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Logo On Report
Registered Number: 09911918


 

 

 

PINNACLE TRADE UK LTD


Abridged Accounts
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts Pinnacle Trade UK LTD for the year ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pinnacle Trade UK LTD for the year ended 31 December 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.

This report is made solely to the Board of Directors of Pinnacle Trade UK LTD , as a body, in accordance with the terms of our engagement letter dated 30 September 2024. Our work has been undertaken solely to prepare for your approval the accounts of Pinnacle Trade UK LTD and state those matters that we have agreed to state to the Board of Directors of Pinnacle Trade UK LTD, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pinnacle Trade UK LTD and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Pinnacle Trade UK LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit Pinnacle Trade UK LTD. You consider that Pinnacle Trade UK LTD is exempt from the statutory audit requirement for the year

We have not been instructed to carry out an audit or a review of the accounts of Pinnacle Trade UK LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



....................................................
T & K Accounting Group
69 Banstead Road
Carshalton
SM5 3NP
30 September 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 7,500    7,500 
Tangible fixed assets 4 37,159    49,546 
44,659    57,046 
Current assets      
Stocks 18,250    4,877 
Debtors 145,040    105,050 
Cash at bank and in hand 42,903    37,456 
206,193    147,383 
Creditors: amount falling due within one year (105,435)   (73,050)
Net current assets 100,758    74,333 
 
Total assets less current liabilities 145,417    131,379 
Creditors: amount falling due after more than one year (44,585)   (59,956)
Net assets 100,832    71,423 
 

Capital and reserves
     
Called up share capital 10    10 
Profit and loss account 100,822    71,413 
Shareholders' funds 100,832    71,423 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 30 September 2024 and were signed by:


-------------------------------
Robin Singh Gogar
Director
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General Information
Pinnacle Trade UK LTD is a private company, limited by shares, registered in , registration number 09911918, registration address 65 The Parade, High Street, Watford, WD17 1LJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25 Reducing Balance
Motor Vehicles 25 Reducing Balance
2.

Average number of employees

Average number of employees during the year was 8 (2022 : 6).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 January 2023 25,000    25,000 
Additions  
Disposals  
At 31 December 2023 25,000    25,000 
Amortisation
At 01 January 2023 17,500    17,500 
Charge for year  
On disposals  
At 31 December 2023 17,500    17,500 
Net book values
At 31 December 2023 7,500    7,500 
At 31 December 2022 7,500    7,500 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 January 2023 62,250    35,803    98,053 
Additions    
Disposals    
At 31 December 2023 62,250    35,803    98,053 
Depreciation
At 01 January 2023 42,063    6,445    48,508 
Charge for year 5,047    7,339    12,386 
On disposals    
At 31 December 2023 47,110    13,784    60,894 
Net book values
Closing balance as at 31 December 2023 15,140    22,019    37,159 
Opening balance as at 01 January 2023 20,188    29,358    49,546 


5.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
 2022
£
 2023
£
 2022
£
G M VAPE & MOBILE LTD6,000 (6,000)
Chopra Homes Ltd26,000 106,650 80,650 


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