Pegasus Profiles Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 00902993

Pegasus Profiles Limited

Unaudited financial statements

30 June 2026

Pegasus Profiles Limited

Statement of financial position

30 June 2026

	2026		2025
Note	£	£	£	£

Fixed assets

Tangible assets	5		1,439,733		1,569,634

Current assets

Stocks		437,424	457,413
Debtors	6	1,335,378	1,145,492
Cash at bank and in hand		41,083	26,266
		-----------	-----------
		1,813,885	1,629,171

Creditors: Amounts falling due within one year	7	( 1,413,841)		( 1,444,215)
		-----------		-----------
Net current assets			400,044		184,956
			-----------		-----------
Total assets less current liabilities			1,839,777		1,754,590

Creditors: Amounts falling due after more than one year	8		( 419,419)		( 505,909)

Provisions

Taxation including deferred tax	( 243,783)	( 227,050)
	-----------	-----------
Net assets	1,176,575	1,021,631
	-----------	-----------

Capital and reserves

Called up share capital		99	99
Investment property valuation reserve	9	210,099	210,099
Profit and loss account	9	966,377	811,433
		-----------	-----------
Shareholders funds		1,176,575	1,021,631
		-----------	-----------

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 30 June 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Pegasus Profiles Limited

Statement of financial position (continued)

30 June 2026

These financial statements were approved by the board of directors and authorised for issue on 1 October 2026 , and are signed on behalf of the board by:

G N Clark

Director

Company registration number: 00902993

Pegasus Profiles Limited

Notes to the financial statements

Year ended 30 June 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Charrold Works, Stephenson Way, Thetford, Norfolk, IP24 3RJ.

2. Statement of compliance

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

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.

Judgements and key sources of estimation uncertainty

Estimates and judgements used in preparing the financial statements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The resulting accounting estimates will, by definition seldom equal the related actual results. Any subsequent changes are accounted for with an effect on income at the time such updated information is available. The estimates and assumptions that have a significant effect on the carrying amounts of assets and liabilities are discussed below: - Investment properties - In applying the Company's accounting policies for investment properties carried at fair value, consideration was given to the valuation of the Company's properties at the reporting date. Further detail of the estimate has been included in the tangible assets note.

Revenue recognition

Turnover is recognised at the fair value of the consideration received or receivable in the ordinary course of business, and is shown net of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership 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. Rental income is recognised on an accruals basis in line with lease terms and arises solely in the UK.

Income tax

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.

Operating leases

Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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	-	10% reducing balance
Motor vehicles	-	20% reducing balance
Equipment	-	20% reducing balance

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.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

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. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at present value. Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of employees during the year was 44 (2025: 49 ).

5. Tangible assets

	Freehold property	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 July 2025	400,000	2,230,164	215,877	54,376	2,900,417
Additions	–	2,359	2,000	1,702	6,061
Disposals	–	( 5,400)	( 46,264)	–	( 51,664)
	---------	-----------	---------	-------	-----------
At 30 June 2026	400,000	2,227,123	171,613	56,078	2,854,814
	---------	-----------	---------	-------	-----------
Depreciation
At 1 July 2025	–	1,173,816	130,294	26,673	1,330,783
Charge for the year	–	105,588	16,400	5,557	127,545
Disposals	–	( 5,349)	( 37,898)	–	( 43,247)
	---------	-----------	---------	-------	-----------
At 30 June 2026	–	1,274,055	108,796	32,230	1,415,081
	---------	-----------	---------	-------	-----------
Carrying amount
At 30 June 2026	400,000	953,068	62,817	23,848	1,439,733
	---------	-----------	---------	-------	-----------
At 30 June 2025	400,000	1,056,348	85,583	27,703	1,569,634
	---------	-----------	---------	-------	-----------

Tangible assets held at valuation

Investment property comprises one commercial property let to 3rd party tenants. The fair value of the Company’s investment property at 30 June 2026 has been determined by the directors. In arriving at this valuation, the directors considered market evidence of transaction prices for similar properties and other relevant market data available at the reporting date. The valuation has been made on an open market value basis and reflects the directors’ assessment of fair value in light of current market conditions.

6. Debtors

	2026	2025
	£	£
Trade debtors	897,198	809,950
Amounts owed by group undertakings	351,305	313,736
Other debtors	86,875	21,806
	-----------	-----------
	1,335,378	1,145,492
	-----------	-----------

7. Creditors: Amounts falling due within one year

	2026	2025
	£	£
Bank loans and overdrafts	76,762	191,976
Trade creditors	511,028	408,956
Amounts owed to group undertakings	641,118	585,811
Social security and other taxes	91,474	165,428
Other creditors	93,459	92,044
	-----------	-----------
	1,413,841	1,444,215
	-----------	-----------

Bank loans and overdrafts of £76,762 (2025: £71,362) are secured by the company. Included in other creditors is an amount of £7,369 (2025: £14,512) which is secured against the assets concerned.

8. Creditors: Amounts falling due after more than one year

	2026	2025
	£	£
Bank loans and overdrafts	410,208	489,329
Other creditors	9,211	16,580
	---------	---------
	419,419	505,909
	---------	---------

Included within creditors: amounts falling due after more than one year is an amount of £118,732 (2025: £203,271) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

The bank loans and overdrafts of £410,208 (2025: £489,329) are secured by the company. £339,436 is due to be repaid by June 2032. Interest on the loan is charged at 5.48%. £70,772 is due to be repaid buy June 2030. Interest on the loan is charged at 3.11%. Included in other creditors is an amount of £9,211 (2025: £16,580) which is secured against the assets concerned.

9. Reserves

Investment property valuation reserve - This reserve records accumulated fair value adjustments in respect of the freehold investment property recognised through profit or loss and is non-distributable. Profit and loss account - This reserve records retained earnings and accumulated losses.

10. Contingencies

A cross guarantee agreement has been entered into with Barclays Bank UK Plc, whereby all positive balances that exist within the group headed by Pegasus Profiles (UK) Limited may be called upon to secure or repay any net bank debt.

11. Related party transactions

At the reporting date, the Company had an outstanding balance of £351,305 due from a group company. The balance is interest-free, unsecured, and repayable on demand. At the reporting date, the Company had an outstanding balance of £641,118 due to a group company. The balance is interest-free, unsecured, and repayable on demand.