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REGISTERED NUMBER: SC209245 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Pegasus Power And Communications Ltd.

Pegasus Power And Communications Ltd. (Registered number: SC209245)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pegasus Power And Communications Ltd.

Company Information
for the Year Ended 31 July 2024







DIRECTORS: S Avery
G Hughes
D Campbell



SECRETARY: Mrs L Campbell



REGISTERED OFFICE: Drumsack Farm off Blacklands Road
Chryston
Glasgow
G69 9JG



REGISTERED NUMBER: SC209245 (Scotland)



ACCOUNTANTS: Gerber Landa & Gee
Chartered Accountants
Pavilion 1
Finnieston Business Park
Minerva Way
GLASGOW
G3 8AU



BANKERS: Royal Bank of Scotland plc
Livingston Branch
4 Almondvale South
Livingston
EH54 6NB

Pegasus Power And Communications Ltd. (Registered number: SC209245)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 419,442 276,262

CURRENT ASSETS
Stocks 172,324 192,713
Debtors 5 1,905,238 1,616,518
Cash at bank 1,018,430 1,367,179
3,095,992 3,176,410
CREDITORS
Amounts falling due within one year 6 1,046,105 988,720
NET CURRENT ASSETS 2,049,887 2,187,690
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,469,329

2,463,952

PROVISIONS FOR LIABILITIES 108,386 69,066
NET ASSETS 2,360,943 2,394,886

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,360,843 2,394,786
SHAREHOLDERS' FUNDS 2,360,943 2,394,886

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 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.

Pegasus Power And Communications Ltd. (Registered number: SC209245)

Balance Sheet - continued
31 July 2024


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 3 December 2024 and were signed on its behalf by:




S Avery - Director



D Campbell - Director


Pegasus Power And Communications Ltd. (Registered number: SC209245)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Pegasus Power And Communications Ltd. is a private company, limited by shares , registered in Scotland. 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.

The financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £.

Critical accounting judgements and key sources of estimation uncertainty
Preparation of the financial statements requires management to make significant judgements and estimates. The material items in the financial statements where judgements and estimates have been made relate to the costs to completion of larger contracts.

Turnover
Revenue from contracts to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of each individual contract providing that the amount of revenue can be measured reliably, it is probable that the company will receive the consideration due and the costs can be measured reliably.

The company is involved in the construction industry and generates the majority of its turnover from long-term contracts. The profitability of each contract varies over its life. The directors regularly review the performance of each contract to assess periodic profit recognition.

Adjustments are made over the life of each contract to determine the profits expected to be generated. It is necessary to consider the timing and quantification of ongoing income and expenditure streams. At each financial year end, this process involves analysing the stage of completion, future costs and work yet to be completed in respect of each ongoing contract, together with anticipating any future costs arising post contract completion.If the outcome of a contract cannot be measured reliably, all costs are expensed and revenue is only recognised to the extent that it is probable costs are recoverable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on cost, 20% on cost and 10% on cost

Financial instruments
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.

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

Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held with banks.


Pegasus Power And Communications Ltd. (Registered number: SC209245)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Amounts recoverable on contracts
Amounts recoverable on contracts include certified and uncertified amounts due from contract customers including retentions.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 28 ) .

Pegasus Power And Communications Ltd. (Registered number: SC209245)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 1,226,286
Additions 334,892
Disposals (149,616 )
At 31 July 2024 1,411,562
DEPRECIATION
At 1 August 2023 950,024
Charge for year 191,712
Eliminated on disposal (149,616 )
At 31 July 2024 992,120
NET BOOK VALUE
At 31 July 2024 419,442
At 31 July 2023 276,262

5. DEBTORS
31.7.24 31.7.23
£    £   
Amounts falling due within one year:
Amounts recoverable on contracts 1,824,605 1,236,429
VAT - 23,208
Prepayments 20,055 16,051
1,844,660 1,275,688

Amounts falling due after more than one year:
Amounts recoverable on contract 60,578 340,830

Aggregate amounts 1,905,238 1,616,518

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 2,008 586
Trade creditors 565,610 426,448
Tax 60,345 118,452
Social security and other taxes 27,651 37,551
VAT 39,851 -
Accrued expenses 350,640 405,683
1,046,105 988,720

7. ULTIMATE CONTROLLING PARTY

No individual has overall control of the Company.