1 1 Pinnacle Property Scotland Ltd SC719402 false 2024-02-01 2025-01-31 2025-01-31 The principal activity of the company is residential property investment and letting Digita Accounts Production Advanced 6.30.9574.0 true SC719402 2024-02-01 2025-01-31 SC719402 2025-01-31 SC719402 core:OtherReservesSubtotal 2025-01-31 SC719402 core:RetainedEarningsAccumulatedLosses 2025-01-31 SC719402 core:ShareCapital 2025-01-31 SC719402 core:CurrentFinancialInstruments 2025-01-31 SC719402 core:CurrentFinancialInstruments core:WithinOneYear 2025-01-31 SC719402 core:Non-currentFinancialInstruments 2025-01-31 SC719402 core:Non-currentFinancialInstruments core:AfterOneYear 2025-01-31 SC719402 bus:SmallEntities 2024-02-01 2025-01-31 SC719402 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 SC719402 bus:FilletedAccounts 2024-02-01 2025-01-31 SC719402 bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 SC719402 bus:RegisteredOffice 2024-02-01 2025-01-31 SC719402 bus:Director1 2024-02-01 2025-01-31 SC719402 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 SC719402 bus:Agent1 2024-02-01 2025-01-31 SC719402 countries:Scotland 2024-02-01 2025-01-31 SC719402 2024-01-31 SC719402 2023-02-01 2024-01-31 SC719402 2024-01-31 SC719402 core:OtherReservesSubtotal 2024-01-31 SC719402 core:RetainedEarningsAccumulatedLosses 2024-01-31 SC719402 core:ShareCapital 2024-01-31 SC719402 core:CurrentFinancialInstruments 2024-01-31 SC719402 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 SC719402 core:Non-currentFinancialInstruments 2024-01-31 SC719402 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 xbrli:pure iso4217:GBP

Registration number: SC719402

Pinnacle Property Scotland Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

Pinnacle Property Scotland Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

Accountants' Report

8

 

Pinnacle Property Scotland Ltd

Company Information

Director

Mr Scott Cowan

Registered office

Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
Stirlingshire
FK3 8WX

Accountants

EQ Accountants Ltd Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

 

Pinnacle Property Scotland Ltd

(Registration number: SC719402)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Investment property

4

275,000

264,000

Current assets

 

Debtors

5

1,059

1,015

Cash at bank and in hand

 

5,412

3,593

 

6,471

4,608

Creditors: Amounts falling due within one year

6

(175,760)

(176,966)

Net current liabilities

 

(169,289)

(172,358)

Total assets less current liabilities

 

105,711

91,642

Creditors: Amounts falling due after more than one year

6

(62,595)

(65,588)

Provisions for liabilities

(6,114)

(4,024)

Net assets

 

37,002

22,030

Capital and reserves

 

Called up share capital

100

100

Other reserves

26,067

17,157

Retained earnings

10,835

4,773

Shareholders' funds

 

37,002

22,030

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 April 2025
 

 

Pinnacle Property Scotland Ltd

(Registration number: SC719402)
Balance Sheet as at 31 January 2025

.........................................
Mr Scott Cowan
Director

 

Pinnacle Property Scotland Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Pinnacle Property Scotland Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

 

3

Employees and Directors

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

4

Investment properties

2025
£

At 1 February

264,000

Fair value adjustments

11,000

At 31 January

275,000

There has been no valuation of investment property by an independent valuer.

 

Pinnacle Property Scotland Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

5

Debtors

Current

2025
£

2024
£

Prepayments

309

265

Other debtors

750

750

 

1,059

1,015

6

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Taxation and social security

1,507

1,354

Other creditors

174,253

175,612

175,760

176,966

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

7

62,595

65,588

The bank loan due after more than one year is secured on the investment properties. They are interest only with a term of 25 years.

 

Pinnacle Property Scotland Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

7

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

62,595

65,588

8

Related party transactions

Creditors include the following amounts which are owed to individuals who were directors of the company during the year:

2025
 £

2024
 £

Mr Scott Cowan

172,363

174,862

 

172,363

174,862

The maximum balance outstanding during the year amounted to £174,862.

The directors current accounts are repayable on demand.

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Pinnacle Property Scotland Ltd
for the Year Ended 31 January 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pinnacle Property Scotland Ltd for the year ended 31 January 2025 as set out on pages 2 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Pinnacle Property Scotland Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Pinnacle Property Scotland Ltd and state those matters that we have agreed to state to the Board of Directors of Pinnacle Property Scotland Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pinnacle Property Scotland Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Pinnacle Property Scotland Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Pinnacle Property Scotland Ltd. You consider that Pinnacle Property Scotland Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Pinnacle Property Scotland Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

8 April 2025