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Registered number: 03752573 VEGA INDUSTRIES LIMITED DIRECTORS' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
VEGA INDUSTRIES LIMITED COMPANY INFORMATION
Directors | Himanshu Patel (appointed 22 October 2015)
| Vivek Singh Rathaur (appointed 9 September 2019)
| Bhadresh Shah (appointed 1 April 2003)
| Rizwan Gilani (appointed 22 October 2015)
| Paryank Ramesh Shah (appointed 30 September 2001)
Registered number | 03752573
Registered office | Suite 3 1st Floor Congress House
| 14 Lyon Road
| Harrow
| HA1 2EN
Independent auditors | Focus Somar Audit and Tax Accountants Limited
| Statutory Auditors & Chartered Certified Accountants
| Apex House
| Grand Arcade
| North Finchley
| London
| N12 0EH
Bankers | HSBC Bank Plc
| 184 High Street
| Bromley
| Kent
| BR1 1HE
| Citi Bank
| Citigroup Centre
| Canada Square
| Canada Wharf
| London
| E14 5LB
VEGA INDUSTRIES LIMITED CONTENTS
| Page
Directors' report | 3 - 4
Independent auditors' report | 5 - 8
Profit and loss account | 9
Statement of comprehensive income | 10
Balance sheet | 11
Statement of changes in equity | 12 - 13
Statement of cash flows | 14
Notes to the financial statements | 15 - 24
The directors present the strategic report for the year ended 31 March 2026.
Principle Activity
The principal activity of the company continued to be that of importing and distribution of grinding media, mining liners and hardware accessories.
Fair Review of the Business
The directors are satisfied with the results for the year bearing in mind the economic challenges of the current year. The company's parent undertaking is continually undertaking research and development to improve its product range.
. | Financial Key Performance indicators
|  | 2026 | 2025 | %
|  | £ | £ |
| Turnover | 363,622 | 525,449 | -30.80%
| Gross Profit % | 12.97% | 15.22% | -2.25%
| Net Profit after tax % | 3.01% | 3.54% | 0.70%
The turnover has decreased from £525.44K to £363.62K a decrease of 30.80%. Gross profit margins have decreased from 15.22% in 2025 to 12.97% in the year. Net profit before tax has decreased from £18,611 in 2025 to £15,408 in the year. The company's liquidity at 31 March 2026 has decreased compared with the previous year, with the current ratio of 3.90 (2025 : 6.00). The company's trade has improved in the year with strong financial position reflected in the company's balance sheet at the year end.
VEGA INDUSTRIES LIMITED STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026
Principal Risk and Uncertainties
The company faces a number of business risks and uncertainties due to prevailing challenging global market conditions. In view of this the directors are looking carefully at both existing and potential new markets. The principal risks and uncertainties facing Vega Industries Limited are:
Liquidity Risk
The company manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the company has sufficient liquid resources to meet the operating needs of the businesses.
Interest Rate Risk
The company is not exposed to cash flow interest rate risk on bank overdrafts and loans as it has no external bank borrowings. Excess funds are invested as appropriate to maximise interest income.
Foreign Currency Risk
The company’s principal foreign currency exposures arise from trading with overseas companies. The company is subject to foreign exchange risks as it sells and purchases in various countries and currencies. Group management regularly monitors its foreign exchange risk and attempts to limit such risks by managing its cash and credit positions.
Credit Risk
All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are reviewed on a regular basis and provision is made for doubtful debts where necessary.
Financial Instruments
The company operates a treasury function which is responsible for managing the liquidity, foreign exchange risks, and interest risks associated with the company's activities.
Brexit Risk
The company trades with entities based in the European Union and the exit therefrom poses a risk for the company. This is mitigated by the loyal customer and supplier base with which the company has traded with for a number of years. The group management is monitoring the situation and will respond to any changes that arise.
