REGISTERED NUMBER: 05413070 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

VSL NETWORKS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S M Auld

Ms D A Auld

SECRETARY:

Ms D A Auld

REGISTERED OFFICE:

Unit 6, Martinfield Business

Centre, Martinfield

Welwyn Garden City

AL7 1HG

REGISTERED NUMBER:

05413070 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

94,599

107,365

94,599

107,365

CURRENT ASSETS

Stocks

48,037

63,898

Debtors

6

444,828

753,597

Cash at bank

200,367

164,722

693,232

982,217

CREDITORS

Amounts falling due within one year

7

595,129

812,669

NET CURRENT ASSETS

98,103

169,548

TOTAL ASSETS LESS CURRENT LIABILITIES

192,702

276,913

CREDITORS

Amounts falling due after more than one year

8

(153,579

)

(238,804

)

PROVISIONS FOR LIABILITIES

(19,865

)

(16,966

)

NET ASSETS

19,258

21,143

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

19,158

21,043

SHAREHOLDERS' FUNDS

19,258

21,143

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 1 September 2026 and were signed on its behalf by:

Mr S M Auld - Director

1.	STATUTORY INFORMATION

VSL Networks Ltd 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.

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.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

33% on reducing balance

Motor vehicles

-

12.5% on reducing balance

Computer equipment

-

Straight line over 3 years

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 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.

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 12 (2024 - NIL ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2025

and 31 December 2025

260,000

AMORTISATION

At 1 January 2025

and 31 December 2025

260,000

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2025

2,752

135,158

34,108

172,018

Additions

-

-

1,581

1,581

Disposals

-

-

(31,203

)

(31,203

)

At 31 December 2025

2,752

135,158

4,486

142,396

DEPRECIATION

At 1 January 2025

2,750

29,117

32,786

64,653

Charge for year

2

13,256

1,089

14,347

Eliminated on disposal

-

-

(31,203

)

(31,203

)

At 31 December 2025

2,752

42,373

2,672

47,797

NET BOOK VALUE

At 31 December 2025

-

92,785

1,814

94,599

At 31 December 2024

2

106,041

1,322

107,365

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

Motor

vehicles

£

COST

At 1 January 2025

and 31 December 2025

106,970

DEPRECIATION

At 1 January 2025

22,286

Charge for year

10,586

At 31 December 2025

32,872

NET BOOK VALUE

At 31 December 2025

74,098

At 31 December 2024

84,684

6.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

68,045

389,553

Amounts owed by group undertakings

125,150

113,319

Other debtors

2,500

-

Prepayments

136,609

116,932

332,304

619,804

2025

2024

£

£

Amounts falling due after more than one year:

Prepayments

112,524

133,793

Aggregate amounts

444,828

753,597

Included within trade debtors is an amount of £1,504 owed by Home and Business Charging Ltd, a company owned by D Auld and S Auld, directors of VSL Networks Ltd.

There are also amounts of £3,694 and £92 owed by Rivco Ltd and Element Brand Group of Companies Ltd, companies in which S Auld is a director.

Included within other debtors is a loan of £2,500 given to Office Ideas Ltd, a company in which D Auld and S Auld are directors.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

29,166

50,000

Hire purchase contracts

49,230

14,436

Trade creditors

248,146

455,833

Amounts owed to group undertakings

18,100

121,452

Tax

15,833

2,335

Social security and other taxes

13,530

-

VAT

45,079

12,441

Other creditors

8,637

-

Accruals

2,500

-

Deferred income

164,908

156,172

595,129

812,669

Included within trade creditors is an amount of £1,332 owed to Home and Business Charging Ltd, a company owned by D Auld and S Auld, directors of VSL Networks Ltd.

The hire purchase contract liability shown above includes £47,460 in final payments which were not exercised. The cars were returned to the leasing company in early 2026.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 2-5 years

-

29,166

Hire purchase contracts

-

43,014

Deferred income

153,579

166,624

153,579

238,804

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

10.	ULTIMATE CONTROLLING PARTY

VSL Networks Ltd is a wholly owned subsidiary of VSL Group Ltd.