REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 April 2024 |
for |
THE VIRTUAL LEGAL COUNSEL LTD |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
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 |
4. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 May 2023 |
Additions |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
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 |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
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. |