Vertical Systems Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01741340 (England and Wales)

VERTICAL SYSTEMS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

P.L. Healey

D. Gardner

B. Rodger

REGISTERED OFFICE:

14 Hemmells

Laindon

Basildon

Essex

SS15 6ED

REGISTERED NUMBER:

01741340 (England and Wales)

INDEPENDENT AUDITORS:

CR Bland Baker Limited

Chartered Accountants and

Statutory Auditor

21 Lodge Lane

Grays

Essex

RM17 5RY

FIXED ASSETS

Tangible assets

4

174,365

128,540

Investments

5

100,000

Investment property

6

260,000

534,365

488,540

CURRENT ASSETS

Stocks

7

1,500

Debtors

8

1,250,749

1,294,714

Cash at bank and in hand

51,269

58,670

1,303,518

1,354,884

CREDITORS

Amounts falling due within one year

9

1,169,687

1,122,274

NET CURRENT ASSETS

133,831

232,610

TOTAL ASSETS LESS CURRENT
LIABILITIES

668,196

721,150

CREDITORS

Amounts falling due after more than one
year

10

55,374

116,667

NET ASSETS

612,822

604,483

CAPITAL AND RESERVES

Called up share capital

20,001

Share premium

443,999

Retained earnings

148,822

140,483

SHAREHOLDERS' FUNDS

612,822

604,483

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2025 and were signed on its behalf by:

P.L. Healey - Director

1.	STATUTORY INFORMATION

Vertical Systems Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated

useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property

2%

Plant and machinery

20%

Motor vehicles

25%

Fixtures and fittings

33%

Computer equipment

33%

Server

20%

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 year 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 year was 25 (2024 - 26 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 May 2024

207,943

778,656

986,599

Additions

-

59,191

At 30 April 2025

207,943

837,847

1,045,790

DEPRECIATION

At 1 May 2024

86,988

771,071

858,059

Charge for year

4,158

9,208

13,366

At 30 April 2025

91,146

780,279

871,425

NET BOOK VALUE

At 30 April 2025

116,797

57,568

174,365

At 30 April 2024

120,955

7,585

128,540

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

Additions

50,000

At 30 April 2025

50,000

DEPRECIATION

Charge for year

3,125

At 30 April 2025

3,125

NET BOOK VALUE

At 30 April 2025

46,875

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 May 2024

and 30 April 2025

100,000

NET BOOK VALUE

At 30 April 2025

100,000

At 30 April 2024

100,000

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2024

and 30 April 2025

260,000

NET BOOK VALUE

At 30 April 2025

260,000

At 30 April 2024

260,000

The 2025 valuation was made by the directors, on an open market value for existing use basis.

Fair value at 30 April 2025 is represented by:

£

Valuation in 2024

(42,940

)

Cost

302,940

260,000

7.

STOCKS

2025

2024

£

Finished goods

1,500

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

535,045

514,754

Amounts owed by group undertakings

632,120

697,390

Other debtors

83,584

82,570

1,250,749

1,294,714

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

100,000

Hire purchase contracts (see note 11)

6,861

-

Trade creditors

88,389

105,746

Amounts owed to group undertakings

819,810

730,774

Taxation and social security

104,552

90,100

Other creditors

50,075

95,654

1,169,687

1,122,274

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

2025

2024

£

Bank loans

16,667

116,667

Hire purchase contracts (see note 11)

38,707

-

55,374

116,667

11.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2025

2024

£

Gross obligations repayable:

Within one year

10,480

-

Between one and five years

48,962

-

59,442

-

Finance charges repayable:

Within one year

3,619

-

Between one and five years

10,255

-

13,874

-

Net obligations repayable:

Within one year

6,861

-

Between one and five years

38,707

-

45,568

-

The hire purchase liability is secured over the related asset.

12.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank loans

116,667

216,667

Hire purchase contracts

45,568

-

162,235

216,667

The company bankers have a fixed and floating charge over the assets of the company.

The hire purchase creditor is secured against the asset which was acquired under it.

13.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Steven James Garrod FCA (Senior Statutory Auditor)

for and on behalf of CR Bland Baker Limited

14.	RELATED PARTY DISCLOSURES

As the Company is a wholly owned subsidiary of Notsallow 134 Limited the Company has taken advantage of the exemption in FRS102 disclosure 33.1A and has therefore not disclosed transactions or balances with other wholly-owned subsidiaries which form part of the group headed by Vertical Group Limited. The consolidated financial statements, within which this company is included, can be obtained from 14 Hemmells, Laindon, Essex, SS15 6ED.

Transactions with companies not wholly owned by the group are as follows:

The Company made sales of £2,025 (2024: £1,954) to MI Telecom Limited and purchases of £8,519 (2024 - £23,577), a fellow subsidiary of Notsallow 134 Limited. As at 30 April 2025 the Company owed £35,949 (2024: £38,648) to MI Telecom Limited.

As at 30 April 2025 the Company owed Villas for Travel Limited, a fellow associate of Notsallow 134 Limited, £45,926 (2024: £45,926).

As at 30 April 2025 £1,242 was owed from the directors to the company. (2024 - £19 owed to the directors by the company) The balances represented unsecured, interest free loans, repayable on demand.

15.	ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking of this company as at the period ended 30 April 2025 was Vertical Group Limited which is incorporated in England and registered in England and Wales.

The immediate parent undertaking and controlling party is Notsallow 134 Limited which is incorporated and registered in England and Wales. The largest and smallest group of undertakings which include this company and for which consolidated accounts have been drawn up is that headed by Vertical Group Limited. The address where these accounts can be found is also the registered address of the parent company: 14 Hemmells, Laindon, Basildon, Essex, SS15 6ED.

The ultimate controlling party is P L Healey.