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REGISTERED NUMBER: 10759175 (England and Wales)















Unaudited Financial Statements

for the Period 1 July 2022 to 31 March 2023

for

Virtigon Ltd

Virtigon Ltd (Registered number: 10759175)

Contents of the Financial Statements
for the Period 1 July 2022 to 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Virtigon Ltd

Company Information
for the Period 1 July 2022 to 31 March 2023







DIRECTORS: S N Davis
C S Lawrence





SECRETARY:





REGISTERED OFFICE: Aldwych House
71-91 Aldwych
London
WC2B 4HN





REGISTERED NUMBER: 10759175 (England and Wales)





ACCOUNTANTS: M Ahmed & Co
Chartered Accountants
83 Park Road
Chilwell
Nottingham
NG9 4DE

Virtigon Ltd (Registered number: 10759175)

Balance Sheet
31 March 2023

31.3.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,889 3,556
Investments 5 - 25,472
2,889 29,028

CURRENT ASSETS
Debtors 6 105,435 140,911
Cash at bank 60,750 18,706
166,185 159,617
CREDITORS
Amounts falling due within one year 7 190,976 132,264
NET CURRENT (LIABILITIES)/ASSETS (24,791 ) 27,353
TOTAL ASSETS LESS CURRENT
LIABILITIES

(21,902

)

56,381

CREDITORS
Amounts falling due after more than one
year

8

(65,465

)

(49,785

)

PROVISIONS FOR LIABILITIES (676 ) (676 )
NET (LIABILITIES)/ASSETS (88,043 ) 5,920

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (88,143 ) 5,820
(88,043 ) 5,920

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2023 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.

Virtigon Ltd (Registered number: 10759175)

Balance Sheet - continued
31 March 2023


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 20 October 2023 and were signed on its behalf by:





S N Davis - Director


Virtigon Ltd (Registered number: 10759175)

Notes to the Financial Statements
for the Period 1 July 2022 to 31 March 2023


1. STATUTORY INFORMATION

Virtigon 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.

Preparation of consolidated financial statements
The financial statements contain information about Virtigon Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Taxation
Taxation for the period 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 period 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.

Virtigon Ltd (Registered number: 10759175)

Notes to the Financial Statements - continued
for the Period 1 July 2022 to 31 March 2023


2. ACCOUNTING POLICIES - continued

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 period was 10 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 July 2022
and 31 March 2023 5,530
DEPRECIATION
At 1 July 2022 1,974
Charge for period 667
At 31 March 2023 2,641
NET BOOK VALUE
At 31 March 2023 2,889
At 30 June 2022 3,556

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2022
and 31 March 2023 25,472
PROVISIONS
Provision for period 25,472
At 31 March 2023 25,472
NET BOOK VALUE
At 31 March 2023 -
At 30 June 2022 25,472

Virtigon Ltd (Registered number: 10759175)

Notes to the Financial Statements - continued
for the Period 1 July 2022 to 31 March 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 30.6.22
£    £   
Trade debtors 105,435 65,284
Amounts owed by group undertakings - 71,363
Accrued income - 2,550
Prepayments - 1,714
105,435 140,911

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 30.6.22
£    £   
Bank loans and overdrafts (see note 9) 10,000 10,000
Trade creditors 10,515 1,467
Amounts owed to group undertakings 106,236 -
Corporation Tax - 34,044
Social security and other taxes 19,428 13,107
VAT 23,066 56,933
Other creditors 20,231 15,589
Accrued expenses 1,500 1,124
190,976 132,264

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 30.6.22
£    £   
Bank loans (see note 9) 4,500 12,000
Other creditors 60,965 37,785
65,465 49,785

9. LOANS

An analysis of the maturity of loans is given below:

31.3.23 30.6.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 4,500 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years - 2,000

Virtigon Ltd (Registered number: 10759175)

Notes to the Financial Statements - continued
for the Period 1 July 2022 to 31 March 2023


10. ULTIMATE CONTROLLING PARTY

The controlling party is Metsi Group Limited.

11. GOING CONCERN

At the year end the company had negative reserves. The parent company and directors have indicated that they intend to support the company for the foreseeable future. Consequently, the accounts have been prepared on a going concern basis.