Vtech Systems Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04590233

Vtech Systems Limited

Filleted Unaudited Financial Statements

31 December 2024

Vtech Systems Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	6		19,573	24,268

Current assets

Stocks		70,000	90,000
Debtors	7	481,499	495,634
Cash at bank and in hand		62,700	26,525
		---------	---------
		614,199	612,159

Creditors: amounts falling due within one year	8	471,008		420,411
		---------		---------
Net current assets			143,191	191,748
			---------	---------
Total assets less current liabilities			162,764	216,016

Creditors: amounts falling due after more than one year	9	41,194	90,792
		---------	---------
Net assets		121,570	125,224
		---------	---------

Capital and reserves

Called up share capital	4	4
Profit and loss account	121,566	125,220
	---------	---------
Shareholders funds	121,570	125,224
	---------	---------

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

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Vtech Systems Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 24 September 2025 , and are signed on behalf of the board by:

Mr S J Aram
Director

Company registration number: 04590233

Vtech Systems Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is H4 Unit 14, Milton Road, Didcot, Oxon, OX11 7HH.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and 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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

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:

Leasehold Workshop	-	10% reducing balance
Plant & Machinery	-	25% reducing balance
Fixtures & Fittings	-	25% reducing balance
Motor Vehicles	-	25% reducing balance

	Office Equipment	-	25% 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.

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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2023: 15 ).

5. Dividends

Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):

	2024	2023
	£	£
Equity dividends on ordinary shares	198,000	–
	---------	----

6. Tangible assets

	Long leasehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Jan 2024 and 31 Dec 2024	23,457	2,428	13,328	26,135	17,931	83,279
	--------	-------	--------	--------	--------	--------
Depreciation
At 1 Jan 2024	14,303	1,257	11,745	17,310	14,396	59,011
Charge for the year	916	293	396	2,206	884	4,695
	--------	-------	--------	--------	--------	--------
At 31 Dec 2024	15,219	1,550	12,141	19,516	15,280	63,706
	--------	-------	--------	--------	--------	--------
Carrying amount
At 31 Dec 2024	8,238	878	1,187	6,619	2,651	19,573
	--------	-------	--------	--------	--------	--------
At 31 Dec 2023	9,154	1,171	1,583	8,825	3,535	24,268
	--------	-------	--------	--------	--------	--------

7. Debtors

	2024	2023
	£	£
Trade debtors	259,928	215,433
Other debtors	221,571	280,201
	---------	---------
	481,499	495,634
	---------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	49,666	57,290
Trade creditors	189,114	203,131
Corporation tax	153,578	94,730
Social security and other taxes	42,731	25,621
Other creditors	35,919	39,639
	---------	---------
	471,008	420,411
	---------	---------

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	41,194	90,792
	--------	--------

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	19,940	18,278
Later than 1 year and not later than 5 years	18,278	–
	--------	--------
	38,218	18,278
	--------	--------

11. Director's advances, credits and guarantees

At the beginning of the year the director owed the company £247,589 in respect of previous loan advances of which, £198,000 was repaid during the current period. Additional net loan advances totalling £136,046 were made during the period leaving a total balance of £185,635 owing to the company at the year end. The maximum loan outstanding at any time was £285,240. Interest was charged on the average outstanding balance.

12. Related party transactions

The company was under the control of the managing Director Mr S J Aram and his wife, throughout this period.