REGISTERED NUMBER: 05262551 (England and Wales)

VESP ARCHITECTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr E W Sheryn

Ms F van Ellen

Mr I J Phillips

SECRETARY:

Ms F van Ellen

REGISTERED OFFICE:

2 Dolbeare Meadow

Ashburton

Devon

TQ13 7FL

REGISTERED NUMBER:

05262551 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chartered Accountants

7 Sandy Court

Ashleigh Way

Langage Business Park

Plymouth

Devon

PL7 5JX

FIXED ASSETS

Intangible assets

5

3,609

6,464

Tangible assets

6

42,644

48,354

46,253

54,818

CURRENT ASSETS

Stocks

18,750

12,750

Debtors

407,447

193,820

Cash at bank and in hand

162,204

306,898

588,401

513,468

CREDITORS

Amounts falling due within one year

280,429

215,719

NET CURRENT ASSETS

307,972

297,749

TOTAL ASSETS LESS CURRENT LIABILITIES

354,225

352,567

CREDITORS

Amounts falling due after more than one year

-

3,544

PROVISIONS FOR LIABILITIES

11,000

12,000

CAPITAL AND RESERVES

Called up share capital

1,804

604

Retained earnings

341,421

336,419

343,225

337,023

354,225

352,567

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

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

The directors acknowledge their 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 October 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 20 July 2026 and were signed on its behalf by:

Mr E W Sheryn - Director

1.	STATUTORY INFORMATION

VESP Architects 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

The financial statements have been prepared under the historical cost convention.

The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The director considers that there are no critical estimates used in the accounts preparation, as entries are backed up to subsequent supporting transactions

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, Fittings & Equipment

15% Reducing Balance

Computer Equipment

15% Reducing Balance

Bikes

15% Reducing Balance and straight line over 3 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss.

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term 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.

Stocks

Stock in the accounts is Work in progress. Work in progress is valued at the lower of cost and net realisable value, after making due allowances for irrecoverable time.

When Work in progress is invoiced, the carrying amount of this time is recognised as an expense in the period in which the related turnover is recognised. The amount of any write-down of time to net realisable value and all losses of time are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of time is recognised as a reduction in the amount of time recognised as an expense in the period in which the reversal occurs.

Taxation

Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only 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. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated 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.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

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.

At inception the Company assesses agreements that transfer the right to use assets. The assessment considers whether the arrangement is a finance lease or an operating lease based on the substances of the arrangement.

Finance leases

Leases of assets that transfer substantially all the risks and rewards of ownership to the Company are classified as finance leases.

Assets held under finance leases are recognized initially at the fair value of the leased asset (or, if lower, the present value of minimum lease payments) at the inception of the lease. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation. Lease payments are apportioned between finance charges and reduction of the lease obligation using the effective interest method so as to achieve a constant rate of interest on the remaining balance of the liability. Finance charges are deducted in measuring profit or loss.

Assets held under finance leases are included in tangible fixed assets and depreciated over the shorter of the lease term and the estimated useful life of the asset. Assets are assessed for impairment at each reporting date.

Operating leases

Leases that do no transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

Provisions for liabilities

Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance costs in profit or loss in the period it arises.

The Company recognises a provision for annual leave accrued by employees for services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months, measured at the salary costs payable for the period of absence.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2024 - 11 ) .

5.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2024

and 31 October 2025

14,274

AMORTISATION

At 1 November 2024

7,810

Amortisation for year

2,855

At 31 October 2025

10,665

NET BOOK VALUE

At 31 October 2025

3,609

At 31 October 2024

6,464

6.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2024

132,120

Additions

3,849

At 31 October 2025

135,969

DEPRECIATION

At 1 November 2024

83,766

Charge for year

9,559

At 31 October 2025

93,325

NET BOOK VALUE

At 31 October 2025

42,644

At 31 October 2024

48,354

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

Totals

£

COST

At 1 November 2024

and 31 October 2025

31,435

DEPRECIATION

At 1 November 2024

8,723

Charge for year

3,407

At 31 October 2025

12,130

NET BOOK VALUE

At 31 October 2025

19,305

At 31 October 2024

22,712

7.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

4,065

11,326

Between one and five years

-

3,544

4,065

14,870

Non-cancellable

operating leases

2025

2024

£

£

Within one year

9,831

5,246

Between one and five years

1,646

-

11,477

5,246

8.	SECURED DEBTS

National Westminster Bank PLC has a fixed and floating charge over all the property and undertakings of the company, in relation to a group level facility. This contains a negative pledge. The property is held in a company under connected ownership.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end, one of the Directors has an overdrawn loan account of £2,071. This contained a opening balance of £1,751 and amounts advanced of £320.

This balance has been repaid within 9 months following the year end.

10.	ULTIMATE CONTROLLING PARTY

VESP Architects Limited is a wholly owned subsidiary of VESP Group Holdings Limited, the ultimate parent undertaking, which is a limited company registered the UK.

Copies of the financial statements for VESP Group Holdings Limited are available from Companies House and the registered office is 2 Dolbeare Meadow, Asburton, Newton Abbot, TQ13 7FL.

There is no ultimate controlling party by virtue of the shareholdings in place.