Silverfin false false 31/12/2024 01/11/2023 31/12/2024 Mr K Hobbs 31/10/2023 Mr D Langmead 15/12/2023 24/12/2003 Mrs F Marley 02/02/2015 Mr E Marley 15/11/2006 13 May 2025 The principal activity of the Company during the financial period was the wholesale supply of flowers and plants. 05003641 2024-12-31 05003641 bus:Director1 2024-12-31 05003641 bus:Director2 2024-12-31 05003641 bus:Director3 2024-12-31 05003641 bus:Director4 2024-12-31 05003641 2023-10-31 05003641 core:CurrentFinancialInstruments 2024-12-31 05003641 core:CurrentFinancialInstruments 2023-10-31 05003641 core:ShareCapital 2024-12-31 05003641 core:ShareCapital 2023-10-31 05003641 core:SharePremium 2024-12-31 05003641 core:SharePremium 2023-10-31 05003641 core:RetainedEarningsAccumulatedLosses 2024-12-31 05003641 core:RetainedEarningsAccumulatedLosses 2023-10-31 05003641 core:Goodwill 2023-10-31 05003641 core:ComputerSoftware 2023-10-31 05003641 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-10-31 05003641 core:Goodwill 2024-12-31 05003641 core:ComputerSoftware 2024-12-31 05003641 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2024-12-31 05003641 core:LeaseholdImprovements 2023-10-31 05003641 core:PlantMachinery 2023-10-31 05003641 core:Vehicles 2023-10-31 05003641 core:OfficeEquipment 2023-10-31 05003641 core:LeaseholdImprovements 2024-12-31 05003641 core:PlantMachinery 2024-12-31 05003641 core:Vehicles 2024-12-31 05003641 core:OfficeEquipment 2024-12-31 05003641 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries core:CurrentFinancialInstruments 2024-12-31 05003641 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries core:CurrentFinancialInstruments 2023-10-31 05003641 bus:OrdinaryShareClass1 2024-12-31 05003641 2023-11-01 2024-12-31 05003641 bus:FilletedAccounts 2023-11-01 2024-12-31 05003641 bus:SmallEntities 2023-11-01 2024-12-31 05003641 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-12-31 05003641 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-12-31 05003641 bus:Director1 2023-11-01 2024-12-31 05003641 bus:Director2 2023-11-01 2024-12-31 05003641 bus:Director3 2023-11-01 2024-12-31 05003641 bus:Director4 2023-11-01 2024-12-31 05003641 core:Goodwill core:TopRangeValue 2023-11-01 2024-12-31 05003641 core:ComputerSoftware core:TopRangeValue 2023-11-01 2024-12-31 05003641 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill core:TopRangeValue 2023-11-01 2024-12-31 05003641 core:Goodwill 2023-11-01 2024-12-31 05003641 core:OtherResidualIntangibleAssets 2023-11-01 2024-12-31 05003641 core:PlantMachinery core:TopRangeValue 2023-11-01 2024-12-31 05003641 core:Vehicles core:TopRangeValue 2023-11-01 2024-12-31 05003641 core:OfficeEquipment core:TopRangeValue 2023-11-01 2024-12-31 05003641 2023-01-01 2023-10-31 05003641 core:ComputerSoftware 2023-11-01 2024-12-31 05003641 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-11-01 2024-12-31 05003641 core:LeaseholdImprovements 2023-11-01 2024-12-31 05003641 core:PlantMachinery 2023-11-01 2024-12-31 05003641 core:Vehicles 2023-11-01 2024-12-31 05003641 core:OfficeEquipment 2023-11-01 2024-12-31 05003641 bus:OrdinaryShareClass1 2023-11-01 2024-12-31 05003641 bus:OrdinaryShareClass1 2023-01-01 2023-10-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 05003641 (England and Wales)

PINNACLE PLANTS INTERNATIONAL LTD

Unaudited Financial Statements
For the financial period from 01 November 2023 to 31 December 2024
Pages for filing with the registrar

PINNACLE PLANTS INTERNATIONAL LTD

Unaudited Financial Statements

For the financial period from 01 November 2023 to 31 December 2024

Contents

PINNACLE PLANTS INTERNATIONAL LTD

BALANCE SHEET

As at 31 December 2024
PINNACLE PLANTS INTERNATIONAL LTD

BALANCE SHEET (continued)

