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REGISTERED NUMBER: 10594575 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Pinnacle Commercial Property Ltd

Pinnacle Commercial Property Ltd (Registered number: 10594575)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Pinnacle Commercial Property Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTOR: A S Knight





SECRETARY: D M Potts





REGISTERED OFFICE: Unit 4 Turbine Road
Turbine Business Park
Birkenhead
Merseyside
CH41 9BA





REGISTERED NUMBER: 10594575 (England and Wales)





ACCOUNTANTS: Haines Watts
3rd Floor Pacific Chambers
11-13 Victoria Street
Liverpool
Merseyside
L2 5QQ

Pinnacle Commercial Property Ltd (Registered number: 10594575)

Statement of Financial Position
30 June 2024

30.6.24 30.6.23
Notes £ £ £ £
FIXED ASSETS
Investment property 4 966,321 966,321

CURRENT ASSETS
Debtors 5 11,410 31,096
Cash at bank 1,273 2,068
12,683 33,164
CREDITORS
Amounts falling due within one year 6 13,727 25,092
NET CURRENT (LIABILITIES)/ASSETS (1,044 ) 8,072
TOTAL ASSETS LESS CURRENT
LIABILITIES

965,277

974,393

CREDITORS
Amounts falling due after more than one
year

7

(285,133

)

(329,570

)

PROVISIONS FOR LIABILITIES 9 (22,678 ) (17,235 )
NET ASSETS 657,466 627,588

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 657,366 627,488
657,466 627,588

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Pinnacle Commercial Property Ltd (Registered number: 10594575)

Statement of Financial Position - continued
30 June 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 March 2025 and were signed by:





A S Knight - Director


Pinnacle Commercial Property Ltd (Registered number: 10594575)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Pinnacle Commercial Property Ltd 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Statement of Financial Position when the company becomes party to the contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade, group and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of future receipts discounted at market rate of interest.

Financial assets classified as receivable within one year are not amortised.

Financial assets, other than those held at fair value through profit or loss, are assessed for indicators of impairment at each reporting end date.

Basic financial liabilities
Basic financial liabilities, including trade, group and other creditors and other borrowings are initially
recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at present value of the future payments discounted at a market rate of interest.

Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the company's contractual obligations expire or are discharge or cancelled.


Pinnacle Commercial Property Ltd (Registered number: 10594575)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 July 2023
and 30 June 2024 966,321
NET BOOK VALUE
At 30 June 2024 966,321
At 30 June 2023 966,321

The director has performed an assessment of the fair value of the property as at 30 June 2024 and believe the fair value of the property continues to be equal to the fair value as determined in previous periods, whilst the additions made since this date are deemed to have a fair value equal to their historic cost.

Fair value at 30 June 2024 is represented by:
£
Valuation in 2018 90,712
Cost 875,609
966,321

Pinnacle Commercial Property Ltd (Registered number: 10594575)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£ £
Amounts owed by group undertakings - 4,287
Amounts owed by participating interests 4,468 -
Other debtors 6,942 26,809
11,410 31,096

Amounts owed from participating interests relates to interest free, unsecured loans which are repayable on demand.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£ £
Bank loans and overdrafts - 3,051
Taxation and social security 12,727 21,041
Other creditors 1,000 1,000
13,727 25,092

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£ £
Bank loans - 5,593
Other creditors 285,133 323,977
285,133 329,570

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£ £
Bank loans - 8,644

National Westminster Bank PLC holds a fixed and floating charge dated 12 September 2017 over the assets of the company.

9. PROVISIONS FOR LIABILITIES
30.6.24 30.6.23
£ £
Deferred tax 22,678 17,235

Pinnacle Commercial Property Ltd (Registered number: 10594575)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

9. PROVISIONS FOR LIABILITIES - continued

Deferred tax
£
Balance at 1 July 2023 17,235
Provided during year 5,443
Balance at 30 June 2024 22,678

10. RELATED PARTY DISCLOSURES

All related party transactions have been completed under normal market conditions therefore details of these transactions are not required to be disclosed under FRS 102 Section 1AC.35. Included in debtors at the Statement of Financial Position date is an amount of £4,468 (2023 £4,287) owed from Pinnacle Electrical Supplies Ltd, a company connected through common directorship.