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

COMPANY REGISTRATION NUMBER: 08597805

Pegasus Profiles (UK) Limited

Unaudited financial statements

30 June 2025

Pegasus Profiles (UK) Limited

Statement of financial position

30 June 2025

	2025		2024
			(restated)
Note	£	£	£	£

Fixed assets

Tangible assets	5	900,741	900,926
Investments	6	1,077,874	1,077,874
		-----------	-----------
		1,978,615	1,978,800

Current assets

Debtors	7	789,755	787,063
Cash at bank and in hand		68,801	93,931
		---------	---------
		858,556	880,994

Creditors: Amounts falling due within one year	8	( 165,747)		( 264,386)
		---------		---------
Net current assets			692,809		616,608
			-----------		-----------
Total assets less current liabilities			2,671,424		2,595,408

Provisions

Taxation including deferred tax	( 31,919)	( 31,966)
	-----------	-----------
Net assets	2,639,505	2,563,442
	-----------	-----------

Capital and reserves

Called up share capital	1	1
Share premium account	214,065	214,065
Revaluation reserve	95,203	95,203
Other reserves	758,564	758,564
Profit and loss account	1,571,672	1,495,609
	-----------	-----------
Shareholders funds	2,639,505	2,563,442
	-----------	-----------

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 statement of income and retained earnings 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 (UK) 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: 08597805

Pegasus Profiles (UK) 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.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Rental income is recognised on an accruals basis.

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.

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	-	20% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

4. Employee numbers

The average number of employees during the year was 2 (2024: 2 ).

5. Tangible assets

	Freehold property	Plant and machinery	Total
	£	£	£
Cost
At 1 July 2024 (as restated) and 30 June 2025	900,000	4,415	904,415
	---------	------	---------
Depreciation
At 1 July 2024	–	3,489	3,489
Charge for the year	–	185	185
	---------	------	---------
At 30 June 2025	–	3,674	3,674
	---------	------	---------
Carrying amount
At 30 June 2025	900,000	741	900,741
	---------	------	---------
At 30 June 2024	900,000	926	900,926
	---------	------	---------

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.

Tangible assets held at valuation

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	773,063
Aggregate depreciation	–
	---------
Carrying value	773,063
	---------

At 30 June 2024
Aggregate cost	773,063
Aggregate depreciation	–
	---------
Carrying value	773,063
	---------

6. Investments

	Shares in group undertakings
	£
Cost
At 1 July 2024 as restated and 30 June 2025	2,552,236
	-----------
Impairment
At 1 July 2024 as restated and 30 June 2025	1,474,362
	-----------

Carrying amount
At 30 June 2025	1,077,874
	-----------
At 30 June 2024	1,077,874
	-----------

7. Debtors

	2025	2024
		(restated)
	£	£
Trade debtors	422	–
Amounts owed by group undertakings	781,164	774,697
Other debtors	8,169	12,366
	---------	---------
	789,755	787,063
	---------	---------

8. Creditors: Amounts falling due within one year

	2025	2024
		(restated)
	£	£
Trade creditors	–	2,063
Social security and other taxes	4,949	3,823
Other creditors	160,798	258,500
	---------	---------
	165,747	264,386
	---------	---------

9. Prior period errors

The investment value reported in the comparative period was overstated due to an incorrect assessment of the recoverable amount as at 30 June 2024. A restatement has been made to reflect the impairment identified during that period. The tables below show the impact of this adjustment on both the carrying value of investments and the profit and loss reserve:

		£
Opening investment value at 1 July 2023		2,552,236
Impairment		(1,474,362)
		------------
Restated investment value at 30 June 2024		1,077,874
		------------

		£
Profit for the year ended 30 June 2024 (as previously stated)		63,580
Impairment		(1,474,362)
		------------
Profit for the year ended 30 June 2024 (restated)		(1,410,782)
		------------

		£
Opening profit and loss reserve at 1 July 2023		2,906,391
Closing profit and loss reserve at 30 June 2024 (restated)		1,495,609

10. 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.