Pinnaclepay Group Limited
Notes to the Financial Statements
For the Period Ended 30 March 2024
Pinnaclepay Group Limited (originally known as Edex Payments Limited, then Blockthree Payments Limited) is a private company limited by shares and is incorporated in England and Wales with the company number 11899874. Its registered office is Unit B1 Hercules Office Park, Bird Hall Lane, Cheadle, Greater Manchester, SK3 0UX.
The company is an Authorised Payment Institution since 20 July 2020 and its Financial Conduct Authority Firm reference number is 912284.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial instruments.
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Pinnaclepay Group Limited
Notes to the Financial Statements
For the Period Ended 30 March 2024
2.Accounting policies (continued)
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
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Pinnaclepay Group Limited
Notes to the Financial Statements
For the Period Ended 30 March 2024
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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Pinnaclepay Group Limited
Notes to the Financial Statements
For the Period Ended 30 March 2024
Summary of the prior year accounting impact: £ Administration fees received - income resulting in a loss becoming a profit 3,315 Increase in debtors £69,609 less creditor of £65,295 4,314 Decrease in creditors - transferred to debtors 65,295
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Pinnaclepay Group Limited
Notes to the Financial Statements
For the Period Ended 30 March 2024
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