Registration number: 06668004

Vasight Limited

Contents

Company Information	1
Director's Report	2
Balance Sheet	3
Notes to the Unaudited Financial Statements	4 to 10

Vasight Limited

Company Information

Director

Gary Knight

Registered office

20 The Stables Forge Lane Halesowen B62 8EB

Vasight Limited

Director's Report for the Year Ended 31 March 2025

The director presents his report and the financial statements for the year ended 31 March 2025.

Director of the company

The director who held office during the year was as follows:

Gary Knight

Principal activity

The principal activity of the company is development of building projects.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 3 November 2025
 

......................................... Gary Knight Director

Vasight Limited

(Registration number: 06668004)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	82,757	102,665
Current assets
Debtors	5	211,713	174,901
Cash at bank and in hand		1,999	(6,106)
		213,712	168,795
Creditors: Amounts falling due within one year	6	(229,592)	(152,810)
Net current (liabilities)/assets		(15,880)	15,985
Total assets less current liabilities		66,877	118,650
Creditors: Amounts falling due after more than one year	6	(66,020)	(114,299)
Net assets		857	4,351
Capital and reserves
Called up share capital		150	150
Retained earnings		707	4,201
Shareholders' funds		857	4,351

For the financial year ending 31 March 2025 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 accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account and Director's Report.

Approved and authorised by the director on 3 November 2025
 

......................................... Gary Knight Director

Vasight Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
20 The Stables
Forge Lane
Halesowen
B62 8EB

These financial statements were authorised for issue by the director on 3 November 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Vasight Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Vehicles, plant and machinery	20% per annum, reducing balance
Office equipment	20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Vasight Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Vasight Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 13 (2024 - 16).

Vasight Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	14,609	195,143	209,752
Additions	1,135	20,396	21,531
Disposals	-	(76,569)	(76,569)
At 31 March 2025	15,744	138,970	154,714
Depreciation
At 1 April 2024	7,583	99,504	107,087
Charge for the year	2,430	17,144	19,574
Eliminated on disposal	-	(54,704)	(54,704)
At 31 March 2025	10,013	61,944	71,957
Carrying amount
At 31 March 2025	5,731	77,026	82,757
At 31 March 2024	7,026	95,639	102,665

5

Debtors

Current	Note	2025 £	2024 £
Trade debtors		137,013	109,316
Amounts owed by related parties	8	3,522	3,522
Prepayments		10,732	15,324
Other debtors		60,446	46,739
		211,713	174,901

6

Creditors

Creditors: amounts falling due within one year

Vasight Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	7	66,189	54,837
Trade creditors		113,217	56,208
Taxation and social security		25,135	12,346
Accruals and deferred income		20,304	21,782
Other creditors		4,747	7,637
		229,592	152,810

Vasight Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	7	66,020	114,299

7	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	47,917	72,917
Hire purchase contracts	15,603	28,882
Other borrowings	2,500	12,500
	66,020	114,299

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	25,000	24,999
Bank overdrafts	17,976	6,625
Hire purchase contracts	13,213	13,213
Other borrowings	10,000	10,000
	66,189	54,837

8	Related party transactions

Transactions with the director

2025	At 1 April 2024 £	Advances to director £	Repayments by director £	At 31 March 2025 £
Gary Knight
Directors loan account	(134)	41,992	(36,086)	5,772