Pegasus Chester Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 13237119 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Pegasus Chester Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J L Wharrie

REGISTERED OFFICE:

Military House

24 Castle Street

Chester

Cheshire

CH1 2DS

REGISTERED NUMBER:

13237119 (England and Wales)

ACCOUNTANTS:

Haines Watts

Military House

24 Castle Street

Chester

Cheshire

CH1 2DS

FIXED ASSETS

Tangible assets

4

54,655

-

CURRENT ASSETS

Stocks

56,847

13,596

Debtors

5

19,710

44

Cash at bank and in hand

20,030

18,693

96,587

32,333

CREDITORS

Amounts falling due within one year

6

157,544

27,545

NET CURRENT (LIABILITIES)/ASSETS

(60,957

)

4,788

TOTAL ASSETS LESS CURRENT LIABILITIES

(6,302

)

4,788

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

(6,303

)

4,787

SHAREHOLDERS' FUNDS

(6,302

)

4,788

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 December 2023 and were signed by:

J L Wharrie - Director

1.	STATUTORY INFORMATION

Pegasus Chester 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.

The financial statements are presented in sterling, which is the functional currency of the company, rounded to the nearest £1.

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 etc

-

20% on reducing balance

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

73,319

Disposals

(5,000

)

At 31 March 2023

68,319

DEPRECIATION

Charge for year

13,664

At 31 March 2023

13,664

NET BOOK VALUE

At 31 March 2023

54,655

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Other debtors

19,710

44

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Taxation and social security

-

1,123

Other creditors

157,544

26,422

157,544

27,545

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.23

31.3.22

value:

£

£

1

Ordinary

£1

1

1