2022-07-012023-06-302023-06-30false08851128PINNACLE SPORTS AND ENTERTAINMENT LIMITED2024-07-24iso4217:GBPxbrli:pure088511282022-07-01088511282023-06-30088511282022-07-012023-06-30088511282021-07-01088511282022-06-30088511282021-07-012022-06-3008851128bus:SmallEntities2022-07-012023-06-3008851128bus:AuditExempt-NoAccountantsReport2022-07-012023-06-3008851128bus:AbridgedAccounts2022-07-012023-06-3008851128bus:PrivateLimitedCompanyLtd2022-07-012023-06-3008851128core:WithinOneYear2023-06-3008851128core:AfterOneYear2023-06-3008851128core:WithinOneYear2022-06-3008851128core:AfterOneYear2022-06-3008851128core:ShareCapital2023-06-3008851128core:SharePremium2023-06-3008851128core:RevaluationReserve2023-06-3008851128core:OtherReservesSubtotal2023-06-3008851128core:RetainedEarningsAccumulatedLosses2023-06-3008851128core:ShareCapital2022-06-3008851128core:SharePremium2022-06-3008851128core:RevaluationReserve2022-06-3008851128core:OtherReservesSubtotal2022-06-3008851128core:RetainedEarningsAccumulatedLosses2022-06-3008851128core:LandBuildings2023-06-3008851128core:PlantMachinery2023-06-3008851128core:Vehicles2023-06-3008851128core:FurnitureFittings2023-06-3008851128core:OfficeEquipment2023-06-3008851128core:NetGoodwill2023-06-3008851128core:IntangibleAssetsOtherThanGoodwill2023-06-3008851128core:ListedExchangeTraded2023-06-3008851128core:UnlistedNon-exchangeTraded2023-06-3008851128core:LandBuildings2022-06-3008851128core:PlantMachinery2022-06-3008851128core:Vehicles2022-06-3008851128core:FurnitureFittings2022-06-3008851128core:OfficeEquipment2022-06-3008851128core:NetGoodwill2022-06-3008851128core:IntangibleAssetsOtherThanGoodwill2022-06-3008851128core:ListedExchangeTraded2022-06-3008851128core:UnlistedNon-exchangeTraded2022-06-3008851128core:LandBuildings2022-07-012023-06-3008851128core:PlantMachinery2022-07-012023-06-3008851128core:Vehicles2022-07-012023-06-3008851128core:FurnitureFittings2022-07-012023-06-3008851128core:OfficeEquipment2022-07-012023-06-3008851128core:NetGoodwill2022-07-012023-06-3008851128core:IntangibleAssetsOtherThanGoodwill2022-07-012023-06-3008851128core:ListedExchangeTraded2022-07-012023-06-3008851128core:UnlistedNon-exchangeTraded2022-07-012023-06-3008851128core:MoreThanFiveYears2022-07-012023-06-3008851128core:Non-currentFinancialInstruments2023-06-3008851128core:Non-currentFinancialInstruments2022-06-3008851128dpl:CostSales2022-07-012023-06-3008851128dpl:DistributionCosts2022-07-012023-06-3008851128core:LandBuildings2022-07-012023-06-3008851128core:PlantMachinery2022-07-012023-06-3008851128core:Vehicles2022-07-012023-06-3008851128core:FurnitureFittings2022-07-012023-06-3008851128core:OfficeEquipment2022-07-012023-06-3008851128dpl:AdministrativeExpenses2022-07-012023-06-3008851128core:NetGoodwill2022-07-012023-06-3008851128core:IntangibleAssetsOtherThanGoodwill2022-07-012023-06-3008851128dpl:GroupUndertakings2022-07-012023-06-3008851128dpl:ParticipatingInterests2022-07-012023-06-3008851128dpl:GroupUndertakingscore:ListedExchangeTraded2022-07-012023-06-3008851128core:ListedExchangeTraded2022-07-012023-06-3008851128dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-07-012023-06-3008851128core:UnlistedNon-exchangeTraded2022-07-012023-06-3008851128dpl:CostSales2021-07-012022-06-3008851128dpl:DistributionCosts2021-07-012022-06-3008851128core:LandBuildings2021-07-012022-06-3008851128core:PlantMachinery2021-07-012022-06-3008851128core:Vehicles2021-07-012022-06-3008851128core:FurnitureFittings2021-07-012022-06-3008851128core:OfficeEquipment2021-07-012022-06-3008851128dpl:AdministrativeExpenses2021-07-012022-06-3008851128core:NetGoodwill2021-07-012022-06-3008851128core:IntangibleAssetsOtherThanGoodwill2021-07-012022-06-3008851128dpl:GroupUndertakings2021-07-012022-06-3008851128dpl:ParticipatingInterests2021-07-012022-06-3008851128dpl:GroupUndertakingscore:ListedExchangeTraded2021-07-012022-06-3008851128core:ListedExchangeTraded2021-07-012022-06-3008851128dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-07-012022-06-3008851128core:UnlistedNon-exchangeTraded2021-07-012022-06-3008851128core:NetGoodwill2023-06-3008851128core:IntangibleAssetsOtherThanGoodwill2023-06-3008851128core:LandBuildings2023-06-3008851128core:PlantMachinery2023-06-3008851