ACCOUNTS - Final Accounts

ACQUISITION OF AVONSIDE PUBLISHING LIMITED

On 19 December 2025, the company acquired 100% of the issued share capital of Avonside Publishing Limited. The acquisition has been accounted for using the acquisition method of accounting.

RECOGNISED AMOUNTS OF IDENTIFIABLE ASSETS ACQUIRED AND LIABILITIES ASSUMED

Book value

Fair value

Registered number: 05900471

VISTA STATIONERY & PRINT LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2026

VISTA STATIONERY & PRINT LIMITED

REGISTERED NUMBER:05900471

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 31 JANUARY 2026

		2026		2025
Note		£		£

Fixed assets
Intangible assets	6		1,158,862		468,235
Tangible assets	7		37,447		39,560
			1,196,309		507,795
Current assets
Stocks	9	44,000		3,183
Debtors: amounts falling due within one year	10	1,614,435		1,346,174
Cash at bank and in hand		1,719,781		1,249,987
		3,378,216		2,599,344
Creditors: amounts falling due within one year	11	(2,732,913)		(1,546,523)
Net current assets			645,303		1,052,821
Total assets less current liabilities			1,841,612		1,560,616
Creditors: amounts falling due after more than one year	12		(479,189)		(271,281)
Provisions for liabilities
Deferred tax		-		(3,231)
Net assets			1,362,423		1,286,104

Capital and reserves
Called up share capital	100	100
Profit and loss account	1,362,323	1,286,004
	1,362,423	1,286,104

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 consolidated statement of income and retained earnings 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:

G L Richmond

Director

Date: 30 September 2026

The notes on pages 4 to 16 form part of these financial statements.

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VISTA STATIONERY & PRINT LIMITED

REGISTERED NUMBER:05900471

COMPANY STATEMENT OF FINANCIAL POSITION

AS AT 31 JANUARY 2026

		2026		2025
Note		£		£

Fixed assets
Intangible assets	6		363,092		468,235
Tangible assets	7		28,692		39,560
Investments	8		1,379,226		1
			1,771,010		507,796
Current assets
Stocks	9	44,000		3,183
Debtors: amounts falling due within one year	10	1,168,459		1,194,407
Cash at bank and in hand		924,965		1,091,479
		2,137,424		2,289,069
Creditors: amounts falling due within one year	11	(2,248,139)		(1,333,628)
Net current (liabilities)/assets			(110,715)		955,441
Total assets less current liabilities			1,660,295		1,463,237

Creditors: amounts falling due after more than one year	12		(479,189)		(271,281)
Provisions for liabilities
Deferred taxation		-		(3,231)
Net assets			1,181,106		1,188,725

Capital and reserves
Called up share capital		100		100
Profit and loss account brought forward	1,188,625		1,139,962
Loss/(profit) for the year	(7,619)		48,663
Profit and loss account carried forward		1,181,006		1,188,625
		1,181,106		1,188,725

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VISTA STATIONERY & PRINT LIMITED

REGISTERED NUMBER:05900471

COMPANY STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 JANUARY 2026

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 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 consolidated statement of income and retained earnings 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:

G L Richmond

Director

Date: 30 September 2026

The notes on pages 4 to 16 form part of these financial statements.

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VISTA STATIONERY & PRINT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026


1.	COMPANY INFORMATION

Vista Stationery & Print Limited is a private company, limited by shares, incorporated in the United Kingdom with registered number 05900471. The registered office is Exe Box, Exeter, Devon, EX2 8FD.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The consolidated 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 Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of income and retained earnings in these financial statements.

The following principal accounting policies have been applied:

2.2

BASIS OF CONSOLIDATION

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of income and retained earnings from the date on which control is obtained. They are deconsolidated from the date control ceases.

2.3

GOING CONCERN

The directors have considered the market in which the Group operates and are confident that sufficient funding is available to ensure that the company has sufficient cash for at least twelve months from the date hereof. In light of this, the directors consider it appropriate for the financial statements to be prepared on the going concern basis.

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VISTA STATIONERY & PRINT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.ACCOUNTING POLICIES (CONTINUED)

2.4

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Group has transferred the significant risks and rewards of ownership to the buyer;

∙the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Group will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.5

INTANGIBLE ASSETS

GOODWILL

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated statement of income and retained earnings over its useful economic life of 10 years.

OTHER INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

				Goodwill	-	10	years
				Intellectual property	-	5	years

2.6

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.

