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REGISTERED NUMBER: 13132754 (England and Wales)















REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

VIRTUALROUTEZ LIMITED

VIRTUALROUTEZ LIMITED (REGISTERED NUMBER: 13132754)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Report of the Directors 2

Report of the Accountants 3

Income Statement 4

Balance Sheet 5

Notes to the Financial Statements 6


VIRTUALROUTEZ LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr M Coetzee
Mr D J Pringle
Mr H A Ras
Mr H Schultz
Mr R F Van Zyl





REGISTERED OFFICE: Ground Floor Marlborough House
298 Regents Park Road
London
N3 2SZ





REGISTERED NUMBER: 13132754 (England and Wales)





ACCOUNTANTS: Fusion Accountancy Limited
Marlborough Hosue
298 Regents Park Road
London
N3 2SZ

VIRTUALROUTEZ LIMITED (REGISTERED NUMBER: 13132754)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of virtual industry value chain integration.

DIRECTORS
Mr H Schultz has held office during the whole of the period from 1 January 2023 to the date of this report.

Other changes in directors holding office are as follows:

Mr M Coetzee - appointed 25 September 2023
Mr D J Pringle - appointed 25 September 2023
Mr H A Ras - appointed 25 September 2023
Mr R F Van Zyl - appointed 25 September 2023

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr H Schultz - Director


14 August 2024

VIRTUALROUTEZ LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
VIRTUALROUTEZ LIMITED


In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.

This report is made to the director in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the director the financial statements that we have been engaged to compile, to report to the director that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's director for our work or for this report.

You have acknowledged on the balance sheet as at year ended 31 December 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. 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 financial statements.






Fusion Accountancy Limited
Marlborough Hosue
298 Regents Park Road
London
N3 2SZ


14 August 2024

VIRTUALROUTEZ LIMITED (REGISTERED NUMBER: 13132754)

INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

31.12.23 31.12.22
Notes $    $   

TURNOVER 132,934 52,683

Cost of sales 4,771 12,823
GROSS PROFIT 128,163 39,860

Administrative expenses 150,482 68,538
OPERATING LOSS 4 (22,319 ) (28,678 )

Interest receivable and similar income 2,142 923
(20,177 ) (27,755 )

Interest payable and similar expenses 4,838 1,399
LOSS BEFORE TAXATION (25,015 ) (29,154 )

Tax on loss - -
LOSS FOR THE FINANCIAL YEAR (25,015 ) (29,154 )

VIRTUALROUTEZ LIMITED (REGISTERED NUMBER: 13132754)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes $    $    $    $   
FIXED ASSETS
Intangible assets 5 19,092 25,456
Tangible assets 6 1,004 -
Investments 7 6 6
20,102 25,462

CURRENT ASSETS
Debtors 8 21,298 7,940
Cash at bank 12,791 28,877
34,089 36,817
CREDITORS
Amounts falling due within one year 9 112,008 95,081
NET CURRENT LIABILITIES (77,919 ) (58,264 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(57,817

)

(32,802

)

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 11 (57,818 ) (32,803 )
SHAREHOLDERS' FUNDS (57,817 ) (32,802 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 14 August 2024 and were signed on its behalf by:




Mr H Schultz - Director


VIRTUALROUTEZ LIMITED (REGISTERED NUMBER: 13132754)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Virtualroutez Limited 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.

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

Intangible assets
Intellectual property assets are £31,820. It is amortised to the profit and loss account over its estimated economic life of 5 years.

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

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern disclosure
The directors have formed a judgement at the time of approving the Annual Financial Statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason the directors have adopted the going concern basis in preparing the accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 1 ) .

4. OPERATING LOSS

The operating loss is stated after charging:

31.12.23 31.12.22
$    $   
Depreciation - owned assets 56 -
Development costs amortisation 6,364 6,364

VIRTUALROUTEZ LIMITED (REGISTERED NUMBER: 13132754)

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

5. INTANGIBLE FIXED ASSETS
Development
costs
$   
COST
At 1 January 2023
and 31 December 2023 31,820
AMORTISATION
At 1 January 2023 6,364
Amortisation for year 6,364
At 31 December 2023 12,728
NET BOOK VALUE
At 31 December 2023 19,092
At 31 December 2022 25,456

6. TANGIBLE FIXED ASSETS
Computer
equipment
$   
COST
Additions 1,060
At 31 December 2023 1,060
DEPRECIATION
Charge for year 56
At 31 December 2023 56
NET BOOK VALUE
At 31 December 2023 1,004

7. FIXED ASSET INVESTMENTS
Unlisted
investments
$   
COST
At 1 January 2023
and 31 December 2023 6
NET BOOK VALUE
At 31 December 2023 6
At 31 December 2022 6

The company's investment at the Statement of Financial Position date is in the share capital of VirtualRouteZ (Pty) Ltd, a company incorporated in South Africa. The company owns 100% of the share capital.

VIRTUALROUTEZ LIMITED (REGISTERED NUMBER: 13132754)

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

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
$    $   
Trade debtors 6,899 -
Amounts owed by group undertakings 14,399 7,940
21,298 7,940

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
$    $   
Trade creditors 1,707 -
Amounts owed to group undertakings 12,313 13,225
Accounts payable 95,849 79,824
Accruals and deferred income 2,139 2,032
112,008 95,081

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: $    $   
1 Ordinary £1 £1 1 1

11. RESERVES
Retained
earnings
$   

At 1 January 2023 (32,803 )
Deficit for the year (25,015 )
At 31 December 2023 (57,818 )

12. RELATED PARTY DISCLOSURES

VirtualRouteZ Limited owns 100% of the share capital of VirtualRouteZ (Pty) Ltd.

VirtualRouteZ (Pty) Ltd
At the balance sheet date, included creditors, is an amount of $12,313 (2022: $13,225) owed to VirtualrouteZ (Pty) Ltd. This loan is interest free, of no fixed term and repayable on demand.

At the balance sheet date, included under debtors, is an amount of $12,149 (2022: $7,940) owed from VirtualRouteZ (Pty) Ltd. This loan has interest charged at a rate of LIBOR + 2% and BOE + 2% from July 2023 and is repayable on demand.

VirtualRouteZ Holdings Loan
At the balance sheet date, included under debtors, is an amount of $2,250 owed from VirtualRouteZ Holdings Ltd.

13. TAXATION

The company has carried forward losses of $43,388 (2022: $29,250) to use against future profits.