Vistech Services Limited 31/03/2025 iXBRL

Company registration number: 07356057

Vistech Services Limited

Unaudited filleted financial statements

31 March 2025

Vistech Services Limited

Contents

Balance sheet

Notes to the financial statements

Vistech Services Limited

Balance sheet

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	6	60,868		62,346
Tangible assets	7	108,079		65,423
		_______		_______
			168,947		127,769

Current assets
Debtors	8	1,408,685		1,426,273
Cash at bank and in hand		4,647		47,488
		_______		_______
		1,413,332		1,473,761
Creditors: amounts falling due
within one year	9	( 1,260,710)		( 1,221,407)
		_______		_______
Net current assets			152,622		252,354
			_______		_______
Total assets less current liabilities			321,569		380,123

Creditors: amounts falling due
after more than one year	10		( 74,483)		( 104,375)

Provisions for liabilities			( 22,376)		( 12,352)

			_______		_______
Net assets			224,710		263,396
			_______		_______

Capital and reserves
Called up share capital			10		10
Profit and loss account			224,699		263,386
			_______		_______
Shareholders funds			224,709		263,396
			_______		_______

For the 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.

Directors 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 directors acknowledge their responsibilities for complying with the requirements of the Act 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 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 Profit and loss account has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 09 December 2025 , and are signed on behalf of the board by:

Mr C J M Taylor Mr P Heeran

Director Director

Company registration number: 07356057

Vistech Services Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Boho Six Offices, 5 Linthorpe Road, Middlesbrough, TS1 1RE.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.

Turnover

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.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Patents, trademarks and licences	-	20 %	straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Research and development

Research expenditure is written off in the year in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.

Tangible assets

tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:


Plant and machinery	-	33 %	straight line
Fittings fixtures and equipment	-	15 %	straight line
Computer equipment	-	15 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual model and the performance model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 236 (2024: 202 ).

5. Profit before taxation

Profit before taxation is stated after charging/(crediting):

	2025	2024
	£	£
Amortisation of intangible assets	14,054	12,081
Depreciation of tangible assets	22,754	18,271
	_______	_______

6. Intangible assets

	Goodwill	Other intangible assets	Total
	£	£	£
Cost
At 1 April 2024	69,640	25,583	95,223
Additions	-	12,576	12,576
	_______	_______	_______
At 31 March 2025	69,640	38,159	107,799
	_______	_______	_______
Amortisation
At 1 April 2024	18,570	14,307	32,877
Charge for the year	9,285	4,769	14,054
	_______	_______	_______
At 31 March 2025	27,855	19,076	46,931
	_______	_______	_______
Carrying amount
At 31 March 2025	41,785	19,083	60,868
	_______	_______	_______
At 31 March 2024	51,070	11,276	62,346
	_______	_______	_______

7. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Computer Equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024	347,984	52,986	19,090	25,843	445,903
Additions	51,226	164	6,500	7,520	65,410
	_______	_______	_______	_______	_______
At 31 March 2025	399,210	53,150	25,590	33,363	511,313
	_______	_______	_______	_______	_______
Depreciation
At 1 April 2024	328,423	24,808	10,245	17,004	380,480
Charge for the year	9,361	6,581	4,039	2,773	22,754
	_______	_______	_______	_______	_______
At 31 March 2025	337,784	31,389	14,284	19,777	403,234
	_______	_______	_______	_______	_______
Carrying amount
At 31 March 2025	61,426	21,761	11,306	13,586	108,079
	_______	_______	_______	_______	_______
At 31 March 2024	19,561	28,178	8,845	8,839	65,423
	_______	_______	_______	_______	_______

8. Debtors

	2025	2024
	£	£
Trade debtors	1,220,493	1,066,644
Other debtors	188,192	359,629
	_______	_______
	1,408,685	1,426,273
	_______	_______

Included within trade debtors are factored debts of £1,058,801 (2024: £833,628).

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	38,250	37,500
Trade creditors	2,217	87,577
Corporation tax	7,752	20,194
Social security and other taxes	269,575	323,048
Other creditors	942,916	753,088
	_______	_______
	1,260,710	1,221,407
	_______	_______

Also within other creditors is £691,944 (2024 : £499,776) representing advances from a debt factor. The debt factor is secured by a first charge over factored debts .

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

	2025	2024
	£	£
Bank loans and overdrafts	74,483	104,375
	_______	_______

11. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2025
		Balance brought forward	Advances /(credits) to the directors	Balance o/standing
		£	£	£
	Mr C J M Taylor	261,319	( 185,669)	75,650
		_______	_______	_______

2024
		Balance brought forward	Advances /(credits) to the directors	Balance o/standing
		£	£	£
	Mr C J M Taylor	388,694	( 127,375)	261,319
		_______	_______	_______