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REGISTERED NUMBER: 10392720 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PEGASUSFORRIDEHIGH LIMITED

PEGASUSFORRIDEHIGH LIMITED (REGISTERED NUMBER: 10392720)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PEGASUSFORRIDEHIGH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: J C Prime
B W Ransley
P J Stuart
O F Sugdon
M A Walsh
N Ali





SECRETARY: M J Cartledge





REGISTERED OFFICE: Ride High Equestrian Centre
Redland Drive
Loughton
Milton Keynes
Buckinghamshire
MK5 8EJ





REGISTERED NUMBER: 10392720 (England and Wales)






PEGASUSFORRIDEHIGH LIMITED (REGISTERED NUMBER: 10392720)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 98,843 93,470

CURRENT ASSETS
Debtors 5 44,321 81,181
Cash at bank and in hand 48,004 80,891
92,325 162,072
CREDITORS
Amounts falling due within one year 6 143,616 159,897
NET CURRENT (LIABILITIES)/ASSETS (51,291 ) 2,175
TOTAL ASSETS LESS CURRENT
LIABILITIES

47,552

95,645

CREDITORS
Amounts falling due after more than one
year

7

136,033

242,078
NET LIABILITIES (88,481 ) (146,433 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (88,581 ) (146,533 )
(88,481 ) (146,433 )

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

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

PEGASUSFORRIDEHIGH LIMITED (REGISTERED NUMBER: 10392720)

BALANCE SHEET - continued
31 DECEMBER 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 24 February 2025 and were signed on its behalf by:





B W Ransley - Director


PEGASUSFORRIDEHIGH LIMITED (REGISTERED NUMBER: 10392720)

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


1. STATUTORY INFORMATION

PegasusForRideHigh Limited is a private company, limited by shares , registered in England and Wales. 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.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - 25% on cost

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 19 ) .

PEGASUSFORRIDEHIGH LIMITED (REGISTERED NUMBER: 10392720)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£ £ £ £
COST
At 1 January 2024 54,264 84,427 2,207 140,898
Additions - 32,250 19,623 51,873
Disposals - (38,328 ) - (38,328 )
At 31 December 2024 54,264 78,349 21,830 154,443
DEPRECIATION
At 1 January 2024 20,069 27,299 60 47,428
Charge for year 6,608 16,357 2,403 25,368
Eliminated on disposal - (17,196 ) - (17,196 )
At 31 December 2024 26,677 26,460 2,463 55,600
NET BOOK VALUE
At 31 December 2024 27,587 51,889 19,367 98,843
At 31 December 2023 34,195 57,128 2,147 93,470

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 22,012 26,847
Other debtors 22,309 54,334
44,321 81,181

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 5,794 5,510
Trade creditors 4,110 2,987
Amounts owed to group undertakings 116,909 89,770
Taxation and social security 4,724 9,881
Other creditors 12,079 51,749
143,616 159,897

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 27,941 33,986
Amounts owed to group undertakings 108,092 208,092
136,033 242,078

PEGASUSFORRIDEHIGH LIMITED (REGISTERED NUMBER: 10392720)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


8. GROUP LOAN

The amount owed to group undertakings includes a loan facility provided on commercial terms by Ride High Limited, the parent company. It is comprised of an Original Facility of £300,000 dated 25 July 2017 and a New Facility not to exceed £90,000 dated 24 September 2018.
Interest accrues daily on amounts drawn down from time to time at a rate of 5% per annum on the Original Facility.

Interest on the New Facility accrued at 7% per annum, until 1 January 2022 when the interest rate was revised to 5% on both the Original Facility and New Facility. Interest is payable on 30 June each year.

A capital repayment of £37,500 was made in July 2024, with a further £37,500 in December 2024, as per the repayment schedule. Future capital repayments are due to be made as follows:
£100,000 by 31 December 2025
Balance of loan by 31 December 2026

There is a secured fixed and floating charge over the assets of the company relating to the restructured facility.