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Registered number: 02843752
VECTOR INDUSTRIES LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2025
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VECTOR INDUSTRIES LIMITED
REGISTERED NUMBER: 02843752
BALANCE SHEET
AS AT 31 DECEMBER 2025
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Debtors: amounts falling due within one year
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Debtors due after more than 1 year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Capital redemption reserve
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with 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 by:
The notes on pages 3 to 13 form part of these financial statements.
Page 1
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VECTOR INDUSTRIES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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Capital redemption reserve
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Comprehensive income for the year
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Remeasurement of defined benefit pension scheme asset
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Total comprehensive income for the year
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Comprehensive income for the year
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Remeasurement of defined benefit pension scheme asset
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Total comprehensive income for the year
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The notes on pages 3 to 13 form part of these financial statements.
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Page 2
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VECTOR INDUSTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Vector Industries Limited is a private company limited by shares and is incorporated and registered in England. The Company's registered number is 02843752. The address of the registered office of the Company is 8-12 York Gate, London, NW1 4QG.
The principal activity of Vector Industries Limited during the year under review was that of a holding company.
2.Accounting policies
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Basis of preparation of financial statements
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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 disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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.
The financial statements have been presented in Pounds Sterling as this is the currency of the primary economic environment in which the Company operates, and are currently rounded to the nearest thousand pounds.
The following principal accounting policies have been applied:
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Exemption from preparing consolidated financial statements
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The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.
In assessing the going concern basis of preparation of these financial statements the directors have assessed the financial position and prospects of the companies to which the Company provides management services, in order to consider the availability of future cash inflows. Following this review, the directors are satisfied that the Company will have access to sufficient liquidity in order to meet it's liabilities as they fall due for a period of at least 12 months from the date of approval of these financial statements. Accordingly, these financial statements have been prepared on the going concern basis.
Turnover, which excludes value added tax, represents the invoiced value of management services and pension provided to other group companies and management services provided to third parties during the year. Turnover is recognised once the services have been performed.
Page 3
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VECTOR INDUSTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Interest receivable and similar income
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Interest income is recognised in the Statement of Comprehensive Income using the effective interest method.
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Interest payable and similar expenses
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Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Defined benefit pension plan
The Company operates a defined benefit plan which is closed to future accrual. A defined benefit plan defines the pension benefit that the employee will receive on retirement, usually dependent upon several factors including but not limited to age, length of service and remuneration. A defined benefit plan is a pension plan that is not a defined contribution plan.
The Company compares the fair present value of the assets of the defined benefit plan to the value of its obligations at the balance sheet date. If the value of the obligations of the plan is greater than the value of the assets from which those obligations are to be settled, this is recognised in the balance sheet of the Company as a liability. If the value of the obligations of the plan is less than the value of the assets of the plan, the Company does not recognise a corresponding asset within its balance sheet.
The defined benefit obligation is calculated using the projected unit credit method. Annually the Company engages independent actuaries to calculate the obligation. The present value is determined by discounting the estimated future payments using market yields on high quality corporate bonds that are denominated in sterling and that have terms approximating to the estimated period of the future payments ('discount rate').
The fair value of plan assets is measured in accordance with the FRS 102 fair value hierarchy and in accordance with the Company's policy for similarly held assets. This includes the use of appropriate valuation techniques. Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to other comprehensive income. These amounts together with the return on plan assets (net of scheme administration expenses), less amounts included in net interest, are disclosed as 'Remeasurement of net defined benefit liability'.
Page 4
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VECTOR INDUSTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The cost of the defined benefit plan, recognised in the Statement of Comprehensive Income as employee costs, except where included in the cost of an asset, comprises:
a) the increase in net pension benefit liability arising from employee service during the period; and
b) the cost of plan introductions, benefit changes, curtailments and settlements.
The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is recognised in the Statement of Comprehensive Income as a 'finance expense'.
As a result of the assumptions applied by the actuary, the actuarial valuation at the year-end has resulted in a surplus position for the scheme. The recognition of a surplus under FRS102 should only be made to the extent that an employer can expect to secure economic benefit from it, either by paying a reduced rate of contributions or taking a refund. It is not anticipated that the next actuarial valuation will result in a reduction to contributions and there is no option to take a refund, therefore the surplus has not been recognised in the financial statements.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
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.
Page 5
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VECTOR INDUSTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Investments in subsidiaries are measured at cost less accumulated impairment.