As at 31 December 2024
Note 31.12.2024 31.10.2023
£ £
Fixed assets
Intangible assets 3 379,733 0
Tangible assets 4 66,718 0
446,451 0
Current assets
Stocks 393,110 0
Debtors 5 591,249 0
Cash at bank and in hand 192,621 150,100
1,176,980 150,100
Creditors: amounts falling due within one year 6 ( 1,393,043) 0
Net current (liabilities)/assets (216,063) 150,100
Total assets less current liabilities 230,388 150,100
Provision for liabilities ( 15,500) 0
Net assets 214,888 150,100
Capital and reserves
Called-up share capital 7 200 200
Share premium account 149,900 149,900
Profit and loss account 64,788 0
Total shareholder's funds 214,888 150,100

For the financial period ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Pinnacle Plants International Ltd (registered number: 05003641) were approved and authorised for issue by the Board of Directors on 13 May 2025. They were signed on its behalf by:

Mr E Marley
Director
PINNACLE PLANTS INTERNATIONAL LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 November 2023 to 31 December 2024
PINNACLE PLANTS INTERNATIONAL LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 November 2023 to 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Pinnacle Plants International Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom. The principal place of business is c/o Stourbank Nursery, Ham Lane, Hampreston, Dorset, BH21 7LS.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Reporting period length

The company has prepared accounts to 31 December 2024 in order to align its financial year end with that of the rest of the group companies. As it is the first trading period, there are no comparative amounts presented in the financial statements (including the related notes).

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Turnover in respect of goods shipped to customers outside of the United Kingdom is recognised on dispatch.

Turnover in respect of goods shipped to customers within the United Kingdom is recognised on delivery to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Computer software 4 years straight line
Website costs 4 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Leasehold improvements depreciated over the life of the lease
Plant and machinery 5 years straight line
Vehicles 5 years straight line
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

2. Employees

Period from
01.11.2023 to
31.12.2024
Period from
01.01.2023 to
31.10.2023
Number Number
Monthly average number of persons employed by the Company during the period, including directors 7 0

3. Intangible assets

Goodwill Computer software Website costs Total
£ £ £ £
Cost
At 01 November 2023 0 0 0 0
Additions 424,702 2,957 3,370 431,029
At 31 December 2024 424,702 2,957 3,370 431,029
Accumulated amortisation
At 01 November 2023 0 0 0 0
Charge for the financial period 49,549 862 885 51,296
At 31 December 2024 49,549 862 885 51,296
Net book value
At 31 December 2024 375,153 2,095 2,485 379,733
At 31 October 2023 0 0 0 0

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Office equipment Total
£ £ £ £ £
Cost
At 01 November 2023 0 0 0 0 0
Additions 22,537 35,268 19,539 7,622 84,966
Disposals 0 0 ( 8,345) 0 ( 8,345)
At 31 December 2024 22,537 35,268 11,194 7,622 76,621
Accumulated depreciation
At 01 November 2023 0 0 0 0 0
Charge for the financial period 3,380 4,023 373 2,127 9,903
At 31 December 2024 3,380 4,023 373 2,127 9,903
Net book value
At 31 December 2024 19,157 31,245 10,821 5,495 66,718
At 31 October 2023 0 0 0 0 0

5. Debtors

31.12.2024 31.10.2023
£ £
Trade debtors 344,751 0
Amounts owed by fellow subsidiaries 22,500 0
Prepayments and accrued income 30,561 0
VAT recoverable 2,226 0
Other debtors 191,211 0
591,249 0

6. Creditors: amounts falling due within one year

31.12.2024 31.10.2023
£ £
Trade creditors 164,045 0
Amounts owed to Group undertakings 975,980 0
Amounts owed to directors 472 0
Accruals 13,236 0
Taxation and social security 151,338 0
Other creditors 87,972 0
1,393,043 0

7. Called-up share capital

31.12.2024 31.10.2023
£ £
Allotted, called-up and fully-paid
200 Ordinary shares of £ 1.00 each 200 200

8. Financial commitments

Commitments

31.12.2024 31.10.2023
£ £
Total future minimum lease payments under non-cancellable operating lease 41,250 0

9. Related party transactions

On 1 November 2023, a de-merger transaction resulted in the transfer of trade from Whetman Plants International Limited. The trade which was transferred from this de-merger transaction commenced on 1 November 2023.

10. Ultimate controlling party

Parent Company:

Tresco Holdings Ltd
Centenary House
Peninsula Park
Rydon Lane
Exeter
EX2 7XE