REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Statements for the Year Ended 30 June 2020 |
|
for |
|
Pinnacle Commercial Property Ltd |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Statements for the Year Ended 30 June 2020 |
|
for |
|
Pinnacle Commercial Property Ltd |
Pinnacle Commercial Property Ltd (Registered number: 10594575) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the Year Ended 30 June 2020 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
Pinnacle Commercial Property Ltd |
|
Company Information |
for the Year Ended 30 June 2020 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
116 Duke Street |
Liverpool |
Merseyside |
L1 5JW |
Pinnacle Commercial Property Ltd (Registered number: 10594575) |
|
Balance Sheet |
30 June 2020 |
|
30.6.20 | 30.6.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
|
|
|
CURRENT ASSETS |
Cash at bank |
|
|
|
CREDITORS |
Amounts falling due within one year | 5 |
|
|
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
6 |
( |
) |
( |
) |
|
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
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 Commercial Property Ltd (Registered number: 10594575) |
|
Balance Sheet - continued |
30 June 2020 |
|
|
|
|
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
by: |
|
|
|
|
|
|
|
Pinnacle Commercial Property Ltd (Registered number: 10594575) |
|
Notes to the Financial Statements |
for the Year Ended 30 June 2020 |
|
1. | STATUTORY INFORMATION |
|
Pinnacle Commercial Property Ltd is a private company, limited by shares, registered in England and Wales. The |
company's registered number is 10594575 and the registered office is Unit 4, Turbine Road, Turbine Business |
Park, Birkenhead, Merseyside CH41 9BA. |
|
The functional currency of the financial statements is the Pound Sterling (£). |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
The director believes that the going concern assumption is appropriate despite the net current liability position |
as he believes the company will be able to meet it's obligations as they become due. |
|
Significant judgements and estimates |
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts |
recognised in the financial statements. |
|
Turnover |
Turnover represents the rental income from investment properties and is measured at the fair value of the |
consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Income |
is recognised in the period where the rent becomes due. |
|
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
fair value is recognised in profit or loss. |
|
Financial instruments |
Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, |
and subsequently at amortised cost using the effective interest method. |
|
Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are |
measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
|
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 balance sheet date. |
|
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet 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. |
Pinnacle Commercial Property Ltd (Registered number: 10594575) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2020 |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was NIL (2019 - NIL). |
|
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2019 |
and 30 June 2020 |
|
NET BOOK VALUE |
At 30 June 2020 |
|
At 30 June 2019 |
|
|
Fair value at 30 June 2020 is represented by: |
|
£ |
Valuation in 2018 | 90,712 |
Cost | 578,288 |
669,000 |
|
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.20 | 30.6.19 |
£ | £ |
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
Amounts owed to participating interests | 117,758 | 137,758 |
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
30.6.20 | 30.6.19 |
£ | £ |
Bank loans |
|
|
|
7. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
30.6.20 | 30.6.19 |
£ | £ |
Bank loans |
|
|
|
8. | RELATED PARTY DISCLOSURES |
|
Included in other creditors at the balance sheet date is an amount of £117,758 (2019 £137,758) owed to Pinnacle |
Electrical Supplies Ltd, a related party due to common shareholders. As this loan is repayable on demand no |
interest has been charged. |