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REGISTERED NUMBER: 06699692 (England and Wales)







STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

VECTOR GB LIMITED

VECTOR GB LIMITED (REGISTERED NUMBER: 06699692)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Income Statement 7

Other Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


VECTOR GB LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: T A Beck
J M Cooper





REGISTERED OFFICE: 2480 Regents Court
The Crescent
Birmingham
West Midlands
B37 7YE





REGISTERED NUMBER: 06699692 (England and Wales)





AUDITORS: Prime
Chartered Accountants
Statutory Auditor
Corner Oak
1 Homer Road
Solihull
B91 3QG

VECTOR GB LIMITED (REGISTERED NUMBER: 06699692)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024


We aim to present a balanced and comprehensive review of the development and performance of the business during the year and its position at the year end. Our report is consistent with the size and nature of the business.

REVIEW OF BUSINESS
The results for the year and financial position of the company are as shown in the annexed financial statements.

The last year has seen a dip in the company's trading results reflecting the global dynamic year marked by significant growth in electric vehicle (EV) adoption, strategic shifts among major manufacturers, and emerging challenges in key markets including the UK. Investment in UK R&D, particularly in electronics and software, supporting the gradual move towards Software Defined Vehicle (SDV), remains positive. This trading year gross profit margin has fallen from 23% to 11%. Administrative expenses in total have remained fairly stable compared to the previous year. The company has continued to make a profit before tax of £1.4m (2023: £4.6m) and maintain their position in the marketplace.

PRINCIPAL RISKS AND UNCERTAINTIES
The company's activities expose it to a number of financial risks including price risk, credit risk, cash flow risk and liquidity risk.

The business' principal financial instruments comprise bank balances, trade debtors, trade creditors and intercompany loans to the parent company. The main purpose of these instruments is to finance the business' operations.

All of the business' cash balances are held in such a way that achieves a competitive rate of interest.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits. The amounts presented in the balance sheet are net of allowances for doubtful debtors.

Trade creditors' liquidity risk is managed ensuring sufficient funds are available to meet amounts due.

The business manages the liquidity risk by ensuring that there are sufficient funds to meet the payments.

KEY PERFORMANCE INDICATORS
The main key performance indicator (KPI) for the company is the gross profit margin (being the ratio of gross profit to turnover) which has dipped from 23% to 11% in 2024. The adjustment is impacted by the product mix in the last trading period. It is expected that GP will continue to be stable through the course of H1 2025 as UK development programme activity and investment in R&D continues despite the global changes.

ON BEHALF OF THE BOARD:





J M Cooper - Director


31 March 2025

VECTOR GB LIMITED (REGISTERED NUMBER: 06699692)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2024


The directors present their report with the financial statements of the company for the year ended 31 December 2024.

DIVIDENDS
During the year, the company paid dividends of £2,500,000 (2023:£2,000,000).

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

T A Beck
J M Cooper

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Prime, are deemed to be reappointed under section 487(2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:





J M Cooper - Director


31 March 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
VECTOR GB LIMITED


Opinion
We have audited the financial statements of Vector GB Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
VECTOR GB LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the industry sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence;

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining accounting estimates were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
VECTOR GB LIMITED


In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC and other relevant parties.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Kevin Johns BSc FCA (Senior Statutory Auditor)
for and on behalf of Prime
Chartered Accountants
Statutory Auditor
Corner Oak
1 Homer Road
Solihull
B91 3QG

9 April 2025

VECTOR GB LIMITED (REGISTERED NUMBER: 06699692)

INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2023
Notes £    £   

TURNOVER 3 22,813,960 25,127,711

Cost of sales 20,388,994 19,376,199
GROSS PROFIT 2,424,966 5,751,512

Administrative expenses 1,258,015 1,255,810
1,166,951 4,495,702

Other operating income 183,658 115,786
OPERATING PROFIT 5 1,350,609 4,611,488

Interest receivable and similar income 60,506 27,902
PROFIT BEFORE TAXATION 1,411,115 4,639,390

Tax on profit 6 379,273 1,125,223
PROFIT FOR THE FINANCIAL YEAR 1,031,842 3,514,167

VECTOR GB LIMITED (REGISTERED NUMBER: 06699692)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 1,031,842 3,514,167


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,031,842

3,514,167

VECTOR GB LIMITED (REGISTERED NUMBER: 06699692)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 8 2,958,281 2,291,077
Investments 9 8 8
Investment property 10 2,249,553 2,801,483
5,207,842 5,092,568