128core:Vehicles2023-06-3008851128core:FurnitureFittings2023-06-3008851128core:OfficeEquipment2023-06-3008851128core:AfterOneYear2023-06-3008851128core:WithinOneYear2023-06-3008851128core:ListedExchangeTraded2023-06-3008851128core:UnlistedNon-exchangeTraded2023-06-3008851128core:ShareCapital2023-06-3008851128core:SharePremium2023-06-3008851128core:RevaluationReserve2023-06-3008851128core:OtherReservesSubtotal2023-06-3008851128core:RetainedEarningsAccumulatedLosses2023-06-3008851128core:NetGoodwill2022-06-3008851128core:IntangibleAssetsOtherThanGoodwill2022-06-3008851128core:LandBuildings2022-06-3008851128core:PlantMachinery2022-06-3008851128core:Vehicles2022-06-3008851128core:FurnitureFittings2022-06-3008851128core:OfficeEquipment2022-06-3008851128core:AfterOneYear2022-06-3008851128core:WithinOneYear2022-06-3008851128core:ListedExchangeTraded2022-06-3008851128core:UnlistedNon-exchangeTraded2022-06-3008851128core:ShareCapital2022-06-3008851128core:SharePremium2022-06-3008851128core:RevaluationReserve2022-06-3008851128core:OtherReservesSubtotal2022-06-3008851128core:RetainedEarningsAccumulatedLosses2022-06-3008851128core:NetGoodwill2021-07-0108851128core:IntangibleAssetsOtherThanGoodwill2021-07-0108851128core:LandBuildings2021-07-0108851128core:PlantMachinery2021-07-0108851128core:Vehicles2021-07-0108851128core:FurnitureFittings2021-07-0108851128core:OfficeEquipment2021-07-0108851128core:AfterOneYear2021-07-0108851128core:WithinOneYear2021-07-0108851128core:ListedExchangeTraded2021-07-0108851128core:UnlistedNon-exchangeTraded2021-07-0108851128core:ShareCapital2021-07-0108851128core:SharePremium2021-07-0108851128core:RevaluationReserve2021-07-0108851128core:OtherReservesSubtotal2021-07-0108851128core:RetainedEarningsAccumulatedLosses2021-07-0108851128core:AfterOneYear2022-07-012023-06-3008851128core:WithinOneYear2022-07-012023-06-3008851128core:Non-currentFinancialInstrumentscore:CostValuation2022-07-012023-06-3008851128core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-07-012023-06-3008851128core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-07-012023-06-3008851128core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-07-012023-06-3008851128core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-07-012023-06-3008851128core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-07-012023-06-3008851128core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-07-012023-06-3008851128core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-07-012023-06-3008851128core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-07-012023-06-3008851128core:Non-currentFinancialInstrumentscore:CostValuation2023-06-3008851128core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-06-3008851128core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-06-3008851128core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-06-3008851128core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-06-3008851128core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-06-3008851128core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-06-3008851128core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-06-3008851128core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-06-3008851128core:Non-currentFinancialInstrumentscore:CostValuation2022-06-3008851128core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-06-3008851128core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-06-3008851128core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-06-3008851128core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-06-3008851128core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-06-3008851128core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-06-3008851128core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-06-3008851128core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-06-3008851128bus:Director12022-07-012023-06-3008851128bus:Director22022-07-012023-06-30088511281bus:Director12022-07-01088511281bus:Director12022-07-012023-06-30088511281bus:Director12023-06-30088511282bus:Director22022-07-01088511282bus:Director22022-07-012023-06-30088511282bus:Director22023-06-30088511282022-07-01088511282022-07-012023-06-30088511282023-06-30

