2023-06-012024-05-312024-05-31false10775942VITRUE LTD2025-02-24falseiso4217:GBPxbrli:pure107759422023-06-01107759422024-05-31107759422023-06-012024-05-31107759422022-06-01107759422023-05-31107759422022-06-012023-05-3110775942bus:SmallEntities2023-06-012024-05-3110775942bus:AuditExempt-NoAccountantsReport2023-06-012024-05-3110775942bus:AbridgedAccounts2023-06-012024-05-3110775942bus:PrivateLimitedCompanyLtd2023-06-012024-05-3110775942core:WithinOneYear2024-05-3110775942core:AfterOneYear2024-05-3110775942core:WithinOneYear2023-05-3110775942core:AfterOneYear2023-05-3110775942core:ShareCapital2024-05-3110775942core:SharePremium2024-05-3110775942core:RevaluationReserve2024-05-3110775942core:OtherReservesSubtotal2024-05-3110775942core:RetainedEarningsAccumulatedLosses2024-05-3110775942core:ShareCapital2023-05-3110775942core:SharePremium2023-05-3110775942core:RevaluationReserve2023-05-3110775942core:OtherReservesSubtotal2023-05-3110775942core:RetainedEarningsAccumulatedLosses2023-05-3110775942core:LandBuildings2024-05-3110775942core:PlantMachinery2024-05-3110775942core:Vehicles2024-05-3110775942core:FurnitureFittings2024-05-3110775942core:OfficeEquipment2024-05-3110775942core:NetGoodwill2024-05-3110775942core:IntangibleAssetsOtherThanGoodwill2024-05-3110775942core:ListedExchangeTraded2024-05-3110775942core:UnlistedNon-exchangeTraded2024-05-3110775942core:LandBuildings2023-05-3110775942core:PlantMachinery2023-05-3110775942core:Vehicles2023-05-3110775942core:FurnitureFittings2023-05-3110775942core:OfficeEquipment2023-05-3110775942core:NetGoodwill2023-05-3110775942core:IntangibleAssetsOtherThanGoodwill2023-05-3110775942core:ListedExchangeTraded2023-05-3110775942core:UnlistedNon-exchangeTraded2023-05-3110775942core:LandBuildings2023-06-012024-05-3110775942core:PlantMachinery2023-06-012024-05-3110775942core:Vehicles2023-06-012024-05-3110775942core:FurnitureFittings2023-06-012024-05-3110775942core:OfficeEquipment2023-06-012024-05-3110775942core:NetGoodwill2023-06-012024-05-3110775942core:IntangibleAssetsOtherThanGoodwill2023-06-012024-05-3110775942core:ListedExchangeTraded2023-06-012024-05-3110775942core:UnlistedNon-exchangeTraded2023-06-012024-05-3110775942core:MoreThanFiveYears2023-06-012024-05-3110775942core:Non-currentFinancialInstruments2024-05-3110775942core:Non-currentFinancialInstruments2023-05-3110775942dpl:CostSales2023-06-012024-05-3110775942dpl:DistributionCosts2023-06-012024-05-3110775942core:LandBuildings2023-06-012024-05-3110775942core:PlantMachinery2023-06-012024-05-3110775942core:Vehicles2023-06-012024-05-3110775942core:FurnitureFittings2023-06-012024-05-3110775942core:OfficeEquipment2023-06-012024-05-3110775942dpl:AdministrativeExpenses2023-06-012024-05-3110775942core:NetGoodwill2023-06-012024-05-3110775942core:IntangibleAssetsOtherThanGoodwill2023-06-012024-05-3110775942dpl:GroupUndertakings2023-06-012024-05-3110775942dpl:ParticipatingInterests2023-06-012024-05-3110775942dpl:GroupUndertakingscore:ListedExchangeTraded2023-06-012024-05-3110775942core:ListedExchangeTraded2023-06-012024-05-3110775942dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-06-012024-05-3110775942core:UnlistedNon-exchangeTraded2023-06-012024-05-3110775942dpl:CostSales2022-06-012023-05-3110775942dpl:DistributionCosts2022-06-012023-05-3110775942core:LandBuildings2022-06-012023-05-3110775942core:PlantMachinery2022-06-012023-05-3110775942core:Vehicles2022-06-012023-05-3110775942core:FurnitureFittings2022-06-012023-05-3110775942core:OfficeEquipment2022-06-012023-05-3110775942dpl:AdministrativeExpenses2022-06-012023-05-3110775942core:NetGoodwill2022-06-012023-05-3110775942core:IntangibleAssetsOtherThanGoodwill2022-06-012023-05-3110775942dpl:GroupUndertakings2022-06-012023-05-3110775942dpl:ParticipatingInterests2022-06-012023-05-3110775942dpl:GroupUndertakingscore:ListedExchangeTraded2022-06-012023-05-3110775942core:ListedExchangeTraded2022-06-012023-05-3110775942dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-06-012023-05-3110775942core:UnlistedNon-exchangeTraded2022-06-012023-05-3110775942core:NetGoodwill2024-05-3110775942core:IntangibleAssetsOtherThanGoodwill2024-05-3110775942core:LandBuildings2024-05-3110775942core:PlantMachinery2024-05-3110775942core:Vehicles2024-05-3110775942core:FurnitureFittings2024-05-3110775942core:OfficeEquipment2024-05-3110775942core:AfterOneYear2024-05-3110775942core:WithinOneYear2024-05-3110775942core:ListedExchangeTraded2024-05-3110775942core:UnlistedNon-exchangeTraded2024-05-3110775942core:ShareCapital2024-05-3110775942core:SharePremium2024-05-3110775942core:RevaluationReserve2024-05-3110775942core:OtherReservesSubtotal2024-05-3110775942core:RetainedEarningsAccumulatedLosses2024-05-3110775942core:NetGoodwill2023-05-3110775942core:IntangibleAssetsOtherThanGoodwill2023-05-3110775942core:LandBuildings2023-05-3110775942core:PlantMachinery2023-05-3110775942core:Vehicles2023-05-3110775942core:FurnitureFittings2023-05-3110775942core:OfficeEquipment2023-05-3110775942core:AfterOneYear2023-05-3110775942core:WithinOneYear2023-05-3110775942core:Liste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VITRUE LTD

