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REGISTERED NUMBER: 05142929 (England and Wales)










Report of the Director and

Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Pinnacle Living 2 Ltd

Pinnacle Living 2 Ltd (Registered number: 05142929)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Report of the Director 2

Balance Sheet 3

Notes to the Financial Statements 5


Pinnacle Living 2 Ltd

Company Information
for the Year Ended 30 June 2023







DIRECTOR: B H Miller





SECRETARY: J A Miller





REGISTERED OFFICE: 2 Heap Bridge
Bury
Lancashire
BL9 7HR





REGISTERED NUMBER: 05142929 (England and Wales)





ACCOUNTANTS: Thompson Jones Business Solutions Limited
2 Heap Bridge
Bury
Lancashire
BL9 7HR

Pinnacle Living 2 Ltd (Registered number: 05142929)

Report of the Director
for the Year Ended 30 June 2023

The director presents his report with the financial statements of the company for the year ended 30 June 2023.

PRINCIPAL ACTIVITY
The principal activity of the company is the construction of properties.

DIRECTOR
B H Miller held office during the whole of the period from 1 July 2019 to the date of this report..

The directors own several businesses in addition to Pinnacle Living 2 Ltd,
Pinnacle Living Facilities Management Ltd
Pinnacle Living Ltd
Pinnacle Living 3 Ltd
Pinnacle Living (The Pavilion) Ltd

Amounts owed by participants related to businesses listed above as set out in note 13.

At the balance sheet date, the company owed BH Miller £11,414,915 . Mr Miller has confirmed this funding will continue to be available for the foreseeable future.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





B H Miller - Director


10 April 2024

Pinnacle Living 2 Ltd (Registered number: 05142929)

Balance Sheet
30 June 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 3,021,008 4,612,278
Investments 6 1,000 1,000
Investment property 7 2,400,000 2,400,000
5,422,008 7,013,278

CURRENT ASSETS
Debtors 8 7,766,844 7,171,331
Cash at bank and in hand 24,733 23,821
7,791,577 7,195,152
CREDITORS
Amounts falling due within one year 9 (11,451,116 ) (11,599,832 )
NET CURRENT LIABILITIES (3,659,539 ) (4,404,680 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,762,469

2,608,598

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Revaluation reserve 11 2,358,007 2,958,007
Retained earnings (596,538 ) (350,409 )
SHAREHOLDERS' FUNDS 1,762,469 2,608,598

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Living 2 Ltd (Registered number: 05142929)

Balance Sheet - continued
30 June 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 Profit & Loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 April 2024 and were signed by:





B H Miller - Director


Pinnacle Living 2 Ltd (Registered number: 05142929)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
2 Heap Bridge
Bury
Lancashire
BL9 7HR

The principal place of business is:
1 Birtle Brook Village West
Elbut Lane
Birtle
Bury
Lancashire
BL9 7UJ

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss account, 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.


Pinnacle Living 2 Ltd (Registered number: 05142929)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

3. ACCOUNTING POLICIES - continued
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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. TANGIBLE FIXED ASSETS
Property
under Motor Computer
construction vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 July 2022 4,604,231 14,250 18,635 4,637,116
Additions - - 12,239 12,239
Disposals (1,000,000 ) - - (1,000,000 )
Revaluations (600,000 ) - - (600,000 )
At 30 June 2023 3,004,231 14,250 30,874 3,049,355
DEPRECIATION
At 1 July 2022 - 10,749 14,089 24,838
Charge for year - 700 2,809 3,509
At 30 June 2023 - 11,449 16,898 28,347
NET BOOK VALUE
At 30 June 2023 3,004,231 2,801 13,976 3,021,008
At 30 June 2022 4,604,231 3,501 4,546 4,612,278

Included within the net book value of land and buildings above is £4,604,231 (2022 - £4,604,231) in respect of freehold property.

Pinnacle Living 2 Ltd (Registered number: 05142929)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

6. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 July 2022
and 30 June 2023 1,000
NET BOOK VALUE
At 30 June 2023 1,000
At 30 June 2022 1,000

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 2,400,000
NET BOOK VALUE
At 30 June 2023 2,400,000
At 30 June 2022 2,400,000

The director considers that the above value is not materially different to the fair value of the investment
properties as at 30 June 2023.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by participating interests 7,760,497 7,161,663
Other debtors 6,347 9,668
7,766,844 7,171,331

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 33,531 36,267
Other creditors 11,417,585 11,563,565
11,451,116 11,599,832

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary shares 1 1,000 1,000

Pinnacle Living 2 Ltd (Registered number: 05142929)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

11. RESERVES
Revaluation
reserve
£   
At 1 July 2022 2,958,007
Revaluation reserve (600,000 )

At 30 June 2023 2,358,007