Registration number:
for the
Period from 1 July 2024 to 31 March 2025
Pegasus Planning Group Limited
Contents
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Company Information |
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Directors' Report |
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Strategic Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Statement of Cash Flows |
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Notes to the Financial Statements |
Pegasus Planning Group Limited
Company Information
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Directors |
M Carr S Kerby J Peachey S Manson J Rainey K Williams D Mccormick L Holloway |
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Registered office |
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Bankers |
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Auditors |
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Pegasus Planning Group Limited
Directors' Report
for the Period from 1 July 2024 to 31 March 2025
The Directors present their report and the financial statements for the short period from 1 July 2024 to 31 March 2025. The comparative figures reflect the year to 30 June 2024.
Principal activity
The principal activity of the Company is the provision of multidisciplinary consultancy services in the built environment.
Directors of the Company
The Directors who held office during the period were as follows:
Dividends
The directors recommend an interim dividend of £2,685,824 (2024 - £4,395,242) in respect of the financial period ended 31 March 2025.
Employment policy
The Group is committed to fostering an inclusive work environment by actively considering individuals with disabilities or health conditions for any vacancies suited to their skills and capabilities. Comprehensive support is provided during initial training, while tailored career plans are developed to offer appropriate growth opportunities. For employees who become disabled, efforts are made to retrain them for roles that align with their abilities and aptitudes. Reasonable accommodations are implemented to ensure these individuals can perform their duties without significant disadvantages.
The Group's policies on selection, training, development and promotion assure equal opportunities for all employees regardless of gender, marital status, race, age, sexual orientation, ethnicity, religion or belief, disability or trade union membership. Decisions are solely based on merit and fairness.
Pegasus Planning Group Limited
Directors' Report
for the Period from 1 July 2024 to 31 March 2025
Employee involvement
The Group strives to foster a workplace where employees feel motivated, enjoy their roles, and contribute effectively to successful outcomes.
Investments are continuously made in leadership, technical and safety training to empower staff members whose growth would benefit them and the organisation alike.
Feedback from employees is encouraged and actively welcomed across all levels of operation.
Employees have the opportunity to share in the Group’s success through an annual bonus scheme tied both to the organisation’s financial performance and individual contributions throughout the year.
Engagement with suppliers, customers and other relationships
Achieving the Group’s quality policy depends on fostering robust, mutually beneficial relationships with suppliers, customers, and partners. The Directors value lasting partnerships built on shared dedication to quality, value, and service. The adoption of ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 provides a strong framework for delivering consistent service standards to all stakeholders.
Group Directors actively participate in professional bodies governed by clear codes of conduct. These memberships not only guide operational practices but also provide opportunities for exchanging experiences and applying lessons learned. Regulatory compliance is crucial, alongside efforts to safeguard the Group's reputation. The Group prioritises offering honest, trustworthy, and independent advice that fosters integrity and loyalty among stakeholders.
Environmental report
Pegasus Planning Group Limited complies with ISO 14001:2015 for activities encompassing a broad range of services such as Town and Country Planning; Economics; Heritage and Archaeology Planning; Environmental Impact Assessment Management; Renewables; Sustainability; Landscape Architecture; Urban Design; Transport and Infrastructure Planning; and Architectural Design among others.
Pegasus demonstrates a steadfast commitment to environmental protection by minimising pollution and reducing the ecological impact of its operations. Processes are instituted for reducing greenhouse gas emissions, conserving natural resources, and reducing office-based waste. An Environmental Management System (EMS) accredited to ISO 14001:2015 standards, has been established to meet goals including legal compliance, pollution prevention and continuous environmental performance improvement. All staff members are made aware of how their responsibilities contribute to achieving these objectives.
Recognising sustainability as vital within the planning system, Pegasus integrates economic, environmental, and social imperatives into its consultancy practice without compromising future generations’ needs. The organisation actively promotes sustainable development at the project level by collaborating with developers to adopt environmentally responsible practices. The company’s Environment Policy undergoes annual reviews to ensure alignment with best practices and responsiveness to findings from EMS audits.