Registered Number
10775942
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

VITRUE LTD
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

BRUCE, Christopher David Alexander
HASLEHURST, Alexandra
LOWE, Shane, Dr.
MENASHY, Simon Jonathan
SHARP, Nicholas

Registered Address

Floor 1, 15 Ironmonger Row 15 Ironmonger Row
Floor 1
London
EC1V 3QG

Registered Number

10775942 (England and Wales)
VITRUE LTD
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets316,68212,025
16,68212,025
Current assets
Debtors4138,7173,363
Cash at bank and on hand2,164,470432,792
2,303,187436,155
Creditors amounts falling due within one year5(303,770)(162,281)
Net current assets (liabilities)1,999,417273,874
Total assets less current liabilities2,016,099285,899
Creditors amounts falling due after one year6-(105,228)
Net assets2,016,099180,671
Capital and reserves
Called up share capital22
Share premium4,907,5051,711,889
Profit and loss account(2,891,408)(1,531,220)
Shareholders' funds2,016,099180,671
The financial statements were approved and authorised for issue by the Board of Directors on 24 February 2025, and are signed on its behalf by:
LOWE, Shane, Dr.
Director
Registered Company No. 10775942
VITRUE LTD
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the next 12 months. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover represents the total amount of revenue recognized by the company for the provision of its SaaS solutions, including related services such as development, training, maintenance, and support. Turnover is measured at the fair value of the consideration received or receivable, excluding VAT, discounts, and other sales taxes.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery3
Office Equipment3
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year1912
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 June 2346,101
Additions12,611
At 31 May 2458,712
Depreciation and impairment
At 01 June 2334,076
Charge for year7,954
At 31 May 2442,030
Net book value
At 31 May 2416,682
At 31 May 2312,025
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables23,487-
Other debtors55,3901,585
Prepayments and accrued income59,8401,778
Total138,7173,363
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables10,438-
Taxation and social security42,60351,106
Other creditors4,60425,533
Accrued liabilities and deferred income246,12585,642
Total303,770162,281
6.Creditors: amounts due after one year

2024

2023

££
Other creditors-105,228
Total-105,228
7.Operating lease commitments
At 31 May 2024, the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods: Not later than one year: £240,000 (2023: £43,948) Later than one year and not later than five years: £80,000 (2023: £Nil)
8.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
HASLEHURST, Alexandra12,870012,8700
LOWE, Shane, Dr.12,341012,3410
25,211025,2110