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Registration number: 01694458

Pinnacle Motor Engineering Company Limited

Unaudited Financial Statements

for the Year Ended 31 March 2025

 

Pinnacle Motor Engineering Company Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Financial Statements

3 to 7

 

Pinnacle Motor Engineering Company Limited

(Registration number: 01694458)
Statement of Financial Position as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

492,858

127,185

Investment property

5

253,579

503,579

 

746,437

630,764

Current assets

 

Debtors

6

278,838

259,703

Cash at bank and in hand

 

806,832

871,289

 

1,085,670

1,130,992

Creditors: Amounts falling due within one year

7

(281,481)

(334,332)

Net current assets

 

804,189

796,660

Total assets less current liabilities

 

1,550,626

1,427,424

Provisions for liabilities

(54,532)

(25,951)

Net assets

 

1,496,094

1,401,473

Capital and reserves

 

Called up share capital

64,000

64,000

Revaluation reserve

54,745

-

Other reserves

-

54,745

Retained earnings

1,377,349

1,282,728

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 29 July 2025 and signed on its behalf by:
 

.........................................
Mr P A T Turner
Director

   
     
 

Pinnacle Motor Engineering Company Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Gordon Street
Lancashire Hill
Stockport
Cheshire
SK4 1RS

These financial statements were authorised for issue by the Board on 29 July 2025.

2

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:

Asset class

Depreciation method and rate

Freehold property

Over 25 years

Other

25% reducing balance/ 50% straight line

Property improvements

20% straight line

Investment property

Investment property is included at fair value and any surplus or deficit is dealt with in the Income Statement. Deferred taxation is provided at the rate expected to apply when the property is sold.

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
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the income statement.
 

 

Pinnacle Motor Engineering Company Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2024 - 9).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Property improvements
 £

Total
£

Cost or valuation

At 1 April 2024

119,711

274,049

-

393,760

Additions

-

128,778

26,065

154,843

Transfers to/from investment property

250,000

-

-

250,000

At 31 March 2025

369,711

402,827

26,065

798,603

Depreciation

At 1 April 2024

119,711

146,864

-

266,575

Charge for the year

1,000

37,736

434

39,170

At 31 March 2025

120,711

184,600

434

305,745

Carrying amount

At 31 March 2025

249,000

218,227

25,631

492,858

At 31 March 2024

-

127,185

-

127,185

Included within the net book value of land and buildings above is £249,000 (2024 - £Nil) in respect of freehold land and buildings.
 

5

Investment properties

2025
£

At 1 April 2024

503,579

Transfers to and from owner-occupied property (not to be used after adopting triennial review)

(250,000)

At 31 March 2025

253,579

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

6

Debtors

2025
£

2024
£

Trade debtors

243,386

206,926

Other debtors

29,924

47,534

Prepayments

5,528

5,243

278,838

259,703

7

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

137,423

197,674

Taxation and social security

68,111

91,310

Accruals and deferred income

65,700

41,714

Other creditors

10,247

3,634

281,481

334,332

 

Pinnacle Motor Engineering Company Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

8

Related party transactions

Transactions with directors

2025

At 1 April 2024
£

Advances to director
£

Repayments by director
£

At 31 March 2025
£

Mr P A T Turner

Amounts advanced

31,437

3,260

(28,000)

6,697

Interest charged

570

-

(570)

-

32,007

3,260

(28,570)

6,697

2024

At 1 April 2023
£

Advances to director
£

At 31 March 2024
£

Mr P A T Turner

Amounts advanced

3,437

28,000

31,437

Interest charged

-

570

570

3,437

28,570

32,007