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Virgo Consultancy Services Limited

Financial Statements for the Year Ended 31 July 2022






Virgo Consultancy Services Limited

Company Information
for the Year Ended 31 July 2022







DIRECTOR: H P Brown





SECRETARY: H P Brown





REGISTERED OFFICE: 265 Holton Road
Barry
Vale of Glamorgan





REGISTERED NUMBER: 06639295 (England and Wales)






Virgo Consultancy Services Limited (Registered number: 06639295)

Balance Sheet
31 July 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 4,292 5,723

CURRENT ASSETS
Debtors 4 274,071 309,007
Cash at bank and in hand 73 83,810
274,144 392,817
CREDITORS
Amounts falling due within one year 5 308,855 385,301
NET CURRENT (LIABILITIES)/ASSETS (34,711 ) 7,516
TOTAL ASSETS LESS CURRENT
LIABILITIES

(30,419

)

13,239

CREDITORS
Amounts falling due after more than
one year

6

30,000

39,352
NET LIABILITIES (60,419 ) (26,113 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (60,420 ) (26,114 )
(60,419 ) (26,113 )

Virgo Consultancy Services Limited (Registered number: 06639295)

Balance Sheet - continued
31 July 2022


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 14 February 2024 and were signed by:





H P Brown - Director


Virgo Consultancy Services Limited (Registered number: 06639295)

Notes to the Financial Statements
for the Year Ended 31 July 2022


1. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% reducing balance

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.

Pension costs
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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2021 - 7 ) .

Virgo Consultancy Services Limited (Registered number: 06639295)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2022


3. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 August 2021
and 31 July 2022 45,574
DEPRECIATION
At 1 August 2021 39,851
Charge for year 1,431
At 31 July 2022 41,282
NET BOOK VALUE
At 31 July 2022 4,292
At 31 July 2021 5,723

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 274,071 305,382
Other debtors & prepayments - 3,625
274,071 309,007

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 48,359 44,279
Taxes & social security costs 66,182 46,869
Other creditors & accruals 194,314 294,153
308,855 385,301

The company meets its day to day working capital requirements through an overdraft and loan facility which, in common with all such facilities, are repayable on demand. The director expects that the company will continue to operate within the facility currently agreed. The director's views are based on her plans and on discussions with the company's bankers and the director will continue to support the company as necessary.

Virgo Consultancy Services Limited (Registered number: 06639295)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2022


6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2022 2021
£    £   
Bank loans 30,000 39,352