Company registration number 02310700 (England and Wales)
VISION TECHNIQUES (UK) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
VISION TECHNIQUES (UK) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
VISION TECHNIQUES (UK) LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
5,974
9,816
Tangible assets
4
269,717
195,521
275,691
205,337
Current assets
Stocks
1,016,436
1,101,854
Debtors
5
2,954,546
2,789,844
Cash at bank and in hand
68,336
74,566
4,039,318
3,966,264
Creditors: amounts falling due within one year
6
(867,159)
(1,161,730)
Net current assets
3,172,159
2,804,534
Total assets less current liabilities
3,447,850
3,009,871
Creditors: amounts falling due after more than one year
7
(64,776)
(74,747)
Provisions for liabilities
8
(101,977)
(100,000)
Net assets
3,281,097
2,835,124
Capital and reserves
Called up share capital
9
50,000
50,000
Profit and loss reserves
3,231,097
2,785,124
Total equity
3,281,097
2,835,124
VISION TECHNIQUES (UK) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2025
30 April 2025
- 2 -
For the financial year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 27 August 2025 and are signed on its behalf by:
Mrs S L Wood
Director
Company registration number 02310700 (England and Wales)
VISION TECHNIQUES (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -
1
Accounting policies
Company information
Vision Techniques (UK) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Phoenix House, Phoenix Park, Blakewater Road, Blackburn, BB1 5SJ.
1.1
Accounting convention
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.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company finances its operations by means of a bank overdraft facilitytrue and a debt finance facility. The directors are not aware of any reason why the facilities will not be maintained at their current level. As a result the directors have continued to adopt the going concern basis in preparing the financial statements.
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
1.5
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Patents
33.3% straight line
1.6
Tangible fixed assets
Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
15% Straight line basis
Fixtures, fittings & equipment
15% - 33.3% Straight line basis
Motor vehicles
12.5% - 25% Straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
VISION TECHNIQUES (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 4 -
1.7
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.8
Stocks
Stocks are stated at the lower of cost and net realisable value.
1.9
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.10
Financial instruments
The company has applied the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
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. Amounts 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.
VISION TECHNIQUES (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 5 -
1.11
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.12
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted. The company’s provision for deferred tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.13
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.14
Warranty costs
All costs incurred in meeting the company's obligations under items sold with warranty are charged to the profit and loss account as incurred. In addition a provision is made in respect of the best estimate of costs likely to be incurred in respect of warranties sold up to the balance sheet date which have not yet been the subject of a claim under the terms of sale.
1.15
Extended warranty sales
Revenue from the sale of extended warranties is released to the profit and loss account on a straight line basis over the period covered by the extended warranty.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
34
33
VISION TECHNIQUES (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 6 -
3
Intangible fixed assets
Other
£
Cost
At 1 May 2024
71,325
Additions
1,559
At 30 April 2025
72,884
Amortisation and impairment
At 1 May 2024
61,509
Amortisation charged for the year
5,401
At 30 April 2025
66,910
Carrying amount
At 30 April 2025
5,974
At 30 April 2024
9,816
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2024
1,442,163
Additions
165,962
Disposals
(27,990)
At 30 April 2025
1,580,135
Depreciation and impairment
At 1 May 2024
1,246,642
Depreciation charged in the year
91,766
Eliminated in respect of disposals
(27,990)
At 30 April 2025
1,310,418
Carrying amount
At 30 April 2025
269,717
At 30 April 2024
195,521
The net book value of assets acquired under hire purchase contracts is £143,651 (2024: £161,164). Depreciation charged in the period on these assets is £62,411 (2024: £63,345).
VISION TECHNIQUES (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
(Continued)
- 7 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,010,971
850,008
Amounts owed by group undertakings
1,897,269
1,904,729
Other debtors
46,306
35,107
2,954,546
2,789,844
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
32,068
264,822
Trade creditors
68,041
100,358
Taxation and social security
528,266
535,566
Other creditors
238,784
260,984
867,159
1,161,730
Included within bank loans and overdrafts is an amount owing in respect of the debt factoring facility of £32,068 (2024: £264,822). The debt factoring creditor is secured by a fixed and floating charge over the company's assets.
Obligations under hire purchase contracts of £71,782 (2024 - £55,880) are included in other creditors and are secured upon the assets to which they relate.
7
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance leases
64,776
74,747
Obligations under hire purchase contracts of £64,776 (2024 - £74,747) are included in other creditors and are secured upon the assets to which they relate.
VISION TECHNIQUES (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 8 -
8
Provisions for liabilities
2025
2024
£
£
Warranty and rectification reserve
100,000
100,000
Deferred tax liabilities
1,977
101,977
100,000
9
Called up share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
50,000 Ordinary shares of £1 each
50,000
50,000
50,000
50,000
10
Financial commitments, guarantees and contingent liabilities
The company has given fixed and floating charges which cover all the property and undertaking of the company. The charges are given as security for outstanding loans of the ultimate holding company which are £1,290,083 (2024 - £1,558,215) at the year end.
VISION TECHNIQUES (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 9 -
11
Operating lease commitments
As lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2025
2024
£
£
Total commitments
31,832
50,600
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