Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2false2023-04-012Investment Companyfalsetrue 11283443 2023-04-01 2024-03-31 11283443 2024-03-31 11283443 2022-04-01 2023-03-31 11283443 2023-03-31 11283443 c:Director2 2023-04-01 2024-03-31 11283443 d:CurrentFinancialInstruments 2024-03-31 11283443 d:CurrentFinancialInstruments 2023-03-31 11283443 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11283443 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11283443 d:ShareCapital 2024-03-31 11283443 d:ShareCapital 2023-03-31 11283443 d:RetainedEarningsAccumulatedLosses 2024-03-31 11283443 d:RetainedEarningsAccumulatedLosses 2023-03-31 11283443 c:OrdinaryShareClass1 2023-04-01 2024-03-31 11283443 c:OrdinaryShareClass1 2024-03-31 11283443 c:OrdinaryShareClass1 2023-03-31 11283443 c:OrdinaryShareClass2 2023-04-01 2024-03-31 11283443 c:OrdinaryShareClass2 2024-03-31 11283443 c:OrdinaryShareClass2 2023-03-31 11283443 c:FRS102 2023-04-01 2024-03-31 11283443 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11283443 c:FullAccounts 2023-04-01 2024-03-31 11283443 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11283443 6 2023-04-01 2024-03-31 11283443 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 11283443


VRG LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
VRG LIMITED
 
 
  
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF VRG LIMITED
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of VRG Limited for the year ended 31 March 2024 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountantswe are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal .com/uk/en/about-us /regulation/ethics /acca-rulebook.html.

This report is made solely to the Board of directors of VRG Limited, as a body, in accordance with the terms of our engagement letter dated 16 November 2021Our work has been undertaken solely to prepare for your approval the financial statements of VRG Limited and state those matters that we have agreed to state to the Board of directors of VRG Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal .com/content/dam/ACCA_Global /Technical /fact/technical-factsheet -163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than VRG Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that VRG Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of VRG Limited. You consider that VRG Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of VRG Limited. 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 statutory financial statements.

  



Wellers
 
Kineton House
31 Horse Fair
Banbury
Oxfordshire
OX16 0AE
31 October 2024
Page 1

 
VRG LIMITED
REGISTERED NUMBER: 11283443

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
1,474,351
663,286

  
1,474,351
663,286

Current assets
  

Cash at bank and in hand
 5 
11
11

  
11
11

Creditors: amounts falling due within one year
 6 
(1,480,355)
(663,256)

Net current liabilities
  
 
 
(1,480,344)
 
 
(663,245)

Total assets less current liabilities
  
(5,993)
41

  

Net (liabilities)/assets
  
(5,993)
41


Capital and reserves
  

Called up share capital 
 7 
41
41

Profit and loss account
  
(6,034)
-

  
(5,993)
41


Page 2

 
VRG LIMITED
REGISTERED NUMBER: 11283443
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




___________________________
Varda Wolf
Director

Date: 31 October 2024

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
VRG LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

VRG Limited is a private limited company limited by share capital incorporated in England and Wales. The company's registration number is 11283443. The registered office is Oakfield House, Bollington Lane, Nether Alderley, Cheshire, England, SK10 4TB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

Page 4

 
VRG LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.5

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
VRG LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Fixed asset investments





Investments in subsidiary companies
Investments in associates
Advance Subscription Agreement
Total

£
£
£
£



Cost or valuation


At 1 April 2023
5,000
658,286
-
663,286


Additions
-
402,442
413,623
816,065


Amounts written off
(5,000)
-
-
(5,000)



At 31 March 2024
-
1,060,728
413,623
1,474,351




Page 6

 
VRG LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
11
11

11
11



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
1,475,615
663,256

Accruals and deferred income
4,740
-

1,480,355
663,256



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



40 (2023 - 40) Ordinary A shares of £1.00 each
40
40
1 (2023 - 1) Ordinary B share of £1.00
1
1

41

41



8.


Related party transactions

During the year, the company received a loan amounting to £402,442 (£2023 - £0) from a connected entity. As at 31 January 2024, the total amount outstanding was £402,442. (2023 - £0)

 
Page 7