Company registration number: 13312586
Unaudited financial statements
for the period ended 31 December 2024
for
Virtus Financial Planning Limited
Pages for filing with the Registrar
Company registration number: 13312586
Virtus Financial Planning Limited
Balance sheet
as at 31 December 2024
31 Dec 24 5 Apr 24
Note £ £ £ £
Fixed assets
Intangible assets 4 1,206,562 1,337,536
Tangible assets 5 4,335 5,200
Investments 6 10,000 10,000
1,220,897 1,352,736
Current assets
Debtors 57,702 145,839
Cash at bank and in hand 207,476 65,604
265,178 211,443
Creditors: amounts falling due within one
year
(341,428) (295,086)
Net current liabilities (76,250) (83,643)
Total assets less current liabilities 1,144,647 1,269,093
Creditors: Amounts falling due after more
than one year
(1,114,054) (1,244,751)
NET ASSETS 30,593 24,342
Capital and reserves
Called up share capital 20 20
Profit and loss account 30,573 24,322
TOTAL EQUITY 30,593 24,342
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the period ended 31 December 2024.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 13312586
Virtus Financial Planning Limited
Balance sheet - continued
as at 31 December 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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 12 February 2025 and signed on its behalf by:
Mr R Phillips, Director Mrs O Phillips, Director
12 February 2025 12 February 2025
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Virtus Financial Planning Limited
Notes to the financial statements
for the period ended 31 December 2024
1 Company information
Virtus Financial Planning Limited is a private company registered in England and Wales. Its registered number is 13312586. The company is limited by shares. Its registered office is 85 Great Portland Street, London, W1W 7LT.
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 historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Book of clients - 10% straight line
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery:
Office Furniture - 25% reducing balance
Computer equipment - 25% straight line
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Virtus Financial Planning Limited
Notes to the financial statements - continued
for the period ended 31 December 2024
2 Accounting policies - continued
Taxation
Taxation for the period comprises current taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current 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.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the period the average number of employees was 5 (2024 - 3).
4 Intangible assets
Book of
clients
£
Cost
At 6 April 2024 1,746,317
At 31 December 2024 1,746,317
Amortisation
At 6 April 2024 408,781
Charge for period 130,974
At 31 December 2024 539,755
Net book value
At 31 December 2024 1,206,562
At 5 April 2024 1,337,536
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Virtus Financial Planning Limited
Notes to the financial statements - continued
for the period ended 31 December 2024
5 Tangible fixed assets
Plant and
machinery
£
Cost
At 6 April 2024 9,523
Additions 1,039
At 31 December 2024 10,562
Depreciation
At 6 April 2024 4,323
Charge for period 1,904
At 31 December 2024 6,227
Net book value
At 31 December 2024 4,335
At 5 April 2024 5,200
6 Fixed asset investments
Investments other than loans
Other

investments
other than lo
£
Cost
At 6 April 2024 10,000
At 31 December 2024 10,000
Net book value
At 31 December 2024 10,000
At 5 April 2024 10,000
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Virtus Financial Planning Limited
Notes to the financial statements - continued
for the period ended 31 December 2024
7 Advances, credit and guarantees granted to directors
The following advances and credits to a director subsisted during the periods ended 31 December 2024 and 5 April 2024.
31 Dec 24 5 Apr 24
£ £
Mr R Phillips
Balance outstanding at start of period 100,000 -
Amounts advanced 60 100,000
Amounts repaid (100,000) -
Balance outstanding at end of period 60 100,000
8 Period of Account
The comparative figures are not directly comparable due to differing lengths of time. This period of account covers 8 months and 25 days whereas the prior period was 12 months long.
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