REGISTERED NUMBER: 13357201 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2025

for

PEGGS & SON LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

I Peggs

REGISTERED OFFICE:

Preston Park House

South Road

Brighton

East Sussex

BN1 6SB

REGISTERED NUMBER:

13357201 (England and Wales)

ACCOUNTANTS:

Plus Accounting

Chartered Accountants

Preston Park House

South Road

Brighton

East Sussex

BN1 6SB

FIXED ASSETS

Intangible assets

4

600,000

700,000

Tangible assets

5

49,115

56,524

649,115

756,524

CURRENT ASSETS

Stocks

618,135

739,642

Debtors

6

96,411

107,472

Cash at bank and in hand

146,213

103,839

860,759

950,953

CREDITORS

Amounts falling due within one year

7

(688,957

)

(1,069,761

)

NET CURRENT ASSETS/(LIABILITIES)

171,802

(118,808

)

TOTAL ASSETS LESS CURRENT LIABILITIES

820,917

637,716

CREDITORS

Amounts falling due after more than one year

8

-

(10,001

)

PROVISIONS FOR LIABILITIES

10

(1,939

)

(2,269

)

NET ASSETS

818,978

625,446

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

818,878

625,346

SHAREHOLDERS' FUNDS

818,978

625,446

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 by the director and authorised for issue on 8 January 2026 and were signed by:

I Peggs - Director

1.	STATUTORY INFORMATION

Peggs & Son 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover represents the fair value of consideration received or receivable net of VAT and trade discounts. Revenue from the sale of goods is recognised at the point of sale.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures & fittings

-

25% reducing balance

Computer equipment

-

33% on cost

Short leasehold

-

8 years on cost

Stocks

Stock is valued at the lower of cost and estimated selling price less costs.

Financial instruments

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

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.

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

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 company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the income statement when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Impairment

At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an 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 asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Government assistance

Included in bank loans is a bounce back loan which is guaranteed by the government. As part of the bounce back loan scheme, the government paid the first year of interest on the loan.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2024 - 22 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2024

and 31 May 2025

1,000,000

AMORTISATION

At 1 June 2024

300,000

Amortisation for year

100,000

At 31 May 2025

400,000

NET BOOK VALUE

At 31 May 2025

600,000

At 31 May 2024

700,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 June 2024

55,144

7,875

11,362

74,381

Additions

-

269

5,410

5,679

At 31 May 2025

55,144

8,144

16,772

80,060

DEPRECIATION

At 1 June 2024

6,893

4,553

6,411

17,857

Charge for year

6,893

898

5,297

13,088

At 31 May 2025

13,786

5,451

11,708

30,945

NET BOOK VALUE

At 31 May 2025

41,358

2,693

5,064

49,115

At 31 May 2024

48,251

3,322

4,951

56,524

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

96,411

107,472

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,001

10,000

Trade creditors

360,314

431,095

Taxation and social security

226,464

219,828

Other creditors

92,178

408,838

688,957

1,069,761

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

-

10,001

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

35,500

35,700

Between one and five years

15,524

45,258

51,024

80,958

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

1,939

2,269

Deferred tax

£

Balance at 1 June 2024

2,269

Accelerated capital allowances

(330

)

Balance at 31 May 2025

1,939

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

75

Ordinary A

£1

75

75

25

Ordinary B

£1

25

25

100

100