Acorah Software Products - Accounts Production 16.0.110 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 NI648811 Mr Robert McConnell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI648811 2023-01-31 NI648811 2024-01-31 NI648811 2023-02-01 2024-01-31 NI648811 frs-core:CurrentFinancialInstruments 2024-01-31 NI648811 frs-core:Non-currentFinancialInstruments 2024-01-31 NI648811 frs-core:ComputerEquipment 2024-01-31 NI648811 frs-core:ComputerEquipment 2023-02-01 2024-01-31 NI648811 frs-core:ComputerEquipment 2023-01-31 NI648811 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-01 2024-01-31 NI648811 frs-core:FurnitureFittings 2024-01-31 NI648811 frs-core:FurnitureFittings 2023-02-01 2024-01-31 NI648811 frs-core:FurnitureFittings 2023-01-31 NI648811 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-31 NI648811 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 NI648811 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-31 NI648811 frs-core:OtherResidualIntangibleAssets 2024-01-31 NI648811 frs-core:OtherResidualIntangibleAssets 2023-02-01 2024-01-31 NI648811 frs-core:OtherResidualIntangibleAssets 2023-01-31 NI648811 frs-core:ShareCapital 2024-01-31 NI648811 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 NI648811 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 NI648811 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 NI648811 frs-bus:SmallEntities 2023-02-01 2024-01-31 NI648811 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 NI648811 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 NI648811 frs-bus:Director1 2023-02-01 2024-01-31 NI648811 frs-countries:NorthernIreland 2023-02-01 2024-01-31 NI648811 2022-01-31 NI648811 2023-01-31 NI648811 2022-02-01 2023-01-31 NI648811 frs-core:CurrentFinancialInstruments 2023-01-31 NI648811 frs-core:Non-currentFinancialInstruments 2023-01-31 NI648811 frs-core:ShareCapital 2023-01-31 NI648811 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: NI648811
Pinnacle Growth Group Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Gray + Press Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: NI648811
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,173 3,765
Tangible Assets 5 63,291 88,349
65,464 92,114
CURRENT ASSETS
Stocks 6 12,000 7,000
Debtors 7 85,408 168,297
Cash at bank and in hand 250 17,911
97,658 193,208
Creditors: Amounts Falling Due Within One Year 8 (117,642 ) (99,308 )
NET CURRENT ASSETS (LIABILITIES) (19,984 ) 93,900
TOTAL ASSETS LESS CURRENT LIABILITIES 45,480 186,014
Creditors: Amounts Falling Due After More Than One Year 9 (42,527 ) (42,090 )
NET ASSETS 2,953 143,924
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 2,853 143,824
SHAREHOLDERS' FUNDS 2,953 143,924
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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 Robert McConnell
Director
31/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Pinnacle Growth Group Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI648811 . The registered office is 42 Bachelors Walk , Lisburn, BT28 1XN.
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.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. 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:
Freehold 20% Straight Line
Fixtures & Fittings 20% Straight Line
Computer Equipment 33% Straight Line
2.5. 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.
2.6. Government Grant
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 17 (2023: 11)
17 11
4. Intangible Assets
Other
£
Cost
As at 1 February 2023 7,960
As at 31 January 2024 7,960
Amortisation
As at 1 February 2023 4,195
Provided during the period 1,592
As at 31 January 2024 5,787
...CONTINUED
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Net Book Value
As at 31 January 2024 2,173
As at 1 February 2023 3,765
5. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2023 91,350 9,254 25,643 126,247
Additions - - 2,738 2,738
As at 31 January 2024 91,350 9,254 28,381 128,985
Depreciation
As at 1 February 2023 19,283 3,559 15,056 37,898
Provided during the period 18,270 1,735 7,791 27,796
As at 31 January 2024 37,553 5,294 22,847 65,694
Net Book Value
As at 31 January 2024 53,797 3,960 5,534 63,291
As at 1 February 2023 72,067 5,695 10,587 88,349
6. Stocks
2024 2023
£ £
Work in progress 12,000 7,000
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 57,102 166,514
Other debtors 28,306 1,783
85,408 168,297
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,018 19,244
Bank loans and overdrafts 102,996 18,284
Other creditors 2,216 23,641
Taxation and social security 10,412 38,139
117,642 99,308
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9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 42,527 42,090
10. Related Party Transactions
Included in other creditors are amounts owed to entities whom have shared control over Pinnacle Growth Group Limited. This balance amounts to £0 (2023 - £18,000).
Included in other Debtors are amounts owed to entities whom have shared control over Pinnacle Growth Group Limited. This balance amounts to £26,199 (2023 - £0).
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