Pegasus Planning Group Limited
Directors' Report
for the Period from 1 July 2024 to 31 March 2025
Emissions and energy consumption
Pegasus has compiled data covering gas usage, refrigerants, electricity, business travel, paper consumption, and water usage across its portfolio of offices. The total reported Greenhouse Gas Emissions, measured in tonnes of carbon dioxide equivalent emissions (tCO2e), were outlined as follows:
|
2021-2022 |
2022-2023 |
2023-2024 |
2024-2025 |
||||
|
Total |
284.05 tC02e |
281.86 tC02e |
262.69 tC02e |
267.00 tC02e |
|||
|
Scope 1 |
3.3% |
3.3% |
2.7% |
4.5% |
|||
|
Scope 2 |
20.6% |
22.6% |
24.5% |
29.1% |
|||
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Scope 3 |
76.1% |
74.1% |
72.8% |
66.4% |
|||
The significant area can be seen in scope 3 and relates primarily to Business Travel, Paper and Computers.
As can be seen through the breakdown of the last 4 years we have been able to reduce or maintain our overall greenhouse gas emissions in both scopes 1 and 2.
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2021-2022 |
2022-2023 |
2023-2024 |
2024-2025 |
|||||
|
Length of Fin Year |
12 months |
12 months |
12 months |
9 months |
||||
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Scope 1 |
Total tC02e |
9.19 |
9.30 |
7.12 |
12.06 |
|||
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Gas |
2.98 |
2.55 |
0.86 |
2.59 |
||||
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Refrigerant |
6.21 |
6.75 |
6.26 |
9.47 |
||||
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Scope 2 |
Total tC02e |
57.22 |
63.73 |
64.24 |
77.54 |
|||
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Electricity |
57.22 |
63.73 |
64.24 |
77.54 |
||||
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Scope 3 |
Total tC02e |
217.64 |
208.84 |
191.33 |
177.40 |
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Business travel: Air |
4 |
5 |
9.67 |
9.08 |
||||
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Business travel: Road |
132.52 |
150.74 |
135.88 |
119.92 |
||||
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Computers |
43 |
13 |
9.70 |
6.32 |
||||
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Electricity (T&D and WTT) |
20.17 |
20.86 |
21.15 |
29.96 |
||||
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Gas (WTT) |
0.51 |
0.42 |
0.14 |
0.43 |
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Home Working |
8 |
9 |
8.61 |
6.97 |
||||
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Paper |
2.33 |
2.38 |
2.30 |
1.12 |
||||
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Water |
7.55 |
8.33 |
3.88 |
3.59 |
Scope 3 historical calculations have been adjusted due to emissions factor updates and other minor data revisions (previous revisions 2021-2022 211.61 tC02e; 2022-2023 202.00 tC02e; 2023-2024 184.16 tC02e).
Pegasus Planning Group Limited
Directors' Report
for the Period from 1 July 2024 to 31 March 2025
There has been a noticeable improvement in data collection compared to previous years, particularly for electricity consumption which has now been calculated more thoroughly. The primary contributors to emissions were identified as business travel by road (44.9%) and electricity usage within office premises (40.3%), both of which are expected to rise alongside workforce expansion. To address this, Pegasus is actively reviewing work practices with the goal of reducing its carbon footprint, particularly through changes in travel policies, while moving toward more sustainable practices.
In 2024 Pegasus established an actionable sustainability strategy, embedding best practices into business operations to define clear objectives, targets, and key performance indicators (KPIs) aimed at reducing emissions. Focus areas include purchased goods, company facilities and leased assets. This strategy is being updated to reflect recent results and additional improvements, including measurable milestones within the company’s business plan timeline. The ultimate goal remains achieving net-zero carbon emissions by 2030.
Ongoing monitoring of Greenhouse Gas emissions will continue in alignment with the Sustainability Strategy to focus on critical areas. Recent office relocations not only prioritised better sustainability measures for Pegasus but also emphasised partnerships with landlords who are implementing green energy alternatives and emissions reduction initiatives.
Pegasus demonstrates its commitment to addressing emissions and energy consumption through quarterly reporting integrated into its Sustainability Strategy framework.
