Company registration number 06550917 (England and Wales)
HPP PINNACLE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
HPP PINNACLE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
HPP PINNACLE LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2024
28 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Cash at bank and in hand
400
400
Net current assets
400
400
Capital and reserves
Called up share capital
3
400
400

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 5 November 2024 and are signed on its behalf by:
Mr S M Hill
Director
Company Registration No. 06550917
HPP PINNACLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 2 -
1
Accounting policies
Company information

HPP Pinnacle Limited is a private company limited by shares incorporated in England and Wales. The registered office is Scottfield Road, Oldham, OL8 1LA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

 

HPP Pinnacle Limited is an indirectly owned subsidiary of Redbeam Limited, which is a wholly owned subsidiary of Scotfield Limited and the results of HPP Pinnacle Limited are included in the consolidated financial statements of Scotfield Limited which are available from the registered office.

1.2
Going concern

The directors are not aware of any material uncertainties affecting the company and consider that the company will have sufficient resources to continue trading for the foreseeable future. As a result the directors have continued to adopt the going concern basis in preparing the financial statements.true

 

1.3
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
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.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

There were no employees during the year apart from the directors.

HPP PINNACLE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 3 -
3
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
400 (2023: 400) Ordinary shares of £1 each
400
400
4
Financial commitments, guarantees and contingent liabilities

The company has given a debenture over its assets, together with Hill's Panel Products Limited, Alexlake Limited and Poolbase Limited, by way of a guarantee to the holders of the 8% secured loan note instruments issued in Redbeam Limited. At 28 February 2024 an amount of £11,135,038 (2023: £11,135,038) was outstanding in respect of these loan note instruments.

 

The company has given a debenture over its assets, together with Hill's Panel Products Limited, Alexlake Limited, Poolbase Limited and Redbeam Limited, by way of a composite guarantee granted in respect of an asset based facilities agreement provided to Hill's Panel Products Limited. At 28 February 2024 an amount of £4,411,460 (2023: £3,555,276) was outstanding in respect of this agreement.

5
Parent company

The company is a wholly-owned subsidiary of Alexlake Limited, a company registered in England and Wales.

 

Alexlake Limited is an indirect wholly-subsidiary of Scotfield Limited, a company registered in England and Wales.

 

Scotfield Limited is under the control of M S Hill and S M Hill.

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