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REGISTERED NUMBER: 08047761 (England and Wales)







Unaudited Financial Statements for the Year Ended 30 June 2024

for

Virtually There Offices Limited

Virtually There Offices Limited (Registered number: 08047761)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Virtually There Offices Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: E Thoemmes
J W Head
R W Head





REGISTERED OFFICE: Henleaze House
Harbury Road
Bristol
BS9 4PN





REGISTERED NUMBER: 08047761 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY

Virtually There Offices Limited (Registered number: 08047761)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 366,793 271,111
Tangible assets 5 14,359 9,839
381,152 280,950

CURRENT ASSETS
Debtors 6 120,682 99,693
Cash at bank 138,898 174,584
259,580 274,277
CREDITORS
Amounts falling due within one year 7 487,713 305,945
NET CURRENT LIABILITIES (228,133 ) (31,668 )
TOTAL ASSETS LESS CURRENT LIABILITIES 153,019 249,282

CREDITORS
Amounts falling due after more than one year 8 27,632 33,474
NET ASSETS 125,387 215,808

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 124,387 214,808
SHAREHOLDERS' FUNDS 125,387 215,808

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Virtually There Offices Limited (Registered number: 08047761)

Balance Sheet - continued
30 June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:





E Thoemmes - Director


Virtually There Offices Limited (Registered number: 08047761)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Virtually There Offices Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.

Intangible fixed assets and amortisation - other intangible
Other intangible assets are website costs. It is amortised to profit and loss account over its estimated economic life of 5 years.

Tangible fixed assets and depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.
Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings 20% Straight Line
Computer Equipment 20% Straight Line

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.

Research and development
Expenditure on research is written off in the year it is incurred. Development Costs are capitalised and amortised over its estimated economic life of 7 years.

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.

Virtually There Offices Limited (Registered number: 08047761)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Leasing and hire purchase contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023 372,827
Additions 159,890
At 30 June 2024 532,717
AMORTISATION
At 1 July 2023 101,716
Charge for year 64,208
At 30 June 2024 165,924
NET BOOK VALUE
At 30 June 2024 366,793
At 30 June 2023 271,111

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2023 6,116 15,096 21,212
Additions 2,653 5,937 8,590
At 30 June 2024 8,769 21,033 29,802
DEPRECIATION
At 1 July 2023 2,605 8,768 11,373
Charge for year 1,329 2,741 4,070
At 30 June 2024 3,934 11,509 15,443
NET BOOK VALUE
At 30 June 2024 4,835 9,524 14,359
At 30 June 2023 3,511 6,328 9,839

Virtually There Offices Limited (Registered number: 08047761)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. DEBTORS
30.6.24 30.6.23
£    £   
Amounts falling due within one year:
Trade debtors 78,891 63,872
Other debtors 1,080 1,180
Prepayments 10,119 8,839
90,090 73,891

Amounts falling due after more than one year:
Other debtors 30,592 25,802

Aggregate amounts 120,682 99,693

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 6,931 6,931
Trade creditors 30,925 17,569
Tax 53,771 22,516
Social security and other taxes 15,458 4,925
VAT 59,469 36,993
Other creditors 22,767 13,096
Directors' loan accounts 34,348 7,357
Accruals and deferred income 264,044 196,558
487,713 305,945

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans 27,632 33,474

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
1,000 Ordinary 1 1,000 1,000