| Verrex Limited |
| Notes to the Accounts |
| for the year ended 31 December 2025 |
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| 1 |
Statutory information |
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Verrex Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be fouind on the Company Information page. |
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| 2 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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Turnover |
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Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can by reliable measured.
Turnover 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 turnover is recognised:
Turnover 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 turnover 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 cost incurred and the costs to complete the contract can be measured reliably. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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Taxation for the year 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 balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
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Critical accounting judgements and key sources of estimation uncertainty |
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Management has not made any significant judgements in the process of applying the accounting policies and there are no areas of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Foreign currency translation |
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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. |
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Going concern |
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The financial statements are prepared on a going concern basis. The Directors have considered the working capital requirements for a period of 12 months from the date of this report. As a consequence, the Directors believe that the company is well placed to manage its business risks successfully despite the current uncertain econimic outlook. After making enquiries, the Directors have a reasonable expectation that the company has adequate resources, together with support from its parent entity, to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. |
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Leased assets |
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A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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| 3 |
Audit information |
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The audit report is unqualified. |
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Senior statutory auditor: |
John Hegney(FCCA) |
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Firm: |
JHHP Limited |
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Date of audit report: |
11 August 2026 |
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| 4 |
Employees |
2025 |
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2024 |
| Number |
Number |
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Average number of persons employed by the company |
1 |
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1 |
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| 5 |
Debtors |
2025 |
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2024 |
| £ |
£ |
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Trade debtors |
14,710 |
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29,242 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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1,669,613 |
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1,687,700 |
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Deferred tax asset |
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4,755 |
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4,755 |
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Prepayments |
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1,836 |
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2,507 |
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Other debtors |
21,481 |
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64,983 |
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1,712,395 |
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1,789,187 |
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| 6 |
Creditors: amounts falling due within one year |
2025 |
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2024 |
| £ |
£ |
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Bank loans and overdrafts |
- |
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5,701 |
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Trade creditors |
26,459 |
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33,063 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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81,227 |
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81,228 |
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Taxation and social security costs |
- |
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15,641 |
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Other creditors |
28,571 |
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8,850 |
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136,257 |
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144,483 |
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| 7 |
Controlling party |
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The company is wholly owned and controlled by its immediate and ultimate parent company, Verrex LLC, a company registered in the USA. |
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| 8 |
Share Capital |
2025 |
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2024 |
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Allotted, issued and fully paid: |
£ |
£ |
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Number: |
Nominal value: |
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100 |
Ordinary |
£ 1.00 |
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100 |
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100 |
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100 |
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100 |
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| 9 |
Other information |
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Verrex Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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3 Laureates Close |
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Great Barr |
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Birmingham |
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B43 6AY |