PINNACLE SPORTS AND ENTERTAINMENT LIMITED

Registered Number
08851128
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2023

PINNACLE SPORTS AND ENTERTAINMENT LIMITED
Company Information
for the year from 1 July 2022 to 30 June 2023

Directors

KENNEDY, Simon Mark
KENNEDY, Suzanne Louise

Registered Address

20 Market Street
Altrincham
WA14 1PF

Registered Number

08851128 (England and Wales)
PINNACLE SPORTS AND ENTERTAINMENT LIMITED
Statement of Financial Position
30 June 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets36,0615,437
6,0615,437
Current assets
Debtors1,526,9361,929,347
Cash at bank and on hand1,653,6642,183,365
3,180,6004,112,712
Creditors amounts falling due within one year(206,424)(749,731)
Net current assets (liabilities)2,974,1763,362,981
Total assets less current liabilities2,980,2373,368,418
Net assets2,980,2373,368,418
Capital and reserves
Called up share capital11
Profit and loss account2,980,2363,368,417
Shareholders' funds2,980,2373,368,418
The financial statements were approved and authorised for issue by the Board of Directors on 24 July 2024, and are signed on its behalf by:
KENNEDY, Simon Mark
Director
Registered Company No. 08851128
PINNACLE SPORTS AND ENTERTAINMENT LIMITED
Notes to the Financial Statements
for the year ended 30 June 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After making enquiries the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery3
Office Equipment3
Finance leases and hire purchase contracts
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Government grants or assistance
Government grants shall be recognised on a systematic basis over the periods in which the entity recognises as expenses the related costs for which the grants are intended to compensate.
2.Average number of employees

20232022
Average number of employees during the year65
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 July 2260,759
Additions3,164
At 30 June 2363,923
Depreciation and impairment
At 01 July 2255,322
Charge for year2,540
At 30 June 2357,862
Net book value
At 30 June 236,061
At 30 June 225,437
4.Other commitments
Operating leases - total of future minimum lease payments is as follows: Not later than one year £72,588 (2022 - £72,941) Later than one year and not later than five years £24,441 (2022 - £1,029) The amount of non-cancellable operating lease payments recognised as an expense during the year was £28,027 (2022 - £25,892).
5.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
KENNEDY, Simon Mark503645,469645,93438
KENNEDY, Suzanne Louise13,95302513,928
14,456645,469645,95913,966
During the year the company had the following transactions with the directors, S M Kennedy and S L Kennedy.
6.Related party transactions
During the year the company had the following transactions with companies in which the directors have a material interest. Company 1 Brought forward £1,671,528 Amount advanced £41,788 Amount repaid £335,000 Carried forward £1,378,316 Company 2 Brought forward £10,429 Amount advanced £1,022 Amount repaid £0 Carried forward £11,451 All of the loans below were repayable on demand and unsecured. Market rate interest was used where necessary.