Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31No description of principal activitytrue2023-04-01false55trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12957486 2023-04-01 2024-03-31 12957486 2022-04-01 2023-03-31 12957486 2024-03-31 12957486 2023-03-31 12957486 c:Director2 2023-04-01 2024-03-31 12957486 d:ComputerSoftware 2024-03-31 12957486 d:ComputerSoftware 2023-03-31 12957486 d:CurrentFinancialInstruments 2024-03-31 12957486 d:CurrentFinancialInstruments 2023-03-31 12957486 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 12957486 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12957486 d:ShareCapital 2024-03-31 12957486 d:ShareCapital 2023-03-31 12957486 d:RetainedEarningsAccumulatedLosses 2024-03-31 12957486 d:RetainedEarningsAccumulatedLosses 2023-03-31 12957486 c:FRS102 2023-04-01 2024-03-31 12957486 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12957486 c:FullAccounts 2023-04-01 2024-03-31 12957486 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12957486 d:ComputerSoftware d:OwnedIntangibleAssets 2023-04-01 2024-03-31 12957486 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 12957486










VIRTU SCOUT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
VIRTU SCOUT LIMITED
REGISTERED NUMBER: 12957486

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
6,944

Tangible assets
  
-
-

Current assets
  

Debtors
  
1,000
-

  
1,000
-

Creditors: amounts falling due within one year
 5 
-
(27,366)

Net current assets/(liabilities)
  
 
 
1,000
 
 
(27,366)

Total assets less current liabilities
  
1,000
(20,422)

  

Net assets/(liabilities)
  
1,000
(20,422)


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
-
(21,422)

  
1,000
(20,422)


Page 1

 
VIRTU SCOUT LIMITED
REGISTERED NUMBER: 12957486
    
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 profit and loss account 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 on 9 October 2024.




P J Beckett
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

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

1.


General information

Virtu Scout limited is a private Company limited by shares, incorporated in England and Wales (registered number: 12957486). Its registered office is Unit B4 West 12 Studios, 2a Askew Cres, London, W12 9DP. The Company ceased trading on 31 March 2024. Prior to that, the principal activity of the Company was that of the provision of software.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Taxation

Tax is recognised in the Statement of Income and Retained Earnings.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.

Page 3

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

2.Accounting policies (continued)

 
2.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties, and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 5).

Page 4

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

4.


Intangible assets




Computer software

£



Cost


At 1 April 2023
25,000



At 31 March 2024

25,000



Amortisation


At 1 April 2023
18,056


Charge for the year on owned assets
6,944



At 31 March 2024

25,000



Net book value



At 31 March 2024
-



At 31 March 2023
6,944




5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
73

Amounts owed to group undertakings
-
27,293

-
27,366



6.


Controlling party

The ultimate holding Company of Virtu Scout Limited is Paramex Ventures Limited whose registered office is Unit B4 West 12 Studios, 2a Askew Crescent, London, W12 9DP.

 
Page 5