2023 3,919 463 171,118
At 28 February 2022 6,118 741 80,102

6. STOCKS
28.2.23 28.2.22
£    £   
Stock 13,500 13,500

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors - 3,140

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 28,096 20,434
Corporation tax 63,880 38,247
Payroll taxation 1,556 1,393
Pension fund control 71 72
VAT 8,555 7,777
Directors' current accounts 270 91
Accrued charges 887 2,761
113,315 80,775

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 19,167 29,167
29,167 39,167

PINNACLE SYSTEMS (SCOTLAND) LIMITED (REGISTERED NUMBER: SC279951)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

10. PROVISIONS FOR LIABILITIES
28.2.23 28.2.22
£    £   
Deferred tax 565 908

Deferred
tax
£   
Balance at 1 March 2022 908
Provided during year (343 )
Balance at 28 February 2023 565

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company occupies premises owned by the directors. A normal commercial rent of £9,600 per annum was paid during the trading period and at the balance sheet date no amount was outstanding in this respect.

12. ULTIMATE CONTROLLING PARTY

The controlling party is P R Hagan.