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Registered Number: 10565643
England and Wales

 

 

 

THE VIRTUAL TRAINING TEAM LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2023

End date: 31 May 2024
Directors Mr J P Nicholson
Mrs C Nicholson
Registered Number 10565643
Registered Office CHURCH LANE FARMHOUSE CHURCH LANE
BRANDON GRANTHAM
NG32 2AP
Accountants White Knight Accountancy Limited
6 Crown Passage
Uppingham
LE15 9NB
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 15,601    16,459 
15,601    16,459 
Current assets      
Debtors 4 35,386    85,442 
Cash at bank and in hand 131,252    187,099 
166,638    272,541 
Creditors: amount falling due within one year 5 (81,750)   (111,025)
Net current assets 84,888    161,516 
 
Total assets less current liabilities 100,489    177,975 
Net assets 100,489    177,975 
 

Capital and reserves
     
Called up share capital 6 100    100 
Profit and loss account 100,389    177,875 
Shareholders' funds 100,489    177,975 
 


For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 04 December 2024 and were signed on its behalf by:


-------------------------------
Mr J P Nicholson
Director
2
General Information
THE VIRTUAL TRAINING TEAM LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10565643, registration address CHURCH LANE FARMHOUSE CHURCH LANE, BRANDON GRANTHAM, NG32 2AP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 20% Straight Line
Plant and Machinery 20% Straight Line
2.

Average number of employees

Average number of employees during the year was 14 (2023 : 13).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 01 June 2023 9,328    22,116    31,444 
Additions 196    6,322    6,518 
Disposals    
At 31 May 2024 9,524    28,438    37,962 
Depreciation
At 01 June 2023 5,597    9,388    14,985 
Charge for year 1,905    5,471    7,376 
On disposals    
At 31 May 2024 7,502    14,859    22,361 
Net book values
Closing balance as at 31 May 2024 2,022    13,579    15,601 
Opening balance as at 01 June 2023 3,730    12,729    16,459 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 35,386    85,442 
35,386    85,442 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 10,428    16,895 
Corporation Tax 33,440    26,929 
PAYE & Social Security 8,301    8,204 
Accrued Expenses 1,700    17,547 
Other Creditors   58 
Directors' Current Accounts 572    994 
VAT control account 27,309    40,398 
81,750    111,025 

6.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

3