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REGISTERED NUMBER: 04009945 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PINNACLE TOWERS LIMITED

PINNACLE TOWERS LIMITED (REGISTERED NUMBER: 04009945)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PINNACLE TOWERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







Directors: Mr P Kelley
B R Lowe





Secretary: Mr D Reid





Registered office: C/O Chamberlains
Elm House
Shackleford Road
Elstead,Godalming
Surrey
GU8 6LB





Registered number: 04009945 (England and Wales)





Auditors: Rock Tax & Accounting Ltd
69 High Street
Southgate
London
N14 6LD

PINNACLE TOWERS LIMITED (REGISTERED NUMBER: 04009945)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £ £ £ £
Fixed assets
Tangible assets 4 3,522,550 3,522,550

Current assets
Debtors 5 668,923 835,565
Cash at bank 7,300,039 6,578,812
7,968,962 7,414,377
Creditors
Amounts falling due within one year 6 489,139 340,397
Net current assets 7,479,823 7,073,980
Total assets less current liabilities 11,002,373 10,596,530

Capital and reserves
Called up share capital 7 907,307 907,307
Share premium 7,826,145 7,826,145
Retained earnings 2,268,921 1,863,078
Shareholders' funds 11,002,373 10,596,530

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 March 2025 and were signed on its behalf by:





Mr D K Schlanger - Director


PINNACLE TOWERS LIMITED (REGISTERED NUMBER: 04009945)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. Statutory information

Pinnacle Towers 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is recognised on a straight line basis over the life of the related lease agreements. Revenue is recorded in the month in which it is due. Any rental amounts received in advance of the month due are recorded as deferred income. One hundred percent of revenue relates to the United Kingdom market.

Tangible fixed assets
Depreciation is provided in order to write off each asset over its estimated useful life. Land is not depreciated as it is considered to have an indefinite life.

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

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Impairment of long-lived assets
The company evaluates the recoverability of its long-lived assets wherever adverse events or changes in business climate indicate that the expected undiscounted future cash flows from the related asset may be less than previously anticipated. If the net book value of the related asset exceeds the undiscounted future cash flows of the assets, the carrying amount would be reduced to the present value of the expected future cash flows and an impairment loss would be recognised.

PINNACLE TOWERS LIMITED (REGISTERED NUMBER: 04009945)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. Employees and directors

The average number of employees during the year was NIL (2022 - NIL).

4. Tangible fixed assets
Land and
buildings
£
Cost or valuation
At 1 January 2023
and 31 December 2023 5,455,025
Depreciation
At 1 January 2023
and 31 December 2023 1,932,475
Net book value
At 31 December 2023 3,522,550
At 31 December 2022 3,522,550

Included in cost or valuation of land and buildings is freehold land of £ 5,455,025 (2022 - £ 5,455,025 ) which is not depreciated.

The amounts included above as depreciation represent an impairment provision created in 2001 as a consequence of a revaluation of assets at that date.

5. Debtors: amounts falling due within one year
31.12.23 31.12.22
£ £
Trade debtors 85,495 1,082
Amounts owed by group undertakings 583,428 583,428
Prepayments and other debtors - 251,055
668,923 835,565

6. Creditors: amounts falling due within one year
31.12.23 31.12.22
£ £
Trade creditors 5,018 -
Taxation and social security 156,421 117,551
Other creditors 327,700 222,846
489,139 340,397

PINNACLE TOWERS LIMITED (REGISTERED NUMBER: 04009945)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £ £
11,422,660 Ordinary $0.01 78,316 78,316
1,200,000 Ordinary $1.00 828,991 828,991
907,307 907,307

8. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Amit Prasanna (Senior Statutory Auditor)
for and on behalf of Rock Tax & Accounting Ltd

9. Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. Ultimate controlling party

The company's ultimate parent company is Crown Castle Inc. which is incorporated in the USA. Crown Castle Inc. is the largest company in the group and the company prepares consolidated financial statements which are available to the public. Copies of the financial statements of Crown Castle Inc. may be obtained from 8020 Katy Freeway. Houston TX 77024.