0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 38,157 38,157 38,157 1 1 1 xbrli:pure xbrli:shares iso4217:GBP SC727468 2023-04-01 2024-03-31 SC727468 2024-03-31 SC727468 2023-03-31 SC727468 2022-03-24 2023-03-31 SC727468 2023-03-31 SC727468 2022-03-23 SC727468 bus:Director1 2023-04-01 2024-03-31 SC727468 core:PlantMachinery 2023-04-01 2024-03-31 SC727468 core:WithinOneYear 2024-03-31 SC727468 core:WithinOneYear 2023-03-31 SC727468 core:ShareCapital 2024-03-31 SC727468 core:ShareCapital 2023-03-31 SC727468 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC727468 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC727468 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-03-31 SC727468 core:CostValuation core:Non-currentFinancialInstruments 2024-03-31 SC727468 core:Non-currentFinancialInstruments 2024-03-31 SC727468 core:PlantMachinery 2024-03-31 SC727468 bus:SmallEntities 2023-04-01 2024-03-31 SC727468 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC727468 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC727468 bus:EntityHasNeverTraded 2023-04-01 2024-03-31 SC727468 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC727468 bus:FullAccounts 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: SC727468
Pegasus Private Charter Company Ltd
Filleted Unaudited Financial Statements
For the year ended
31 March 2024
Pegasus Private Charter Company Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
38,157
Investments
5
1
--------
----
38,158
Current assets
Debtors
6
2,403
Cash at bank and in hand
29,103
52,420
--------
--------
31,506
52,420
Creditors: amounts falling due within one year
7
900
600
--------
--------
Net current assets
30,606
51,820
--------
--------
Total assets less current liabilities
68,764
51,820
--------
--------
Net assets
68,764
51,820
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
68,664
51,720
--------
--------
Shareholder funds
68,764
51,820
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Pegasus Private Charter Company Ltd
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 12 September 2024 , and are signed on behalf of the board by:
R J Watts
Director
Company registration number: SC727468
Pegasus Private Charter Company Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 33 Kittoch Street, East Kilbride, G74 4JW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Tangible assets
Plant and machinery
£
Cost
At 1 April 2023
Additions
38,157
--------
At 31 March 2024
38,157
--------
Depreciation
At 1 April 2023 and 31 March 2024
--------
Carrying amount
At 31 March 2024
38,157
--------
At 31 March 2023
--------
5. Investments
Other investments other than loans
£
Cost
At 1 April 2023
Additions
1
----
At 31 March 2024
1
----
Impairment
At 1 April 2023 and 31 March 2024
----
Carrying amount
At 31 March 2024
1
----
At 31 March 2023
----
6. Debtors
2024
2023
£
£
Other debtors
2,403
-------
----
7. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
900
600
----
----