Working Capital
Under the Shareholders’ Deed, shareholders are responsible for ensuring sufficient working capital for the business’s needs over the upcoming financial year before allocating profits for distribution. For transparency, details regarding profit distribution proposed by Directors following the approval of the Financial Statements are summarised below:
|
Profit |
Distribution |
Reserves |
||
|
YE 2023 |
£5,860,313 |
£4,395,243 |
£1,465,070 |
75% |
|
YE 2024 |
£3,159,732 |
£2,685,824 |
£473,908 |
85% |
The distribution for Year Ended 31 March 2025 is yet to be determined.
Going concern
After thoroughly reviewing the Group's financial forecasts and projections, the Directors have determined that the organisation Is equipped with adequate resources to maintain operational continuity over the foreseeable future. As a result, the Group has adopted the going concern basis when preparing its financial statements.
Disclosure of information to the auditors
Each Director has undertaken necessary steps to remain informed about audit-relevant matters and ensure that the Company's auditors are aware of all pertinent information. The Directors confirm that there is no undisclosed relevant information known to them that could impact the auditing progress.
Reappointment of auditors
Hazlewoods LLP have expressed their willingness to continue in office.
Approved by the
Director
Pegasus Planning Group Limited
Strategic Report
for the Period from 1 July 2024 to 31 March 2025
The Directors present their strategic report for the period from 1 July 2024 to 31 March 2025.
Business review
During this financial year, the company benefited from healthy demand across various development sectors, with the private residential market continuing to represent a significant portion of this workload.
In the previous financial year (2023/24), the Bank of England’s strategy to rise interest rates in response to inflation impacted the housing sector particularly. Over the current financial year (2024/25) as inflation has continued to fall and interest rates have stabilised, market confidence is beginning to return, spurring an uplift in opportunities within this sector. There continues to be growth within the energy sector, aided with a rising volume of proposals for solar and battery storage developments across England and Wales, along with continued progress in onshore wind energy projects in Scotland.
The Group has strategically reinforced and expanded its teams within this sector to enhance its service offerings, which has positively influenced its ability to secure additional projects. As a result, turnover levels remain steady and comparable with prior years.
The Company's key financial and other performance indicators during the period were as follows:
|
Financial KPIs |
Unit |
2025 |
2024 |
|
Turnover |
£'000 |
35,968 |
42,148 |
|
Gross Profit Margin |
% |
39 |
36 |
|
Operating Profit |
£'000 |
4,285 |
4,289 |
|
Shareholders Funds |
£'000 |
6,617 |
5,784 |
|
Current Assets as a % of Current Liabilities |
% |
154 |
138 |
|
Average number of employees |
No. |
444 |
420 |
Future developments
Recent adjustments to national planning policies have introduced new challenges for certain clients, leading to delays in advancing some projects during this trading year. The Labour Government election drove commitments to emphasise the importance of the development industry, and this has for Pegasus, highlighted emerging opportunities, aligned with ongoing efforts to diversify services. A notable growth area continues to stem from the UK’s focus on strengthening its energy resilience, underscoring substantial development needs in renewable energy.
Although some economic and sectoral challenges persist, the demand for the Group’s services remain strong and is set to increase, thereby presenting significant opportunities for growth. The primary risk lies in maintaining sufficient staffing levels with the requisite expertise to meet client demands. Nonetheless, the Group remains committed to addressing this through careful planning and sustained investment in attracting and retaining skilled personnel.
Environmental matters
The Group operates under ISO14001 certification, an internationally recognised environmental management system. Additionally, an ESG-wide business strategy has been completed with external expert assistance. This initiative aims to implement clearly defined actions with measurable objectives focusing on energy efficiency and reducing our carbon footprint, as detailed further in the Director’s Report.
Social and community issues
The Group values the contributions of its diverse and talented employees, who actively participate in a variety of charitable initiatives. Their dedication to fundraising efforts supporting organisations close to their hearts is a point of pride for the company. Over the past year, the Group has made several charitable contributions, whilst also selecting an annual charity nominated by staff for focused support.
