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Registration number: 09910955

Virtual Affinity Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Virtual Affinity Limited

(Registration number: 09910955)

Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

4,323

3,220

Current assets

 

Debtors

4

39,664

37,203

Cash at bank and in hand

 

135,662

110,663

 

175,326

147,866

Creditors: Amounts falling due within one year

5

(13,654)

(24,890)

Net current assets

 

161,672

122,976

Net assets

 

165,995

126,196

Capital and reserves

 

Called up share capital

1

1

Retained earnings

165,994

126,195

Shareholders' funds

 

165,995

126,196

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges 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 delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Director's Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the director on 16 April 2025
 

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

D Jopling

Director

 

Virtual Affinity Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

Accounting policies

Statutory information

Virtual Affinity Limited is a private company, limited by shares, domiciled in England and Wales, company number 09910955. The registered office is at 19 Victoria Road, Bamford, , Hope Valley, S33 0BS.

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 except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

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 sales/value added tax, returns, rebates and discounts.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% straight line

 

Virtual Affinity Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

1

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of income and retained earnings.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Virtual Affinity Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

3

Tangible assets

Office equipment
£

Cost or valuation

At 1 January 2024

13,367

Additions

3,286

At 31 December 2024

16,653

Depreciation

At 1 January 2024

10,147

Charge for the year

2,183

At 31 December 2024

12,330

Carrying amount

At 31 December 2024

4,323

At 31 December 2023

3,220

4

Debtors

Current

2024
£

2023
£

Trade debtors

730

533

Other debtors

38,934

36,670

 

39,664

37,203

5

Creditors

2024
£

2023
£

Due within one year

Taxation and social security

12,154

23,390

Accruals and deferred income

1,500

1,500

13,654

24,890

6

Related party transactions

During the year the director had an interest free loan with the company. At the balance sheet date the amount owing to the company was £25,733 (2023: £26,045)