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Company Registration No. 07031253 (England and Wales)
PEGASUS WELDING SERVICES LIMITED Unaudited accounts for the year ended 30 September 2023
PEGASUS WELDING SERVICES LIMITED Unaudited accounts Contents
Page
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PEGASUS WELDING SERVICES LIMITED Company Information for the year ended 30 September 2023
Director
Gary Durant
Company Number
07031253 (England and Wales)
Registered Office
4 Walbury Close Lincoln LN5 9TN United Kingdom
Accountants
M D Darby FCPA, CPAA, FIAB, ACCA/Cert:IFR, IFRS, IPSAS, IA Templar Accounting & Business Support Services Limited (Incorp: Blake and Co ) 112 - 113 High Street, Lincoln, Lincolnshire LN5 7PY
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PEGASUS WELDING SERVICES LIMITED Statement of financial position as at 30 September 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
11,187 
7,713 
Current assets
Debtors
3,845 
13,573 
Cash at bank and in hand
91,358 
46,768 
95,203 
60,341 
Creditors: amounts falling due within one year
(16,675)
(10,042)
Net current assets
78,528 
50,299 
Total assets less current liabilities
89,715 
58,012 
Provisions for liabilities
Deferred tax
(1,137)
(477)
Net assets
88,578 
57,535 
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
87,578 
56,535 
Shareholders' funds
88,578 
57,535 
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 February 2024 and were signed on its behalf by
Gary Durant Director Company Registration No. 07031253
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PEGASUS WELDING SERVICES LIMITED Notes to the Accounts for the year ended 30 September 2023
1
Statutory information
PEGASUS WELDING SERVICES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07031253. The registered office is 4 Walbury Close, Lincoln, LN5 9TN, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing balance
Fixtures & fittings
25% Reducing balance
Computer equipment
25% Reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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PEGASUS WELDING SERVICES LIMITED Notes to the Accounts for the year ended 30 September 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 October 2022
5,692 
6,212 
- 
770 
12,674 
Additions
1,700 
- 
4,250 
1,250 
7,200 
At 30 September 2023
7,392 
6,212 
4,250 
2,020 
19,874 
Depreciation
At 1 October 2022
1,838 
2,717 
- 
406 
4,961 
Charge for the year
1,388 
873 
1,062 
403 
3,726 
At 30 September 2023
3,226 
3,590 
1,062 
809 
8,687 
Net book value
At 30 September 2023
4,166 
2,622 
3,188 
1,211 
11,187 
At 30 September 2022
3,854 
3,495 
- 
364 
7,713 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
3,845 
13,573 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
3,275 
3,231 
Trade creditors
1,088 
1,907 
Taxes and social security
6,725 
2,064 
Loans from directors
4,987 
2,300 
Accruals
600 
540 
16,675 
10,042 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000 
1,000 
8
Operating lease commitments
2023 
2022 
£ 
£ 
At 30 September 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
- 
9,000 
Later than one year and not later than five years
- 
27,000 
- 
36,000 
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PEGASUS WELDING SERVICES LIMITED Notes to the Accounts for the year ended 30 September 2023
9
Controlling party
Mr G Durant holds 100% of the ordinary voting shares of the company
10
Average number of employees
During the year the average number of employees was 2 (2022: 1).
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