Pegasus Planning Group Limited
Strategic Report
for the Period from 1 July 2024 to 31 March 2025
Principal risks and uncertainties
Managing the business and implementing the Group's strategy involved navigating various risks. These key risks and uncertainties include recruiting and retaining suitable staff, shifts in external economic, policy and legal environments, and increased competition. To address these, we offer competitive salary, bonus, and benefits packages to attract top talent and minimise staff turnover. We also closely monitor external factors impacting our operations and work to mitigate risks by developing new expertise and expanding into sectors, sometimes governed by different consent regimes, where our services can effectively support clients.
Section 172(1) statement
The Directors are confident that they have fulfilled their responsibilities under section 172 of the Companies Act 2006. The long-term strategy outlined in the Strategic Report aligns with the goals of delivering sustainable success for the business and its stakeholders. Committed to upholding a strong reputation, the Group aims for high standards while carefully selecting suppliers to ensure optimal value. Consideration is given to their environmental impact, with efforts made to reduce carbon footprints wherever possible.
The Directors acknowledge the vital role of broader stakeholders, including employees, suppliers and customers, in driving strategy and ensuring business sustainability. They strive to maintain fairness across all members of the Group in decision-making processes.
Engagement with suppliers, customers and other relationships
Achieving the Group’s quality policy depends on fostering robust, mutually beneficial relationships with suppliers, customers, and partners. The Directors value lasting partnerships built on shared dedication to quality, value, and service. The adoption of ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 provides a strong framework for delivering consistent service standards to all stakeholders.
Group Directors actively participate in professional bodies governed by clear codes of conduct. These memberships not only guide operational practices but also provide opportunities for exchanging experiences and applying lessons learned. Regulatory compliance is crucial, alongside efforts to safeguard the Group's reputation. The Group prioritises offering honest, trustworthy, and independent advice that fosters integrity and loyalty among stakeholders.
Financial instruments
The Group utilises financial instruments such as cash, liquid resources, trade debtors, and trade creditors directly tied to operational activities. Their primary role is to support the Group’s financial needs. While exposed to typical credit and cash flow risks associated with offering services on credit, these are mitigated through effective credit control procedures. Other financial instruments used by the Group are not subject to significant price or liquidity risks.
The Board consistently monitors trading results to ensure the Group can meet obligations as they arise. This provides reasonable assurance that the Group has sufficient resources to maintain operational stability in the foreseeable future, supporting the continued application of the going concern basis of accounting when preparing annual financial statements.
Approved by the
Director
Pegasus Planning Group Limited
Statement of Directors' Responsibilities
The Directors are responsible for preparing the Directors' Report, Strategic Report and the financial statements in accordance with applicable law and regulations.
Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the Directors are required to:
• | select suitable accounting policies and apply them consistently; |
• | make judgements and accounting estimates that are reasonable and prudent; |
• | state whether applicable UK Accounting Standards has been followed, subject to any material departures disclosed and explained in the financial statements; and |
• | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. |
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Pegasus Planning Group Limited
Independent Auditor's Report to the Members of Pegasus Planning Group Limited
Opinion
We have audited the financial statements of Pegasus Planning Group Limited (the 'Company') for the period from 1 July 2024 to 31 March 2025, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the Company's affairs as at 31 March 2025 and of its profit for the period then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.
Other information
The Directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
|
• |
the information given in the Strategic Report and Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and |
|
• |
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
Pegasus Planning Group Limited
Independent Auditor's Report to the Members of Pegasus Planning Group Limited
|
• |
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
|
• |
the financial statements are not in agreement with the accounting records and returns; or |
|
• |
certain disclosures of Directors' remuneration specified by law are not made; or |
|
• |
we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page 8, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Extent to which the audit was capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We considered the nature of the company’s industry and its control environment and reviewed the company’s documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks of irregularities.
We obtained an understanding of the legal and regulatory framework that the company operates in and identified the key laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements, including the UK Companies Act and tax legislation, and, those that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty.
We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.
In common with all audits conducted in accordance with ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override of controls. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.
In addition to the above, our procedures to respond to the risks identified included the following:
|
• |
reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; |
|
• |
performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatements due to fraud; |
|
• |
enquiring of management concerning actual and potential litigation and claims and instances of non-compliance with laws and regulations; and |
|
• |
reading minutes of meetings of those charged with governance. |
Pegasus Planning Group Limited
Independent Auditor's Report to the Members of Pegasus Planning Group Limited
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.
