2023-04-012024-03-312024-03-31false07168359PEGASUS MOTOR CARE 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PEGASUS MOTOR CARE LIMITED

Registered Number
07168359
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

PEGASUS MOTOR CARE LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

ARLOTT, Keith
DANCE, Kevin

Registered Address

Unit 1 Grange Lane
Beenham
Reading
RG7 5PP

Registered Number

07168359 (England and Wales)
PEGASUS MOTOR CARE LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets38,6555,860
8,6555,860
Current assets
Stocks3,8003,800
Debtors410,97511,059
Cash at bank and on hand42,34229,817
57,11744,676
Creditors amounts falling due within one year5(38,162)(29,086)
Net current assets (liabilities)18,95515,590
Total assets less current liabilities27,61021,450
Creditors amounts falling due after one year6(10,452)(18,411)
Provisions for liabilities(1,005)(756)
Net assets16,1532,283
Capital and reserves
Called up share capital44
Profit and loss account16,1492,279
Shareholders' funds16,1532,283
The financial statements were approved and authorised for issue by the Board of Directors on 2 December 2024, and are signed on its behalf by:
DANCE, Kevin
Director
Registered Company No. 07168359
PEGASUS MOTOR CARE LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery25-
Fixtures and fittings-5
Vehicles20-
Office Equipment-4
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 238,242
Additions4,649
At 31 March 2412,891
Depreciation and impairment
At 01 April 232,383
Charge for year1,853
At 31 March 244,236
Net book value
At 31 March 248,655
At 31 March 235,860
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables7,7597,896
Other debtors3,2163,163
Total10,97511,059
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables4,0523,574
Bank borrowings and overdrafts7,5007,500
Taxation and social security23,37514,135
Other creditors660-
Accrued liabilities and deferred income2,5753,877
Total38,16229,086
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts10,45218,411
Total10,45218,411
7.Related party transactions
Credit balances of £100 (2023- Dr £1,700) and £560 (2023- Dr £800) existed on the director loan accounts of Mr K Arlott and Mr K Dance respectively at year end.