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

COMPANY REGISTRATION NUMBER: 01669461

Pegasus Profiles (Southern) Limited

Unaudited financial statements

30 June 2026

Pegasus Profiles (Southern) Limited

Statement of financial position

30 June 2026

	2026		2025
Note	£	£	£	£

Fixed assets

Tangible assets	5		205,002		243,619

Current assets

Stocks		3,956	61,105
Debtors	6	36,039	147,438
Cash at bank and in hand		9,760	33,553
		-------	---------
		49,755	242,096

Creditors: Amounts falling due within one year	7	( 553,102)		( 565,232)
		---------		---------
Net current liabilities			( 503,347)		( 323,136)
			---------		---------
Total assets less current liabilities			( 298,345)		( 79,517)
			---------		-------
Net liabilities			( 298,345)		( 79,517)
			---------		-------

Capital and reserves

Called up share capital	87	87
Capital redemption reserve	11	11
Profit and loss account	( 298,443)	( 79,615)
	---------	-------
Shareholders deficit	( 298,345)	( 79,517)
	---------	-------

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 .

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: 01669461

Pegasus Profiles (Southern) 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. The trading address of the company is Hopkinson Way, Andover, SP10 3ZE.

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.

Going concern

The accounts have been prepared on a going concern basis, the validity of which depends on the continued support of the directors and the group company Pegasus Profiles Limited. If the company was unable to continue trading, adjustments would have to be made to reduce the value of the assets to their recoverable amount and to provide for any further liabilities which might arise.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

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 directors consider that there are no no estimates or assumptions that have a significant effect on the financial statements.

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.

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.

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:

Long leasehold property	-	over the life of the lease
Plant and machinery	-	30% reducing balance
Motor vehicles	-	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.

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 2 (2025: 2 ).

5. Tangible assets

	Long leasehold property	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost
At 1 July 2025	274,965	56,000	12,399	343,364
Disposals	–	( 56,000)	( 12,399)	( 68,399)
	---------	-------	-------	---------
At 30 June 2026	274,965	–	–	274,965
	---------	-------	-------	---------
Depreciation
At 1 July 2025	68,487	22,327	8,931	99,745
Charge for the year	1,476	–	–	1,476
Disposals	–	( 22,327)	( 8,931)	( 31,258)
	---------	-------	-------	---------
At 30 June 2026	69,963	–	–	69,963
	---------	-------	-------	---------
Carrying amount
At 30 June 2026	205,002	–	–	205,002
	---------	-------	-------	---------
At 30 June 2025	206,478	33,673	3,468	243,619
	---------	-------	-------	---------

6. Debtors

	2026	2025
	£	£
Trade debtors	–	116,864
Other debtors	36,039	30,574
	-------	---------
	36,039	147,438
	-------	---------

7. Creditors: Amounts falling due within one year

	2026	2025
	£	£
Bank loans and overdrafts	–	9,927
Trade creditors	270	41,683
Amounts owed to group undertakings	549,977	510,152
Social security and other taxes	155	–
Other creditors	2,700	3,470
	---------	---------
	553,102	565,232
	---------	---------

Included in other creditors is an amount of £Nil (2025: £920) which is secured against the asset concerned.

8. 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.

9. Related party transactions

At the reporting date, the Company had an outstanding balance of £549,977 due to group companies. The balance is interest-free, unsecured, and repayable on demand.