Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-31Property renting and management services, vehicle leasing services and buying and sale of vehicles2023-04-01false11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10095397 2023-04-01 2024-03-31 10095397 2022-04-01 2023-03-31 10095397 2024-03-31 10095397 2023-03-31 10095397 c:Director1 2023-04-01 2024-03-31 10095397 d:MotorVehicles 2023-04-01 2024-03-31 10095397 d:MotorVehicles 2024-03-31 10095397 d:MotorVehicles 2023-03-31 10095397 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10095397 d:OfficeEquipment 2023-04-01 2024-03-31 10095397 d:OfficeEquipment 2024-03-31 10095397 d:OfficeEquipment 2023-03-31 10095397 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10095397 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10095397 d:CurrentFinancialInstruments 2024-03-31 10095397 d:CurrentFinancialInstruments 2023-03-31 10095397 d:Non-currentFinancialInstruments 2024-03-31 10095397 d:Non-currentFinancialInstruments 2023-03-31 10095397 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10095397 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10095397 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 10095397 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 10095397 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 10095397 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 10095397 d:ShareCapital 2024-03-31 10095397 d:ShareCapital 2023-03-31 10095397 d:RevaluationReserve 2023-04-01 2024-03-31 10095397 d:RevaluationReserve 2024-03-31 10095397 d:RevaluationReserve 2023-03-31 10095397 d:RetainedEarningsAccumulatedLosses 2024-03-31 10095397 d:RetainedEarningsAccumulatedLosses 2023-03-31 10095397 c:FRS102 2023-04-01 2024-03-31 10095397 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10095397 c:FullAccounts 2023-04-01 2024-03-31 10095397 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10095397 d:HirePurchaseContracts d:WithinOneYear 2024-03-31 10095397 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 10095397 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-03-31 10095397 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 10095397 2 2023-04-01 2024-03-31 10095397 5 2023-04-01 2024-03-31 10095397 6 2023-04-01 2024-03-31 10095397 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-03-31 10095397 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-03-31 10095397 d:LeasedAssetsHeldAsLessee 2024-03-31 10095397 d:LeasedAssetsHeldAsLessee 2023-03-31 10095397 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 10095397










PEGASUS INVESTMENTS & ASSET MANAGEMENT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
PEGASUS INVESTMENTS & ASSET MANAGEMENT LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OFPEGASUS INVESTMENTS & ASSET MANAGEMENT LIMITED
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pegasus Investments & Asset Management Limited for the year ended 31 March 2024 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given to us.
 

This report is made solely to the Board of Directors of Pegasus Investments & Asset Management Limited, as a body, in accordance with the terms of our agreement. Our work has been undertaken solely to prepare for your approval the financial statements of Pegasus Investments & Asset Management Limited and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pegasus Investments & Asset Management Limited and its  Board of Directors, as a body, for our work or for this report.
 
 
It is your duty to ensure that Pegasus Investments & Asset Management Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and loss. You consider that Pegasus Investments & Asset Management Limited is exempt from the statutory audit requirement for the year.
 
 
We have not been instructed to carry out an audit or review of the financial statements of Pegasus Investments & Asset Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.





Shipleys Tax Planning

18 February 2025
Page 1

 
PEGASUS INVESTMENTS & ASSET MANAGEMENT LIMITED
REGISTERED NUMBER: 10095397

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 3 
645,155
688,357

Investments
 4 
104,990
104,990

  
750,145
793,347

Current assets
  

Debtors: amounts falling due within one year
 5 
54,534
71,668

Cash at bank and in hand
 6 
12,020
10,384

  
66,554
82,052

Creditors: amounts falling due within one year
 7 
(489,017)
(441,005)

Net current liabilities
  
 
 
(422,463)
 
 
(358,953)

Total assets less current liabilities
  
327,682
434,394

Creditors: amounts falling due after more than one year
 8 
(312,530)
(392,947)

  

Net assets
  
15,152
41,447


Capital and reserves
  

Called up share capital 
  
2
2

Revaluation reserve
 11 
14,990
14,990

Profit and loss account
 11 
160
26,455

  
15,152
41,447


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 statement of comprehensive income 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 on 18 February 2025.

Page 2

 
PEGASUS INVESTMENTS & ASSET MANAGEMENT LIMITED
REGISTERED NUMBER: 10095397

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024




Mark Silcock
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
PEGASUS INVESTMENTS & ASSET MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Pegasus Investments & Asset Management Limited is a company domiciled in England & Wales, registration number 10095397. The registered office is 210 White Lane, Sheffield, S12 3GL.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
PEGASUS INVESTMENTS & ASSET MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
10%
reducing balance
Office equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
PEGASUS INVESTMENTS & ASSET MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

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.

Page 6

 
PEGASUS INVESTMENTS & ASSET MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
894,516
900
895,416


Additions
99,973
-
99,973


Disposals
(124,042)
-
(124,042)



At 31 March 2024

870,447
900
871,347



Depreciation


At 1 April 2023
206,608
450
207,058


Charge for the year on owned assets
72,636
225
72,861


Disposals
(53,727)
-
(53,727)



At 31 March 2024

225,517
675
226,192



Net book value



At 31 March 2024
644,930
225
645,155



At 31 March 2023
687,907
450
688,357

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
578,544
660,025

578,544
660,025

Page 7

 
PEGASUS INVESTMENTS & ASSET MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 April 2023
104,990



At 31 March 2024
104,990





5.


Debtors

2024
2023
£
£


Trade debtors
14,534
31,668

Other debtors
40,000
40,000

54,534
71,668



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
12,020
10,384

12,020
10,384



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
33,910
35,748

Corporation tax
-
4,815

Other taxation and social security
9,175
916

Obligations under finance lease and hire purchase contracts
146,188
110,917

Other creditors
298,944
287,176

Accruals and deferred income
800
1,433

489,017
441,005


Page 8

 
PEGASUS INVESTMENTS & ASSET MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
23,276
33,227

Net obligations under finance leases and hire purchase contracts
289,254
359,720

312,530
392,947


In 2020 the company received the Government Bounce Back Loan from HSBC of £50,000. The loan is interest free for 12 months, after which interest is charged at 2.5% per annum. The loan is repayable to HSBC after a period of 3 years (2023: 4 years).


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£



Amounts falling due 2-5 years

Bank loans
23,276
33,227


23,276
33,227


23,276
33,227



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
146,191
110,918

Between 1-5 years
289,254
359,720

435,445
470,638


11.


Reserves

Revaluation reserve

This reserve consists of movements in market value of motor vehicle investments.

Page 9

 
PEGASUS INVESTMENTS & ASSET MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.


Related party transactions

There was no movement in the year in the loan balance owed to Mercury3 Ltd (a company which is owned by the director Mark Silcock). At the balance sheet date other creditors included £11,640 (2023: £11,640) as amounts owed to Mercury3 Ltd.
During the year Kirby Security (UK) Ltd (a company which is owned by the director Mark Silcock) repaid the company £18,750. At the balance sheet date other debtors included £46,860 
(2023: £65,610) as amounts owed by Kirby Security (UK) Ltd.
There was no movement in the year in the loan balance owed by Bespoke Vehicle Leasing Ltd (a company owed by the director Mark Silcock). At the balance sheet date other debtors included £689 
(2023: £689) as amounts owed by Bespoke Vehicle Leasing Ltd.
During the year the company paid £42,710 
(2023: £34,800) to the director Mark Silcock for rent.
During the year the company paid £494 
(2023: £410) to Mercury3 Ltd for telecommunication services.


13.


Controlling party

The company is controlled by the director Mark Silcock.


Page 10