Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 12 September 2024 1 January 2023 31 December 2023 31 December 2023 06652678 Mr Shaun Reed Mr Craig Chattell Mr Mark Penprase Mr Warren Tunley Mr Daniel Wells Mr Keelan Tunley Sceptre Education Trust true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06652678 2022-12-31 06652678 2023-12-31 06652678 2023-01-01 2023-12-31 06652678 frs-core:CurrentFinancialInstruments 2023-12-31 06652678 frs-core:Non-currentFinancialInstruments 2023-12-31 06652678 frs-core:ComputerEquipment 2023-01-01 2023-12-31 06652678 frs-core:FurnitureFittings 2023-01-01 2023-12-31 06652678 frs-core:LandBuildings 2023-12-31 06652678 frs-core:LandBuildings 2023-01-01 2023-12-31 06652678 frs-core:LandBuildings 2022-12-31 06652678 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 06652678 frs-core:MotorVehicles 2023-01-01 2023-12-31 06652678 frs-core:PlantMachinery 2023-12-31 06652678 frs-core:PlantMachinery 2023-01-01 2023-12-31 06652678 frs-core:PlantMachinery 2022-12-31 06652678 frs-core:WithinOneYear 2023-12-31 06652678 frs-core:ShareCapital 2023-12-31 06652678 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 06652678 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06652678 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 06652678 frs-bus:SmallEntities 2023-01-01 2023-12-31 06652678 frs-bus:Audited 2023-01-01 2023-12-31 06652678 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06652678 1 2023-01-01 2023-12-31 06652678 frs-bus:Director1 2023-01-01 2023-12-31 06652678 frs-bus:Director2 2023-01-01 2023-12-31 06652678 frs-bus:Director3 2023-01-01 2023-12-31 06652678 frs-bus:Director4 2023-01-01 2023-12-31 06652678 frs-bus:Director5 2023-01-01 2023-12-31 06652678 frs-bus:Director6 2023-01-01 2023-12-31 06652678 frs-countries:EnglandWales 2023-01-01 2023-12-31 06652678 2021-12-31 06652678 2022-12-31 06652678 2022-01-01 2022-12-31 06652678 frs-core:CurrentFinancialInstruments 2022-12-31 06652678 frs-core:Non-currentFinancialInstruments 2022-12-31 06652678 frs-core:WithinOneYear 2022-12-31 06652678 frs-core:ShareCapital 2022-12-31 06652678 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 06652678
Pinnacle (EU) Ltd
Financial Statements
For The Year Ended 31 December 2023
mca Banbury Ltd
4 - 6 The Wharf Centre
Wharf Street
Warwick
Warwickshire
CV34 5LB
Financial Statements
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 06652678
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 293,467 133,657
293,467 133,657
CURRENT ASSETS
Stocks 5 318,673 234,257
Debtors 6 136,597 141,512
Cash at bank and in hand 386,359 364,656
841,629 740,425
Creditors: Amounts Falling Due Within One Year 7 (452,878 ) (455,355 )
NET CURRENT ASSETS (LIABILITIES) 388,751 285,070
TOTAL ASSETS LESS CURRENT LIABILITIES 682,218 418,727
Creditors: Amounts Falling Due After More Than One Year 8 (63,750 ) (131,042 )
NET ASSETS 618,468 287,685
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 618,466 287,683
SHAREHOLDERS' FUNDS 618,468 287,685
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Warren Tunley
Director
20/08/2024
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Pinnacle (EU) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06652678 . The registered office is Unit 2 College Park, Main Road, Syresham, Northants, NN13 5FS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. 
Pinnacle EU Limited is a member of a public benefit group.
These financial statements are prepared in Sterling, which is the functional currency of the company. All the monetary amounts are rounded to the nearest £.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Significant judgements and estimations
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and
assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The
estimates and associated assumptions are based on historical experience and other factors that are considered to be
relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of
the revision and future periods where the revision affects both current and future periods.
2.4. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% Straight Line
Plant & Machinery 20% Straight Line
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Straight Line
Computer Equipment 33% Straight Line
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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Page 3
2.7. Financial Instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.
Basic financial assets and liabilities that are payable or receivable within one year, typically trade payables or receivables; are measured, initially and subsequently, at the undiscounted amount of cash or other consideration, expected to be paid or received monetary amounts are rounded to the nearest £.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2022: 8)
8 8
4. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 January 2023 119,488 269,638 389,126
Additions 169,387 94,089 263,476
Disposals - (31,256 ) (31,256 )
As at 31 December 2023 288,875 332,471 621,346
Depreciation
As at 1 January 2023 77,565 177,904 255,469
Provided during the period 44,581 52,883 97,464
Disposals - (25,054 ) (25,054 )
As at 31 December 2023 122,146 205,733 327,879
Net Book Value
As at 31 December 2023 166,729 126,738 293,467
As at 1 January 2023 41,923 91,734 133,657
5. Stocks
2023 2022
£ £
Stock 318,673 234,257
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 114,014 138,728
Other debtors 22,583 2,784
136,597 141,512
Page 3
Page 4
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 12,341 14,981
Trade creditors 227,364 152,624
Bank loans and overdrafts 90,410 23,627
Other creditors 112,151 225,246
Taxation and social security 10,612 38,877
452,878 455,355
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 63,750 131,042
63,750 131,042
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 12,341 14,981
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
11. Related Party Transactions
The company has taken advantage of the exemption available under FRS 102 section 33 'Related Party Disclosures' not to disclose details of its transactions with related parties. The exemption is available as the transactions are with other members of the group.
12. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
13. Ultimate Controlling Party
The company's ultimate controlling party is Sceptre Education Trust a charity registered in England with charity number 1071852, and address Unit 2 College Park, Main Road, Syresham, Northants, NN13 5FS
14. Audit Information
The auditors report on the account of Pinnacle (EU) Ltd for the year ended 31 December 2023 was unqualified
The auditor's report was signed by Martin Cox (Senior Statutory Auditor) for and on behalf of mca Banbury LTD , Statutory Auditor
Page 4