Section 172(1) statement Interest of members of the company
Vega Industries Limited is a private company and the parent of VEGA Industries Ltd (USA) till July end 2023. The ultimate parent company is AlA Engineering Limited, a company incorporated in India. The group has five directors and all have representation on the Board. The day-to-day operations of the group are managed by the directors who are closely involved in the activities of the group and provide day-to-day support as and when required. In common with many private companies the interests of the Board and the ultimate shareholders are broadly aligned in that the group should creates value by generating strong and sustainable results. Page 1
VEGA INDUSTRIES LIMITED STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026
Board Decision During the year
No dividend was voted in the year (2025:£NIL).
The interests of employees
We continue to focus on training and supporting our employees in the understanding that a well informed and trained workforce Is essential for the company’s ongoing success. We encourage feedback from our staff and where possible and practical implement suggestions made to improve our procedures and to improve our working environment. The average number of staff for the year was 11 (2025: 11) We consider that we offer our employees competitive remuneration packages.
The interests of our customers
Over the years we have acquired, developed and maintained unique relationships with our customers, and we do this by ensuring our prices remain competitive and deliveries maintained to a high standard and implement recommendations made by our customers. The success of this is highlighted by the loyalty shown by our customers over the years.
Community and Environment
The company recognizes the importance of climate change to society and has considered how to preserve the planet by aiming to minimise our carbon footprint. Part of this strategy is to work toward a paperless office, by reducing all printing internally as well as requesting that all external documentation is sent in electronic format only. Page 2
VEGA INDUSTRIES LIMITED DIRECTORS' REPORT FOR THE YEAR ENDED 31 MARCH 2026 The directors present their report and the financial statements for the year ended 31 March 2026.
Directors' responsibilities statement
The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the directors are required to: ∙select suitable accounting policies for the Company's financial statements and then apply them consistently; ∙make judgments and accounting estimates that are reasonable and prudent; ∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Directors
The directors who served during the year were:
Himanshu Patel (appointed 22 October 2015)
Vivek Singh Rathaur (appointed 9 September 2019)
Bhadresh Shah (appointed 1 April 2003)
Rizwan Gilani (appointed 22 October 2015)
Paryank Ramesh Shah (appointed 30 September 2001)
Disclosure of information to auditors
Each of the persons who are directors at the time when this Directors' report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information. Page 3
VEGA INDUSTRIES LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026
Auditors
The auditors, Focus Somar Audit and Tax Accountants Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. This report was approved by the board on 6 May 2026 and signed on its behalf.
Himanshu Patel Director
Page 4
VEGA INDUSTRIES LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VEGA INDUSTRIES LIMITED
Opinion
We have audited the financial statements of VEGA INDUSTRIES LIMITED (the 'Company') for the year ended 31 March 2026, which comprise the Profit and loss account, the Statement of comprehensive income, the Balance sheet, the Statement of cash flows, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: ∙give a true and fair view of the state of the Company's affairs as at 31 March 2026 and of its profit for the year then ended; ∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and ∙have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. Page 5
VEGA INDUSTRIES LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VEGA INDUSTRIES LIMITED (CONTINUED)
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Directors' report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or ∙the financial statements are not in agreement with the accounting records and returns; or ∙certain disclosures of directors' remuneration specified by law are not made; or ∙we have not received all the information and explanations we require for our audit; or ∙the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic report. Page 6
VEGA INDUSTRIES LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VEGA INDUSTRIES LIMITED (CONTINUED)
Responsibilities of directors
As explained more fully in the Directors' responsibilities statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Enquires of management, concerning the Company's policies and procedures relating to: Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance. Discussing among the engagement team regarding how and where fraud might occur in the financial statements and any potential indicator of fraud. In common with all audits under ISAs (UK) we are also requires to performspecific procedures to respond to the risk of management override . - Performed analytical procedures to identified unusual transaction. - Tested journal entries to identify unusual transactions. - We assess the risk of management override of controls, including testing journal entries and other adjustments or appropriateness and evaluating business rationale of significance transactions outside the normal course of business. - We obtained an understanding of the legal and regulatory frameworks that the Company operates in. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report. Page 7
VEGA INDUSTRIES LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VEGA INDUSTRIES LIMITED (CONTINUED)
Use of our report
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed. Krishna Prasad Dahal (Senior statutory auditor) for and on behalf of Focus Somar Audit and Tax Accountants Limited Statutory Auditors Chartered Certified Accountants Apex House Grand Arcade North Finchley London N12 0EH 7 May 2026 Page 8
VEGA INDUSTRIES LIMITED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2026
| 2026 | 2025
Note | £ | £
Turnover |  | 363,622 | 525,449
Cost of sales |  | (316,457) | (445,485)
Gross profit |  | 47,165 | 79,964
Administrative expenses |  | (32,235) | (65,388)
Other operating income |  | 478 | -
Operating profit |  | 15,408 | 14,576
Tax on profit | 7 | (4,476) | 4,035
Profit for the financial year |  | 10,932 | 18,611
The notes on pages 15 to 24 form part of these financial statements.