A further description of our responsibilities is available on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of this report
This report is made solely to the Company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
For and on behalf of
Staverton Court
GL51 0UX
Pegasus Planning Group Limited
Profit and Loss Account
for the Period from 1 July 2024 to 31 March 2025
|
Note |
1 July 2024 |
Year ended |
|
|
Turnover |
|
|
|
|
Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Administrative expenses |
( |
( |
|
|
Operating profit |
4,284,610 |
4,289,291 |
|
|
Other interest receivable and similar income |
|
|
|
|
Interest payable and similar expenses |
( |
( |
|
|
(32,613) |
(9,356) |
||
|
Profit before tax |
|
|
|
|
Taxation |
( |
( |
|
|
Profit for the financial period |
|
|
The above results were derived from continuing operations.
The Company had no other comprehensive income in the current period or preceding year.
Pegasus Planning Group Limited
(Registration number: 07277000)
Balance Sheet as at 31 March 2025
|
Note |
31 March |
30 June |
|
|
Fixed assets |
|||
|
Intangible assets |
|
|
|
|
Tangible fixed assets |
|
|
|
|
Investments |
|
|
|
|
|
|
||
|
Current assets |
|||
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
14,300 |
14,300 |
|
|
Share premium reserve |
768,030 |
768,030 |
|
|
Treasury shares |
(387,636) |
(550,730) |
|
|
Other reserves |
1,291,068 |
1,090,084 |
|
|
Retained earnings |
4,931,145 |
4,552,542 |
|
|
Total equity |
6,616,907 |
5,874,226 |
Approved and authorised by the
Director
Pegasus Planning Group Limited
Statement of Changes in Equity
for the Period from 1 July 2024 to 31 March 2025
|
Share capital |
Share premium |
Treasury shares (held by EBT) |
Other reserves |
Retained earnings |
Total |
|
|
At 1 July 2024 |
|
|
( |
|
|
|
|
Profit for the period |
- |
- |
- |
- |
|
|
|
Dividends |
- |
- |
- |
- |
( |
( |
|
Transfers |
- |
- |
163,094 |
200,984 |
- |
364,078 |
|
At 31 March 2025 |
|
|
( |
|
|
|
|
Share capital |
Share premium |
Treasury shares (held by EBT) |
Other reserves |
Retained earnings |
Total |
|
|
At 1 July 2023 |
|
|
( |
|
|
|
|
Profit for the year |
- |
- |
- |
- |
|
|
|
Dividends |
- |
- |
- |
- |
( |
( |
|
New share capital subscribed |
|
- |
- |
- |
- |
|
|
Transfers |
- |
- |
(79,303) |
278,895 |
- |
199,592 |
|
At 30 June 2024 |
14,300 |
768,030 |
(550,730) |
1,090,084 |
4,552,542 |
5,874,226 |
Pegasus Planning Group Limited
Statement of Cash Flows
for the Period from 1 July 2024 to 31 March 2025
|
Note |
1 July 2024 |
Year to |
|
|
Cash flows from operating activities |
|||
|
Profit for the period |
|
|
|
|
Adjustments to cash flows from non-cash items |
|||
|
Depreciation and amortisation |
|
|
|
|
Loss from disposals of investments |
- |
|
|
|
Finance income |
( |
( |
|
|
Finance costs |
|
|
|
|
Increase in provisions |
295,618 |
- |
|
|
Income tax expense |
|
|
|
|
|
|
||
|
Working capital adjustments |
|||
|
Increase in debtors |
( |
( |
|
|
(Decrease)/increase in creditors |
( |
|
|
|
Cash generated from operations |
|
|
|
|
Income taxes paid |
( |
( |
|
|
Net cash flow from operating activities |
|
|
|
|
Cash flows from investing activities |
|||
|
Interest received |
|
|
|
|
Acquisitions of tangible fixed assets |
( |
( |
|
|
Net cash flows from investing activities |
( |
( |
|
|
Cash flows from financing activities |
|||
|
Interest paid |
( |
( |
|
|
Drawdown/(Repayment) of bank borrowing |
|
( |
|
|
Acquisition of shares within treasury reserve |
|
|
|
|
Payments to finance lease creditors |
( |
( |
|
|
Proceeds from issue of ordinary shares, net of issue costs |
- |
|
|
|
Dividends paid |
( |
( |
|
|
Net cash flows from financing activities |
( |
( |
|
|
Net (decrease)/increase in cash and cash equivalents |
( |
|
|
|
Cash and cash equivalents at 1 July |
|
|
|
|
Cash and cash equivalents at 31 March |
427,773 |
464,507 |
|
Pegasus Planning Group Limited
Statement of Cash Flows
for the Period from 1 July 2024 to 31 March 2025
|
Analysis of changes in net debt |
|
At 1 July 2024 |
Financing cash flows |
At 31 March 2025 |
|
|
Cash and cash equivalents |
|||
|
Cash |
464,507 |
(36,734) |
427,773 |
|
