REGISTERED NUMBER: 11370684 (England and Wales)

Group Strategic Report,

Report of the Director and

Audited

Consolidated Financial Statements

For The Year Ended 31st March 2025

for

Pegasus Grab Hire Holdings Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Director

3

Report of the Independent Auditors

4

Consolidated Income Statement

8

Consolidated Other Comprehensive Income

9

Consolidated Balance Sheet

10

Company Balance Sheet

11

Consolidated Statement of Changes in Equity

12

Company Statement of Changes in Equity

13

Consolidated Cash Flow Statement

14

Notes to the Consolidated Cash Flow Statement

15

Notes to the Consolidated Financial Statements

16

DIRECTOR:

A D Hall

REGISTERED OFFICE:

14 Victoria Square

Droitwich Spa

Worcestershire

WR9 8DS

REGISTERED NUMBER:

11370684 (England and Wales)

SENIOR STATUTORY AUDITOR:

Jacqueline Anne Mannion FCA, ACCA

AUDITORS:

Wildin (Auditors) Limited

Kings Buildings

Lydney

Gloucestershire

GL15 5HE

The director presents his strategic report of the company and the group for the year ended 31st March 2025.

ON BEHALF OF THE BOARD:

A D Hall - Director

23rd December 2025

The director presents his report with the financial statements of the company and the group for the year ended 31st March 2025.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of being the ultimate holding company for the group.

DIVIDENDS

The total distribution of dividends for the year ended 31st March 2025 will be £ 830,000 .

DIRECTOR

A D Hall held office during the whole of the period from 1st April 2024 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Wildin (Auditors) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

A D Hall - Director

23rd December 2025

Opinion

We have audited the financial statements of Pegasus Grab Hire Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31st March 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 31st March 2025 and of the group's profit for the year 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 director's 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 group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Opinions on other matters 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 Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

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:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is responsible for assessing the group's and the parent 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 director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Auditors' 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.

In relation to fraud , the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.

However it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

In identifying and assessing risk of material misstatement in respect of irregularities , including fraud, the audit engagement team:

-obtain an understanding of the nature of the industry and sector, including the legal and regulatory framework that the company operates in and how the company complying with the legal and regulatory framework;

-inquired of management, those charged with governance, about their own identification and assessment of the risk of irregularities, including an known actual, suspected or alleged instances of fraud;

-inquired of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations by way of data submission report, and whether they are aware of any instances of non-compliance.

-reviewed financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations in direct relation to the company.

- performed audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

-discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud.

As a result of these procedures, we considered the most significant laws and regulations that have a direct impact on the financial statements are FRS 102 the Companies Act 2006 and tax compliance regulations. We performed audit procedures to detect non-compliance which may have a material impact on the financial statements which included reviewing financial statements disclosures, inspecting correspondence with local tax authorities and evaluating advice received from external tax advisors.

The audit engagement team identified the risk of management override of controls and revenue recognition as the areas where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments and evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business. We tested a sample of revenue transactions recognised either side of the reporting date to determine whether revenue was recorded in the correct period.

In addition, we considered provisions of other laws and regulations 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.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our 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 a Report of the Auditors 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.

Jacqueline Anne Mannion FCA, ACCA (Senior Statutory Auditor)

for and on behalf of Wildin (Auditors) Limited

Kings Buildings

Lydney

Gloucestershire

GL15 5HE

23rd December 2025

TURNOVER

3

25,434,847

26,240,614

Cost of sales

20,199,090

21,336,269

GROSS PROFIT

5,235,757

4,904,345

Administrative expenses

3,740,091

3,262,280

1,495,666

1,642,065

Other operating income

391,643

323,847

OPERATING PROFIT

5

1,887,309

1,965,912

Income from shares in group undertakings

6

7,869,682

-

Income from interest in associated undertakings

7

28,028

70,516

Interest receivable and similar income

8

32,067

1,255

7,929,777

71,771

9,817,086

2,037,683

Interest payable and similar expenses

9

597,002

499,969

PROFIT BEFORE TAXATION

9,220,084

1,537,714

Tax on profit

10

440,072

689,992

PROFIT FOR THE FINANCIAL YEAR

8,780,012

847,722

Profit attributable to:

Owners of the parent

8,780,012

847,722

PROFIT FOR THE YEAR

8,780,012

847,722

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

8,780,012

847,722

Total comprehensive income attributable to:

Owners of the parent

8,780,012

847,722

FIXED ASSETS

Tangible assets

13

9,258,083

7,343,988

Investments

14

Interest in joint venture

Share of gross assets

1

1

1

1

Other investments

260,056

-

Investment property

15

2,402,053

2,402,053

11,920,193

9,746,042

CURRENT ASSETS

Stocks

16

293,250

258,770

Debtors

17

7,687,613

7,347,112

Cash at bank

6,673,532

1,486,974

14,654,395

9,092,856

CREDITORS

Amounts falling due within one year

18

6,724,158

7,423,055

NET CURRENT ASSETS

7,930,237

1,669,801

TOTAL ASSETS LESS CURRENT LIABILITIES

19,850,430

11,415,843

CREDITORS

Amounts falling due after more than one year

19

(1,705,902

)

(1,738,304

)

PROVISIONS FOR LIABILITIES

23

(2,119,540

)

(1,574,535

)

NET ASSETS

16,024,988

8,103,004

CAPITAL AND RESERVES

Called up share capital

24

5

4

Share premium

25

10,602

10,602

Retained earnings

25

16,012,392

8,062,380

SHAREHOLDERS' FUNDS

16,022,999

8,072,986

NON-CONTROLLING INTERESTS

26

1,989

30,018

TOTAL EQUITY

16,024,988

8,103,004

The financial statements were approved and authorised for issue by the director and authorised for issue on 23rd December 2025 and were signed by:

