REGISTERED NUMBER: SC394416 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2024 TO 31 MARCH 2025

FOR

VIDATEC LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

R J Wilson

SECRETARY:

I S R Baird

REGISTERED OFFICE:

Suite 8

10 Newton Place

Glasgow

Scotland

G3 7PR

REGISTERED NUMBER:

SC394416 (Scotland)

ACCOUNTANTS:

Thomas Barrie & Co LLP

Atlantic House

1a Cadogan Street

Glasgow

G2 6QE

FIXED ASSETS

Intangible assets

4

7,107

8,881

Tangible assets

5

594

8,028

7,701

16,909

CURRENT ASSETS

Debtors

6

302,291

263,330

Cash at bank and in hand

17,802

122,488

320,093

385,818

CREDITORS

Amounts falling due within one year

7

(279,631

)

(272,573

)

NET CURRENT ASSETS

40,462

113,245

TOTAL ASSETS LESS CURRENT LIABILITIES

48,163

130,154

CAPITAL AND RESERVES

Called up share capital

20

20

Capital contribution reserve

162,537

162,537

Retained earnings

(114,394

)

(32,403

)

48,163

130,154

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 December 2025 and were signed by:

R J Wilson - Director

1.	STATUTORY INFORMATION

Vidatec Ltd is a private company, limited by shares, registered in Scotland, registration number SC394416. The registered office is Suite 8, 10 Newton Place, Glasgow, Scotland, G3 7PR.

The principal activities of the Company during the year were web and mobile application software

development.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentational and functional currency of the financial statements is Pounds Sterling (£).

Significant judgements and estimates

In preparing these financial statements, the director is required to make judgements, estimates and assumptions that affect the application of the Company's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.

There are no significant judgements or estimates used in the preparation of these accounts.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Income from the sale of goods is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer;

- the Company retains neither continuing managerial involvement to the degree usually

associated with ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Income from a contract to provide services is recognised 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:

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured

reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible

assets are measured at cost less any accumulated amortisation and any accumulated impairment

losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life

cannot be made, the useful life shall not exceed ten years.

Intellectual property, trademarks and customer relationships

Separately acquired intellectual property, trademarks and customer relationships are shown at historical cost. Intellectual property, trademarks and customer relationships acquired in a business

combination are recognised at fair value at the acquisition date. Intellectual property, trademarks

and customer relationships have a finite useful economic life and are carried at cost less

accumulated amortisation. Amortisation is calculated using the straight-line method over the

expected life which has been assessed as up to ten years except intellectual property and

trademarks when useful life can otherwise be reliably measured.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

Straight line over 3 years

The carrying values of tangible fixed assets are reviewed annually for impairment if events or changes in circumstances indicate the carrying values may not be recoverable.

Financial instruments

The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances, including bank overdrafts that are payable on demand and form an integral part of the company's cash management.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions

Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 15 (2023 - 24 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 March 2025

184,392

AMORTISATION

At 1 January 2024

175,511

Charge for period

1,774

At 31 March 2025

177,285

NET BOOK VALUE

At 31 March 2025

7,107

At 31 December 2023

8,881

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 March 2025

21,439

DEPRECIATION

At 1 January 2024

13,411

Charge for period

7,434

At 31 March 2025

20,845

NET BOOK VALUE

At 31 March 2025

594

At 31 December 2023

8,028

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

£

Trade debtors

190,017

195,874

Amounts owed by group undertakings

77,587

-

Other debtors

34,687

67,456

302,291

263,330

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

£

Trade creditors

14,661

31,073

Taxation and social security

150,907

111,029

Other creditors

114,063

130,471

279,631

272,573

8.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Vidatec Holdings 2024 Ltd, registered office address at Suite 8 10 Newton Place, Glasgow, Scotland, G3 7PR.

The ultimate controlling partry is considered to be Mr R Wilson by virtue of his shareholding in Vidatec Holdings 2024 Ltd.