Page 9
VEGA INDUSTRIES LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2026
|  |  |  | 2026 | 2025
|  |  | Note | £ | £
Profit for the financial year |  | 10,932 | 18,611
Other comprehensive income |  |  |
Total comprehensive income for the year |  | 10,932 | 18,611
The notes on pages 15 to 24 form part of these financial statements.
Page 10
VEGA INDUSTRIES LIMITED REGISTERED NUMBER: 03752573 BALANCE SHEET AS AT 31 MARCH 2026
|  | 2026 |  | 2025
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 8 |  | 10,313 |  | 15,183
|  |  | 10,313 |  | 15,183
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 9 | 836,284 |  | 797,918 |
Cash at bank and in hand | 10 | 252,789 |  | 153,564 |
|  | 1,089,073 |  | 951,482 |
Creditors: amounts falling due within one year | 11 | (279,137) |  | (158,548) |
Net current assets |  |  | 809,936 |  | 792,934
Total assets less current liabilities |  |  | 820,249 |  | 808,117
Provisions for liabilities |  |  |  |  |
Deferred tax | 12 | (1,615) |  | (415) |
|  |  | (1,615) |  | (415)
Net assets |  |  | 818,634 |  | 807,702
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 10,000 |  | 10,000
Profit and loss account |  |  | 808,634 |  | 797,702
|  |  | 818,634 |  | 807,702
The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 May 2026.
Himanshu Patel
Director
The notes on pages 15 to 24 form part of these financial statements. Page 11
VEGA INDUSTRIES LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2026
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 April 2025 | 10,000 | 797,702 | 807,702
Profit for the year | - | 10,932 | 10,932
Total comprehensive income for the year | - | 10,932 | 10,932
At 31 March 2026 | 10,000 | 808,634 | 818,634
| The notes on pages 15 to 24 form part of these financial statements.
Page 12
VEGA INDUSTRIES LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2025
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 April 2024 | 10,000 | 779,091 | 789,091
Profit for the year | - | 18,611 | 18,611
Total comprehensive income for the year | - | 18,611 | 18,611
At 31 March 2025 | 10,000 | 797,702 | 807,702
| The notes on pages 15 to 24 form part of these financial statements.
Page 13
VEGA INDUSTRIES LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2026
|  |  | 2026 | 2025
|  |  | £ | £
Cash flows from operating activities |  |
Profit for the financial year | 10,932 | 18,611
Adjustments for: |  |
Depreciation of tangible assets | 2,870 | 3,394
Loss on disposal of tangible assets | 3,575 | -
Taxation charge | 4,476 | -
Decrease/(increase) in debtors | 9,708 | (105,804)
(Increase)/decrease in amounts owed by groups | (48,074) | 72,261
Increase/(decrease) in creditors | 81,672 | (91,664)
Increase in amounts owed to groups | 35,641 | 64,553
Increase/(decrease) in provisions | - | (4,035)
Net cash generated from operating activities | 100,800 | (42,684)
Cash flows from investing activities |  |
Purchase of tangible fixed assets | (1,575) | -
Net cash from investing activities | (1,575) | -
Net increase/(decrease) in cash and cash equivalents | 99,225 | (42,684)
Cash and cash equivalents at beginning of year | 153,564 | 196,248
Cash and cash equivalents at the end of year | 252,789 | 153,564
Cash and cash equivalents at the end of year comprise: |  |
Cash at bank and in hand | 252,789 | 153,564
| 252,789 | 153,564
The notes on pages 15 to 24 form part of these financial statements.
