Pegasus Site Support Ltd - Period Ending 2017-03-31

Registration number: 08110050

Pegasus Site Support Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2017

Farrar Smith
Chartered Accountants
2 Woodside Mews
Clayton Wood Close
Leeds
West Yorkshire
LS16 6QE

Pegasus Site Support Ltd

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 4

Pegasus Site Support Ltd

(Registration number: 08110050)
Balance Sheet as at 31 March 2017

	Note	2017 £		2016 £
Fixed assets
Tangible assets	3		1,538		1,412
Current assets
Debtors	4	89,992		26,333
Cash at bank and in hand		15,574		1,006
		105,566		27,339
Creditors: Amounts falling due within one year	5	(64,738)		(28,069)
Net current assets/(liabilities)			40,828		(730)
Net assets			42,366		682
Capital and reserves
Called up share capital		100		100
Profit and loss account		42,266		582
Total equity			42,366		682

For the financial year ending 31 March 2017 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 15 November 2017 and signed on its behalf by:
 

.........................................

Mr Richard Lee Chessman

Director

The notes on pages 2 to 4 form an integral part of these financial statements.

Page 1

Pegasus Site Support Ltd

Notes to the Financial Statements for the Year Ended 31 March 2017

1	General information

The company is a incorporated in England and Wales.

The address of its registered office is:
2 Woodside Mews
Clayton Wood Close
Leeds
West Yorkshire
LS16 6QE
United Kingdom

These financial statements were authorised for issue by the Board on 15 November 2017.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any 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
Furniture and fittings	33% Straight line
Other property, plant and equipment	25% Straight line

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Page 2

Pegasus Site Support Ltd

Notes to the Financial Statements for the Year Ended 31 March 2017

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Tangible assets

	Furniture, fittings and equipment  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 April 2016	749	1,747	2,496
Additions	1,208	-	1,208
At 31 March 2017	1,957	1,747	3,704
Depreciation
At 1 April 2016	401	683	1,084
Charge for the year	645	437	1,082
At 31 March 2017	1,046	1,120	2,166
Carrying amount
At 31 March 2017	911	627	1,538
At 31 March 2016	348	1,064	1,412

4

Debtors

	Note	2017 £	2016 £
Trade debtors		46,631	23,634
Amounts owed by group undertakings and undertakings in which the company has a participating interest		33,973	-
Other debtors		9,388	2,699
Total current trade and other debtors		89,992	26,333

Page 3

Pegasus Site Support Ltd

Notes to the Financial Statements for the Year Ended 31 March 2017

5

Creditors

	Note	2017 £	2016 £
Due within one year
Trade creditors		28,280	14,437
Amounts owed to group undertakings and undertakings in which the company has a participating interest		-	3,972
Taxation and social security		35,458	8,660
Other creditors		1,000	1,000
		64,738	28,069

6	Transition to FRS 102

The policies applied under the Company's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

Page 4