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REGISTERED NUMBER: 11957484 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 April 2024

for

THE VIRTUAL LEGAL COUNSEL LTD

THE VIRTUAL LEGAL COUNSEL LTD (REGISTERED NUMBER: 11957484)

Contents of the Financial Statements
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


THE VIRTUAL LEGAL COUNSEL LTD

Company Information
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: J M Oddy
Mrs K J Konstanz-Faulkner





REGISTERED OFFICE: 96 Hope Quay The Gateway
Wapping Wharf
Bristol
BS1 6ZH





REGISTERED NUMBER: 11957484 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
4th Floor
St James House
St James Square
Cheltenham
Gloucestershire
GL50 3PR

THE VIRTUAL LEGAL COUNSEL LTD (REGISTERED NUMBER: 11957484)

Statement of Financial Position
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 24,467 20,777

CURRENT ASSETS
Debtors 5 1,989,767 1,234,637
Cash at bank and in hand 85,000 259,107
2,074,767 1,493,744
CREDITORS
Amounts falling due within one year 6 679,497 426,015
NET CURRENT ASSETS 1,395,270 1,067,729
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,419,737

1,088,506

PROVISIONS FOR LIABILITIES 6,117 -
NET ASSETS 1,413,620 1,088,506

CAPITAL AND RESERVES
Called up share capital 5 4
Retained earnings 1,413,615 1,088,502
SHAREHOLDERS' FUNDS 1,413,620 1,088,506

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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 VIRTUAL LEGAL COUNSEL LTD (REGISTERED NUMBER: 11957484)

Statement of Financial Position - continued
30 APRIL 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 January 2025 and were signed on its behalf by:





J M Oddy - Director


THE VIRTUAL LEGAL COUNSEL LTD (REGISTERED NUMBER: 11957484)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

The Virtual Legal Counsel 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.

The director considers that in preparing the financial statements he has taken into account all information available, and on this basis the financial statements are prepared on a going concern basis.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 50% on cost
Fixtures and fittings - 10% on cost
Computer equipment - 50% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


THE VIRTUAL LEGAL COUNSEL LTD (REGISTERED NUMBER: 11957484)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:

Deferred tax assets are recognised only to the extent that directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantially enacted at the
balance sheet date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 May 2023 19,279 12,083 13,372 44,734
Additions 3,978 - 11,287 15,265
At 30 April 2024 23,257 12,083 24,659 59,999
DEPRECIATION
At 1 May 2023 12,316 3,625 8,016 23,957
Charge for year 5,620 1,208 4,747 11,575
At 30 April 2024 17,936 4,833 12,763 35,532
NET BOOK VALUE
At 30 April 2024 5,321 7,250 11,896 24,467
At 30 April 2023 6,963 8,458 5,356 20,777

THE VIRTUAL LEGAL COUNSEL LTD (REGISTERED NUMBER: 11957484)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024


5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 634,052 390,225
Other debtors 209,799 177,412
843,851 567,637

Amounts falling due after more than one year:
Other debtors 1,145,916 667,000

Aggregate amounts 1,989,767 1,234,637

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 9,876 17,447
Taxation and social security 458,659 370,656
Other creditors 210,962 37,912
679,497 426,015

7. RELATED PARTY DISCLOSURES

The Virtual Legal Counsel Ltd and TJA Growth Ltd are under common control directorship and ownership of Mr Jonathan Oddy

The Virtual Legal Counsel Ltd provides funds via an inter-company loan to facilitate the purchase of TJA Growth Ltd's properties. The total value of the loan outstanding at the year end was £1,146,397 (2023:£667,000). TJA Growth Ltd rents office space to The Virtual Legal Counsel Ltd and the total amount of rent paid for the year is £66,250 (2023: £45,243).

Included in debtors: amounts falling due within one year is a director’s loan account in the sum of £142,993 (2023: £111,079) which has been provided to Mr Jonathan Oddy. Interest has been charged on the loan in line with HMRC rates.

8. SHARE CAPITAL

On 1 February 2024, the company sub-divided 4 Ordinary £1 Shares in to 320 Ordinary £0.0125 Shares.

On 2 February 2024, the company allotted 80 B Ordinary £0.0125 Shares for a consideration of £0.0125 per share.