REGISTERED NUMBER: 07567587 (England and Wales)

Financial Statements

For The Year Ended 31st March 2025

for

Pegasus Grab Hire Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A D Hall

REGISTERED OFFICE:

14 Victoria Square

Droitwich Spa

Worcestershire

WR9 8DS

REGISTERED NUMBER:

07567587 (England and Wales)

AUDITORS:

Wildin (Auditors) Limited

Kings Buildings

Lydney

Gloucestershire

GL15 5HE

FIXED ASSETS

Tangible assets

4

5,552,072

5,504,488

CURRENT ASSETS

Stocks

5

293,250

258,770

Debtors

6

1,350,811

1,106,579

Cash at bank

345,436

305,366

1,989,497

1,670,715

CREDITORS

Amounts falling due within one year

7

2,385,720

2,398,404

NET CURRENT LIABILITIES

(396,223

)

(727,689

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,155,849

4,776,799

CREDITORS

Amounts falling due after more than one year

8

(1,060,767

)

(1,497,383

)

PROVISIONS FOR LIABILITIES

10

(1,388,018

)

(1,314,406

)

NET ASSETS

2,707,064

1,965,010

CAPITAL AND RESERVES

Called up share capital

11

2

2

Retained earnings

12

2,707,062

1,965,008

SHAREHOLDERS' FUNDS

2,707,064

1,965,010

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 30th December 2025 and were signed by:

A D Hall - Director

1.	STATUTORY INFORMATION

Pegasus Grab Hire Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risk and rewards of ownership of the goods have passed to the buyer ( usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant & Machinery

5% or 15% on reducing balance

Fixtures & Fittings

15% on reducing balance

Office Equipment

25% on reducing balance

Motor Vehicles

15% or 25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash generating unit to which the asset belongs.

Recoverable amount is the higher of the fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have been adjusted.

If the recoverable amount of an asset ( or cash generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset ( or cash generating unit) is reduced to it recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have creased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset ( or cash generating unit) is increased to the revised estimate of it recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset ( or cash generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. The current tax payable is based on taxable profit for the year.

Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date and deferred tax assets are recognised to the extent that is possible that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timinariseserencegoodwill from godwill or from the initial recognition of other assets and liabilities in a transaction that affects neiprofithe tax profti nor the accounting profit.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Hire purchase and leasing commitments

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risk and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included on the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit and loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit and loss on a straightline basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial INstruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidence a residual interest in the assets of the company after deducting all its liabilities.

Basic financial liabilities

Basic financial liabilities , including creditors, bank loans, loans from fellow group companies and preference shares that as classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortisied costs, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using effective interest method.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net transaction costs. Dividends payable on equity instruments are recognised once they are non longer at the discretion of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2024 - 42 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st April 2024

4,272,108

152,855

2,918,446

131,063

7,474,472

Additions

1,357,935

48,195

-

2,195

1,408,325

Disposals

(1,022,070

)

-

-

-

(1,022,070

)

At 31st March 2025

4,607,973

201,050

2,918,446

133,258

7,860,727

DEPRECIATION

At 1st April 2024

962,647

94,327

814,182

98,828

1,969,984

Charge for year

389,045

11,177

315,638

8,249

724,109

Eliminated on disposal

(385,438

)

-

-

-

(385,438

)

At 31st March 2025

966,254

105,504

1,129,820

107,077

2,308,655

NET BOOK VALUE

At 31st March 2025

3,641,719

95,546

1,788,626

26,181

5,552,072

At 31st March 2024

3,309,461

58,528

2,104,264

32,235

5,504,488

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

Fixed assets with a carrying amount of £5,552,072 (2024 - £5,504,488) have been pledged to secure borrowings of the company from 1st August 2023. The company is not allowed to pledge these assets as security for other borrowings or to sell them to another entity.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1st April 2024

2,646,308

2,587,063

5,233,371

Additions

1,076,000

-

1,076,000

At 31st March 2025

3,722,308

2,587,063

6,309,371

DEPRECIATION

At 1st April 2024

372,290

608,094

980,384

Charge for year

272,398

296,842

569,240

At 31st March 2025

644,688

904,936

1,549,624

NET BOOK VALUE

At 31st March 2025

3,077,620

1,682,127

4,759,747

At 31st March 2024

2,274,018

1,978,969

4,252,987

5.

STOCKS

31.3.25

31.3.24

£

£

Stocks

293,250

258,770

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

1,201,239

936,859

Amounts owed by group undertakings

125,000

143,695

Other debtors

18,000

26,025

VAT

4,991

-

Prepayments

1,581

-

1,350,811

1,106,579

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts (see note 9)

966,616

1,161,684

Trade creditors

361,900

416,499

Amounts owed to group undertakings

378,423

251,215

Tax

552,346

293,151

Social security and other taxes

42,215

41,371

VAT

-

176,796

Accrued expenses

84,220

57,688

2,385,720

2,398,404

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts (see note 9)

1,060,767

1,497,383

9.	LEASING AGREEMENTS

Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

10.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Deferred tax

1,388,018

1,314,406

Deferred

tax

£

Balance at 1st April 2024

1,314,406

Charge to Income Statement during year

73,612

Balance at 31st March 2025

1,388,018

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

1

Ordinary A

1

1

1

1

Ordinary B

1

1

1

2

2

Ordinary A and B shares have the right to receive notice of and attend and vote at general meetings of the company. To participate in the profits of the company available for distribution in such amounts and in such manner as the company may resolve in general meeting, and in the event of a winding-up, patriciate in the distribution of any assets of the company (including uncalled shares at the commencement of the winding-up) remaining after paying and discharging the debts and liabilities of the company and the costs of the winding-up .

A charge dates 1st August 2023 was registered at Companies House over the 1 ordinary A share and the 1 ordinary B share of capital owned by Pegasus Grab Hire Holdings Limited.

12.

RESERVES

Retained

earnings

£

At 1st April 2024

1,965,008

Profit for the year

982,054

Dividends

(240,000

)

At 31st March 2025

2,707,062

Profit and loss reserves

Profit and loss reserves represent the accumulated realised earnings from the prior and current periods as reduced by losses and dividends from time to time.

13.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jacqueline Anne Mannion F C A, ACCA (Senior Statutory Auditor)

for and on behalf of Wildin (Auditors) Limited

14.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A D Hall.

A Hall is the ultimate controlling party through his majority shareholding in Pegasus Grab Hire Holdings Limited.