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REGISTERED NUMBER: 03968859 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

VIRTUSALES.COM LIMITED

VIRTUSALES.COM LIMITED (REGISTERED NUMBER: 03968859)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


VIRTUSALES.COM LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: C D Meek
P Turner





SECRETARY: P Turner





REGISTERED OFFICE: The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ





REGISTERED NUMBER: 03968859 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

VIRTUSALES.COM LIMITED (REGISTERED NUMBER: 03968859)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 94,697 125,407
Investments 5 25,719 25,719
120,416 151,126

CURRENT ASSETS
Debtors 6 2,520,812 1,888,213
Cash at bank 1,322,344 1,729,738
3,843,156 3,617,951
CREDITORS
Amounts falling due within one year 7 3,297,516 2,062,058
NET CURRENT ASSETS 545,640 1,555,893
TOTAL ASSETS LESS CURRENT
LIABILITIES

666,056

1,707,019

PROVISIONS FOR LIABILITIES 23,145 23,942
NET ASSETS 642,911 1,683,077

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 642,909 1,683,075
SHAREHOLDERS' FUNDS 642,911 1,683,077

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 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.

The financial statements were approved by the Board of Directors and authorised for issue on 28 January 2025 and were signed on its behalf by:





P Turner - Director


VIRTUSALES.COM LIMITED (REGISTERED NUMBER: 03968859)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Virtusales.com Limited 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 applicable UK accounting standards including the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents sales of services net of VAT. Turnover is recognised at the point the customer is entitled to consideration.

Turnover also represents sales of goods net of VAT and trade discounts. Turnover is recognised at the point the goods are physically delivered to the customer.

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 - 33% on cost
Fixtures and fittings - 25% on reducing balance
Bikes - 100% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 69 (2023 - 68 ) .

VIRTUSALES.COM LIMITED (REGISTERED NUMBER: 03968859)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings Bikes equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 10,437 47,830 1,292 633,249 692,808
Additions - - - 43,786 43,786
At 30 April 2024 10,437 47,830 1,292 677,035 736,594
DEPRECIATION
At 1 May 2023 10,437 44,445 515 512,004 567,401
Charge for year - 846 777 72,657 74,280
Eliminated on disposal - - - 216 216
At 30 April 2024 10,437 45,291 1,292 584,877 641,897
NET BOOK VALUE
At 30 April 2024 - 2,539 - 92,158 94,697
At 30 April 2023 - 3,385 777 121,245 125,407

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 May 2023
and 30 April 2024 25,719
NET BOOK VALUE
At 30 April 2024 25,719
At 30 April 2023 25,719

The following investments have been held during the year:

Virtusales GmbH
Nature of business: Publishing Location: Germany
%
Class of shares: holding
Ordinary 100

Virtusales LLC
Nature of business: Publishing Location: USA
%
Class of shares: holding
Ordinary 100

Virtusales Canada Inc.
Nature of business: Publishing Location: Canada
%
Class of shares: holding
Ordinary 100

VIRTUSALES.COM LIMITED (REGISTERED NUMBER: 03968859)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 863,171 461,084
Other debtors 58,140 120
Accrued income 1,443,441 1,347,289
Prepayments 156,060 79,720
2,520,812 1,888,213

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 85,423 29,486
Tax 3,641 -
Social security and other taxes 146,774 140,370
VAT 126,291 111,110
Other creditors 977,529 379,003
Directors' current accounts 37,725 40,285
Accruals and deferred income 1,920,133 1,361,804
3,297,516 2,062,058

8. DIRECTORS' LOANS

During the year, P Turner decreased his loan to the company. As at the year end, the company owed him £20,011 (2023: £20,034).

During the year, C Meek decreased his loan to the company. As at the year end, the company owed him £17,714 (2023: £20,251).

These balances represent the maximum amounts outstanding during the year.

9. RELATED PARTY DISCLOSURES

Virtusales.com Limited controls Virtusales Canada Inc, Virtusales GmbH and Virtusales LLC.

10. ULTIMATE CONTROLLING PARTY

The controlling party is C D Meek and P Turner.

This was by virtue of their 100% holding of the issued share capital.