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Company Registration No. 04433105 (England and Wales)
Pegasus Products Limited Unaudited accounts for the year ended 30 April 2024
Pegasus Products Limited Unaudited accounts Contents
Page
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Pegasus Products Limited Company Information for the year ended 30 April 2024
Director
L Cooper
Company Number
04433105 (England and Wales)
Registered Office
Unit 1D, Riverside Industrial Estate Branch Road Lower Darwen BB3 0PR
Accountants
Pearson & Associates Suite E, Canal Wharf Eshton Road Gargrave, Skipton North Yorkshire BD23 3SE
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Pegasus Products Limited Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
599 
949 
Current assets
Debtors
- 
3,431 
Cash at bank and in hand
5,115 
7,656 
5,115 
11,087 
Creditors: amounts falling due within one year
(2,471)
(10,716)
Net current assets
2,644 
371 
Total assets less current liabilities
3,243 
1,320 
Provisions for liabilities
Deferred tax
(180)
(180)
Net assets
3,063 
1,140 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
3,061 
1,138 
Shareholders' funds
3,063 
1,140 
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 January 2025 and were signed on its behalf by
L Cooper Director Company Registration No. 04433105
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Pegasus Products Limited Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Pegasus Products Limited is a private company, limited by shares, registered in England and Wales, registration number 04433105. The registered office is Unit 1D, Riverside Industrial Estate, Branch Road, Lower Darwen, BB3 0PR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance
Motor vehicles
25% reducing balance
Computer equipment
25% reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Pegasus Products Limited Notes to the Accounts for the year ended 30 April 2024
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 May 2023
16,275 
422 
1,426 
18,123 
At 30 April 2024
16,275 
422 
1,426 
18,123 
Depreciation
At 1 May 2023
15,497 
302 
1,375 
17,174 
Charge for the year
194 
106 
50 
350 
At 30 April 2024
15,691 
408 
1,425 
17,524 
Net book value
At 30 April 2024
584 
14 
1 
599 
At 30 April 2023
778 
120 
51 
949 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
- 
3,431 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
1,415 
3,135 
Other creditors
1,056 
541 
Loans from directors
- 
7,040 
2,471 
10,716 
7
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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