REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 November 2023 |
for |
THE VIRTUAL OFFICE GROUP LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 November 2023 |
for |
THE VIRTUAL OFFICE GROUP LIMITED |
THE VIRTUAL OFFICE GROUP LIMITED (REGISTERED NUMBER: 03176030) |
Contents of the Financial Statements |
for the year ended 30 November 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
THE VIRTUAL OFFICE GROUP LIMITED |
Company Information |
for the year ended 30 November 2023 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
Aissela |
46 High Street |
Esher |
Surrey |
KT10 9QY |
THE VIRTUAL OFFICE GROUP LIMITED (REGISTERED NUMBER: 03176030) |
Balance Sheet |
30 November 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investments | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current assets |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 8 |
Share premium |
Retained earnings | ( |
) |
Shareholders' funds |
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 were approved by the Board of Directors and authorised for issue on |
THE VIRTUAL OFFICE GROUP LIMITED (REGISTERED NUMBER: 03176030) |
Notes to the Financial Statements |
for the year ended 30 November 2023 |
1. | Statutory information |
The Virtual Office Group Limited is a private company, limited by shares, registered in the United Kingdom. The company's registered office number and registered office address can be found on the Company Information page. |
2. | Accounting policies |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Key source of estimation, uncertainty and judgement |
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. |
There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade and other debtors is carried out regularly. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable. |
There is estimation uncertainty in calculating impairment of fixed asset investments. A full line by line review of investments is carried out regularly. Whilst every attempt is made to ensure that impairments are as accurate as possible, there remains a risk that the carrying amount of fixed asset investments do not match the amounts that will ultimately prove to be recoverable. |
Turnover |
Turnover comprises revenue recognised by the company in respect of services supplied during the year, exclusive of Value Added Tax and trade discounts. Turnover is recognised when the services have been provided. |
Tangible fixed assets |
Equipment | - |
All fixed assets are initially recorded at cost. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Financial instruments |
Financial instruments are classified and accounted for according to the substance of the contractual arrangements as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
THE VIRTUAL OFFICE GROUP LIMITED (REGISTERED NUMBER: 03176030) |
Notes to the Financial Statements - continued |
for the year ended 30 November 2023 |
2. | Accounting policies - continued |
Deferred tax |
Deferred tax is provided using the liability method on all timing differences between the recognition of gains and losses in the financial statements and recognition in tax computations. A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be sufficient future taxable profits from which underlying timing differences can be deducted. |
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 profit. |
Pension costs and other post-retirement benefits |
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. |
Consolidation |
In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Tangible fixed assets |
Equipment |
£ |
Cost |
At 1 December 2022 |
Additions |
At 30 November 2023 |
Depreciation |
At 1 December 2022 |
and 30 November 2023 |
Net book value |
At 30 November 2023 |
At 30 November 2022 |
5. | Fixed asset investments |
2023 | 2022 |
£ | £ |
Shares in group undertakings |
Other loans |
THE VIRTUAL OFFICE GROUP LIMITED (REGISTERED NUMBER: 03176030) |
Notes to the Financial Statements - continued |
for the year ended 30 November 2023 |
5. | Fixed asset investments - continued |
Additional information is as follows: |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 December 2022 |
and 30 November 2023 |
Net book value |
At 30 November 2023 |
At 30 November 2022 |
Other loans |
£ |
At 1 December 2022 |
Repayment in year | ( |
) |
At 30 November 2023 |
6. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Prepayments and accrued income |
7. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Social security and other taxes |
VAT | 6,503 | 7,835 |
Other creditors |
Accrued expenses |
8. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 7,143 | 7,143 |
9. | Directors' advances, credits and guarantees |
The loan is interest free and repayable on demand. |