Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31true2023-01-01false11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04653394 2023-01-01 2023-12-31 04653394 2022-01-01 2022-12-31 04653394 2023-12-31 04653394 2022-12-31 04653394 c:Director1 2023-01-01 2023-12-31 04653394 d:ComputerSoftware 2023-12-31 04653394 d:ComputerSoftware 2022-12-31 04653394 d:CurrentFinancialInstruments 2023-12-31 04653394 d:CurrentFinancialInstruments 2022-12-31 04653394 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04653394 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04653394 d:ShareCapital 2023-12-31 04653394 d:ShareCapital 2022-12-31 04653394 d:RetainedEarningsAccumulatedLosses 2023-12-31 04653394 d:RetainedEarningsAccumulatedLosses 2022-12-31 04653394 c:OrdinaryShareClass1 2023-01-01 2023-12-31 04653394 c:OrdinaryShareClass1 2023-12-31 04653394 c:OrdinaryShareClass1 2022-12-31 04653394 c:OrdinaryShareClass2 2023-01-01 2023-12-31 04653394 c:OrdinaryShareClass2 2023-12-31 04653394 c:OrdinaryShareClass2 2022-12-31 04653394 c:OrdinaryShareClass3 2023-01-01 2023-12-31 04653394 c:OrdinaryShareClass3 2023-12-31 04653394 c:OrdinaryShareClass3 2022-12-31 04653394 c:FRS102 2023-01-01 2023-12-31 04653394 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04653394 c:FullAccounts 2023-01-01 2023-12-31 04653394 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04653394 d:EntityControlledByKeyManagementPersonnel1 2023-01-01 2023-12-31 04653394 d:EntityControlledByKeyManagementPersonnel1 2022-01-01 2022-12-31 04653394 d:EntityControlledByKeyManagementPersonnel1 2023-12-31 04653394 d:EntityControlledByKeyManagementPersonnel1 2022-12-31 04653394 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-12-31 04653394 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-12-31 04653394 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 04653394









PINNACLE PUBLIC RELATIONS LTD

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
PINNACLE PUBLIC RELATIONS LTD
REGISTERED NUMBER: 04653394

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
3,863
897

Cash at bank and in hand
  
5,026
146

  
8,889
1,043

Creditors: amounts falling due within one year
 6 
(357,595)
(293,526)

Net current liabilities
  
 
 
(348,706)
 
 
(292,483)

  

Net liabilities
  
(348,706)
(292,483)


Capital and reserves
  

Called up share capital 
 7 
3
3

Profit and loss account
  
(348,709)
(292,486)

  
(348,706)
(292,483)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




W Hardie
Director

Date: 26 August 2024

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
PINNACLE PUBLIC RELATIONS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Pinnacle Public Relations Ltd is a private company, limited by shares, incorporated in England and Wales. The company registered number is 04653394 and its registered office is 24 Old Bond Street, London, W1S 4AP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has net liabilities £348,706 (2022: £292,483) at the year end largely due to a balance owed to an associated company.
The company continues to be supported by the director and an associated company. The director considers that these resources will be sufficient for it to be able to continue as a going concern and that this support will not be withdrawn. The financial statements do not contain any adjustments that would be required if the company were not able to continue as a going concern.

 
2.3

Revenue

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. The following criteria must also be met before revenue is recognised:

Rendering of services

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.

 
2.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 2

 
PINNACLE PUBLIC RELATIONS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

 

Page 3

 
PINNACLE PUBLIC RELATIONS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.7
Financial instruments (continued)

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

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

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.8

Creditors

Short-term creditors are measured at the transaction price.

Page 4

 
PINNACLE PUBLIC RELATIONS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.11

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 5

 
PINNACLE PUBLIC RELATIONS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Computer software

£



Cost


At 1 January 2023
10,880



At 31 December 2023

10,880



Amortisation


At 1 January 2023
10,880



At 31 December 2023

10,880



Net book value



At 31 December 2023
-



At 31 December 2022
-



Page 6

 
PINNACLE PUBLIC RELATIONS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Other debtors
-
330

Prepayments
3,863
567

3,863
897



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
-
1

Trade creditors
-
510

Amounts owed to other participating interests
279,258
239,046

Other creditors
74,337
50,339

Accruals
4,000
3,630

357,595
293,526



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary A share of £1.00
1
1
1 (2022 - 1) Ordinary B share of £1.00
1
1
1 (2022 - 1) Ordinary C share of £1.00
1
1

3

3



8.


Related party transactions

During the year the company operated a loan account with a company under common control. The management charge for the year was £53,690 (2022 - £53,690). The amount owed to the related party at the year end was £279,258 (2022 - £239,046). This loan is interest free and repayable on demand.
During the year the company operated a loan account with the director of the company. The amount owed to the director at the year end was £74,335 (2022 - £50,339). The loan is interest free and repayable on demand.


Page 7