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REGISTERED NUMBER: 05645724 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

VIRTUAL CORPORATION LTD

VIRTUAL CORPORATION LTD (REGISTERED NUMBER: 05645724)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


VIRTUAL CORPORATION LTD

Company Information
for the Year Ended 31 December 2023







DIRECTORS: N Griffin
G J Simpson
M Williams





SECRETARY: N Griffin





REGISTERED OFFICE: Aizlewood Business Centre
Nursery Street
Sheffield
South Yorkshire
S3 8GG





REGISTERED NUMBER: 05645724 (England and Wales)





ACCOUNTANT: Hill and Co Accountants
106 Holme Lane
Hillsborough
Sheffield
South Yorkshire
S6 4JW

VIRTUAL CORPORATION LTD (REGISTERED NUMBER: 05645724)

Balance Sheet
31 December 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 32,679 32,679
Tangible assets 5 137 137
32,816 32,816

CURRENT ASSETS
Debtors 6 621 621

CREDITORS
Amounts falling due within one year 7 27,172 27,172
NET CURRENT LIABILITIES (26,551 ) (26,551 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,265

6,265

CAPITAL AND RESERVES
Called up share capital 150,000 150,000
Retained earnings (143,735 ) (143,735 )
SHAREHOLDERS' FUNDS 6,265 6,265

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 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 24 September 2024 and were signed on its behalf by:





G J Simpson - Director


VIRTUAL CORPORATION LTD (REGISTERED NUMBER: 05645724)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Virtual Corporation Ltd 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.

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.

Computer software is being amortised evenly over its estimated useful life of nil 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.

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.

3. EMPLOYEES AND DIRECTORS

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

VIRTUAL CORPORATION LTD (REGISTERED NUMBER: 05645724)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 105,946
AMORTISATION
At 1 January 2023
and 31 December 2023 73,267
NET BOOK VALUE
At 31 December 2023 32,679
At 31 December 2022 32,679

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 618
DEPRECIATION
At 1 January 2023
and 31 December 2023 481
NET BOOK VALUE
At 31 December 2023 137
At 31 December 2022 137

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Other debtors 621 621

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade creditors 1,621 1,621
Other creditors 25,551 25,551
27,172 27,172