Registration number:
Pinnacle Motor Engineering Company Limited
for the Year Ended 31 March 2025
Pinnacle Motor Engineering Company Limited
Contents
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Statement of Financial Position |
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Notes to the Financial Statements |
Pinnacle Motor Engineering Company Limited
(Registration number: 01694458)
Statement of Financial Position as at 31 March 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
64,000 |
64,000 |
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Revaluation reserve |
54,745 |
- |
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Other reserves |
- |
54,745 |
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Retained earnings |
1,377,349 |
1,282,728 |
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Shareholders' funds |
1,496,094 |
1,401,473 |
Pinnacle Motor Engineering Company Limited
(Registration number: 01694458)
Statement of Financial Position as at 31 March 2025
For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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......................................... |
Pinnacle Motor Engineering Company Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
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.
Pinnacle Motor Engineering Company Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
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.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Freehold property |
Over 25 years |
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Other |
25% reducing balance/ 50% straight line |
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Property improvements |
20% straight line |
Investment property
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
Pinnacle Motor Engineering Company Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Tangible assets |
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Land and buildings |
Furniture, fittings and equipment |
Property improvements |
Total |
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Cost or valuation |
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At 1 April 2024 |
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- |
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Additions |
- |
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Transfers to/from investment property |
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- |
- |
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At 31 March 2025 |
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Depreciation |
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At 1 April 2024 |
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- |
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Charge for the year |
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At 31 March 2025 |
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Carrying amount |
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At 31 March 2025 |
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At 31 March 2024 |
- |
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- |
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Included within the net book value of land and buildings above is £249,000 (2024 - £Nil) in respect of freehold land and buildings.
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Investment properties |
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2025 |
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At 1 April 2024 |
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Transfers to and from owner-occupied property (not to be used after adopting triennial review) |
( |
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At 31 March 2025 |
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The director, Mr P A T Turner, considers that the value of the Investment property at 31 March 2025 remains unchanged from its original cost of £253,579. This valuation is on an open market basis. The Investment property known as Sheffield Street was transferred to Land and Buildings on 1 January 2025 and is now used in the businesses operations.
Pinnacle Motor Engineering Company Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
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Debtors |
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2025 |
2024 |
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Trade debtors |
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Other debtors |
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Prepayments |
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Creditors |
Creditors: amounts falling due within one year
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2025 |
2024 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Pinnacle Motor Engineering Company Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
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Related party transactions |
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Transactions with directors |
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2025 |
At 1 April 2024 |
Advances to director |
Repayments by director |
At 31 March 2025 |
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Mr P A T Turner |
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Amounts advanced |
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( |
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Interest charged |
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- |
( |
- |
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32,007 |
3,260 |
(28,570) |
6,697 |
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2024 |
At 1 April 2023 |
Advances to director |
At 31 March 2024 |
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Mr P A T Turner |
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Amounts advanced |
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Interest charged |
- |
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3,437 |
28,570 |
32,007 |
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