Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01truetrueNo description of principal activityfalse11false SC523656 2023-04-01 2024-03-31 SC523656 2024-03-31 SC523656 2022-04-01 2023-03-31 SC523656 2023-03-31 SC523656 c:Director1 2023-04-01 2024-03-31 SC523656 d:CurrentFinancialInstruments 2024-03-31 SC523656 d:CurrentFinancialInstruments 2023-03-31 SC523656 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 SC523656 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC523656 d:ShareCapital 2024-03-31 SC523656 d:ShareCapital 2023-03-31 SC523656 d:RetainedEarningsAccumulatedLosses 2024-03-31 SC523656 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC523656 c:OrdinaryShareClass1 2023-04-01 2024-03-31 SC523656 c:OrdinaryShareClass1 2024-03-31 SC523656 c:OrdinaryShareClass1 2023-03-31 SC523656 c:FRS102 2023-04-01 2024-03-31 SC523656 c:Audited 2023-04-01 2024-03-31 SC523656 c:FullAccounts 2023-04-01 2024-03-31 SC523656 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC523656 c:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC523656 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Company Registration Number SC523656























VIRTUAL FACILITIES SERVICES LTD (FORMERLY VIRTUAL FM PROJECTS LIMITED)





DIRECTOR'S REPORT AND AUDITED FINANCIAL STATEMENTS





FOR THE YEAR ENDED 31 MARCH 2024























img3d57.png

 
VIRTUAL FACILITIES SERVICES LTD (FORMERLY VIRTUAL FM PROJECTS LIMITED)
REGISTERED NUMBER: SC523656

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
Unaudited
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
113,871
-

Cash at bank and in hand
  
12,365
100

  
126,236
100

Creditors: amounts falling due within one year
 6 
(126,039)
-

Net current assets
  
 
 
197
 
 
100

Total assets less current liabilities
  
197
100

  

Net assets
  
197
100


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
97
-

  
197
100


The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Grant James Currie
Director

Date: 31 March 2025

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
VIRTUAL FACILITIES SERVICES LTD (FORMERLY VIRTUAL FM PROJECTS LIMITED)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Virtual Facilities Services Ltd is a private company, limited by shares, registered in Scotland. The company's registered number is SC523656 and the registered office address and principle place of business is Scottish Enterprise Technology Park Orion House, Bramah Avenue, East Kilbride, Scotland, G75 0RD.
The financial statements are presented in pound sterling, rounded to the nearest pound, as this is the currency of the primary economic environment in which the company operates.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

In  preparing  these  financial  statements,  the  directors  of  the  company  have  given  careful
consideration to current and anticipated future solvency requirements of the company and its ability to continue as a going concern for the foreseeable future. The Directors have prepared the financial
statements on a going concern basis. 
Virtual FM Limited, a fellow group company, has confirmed that, for at least 12 months from the date
of signing the accounts, it will make available such funds as are needed by Virtual Facilities Services Limited to meet its third party liabilities as they fall due. In addition, Virtual FM Limited will not seek repayment of any amounts currently  due  to  Virtual FM Limited  if  this  would prevent Virtual Facilities Services Limited  from meeting its third party obligations as they fall due.
Based on the above, the directors believe it remains appropriate to prepare the financial statements
on a going concern basis.





Page 2

 
VIRTUAL FACILITIES SERVICES LTD (FORMERLY VIRTUAL FM PROJECTS LIMITED)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of these financial statements requires management to make judgments, estimates and
assumptions that affect the application of policies and reported amounts of assets and liabilities, income
and expenses.
Judgments and estimates are continually evaluated and are based on historical experiences and other
factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results.
There no key sources of estimation uncertainty in applying accounting policies in the financial statements.

Page 3

 
VIRTUAL FACILITIES SERVICES LTD (FORMERLY VIRTUAL FM PROJECTS LIMITED)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Average number of employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).







5.


Debtors

2024
2023
£
£


Trade debtors
72,412
-

Amounts owed by group undertakings
41,359
-

Other debtors
100
-

113,871
-



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
18,903
-

Amounts owed to group undertakings
90,850
-

Other taxation and social security
16,286
-

126,039
-



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



8.


Related party transactions

As at 31 March 2024, Virtual Facilities Services Ltd owed £90,850 (2023: £Nil) to an associated company. The amounts are unsecured, interest-free and repayable on demand.
As at 31 March 2024, the parent company owed £41,359 (2023: £Nil) to Virtual Facilities Services Ltd. The amounts are unsecured, interest-free and repayable on demand.

Page 4

 
VIRTUAL FACILITIES SERVICES LTD (FORMERLY VIRTUAL FM PROJECTS LIMITED)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Controlling party

Virtual Facilities Services Limited is a wholly owned subsidiary of Virtual Group Holdings Limited, a private company registered in Scotland. Its registered office is Scottish Enterprise Technology Park, Orion House, Bramah Avenue, East Kilbride, Scotland, G75 0RD.
The largest and smallest group that prepares consolidated financial statements including the company is that headed by Virtual Group Holdings Limited. Copies of the consolidated financial statements may be obtained from Companies House and the registered address.
The ultimate controlling party is Grant James Currie and Adrienne Mary Mcarthur Currie.


10.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2024 was unqualified.

The audit report was signed on 31 March 2025 by Martin Johnston CA (Senior Statutory Auditor) on behalf of Armstrong Watson Audit Limited.


Page 5