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REGISTERED NUMBER: 08232170















Virtue Projects Ltd

Unaudited Financial Statements for the Year Ended 31 December 2024






Virtue Projects Ltd (Registered number: 08232170)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Virtue Projects Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Mr T Charalambous
Mrs I Charalambous



REGISTERED OFFICE: 97 Judd Street
London
WC1H 9JG



REGISTERED NUMBER: 08232170



ACCOUNTANTS: Chris Syrimis & Co
Chartered Certified Accountants
97 Judd Street
London
WC1H 9JG



BANKERS: HSBC
88 The Broadway
Muswell Hill
London
N10 3RX

Virtue Projects Ltd (Registered number: 08232170)

Balance Sheet
31 December 2024

31/12/24 31/12/23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 41,153 49,001

CURRENT ASSETS
Stocks 31,900 50,985
Debtors 5 159,179 48,106
Cash at bank and in hand 173,807 42,025
364,886 141,116
CREDITORS
Amounts falling due within one year 6 236,283 76,932
NET CURRENT ASSETS 128,603 64,184
TOTAL ASSETS LESS CURRENT
LIABILITIES

169,756

113,185

CREDITORS
Amounts falling due after more than one
year

7

10,837

15,731
NET ASSETS 158,919 97,454

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 158,909 97,444
SHAREHOLDERS' FUNDS 158,919 97,454

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Virtue Projects Ltd (Registered number: 08232170)

Balance Sheet - continued
31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 May 2025 and were signed on its behalf by:





Mr T Charalambous - Director


Virtue Projects Ltd (Registered number: 08232170)

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

1. STATUTORY INFORMATION

Virtue Projects Ltd is a private company, limited by shares , registered in Not specified/Other. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Virtue Projects Ltd (Registered number: 08232170)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 112,200
Additions 2,332
At 31 December 2024 114,532
DEPRECIATION
At 1 January 2024 63,199
Charge for year 10,180
At 31 December 2024 73,379
NET BOOK VALUE
At 31 December 2024 41,153
At 31 December 2023 49,001

Virtue Projects Ltd (Registered number: 08232170)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade debtors 118,170 4,556
Amounts owed by associates 41,009 41,009
Other debtors - 2,541
159,179 48,106

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade creditors 7,901 2,238
Amounts owed to associates 45,869 41,003
Taxation and social security 177,258 29,957
Other creditors 5,255 3,734
236,283 76,932

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31/12/24 31/12/23
£    £   
Bank loans 10,837 15,731

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 10,837 15,731