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REGISTERED NUMBER: 03522287 (England and Wales)















Financial Statements For The Year Ended 31 December 2023

for

Pinnacle Surveyors (England And Wales)
Limited

Pinnacle Surveyors (England And Wales)
Limited (Registered number: 03522287)

Contents of the Financial Statements
For The Year Ended 31 December 2023










Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


Pinnacle Surveyors (England And Wales)
Limited

Company Information
For The Year Ended 31 December 2023







Directors: D Ellison
J P Staley



Secretary: D Ellison



Registered office: Profile House
Stores Road
Derby
DE21 4BD



Registered number: 03522287 (England and Wales)



Senior statutory auditor: Lucy Robinson



Auditors: PKF Smith Cooper Audit Ltd
Prospect House
1 Prospect Place
Pride Park
Derby
Derbyshire
DE24 8HG

Pinnacle Surveyors (England And Wales)
Limited (Registered number: 03522287)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
Fixed assets
Tangible assets 5 18,174 29,950

Current assets
Debtors 6 791,371 707,905
Cash at bank and in hand 218,026 315,793
1,009,397 1,023,698
Creditors
Amounts falling due within one year 7 908,551 612,700
Net current assets 100,846 410,998
Total assets less current liabilities 119,020 440,948

Provisions for liabilities 9 3,453 5,690
Net assets 115,567 435,258

Capital and reserves
Called up share capital 10 1 1
Capital redemption reserve 1 1
Retained earnings 115,565 435,256
Shareholders' funds 115,567 435,258

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 Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 August 2024 and were signed on its behalf by:




D Ellison - Director


Pinnacle Surveyors (England And Wales)
Limited (Registered number: 03522287)

Notes to the Financial Statements
For The Year Ended 31 December 2023


1. Statutory information

Pinnacle Surveyors (England And Wales) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.
The financial statements are prepared in sterling (£) and rounded to the nearest (£), which is the functional currency of the Company.

Going Concern
Forecasts prepared anticipate a higher level of activity in 2024, already borne out in the first month, and that the company will have adequate cash resources for the next 12 months and beyond.

The directors, therefore, consider that they have a reasonable expectation that the company has
adequate resources to continue in operational existence for at least 12 months from the date of
authorising these financial statements and therefore continues to adopt the going concern basis
in preparing its 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. 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.

Pinnacle Surveyors (England And Wales)
Limited (Registered number: 03522287)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023


3. Accounting policies - continued

Tangible fixed assets
Tangible fixed assets under te cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:
Computer equipment - 25% straight line

The assets' residual value, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Pinnacle Surveyors (England And Wales)
Limited (Registered number: 03522287)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023


3. Accounting policies - continued

Operating lease commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment of assets
Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that
those assets have suffered an impairment loss. If there is an indication of possible impairment,
the recoverable amount of any affected asset is estimated and compared with its carrying amount.
If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated
recoverable amount, and an impairment loss is recognised in profit or loss.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the
revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

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

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

4. Employees and directors

The average number of employees during the year was 60 (2022 - 59 ) .

Pinnacle Surveyors (England And Wales)
Limited (Registered number: 03522287)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023


5. Tangible fixed assets
Computer
systems
£   
Cost
At 1 January 2023 115,290
Additions 490
At 31 December 2023 115,780
Depreciation
At 1 January 2023 85,340
Charge for year 12,266
At 31 December 2023 97,606
Net book value
At 31 December 2023 18,174
At 31 December 2022 29,950

6. Debtors: amounts falling due within one year
31.12.23 31.12.22
£    £   
Trade debtors 442,186 342,884
Other debtors 349,185 365,021
791,371 707,905

7. Creditors: amounts falling due within one year
31.12.23 31.12.22
£    £   
Trade creditors 45,817 36,211
Amounts owed to group undertakings 7,690 7,690
Amounts owed to participating interests 149,000 49,000
Taxation and social security 226,238 380,310
Other creditors 479,806 139,489
908,551 612,700

Other creditors includes £349,750 (2022 £nil) outstanding on a loan of £419,700 repayable over 12 instalments of £36,982 at a fixed rate of 10.4%.The final payment is due in October 2024.

Pinnacle Surveyors (England And Wales)
Limited (Registered number: 03522287)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023


8. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 61,680 49,958
Between one and five years 53,278 91,960
114,958 141,918

The land and building lease expires in September 2025 and motor vehicle leases expire in December 2025, January 2026 and October 2026 respectively.

9. Provisions for liabilities
31.12.23 31.12.22
£    £   
Deferred tax 3,453 5,690

Deferred
tax
£   
Balance at 1 January 2023 5,690
Credit to Income statement during year (2,237 )
Balance at 31 December 2023 3,453

The amount of the net reversal of deferred tax expected to occur next year relates to the reversal of existing timing differences on tangible fixed assets and is considered to be immaterial.

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
42 A Ordinary Shares .01 - -
100 B Ordinary .01 1 1
1 1

Pinnacle Surveyors (England And Wales)
Limited (Registered number: 03522287)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023


11. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the auditors was unqualified.

Lucy Robinson (Senior Statutory Auditor)
for and on behalf of PKF Smith Cooper Audit Ltd

12. Related party disclosures

Amounts due to directors (2023 £9, 2022 £51,009), other shareholders (2023 £149,000, 2022 £49,000) and the parent company (2023 £7,690, 2022 £7,690) are interest free and repayable on demand.

Dividends of £nil (2022 £810,000) were paid to the parent company. CO2 Commercial Limited owns the whole of the equity capital and was the ultimate holding company and controlling party throughout the year. CO2 Commercial Limited is not under the control of any individual or group.