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VISTA STATIONERY & PRINT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.ACCOUNTING POLICIES (CONTINUED)

2.6

TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is provided on the following basis:

Short-term leasehold property	-	Over the length of the lease
Office equipment	-	33-50% straight line
Computer equipment	-	3 years straight line

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 within 'administrative expenses' in the Statement of income and retained earnings.

2.7

OPERATING LEASES: THE GROUP 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.

2.8

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

2.9

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.10

DEBTORS

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.

2.11

CASH AND CASH EQUIVALENTS

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.

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VISTA STATIONERY & PRINT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.ACCOUNTING POLICIES (CONTINUED)

2.12

CREDITORS

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.

2.13

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The group's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

2.14

FINANCE COSTS

Finance costs are charged to profit or loss 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.

2.15

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group 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 Statement of financial position. The assets of the plan are held separately from the Group in independently administered funds.

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VISTA STATIONERY & PRINT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

2.ACCOUNTING POLICIES (CONTINUED)

2.16

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 reporting date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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;

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and

∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

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 reporting date.

3.	JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Key Accounting Estimates and Assumptions

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

Included within creditors is a provision for returns for calendars unsold at the year end. Due to the degree of uncertainty at the year end this is considered a key accounting estimate.

4.	AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 January 2026 was unqualified.

The audit report was signed on 1 October 2026 by Mark Munro BA FCA (Senior statutory auditor) on behalf of Bishop Fleming Audit Limited.

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VISTA STATIONERY & PRINT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

EMPLOYEES

The average monthly number of employees, including directors, during the year was 35 (2025: 37).

6.	INTANGIBLE ASSETS
	Group

	Patents	Goodwill	Total
	£	£	£
COST
At 1 February 2025	550,865	303,730	854,595
Additions	6,036	-	6,036
On acquisition of subsidiaries	-	805,256	805,256
At 31 January 2026	556,901	1,108,986	1,665,887
AMORTISATION
At 1 February 2025	82,630	303,730	386,360
Charge for the year on owned assets	111,179	9,486	120,665
At 31 January 2026	193,809	313,216	507,025
NET BOOK VALUE
At 31 January 2026	363,092	795,770	1,158,862
At 31 January 2025	468,235	-	468,235

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VISTA STATIONERY & PRINT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

6.INTANGIBLE ASSETS (CONTINUED)

	Company

	Patents	Goodwill	Total
	£	£	£
COST
At 1 February 2025	550,865	303,730	854,595
Additions	6,036	-	6,036
At 31 January 2026	556,901	303,730	860,631
AMORTISATION
At 1 February 2025	82,630	303,730	386,360
Charge for the year	111,179	-	111,179
At 31 January 2026	193,809	303,730	497,539
NET BOOK VALUE
At 31 January 2026	363,092	-	363,092
At 31 January 2025	468,235	-	468,235

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VISTA STATIONERY & PRINT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

7.	TANGIBLE FIXED ASSETS
	Group and Company

	Short-term leasehold property	Office equipment	Computer software	Total
	£	£	£	£
COST OR VALUATION
At 1 February 2025	45,082	219,020	209,469	473,571
Additions	-	7,689	858	8,547
Acquisition of subsidiary	-	8,755	-	8,755
At 31 January 2026	45,082	235,464	210,327	490,873
DEPRECIATION
At 1 February 2025	33,688	205,365	194,958	434,011
Charge for the year on owned assets	3,687	8,130	7,598	19,415
At 31 January 2026	37,375	213,495	202,556	453,426
NET BOOK VALUE
At 31 January 2026	7,707	21,969	7,771	37,447
At 31 January 2025	11,394	13,655	14,511	39,560

8.	FIXED ASSET INVESTMENTS

	Company

		Investments in subsidiary companies
		£
	COST OR VALUATION
	At 1 February 2025	1
	Additions	1,379,225
	At 31 January 2026	1,379,226

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VISTA STATIONERY & PRINT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

SUBSIDIARY UNDERTAKINGS
The following were subsidiary undertakings of the Company:
Name	Registered office	Class of shares	Holding

	Carousel WorldWide Inc	National Registered Agents, Inc, 1209 Orange Street, City of Wilmington, County of New Castle, State of Delaware 19801	Ordinary	100%
	Avonside Publishing Limited	Exe Box, Matford Park Road, Matford, Exeter, Devon, United Kingdom, EX2 8FD	Ordinary	100%

9.	STOCKS
		Group	Group	Company	Company
		2026	2025	2026	2025
		£	£	£	£

	Raw materials	44,000	3,183	44,000	3,183

10.