Borrowings |
|||
|
Long term borrowings |
(405,143) |
156,077 |
(249,066) |
|
Short term borrowings |
(207,304) |
(5,565) |
(212,869) |
|
(612,447) |
150,512 |
(461,935) |
|
|
( |
|
( |
|
|
|
|||
Pegasus Planning Group Limited
Notes to the Financial Statements
for the Period from 1 July 2024 to 31 March 2025
|
General information |
The Company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
|
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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Group accounts not prepared
Going concern
After reviewing the Company's forecasts and projections, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Judgements
The Directors are required to make judgements regarding: the recoverability of trade debtor balances; amounts recoverable on long-term contracts; the value included as a provision for dilapidations; the fair value of work in progress; and the estimated useful life of tangible and intangible fixed assets. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Key sources of estimation uncertainty
Significant estimates in the financial statements include those estimates made by the directors in respect of dilapidations provisions, as outlined in the accounting policies, and the estimation of stage of completion for projects.
Pegasus Planning Group Limited
Notes to the Financial Statements
for the Period from 1 July 2024 to 31 March 2025
|
2 |
Accounting policies (continued) |
Revenue recognition
Turnover represents amounts chargeable to clients for the provision of professional services that have been provided during the period.Turnover is recognised as contract activity progresses and the right to consideration is secured, except where the final outcome cannot be assessed with reasonable certainty.
Fee income in respect of contingent fee assignments is recognised in the period when the contingent event occurs and the collectability of the fee is assured.
Unbilled fee income on individual assignments is included as 'Amounts recoverable on contracts' within debtors.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible fixed assets
Tangible fixed 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 fixed 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, as follows:
|
Asset class |
Depreciation method and rate |
|
Fixtures and fittings |
25% straight line |
|
Leasehold improvements |
25% straight line |
Goodwill
Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
|
Asset class |
Amortisation method and rate |
|
Goodwill |
10% straight line |
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Pegasus Planning Group Limited
Notes to the Financial Statements
for the Period from 1 July 2024 to 31 March 2025
|
2 |
Accounting policies (continued) |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business, and are recognised initially at the transaction price. They are subsequently measured at amortised cost, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due.
Amounts recoverable on contracts
Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost.
Dilapidations provision
A provision is made in respect of costs that may be incurred at cessation of the property leases in order to return the properties to the same state as when the leases were entered into. This estimate is based on management's review of dilapidation costs incurred on similar properties.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
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.
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.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Pegasus Planning Group Limited
Notes to the Financial Statements
for the Period from 1 July 2024 to 31 March 2025
|
2 |
Accounting policies (continued) |
Financial instruments
Classification
Recognition and measurement
Impairment
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows.
|
Revenue |
The analysis of the Company's Turnover for the period from continuing operations is as follows:
|
1 July 2024 |
Year ended |
|
|
Rendering of services |
|
|
All of the Company's turnover in the current period and prior year was derived from the United Kingdom.
