Pegasus Horseshoes Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01457518 (England and Wales)

PEGASUS HORSESHOES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTOR:

S E Dale

REGISTERED OFFICE:

West Street

Stamford

Lincolnshire

PE9 2JD

REGISTERED NUMBER:

01457518 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

14 All Saints Street

Stamford

Lincolnshire

PE9 2PA

FIXED ASSETS

Property, plant and equipment

4

119

141

Investments

5

42,929

43,048

43,070

CURRENT ASSETS

Debtors

6

16,018

11,113

Cash at bank

10,921

2,427

26,939

13,540

CREDITORS

Amounts falling due within one year

7

73,726

73,182

NET CURRENT LIABILITIES

(46,787

)

(59,642

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,739

)

(16,572

)

CAPITAL AND RESERVES

Called up share capital

9

9,000

Capital redemption reserve

1,000

Retained earnings

(13,739

)

(26,572

)

SHAREHOLDERS' FUNDS

(3,739

)

(16,572

)

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 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 6 August 2026 and were signed by:

S E Dale - Director

1.	STATUTORY INFORMATION

Pegasus Horseshoes 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 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.

Going concern

During the year, the company made a profit before tax of £15,938 (2024: £10,682).

At 31 December 2025 the company had net current liabilities of £46,787 (2024: £59,642) and net liabilities of £3,739 (2024: £16,572).

The company meets its day to day working capital requirements through interest free loans from a subsidiary company. At the balance sheet date these loans totalled £42,929 (2024: £42,929).

The leases on the rental property expired as of 20th March 2026. The director has confirmed that a renewal of the leases is not being pursued. The director is negotiating an orderly withdrawal from the premises occupied and the company continues to pay and collect rent during this period.

Based on the above, the going concern basis is not appropriate and the financial statements of the company are prepared on a realisation basis where assets are measured at the lower of carrying amounts and estimated net realisable values, while liabilities are measured at their estimated settlement amounts.

Preparation of consolidated financial statements

The financial statements contain information about Pegasus Horseshoes Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.

Tangible fixed assets

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

Short leasehold

- Straight line over period of lease

Plant and machinery

- 15% on reducing balance

Motor vehicles

- 25% on reducing balance

Investments in subsidiaries

Investments in subsidiaries are stated at cost less impairment.

Financial instruments

The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, 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. Accounts 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 the effective interest method.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Short

Plant and

leasehold

machinery

Totals

£

COST

At 1 January 2025

and 31 December 2025

22,782

3,635

26,417

DEPRECIATION

At 1 January 2025

22,782

3,494

26,276

Charge for year

-

22

At 31 December 2025

22,782

3,516

26,298

NET BOOK VALUE

At 31 December 2025

-

119

At 31 December 2024

-

141

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2025

and 31 December 2025

42,929

NET BOOK VALUE

At 31 December 2025

42,929

At 31 December 2024

42,929

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

5,250

-

Directors' loan accounts

1,894

-

Prepayments and accrued income

8,874

11,113

16,018

11,113

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Corporation tax

3,238

133

Other creditors

11,850

Amounts owed to group companies

42,929

Directors' loan accounts

-

4,850

Accrued expenses

15,709

13,420

73,726

73,182

8.	LEASING AGREEMENTS

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

2025

2024

£

Within one year

11,375

45,500

Between one and five years

-

11,375

56,875

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

9,000

Ordinary

£1

9,000

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2025 and 31 December 2024:

2025

2024

£

S E Dale

Balance outstanding at start of year

-

Amounts advanced

1,894

-

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

1,894

-

Loans to directors are interest free and repayable on demand.

11.	POST BALANCE SHEET EVENTS

The leases on the rental property expired as of 20th March 2026. The director has confirmed that a renewal of the leases is not being pursued. The director is negotiating an orderly withdrawal from the premises occupied and the company continues to pay and collect rent during this period.

The director's decision not to renew the leases on the property the company occupies and sub-lets will place additional financial liabilities on the company. Costs will be incurred in relation to legal and professional fees in negotiating an orderly exit from the lettings business. In addition, covenants in the leases in relation to dilapidations will have to be met. These costs have yet to be determined.