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VR Consultants Limited

Annual Report and Unaudited Financial Statements
Year Ended 30 June 2024

Registration number: 07431449

 

VR Consultants Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

VR Consultants Limited

Balance Sheet

30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Other financial assets

4

1,555

1,555

Current assets

 

Debtors

5

76,959

112,330

Cash at bank and in hand

 

15,092

137

 

92,051

112,467

Creditors: Amounts falling due within one year

6

(3,261)

(7,502)

Net current assets

 

88,790

104,965

Net assets

 

90,345

106,520

Capital and reserves

 

Called up share capital

7

100

100

Profit and loss account

90,245

106,420

Shareholders' funds

 

90,345

106,520

 

VR Consultants Limited

Balance Sheet

30 June 2024

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 27 March 2025 and signed on its behalf by:
 

.........................................

Mr R O Vaughton

Director

Company Registration Number: 07431449

 

VR Consultants Limited

Notes to the Unaudited Financial Statements

Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF

The principal place of business is:
Science Park Centre
6 Babbage Way
Clyst Honiton
Exeter
Devon
EX5 2FN

These financial statements were authorised for issue by the Board on 27 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The functional and presentation currency is pounds sterling.

Going concern

In the opinion of the directors, the company has sufficient support from it's shareholders and bankers to continue to trade for the foreseeable future, and therefore the financial statements have been prepared on a going concern basis.

 

VR Consultants Limited

Notes to the Unaudited Financial Statements

Year Ended 30 June 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors and;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

VR Consultants Limited

Notes to the Unaudited Financial Statements

Year Ended 30 June 2024

4

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 July 2023

1,555

1,555

At 30 June 2024

1,555

1,555

Carrying amount

At 30 June 2024

1,555

1,555

At 30 June 2023

1,555

1,555

5

Debtors

2024
£

2023
£

Other debtors

76,959

112,330

76,959

112,330

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

1,500

4,741

Other creditors

1,761

2,761

3,261

7,502

 

VR Consultants Limited

Notes to the Unaudited Financial Statements

Year Ended 30 June 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100