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REGISTERED NUMBER: 11482485 (England and Wales)




































FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2024

FOR

PINNACLE SOUND LIMITED

PINNACLE SOUND LIMITED (REGISTERED NUMBER: 11482485)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PINNACLE SOUND LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2024







DIRECTORS: Mrs J A Griffiths
R J Griffiths





REGISTERED OFFICE: Venture House
The Tanneries
East Street
Titchfield
Hampshire
PO14 4AR





REGISTERED NUMBER: 11482485 (England and Wales)





ACCOUNTANTS: Compass Accountants Limited
Chartered Accountants
Venture House
The Tanneries
East Street
Titchfield
Hampshire
PO14 4AR

PINNACLE SOUND LIMITED (REGISTERED NUMBER: 11482485)

BALANCE SHEET
31ST JULY 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,878 26,435

CURRENT ASSETS
Stocks 26,960 500
Debtors 5 3,217 16,744
Cash at bank and in hand 172 -
30,349 17,244
CREDITORS
Amounts falling due within one year 6 80,648 78,146
NET CURRENT LIABILITIES (50,299 ) (60,902 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(30,421

)

(34,467

)

CREDITORS
Amounts falling due after more than one
year

7

58,203

79,533
NET LIABILITIES (88,624 ) (114,000 )

CAPITAL AND RESERVES
Called up share capital 8 200 200
Retained earnings (88,824 ) (114,200 )
SHAREHOLDERS' FUNDS (88,624 ) (114,000 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20th September 2024 and were signed on its behalf by:





Mrs J A Griffiths - Director


PINNACLE SOUND LIMITED (REGISTERED NUMBER: 11482485)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024


1. STATUTORY INFORMATION

Pinnacle Sound 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue for the provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and associated costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

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

Basic financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

The company's financial assets and liabilities consist of cash and cash equivalents, short term investments, trade and other debtors, trade and other creditor, and accrued expenses. The fair value of these items approximates their carrying value due to their short term value. Unless otherwise noted, the company is not exposed to significant interest, foreign exchange or credit risks arising from these instruments.

PINNACLE SOUND LIMITED (REGISTERED NUMBER: 11482485)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2024


2. ACCOUNTING POLICIES - continued

Going concern
The financial statements for the year ended 31st July 2024 have been prepared on a going concern basis. In making this going concern assessment, the directors have not considered a period of greater than 12 months from the date of approval of these financial statements.

Despite net liabilities exceeding net assets for the period ending 31st July 2024, the directors feel that the company has provided several tenders post year end and are hopeful these will be accepted and this will have a positive impact on the balance sheet and therefore, the going concern basis of preparation remains appropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st August 2023
and 31st July 2024 562 902 33,245 2,274 36,983
DEPRECIATION
At 1st August 2023 286 401 8,311 1,550 10,548
Charge for year 69 101 6,234 153 6,557
At 31st July 2024 355 502 14,545 1,703 17,105
NET BOOK VALUE
At 31st July 2024 207 400 18,700 571 19,878
At 31st July 2023 276 501 24,934 724 26,435

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 2,117 15,644
Other debtors 1,100 1,100
3,217 16,744

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 20,372 35,161
Hire purchase contracts 3,759 4,009
Trade creditors 1,455 -
Taxation and social security 17,527 18,142
Other creditors 37,535 20,834
80,648 78,146

PINNACLE SOUND LIMITED (REGISTERED NUMBER: 11482485)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans 35,693 53,514
Hire purchase contracts 22,510 26,019
58,203 79,533

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
100 Ordinary A £1 100 100
100 Ordinary B £1 100 100
200 200