Company No: 03698700 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR	Mrs N Bond
	Mr A Drake (Resigned 01 July 2024)

SECRETARY

Mr S Purr

REGISTERED OFFICE	9 Sauncey Avenue
	Harpenden
	Hertfordshire
	AL5 4QQ
	United Kingdom

COMPANY NUMBER

03698700 (England and Wales)

ACCOUNTANT	S&W Partners LLP
	Onslow House
	Onslow Street
	Guildford
	GU1 4TL

	Note	30.09.2024		31.03.2023
		£		£
Fixed assets
Tangible assets	3	3,342,657		2,751,589
		3,342,657		2,751,589
Current assets
Debtors	4	60,693		682,280
Cash at bank and in hand	5	167,136		20,413
		227,829		702,693
Creditors: amounts falling due within one year	6	( 11,119,212)		( 6,438,085)
Net current liabilities		(10,891,383)		(5,735,392)
Total assets less current liabilities		(7,548,726)		(2,983,803)
Net liabilities		( 7,548,726)		( 2,983,803)
Capital and reserves
Called-up share capital	7	100		100
Profit and loss account		( 7,548,826 )		( 2,983,903 )
Total shareholders' deficit		( 7,548,726)		( 2,983,803)

For the financial period ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of 51 Pegasus Limited (registered number: 03698700) were approved and authorised for issue by the Director on 29 September 2025. They were signed on its behalf by:

Mrs N Bond Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

51 Pegasus Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 9 Sauncey Avenue, Harpenden, Hertfordshire, AL5 4QQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of 51 Pegasus Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Going concern

The financial statements have been prepared on a going concern basis.

The director has made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Reporting period length

The financial statements have been prepared for an 18 month period from 1 April 2023 to 30 September 2024.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
Plant and machinery etc.	4 years straight line

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

	Period from 01.04.2023 to 30.09.2024		Year ended 31.03.2023
	Number		Number
Monthly average number of persons employed by the Company during the period, including the director	2		2

3. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 April 2023	2,749,155		16,111		2,765,266
Additions	592,252		0		592,252
At 30 September 2024	3,341,407		16,111		3,357,518
Accumulated depreciation
At 01 April 2023	0		13,677		13,677
Charge for the financial period	0		1,184		1,184
At 30 September 2024	0		14,861		14,861
Net book value
At 30 September 2024	3,341,407		1,250		3,342,657
At 31 March 2023	2,749,155		2,434		2,751,589

4. Debtors

	30.09.2024		31.03.2023
	£		£
Other debtors	60,693		682,280

5. Cash and cash equivalents

	30.09.2024		31.03.2023
	£		£
Cash at bank and in hand	167,136		20,413

6. Creditors: amounts falling due within one year

	30.09.2024		31.03.2023
	£		£
Bank loans	10,727,358		4,800,000
Trade creditors	55,476		78,774
Other creditors	336,378		1,559,311
	11,119,212		6,438,085

Bank loans are secured against the fixed and floating charge on the assets of the company. The loan is repayable by 6 August 2025 and carried at an annual interest rate of 12.9% per annum.

7. Called-up share capital

	30.09.2024		31.03.2023
	£		£
Allotted, called-up and fully-paid
100 Allotted, Called up and fully paid ordinary shares of £ 1.00 each	100		100

8. Related party transactions

Transactions with the entity's director

At the balance sheet date and included in other creditors is £328,378 (2023: £692,524) owed to the directors of the company. The balance is unsecured, interest free and repayable on demand.