REGISTERED NUMBER: |
Audited Financial Statements for the Year Ended 30 June 2024 |
for |
Pinnacle UK Group Limited |
REGISTERED NUMBER: |
Audited Financial Statements for the Year Ended 30 June 2024 |
for |
Pinnacle UK Group Limited |
Pinnacle UK Group Limited (Registered number: 11653493) |
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 | 3 |
Pinnacle UK Group Limited |
Company Information |
for the Year Ended 30 June 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
INDEPENDENT AUDITORS: |
Statutory Auditor |
3rd Floor Pacific Chambers |
11-13 Victoria Street |
Liverpool |
Merseyside |
L2 5QQ |
Pinnacle UK Group Limited (Registered number: 11653493) |
Statement of Financial Position |
30 June 2024 |
30.6.24 | 30.6.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Other reserves |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
Pinnacle UK Group Limited (Registered number: 11653493) |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Pinnacle UK Group Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Pinnacle UK Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Gipfel Electrical Holdings Limited, Unit 4 C/O Pinnacle, Turbine Road, Birkenhead, CH41 9BA. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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 other debtors, 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 group and other creditors 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. |
Financial liabilities are derecognised when the company's contractual obligations expire or are discharge or cancelled. |
Pinnacle UK Group Limited (Registered number: 11653493) |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 July 2023 |
Additions |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
Company name |
Address of the registered office |
Nature of business |
Interest |
Pinnacle Electrical Supplies Limited |
Unit 4 Turbine Road, Turbine Business Park, Birkenhead, CH41 9BA |
Wholesale of electronic and telecommunications equipment and parts |
100% of ordinary share capital |
Pinnacle Electrical Supplies (Bolton) Limited |
Unit 4 Turbine Road, Turbine Business Park, Birkenhead, CH41 9BA |
Wholesale of electronic and telecommunications equipment and parts |
51% of ordinary share capital |
Pinnacle Plumbing & Heating Supplies Limited |
Unit 4 Turbine Road, Turbine Business Park, Birkenhead, CH41 9BA |
Wholesale of hardware, plumbing and heating equipment and supplies |
100% of ordinary share capital |
Pinnacle Electrical Supplies (Oldham) Limited |
Unit 4 Turbine Road, Turbine Business Park, Birkenhead, CH41 9BA |
Wholesale of electronic and telecommunications equipment and parts |
100% of ordinary share capital |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Amounts owed by group undertakings |
Pinnacle UK Group Limited (Registered number: 11653493) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Amounts owed to group undertakings |
Other creditors |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
8. | OTHER FINANCIAL COMMITMENTS |
The company is a chargor in relation to the secured debts held by Arbuthnot individually with Gipfel Electrical Holdings Limited, Pinnacle Electrical Supplies Limited, Pinnacle Electrical Supplies (Bolton) Limited and Pinnacle Plumbing and Heating Limited. |
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. |
Included in creditors at the year end is an amount of £51 (2023: £51) due from Pinnacle UK Group Limited. This amount amount is interest free and repayable on demand. |
10. | POST BALANCE SHEET EVENTS |
The company has been made a chargor to the secured debt held by Arbuthnot with Pinnacle Electrical Supplies (Oldham) Limited. |
11. | ULTIMATE CONTROLLING PARTY |
For the year ended 30 June 2024, the parent of the smallest group for which consolidated accounts are drawn up of which the small entity is a member is Gipfel Electrical Holdings Limited. Copies of the group accounts are available from Unit 4 Turbine Road, Wirral, Merseyside, England, CH41 9BA. |
The ultimate controlling party is Gipfel Electrical Holdings Limited. |