Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 09874825 Mr P Lloyd Mr C Turnbull Mr J Dingwall Mr P Clark Mr H Saunders iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09874825 2023-03-31 09874825 2024-03-31 09874825 2023-04-01 2024-03-31 09874825 frs-core:CurrentFinancialInstruments 2024-03-31 09874825 frs-core:Non-currentFinancialInstruments 2024-03-31 09874825 frs-core:BetweenOneFiveYears 2024-03-31 09874825 frs-core:ComputerEquipment 2024-03-31 09874825 frs-core:ComputerEquipment 2023-04-01 2024-03-31 09874825 frs-core:ComputerEquipment 2023-03-31 09874825 frs-core:FurnitureFittings 2024-03-31 09874825 frs-core:FurnitureFittings 2023-04-01 2024-03-31 09874825 frs-core:FurnitureFittings 2023-03-31 09874825 frs-core:MotorVehicles 2024-03-31 09874825 frs-core:MotorVehicles 2023-04-01 2024-03-31 09874825 frs-core:MotorVehicles 2023-03-31 09874825 frs-core:WithinOneYear 2024-03-31 09874825 frs-core:CapitalRedemptionReserve 2024-03-31 09874825 frs-core:ShareCapital 2024-03-31 09874825 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 09874825 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09874825 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 09874825 frs-bus:SmallEntities 2023-04-01 2024-03-31 09874825 frs-bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09874825 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09874825 frs-core:UnlistedNon-exchangeTraded 2024-03-31 09874825 frs-core:UnlistedNon-exchangeTraded 2023-03-31 09874825 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-03-31 09874825 frs-core:AdditionsToInvestments frs-core:UnlistedNon-exchangeTraded 2024-03-31 09874825 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-03-31 09874825 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-03-31 09874825 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-03-31 09874825 frs-bus:Director1 2023-04-01 2024-03-31 09874825 frs-bus:Director1 2023-03-31 09874825 frs-bus:Director1 2024-03-31 09874825 frs-bus:Director2 2023-04-01 2024-03-31 09874825 frs-bus:Director3 2023-04-01 2024-03-31 09874825 frs-bus:Director4 2023-04-01 2024-03-31 09874825 frs-bus:Director5 2023-04-01 2024-03-31 09874825 frs-core:Non-currentFinancialInstruments 1 2024-03-31 09874825 frs-core:CurrentFinancialInstruments 9 2024-03-31 09874825 frs-countries:EnglandWales 2023-04-01 2024-03-31 09874825 2022-03-31 09874825 2023-03-31 09874825 2022-04-01 2023-03-31 09874825 frs-core:CurrentFinancialInstruments 2023-03-31 09874825 frs-core:Non-currentFinancialInstruments 2023-03-31 09874825 frs-core:BetweenOneFiveYears 2023-03-31 09874825 frs-core:WithinOneYear 2023-03-31 09874825 frs-core:CapitalRedemptionReserve 2023-03-31 09874825 frs-core:ShareCapital 2023-03-31 09874825 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 09874825 frs-core:Non-currentFinancialInstruments 1 2023-03-31 09874825 frs-core:CurrentFinancialInstruments 9 2023-03-31
Registered number: 09874825
Pinnacle Investments (Holdings) Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
djca Limited
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Pinnacle Investments (Holdings) Limited For The Year Ended 31 March 2024
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Pinnacle Investments (Holdings) Limited which comprise 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 of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Pinnacle Investments (Holdings) Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Pinnacle Investments (Holdings) Limited and state those matters that we have agreed to state to the directors of Pinnacle Investments (Holdings) Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pinnacle Investments (Holdings) Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Pinnacle Investments (Holdings) Limited 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 or loss of Pinnacle Investments (Holdings) Limited . You consider that Pinnacle Investments (Holdings) Limited 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 Investments (Holdings) Limited . 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 financial statements.
Signed
Robert Fiford FCCA
13/11/2024
djca Limited
ACCA
154-160 Fleet Street
London
EC4A 2DQ
Page 1
Page 2
Balance Sheet
Registered number: 09874825
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 23,884 19,046
Investments 5 51,014 1,014
74,898 20,060
CURRENT ASSETS
Debtors 6 1,071,472 908,924
Cash at bank and in hand 109,326 525,914
1,180,798 1,434,838
Creditors: Amounts Falling Due Within One Year 7 (316,942 ) (358,222 )
NET CURRENT ASSETS (LIABILITIES) 863,856 1,076,616
TOTAL ASSETS LESS CURRENT LIABILITIES 938,754 1,096,676
Creditors: Amounts Falling Due After More Than One Year 8 (359,773 ) (371,071 )
NET ASSETS 578,981 725,605
CAPITAL AND RESERVES
Called up share capital 9 1,750 1,750
Capital redemption reserve 1,000 1,000
Profit and Loss Account 576,231 722,855
SHAREHOLDERS' FUNDS 578,981 725,605
Page 2
Page 3
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 C Turnbull
Director
12/11/2024
The notes on pages 4 to 7 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
Pinnacle Investments (Holdings) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09874825 . The registered office is 8th Floor Holborn Tower, 137-144 High Holborn, London, WC1V 6PL.
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, 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.
2.3. 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:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% on cost
Computer Equipment 33% on cost
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.5. Investments
Investments in shares are included at fair value.
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Page 5
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 9)
8 9
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 - 13,856 24,509 38,365
Additions 14,638 - - 14,638
As at 31 March 2024 14,638 13,856 24,509 53,003
Depreciation
As at 1 April 2023 - 4,869 14,450 19,319
Provided during the period 1,820 3,464 4,516 9,800
As at 31 March 2024 1,820 8,333 18,966 29,119
Net Book Value
As at 31 March 2024 12,818 5,523 5,543 23,884
As at 1 April 2023 - 8,987 10,059 19,046
5. Investments
Unlisted
£
Cost
As at 1 April 2023 1,014
Additions 50,000
As at 31 March 2024 51,014
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 51,014
As at 1 April 2023 1,014
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 471,560 254,598
Prepayments and accrued income 96,313 89,702
Other debtors 7,384 62,404
Corporation tax recoverable assets 29,636 -
Directors' loan accounts 838 4,351
Called up share capital not paid 1,750 1,750
Amounts owed by group undertakings 153,991 186,119
761,472 598,924
...CONTINUED
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Page 6
Due after more than one year
Amounts owed by group undertakings 310,000 310,000
1,071,472 908,924
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 137,199 210,172
Bank loans and overdrafts 11,299 11,299
Other loans 57,443 -
Corporation tax - 75,275
Other taxes and social security 16,422 25,250
VAT 57,043 32,953
Other creditors 2,276 3,273
Accruals and deferred income 10,260 -
Directors' loan accounts 25,000 -
316,942 358,222
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 19,773 31,071
Convertible loan notes 340,000 340,000
359,773 371,071
9. Share Capital
2024 2023
£ £
Called Up Share Capital not Paid 1,750 1,750
Amount of Allotted, Called Up Share Capital 1,750 1,750
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 71,630 29,962
Later than one year and not later than five years 7,266 32,459
78,896 62,421
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11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Christopher Turnbull 4,351 - 3,513 - 838
The above loan is unsecured, interest free and repayable on demand. This loan has been repaid to the company since the year end.
12. Related Party Transactions
The company owns a minority holding in Pinnacle Fund Management Limited. As at 31st March 2024 £461,721 (2023: £458,021) was owed to Pinnacle Investments (Holdings) Limited in relation to loans and unpaid expenses.
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