A D Hall - Director

FIXED ASSETS

Tangible assets

13

1,503,570

350,000

Investments

14

400,006

400,006

Investment property

15

2,402,053

2,402,053

4,305,629

3,152,059

CURRENT ASSETS

Debtors

17

5,573,305

5,376,395

Cash at bank

6,016,054

517,745

11,589,359

5,894,140

CREDITORS

Amounts falling due within one year

18

2,927,275

3,665,296

NET CURRENT ASSETS

8,662,084

2,228,844

TOTAL ASSETS LESS CURRENT LIABILITIES

12,967,713

5,380,903

PROVISIONS FOR LIABILITIES

23

230,056

-

NET ASSETS

12,737,657

5,380,903

CAPITAL AND RESERVES

Called up share capital

24

5

4

Retained earnings

25

12,737,652

5,380,899

SHAREHOLDERS' FUNDS

12,737,657

5,380,903

Company's profit for the financial year

8,186,753

1,369,677

The financial statements were approved and authorised for issue by the director and authorised for issue on 23rd December 2025 and were signed by:

A D Hall - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1st April 2023

4

7,464,658

10,602

7,475,264

Changes in equity

Dividends

-

(250,000

)

-

(250,000

)

Total comprehensive income

-

847,722

-

847,722

Balance at 31st March 2024

4

8,062,380

10,602

8,072,986

Changes in equity

Issue of share capital

1

-

-

1

Dividends

-

(830,000

)

-

(830,000

)

Total comprehensive income

-

8,780,012

-

8,780,012

Balance at 31st March 2025

5

16,012,392

10,602

16,022,999

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1st April 2023

4

4,261,222

4,261,226

Changes in equity

Dividends

-

(250,000

)

(250,000

)

Total comprehensive income

-

1,369,677

1,369,677

Balance at 31st March 2024

4

5,380,899

5,380,903

Changes in equity

Issue of share capital

1

-

1

Dividends

-

(830,000

)

(830,000

)

Total comprehensive income

-

8,186,753

8,186,753

Balance at 31st March 2025

5

12,737,652

12,737,657

Cash flows from operating activities

Cash generated from operations

1

2,012,341

(612,139

)

Interest paid

(597,002

)

(499,969

)

Tax paid

(144,999

)

-

Taxation refund

-

262,755

Net cash from operating activities

1,270,340

(849,353

)

Cash flows from investing activities

Purchase of intangible fixed assets

-

8,289

Purchase of tangible fixed assets

(3,821,759

)

(2,082,405

)

Purchase of fixed asset investments

(1,300,279

)

-

Sale of tangible fixed assets

920,108

869,617

Sale of fixed asset investments

1,040,223

-

Proceeds from disposal of joint ventures

-

484,293

Repayment of Loans

-

(191,965

)

Interest received

32,067

1,255

Dividends received

7,897,710

-

Net cash from investing activities

4,768,070

(910,916

)

Cash flows from financing activities

New loans in year

-

3,521,667

Capital repayments in year

(22,069

)

-

Amount withdrawn by directors

216

-

Share issue

1

-

Payment of finance lease obligations

-

(931,395

)

Equity dividends paid

(830,000

)

(363,023

)

Net cash from financing activities

(851,852

)

2,227,249

Increase in cash and cash equivalents

5,186,558

466,980

Cash and cash equivalents at beginning of year

2

1,486,974

1,019,994

Cash and cash equivalents at end of year

2

6,673,532

1,486,974

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.3.25

31.3.24

£

£

Profit before taxation

9,220,084

1,537,714

Depreciation charges

1,008,986

918,802

(Profit)/loss on disposal of fixed assets

(21,429

)

14,325

Amortisation and Impairment of assets

-

(8,289

)

Finance costs

597,002

499,969

Finance income

(7,929,777

)

(71,771

)

2,874,866

2,890,750

(Increase)/decrease in stocks

(34,480

)

414,225

Increase in trade and other debtors

(1,213,366

)

(3,821,561

)

Increase/(decrease) in trade and other creditors

385,321

(95,553

)

Cash generated from operations

2,012,341

(612,139

)

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31st March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

6,673,532

1,486,974

Year ended 31st March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

1,486,974

1,019,994

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank

1,486,974

5,186,558

6,673,532

1,486,974

5,186,558

6,673,532

Debt

Hire purchase and finance leases

(3,099,127

)

22,069

(3,077,058

)

Debts falling due within 1 year

(3,510,000

)

1,615,239

(1,894,761

)

Debts falling due after 1 year

(11,667

)

10,000

(1,667

)

(6,620,794

)

1,647,308

(4,973,486

)

Total

(5,133,820

)

6,833,866

1,700,046

1.	STATUTORY INFORMATION

Pegasus Grab Hire Holdings Limited 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Joint ventures

Pegasus Traffic Management Limited. U K Registered Company. Shares held 50%. Other Transportation support activities.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance and 5% on reducing balance

Fixtures and fittings

-

25% on reducing balance and 15% on reducing balance

Motor vehicles

-

25% on reducing balance and 15% on reducing balance

Computer equipment

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by geographical market is given below:

31.3.25

31.3.24

£

£

United Kingdom

25,434,847

26,240,614

25,434,847

26,240,614

4.	EMPLOYEES AND DIRECTORS

Group

31.03.2025

31.03.2024

£

£

Wages and Salaries

2,799,877

2,116,517

Social Security Costs

271,844

267,769

Pension Costs

32,258

60,658

Total

3,103,979

2,444,944

The Company had no employees in the year or previous year.