REGISTERED NUMBER: 05666232 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PEGASUS HEATING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C Edwards

SECRETARY:

Mrs R D Edwards

REGISTERED OFFICE:

136 Peacehaven

Tredegar

NP22 4BY

REGISTERED NUMBER:

05666232 (England and Wales)

ACCOUNTANTS:

Hayvenhursts

Fairway House

Links Business Park

St Mellons

Cardiff

CF3 0LT

FIXED ASSETS

Tangible assets

4

543

803

CURRENT ASSETS

Stocks

250

250

Debtors

5

3,346

4,603

Cash at bank

7,494

8,298

11,090

13,151

CREDITORS

Amounts falling due within one year

6

11,501

12,615

NET CURRENT (LIABILITIES)/ASSETS

(411

)

536

TOTAL ASSETS LESS CURRENT LIABILITIES

132

1,339

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

130

1,337

SHAREHOLDERS' FUNDS

132

1,339

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 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.

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 10 September 2025 and were signed by:

C Edwards - Director

1.	STATUTORY INFORMATION

Pegasus Heating 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.

Plant and machinery

-

20% on cost

Motor vehicles

-

25% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2024

17,600

54,126

683

72,409

Additions

-

-

110

110

At 31 December 2024

17,600

54,126

793

72,519

DEPRECIATION

At 1 January 2024

17,429

54,126

51

71,606

Charge for year

143

-

227

370

At 31 December 2024

17,572

54,126

278

71,976

NET BOOK VALUE

At 31 December 2024

28

-

515

543

At 31 December 2023

171

-

632

803

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

2,912

4,292

Prepayments

434

311

3,346

4,603

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

1,811

40

Tax

1,771

1,091

Directors' current accounts

6,659

10,270

Accrued expenses

1,260

1,214

11,501

12,615

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at 31st December 2024, Mr C. Edwards was owed £6,659 (2023 - £10,270).

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr C. Edwards by virtue of his 100% shareholding.