Acorah Software Products - Accounts Production 15.0.500 false true true false 24 February 2023 31 December 2023 31 December 2023 14687036 Mr M Long iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14687036 2023-02-23 14687036 2023-12-31 14687036 2023-02-24 2023-12-31 14687036 frs-core:CurrentFinancialInstruments 2023-12-31 14687036 frs-core:ComputerEquipment 2023-12-31 14687036 frs-core:ComputerEquipment 2023-02-24 2023-12-31 14687036 frs-core:ComputerEquipment 2023-02-23 14687036 frs-core:ShareCapital 2023-12-31 14687036 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 14687036 frs-bus:PrivateLimitedCompanyLtd 2023-02-24 2023-12-31 14687036 frs-bus:FilletedAccounts 2023-02-24 2023-12-31 14687036 frs-bus:SmallEntities 2023-02-24 2023-12-31 14687036 frs-bus:AuditExempt-NoAccountantsReport 2023-02-24 2023-12-31 14687036 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-24 2023-12-31 14687036 frs-bus:Director1 2023-02-24 2023-12-31 14687036 frs-countries:EnglandWales 2023-02-24 2023-12-31
Registered number: 14687036
Pegasus Insight Limited
Unaudited Financial Statements
For the Period 24 February 2023 to 31 December 2023
DB Tax and Accountancy
Unaudited Financial Statements
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 14687036
31 December 2023
Notes £ £
FIXED ASSETS
Tangible Assets 4 7,809
7,809
CURRENT ASSETS
Debtors 5 103,215
Cash at bank and in hand 13,436
116,651
Creditors: Amounts Falling Due Within One Year 6 (113,229 )
NET CURRENT ASSETS (LIABILITIES) 3,422
TOTAL ASSETS LESS CURRENT LIABILITIES 11,231
NET ASSETS 11,231
CAPITAL AND RESERVES
Called up share capital 7 1,000
Profit and Loss Account 10,231
SHAREHOLDERS' FUNDS 11,231
For the period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr M Long
Director
14/08/2024
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Pegasus Insight Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14687036 . The registered office is 25 Pridmore Road, Corby Glen, Grantham, NG33 4JN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
These financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
These financial statements have been prepared under the historical cost convention. The principal accounting policies are set out below.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Significant judgements and estimations
In the application of the company's accounting policies, the director's are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimations and associated assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised when the revision effects that period only.
2.4. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Turnover from the rendering of contracts is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 20% Straight line
Impairment of fixed assets
At the reporting period end date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is an indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Page 2
Page 3
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8.
2.9. Financial instruments
The company has elected to apply the provisions of section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues' of FRS102 to all its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilties are offset with net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 4
4
4. Tangible Assets
Computer Equipment
£
Cost
As at 24 February 2023 -
Additions 10,040
As at 31 December 2023 10,040
Depreciation
As at 24 February 2023 -
Provided during the period 2,231
As at 31 December 2023 2,231
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 December 2023 7,809
As at 24 February 2023 -
5. Debtors
31 December 2023
£
Due within one year
Trade debtors 107,669
Other debtors (4,454)
103,215
6. Creditors: Amounts Falling Due Within One Year
31 December 2023
£
Trade creditors 49,543
Other creditors 44,330
Taxation and social security 19,356
113,229
Other creditors include interest free loans which are repayable on demand.
7. Share Capital
31 December 2023
£
Allotted, Called up and fully paid 1,000
During the period, 1,000 Ordinary shares with a nominal value of £1 each were issued.
Page 4