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REGISTERED NUMBER: 10171751 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023

FOR

VIRTU LETTINGS LTD

VIRTU LETTINGS LTD (REGISTERED NUMBER: 10171751)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

VIRTU LETTINGS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: A J Hart
L A R Paris





SECRETARY: S Hart





REGISTERED OFFICE: Russell House
140 High Street
Edgware
Middlesex
HA8 7LW





REGISTERED NUMBER: 10171751 (England and Wales)





ACCOUNTANTS: The Paris Partnership LLP
Chartered Accountants
Russell House
140 High Street
Edgware
Middlesex
HA8 7LW

VIRTU LETTINGS LTD (REGISTERED NUMBER: 10171751)

BALANCE SHEET
31ST MARCH 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investment property 4 2,305,000 2,305,000

CURRENT ASSETS
Debtors 5 3,763 2,055
Cash at bank 329,703 269,377
333,466 271,432
CREDITORS
Amounts falling due within one year 6 (1,352,146 ) (1,352,550 )
NET CURRENT LIABILITIES (1,018,680 ) (1,081,118 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,286,320

1,223,882

PROVISIONS FOR LIABILITIES (206,300 ) (156,788 )
NET ASSETS 1,080,020 1,067,094

CAPITAL AND RESERVES
Called up share capital 7 100 100
Fair value reserve 8 905,000 -
Retained earnings 8 174,920 1,066,994
SHAREHOLDERS' FUNDS 1,080,020 1,067,094

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

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

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6th November 2023 and were signed on its behalf by:





A J Hart - Director


VIRTU LETTINGS LTD (REGISTERED NUMBER: 10171751)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023


1. STATUTORY INFORMATION

Virtu Lettings 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Cash and cash equivalent
Cash and cash equivalent include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

VIRTU LETTINGS LTD (REGISTERED NUMBER: 10171751)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2022
and 31st March 2023 2,305,000
NET BOOK VALUE
At 31st March 2023 2,305,000
At 31st March 2022 2,305,000

Fair value at 31st March 2023 is represented by:
£   
Valuation in 2017 594,950
Valuation in 2022 310,050
Cost 1,400,000
2,305,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,898 -
Other debtors 1,865 2,055
3,763 2,055

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2,134 85
Amounts owed to group undertakings 1,329,177 1,328,736
Taxation and social security 14,659 13,315
Other creditors 6,176 10,414
1,352,146 1,352,550

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

8. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1st April 2022 1,066,994 - 1,066,994
Profit for the year 12,926 12,926
Increase in Valuation (905,000 ) 905,000 -
At 31st March 2023 174,920 905,000 1,079,920

VIRTU LETTINGS LTD (REGISTERED NUMBER: 10171751)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


9. ULTIMATE PARENT COMPANY

The ultimate parent company is Virtu Holdings Limited. The company's registered office address is at Russell House, 140 High Street, Edgware, Middlesex, England, HA8 7LW.

The ultimate controlling party is Mr Andrew Hart.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
VIRTU LETTINGS LTD


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Virtu Lettings Ltd for the year ended 31st March 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Virtu Lettings Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Virtu Lettings Ltd and state those matters that we have agreed to state to the Board of Directors of Virtu Lettings Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Virtu Lettings Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Virtu Lettings Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Virtu Lettings Ltd. You consider that Virtu Lettings Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Virtu Lettings Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Paris Partnership LLP
Chartered Accountants
Russell House
140 High Street
Edgware
Middlesex
HA8 7LW


6th November 2023