Page 14
VEGA INDUSTRIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
1. | Company information
Vega Industries Limited (‘the company') is a private limited company domiciled and incorporated in England and Wales.The registered office is Suite 3, 1st Floor, Congress House, 14 Lyon Road, Harrow, Middlesex, HA1 2EN. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3). The following principal accounting policies have been applied:
| 2.2 | Exemption on consolidation of its subsidiary
The financial statement presents information for Vega Industries Limited on an individual basis and does not include consolidated financial details for the group. According to section 400 of the Companies Act 2006, the company is exempt from the requirement to prepare consolidated financial statements, as it and its subsidiary are fully incorporated into the consolidated financial statements of its ultimate parent company, AIA Engineering Limited, located at 115 G.V.M.M Estate, Odhav Road, Odhav, Ahmedabad-382410, Gujarat, India.
| 2.3 | Revenue
Turnover comprises the fair value of sales excluding value added tax and trade discounts. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
| 2.4 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 15
VEGA INDUSTRIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 2.Accounting policies (continued)
| 2.4 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 20% | per annum on written down value
|  |  |  | Fixtures and fittings | - | 20% | per annum on written down value
|  |  |  | Computer equipment | - | 20% | per annum on written down value
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.5 | Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
| 2.6 | Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
| 2.7 | Equity Instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. Page 16
VEGA INDUSTRIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 2.Accounting policies (continued)
| 2.8 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.9 | Going concern
The financial statements have been prepared on the going concern basis, which assumes that the Company will continue in operational existence and meet its liabilities as they fall due for the foreseeable future. The directors have assessed the Company’s ability to continue as a going concern and have concluded that it is appropriate to prepare the financial statements on this basis. In making this assessment, the directors have considered the Company’s current financial position, forecast cash flows, working capital requirements and expected future trading performance for a period of at least twelve months from the date of approval of these financial statements. Based on this assessment, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and have not identified any material uncertainties related to events or conditions that may cast significant doubt upon the Company’s ability to continue as a going concern. Accordingly, the financial statements have been prepared on the going concern basis.
| 2.10 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset. Page 17
VEGA INDUSTRIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 2.Accounting policies (continued)
| 2.11 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation. Increases in provisions are generally charged as an expense to profit or loss.
| 2.12 | Employment Benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
| 2.13 | Retirement Benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources.The estimates and associated 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 In accounting estimates are recognised In the period in which the estimate is revised where the revision affects only that period, of in the period of the revision and future periods where the revision affects both current and future periods. In the directors view, there are no significant judgements or estimates made.
4. | Sales- Geographical Area
|  | 2026 | 2025
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VEGA INDUSTRIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
|  | £ | £
| Sales- UK | 308,056 | 472,441
| Sales-Europe | 1,591 | 6,047
| Sales-Rest of the World | 53,975 | 46,961
| Total Sales | 363,622 | 525,449
5. | Employees
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2026 | 2025
|  |  | No. | No.
