Caseware UK (AP4) 2023.0.135 2023.0.135 2023-06-302023-06-302022-07-01falsefalseInfrastructure hosting for telecommunications and internet2428trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04890632 2022-07-01 2023-06-30 04890632 2021-07-01 2022-06-30 04890632 2023-06-30 04890632 2022-06-30 04890632 c:Director1 2022-07-01 2023-06-30 04890632 d:CurrentFinancialInstruments 2023-06-30 04890632 d:CurrentFinancialInstruments 2022-06-30 04890632 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 04890632 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 04890632 d:UKTax 2022-07-01 2023-06-30 04890632 d:UKTax 2021-07-01 2022-06-30 04890632 d:ShareCapital 2023-06-30 04890632 d:ShareCapital 2022-06-30 04890632 d:RetainedEarningsAccumulatedLosses 2023-06-30 04890632 d:RetainedEarningsAccumulatedLosses 2022-06-30 04890632 c:FRS102 2022-07-01 2023-06-30 04890632 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 04890632 c:FullAccounts 2022-07-01 2023-06-30 04890632 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure
Registered number: 04890632








VIRTUAL TALK LIMITED

UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 JUNE 2023

 
VIRTUAL TALK LIMITED
REGISTERED NUMBER: 04890632

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
308,392
339,620

Cash at bank and in hand
  
76,066
77,922

  
384,458
417,542

Creditors: amounts falling due within one year
 6 
(2,385,020)
(1,766,848)

Net current liabilities
  
 
 
(2,000,562)
 
 
(1,349,306)

Total assets less current liabilities
  
(2,000,562)
(1,349,306)

  

Net liabilities
  
(2,000,562)
(1,349,306)


Capital and reserves
  

Called up share capital 
  
50,000
50,000

Profit and loss account
  
(2,050,562)
(1,399,306)

  
(2,000,562)
(1,349,306)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

Page 1

 
VIRTUAL TALK LIMITED
REGISTERED NUMBER: 04890632
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 July 2023.



Stephen Bramhall
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
VIRTUAL TALK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Virtual Talk Limited is a private company limited by share capital, incorporated in England and Wales, registration number 04890632. The address of the registered office is 30 Orange Street, London, WC2H 7HF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable for services provided in the accounting period.

 
2.3

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.

 
2.4

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.

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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 including profit and loss account.
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.

Page 3

 
VIRTUAL TALK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

Foreign currency translation

Functional and presentation currency

The Company'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.

 
2.8

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.

 
2.9

Pensions

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.

 
2.10

Taxation

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.

Page 4

 
VIRTUAL TALK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 24 (2022 - 28).


4.


Taxation


2023
2022
£
£

Corporation tax


Repayment for current year
(116,665)
(140,170)

Adjustments in respect of previous periods
(1)
(1)


Total current tax
(116,666)
(140,171)

Factors affecting tax charge for the year

No UK corporation tax arises as a result of the tax adjusted loss for the year.


Factors that may affect future tax charges

The company has unutilised tax losses of £772,266 (2022- £415,800) resulting in a deferred tax asset of £193,066 (2022 - £79,002) which has not been recognised in these financial statements.


5.


Debtors

2023
2022
£
£


Trade debtors
-
39,396

Amounts owed by group undertakings
13,580
5,291

Other debtors
116,665
140,170

Prepayments and accrued income
178,147
154,763

308,392
339,620


Page 5

 
VIRTUAL TALK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
66,791
113,900

Amounts owed to group undertakings
1,600,084
824,706

Other taxation and social security
559,661
693,778

Other creditors
72,888
69,331

Accruals and deferred income
85,596
65,133

2,385,020
1,766,848



7.


Pension commitments

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 £24,329 (2022 - £27,958).

 
Page 6