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REGISTERED NUMBER: 08712395 (England and Wales)















Report of the Director and

Unaudited Financial Statements for the Year Ended 31 October 2023

for

Pegasus Law (UK) Limited

Pegasus Law (UK) Limited (Registered number: 08712395)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Report of the Director 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


Pegasus Law (UK) Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: P Flory





SECRETARY: MSS Accountancy Services Ltd





REGISTERED OFFICE: 341 Garratt Lane
Wandsworth
London
SW18 4DX





REGISTERED NUMBER: 08712395 (England and Wales)





ACCOUNTANTS: MSS Accountancy Services Ltd
341 Garratt Lane
Wandsworth
London
SW18 4DX

Pegasus Law (UK) Limited (Registered number: 08712395)

Report of the Director
for the Year Ended 31 October 2023

The director presents his report with the financial statements of the company for the year ended 31 October 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of provision of legal services.

DIRECTOR
P Flory held office during the whole of the period from 1 November 2022 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





P Flory - Director


29 February 2024

Pegasus Law (UK) Limited (Registered number: 08712395)

Income Statement
for the Year Ended 31 October 2023

31.10.23 31.10.22
Notes £    £   

TURNOVER 89,597 190,079

Administrative expenses 64,641 75,143
OPERATING PROFIT 4 24,956 114,936

Interest receivable and similar income 88 2
25,044 114,938

Interest payable and similar expenses 96 98
PROFIT BEFORE TAXATION 24,948 114,840

Tax on profit 6,652 15,141
PROFIT FOR THE FINANCIAL YEAR 18,296 99,699

Pegasus Law (UK) Limited (Registered number: 08712395)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 21,449 33,149

CURRENT ASSETS
Debtors 6 - 8,436
Cash at bank 49,351 51,763
49,351 60,199
CREDITORS
Amounts falling due within one year 7 32,248 65,842
NET CURRENT ASSETS/(LIABILITIES) 17,103 (5,643 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

38,552

27,506

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 38,452 27,406
SHAREHOLDERS' FUNDS 38,552 27,506

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 29 February 2024 and were signed by:





P Flory - Director


Pegasus Law (UK) Limited (Registered number: 08712395)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Pegasus Law (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 33% on cost
Computer equipment - 33% on cost

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Pegasus Law (UK) Limited (Registered number: 08712395)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. OPERATING PROFIT

The operating profit is stated after charging:

31.10.23 31.10.22
£    £   
Depreciation - owned assets 11,700 1,950

5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2022
and 31 October 2023 77,124 7,978 85,102
DEPRECIATION
At 1 November 2022 43,975 7,978 51,953
Charge for year 11,700 - 11,700
At 31 October 2023 55,675 7,978 63,653
NET BOOK VALUE
At 31 October 2023 21,449 - 21,449
At 31 October 2022 33,149 - 33,149

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors - 8,436

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade creditors 947 420
Taxation and social security 9,136 27,284
Other creditors 22,165 38,138
32,248 65,842