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REGISTERED NUMBER: SC627312 (Scotland)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

Virtek Solutions Limited

Virtek Solutions Limited (Registered number: SC627312)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Virtek Solutions Limited

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: J Harwood
R Mullen
T J Nolan





REGISTERED OFFICE: Unit 2b Orbital Court
Peel Park
East Kilbride
Glasgow
G74 5PH





REGISTERED NUMBER: SC627312 (Scotland)





ACCOUNTANTS: Burgoyne Carey
Chartered Accountants
Pavilion 2
3 Dava Street
Broomloan Road
Glasgow
G51 2JA

Virtek Solutions Limited (Registered number: SC627312)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 73,120 87,760
Tangible assets 5 24,788 31,506
97,908 119,266

CURRENT ASSETS
Stocks 88,471 108,304
Debtors 6 154,443 196,251
Cash at bank and in hand 106,312 71,164
349,226 375,719
CREDITORS
Amounts falling due within one year 7 244,819 273,008
NET CURRENT ASSETS 104,407 102,711
TOTAL ASSETS LESS CURRENT
LIABILITIES

202,315

221,977

CREDITORS
Amounts falling due after more than one
year

8

(258,065

)

(264,017

)

PROVISIONS FOR LIABILITIES (4,710 ) (5,986 )
NET LIABILITIES (60,460 ) (48,026 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (60,462 ) (48,028 )
(60,460 ) (48,026 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

Virtek Solutions Limited (Registered number: SC627312)

BALANCE SHEET - continued
30 APRIL 2024


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 16 August 2024 and were signed on its behalf by:





J Harwood - Director


Virtek Solutions Limited (Registered number: SC627312)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Virtek Solutions Limited is a private company, limited by shares , registered in Scotland. 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 represents amounts invoiced during the year net, exclusive of Value Added Tax.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on cost

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Virtek Solutions Limited (Registered number: SC627312)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company makes payments on behalf of employees into a money purchase pension scheme.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 146,300
AMORTISATION
At 1 May 2023 58,540
Charge for year 14,640
At 30 April 2024 73,180
NET BOOK VALUE
At 30 April 2024 73,120
At 30 April 2023 87,760

5. TANGIBLE FIXED ASSETS
Fixtures
Office and Motor Computer
refurbishment fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 28,784 8,127 12,400 8,346 57,657
Additions - - - 1,698 1,698
At 30 April 2024 28,784 8,127 12,400 10,044 59,355
DEPRECIATION
At 1 May 2023 4,479 3,127 10,400 8,145 26,151
Charge for year 4,120 2,000 1,900 396 8,416
At 30 April 2024 8,599 5,127 12,300 8,541 34,567
NET BOOK VALUE
At 30 April 2024 20,185 3,000 100 1,503 24,788
At 30 April 2023 24,305 5,000 2,000 201 31,506

Virtek Solutions Limited (Registered number: SC627312)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 154,443 189,463
Other debtors - 6,788
154,443 196,251

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,000 6,000
Trade creditors 193,220 210,023
Taxation and social security 14,352 4,638
Other creditors 31,247 52,347
244,819 273,008

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 29,615 35,567
Other creditors 228,450 228,450
258,065 264,017

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than
five years 5,615 11,567
5,615 11,567

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
J Harwood
Balance outstanding at start of year 129,081 132,174
Amounts repaid - (3,093 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 129,081 129,081

Virtek Solutions Limited (Registered number: SC627312)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

T J Nolan
Balance outstanding at start of year 100,000 100,000
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 100,000 100,000