Unaudited Financial Statements

for the Year Ended 31 December 2025

for

Pegasus Classic Engineering Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T A Foster

Miss S Osborne

REGISTERED OFFICE:

8/10 South Street

Epsom

Surrey

KT18 7PF

REGISTERED NUMBER:

13616895 (England and Wales)

ACCOUNTANTS:

Williams & Co Epsom LLP

Chartered Accountants

8-10 South Street

Epsom

Surrey

KT18 7PF

FIXED ASSETS

Tangible assets

4

928,315

57,683

CURRENT ASSETS

Stocks

10,000

389,362

Debtors

5

103,919

113,162

Cash at bank

18,163

130,360

132,082

632,884

CREDITORS

Amounts falling due within one year

6

738,160

485,828

NET CURRENT (LIABILITIES)/ASSETS

(606,078

)

147,056

TOTAL ASSETS LESS CURRENT LIABILITIES

322,237

204,739

CREDITORS

Amounts falling due after more than one year

7

30,896

15,220

NET ASSETS

291,341

189,519

CAPITAL AND RESERVES

Called up share capital

9

17

14

Share premium

879,991

579,994

Retained earnings

(588,667

)

(390,489

)

SHAREHOLDERS' FUNDS

291,341

189,519

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

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

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 May 2026 and were signed on its behalf by:

T A Foster - Director

1.	STATUTORY INFORMATION

Pegasus Classic Engineering 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.

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.

Improvements to property

-

Straight line over 3 years

Race cars for hire

-

5% on cost

Fixtures and fittings

-

Straight line over 3 years

Motor vehicles

-

25% on reducing balance

Computer equipment

-

Straight line over 3 years

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 Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - 3 ).

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Race cars

and

property

for hire

fittings

£

£

£

COST

At 1 January 2025

22,288

84,488

17,143

Additions

-

497,623

1,686

Disposals

-

-

-

Reclassification/transfer

-

389,362

-

At 31 December 2025

22,288

971,473

18,829

DEPRECIATION

At 1 January 2025

22,288

51,655

17,143

Charge for year

-

52,875

107

Eliminated on disposal

-

-

-

At 31 December 2025

22,288

104,530

17,250

NET BOOK VALUE

At 31 December 2025

-

866,943

1,579

At 31 December 2024

-

32,833

-

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2025

66,265

182

190,366

Additions

47,168

976

547,453

Disposals

(23,983

)

-

(23,983

)

Reclassification/transfer

-

-

389,362

At 31 December 2025

89,450

1,158

1,103,198

DEPRECIATION

At 1 January 2025

41,415

182

132,683

Charge for year

5,089

243

58,314

Eliminated on disposal

(16,114

)

-

(16,114

)

At 31 December 2025

30,390

425

174,883

NET BOOK VALUE

At 31 December 2025

59,060

733

928,315

At 31 December 2024

24,850

-

57,683

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

Motor

vehicles

£

COST

Additions

47,169

At 31 December 2025

47,169

NET BOOK VALUE

At 31 December 2025

47,169

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

39,641

21,300

Other debtors

10,207

40,207

Accrued income

42,525

32,775

Prepayments

11,546

18,880

103,919

113,162

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other loans (see note 8)

681,000

431,000

Hire purchase contracts

22,563

22,263

VAT

18,354

27,616

Other creditors

12,460

2,166

Directors' current accounts

283

283

Accrued expenses

3,500

2,500

738,160

485,828

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

30,896

15,220

8.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Other loans

681,000

431,000

The company took a further £250,000 loan from Cloth Fair Nauclerus Consultancy Limited, interest free and repayable on demand no earlier than 2028.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1,650

Ordinary Shares

0.01

17

14

300 Ordinary Shares shares of 0.01 each were allotted as fully paid at a premium of £999.99 per share during the year.

10.	OTHER FINANCIAL COMMITMENTS

The company has a lease on the business premises that runs to December 2027. Current annual rental is £34,000 pa.

11.	RELATED PARTY DISCLOSURES

In the year, sales of £15,000 were made to a related party, Cloth Fair Nauclerus Consultancy Limited (2024: £0).