Silverfin false 31/12/2022 01/01/2022 31/12/2022 I A Ash 19/12/2019 N S Atkins 19/12/2019 P J Lardner 19/12/2019 15 November 2023 The principal activity of the company is to provide derivatives trading consultancy services. 08961321 2022-12-31 08961321 bus:Director1 2022-12-31 08961321 bus:Director2 2022-12-31 08961321 bus:Director3 2022-12-31 08961321 2021-12-31 08961321 core:CurrentFinancialInstruments 2022-12-31 08961321 core:CurrentFinancialInstruments 2021-12-31 08961321 core:ShareCapital 2022-12-31 08961321 core:ShareCapital 2021-12-31 08961321 core:CapitalRedemptionReserve 2022-12-31 08961321 core:CapitalRedemptionReserve 2021-12-31 08961321 core:RetainedEarningsAccumulatedLosses 2022-12-31 08961321 core:RetainedEarningsAccumulatedLosses 2021-12-31 08961321 core:OfficeEquipment 2021-12-31 08961321 core:OfficeEquipment 2022-12-31 08961321 bus:OrdinaryShareClass1 2022-12-31 08961321 2022-01-01 2022-12-31 08961321 bus:FullAccounts 2022-01-01 2022-12-31 08961321 bus:SmallEntities 2022-01-01 2022-12-31 08961321 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 08961321 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 08961321 bus:Director1 2022-01-01 2022-12-31 08961321 bus:Director2 2022-01-01 2022-12-31 08961321 bus:Director3 2022-01-01 2022-12-31 08961321 core:OfficeEquipment core:TopRangeValue 2022-01-01 2022-12-31 08961321 2021-01-01 2021-12-31 08961321 core:OfficeEquipment 2022-01-01 2022-12-31 08961321 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 08961321 bus:OrdinaryShareClass1 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08961321 (England and Wales)

PINNACLE OPTIONS TRADING LTD

Unaudited Financial Statements
For the financial year ended 31 December 2022
Pages for filing with the registrar

PINNACLE OPTIONS TRADING LTD

Unaudited Financial Statements

For the financial year ended 31 December 2022

Contents

PINNACLE OPTIONS TRADING LTD

STATEMENT OF FINANCIAL POSITION

As at 31 December 2022
PINNACLE OPTIONS TRADING LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2022
Note 2022 2021
£ £
Fixed assets
Tangible assets 3 357 1,666
357 1,666
Current assets
Debtors 4 12,857 153,016
Cash at bank and in hand 420 13,884
13,277 166,900
Creditors: amounts falling due within one year 5 ( 20,559) ( 159,160)
Net current (liabilities)/assets (7,282) 7,740
Total assets less current liabilities (6,925) 9,406
Net (liabilities)/assets ( 6,925) 9,406
Capital and reserves
Called-up share capital 6 45 45
Capital redemption reserve 15 15
Profit and loss account ( 6,985 ) 9,346
Total shareholders' (deficit)/funds ( 6,925) 9,406

For the financial year ending 31 December 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Pinnacle Options Trading Ltd (registered number: 08961321) were approved and authorised for issue by the Director. They were signed on its behalf by:

I A Ash
Director

15 November 2023

PINNACLE OPTIONS TRADING LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2022
PINNACLE OPTIONS TRADING LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2022
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Pinnacle Options Trading Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2022 2021
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 January 2022 3,926 3,926
At 31 December 2022 3,926 3,926
Accumulated depreciation
At 01 January 2022 2,260 2,260
Charge for the financial year 1,309 1,309
At 31 December 2022 3,569 3,569
Net book value
At 31 December 2022 357 357
At 31 December 2021 1,666 1,666

4. Debtors

2022 2021
£ £
Prepayments 135 0
Corporation tax 2,312 0
Other debtors 10,410 153,016
12,857 153,016

5. Creditors: amounts falling due within one year

2022 2021
£ £
Accruals 5,100 6,000
Corporation tax 0 137,701
Other creditors 15,459 15,459
20,559 159,160

6. Called-up share capital

2022 2021
£ £
Allotted, called-up and fully-paid
45 Ordinary shares of £ 1.00 each 45 45

7. Related party transactions

Included within other debtors are balances of £10,410 (2021: £153,016) due from companies with shared directors. These balances are unsecured and interest free, with no fixed repayment terms.