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.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Page 6
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VECTOR INDUSTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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The average monthly number of employees, including the directors, during the year was as follows:
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Page 7
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VECTOR INDUSTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Investments in subsidiary companies
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The following were subsidiary undertakings of the Company:
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Vector Engineering Products Limited
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8-12 York Gate, London, NW1 4QG
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Vector Building Products Limited *
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8-12 York Gate, London, NW1 4QG
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8-12 York Gate, London, NW1 4QG
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Vector Pension Trustees Limited
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8-12 York Gate, London, NW1 4QG
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*This company is held indirectly via Vector Engineering Products Limited.
**Vector Naco Limited is a wholly-owned subsidiary of Vector Building Products Limited.
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Page 8
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VECTOR INDUSTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Due after more than one year
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Amounts owed by group undertakings
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Prepayments and accrued income
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Amounts owed by group undertakings due after more than one year are unsecured, interest bearing at 7.25% per annum, (2024: 8%) and have no fixed date of repayment. The repayment terms on the amounts owed by group undertakings require a notice period of at least 12 months and 1 day when requesting payment of all or part of the amount owing.
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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Amounts owed to group undertakings
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Amounts owed to group undertakings are unsecured, interest bearing at 7.25% (2024: 8%) per annum and have no fixed repayment date. The repayment terms on the amounts owed to group undertakings require a notice period of at least 12 months and 1 day when requesting repayment of all or part of the amount owing.
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Page 9
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VECTOR INDUSTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Allotted, called up and fully paid
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16,410,800 (2024 - 16,410,800) Ordinary shares of £0.01 each
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The ordinary shares each entitle the holder to one voting right and no right to fixed income.
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Share premium account
This reserve represents the consideration received in exchange for issued shares, which is in excess of the nominal value of those shares.
Capital redemption reserve
This reserve represents the consideration paid by the Company for the repurchase of its own shares, which is in excess of the nominal value of the shares which have been repurchased.
Profit and loss account
This reserve represents the cumulative profits and losses of the Company.
Page 10
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VECTOR INDUSTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £13,860 (2024: £16,500).
Contributions totalling £1,452 (2024: £1,975) were payable to the fund at the balance sheet date.
The Company operates a defined benefit pension scheme.
The assets of the scheme are held in trustee-administered funds separate from the finances of the Company.
The trustees of the scheme are responsible for the operation and governance of the scheme, including making decisions regarding the scheme's funding and investment strategy. The scheme is closed to future accrual.
The latest full actuarial valuation of plan assets was produced as at 31 March 2022. The liabilities at the reporting date have been calculated by updating the results of the formal valuation for the assumptions as detailed in the disclosures below.
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Reconciliation of present value of plan liabilities:
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At the beginning of the year
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Reconciliation of present value of plan assets:
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At the beginning of the year
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Return on assets (excluding net interest expense)
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Page 11
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VECTOR INDUSTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
10.Pension commitments (continued)
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Composition of plan assets:
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Equity, property and hedge funds
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The amounts recognised in the Balance Sheet are as follows:
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Fair value of plan assets
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Present value of plan liabilities
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Derecognition of pension surplus
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Net pension scheme liability
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The net pension scheme surplus has not be recognised within the financial statements as it is not considered by the members to be recoverable since the scheme is closed to future accrual and no refunds are expected to be available.
The return on scheme assets was a gain of £2,615,000 (2024: loss of £4,917,000).
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The amounts recognised in profit or loss are as follows:
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Page 12
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VECTOR INDUSTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
10.Pension commitments (continued)
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Principal actuarial assumptions at the balance sheet date (expressed as weighted averages):
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Discount rate for scheme liabilities
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Rate of increase in salaries
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Rate of increase in pensions in payment/inflation
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Life expectancy at retirement age 65 (years):
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- at 65 for a male aged 45 now
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- for a female aged 65 now
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- at 65 for a female member aged 45 now
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Related party transactions
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The Company is exempt from disclosing related party transactions with other companies that are wholly owned within the Group.
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The immediate parent undertaking of the Company is Finance Holdings Limited, a company incorporated and registered in England.
The ultimate parent undertaking and controlling party of the Company is Rubicon Partners Industries LLP, a limited liability partnership registered in England.
The Rubicon Partners Industries LLP group is both the smallest and the largest group into which the financial statements of the company are consolidated. Copies of the group financial statements for the ultimate parent undertaking may be obtained from Rubicon Partners, 8-12 York Gate, London, NW1 4QG.
The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.
The audit report was signed on 21 September 2026 by James Bagley (Senior statutory auditor) on behalf of PKF Smith Cooper Audit Limited.
Page 13
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