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Registration number: 08600126

Pegasus Ventures (UK) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Pegasus Ventures (UK) Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Pegasus Ventures (UK) Limited

(Registration number: 08600126)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

14,079

15,643

Tangible assets

5

15,075

20,172

 

29,154

35,815

Current assets

 

Stocks

6

17,045

15,728

Debtors

7

78,346

38,312

Cash at bank and in hand

 

12,375

14,910

 

107,766

68,950

Creditors: Amounts falling due within one year

8

(226,512)

(205,905)

Net current liabilities

 

(118,746)

(136,955)

Total assets less current liabilities

 

(89,592)

(101,140)

Creditors: Amounts falling due after more than one year

8

(31,250)

(37,500)

Net liabilities

 

(120,842)

(138,640)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(120,942)

(138,740)

Shareholders' deficit

 

(120,842)

(138,640)

 

Pegasus Ventures (UK) Limited

(Registration number: 08600126)
Balance Sheet as at 31 July 2024

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 27 April 2025 and signed on its behalf by:
 

.........................................
Mr M Farragher
Company secretary and director

 

Pegasus Ventures (UK) Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Victoria
2 Watergate Row North
Chester
Cheshire
CH1 2LD
United Kingdom

These financial statements were authorised for issue by the Board on 27 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Pegasus Ventures (UK) Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost less subsequent accumulated depreciation and subsequent accumulated impairment losses.The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

15% Straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Leasehold

Over 15 years

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 16 (2023 - 17).

 

Pegasus Ventures (UK) Limited

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

4

Intangible assets

Leasehold
£

Total
£

Cost or valuation

At 1 August 2023

23,465

23,465

At 31 July 2024

23,465

23,465

Amortisation

At 1 August 2023

7,822

7,822

Amortisation charge

1,564

1,564

At 31 July 2024

9,386

9,386

Carrying amount

At 31 July 2024

14,079

14,079

At 31 July 2023

15,643

15,643

5

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 August 2023

39,648

39,648

Additions

1,000

1,000

At 31 July 2024

40,648

40,648

Depreciation

At 1 August 2023

19,476

19,476

Charge for the year

6,097

6,097

At 31 July 2024

25,573

25,573

Carrying amount

At 31 July 2024

15,075

15,075

At 31 July 2023

20,172

20,172

 

Pegasus Ventures (UK) Limited

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

6

Stocks

2024
£

2023
£

Finished goods and goods for resale

17,045

15,728

 

Pegasus Ventures (UK) Limited

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

7

Debtors

Note

2024
£

2023
£

Amounts owed by related parties

75,743

35,709

Prepayments

 

2,603

2,603

 

78,346

38,312

A company related by common control loaned amounts totalling £46,694 (2023: £13,980), repaid amounts totalling £6,660 (2023: £5,900). The amount due for the year ended 31 July 2024 totals £75,743 (2023: £35,709)

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

6,250

6,250

Trade creditors

 

27,076

8,043

Amounts owed to group undertakings and undertakings in which the company has a participating interest

87,670

115,289

Taxation and social security

 

63,909

65,986

Accruals and deferred income

 

4,110

4,244

Other creditors

 

37,497

6,093

 

226,512

205,905

A company related by common control loaned amounts totalling £86,871 (2023: £89,197), repaid amounts totalling £114,490 (2023: £61,000). The amount owed for the year ended totals £87,670 (2023: £115,289)

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

31,250

37,500