Pegasus Profiles Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 00902993

Pegasus Profiles Limited

Unaudited financial statements

30 June 2025

Pegasus Profiles Limited

Statement of financial position

30 June 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5		1,569,634		1,650,116

Current assets

Stocks		457,413	483,748
Debtors	6	1,145,492	922,482
Cash at bank and in hand		26,266	294,410
		-----------	-----------
		1,629,171	1,700,640

Creditors: Amounts falling due within one year	7	( 1,444,215)		( 1,458,507)
		-----------		-----------
Net current assets			184,956		242,133
			-----------		-----------
Total assets less current liabilities			1,754,590		1,892,249

Creditors: Amounts falling due after more than one year	8		( 505,909)		( 569,511)

Provisions

Taxation including deferred tax	( 227,050)	( 244,864)
	-----------	-----------
Net assets	1,021,631	1,077,874
	-----------	-----------

Capital and reserves

Called up share capital	99	99
Revaluation reserve	210,099	210,099
Profit and loss account	811,433	867,676
	-----------	-----------
Shareholders funds	1,021,631	1,077,874
	-----------	-----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 30 June 2025 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Pegasus Profiles Limited

Statement of financial position (continued)

30 June 2025

These financial statements were approved by the board of directors and authorised for issue on 30 October 2025 , and are signed on behalf of the board by:

G N Clark

Director

Company registration number: 00902993

Pegasus Profiles Limited

Notes to the financial statements

Year ended 30 June 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Charrold Works, Stephenson Way, Thetford, Norfolk, IP24 3RJ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	10% reducing balance
Motor vehicles	-	20% reducing balance
Equipment	-	20% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of employees during the year was 49 (2024: 49 ).

5. Tangible assets

	Freehold property	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 July 2024	400,000	2,204,199	199,972	54,376	2,858,547
Additions	–	26,965	33,140	–	60,105
Disposals	–	( 1,000)	( 17,235)	–	( 18,235)
	---------	-----------	---------	-------	-----------
At 30 June 2025	400,000	2,230,164	215,877	54,376	2,900,417
	---------	-----------	---------	-------	-----------
Depreciation
At 1 July 2024	–	1,060,479	128,204	19,748	1,208,431
Charge for the year	–	114,312	19,325	6,925	140,562
Disposals	–	( 975)	( 17,235)	–	( 18,210)
	---------	-----------	---------	-------	-----------
At 30 June 2025	–	1,173,816	130,294	26,673	1,330,783
	---------	-----------	---------	-------	-----------
Carrying amount
At 30 June 2025	400,000	1,056,348	85,583	27,703	1,569,634
	---------	-----------	---------	-------	-----------
At 30 June 2024	400,000	1,143,720	71,768	34,628	1,650,116
	---------	-----------	---------	-------	-----------

Tangible assets held at valuation

Investment property comprises residential properties let to 3rd party tenants. The fair value of the Company’s investment property at 30 June 2025 has been determined by the directors. In arriving at this valuation, the directors considered market evidence of transaction prices for similar properties and other relevant market data available at the reporting date. The valuation has been made on an open market value basis and reflects the directors’ assessment of fair value in light of current market conditions.

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Freehold property
	£
At 30 June 2025
Aggregate cost	189,901
Aggregate depreciation	–
	---------
Carrying value	189,901
	---------

At 30 June 2024
Aggregate cost	189,901
Aggregate depreciation	–
	---------
Carrying value	189,901
	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	809,950	778,275
Amounts owed by group undertakings	313,736	133,422
Other debtors	21,806	10,785
	-----------	---------
	1,145,492	922,482
	-----------	---------

7. Creditors: Amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	191,976	80,226
Trade creditors	408,956	520,784
Amounts owed to group undertakings and undertakings in which the company has a participating interest	585,811	579,103
Social security and other taxes	165,428	147,921
Other creditors	92,044	130,473
	-----------	-----------
	1,444,215	1,458,507
	-----------	-----------

Bank loans and overdrafts of £71,362 (2024: £70,284) are secured by the company. Included in other creditors is an amount of £14,512 (2024: £25,517) which is secured against the assets concerned.

8. Creditors: Amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	489,329	562,453
Other creditors	16,580	7,058
	---------	---------
	505,909	569,511
	---------	---------

Included within creditors: amounts falling due after more than one year is an amount of £203,271 (2024: £271,317) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

£396,612 is due to be repaid by June 2032. Interest on the loan is charged at 5.48%. £92,717 is due to be repaid buy June 2030. Interest on the loan is charged at 3.11%. The bank loans and overdrafts of £489,329 (2024: £552,453) are secured by the company. Included in other creditors is an amount of £16,580 (2024: £7,058) which is secured against the assets concerned.

9. Contingencies

A cross guarantee agreement has been entered into with Barclays Bank UK Plc, whereby all positive balances that exist within the group headed by Pegasus Profiles (UK) Limited may be called upon to secure or repay any net bank debt.