Company No: 02090000 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Investments	3	3,301		3,301
		3,301		3,301
Current assets
Debtors	4	79,881		170,468
Cash at bank and in hand		3,972		3,078
		83,853		173,546
Creditors: amounts falling due within one year	5	( 2,880)		( 153,178)
Net current assets		80,973		20,368
Total assets less current liabilities		84,274		23,669
Net assets		84,274		23,669
Capital and reserves	6
Called-up share capital		23,255		23,255
Profit and loss account		61,019		414
Total shareholders' funds		84,274		23,669

For the financial year ending 28 February 2026 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 financial year in accordance with section 476; and
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
• The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

The financial statements of VTSL Global Holdings Limited (registered number: 02090000) were approved and authorised for issue by the Board of Directors on 23 August 2026. They were signed on its behalf by:

Mr D J Walton Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

VTSL Global Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 5 Nickols Walk, London, SW18 1BZ, United Kingdom.

The principal activities are set out in the Directors' Report.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Financial Reporting Standard 102 (FRS 102) applicable in the UK and Republic of Ireland issued by the Financial Reporting Council and the requirements of the Companies Act 2006.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Employee benefits

Short term 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 as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a longterm interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

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 creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Staff number and costs

	2026		2025
	Number		Number
The average monthly number of employees (including directors) was:	2		2

3. Fixed asset investments

	2026		2025
	£		£
Subsidiary undertakings	3,301		3,301

4. Debtors

	2026		2025
	£		£
Amounts owed by Group undertakings (note 7)	79,881		0
Amounts owed by directors (note 7)	0		170,468
	79,881		170,468

5. Creditors: amounts falling due within one year

	2026		2025
	£		£
Directors loans (note 7)	18		0
Trade creditors	0		2,112
Amounts owed to fellow subsidiaries (note 7)	0		148,333
Accruals	2,862		2,688
Other creditors	0		45
	2,880		153,178

6. Called-up share capital and reserves

	2026		2025
	£		£
Allotted, called-up and fully-paid
200 A 1 ordinary shares of £ 1.00 each	200		200
300 B 1 ordinary shares of £ 1.00 each	300		300
19,500 C 1 ordinary shares of £ 1.00 each	19,500		19,500
3,255 D 1 ordinary shares of £ 1.00 each	3,255		3,255
	23,255		23,255
Presented as follows:
Called-up share capital presented as equity	23,255		23,255

The Company's other reserves are as follows:

The profit and loss reserve represents cumulative profits or losses, net of dividends paid and other adjustments.

7. Related party transactions

VTSL Limited

A wholly owned subsidiary of VTSL Global Holdings Limited

During the year VTSL Limited paid costs on behalf of VTSL Global Holdings Limited totalling £786 (2025 - £714). At the balance sheet the amount due from VTSL Limited was £79,881 (2025 -VTSL Ltd owed £148,333).

8. Interest receivable and similar income

Interest receivable and similar income includes the following:

	2026		2025
	£		£
Income from shares in group undertakings	585,000		291,000

9. Directors' transactions

Dividends totalling £521,663 (2025 - £288,000) were paid in the year in respect of shares held by the company's directors.

Mr D Walton

As at 28 February 2026, VTSL Global Holding Ltd owed Mr. D Walton £6 (2025: £nil). This amount is interest free and repayable upon demand.

As at 28 February 2026, Mr. D Walton owed VTSL Global Holding Ltd £nil (2025: £85,114). This amount is unsecured, repayable upon demand and has interest charged at 3.75% p.a.

Mr R Walton

As at 28 February 2026, VTSL Global Holding Ltd owed Mr. R Walton £12 (2025: £nil). This amount is interest free and repayable upon demand.

As at 28 February 2026, Mr. R Walton owed VTSL Global Holding Ltd £nil (2025 - £85,354). This amount is unsecured, repayable upon demand and has interest charged at 3.75% p.a.