REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
VIRTUSALES.COM LIMITED |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
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 financial statements were approved by the Board of Directors and authorised for issue on |
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 |
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 |
Plant and machinery | - |
Fixtures and fittings | - |
Bikes | - |
Computer equipment | - |
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 |
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 |
Additions |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
Eliminated on disposal |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 May 2023 |
and 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
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 |
Other debtors |
Accrued income |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 126,291 | 111,110 |
Other creditors |
Directors' current accounts | 37,725 | 40,285 |
Accruals and deferred income |
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. |