Pegasus Planning Group Limited
Notes to the Financial Statements
for the Period from 1 July 2024 to 31 March 2025
|
Operating profit |
Arrived at after charging/(crediting)
|
1 July 2024 |
Year ended |
|
|
Depreciation expense |
|
|
|
Amortisation expense |
|
|
|
Foreign exchange losses |
|
|
|
Operating lease expense - property |
|
|
|
Operating lease expense - other |
|
|
|
Staff costs |
The aggregate payroll costs (including Directors' remuneration) were as follows:
|
1 July 2024 |
Year ended |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs |
|
|
|
|
|
The average number of persons employed by the Company (including Directors) during the period, analysed by category was as follows:
|
1 July 2024 to 31 March 2025 |
Year ended 30 June 2024 |
|
|
Cost of sales |
|
|
|
Administration and support |
|
|
|
Directors |
|
|
|
|
|
|
Pegasus Planning Group Limited
Notes to the Financial Statements
for the Period from 1 July 2024 to 31 March 2025
|
Directors' remuneration |
The Directors' remuneration for the period was as follows:
|
1 July 2024 |
Year ended |
|
|
Remuneration (including benefits in kind) |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
2,813,457 |
3,393,635 |
During the period the number of Directors who were receiving benefits was as follows:
|
1 July 2024 to 31 March 2025 |
Year ended 30 June 2024 |
|
|
Accruing benefits under money purchase pension scheme |
|
|
In respect of the highest paid Director:
|
1 July 2024 |
Year ended |
|
|
Remuneration |
|
|
|
Company contributions to money purchase pension schemes |
|
|
|
Auditors' remuneration |
|
1 July 2024 |
Year ended |
|
|
Audit of the financial statements |
|
|
|
Other fees to auditors |
||
|
All other non-audit services |
|
|
Pegasus Planning Group Limited
Notes to the Financial Statements
for the Period from 1 July 2024 to 31 March 2025
|
Tax |
Tax charged/(credited) in the profit and loss account
|
31 March |
30 June |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
UK corporation tax adjustment to prior periods |
( |
- |
|
1,113,593 |
1,198,425 |
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
|
( |
|
Tax expense in the income statement |
|
|
The tax on profit before tax for the period is higher than the standard rate of corporation tax in the UK (2024 - higher than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
1 July 2024 |
Year ended |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Fixed asset differences |
|
|
|
Expenses not deductible for tax purposes |
|
|
|
Decrease in UK and foreign current tax from unrecognised tax loss or credit |
( |
- |
|
Deferred tax expense/(credit) from unrecognised tax loss or credit |
|
( |
|
Total tax charge |
|
|
Deferred tax
Deferred tax assets and liabilities:
|
2025 |
Liability |
|
Accelerated capital allowances |
|
|
Other timing differences |
( |
|
|
|
2024 |
Liability |
|
Accelerated capital allowances |
|
|
Other timing differences |
( |
|
|
Pegasus Planning Group Limited
Notes to the Financial Statements
for the Period from 1 July 2024 to 31 March 2025
|
Intangible assets |
|
Goodwill |
|
|
Cost |
|
|
At 1 July 2024 and at 31 March 2025 |
|
|
Amortisation |
|
|
At 1 July 2024 |
|
|
Amortisation charge |
|
|
At 31 March 2025 |
|
|
Carrying amount |
|
|
At 31 March 2025 |
|
|
At 30 June 2024 |
|
|
Tangible fixed assets |
|
Leasehold improvements |
Fixtures and fittings |
Total |
|
|
Cost |
|||
|
At 1 July 2024 |
|
|
|
|
Additions |
|
|
|
|
At 31 March 2025 |
|
|
|
|
Depreciation |
|||
|
At 1 July 2024 |
|
|
|
|
Charge for the period |
|
|
|
|
At 31 March 2025 |
|
|
|
|
Carrying amount |
|||
|
At 31 March 2025 |
|
|
|
|
At 30 June 2024 |
|
|
|
Assets held under finance leases and hire purchase contracts
The net carrying amount of tangible fixed assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:
|
31 March |
30 June |
|
|
Leasehold improvements |
572,959 |
331,993 |
Pegasus Planning Group Limited
Notes to the Financial Statements
for the Period from 1 July 2024 to 31 March 2025
|
Investments |
|
Subsidiaries |
£ |
|
Cost and carrying amount |
|
|
At 1 July 2024 and 31 March 2025 |
|
Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
|
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
|
2025 |
2024 |
|||
|
Subsidiary undertakings |
||||
|
|
England |
Ordinary |
|
|
|
|
England |
Ordinary |
|
|
|
|
England |
Ordinary |
|
|
|
|
England |
Ordinary |
|
|
The subsidiary's registered office is 33 Sheep Street, Cirencester, GL7 1RT
Armstrong Burton Architects Limited, Armstrong Burton Consulting Engineers Limited and Armstrong Burton Structures Limited gave notice for voluntary strike-off on 21 May 2024 and were dissolved on 6 August 2024.
