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

COMPANY REGISTRATION NUMBER: 01669461

Pegasus Profiles (Southern) Limited

Unaudited financial statements

30 June 2025

Pegasus Profiles (Southern) Limited

Statement of financial position

30 June 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5		243,619		249,703

Current assets

Stocks		61,105	72,428
Debtors	6	123,344	105,805
Cash at bank and in hand		33,553	27,672
		---------	---------
		218,002	205,905

Creditors: Amounts falling due within one year	7	( 565,232)		( 400,848)
		---------		---------
Net current liabilities			( 347,230)		( 194,943)
			---------		---------
Total assets less current liabilities			( 103,611)		54,760

Creditors: Amounts falling due after more than one year	8		–		( 10,920)

Provisions

Taxation including deferred tax	24,094	9,010
	---------	-------
Net (liabilities)/assets	( 79,517)	52,850
	---------	-------

Capital and reserves

Called up share capital	87	87
Capital redemption reserve	11	11
Profit and loss account	( 79,615)	52,752
	-------	-------
Shareholders (deficit)/funds	( 79,517)	52,850
	-------	-------

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 (Southern) Limited

Statement of financial position (continued)

30 June 2025

These financial statements were approved by the board of directors and authorised for issue on 3 December 2025 , and are signed on behalf of the board by:

G N Clark

Director

Company registration number: 01669461

Pegasus Profiles (Southern) 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. The trading address of the company is Hopkinson Way, Andover, SP10 3ZE.

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.

Going concern

The accounts have been prepared on a going concern basis, the validity of which depends on the continued support of the directors. If the company was unable to continue trading, adjustments would have to be made to reduce the value of the assets to their recoverable amount and to provide for any further liabilities which might arise.

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 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.

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:

Long leasehold property	-	over the life of the lease
Plant and machinery	-	30% reducing balance
Motor vehicles	-	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.

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 2 (2024: 2 ).

5. Tangible assets

	Long leasehold property	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost
At 1 July 2024 and 30 June 2025	274,965	56,000	12,399	343,364
	---------	-------	-------	---------
Depreciation
At 1 July 2024	67,011	18,586	8,064	93,661
Charge for the year	1,476	3,741	867	6,084
	---------	-------	-------	---------
At 30 June 2025	68,487	22,327	8,931	99,745
	---------	-------	-------	---------
Carrying amount
At 30 June 2025	206,478	33,673	3,468	243,619
	---------	-------	-------	---------
At 30 June 2024	207,954	37,414	4,335	249,703
	---------	-------	-------	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	116,864	95,762
Other debtors	6,480	10,043
	---------	---------
	123,344	105,805
	---------	---------

7. Creditors: Amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	9,927	9,947
Trade creditors	41,683	47,824
Amounts owed to group undertakings	510,152	329,016
Other creditors	3,470	14,061
	---------	---------
	565,232	400,848
	---------	---------

Included in other creditors is an amount of £920 (2024: £10,831) which is secured against the asset concerned.

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

	2025	2024
	£	£
Bank loans and overdrafts	–	10,000
Other creditors	–	920
	----	-------
	–	10,920
	----	-------

Included in other creditors is an amount of £Nil (2024: £920) which is secured against the asset 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.