Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31falsetrue22023-06-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truereiceve income from Scotch LLP2false 07990312 2023-06-01 2024-05-31 07990312 2022-06-01 2023-05-31 07990312 2024-05-31 07990312 2023-05-31 07990312 c:Director1 2023-06-01 2024-05-31 07990312 d:CurrentFinancialInstruments 2024-05-31 07990312 d:CurrentFinancialInstruments 2023-05-31 07990312 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 07990312 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 07990312 d:ShareCapital 2024-05-31 07990312 d:ShareCapital 2023-05-31 07990312 d:RetainedEarningsAccumulatedLosses 2024-05-31 07990312 d:RetainedEarningsAccumulatedLosses 2023-05-31 07990312 c:FRS102 2023-06-01 2024-05-31 07990312 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 07990312 c:FullAccounts 2023-06-01 2024-05-31 07990312 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 07990312 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 07990312









PEGASUS7 LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
PEGASUS7 LIMITED
REGISTERED NUMBER: 07990312

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
669,515
610,951

Cash at bank and in hand
 6 
275,807
194,547

  
945,322
805,498

Creditors: amounts falling due within one year
 7 
(112,385)
(78,170)

Net current assets
  
 
 
832,937
 
 
727,328

Total assets less current liabilities
  
832,937
727,328

  

Net assets
  
832,937
727,328


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
832,837
727,228

  
832,937
727,328


The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

N Simmonds
Director

Date: 22 November 2024

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
PEGASUS7 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Pegasus7 Limited is a company limited by shares and incorporated in England & Wales under the Companies Act 2006. The address of the registered office is given on the company information page. The nature of the Company's operations and its principal activities are set out in the Directors’ report.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 2

 
PEGASUS7 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of estimation means the actual outcomes could differ from those estimates.


4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


5.


Debtors

2024
2023
£
£


Other debtors
669,515
610,951

669,515
610,951



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
275,807
194,547

275,807
194,547


Page 3

 
PEGASUS7 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
106,484
72,269

Other creditors
5,901
5,901

112,385
78,170



8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £nil (2023 - £10,000).


9.


Related party transactions

Pegasus7 Limited is a corporate member of Scotch Partners LLP. Included in other debtors is an amount due from the LLP of £669,515 (2023: £610,951).
Included in other creditors there is a Directors loan of £5,901 
(2023: £5,901) provided to the company. Interest of 0% is paid on this loan and it is repayable on demand.

 
Page 4