Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false19No description of principal activity2023-04-0117falsetruefalse 04039493 2023-04-01 2024-03-31 04039493 2022-04-01 2023-03-31 04039493 2024-03-31 04039493 2023-03-31 04039493 c:Director1 2023-04-01 2024-03-31 04039493 c:Director2 2023-04-01 2024-03-31 04039493 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 04039493 d:Buildings d:LongLeaseholdAssets 2024-03-31 04039493 d:Buildings d:LongLeaseholdAssets 2023-03-31 04039493 d:MotorVehicles 2023-04-01 2024-03-31 04039493 d:MotorVehicles 2024-03-31 04039493 d:MotorVehicles 2023-03-31 04039493 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04039493 d:OfficeEquipment 2023-04-01 2024-03-31 04039493 d:OfficeEquipment 2024-03-31 04039493 d:OfficeEquipment 2023-03-31 04039493 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04039493 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04039493 d:CurrentFinancialInstruments 2024-03-31 04039493 d:CurrentFinancialInstruments 2023-03-31 04039493 d:Non-currentFinancialInstruments 2024-03-31 04039493 d:Non-currentFinancialInstruments 2023-03-31 04039493 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 04039493 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04039493 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 04039493 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 04039493 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 04039493 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 04039493 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 04039493 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 04039493 d:ShareCapital 2024-03-31 04039493 d:ShareCapital 2023-03-31 04039493 d:RetainedEarningsAccumulatedLosses 2024-03-31 04039493 d:RetainedEarningsAccumulatedLosses 2023-03-31 04039493 c:FRS102 2023-04-01 2024-03-31 04039493 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04039493 c:FullAccounts 2023-04-01 2024-03-31 04039493 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04039493 d:WithinOneYear 2024-03-31 04039493 d:WithinOneYear 2023-03-31 04039493 d:BetweenOneFiveYears 2024-03-31 04039493 d:BetweenOneFiveYears 2023-03-31 04039493 d:MoreThanFiveYears 2024-03-31 04039493 d:MoreThanFiveYears 2023-03-31 04039493 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 04039493 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 04039493 2 2023-04-01 2024-03-31 04039493 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 04039493









VIRA INTERNATIONAL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
VIRA INTERNATIONAL LIMITED
REGISTERED NUMBER:04039493

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
385,578
246,612

  
385,578
246,612

Current assets
  

Debtors: amounts falling due within one year
 5 
3,526,661
2,356,766

Cash at bank and in hand
 6 
3,733,003
2,737,453

  
7,259,664
5,094,219

Creditors: amounts falling due within one year
 7 
(3,750,257)
(1,716,768)

Net current assets
  
 
 
3,509,407
 
 
3,377,451

Total assets less current liabilities
  
3,894,985
3,624,063

Creditors: amounts falling due after more than one year
 8 
-
(22,498)

Provisions for liabilities
  

Deferred tax
 10 
(96,395)
(61,653)

  
 
 
(96,395)
 
 
(61,653)

Net assets
  
3,798,590
3,539,912


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
3,798,490
3,539,812

  
3,798,590
3,539,912


Page 1

 
VIRA INTERNATIONAL LIMITED
REGISTERED NUMBER:04039493
    
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: 




................................................
A Rajan
................................................
R Sharma
Director
Director


Date: 3 December 2024

The notes on pages 3 to 11 form part of these financial statements.

Page 2

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

1.


General information

Vira International Limited is a company limited by shares incorporated in England within the United Kingdom. The address of the registered office is given in the company information page of these financial statements.
The company's principal activity is that of labour recruitment services.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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'.

Page 3

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

2.Accounting policies (continued)

 
2.3

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

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

2.Accounting policies (continued)

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

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

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Long-term leasehold property
-
Motor vehicles
-
25%
Straight line
Office equipment
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

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.

 
2.13

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.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

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

3.


Employees

The average monthly number of employees, including directors, during the year was 19 (2023 - 17).


4.


Tangible fixed assets





Long-term leasehold property
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
107,880
56,675
165,394
329,949


Additions
6,109
173,848
14,740
194,697



At 31 March 2024

113,989
230,523
180,134
524,646



Depreciation


At 1 April 2023
-
4,723
78,614
83,337


Charge for the year on owned assets
-
32,257
23,474
55,731



At 31 March 2024

-
36,980
102,088
139,068



Net book value



At 31 March 2024
113,989
193,543
78,046
385,578



At 31 March 2023
107,880
51,952
86,780
246,612

Page 7

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

5.


Debtors

2024
2023
£
£


Trade debtors
180,707
498,060

Amounts owed by connected parties
2,540,673
1,100,000

Other debtors
648,918
634,911

Prepayments and accrued income
14,468
17,888

Tax recoverable
141,895
105,907

3,526,661
2,356,766


At the balance sheet date an advanced loan of £2,540,673 was made to a connected company, Vira Properties Ltd. This loan is interest free and is repayable on demand.

At the balance sheet date, an amount of £38,170 was owed to the company by a members of staff. This is repayable on demand.

Included within other debtors due within one year is a loan to a director, amounting to £420,430 (2023 - £613,799). Interest is charged on the loan at the official rate of interest. 




6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
3,733,003
2,737,453

3,733,003
2,737,453


Page 8

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

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
10,000

Trade creditors
121,332
95,462

Amounts owed to group undertakings
1,500,000
-

Corporation tax
264,632
653,816

Other taxation and social security
186,378
118,697

Other creditors
1,284,617
658,980

Accruals and deferred income
393,298
179,813

3,750,257
1,716,768



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
22,498

-
22,498


Page 9

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

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
-
10,000


-
10,000

Amounts falling due 1-2 years

Bank loans
-
20,000


-
20,000

Amounts falling due 2-5 years

Bank loans
-
2,498


-
2,498


-
32,498


Page 10

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

10.


Deferred taxation




2024


£






At beginning of year
(61,653)


Charged to profit or loss
(34,742)



At end of year
(96,395)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(96,395)
(61,653)

(96,395)
(61,653)


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £47,600 (2023 - £12,496). The total contribution payable at the balance sheet date amounted to £6,254 (2023 - £3,208).


12.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
78,000
88,594

Later than 1 year and not later than 5 years
312,000
312,000

Later than 5 years
39,000
117,000

429,000
517,594


13.Other financial commitments

As of the 20 September 2022 the company received a fixed and floating charge in favour of National Westminster Bank Plc over all current and future assets of the company.

 
Page 11