Pinnacle Heating Solutions Ltd


FINANCIAL STATEMENTS


for the year ended 31st March 2024



Pinnacle Heating Solutions Ltd

CONTENTS

for the year ended 31st March 2024







The Accounts are comprised of the following:

Statement of Financial Position

Notes to the Accounts



Please note that the Accounts comprise of HTML and iXBRL source code and that this is a printed or visual representation of that source code some of which will not be displayed or printed.

Pinnacle Heating Solutions Ltd

Company No. 05729864

STATEMENT OF FINANCIAL POSITION

as at 31st March 2024

20242023
Note£££
FIXED ASSETS
Property, plant and equipment42838444690
2838444690
CURRENT ASSETS
Stocks5500500
Debtors63561227707
Cash at bank and in hand3900040927
7511269134
CURRENT LIABILITIES
Creditors: amounts falling due
within one year76269469068
NET CURRENT ASSETS1241866
TOTAL ASSETS LESS CURRENT LIABILITIES4080244756
 
Creditors: amounts falling due
after more than one year83977743611
 
NET ASSETS10251145
 
CAPITAL AND RESERVES
Called up share capital200200
Retained earnings825945
SHAREHOLDERS FUNDS10251145

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies which are subject to the small companies' regime. The Income Statement has not been delivered to the Registrar of Companies.

For the year ended 31st March 2024 the Company is entitled to the exemption from the requirement to obtain an audit conferred by section 477 of the Companies Act 2006 and the members have not required the company to obtain an audit in accordance with section 476 of the Act.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the Board on 24 July 2024


Rogers R

Director

Company Number 05729864 (England)

Pinnacle Heating Solutions Ltd

NOTES TO THE ACCOUNTS

for the year ended 31st March 2024


1   Statutory information

Pinnacle Heating Solutions Ltd is a private company limited by shares and registered under company number 05729864 in England. Its registered office address is 12 Hatherley Road, Sidcup, England, DA14 4DT.

These financial statements are presented in Sterling, which is the functional currency of the company.

2   Accounting policies

Basis of preparation of financial statements

The accounts have been prepared under the historical cost convention in accordance with the accounting policies set out below, and in accordance with Financial Reporting Standard 102 Section 1A and the Companies Act 2006.

Income Recognition

Revenue is measured at the fair value of the consideration received or receivable. Turnover is shown net of value added tax, returns, rebates and discounts. Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership, it is possible that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Depreciation

Depreciation is provided on all property, plant and equipment, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Plant, machinery and vehicles15-25% reducing balance

Stocks

Stocks are valued at the lower of cost and expected selling price less any costs to sell.

Leasing

Assets, obtained under hire purchase contracts and finance leases, are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

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 Statement of Financial Position and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the Statement of Financial Position as a liability.

The interest element of the rental obligations is charged to the Income Statement 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.

3   Employee information

The average number of employees during the accounting period was 4 (2023 - 4).

4   Property, plant and equipment
 
PlantFixtures
Motorandand
VehiclesMachineryFittingsTotal
££££
Cost
At 1st April 2023 696731995113659103283
Additions31980--31980
Disposals(69673)--(69673)
At 31st March 202431980199511365965590
 
Depreciation
At 1st April 2023 30482179301018158593
Charge for year79954046969095
On disposals(30482)--(30482)
At 31st March 20247995183341087737206
 
Net Book Value
At 31st March 2024239851617278228384
At 31st March 2023391912021347844690
 
Net book value of assets included above held
 under finance leases and hire purchase contracts
 
At 31st March 202423985--23985
At 31st March 202352255--52255

5   Stocks20242023
££
 
Finished goods and goods for resale500500
500500

The difference between purchase price or production cost of stocks and their replacement cost is not material.


6   Debtors20242023
££
 
Trade Debtors59058660
Other debtors2970719047
3561227707

7   Creditors: amounts falling due within one year20242023
££
 
Loans and Overdrafts1557023488
Obligations under finance lease and hire purchase contracts110198010
Trade Creditors1226215846
Corporation tax113229343
Other creditors93219181
Accruals and deferred income32003200
6269469068

8   Creditors: amounts falling due after one year20242023
££
 
Obligations under finance lease and hire purchase contracts3977743611
3977743611

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