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Registered Number: 01375226
England and Wales

 

 

 

VECTOR HOLDINGS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 January 2024

End date: 31 December 2024
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts of Vector Holdings Limited for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the members of Vector Holdings Limited, as a body, in accordance with the terms of our engagement letter dated 20th March 2016. Our work has been undertaken solely to prepare for your approval the accounts of Vector Holdings Limited and state those matters that we have agreed to state to the Board of Vector Holdings Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants and as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Vector Holdings Limited and its members as a body for our work or for this report.

It is your duty to ensure that Vector Holdings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Vector Holdings Limited. You consider that Vector Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Vector Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



....................................................
Allazo Ltd
2 Claridge Court
Lower Kings Road
Berkhamsted
Hertfordshire
HP4 2AF
02 May 2025
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Investments 4 17,072,214    11,292,214 
17,072,214    11,292,214 
Current assets      
Debtors: amounts falling due within one year 5,299,711    4,974,979 
Cash at bank and in hand 273,962    568,013 
5,573,673    5,542,992 
Creditors: amount falling due within one year (306,047)   (899,110)
Net current assets 5,267,626    4,643,882 
 
Total assets less current liabilities 22,339,840    15,936,096 
Net assets 22,339,840    15,936,096 
 

Capital and reserves
     
Called up share capital 5 900,000    900,000 
Reserves 6 2,000,000    2,000,000 
Capital Redemption Reserve 100,000    100,000 
Profit and loss account 19,339,840    12,936,096 
Shareholders' funds 22,339,840    15,936,096 
 


For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 02 May 2025 and were signed on its behalf by:


-------------------------------
Agam Jain
Director
2
General Information
Vector Holdings Limited is a private company, limited by shares, registered in England and Wales, company number 01375226, registered address 2 Claridge Court, Lower Kings Road, Berkhamsted, HP4 2AF

The presentation currency is £ sterling.
1.

Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
Group accounts
The company is a parent company subject to the small companies regime. The company and its subsidiaries comprise a small group. The company has taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.
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. 
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.
Turnover is derived from UK operations only.
  • Rendering of services
Turnover from the rendering of services is recognised by reference to the legal obligation to receive income as per the contract in place.  Income is accrued on a daily basis for revenue not received.
  • Interest receivable on commercial loans is recognised on an accrual basis calculated using the effective interest method.
  • Software licencing fees are recognised in line with the provision of the service. 
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 or refundable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
Deferred taxation
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.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. Deferred tax assets and deferred tax liabilities are offset only if the company has legal right to set off against current tax liabilities and if they both relate to income tax levied by the same taxation authority on the same entity.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Fixed asset investments
Fixed asset investments are stated at the fair value, provided the value can be reliably measured.  Otherwise they are included at cost less impairment.
Shares in Group companies
Shares in Group companies are stated according to their status:-
  • Listed shares are stated at market value with any revaluations are recognised in the income statement.
  • Unlisted shares are stated at cost less impairment. 
Provisions
Provisions are recognised when the company has a present obligation, as a result of a past event, which it is more probable than not will result in an outflow of economic benefits and the outflow can be reasonably estimated.
Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates. The following are significant management judgements in applying the accounting policies of the group that have the most significant effect on the financial statements. 
  • Bad and doubtful debts
Management monitors debts carefully, the company operates tight controls to ensure bad debts are minimised, including the holding of adequate legal security. Where debts become overdue management assess the collectibility of the debt on a case by case basis, where doubts exist over the recoverability provisions will be made and charged to the profit and loss account. 
  • Investments
The directors monitor the fair value of the investments held by the company.   Investments in subsidiaries, where unlisted, are carried at nominal share value held by the company, the directors review this for signs of impairment.  No revaluations of unlisted investments have been deemed necessary in the current year. 
  • Going concern
The company's forecasts and projections, taking into account potential changes in trading patterns, indicate that the company will be able to continue current operations for the foreseeable future. 
The directors have included new business opportunities within the scenario based forecasts and on this basis the directors believe there is a reasonable expectation that the company will continue in operational existence for the foreseeable future. In addition the directors have obtained comfort from other companies within the wider related party group that they will be able to repay loans to the Company on demand should it need it. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
  • Subsequent events
There are no post balance sheet events which warrant adjustment or disclosure.
Financial instruments
  • Financial assets
Basic financial assets, including trade and other debtors, inter-group loans, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. Assets within one year are not amortised.
  • Financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.




2.

Average number of employees and directors

Average number of employees during the year was 3 (2023 : 3).
3.

Intangible fixed assets

Cost Research and Development   Total
  £   £
At 01 January 2024 711,720    711,720 
Additions  
Disposals (711,720)   (711,720)
At 31 December 2024  
Amortisation
At 01 January 2024 711,720    711,720 
Charge for year  
On disposals (711,720)   (711,720)
At 31 December 2024  
Net book values
At 31 December 2024  
At 31 December 2023  


4.

Investments

Cost Other investments other than loans   Investments in group undertakings   Total
  £   £   £
At 01 January 2024 72,214    11,220,000    11,292,214 
Additions    
Transfer to/from tangible fixed assets    
Disposals    
Revaluations   5,780,000    5,780,000 
At 31 December 2024 72,214    17,000,000    17,072,214 
Investments fixed assets
Included in Other Investments other than loans are:
  • Other investments includes £72,214 investment in Tangoride Inc, a company registered in Canada (2023, £72,214).  
Investments in Group Undertakings
Vector Capital Plc
Majority owned subsidiary, principal activity holding company for two trading subsidiaries, figures below are consolidated;
Shares held 34,000,000 Ordinary £0.005 shares at a cost of £17,000,000 (£170,000 at par, £16,830,000 share premium).  The company was delisted from the AIM market during the year, the shares have been revalued to cost as at the year end, being £17,000,000 (2023, £11,220,000).
  • Consolidated capital and reserves for the Subsidary £18,923,259 (2023, £25,524,301).
  • Conslidated loss for the year £2,259,296 (2023, profit £1,580,508).
Financial statements are prepared under IFRS and Companies Act 2006. There are no conflicts in accounting standards.

The trading subsidiaries which are 100% owned by Vector Capital Plc and included in the consolidated results above are;
  • Vector Business Finance Ltd, principal activity commercial lending
  • Vector Asset Finance Ltd, principal activity commercial lending
The directors do not intend to realise these investments within 12 months of the balance sheet date and so consider them to be fixed in nature.

5.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
900,000 Ordinary shares of £1.00 each 900,000    900,000 
900,000    900,000 

3