Registered number
07410063
The Virtual Sales Director Limited
Filleted Accounts
31 October 2024
The Virtual Sales Director Limited
Registered number: 07410063
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 218 114
Current assets
Stocks 652 652
Debtors 5 28,842 41,078
Cash at bank and in hand 10,050 13,717
39,544 55,447
Creditors: amounts falling due within one year 6 (46,089) (10,957)
Net current (liabilities)/assets (6,545) 44,490
Total assets less current liabilities (6,327) 44,604
Creditors: amounts falling due after more than one year 7 (4,939) (44,153)
Net (liabilities)/assets (11,266) 451
Capital and reserves
Called up share capital 202 202
Profit and loss account (11,468) 249
Shareholder's funds (11,266) 451
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr R Marsh
Director
Approved by the board on 14 March 2025
The Virtual Sales Director Limited
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment over 3 years
Fixtures, fittings, tools and equipment over 4 years
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
2 Going concern
The company has an excess of liabilities over assets at 31 October 2024 and the company's ability to continue trading is dependant on the full support of the company's directors and shareholders. The directors consider that the company will continue to trade for the foreseeable future and accordingly the financial statements are prepared on a going concern basis.
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
4 Tangible fixed assets
Equipment
£
Cost
At 1 November 2023 11,284
Additions 290
At 31 October 2024 11,574
Depreciation
At 1 November 2023 11,170
Charge for the year 186
At 31 October 2024 11,356
Net book value
At 31 October 2024 218
At 31 October 2023 114
5 Debtors 2024 2023
£ £
Other debtors 28,842 41,078
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 38,700 699
Taxation and social security costs 6,444 9,528
Other creditors 945 730
46,089 10,957
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 4,939 9,153
Other creditors - 35,000
4,939 44,153
8 Other information
The Virtual Sales Director Limited is a private company limited by shares and incorporated in England. Its registered office is:
34 Croydon Road
Caterham
Surrey
CR3 6QB
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