Company No:
Contents
| Note | 31.12.2024 | 31.10.2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Intangible assets | 3 |
|
|
|
| Tangible assets | 4 |
|
|
|
| 446,451 | 0 | |||
| Current assets | ||||
| Stocks |
|
|
||
| Debtors | 5 |
|
|
|
| Cash at bank and in hand |
|
|
||
| 1,176,980 | 150,100 | |||
| Creditors: amounts falling due within one year | 6 | (
|
|
|
| Net current (liabilities)/assets | (216,063) | 150,100 | ||
| Total assets less current liabilities | 230,388 | 150,100 | ||
| Provision for liabilities | (
|
|
||
| Net assets |
|
|
||
| Capital and reserves | ||||
| Called-up share capital | 7 |
|
|
|
| Share premium account |
|
|
||
| Profit and loss account |
|
|
||
| Total shareholder's funds |
|
|
Directors' responsibilities:
The financial statements of Pinnacle Plants International Ltd (registered number:
|
Mr E Marley
Director |
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.
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 £.
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).
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.
Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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.
| Goodwill |
|
| Computer software |
|
| Website costs |
|
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.
| Leasehold improvements | depreciated over the life of the lease |
| Plant and machinery |
|
| Vehicles |
|
| Office equipment |
|
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.
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.
| 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 |
|
|
| Goodwill | Computer software | Website costs | Total | ||||
| £ | £ | £ | £ | ||||
| Cost | |||||||
| At 01 November 2023 |
|
|
|
|
|||
| Additions |
|
|
|
|
|||
| At 31 December 2024 |
|
|
|
|
|||
| Accumulated amortisation | |||||||
| At 01 November 2023 |
|
|
|
|
|||
| Charge for the financial period |
|
|
|
|
|||
| At 31 December 2024 |
|
|
|
|
|||
| Net book value | |||||||
| At 31 December 2024 |
|
|
|
|
|||
| At 31 October 2023 |
|
|
|
|
| Leasehold improve- ments |
Plant and machinery | Vehicles | Office equipment | Total | |||||
| £ | £ | £ | £ | £ | |||||
| Cost | |||||||||
| At 01 November 2023 |
|
|
|
|
|
||||
| Additions |
|
|
|
|
|
||||
| Disposals |
|
|
(
|
|
(
|
||||
| At 31 December 2024 |
|
|
|
|
|
||||
| Accumulated depreciation | |||||||||
| At 01 November 2023 |
|
|
|
|
|
||||
| Charge for the financial period |
|
|
|
|
|
||||
| At 31 December 2024 |
|
|
|
|
|
||||
| Net book value | |||||||||
| At 31 December 2024 |
|
|
|
|
|
||||
| At 31 October 2023 |
|
|
|
|
|
| 31.12.2024 | 31.10.2023 | ||
| £ | £ | ||
| Trade debtors |
|
|
|
| Amounts owed by fellow subsidiaries |
|
|
|
| Prepayments and accrued income |
|
|
|
| VAT recoverable |
|
|
|
| Other debtors |
|
|
|
|
|
|
| 31.12.2024 | 31.10.2023 | ||
| £ | £ | ||
| Trade creditors |
|
|
|
| Amounts owed to Group undertakings |
|
|
|
| Amounts owed to directors |
|
|
|
| Accruals |
|
|
|
| Taxation and social security |
|
|
|
| Other creditors |
|
|
|
|
|
|
| 31.12.2024 | 31.10.2023 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
|
|
|
|
Commitments
| 31.12.2024 | 31.10.2023 | ||
| £ | £ | ||
| Total future minimum lease payments under non-cancellable operating lease |
|
|
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.
Parent Company:
|
|
| Centenary House Peninsula Park Rydon Lane Exeter EX2 7XE |