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REGISTERED NUMBER: 03472168 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Pegasus Fork Truck Services Ltd

Pegasus Fork Truck Services Ltd (Registered number: 03472168)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Pegasus Fork Truck Services Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Mr K W Worthy
Mr A D Worthy





REGISTERED OFFICE: Lone Feld
Ladymead Lane
Langford
NORTH SOMERSET
BS40 5EF





REGISTERED NUMBER: 03472168 (England and Wales)





ACCOUNTANTS: Wormald & Partners
Chartered Accountants (ICAEW)
Redland House
157 Redland Road
Redland
Bristol
BS6 6YE

Pegasus Fork Truck Services Ltd (Registered number: 03472168)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 52,100 46,003

CURRENT ASSETS
Stocks 5 23,150 11,964
Debtors 6 15,696 29,814
Cash at bank 33,038 49,754
71,884 91,532
CREDITORS
Amounts falling due within one year 7 34,498 42,953
NET CURRENT ASSETS 37,386 48,579
TOTAL ASSETS LESS CURRENT
LIABILITIES

89,486

94,582

CREDITORS
Amounts falling due after more than one
year

8

(1,618

)

(9,686

)

PROVISIONS FOR LIABILITIES (7,571 ) (10,031 )
NET ASSETS 80,297 74,865

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 10 79,297 73,865
SHAREHOLDERS' FUNDS 80,297 74,865

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 2 May 2024 and were signed on its behalf by:





Mr K W Worthy - Director


Pegasus Fork Truck Services Ltd (Registered number: 03472168)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Pegasus Fork Truck Services 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 represent sales and the supply of services net of vaue added tax.


Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance basis
Fork Lift Trucks - 15% on reducing balance basis
Motor vehicles - 25% on reducing balance basis

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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 3 (2022 - 3 ) .

Pegasus Fork Truck Services Ltd (Registered number: 03472168)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS
Plant and Fork Lift Motor
machinery Trucks vehicles Totals
£    £    £    £   
COST
At 1 December 2022 31,819 39,198 42,103 113,120
Additions - 26,706 - 26,706
Disposals - (14,262 ) (14,603 ) (28,865 )
At 30 November 2023 31,819 51,642 27,500 110,961
DEPRECIATION
At 1 December 2022 27,430 15,052 24,635 67,117
Charge for year 1,097 2,154 3,990 7,241
Eliminated on disposal - (3,982 ) (11,515 ) (15,497 )
At 30 November 2023 28,527 13,224 17,110 58,861
NET BOOK VALUE
At 30 November 2023 3,292 38,418 10,390 52,100
At 30 November 2022 4,389 24,146 17,468 46,003

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 December 2022
and 30 November 2023 12,750
DEPRECIATION
At 1 December 2022 12,341
Charge for year 179
At 30 November 2023 12,520
NET BOOK VALUE
At 30 November 2023 230
At 30 November 2022 409

5. STOCKS
2023 2022
£    £   
Stocks 23,150 11,964

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 14,996 29,114
Prepayments 700 700
15,696 29,814

Pegasus Fork Truck Services Ltd (Registered number: 03472168)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,219 -
Trade creditors 6,235 12,711
Tax - 5,502
Social security and other taxes 352 456
Pension 109 1,423
VAT 3,383 1,417
Directors' loan accounts 19,219 19,615
Accrued expenses 1,981 1,829
34,498 42,953

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bounceback Loan 1,618 9,686

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bounceback Loan 1,618 9,686

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary Shares £1 1,000 1,000

10. RESERVES
Retained
earnings
£   

At 1 December 2022 73,865
Profit for the year 5,432
At 30 November 2023 79,297