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Registration number: 03018286

Videotext Communications Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 31 March 2025

Videotext Communications Limited

Contents

Balance Sheet | 1 to 2
Statement of Changes in Equity | 3
Notes to the Unaudited Financial Statements | 4 to 10

Videotext Communications Limited

(Registration number: 03018286)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Investments | 4 | 100 | 100
Current assets |  |  |
Debtors | 5 | 733,469 | 748,365
Cash at bank and in hand |  | 30,935 | 93,121
|  | 764,404 | 841,486
Creditors: Amounts falling due within one year | 6 | (339,796) | (257,350)
Net current assets |  | 424,608 | 584,136
Total assets less current liabilities |  | 424,708 | 584,236
Creditors: Amounts falling due after more than one year | 6 | (1,458) | (7,200)
Provisions for liabilities |  | (212) | (225)
Net assets |  | 423,038 | 576,811
Capital and reserves |  |  |
Called up share capital |  | 2 | 2
Retained earnings |  | 423,036 | 576,809
Shareholders' funds |  | 423,038 | 576,811

Videotext Communications Limited

(Registration number: 03018286)
Balance Sheet as at 31 March 2025

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.

Approved and authorised by the director on 2 November 2025

Mr T D Taylor Director |  |

Videotext Communications Limited

Statement of Changes in Equity for the Year Ended 31 March 2025

| Share capital £ | Retained earnings £ | Total £
At 1 April 2023 | 2 | 821,086 | 821,088
Profit for the year | - | 76,123 | 76,123
Dividends | - | (320,400) | (320,400)
At 31 March 2024 | 2 | 576,809 | 576,811

| Share capital £ | Retained earnings £ | Total £
At 1 April 2024 | 2 | 576,809 | 576,811
Profit for the year | - | 84,727 | 84,727
Dividends | - | (238,500) | (238,500)
At 31 March 2025 | 2 | 423,036 | 423,038

Videotext Communications 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:
Uplands
Upper West Terrace
Budleigh Salterton
Devon
EX9 6NZ

These financial statements were authorised for issue by the director on 2 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.

The financial statements are prepared in sterling, which is the functional and presentational currency of the company, and rounded to the nearest £.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Going concern

These financial statements are prepared on a going concern basis.

Government grants

Government grants are recognised when it is reasonable to expect that the grants will be received
and that all related conditions will be met, usually on submission of a valid claim or payment.
Government grants in respect of capital expenditure are credited to a deferred income account and
are released to profit over the expected useful lives of the relevant assets by equal annual
instalments.
Grants of a revenue nature are credited to income so as to match them with the expenditure to which
they relate.

Videotext Communications Limited

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

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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
Plant and machinery | 25% reducing balance
Fixtures, fittings and equipment | 25% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Videotext Communications Limited

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

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.

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.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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

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.

Videotext Communications Limited

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

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the sale of goods and for the provision of services in the ordinary course of the company’s activities. Revenue is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue for the sale of goods when all the following conditions are satisfied:
a) the significant risks and rewards of ownership have been transferred to the buyer;
b) the group retains no continuing involvement or control over the goods;
c) the amount of revenue can be reliably measured;
d) it is probable that future economic benefits will flow to the company; and
e) specific criteria have been met for each of the groups activities.
The company recognises revenue from the provision of services in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
a) the amount of revenue can be reliably measured;
b) it is probable that future economic benefit will flow to the company;
c) the stage of completion of the contract at the end of the reporting period can be reliably measured; and
d) the costs incurred and the costs to complete the contract can be reliably measured.

Share capital

Dividends and other distributions to the equity holders of the company are recognised as a liability in the statement of changes in equity in the period in which the dividend and other distributions are approved by the shareholders.
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.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year was 2 (2024 - 2).

Videotext Communications Limited

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

4 | Investments

| 2025 £ | 2024 £
Investments in subsidiaries | 100 | 100

Subsidiaries | £
Cost or valuation
At 1 April 2024 | 100
Carrying amount
At 31 March 2025 | 100
At 31 March 2024 | 100

Videotext Communications Limited

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

5 | Debtors

| Note | 2025 £ | 2024 £
Trade debtors |  | 7,014 | 16,944
Other debtors |  | 675,703 | 677,836
Accrued income |  | 47,225 | 49,833
Deferred tax assets |  | 3,527 | 3,752
|  | 733,469 | 748,365

6 | Creditors

Due within one year | Note | 2025 £ | 2024 £
Loans and borrowings | 7 | 5,742 | 7,557
Trade creditors |  | 10,410 | -
Amounts due to related parties | 8 | 266,146 | 12,701
Social security and other taxes |  | 4,719 | 11,713
Other creditors |  | 617 | 183,322
Accruals |  | 24,263 | 17,264
Corporation tax liability |  | 27,899 | 24,793
|  | 339,796 | 257,350
Due after one year |  |  |
Loans and borrowings | 7 | 1,458 | 7,200

7 | Loans and borrowings

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 5,742 | 7,557

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 1,458 | 7,200

Videotext Communications Limited

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

8 | Related party transactions

Terms of loans to related parties
During the year the company made a loan to the director. Interest was charged at 2.25% where applicable and the loan is repayable on demand.

Transactions with the director

2025 | At 1 April 2024 £ | Advances to director £ | Repayments by director £ | At 31 March 2025 £
Mr T D Taylor
| 474,964 | 79,306 | (53,438) | 500,832

2024 | At 1 April 2023 £ | Advances to director £ | Repayments by director £ | At 31 March 2024 £
Mr T D Taylor
| 540,289 | 36,570 | (101,895) | 474,964

Summary of transactions with subsidiaries

Time Team Digital Limited
(Wholly owned subsidiary)
During the year the company maintained an intercompany loan account with Time Team Digital Limited. No interest has been charged on this loan. At the balance sheet date the amount due to Time Team Digital Limited was £266,146 (2024 - £12,627).

Loans to/(from) related parties

2025 | Subsidiary £ | Total £
At start of period | (12,627) | (12,627)
Advanced | (369,449) | (369,449)
Repaid | 115,930 | 115,930
At end of period | (266,146) | (266,146)

2024 | Subsidiary £ | Total £
At start of period | 101,365 | 101,365
Advanced | (167,785) | (167,785)
Repaid | 53,793 | 53,793
At end of period | (12,627) | (12,627)