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REGISTERED NUMBER: 05142928 (England and Wales)















PINNACLE LIVING LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024






PINNACLE LIVING LTD (REGISTERED NUMBER: 05142928)

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 4


PINNACLE LIVING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: B H Miller





SECRETARY: J A Miller





REGISTERED OFFICE: The Exchange
5 Bank Street
Bury
Greater Manchester
BL9 0DN





REGISTERED NUMBER: 05142928 (England and Wales)





ACCOUNTANTS: DJH Bury Limited
The Exchange
5 Bank Street
Bury
Lancashire
BL9 0DN

PINNACLE LIVING LTD (REGISTERED NUMBER: 05142928)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 3,767 4,552
Investment property 5 14,280,000 14,280,000
14,283,767 14,284,552

CURRENT ASSETS
Debtors 6 129,565 61,505
Cash at bank and in hand 148,608 150,092
278,173 211,597
CREDITORS
Amounts falling due within one year 7 (8,289,622 ) (8,545,144 )
NET CURRENT LIABILITIES (8,011,449 ) (8,333,547 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,272,318

5,951,005

CREDITORS
Amounts falling due after more than one
year

8

(29,189

)

(34,360

)

PROVISIONS FOR LIABILITIES (1,065,000 ) (650,000 )
NET ASSETS 5,178,129 5,266,645

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Other reserves 3,195,000 3,760,000
Retained earnings 1,982,129 1,505,645
5,178,129 5,266,645

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PINNACLE LIVING LTD (REGISTERED NUMBER: 05142928)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 May 2025 and were signed by:





B H Miller - Director


PINNACLE LIVING LTD (REGISTERED NUMBER: 05142928)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Pinnacle Living Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 05142928 and the registered office address is, The Exchange, 5 Bank Street, Bury, Greater Manchester, BL9 0DN.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The directors are satisfied that the company is a going concern and that the financial statements are correctly prepared on this basis.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

Using the judgment of the directors to determine the fair value of investment properties at the statement of financial position date.

Revenue
Revenue comprises the aggregate of the fair value of the rental services provided, net of value added tax. Revenue is recognised as those services are provided to the occupants of the property.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Investment property
Investment property is shown at fair value. Any aggregates surplus or deficit arising from changes in fair value is recognised in the income statement.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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.


PINNACLE LIVING LTD (REGISTERED NUMBER: 05142928)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 July 2023 24,209
Additions 132
At 30 June 2024 24,341
DEPRECIATION
At 1 July 2023 19,657
Charge for year 917
At 30 June 2024 20,574
NET BOOK VALUE
At 30 June 2024 3,767
At 30 June 2023 4,552

PINNACLE LIVING LTD (REGISTERED NUMBER: 05142928)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 14,280,000
NET BOOK VALUE
At 30 June 2024 14,280,000
At 30 June 2023 14,280,000

The investment properties have been valued at fair value on 30 June 2024 by the director of the company, using observable market data.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,464 2,797
Amounts owed by group 128,101 58,708
129,565 61,505

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,171 5,171
Trade creditors 689 4,328
Amounts owed to group 7,781,253 8,097,833
Taxation and social security 33,009 12,337
Other creditors 469,500 425,475
8,289,622 8,545,144

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 29,189 34,360