Pegasus Spas Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 7006458

Pegasus Spas Ltd

Filleted Unaudited Financial Statements

31 December 2025

Pegasus Spas Ltd

Financial Statements

Year ended 31 December 2025

Contents	Pages

Statement of financial position	1 to 2

Notes to the financial statements	3 to 7

Pegasus Spas Ltd

Statement of Financial Position

31 December 2025

	2025	2024
Note	£	£

Fixed assets

Intangible assets	6	54,844	61,699
Tangible assets	7	42,151	54,296
		--------	---------
		96,995	115,995

Current assets

Stocks		429,300	411,975
Debtors	8	17,586	18,754
Cash at bank and in hand		7,796	675
		---------	---------
		454,682	431,404

Creditors: amounts falling due within one year	9	( 432,976)	( 415,462)
		---------	---------
Net current assets		21,706	15,942
		---------	---------
Total assets less current liabilities		118,701	131,937

Creditors: amounts falling due after more than one year	10	( 88,879)	( 131,415)

	---------	---------
Net assets	29,822	522
	---------	---------

Capital and reserves

Called up share capital	11	100	100
Profit and loss account		29,722	422
		--------	----
Shareholders funds		29,822	522
		--------	----

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 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Pegasus Spas Ltd

Statement of Financial Position (continued)

31 December 2025

These financial statements were approved by the board of directors and authorised for issue on 24 July 2026 , and are signed on behalf of the board by:

Mr S.R. Bamford
Director

Company registration number: 7006458

Pegasus Spas Ltd

Notes to the Financial Statements

Year ended 31 December 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 20-22 Wenlock Road, London, England N1 7GY.

2. Statement of compliance

These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.

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 director has a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason, the director continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods and services is recognised when the significant risks and rewards of ownership of the goods 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. The turnover shown in the profit and loss account represents amounts invoiced during the period, excluding VAT.

Taxation

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. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	Over 10 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

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.

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:

Plant and machinery	-	25% reducing balance
Motor vehicles	-	25% reducing balance
Office equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

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.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2024: 3 ).

5. Tax on profit/(loss)

Major components of tax expense/(income)

	2025	2024
	£	£

Current tax:

UK current tax expense/(income)	462	( 7,361)
	----	-------
Tax on profit/(loss)	462	( 7,361)
	----	-------

6. Intangible assets

	Goodwill
	£
Cost
At 1 January 2025 and 31 December 2025	68,555
	--------
Amortisation
At 1 January 2025	6,856
Charge for the year	6,855
	--------
At 31 December 2025	13,711
	--------
Carrying amount
At 31 December 2025	54,844
	--------
At 31 December 2024	61,699
	--------

7. Tangible assets

	Plant and machinery	Motor vehicles	Office equipment	Total
	£	£	£	£
Cost
At 1 January 2025	3,348	69,943	2,161	75,452
Additions	1,905	–	–	1,905
	-------	--------	-------	--------
At 31 December 2025	5,253	69,943	2,161	77,357
	-------	--------	-------	--------
Depreciation
At 1 January 2025	1,900	17,486	1,770	21,156
Charge for the year	838	13,114	98	14,050
	-------	--------	-------	--------
At 31 December 2025	2,738	30,600	1,868	35,206
	-------	--------	-------	--------
Carrying amount
At 31 December 2025	2,515	39,343	293	42,151
	-------	--------	-------	--------
At 31 December 2024	1,448	52,457	391	54,296
	-------	--------	-------	--------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Motor vehicles
	£
At 31 December 2025	39,343
	--------
At 31 December 2024	52,457
	--------

8. Debtors

	2025	2024
	£	£
Trade debtors	13,248	14,474
Other debtors	4,338	4,280
	--------	--------
	17,586	18,754
	--------	--------

Other debtors include an amount of £Nil (2024 - £Nil) falling due after more than one year.

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts (secured)	61,291	61,447
Trade creditors	89,444	98,383
Corporation tax	10,362	10,021
Social security and other taxes	160,643	108,640
Obligations under finance leases and hire purchase contracts	6,261	6,275
Other creditors	104,975	130,696
	---------	---------
	432,976	415,462
	---------	---------

The bank facilities of the company are secured by legal charges over the assets of the company.

10. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts (secured)	38,681	74,957
Obligations under finance leases and hire purchase contracts	50,198	56,458
	--------	---------
	88,879	131,415
	--------	---------

11. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

12. Related party transactions

The company was under the control of Mr S.R. Bamford , the managing director, throughout the current and previous year by virtue of his majority shareholding. During the year the company paid dividends totalling £10,500 (2024 - £13,200) to the shareholders.