PINNACLE CARS LTD

Company Registration Number:
12166229 (England and Wales)

Unaudited abridged accounts for the year ended 31 August 2024

Period of accounts

Start date: 01 September 2023

End date: 31 August 2024

PINNACLE CARS LTD

Contents of the Financial Statements

for the Period Ended 31 August 2024

Balance sheet
Notes

PINNACLE CARS LTD

Balance sheet

As at 31 August 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 3,521 2,360
Total fixed assets: 3,521 2,360
Current assets
Stocks: 503,063 740,338
Debtors: 4 4,768 3,088
Cash at bank and in hand: 496,211 208,659
Total current assets: 1,004,042 952,085
Creditors: amounts falling due within one year: 5 (162,505) (292,069)
Net current assets (liabilities): 841,537 660,016
Total assets less current liabilities: 845,058 662,376
Creditors: amounts falling due after more than one year: 6 (2,000) (10,000)
Provision for liabilities: (501) (280)
Total net assets (liabilities): 842,557 652,096
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 842,555 652,094
Shareholders funds: 842,557 652,096

The notes form part of these financial statements

PINNACLE CARS LTD

Balance sheet statements

For the year ending 31 August 2024 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 11 March 2025
and signed on behalf of the board by:

Name: Mr Colin Marrison
Status: Director

The notes form part of these financial statements

PINNACLE CARS LTD

Notes to the Financial Statements

for the Period Ended 31 August 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

Turnover policy

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Tangible fixed assets and depreciation policy

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 Computer Equipment 25% Reducing Balance

Valuation and information policy

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.

Other accounting policies

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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. Current and deferred tax assets and liabilities are not discounted.

PINNACLE CARS LTD

Notes to the Financial Statements

for the Period Ended 31 August 2024

2. Employees

2024 2023
Average number of employees during the period 9 8

PINNACLE CARS LTD

Notes to the Financial Statements

for the Period Ended 31 August 2024

3. Tangible Assets

Total
Cost £
At 01 September 2023 4,066
Additions 2,334
At 31 August 2024 6,400
Depreciation
At 01 September 2023 1,706
Charge for year 1,173
At 31 August 2024 2,879
Net book value
At 31 August 2024 3,521
At 31 August 2023 2,360

PINNACLE CARS LTD

Notes to the Financial Statements

for the Period Ended 31 August 2024

4. Debtors

2024 2023
££
Debtors due after more than one year: 0 0

PINNACLE CARS LTD

Notes to the Financial Statements

for the Period Ended 31 August 2024

5. Creditors: amounts falling due within one year note

Trade Creditors £21,831. Taxation and Social Security £116,105. Other Creditors £24,569

PINNACLE CARS LTD

Notes to the Financial Statements

for the Period Ended 31 August 2024

6. Creditors: amounts falling due after more than one year note

Bank Loans & Overdrafts £2,000