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Company Registration No. 09477156 (England and Wales)
Virdi Fashions Limited Unaudited accounts for the year ended 31 March 2024
Virdi Fashions Limited Unaudited accounts Contents
Page
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Virdi Fashions Limited Company Information for the year ended 31 March 2024
Director
Mrs A Virdi
Company Number
09477156 (England and Wales)
Registered Office
14 Wesley Drive Egham Surrey TW20 9JB
Accountants
P10 Accountancy Ltd 77A Richmond Road Twickenham TW1 3AW
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Virdi Fashions Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
6,973 
7,845 
Current assets
Inventories
58,300 
62,000 
Debtors
954 
940 
Cash at bank and in hand
313 
1,611 
59,567 
64,551 
Creditors: amounts falling due within one year
(210,268)
(179,710)
Net current liabilities
(150,701)
(115,159)
Total assets less current liabilities
(143,728)
(107,314)
Creditors: amounts falling due after more than one year
(28,667)
(15,167)
Net liabilities
(172,395)
(122,481)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(172,396)
(122,482)
Shareholders' funds
(172,395)
(122,481)
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 March 2025 and were signed on its behalf by
Mrs A Virdi Director Company Registration No. 09477156
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Virdi Fashions Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Virdi Fashions Limited is a private company, limited by shares, registered in England and Wales, registration number 09477156. The registered office is 14 Wesley Drive, Egham , Surrey, TW20 9JB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Reducing Balance
Computer equipment
25% Reducing Balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Virdi Fashions Limited Notes to the Accounts for the year ended 31 March 2024
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Presentation currency
The accounts are presented in £ sterling.
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
20,044 
1,161 
21,205 
Additions
- 
1,452 
1,452 
At 31 March 2024
20,044 
2,613 
22,657 
Depreciation
At 1 April 2023
13,070 
290 
13,360 
Charge for the year
1,743 
581 
2,324 
At 31 March 2024
14,813 
871 
15,684 
Net book value
At 31 March 2024
5,231 
1,742 
6,973 
At 31 March 2023
6,974 
871 
7,845 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
120 
- 
Amounts due from group undertakings etc.
810 
810 
Accrued income and prepayments
24 
130 
954 
940 
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Virdi Fashions Limited Notes to the Accounts for the year ended 31 March 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
7,000 
7,000 
VAT
13,239 
6,447 
Trade creditors
12,534 
(1,185)
Amounts owed to group undertakings and other participating interests
155,594 
154,921 
Taxes and social security
15,448 
884 
Other creditors
- 
7,789 
Loans from directors
4,953 
1,304 
Accruals
1,500 
2,550 
210,268 
179,710 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
28,667 
15,167 
8
Average number of employees
During the year the average number of employees was 5 (2023: 5).
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