CURRENT ASSETS
Debtors 11 3,235,745 4,144,890
Cash at bank 1,579,222 3,449,524
4,814,967 7,594,414
CREDITORS
Amounts falling due within one year 12 4,941,515 6,143,356
NET CURRENT (LIABILITIES)/ASSETS (126,548 ) 1,451,058
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,081,294

6,543,626

PROVISIONS FOR LIABILITIES 14 425,039 419,213
NET ASSETS 4,656,255 6,124,413

CAPITAL AND RESERVES
Called up share capital 15 350,000 350,000
Retained earnings 16 4,306,255 5,774,413
SHAREHOLDERS' FUNDS 4,656,255 6,124,413

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2025 and were signed on its behalf by:





J M Cooper - Director


VECTOR GB LIMITED (REGISTERED NUMBER: 06699692)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2023 350,000 4,260,246 4,610,246

Changes in equity
Dividends - (2,000,000 ) (2,000,000 )
Total comprehensive income - 3,514,167 3,514,167
Balance at 31 December 2023 350,000 5,774,413 6,124,413

Changes in equity
Dividends - (2,500,000 ) (2,500,000 )
Total comprehensive income - 1,031,842 1,031,842
Balance at 31 December 2024 350,000 4,306,255 4,656,255

VECTOR GB LIMITED (REGISTERED NUMBER: 06699692)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,622,581 4,563,513
Tax paid (787,847 ) (815,333 )
Net cash from operating activities 834,734 3,748,180

Cash flows from investing activities
Purchase of tangible fixed assets (212,359 ) -
Purchase of investment property (53,183 ) -
Interest received 60,506 27,902
Net cash from investing activities (205,036 ) 27,902

Cash flows from financing activities
Equity dividends paid (2,500,000 ) (2,000,000 )
Net cash from financing activities (2,500,000 ) (2,000,000 )

(Decrease)/increase in cash and cash equivalents (1,870,302 ) 1,776,082
Cash and cash equivalents at
beginning of year

2

3,449,524

1,673,442

Cash and cash equivalents at end of
year

2

1,579,222

3,449,524

VECTOR GB LIMITED (REGISTERED NUMBER: 06699692)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 1,411,115 4,639,390
Depreciation charges 150,266 130,221
Finance income (60,506 ) (27,902 )
1,500,875 4,741,709
Decrease/(increase) in trade and other debtors 909,145 (1,385,545 )
(Decrease)/increase in trade and other creditors (787,439 ) 1,207,349
Cash generated from operations 1,622,581 4,563,513

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024
31.12.24 1.1.24
£    £   
Cash and cash equivalents 1,579,222 3,449,524
Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 3,449,524 1,673,442


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.24 Cash flow At 31.12.24
£    £    £   
Net cash
Cash at bank 3,449,524 (1,870,302 ) 1,579,222
3,449,524 (1,870,302 ) 1,579,222
Total 3,449,524 (1,870,302 ) 1,579,222

VECTOR GB LIMITED (REGISTERED NUMBER: 06699692)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Vector GB 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
As at 31 December 2024, the company has net current liabilities of £126,548 (2023: net current assets of £1,451,058). The directors have prepared the financial statements on a going concern basis as it is considered that the group have sufficient resources and support to meet its liabilities as they fall due at least 12 months from the signing of these financial statements.

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.
Freehold property - 2% on cost
Office equipment - 10% on cost and Straight line over 6 years
Fixtures and fittings - 10% on cost
Motor vehicles - Straight line over 6 years
Computer equipment - 33.33% on cost

Investment property
Treatment of investment property deviates from FRS102. The parent company is based in Germany, and have requested that the asset is instead valued on a historical cost basis, as per the group policy. A depreciation policy of 2% on cost is then applied.

Financial instruments
Financial instruments are initially measured at fair value on the date in which the contract is entered and are subsequently valued at fair value with any movement being included in the income statement.

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 balance sheet date.


VECTOR GB LIMITED (REGISTERED NUMBER: 06699692)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 22,813,960 24,572,038
Rest of World - 555,673
22,813,960 25,127,711

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 4,187,185 4,026,355
Social security costs 370,961 461,616
Other pension costs 20,736 17,280
4,578,882 4,505,251

The average number of employees during the year was as follows:
2024 2023

Office 48 47

VECTOR GB LIMITED (REGISTERED NUMBER: 06699692)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


4. EMPLOYEES AND DIRECTORS - continued

2024 2023
£    £   
Directors' remuneration 229,892 202,428
Directors' pension contributions to money purchase schemes 20,736 17,280

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 229,892 202,428
Pension contributions to money purchase schemes 20,736 17,280

5. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 150,267 130,221
Auditors' remuneration 13,750 13,500
Foreign exchange differences 89 351

