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Unaudited Financial Statements

for the Period

1 October 2022 to 31 December 2023

for

Pegasus Classic Engineering Ltd

Pegasus Classic Engineering Ltd (Registered number: 13616895)

Contents of the Financial Statements
for the Period 1 October 2022 to 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Pegasus Classic Engineering Ltd

Company Information
for the Period 1 October 2022 to 31 December 2023







DIRECTORS: T A Foster
Miss S Osborne





REGISTERED OFFICE: 8/10 South Street
Epsom
Surrey
KT18 7PF





REGISTERED NUMBER: 13616895 (England and Wales)





ACCOUNTANTS: Williams & Co Epsom LLP
Chartered Accountants
8-10 South Street
Epsom
Surrey
KT18 7PF

Pegasus Classic Engineering Ltd (Registered number: 13616895)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 87,380 137,674

CURRENT ASSETS
Stocks 112,500 -
Debtors 5 111,005 29,494
Cash at bank 49,993 37,115
273,498 66,609
CREDITORS
Amounts falling due within one year 6 42,271 50,182
NET CURRENT ASSETS 231,227 16,427
TOTAL ASSETS LESS CURRENT
LIABILITIES

318,607

154,101

CREDITORS
Amounts falling due after more than one
year

7

37,483

62,068
NET ASSETS 281,124 92,033

CAPITAL AND RESERVES
Called up share capital 8 13 10
Share premium 485,993 225,995
Retained earnings (204,882 ) (133,972 )
SHAREHOLDERS' FUNDS 281,124 92,033

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

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

The directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 February 2024 and were signed on its behalf by:





T A Foster - Director


Pegasus Classic Engineering Ltd (Registered number: 13616895)

Notes to the Financial Statements
for the Period 1 October 2022 to 31 December 2023


1. STATUTORY INFORMATION

Pegasus Classic Engineering Ltd 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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period 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 period 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2022 - 1 ) .

Pegasus Classic Engineering Ltd (Registered number: 13616895)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 31 December 2023


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 October 2022
and 31 December 2023 22,288 82,088 17,143
DEPRECIATION
At 1 October 2022 7,429 20,522 5,714
Charge for period 7,430 20,522 5,715
At 31 December 2023 14,859 41,044 11,429
NET BOOK VALUE
At 31 December 2023 7,429 41,044 5,714
At 30 September 2022 14,859 61,566 11,429

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2022
and 31 December 2023 66,265 182 187,966
DEPRECIATION
At 1 October 2022 16,566 61 50,292
Charge for period 16,566 61 50,294
At 31 December 2023 33,132 122 100,586
NET BOOK VALUE
At 31 December 2023 33,133 60 87,380
At 30 September 2022 49,699 121 137,674

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 9,185 9,723
Other debtors 15,205 10,205
VAT 4,465 -
Accrued income 73,650 -
Prepayments 8,500 9,566
111,005 29,494

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 25,239 22,476
Trade creditors 14,249 11,821
VAT - 12,707
Directors' current accounts 283 678
Accrued expenses 2,500 2,500
42,271 50,182

Pegasus Classic Engineering Ltd (Registered number: 13616895)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 31 December 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 37,483 62,068

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,250 Ordinary Shares 0.01 13 10

260 Ordinary Shares shares of 0.01 each were allotted as fully paid at a premium of 999.99 per share during the period.

9. OTHER FINANCIAL COMMITMENTS

The company has a lease on the business premises that runs to December 2027 with a break clause in December 2024. Current annual rental is £34,000 pa.