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Company No: 02970311 (England and Wales)

VIRDISGROUP LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

VIRDISGROUP LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

VIRDISGROUP LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2024
VIRDISGROUP LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024
DIRECTORS P Kearney
N A Rowell
REGISTERED OFFICE Prama House
267 Banbury Road
Oxford
OX2 7HT
United Kingdom
COMPANY NUMBER 02970311 (England and Wales)
ACCOUNTANT S&W Partners (Thames Valley) Limited
22 Wycombe End
Beaconsfield
Buckinghamshire
HP9 1NB
VIRDISGROUP LIMITED

BALANCE SHEET

As at 31 December 2024
VIRDISGROUP LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 368,579 390,319
368,579 390,319
Current assets
Debtors 4 82,095 62,875
Cash at bank and in hand 13,317 7,244
95,412 70,119
Creditors: amounts falling due within one year 5 ( 449,176) ( 455,864)
Net current liabilities (353,764) (385,745)
Total assets less current liabilities 14,815 4,574
Creditors: amounts falling due after more than one year 6 ( 27,654) ( 57,660)
Provision for liabilities 23,290 25,839
Net assets/(liabilities) 10,451 ( 27,247)
Capital and reserves
Called-up share capital 7 180 180
Profit and loss account 10,271 ( 27,427 )
Total shareholder's funds/(deficit) 10,451 ( 27,247)

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.

Directors' responsibilities:

The financial statements of VirdisGroup Limited (registered number: 02970311) were approved and authorised for issue by the Board of Directors on 21 July 2025. They were signed on its behalf by:

N A Rowell
Director
VIRDISGROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
VIRDISGROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

VirdisGroup Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Prama House, 267 Banbury Road, Oxford, OX2 7HT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of VirdisGroup Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Going concern

The financial statements have been prepared on a going concern basis.

The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise on monetary items.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for the rendering of recruitment consultancy services in the normal course of business. Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover is recognised proportionally over the performance of the service contract, by reference to the stage of completion of the transaction at the end of the reporting period.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Leasehold improvements 10 years straight line
Vehicles 4 years straight line
Fixtures and fittings 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
Financial liabilities are derecognised when the Company’s contractual obligations expire or are discharged or cancelled.

Retirement benefits

The Company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 6

3. Tangible assets

Land and buildings Leasehold improve-
ments
Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 January 2024 442,043 25,249 27,730 137,924 632,946
At 31 December 2024 442,043 25,249 27,730 137,924 632,946
Accumulated depreciation
At 01 January 2024 99,269 14,097 8,088 121,173 242,627
Charge for the financial year 6,053 2,525 6,932 6,230 21,740
At 31 December 2024 105,322 16,622 15,020 127,403 264,367
Net book value
At 31 December 2024 336,721 8,627 12,710 10,521 368,579
At 31 December 2023 342,774 11,152 19,642 16,751 390,319

4. Debtors

2024 2023
£ £
Trade debtors 65,738 40,841
Other debtors 16,357 22,034
82,095 62,875

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 118,162 97,970
Trade creditors 74,716 54,220
Amounts owed to Group undertakings 154,947 235,872
Other taxation and social security 7,914 20,833
Other creditors 93,437 46,969
449,176 455,864

The bank borrowings are secured by a fixed and floating charge over the assets of the company. N A Rowell, a director, has also given a personal guarantee of £100,000 in respect of the company's bank borrowings.

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 27,654 57,660

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary A shares of £ 1.00 each 100 100
80 Ordinary B shares of £ 1.00 each 80 80
180 180

8. Related party transactions

The company is a wholly owned member of the group and as such has taken advantage of the exemption permitted by Section 1AC.35 'Related Party Disclosures', not to provide disclosures of transactions entered into with other wholly-owned members of the group.