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Registered number: 02418829 PINNACLE OFFICE EQUIPMENT LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 MAY 2025
PINNACLE OFFICE EQUIPMENT LIMITED REGISTERED NUMBER: 02418829 BALANCE SHEET AS AT 31 MAY 2025
|  | 2025 |  | As restated 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | 1,000 |  | 1,000
Current assets |  |  |  |  |
Stocks | 6 | 482,325 |  | 736,032 |
Debtors: amounts falling due within one year | 7 | 1,455,949 |  | 4,416,471 |
Bank and cash balances |  | 375,835 |  | 1,059 |
|  | 2,314,109 |  | 5,153,562 |
Creditors: amounts falling due within one year | 8 | (865,255) |  | (4,225,722) |
Net current assets |  |  | 1,448,854 |  | 927,840
Total assets less current liabilities |  |  | 1,449,854 |  | 928,840
Net assets |  |  | 1,449,854 |  | 928,840
Capital and reserves |  |  |  |  |
Called up share capital | 9 |  | 200 |  | 200
Profit and loss account |  |  | 1,449,654 |  | 928,640
|  |  | 1,449,854 |  | 928,840
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 August 2026.
P M Roberts
Director
Page 1
PINNACLE OFFICE EQUIPMENT LIMITED REGISTERED NUMBER: 02418829 BALANCE SHEET (CONTINUED) AS AT 31 MAY 2025 The notes on pages 3 to 9 form part of these financial statements. Page 2
PINNACLE OFFICE EQUIPMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
1. | General information
Pinnacle Office Equipment Limited ("the Company") is a private Company, limited by shares, registered in England and Wales. Its registered office is Vision Court, Caxton Place, Cardiff, South Glamorgan, Wales, CF23 8HA. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The preparation of the financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3). The financial statements are prepared in sterling which is the functional currency of the company and rounded to the nearest pound. The following principal accounting policies have been applied:
| 2.2 | Going concern
The financial statements have been prepared on a going concern basis. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. In making this assessment, the directors have considered the company’s current financial position, cash flow forecasts, and future business plans. Based on this review, the directors believe that the company will be able to meet its liabilities as they fall due for at least twelve months from the date of approval of the financial statements. Page 3
PINNACLE OFFICE EQUIPMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 2.Accounting policies (continued)
| 2.3 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
| 2.4 | Revenue
Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
| 2.5 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
| 2.6 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.7 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds. Page 4
PINNACLE OFFICE EQUIPMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 2.Accounting policies (continued)
| 2.8 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.9 | Exceptional items
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
| 2.10 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, provided on the following basis:. Depreciation is provided on the following basis:
|  |  |  | Motor vehicles | - | 33% | straight-line basis
|  |  |  | Office equipment | - | 20% | straight-line basis
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. Page 5
PINNACLE OFFICE EQUIPMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 2.Accounting policies (continued)
| 2.11 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.12 | Debtors
Short-term debtors are measured at transaction price, less any impairment.
| 2.13 | Creditors
Short-term creditors are measured at the transaction price.
| 2.14 | Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loan from bank and other third parties, loans to related parties and investments in ordinary shares.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Critical accounting estimate and assumptions The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below: i) Impairment of debtors: The Company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors, and historical experience. See note 8 for the net carrying amount of the debtors. ii) Stock: Consumable stocks held at customer premises are expensed to the profit and loss account as they are used. The Company makes an estimate of the estimated useful life/usage of the consumable stock. See note 7 for the carrying value of stock.
4. | Employees
| The average monthly number of employees during the period was 20 (2024 - 22).
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PINNACLE OFFICE EQUIPMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
5. | Tangible fixed assets
|  | Motor vehicles | Office equipment | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 June 2024 | 1,000 | 126,924 | 127,924
| Disposals | - | (7,500) | (7,500)
| At 31 May 2025 | 1,000 | 119,424 | 120,424
| Depreciation |  |  |
| At 1 June 2024 | - | 126,924 | 126,924
| Disposals | - | (7,500) | (7,500)
| At 31 May 2025 | - | 119,424 | 119,424
| Net book value |  |  |
| At 31 May 2025 | 1,000 | - | 1,000
| At 31 May 2024 | 1,000 | - | 1,000
6. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Raw materials and consumables | 482,325 | 736,032
7. | Debtors
|  |  |  |  | 2025 | As restated 2024
|  |  |  |  | £ | £
| Trade debtors | 214,927 | 731,160
| Amounts owed by group undertakings | 1,041,855 | 3,192,421
| Other debtors | 66,262 | 278,465
| Prepayments and accrued income | 132,905 | 214,425
|  | 1,455,949 | 4,416,471
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PINNACLE OFFICE EQUIPMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | As restated 2024
|  |  |  |  | £ | £
| Bank overdrafts | - | 18,469
| Trade creditors | 378,042 | 457,948
| Amounts owed to group undertakings | - | 2,563,292
| Other taxation and social security | 36,205 | 5,420
| Other creditors | 39,538 | 6,439
| Accruals and deferred income | 411,470 | 1,174,154
|  | 865,255 | 4,225,722
9. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 100 (2024 - 100) Ordinary shares of £1.00 each | 100 | 100
|  | 100 (2024 - 100) Ordinary Class B shares of £1.00 each | 100 | 100
|  |  | 200 | 200
| Ordinary Shares carry voting rights, rights to receive dividends, and rights to participate in the distribution of capital on winding up. They do not carry any rights to redemption. Ordinary B Shares carry rights to receive dividends only. They do not carry voting rights and rights to capital on winding up.
10. | Prior year adjustment
During the year, the directors identified material errors relating principally to costs and other adjustments which had not been recognised, or had not been correctly recognised, in the financial statements for the year ended 31 May 2024. The comparative figures have been restated retrospectively to correct these errors. The previously reported profit before tax of £556,189 has been reduced by £1,770,674, resulting in a restated loss before tax of £1,214,485. The corresponding comparative balance sheet figures have also been restated, resulting in a decrease in debtors by £835,183, an increase in creditors by £935,491 and a reduction in retained profits of £1,770,674. There is no effect on the opening balances at 1 June 2023. Page 8
PINNACLE OFFICE EQUIPMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
11. | Contingent liabilities
There is an unlimited cross-guarantee in place in respect of bank facilities of group companies.
12. | Pension commitments
The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £12,312 (2024 - £18,341). At the balance sheet date, there was an amount recoverable from the pension fund of £417 (2024: £6,439 payable to the fund).
13. | Related party transactions
| The company has taken advantage of the exemption available not to disclose related party transactions with companies that are wholly owned within the group as per FRS 102 Section 1AC.35.
14. | Controlling party
The controlling party is Ethos Group Holdings Limited. On 3 March 2026, the ownership changed, and the immediate parent undertaking from this date is Pinnacle Technologies Group Limited. The ultimate controlling party is Pinnacle Technologies Group Holdings Limited.
15. | Auditor's information
The auditor's report on the financial statements for the year ended 31 May 2025 was qualified. The qualification in the audit report was as follows: Basis for qualified opinion We were not appointed as auditor of the company until after 31 May 2025 and thus did not observe the counting of the physical inventories at the end of the year. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 May 2025, which are included in the balance sheet at £482,325, by using other audit procedures. Consequently we were unable to determine whether any adjustment to this amount was necessary. The audit report was signed on 26 August 2026 by Gary Leonard (Senior statutory auditor) on behalf of Barnes Roffe Audit Limited.
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