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REGISTERED NUMBER: 08749899 (England and Wales)















Financial Statements for the Year Ended 31 October 2023

for

Pegasus Plastering Limited

Pegasus Plastering Limited (Registered number: 08749899)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 6

Pegasus Plastering Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: P R Suckley
S Farrell





REGISTERED OFFICE: 395-397 Woodchurch Road
Prenton
Birkenhead
Merseyside





REGISTERED NUMBER: 08749899 (England and Wales)





ACCOUNTANTS: Cheryl Bostock & Company Accountants Limited
395-397 Woodchurch Road
Prenton
Birkenhead
Merseyside

Pegasus Plastering Limited (Registered number: 08749899)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 43,368 57,207

CURRENT ASSETS
Stocks 3,500 3,200
Debtors 5 291,795 314,459
Cash at bank and in hand 86,812 42,011
382,107 359,670
CREDITORS
Amounts falling due within one year 6 204,877 198,338
NET CURRENT ASSETS 177,230 161,332
TOTAL ASSETS LESS CURRENT
LIABILITIES

220,598

218,539

CREDITORS
Amounts falling due after more than one
year

7

(17,217

)

(21,623

)

PROVISIONS FOR LIABILITIES - (2,386 )
NET ASSETS 203,381 194,530

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 203,379 194,528
SHAREHOLDERS' FUNDS 203,381 194,530

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 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.

Pegasus Plastering Limited (Registered number: 08749899)

Balance Sheet - continued
31 October 2023


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 31 July 2024 and were signed on its behalf by:




P R Suckley - Director



S Farrell - Director


Pegasus Plastering Limited (Registered number: 08749899)

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

1. STATUTORY INFORMATION

Pegasus Plastering 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.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 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.

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 year was NIL (2022 - NIL).

Pegasus Plastering Limited (Registered number: 08749899)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2022 6,889 5,616 92,614 3,919 109,038
Additions - 618 - - 618
At 31 October 2023 6,889 6,234 92,614 3,919 109,656
DEPRECIATION
At 1 November 2022 5,667 1,404 42,765 1,995 51,831
Charge for year 306 1,207 12,463 481 14,457
At 31 October 2023 5,973 2,611 55,228 2,476 66,288
NET BOOK VALUE
At 31 October 2023 916 3,623 37,386 1,443 43,368
At 31 October 2022 1,222 4,212 49,849 1,924 57,207

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 187,146 216,249
Retentions 197,504 165,734
Deferred Retention (122,500 ) (95,000 )
VAT 29,645 27,476
291,795 314,459

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 34,326 40,977
Trade creditors 92,011 80,659
Tax 50,622 30,199
Social security and other taxes 5,983 10,220
Other creditors 2,468 9,454
Credit card 13,024 15,001
Directors' loan accounts 6,443 10,928
Accrued expenses - 900
204,877 198,338

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Hire purchase contracts 17,217 21,623

Pegasus Plastering Limited

Report of the Accountants to the Directors of
Pegasus Plastering Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 October 2023 set out on pages two to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Cheryl Bostock & Company Accountants Limited
395-397 Woodchurch Road
Prenton
Birkenhead
Merseyside


31 July 2024