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REGISTERED NUMBER: 12000460 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Virtue (Staffs) Ltd

Virtue (Staffs) Ltd (Registered number: 12000460)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Virtue (Staffs) Ltd (Registered number: 12000460)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 59,543 52,003

CURRENT ASSETS
Debtors 5 100,323 115,758
Cash at bank 45,836 95,608
146,159 211,366
CREDITORS
Amounts falling due within one year 6 99,493 167,177
NET CURRENT ASSETS 46,666 44,189
TOTAL ASSETS LESS CURRENT LIABILITIES 106,209 96,192

CREDITORS
Amounts falling due after more than one year 7 (63,150 ) (51,612 )

PROVISIONS FOR LIABILITIES (14,886 ) (13,000 )
NET ASSETS 28,173 31,580

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 27,173 30,580
SHAREHOLDERS' FUNDS 28,173 31,580

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 February 2025 and were signed on its behalf by:





Miss M Khan - Director


Virtue (Staffs) Ltd (Registered number: 12000460)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Virtue (Staffs) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12000460

Registered office: Lower House Farm Stanley Bank
Stanley
Stoke-On-Trent
ST9 9LT

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced.

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 - 25% on reducing balance
Motor vehicles - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. 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 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Virtue (Staffs) Ltd (Registered number: 12000460)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

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 5 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 June 2023 34,630 53,088 87,718
Additions - 45,390 45,390
Disposals - (36,250 ) (36,250 )
At 31 May 2024 34,630 62,228 96,858
DEPRECIATION
At 1 June 2023 15,151 20,564 35,715
Charge for year 4,869 11,234 16,103
Eliminated on disposal - (14,503 ) (14,503 )
At 31 May 2024 20,020 17,295 37,315
NET BOOK VALUE
At 31 May 2024 14,610 44,933 59,543
At 31 May 2023 19,479 32,524 52,003

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 June 2023 53,088
Additions 43,590
Disposals (36,250 )
At 31 May 2024 60,428
DEPRECIATION
At 1 June 2023 20,564
Charge for year 10,874
Eliminated on disposal (14,503 )
At 31 May 2024 16,935
NET BOOK VALUE
At 31 May 2024 43,493
At 31 May 2023 32,524

Virtue (Staffs) Ltd (Registered number: 12000460)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 95,895 111,694
Other debtors 4,428 4,064
100,323 115,758

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,552 5,552
Hire purchase contracts 11,263 9,049
Trade creditors 9,626 14,640
Taxation and social security 25,914 12,501
Other creditors 47,138 125,435
99,493 167,177

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 27,786 33,339
Hire purchase contracts 35,364 18,273
63,150 51,612

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 5,577 11,130

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 46,627 27,322

Hire purchase contracts are secured against the assets to which they relate.