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REGISTERED NUMBER: 08547501 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Pegasus Motors Limited

Pegasus Motors Limited (Registered number: 08547501)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pegasus Motors Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: A KREMERS





SECRETARY:





REGISTERED OFFICE: 1308 Mollison Avenue
Enfield
EN3 7NJ





REGISTERED NUMBER: 08547501 (England and Wales)





ACCOUNTANTS: Clearword Limited
1 Wrexham Road
Laindon
Basildon
Essex
SS15 6PX

Pegasus Motors Limited (Registered number: 08547501)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 684 912

CURRENT ASSETS
Stocks 5 105,068 163,372
Debtors 6 58,250 113,342
Cash at bank 6,148 127
169,466 276,841
CREDITORS
Amounts falling due within one year 7 44,367 73,514
NET CURRENT ASSETS 125,099 203,327
TOTAL ASSETS LESS CURRENT
LIABILITIES

125,783

204,239

CREDITORS
Amounts falling due after more than one
year

8

165,308

178,008
NET (LIABILITIES)/ASSETS (39,525 ) 26,231

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 11 (40,525 ) 25,231
SHAREHOLDERS' FUNDS (39,525 ) 26,231

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Motors Limited (Registered number: 08547501)

Balance Sheet - continued
31 May 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 director and authorised for issue on 25 May 2025 and were signed by:





A KREMERS - Director


Pegasus Motors Limited (Registered number: 08547501)

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

1. STATUTORY INFORMATION

Pegasus Motors 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.
Fixtures and fittings - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

Pegasus Motors Limited (Registered number: 08547501)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 June 2023
and 31 May 2024 4,999
DEPRECIATION
At 1 June 2023 4,087
Charge for year 228
At 31 May 2024 4,315
NET BOOK VALUE
At 31 May 2024 684
At 31 May 2023 912

5. STOCKS
31.5.24 31.5.23
£    £   
Stocks 105,068 163,372

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 58,250 68,915
Other debtors - 8,427
Prepayments - 36,000
58,250 113,342

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts (see note 9) - 173
Trade creditors 1 28,216
Tax 784 8,980
Social security and other taxes 40,673 34,130
VAT 1,582 2,015
Directors' current accounts 1,327 -
44,367 73,514

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans (see note 9) 165,308 178,008

Pegasus Motors Limited (Registered number: 08547501)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.5.24 31.5.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
CBILS Loan 165,308 178,008

9. LOANS

An analysis of the maturity of loans is given below:

31.5.24 31.5.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 173

Amounts falling due in more than five years:

Repayable by instalments
CBILS Loan 165,308 178,008

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
1,000 Ordinary Shares £1 1,000 1,000

11. RESERVES
Retained
earnings
£   

At 1 June 2023 25,231
Deficit for the year (65,756 )
At 31 May 2024 (40,525 )

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A KREMERS.