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 373,447 1,124,618
Tax under/over provision prior - 2,861
Total current tax 373,447 1,127,479

Deferred tax 5,826 (2,256 )
Tax on profit 379,273 1,125,223

VECTOR GB LIMITED (REGISTERED NUMBER: 06699692)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


6. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,411,115 4,639,390
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 23.520%)

352,779

1,091,185

Effects of:
Expenses not deductible for tax purposes 9,179 11,424
Depreciation in excess of capital allowances 17,114 25,981
Adjustments to tax charge in respect of previous periods - 2,861
Deferred tax movement 5,826 (2,256 )
Qualifying donations (5,625 ) (3,998 )
Rounding due to marginal tax rate - 26
Total tax charge 379,273 1,125,223

The main rate of corporation tax increased from 19% to 25% from 1 April 2023.

7. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Final 2,500,000 2,000,000

VECTOR GB LIMITED (REGISTERED NUMBER: 06699692)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


8. TANGIBLE FIXED ASSETS
Fixtures
Freehold Office and
property equipment fittings
£    £    £   
COST
At 1 January 2024 2,043,059 3,451 522,206
Additions 146,764 - 65,595
Reclassification/transfer 583,035 - -
At 31 December 2024 2,772,858 3,451 587,801
DEPRECIATION
At 1 January 2024 87,933 1,045 193,881
Charge for year 53,068 503 53,133
Reclassification/transfer 18,639 - -
At 31 December 2024 159,640 1,548 247,014
NET BOOK VALUE
At 31 December 2024 2,613,218 1,903 340,787
At 31 December 2023 1,955,126 2,406 328,325

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2024 17,084 41,139 2,626,939
Additions - - 212,359
Reclassification/transfer - - 583,035
At 31 December 2024 17,084 41,139 3,422,333
DEPRECIATION
At 1 January 2024 11,864 41,139 335,862
Charge for year 2,847 - 109,551
Reclassification/transfer - - 18,639
At 31 December 2024 14,711 41,139 464,052
NET BOOK VALUE
At 31 December 2024 2,373 - 2,958,281
At 31 December 2023 5,220 - 2,291,077

In 2019, the company purchased freehold land and buildings for a total of £2,043,059. Included within this amount is land valued at £577,500.

VECTOR GB LIMITED (REGISTERED NUMBER: 06699692)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


9. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 January 2024
and 31 December 2024 8
NET BOOK VALUE
At 31 December 2024 8
At 31 December 2023 8

10. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 2,890,838
Additions 53,182
Reclassification/transfer (583,035 )
At 31 December 2024 2,360,985
DEPRECIATION
At 1 January 2024 89,355
Charge for year 40,716
Reclassification/transfer (18,639 )
At 31 December 2024 111,432
NET BOOK VALUE
At 31 December 2024 2,249,553
At 31 December 2023 2,801,483

In 2019, the company purchased investment property for a total of £2,679,857. Included within this amount is land valued at £656,500.

As per the accounting policy note, treatment of investment property has deviated from UK GAAP. The directors are satisfied that the value of the investment property is not materially misstated in the accounts when compared to the FRS102 standard using the revaluation model.

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,176,829 2,611,356
Other debtors 2,058,916 1,533,534
3,235,745 4,144,890

VECTOR GB LIMITED (REGISTERED NUMBER: 06699692)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 14,363 111,697
Amounts owed to group undertakings 896,551 1,590,944
Tax 47,597 461,997
Social security and other taxes 125,059 115,174
VAT 184,982 567,570
Other creditors 444,517 198,152
Deferred income 2,609,288 2,348,375
Accrued expenses 619,158 749,447
4,941,515 6,143,356

13. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 141,104 122,749
Between one and five years 36,184 147,122
177,288 269,871
Minimum lease receipts under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 183,658 183,658
Between one and five years 244,877 428,535
428,535 612,193

14. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 425,039 419,213

Deferred
tax
£   
Balance at 1 January 2024 419,213
Charge to Income Statement during year 5,826
Balance at 31 December 2024 425,039

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
350,000 Ordinary £1 350,000 350,000

VECTOR GB LIMITED (REGISTERED NUMBER: 06699692)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


16. RESERVES
Retained
earnings
£   

At 1 January 2024 5,774,413
Profit for the year 1,031,842
Dividends (2,500,000 )
At 31 December 2024 4,306,255

17. RELATED PARTY DISCLOSURES

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.

18. ULTIMATE PARENT COMPANY

Vector Informatik GmbH, a company incorporated in Germany, is regarded by the directors as being the company's ultimate parent company. It's registered office is Ingersheimer Strasse 24, 70499 Stuttgart, Germany.