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Company No: 13295339 (England and Wales)

VIRESCO INVESTMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

VIRESCO INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

VIRESCO INVESTMENTS LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
VIRESCO INVESTMENTS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTOR S Christie-Miller
REGISTERED OFFICE The Old Rectory
Swyncombe
Henley-On-Thames
RG9 6EA
England
United Kingdom
COMPANY NUMBER 13295339 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Hitchcock House
Hilltop Park
Devizes Road
Salisbury
Wiltshire SP3 4UF
VIRESCO INVESTMENTS LIMITED

BALANCE SHEET

As at 31 March 2024
VIRESCO INVESTMENTS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 50,000 50,000
50,000 50,000
Current assets
Debtors
- due within one year 4 1,670,123 1,645,123
- due after more than one year 4 549,915 549,915
Cash at bank and in hand 319,324 1,068,395
2,539,362 3,263,433
Creditors: amounts falling due within one year 5 ( 2,626,145) ( 3,326,806)
Net current liabilities (86,783) (63,373)
Total assets less current liabilities (36,783) (13,373)
Net liabilities ( 36,783) ( 13,373)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 36,883 ) ( 13,473 )
Total shareholder's deficit ( 36,783) ( 13,373)

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Viresco Investments Limited (registered number: 13295339) were approved and authorised for issue by the Director on 16 August 2024. They were signed on its behalf by:

S Christie-Miller
Director
VIRESCO INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
VIRESCO INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Viresco Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Old Rectory, Swyncombe, Henley-On-Thames, RG9 6EA, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents dividends or income received from the fixed asset investments made by the company.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 April 2023 50,000 50,000
At 31 March 2024 50,000 50,000
Carrying value at 31 March 2024 50,000 50,000
Carrying value at 31 March 2023 50,000 50,000

4. Debtors

2024 2023
£ £
Debtors: amounts falling due within one year
Amounts owed by director 1,670,123 1,645,123
Debtors: amounts falling due after more than one year
Other debtors 549,915 549,915

5. Creditors: amounts falling due within one year

2024 2023
£ £
Other loans 2,624,368 2,774,391
Accruals 1,800 2,500
Corporation tax ( 23) 549,915
2,626,145 3,326,806

Worthearly Limited, a company related by common directors, is owed £2,624,368 (2023 £2,774,391) which is included within other creditors, and is interest free and repayable on demand.

6. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Balance as at 1 April 2023 1,645,123 425,100
Advances to the director 25,000 1,220,023
Overdrawn balance as at 31 March 2024 1,670,123 1,645,123