Armstrong Burton Limited is a dormant.
|
Debtors |
|
31 March |
30 June |
|
|
Trade debtors |
|
|
|
Other debtors |
|
|
|
Prepayments |
|
|
|
Amounts recoverable on contracts |
|
|
|
|
|
Pegasus Planning Group Limited
Notes to the Financial Statements
for the Period from 1 July 2024 to 31 March 2025
|
Creditors |
|
Note |
31 March |
30 June |
|
|
Due within one year |
|||
|
Loans and borrowings |
|
|
|
|
Trade creditors |
|
|
|
|
Social security and other taxes |
|
|
|
|
Outstanding defined contribution pension costs |
|
|
|
|
Other creditors |
|
|
|
|
Accruals and deferred income |
|
|
|
|
Tax liability |
596,194 |
701,768 |
|
|
|
|
||
|
Due after one year |
|||
|
Loans and borrowings |
|
|
|
Loans and borrowings |
Current loans and borrowings
|
31 March |
30 June |
|
|
Bank borrowings |
|
- |
|
HP and finance lease liabilities |
|
|
|
|
|
|
Non-current loans and borrowings
|
31 March |
30 June |
|
|
HP and finance lease liabilities |
|
|
The liabilities held under finance leases agreements are secured against the assets to which they relate, held by the Company.
|
Provisions |
|
Deferred tax |
Dilapidations provisions |
Total |
|
|
At 1 July 2024 |
|
- |
|
|
Additional provisions |
|
|
|
|
At 31 March 2025 |
|
|
|
|
|
|||
Pegasus Planning Group Limited
Notes to the Financial Statements
for the Period from 1 July 2024 to 31 March 2025
|
Pension and other schemes |
The company operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the company to the scheme and amounted to £
Contributions totalling £
|
Share capital |
Allotted, called up and fully paid shares
|
31 March |
30 June |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
2,000 |
|
2,800 |
|
|
- |
- |
|
100 |
|
|
|
200 |
|
300 |
|
|
|
100 |
|
200 |
|
|
|
80 |
|
120 |
|
|
|
700 |
- |
- |
|
|
|
600 |
|
700 |
|
|
|
400 |
|
450 |
|
|
|
400 |
|
450 |
|
|
|
1,220 |
|
1,680 |
|
|
|
8,600 |
|
7,500 |
|
|
|
|
|
|
Rights, preferences and restrictions
A and D shares: Each share in entitled to one vote.
C2 to C11 share holding: The C2-C11 shares have attached to them full dividend and capital distribution (including on winding up) rights, they do not confer any rights of redemption. They confer voting rights at the AGM only.
C99 shares: The C99 shares have attached to them full dividend and capital distribution (including on winding up) rights, they do not confer any rights of redemption. They confer no voting rights.
During the year, the company reclassified shares between various ordinary share classes, with no change to the total number of shares in issue.
Pegasus Planning Group Limited
Notes to the Financial Statements
for the Period from 1 July 2024 to 31 March 2025
|
Obligations under leases |
The total of future minimum lease payments is as follows:
|
31 March |
30 June |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
Later than five years |
|
- |
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the period was £
|
Commitments |
Capital commitments
The total amount contracted for but not provided in the financial statements was £
|
Dividends |
|
31 March 2025 |
30 June 2024 |
|
|
Dividends paid |
2,685,824 |
4,395,242 |
All dividends were paid out of distributable profits.
|
Related party transactions |
Summary of transactions with key management
The total compensation paid to key management personnel for the period was £3,618,461 (2024: for the year £3,792,291).
|
Control |
No one individual or entity controls the group.