DEBTORS

Group	Group	Company	Company
2026	2025	2026	2025
£	£	£	£


Trade debtors	1,124,195	619,782	305,644	350,269
Amounts owed by group undertakings	-	211,151	429,760	336,531
Other debtors	51,866	132,879	48,036	125,245
Prepayments and accrued income	422,224	382,362	368,869	382,362
Deferred taxation	16,150	-	16,150	-
	1,614,435	1,346,174	1,168,459	1,194,407

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VISTA STATIONERY & PRINT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

11.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		Group	Group	Company	Company
		2026	2025	2026	2025
		£	£	£	£

Other loans	495,327	-	487,325	-
Trade creditors	331,551	256,544	303,091	248,818
Returns provision	299,232	623,701	209,514	514,505
Amounts owed to group undertakings	50,627	-	303,505	-
Deferred consideration	169,566	-	169,566	-
Corporation tax	14,086	54,537	11,552	22,076
Other taxation and social security	657,793	29,776	143,827	29,776
Other creditors	217,030	232,933	217,031	232,934
Accruals and deferred income	497,701	349,032	402,728	285,519
	2,732,913	1,546,523	2,248,139	1,333,628

12.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
		Group	Group	Company	Company
		2026	2025	2026	2025
		£	£	£	£

Deferred consideration	339,130	-	339,130	-
Other creditors	140,059	271,281	140,059	271,281
	479,189	271,281	479,189	271,281

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VISTA STATIONERY & PRINT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

13.	BUSINESS COMBINATIONS

FIXED ASSETS
Tangible	8,755	8,755
	8,755	8,755
CURRENT ASSETS
Debtors	655,228	655,228
Cash at bank and in hand	516,849	516,849
TOTAL ASSETS	1,180,832	1,180,832
CREDITORS
Due within one year	(606,862)	(606,862)
TOTAL IDENTIFIABLE NET ASSETS	573,970	573,970


	Goodwill	805,256
	TOTAL PURCHASE CONSIDERATION	1,379,226

	CONSIDERATION
					£


	Cash	831,500
	Deferred consideration	508,696
	Directly attributable costs	39,030
	TOTAL PURCHASE CONSIDERATION	1,379,226

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VISTA STATIONERY & PRINT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

13.BUSINESS COMBINATIONS (CONTINUED)

	The results of AVONSIDE PUBLISHING LIMITED since acquisition are as follows:
				Current period since acquisition
				£

	Turnover	247,008
	Operating profit	91,468

14.	COMMITMENTS UNDER OPERATING LEASES
	At 31 January 2026 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
		Group	Group	Company	Company
		2026	2025	2026	2025
		£	£	£	£

Not later than 1 year	915	10,464	915	10,464
Later than 1 year and not later than 5 years	-	915	-	915
	915	11,379	915	11,379

15.

RELATED PARTY TRANSACTIONS

Key Management Personnel

All personnel who have authority and responsibility for planning, directing and controlling the activities of the group are considered to be key management personnel. The cost incurred by the company in respect of these individuals was £119,450 (2025: £115,716).

Parent Company

During the year the company purchased services from its parent amounting to £Nil (2025: £68,216).

Other Group Undertakings

During the year the company entered into transactions with other group undertakings. These transactions consisted of sales of £3,600,866 (2025: £3,853,385) and recharges received of £797,878 (2025: £805,660). At the year end the company was owed £Nil (2025: £211,151).

Entities With Significant Influence

During the year, the company made sales of £548,858 (2025: £446,958) and purchases of £703,902 (2025: £778,129) to entities with significant influence.

Subsidiary Companies

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VISTA STATIONERY & PRINT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

16.	POST BALANCE SHEET EVENTS

Subsequent to the year end, the Company acquired the entire issued share capital of Otter House Limited from Zebra MTD Limited, the Company's parent undertaking. The acquisition formed part of a reorganisation of the wider group structure and is considered a non-adjusting event.

17.	CONTROLLING PARTY

The ultimate parent undertaking is Zebra MTD Limited, which is the only company in which the results of the company are consolidated. The registered office of that entity is the same as that of the group.

Consolidated financial statements are available to the public and may be obtained from the Registrar of Companies, Crown Way, Maindy, Cardiff.

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