|  | Average number of employees | 11 | 11
6. | Directors' remuneration
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Directors' emoluments | 87,187 | 78,631
|  | 87,187 | 78,631
7. | Taxation
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Corporation tax |  |
| Current tax on profits for the year | 3,276 | -
|  | 3,276 | -
| Total current tax | 3,276 | -
| Deferred tax |  |
| Origination and reversal of timing differences | 1,200 | (4,035)
| Total deferred tax | 1,200 | (4,035)
| Tax on profit | 4,476 | (4,035)
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VEGA INDUSTRIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 7.Taxation (continued)
| Factors affecting tax charge for the year
| The tax assessed for the year is the same as (2025 - the same as) the standard rate of corporation tax in the UK of 19% (2025 - 19%) as set out below:
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Profit on ordinary activities before tax | 15,408 | 14,576
| Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 19% (2025 - 19%) | 2,928 | 2,769
| Effects of: |  |
| Expenses not deductible for tax purposes, other than goodwill amortisation and impairment | 800 | -
| Capital allowances for year in excess of depreciation | 470 | -
| Short-term timing difference leading to an increase (decrease) in taxation | 1,199 | 875
| Unrelieved tax losses carried forward | (921) | (7,679)
| Total tax charge for the year | 4,476 | (4,035)
| Factors that may affect future tax charges
There are no such factor that any affect the future tax changes. Page 20
VEGA INDUSTRIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
8. | Tangible fixed assets
|  | Plant and machinery
|  | £
| Cost or valuation |
| At 1 April 2025 | 79,880
| Additions | 1,575
| Disposals | (34,036)
| At 31 March 2026 | 47,419
| Depreciation |
| At 1 April 2025 | 64,697
| Charge for the year on owned assets | 2,870
| Disposals | (30,461)
| At 31 March 2026 | 37,106
| Net book value |
| At 31 March 2026 | 10,313
| At 31 March 2025 | 15,183
9. | Debtors
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Amounts owed by group undertakings | 668,248 | 620,174
| Other debtors | 164,168 | 148,258
| Prepayments and accrued income | 3,868 | 29,486
|  | 836,284 | 797,918
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VEGA INDUSTRIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
10. | Cash and cash equivalents
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Cash at bank and in hand | 252,789 | 153,564
|  | 252,789 | 153,564
11. | Creditors: Amounts falling due within one year
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Amounts owed to group undertakings | 100,194 | 64,553
| Corporation tax | 3,276 | -
| Other taxation and social security | 34,336 | 22,420
| Other creditors | 90,845 | 16,452
| Accruals | 50,486 | 55,123
|  | 279,137 | 158,548
12. | Deferred taxation
|  | 2026
|  | £
| At beginning of year | (415)
| Charged to profit or loss | (1,200)
| At end of year | (1,615)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Tax losses carried forward | (1,615) | (415)
|  | (1,615) | (415)
|  | 2026 | 2025
|  | £ | £
Page 22
VEGA INDUSTRIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
| Retained Earning b/f | 797,702 | 779,091
| Profit/(loss) for during the year | 15,408 | 18,611
| Dividend paid during the year | - | -
| Total | 813,110 | 797,702
13. | Commitments under operating leases
| At 31 March 2026 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Not later than 1 year | - | 22,324
|  | - | 22,324
14. | Post balance sheet events
There have been no significant events affecting the Company since the year end.
15. | Related party transactions
| The amount owed by the immediate parent undertaking Vega Industries (Middle East) FZC at 31 March 2026 amounted to £668,248 (2025: £620,174) that includes £600,000 interest free loan payable on demand and is included under the amounts owed by the parent undertaking in note 9 to the financial statements. The amount owed to Vega Middle East (DFTZ) FZE at 31 March 2026 amounted to £18,876 (2025:£64,553) and Vega Industries (Middle East) FZC at 31 March 2026 amounted to £82,090 (2025:£NIL) is included in amount owed to the parent company in note 11 to the Financial statements. During the year , the company made purchase of £97,546 (2025:£365,915) from Vega Industries (Middle East) FZC and £212,854(2025:£69,568) from Vega Middle East (DFTZ) FZE and paid management Fee of £NIL (2025:£45,239) to Vega Industries (Middle East) FZC and recharged £859,699 (2025:£615,603) of staff costs, £193,177(2025:£346,341) of administrative expenses and £142,036 (2025:£137,609) of staff travel cost to Vega Industries (Middle East) FZC. During the year, the company has obtained Shipping and transport services of £13,933 (2025:£10,920) from Temon Logistics at 31 March 2026. AIA Engineering Limited has given multilateral guarantees to the company's bankers.
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VEGA INDUSTRIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
16. | Controlling party
The company's ultimate parent undertaking and the controlling party is AlA Engineering Limited, a company incorporated and registered in India. The smallest and largest group in which the results of Vega Industries Limited are consolidated is headed by AIA Engineering Limited. The consolidated financial statements are available to the public and may be obtained from 115,G.V.M.M. Estate. Odhav Road, Odhav, Ahmedabad - 382410, Gujarat, India.
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