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Company No: 14174110 (England and Wales)

PINNACLE LIFTING SOLUTIONS LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

PINNACLE LIFTING SOLUTIONS LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

PINNACLE LIFTING SOLUTIONS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 June 2024
PINNACLE LIFTING SOLUTIONS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 303 404
303 404
Current assets
Debtors 4 21,431 13,416
Cash at bank and in hand 37 1,114
21,468 14,530
Creditors: amounts falling due within one year 5 ( 21,437) ( 15,402)
Net current assets/(liabilities) 31 (872)
Total assets less current liabilities 334 (468)
Net assets/(liabilities) 334 ( 468)
Capital and reserves
Called-up share capital 100 100
Profit and loss account 234 ( 568 )
Total shareholder's funds/(deficit) 334 ( 468)

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Pinnacle Lifting Solutions Limited (registered number: 14174110) were approved and authorised for issue by the Director. They were signed on its behalf by:

A J Crowe
Director

27 June 2025

PINNACLE LIFTING SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
PINNACLE LIFTING SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

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

General information and basis of accounting

Pinnacle Lifting Solutions Limited (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 C/O Larking Gowen 1st Floor Prospect House, Rouen Road, Norwich, NR1 1RE, United Kingdom.

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 £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

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 Statement of Financial Position date.

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 or reducing balance basis over its expected useful life, as follows:

Computer equipment 25 % reducing balance

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like other debtors, creditors and loans from related parties.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Computer equipment Total
£ £
Cost
At 01 July 2023 539 539
At 30 June 2024 539 539
Accumulated depreciation
At 01 July 2023 135 135
Charge for the financial year 101 101
At 30 June 2024 236 236
Net book value
At 30 June 2024 303 303
At 30 June 2023 404 404

4. Debtors

2024 2023
£ £
Trade debtors 16,040 8,025
Other debtors 5,391 5,391
21,431 13,416

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to director 13,808 9,977
Corporation tax 2,419 2,158
Other taxation and social security 2,675 127
Other creditors 2,535 3,140
21,437 15,402

6. Related party transactions

The director has a loan account with the company. Interest is chargeable on these loans at the discretion of the director. The director has agreed that there will be no interest charged on the loans during the year.

At the year end the company owed the director £13,808 (2023: £9,977).