Virtus Security Ltd


FINANCIAL STATEMENTS


for the year ended 31st January 2025



Virtus Security Ltd

CONTENTS

for the year ended 31st January 2025







The Accounts are comprised of the following:

Statement of Financial Position

Notes to the Accounts



Please note that the Accounts comprise of HTML and iXBRL source code and that this is a printed or visual representation of that source code some of which will not be displayed or printed.

Virtus Security Ltd

Company No. 08358259

STATEMENT OF FINANCIAL POSITION

as at 31st January 2025

20252024
Note£££
FIXED ASSETS
Property, plant and equipment4192129137745
192129137745
CURRENT ASSETS
Stocks51077511450
Debtors6475513219847
Cash at bank and in hand86203259769
572491491066
CURRENT LIABILITIES
Creditors: amounts falling due
within one year7298325310796
NET CURRENT ASSETS274166180270
TOTAL ASSETS LESS CURRENT LIABILITIES466295318015
 
Creditors: amounts falling due
after more than one year851083-
 
NET ASSETS415212318015
 
CAPITAL AND RESERVES
Called up share capital101101
Retained earnings415111317914
SHAREHOLDERS FUNDS415212318015

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies which are subject to the small companies' regime. The Income Statement has not been delivered to the Registrar of Companies.

For the year ended 31st January 2025 the Company is entitled to the exemption from the requirement to obtain an audit conferred by section 477 of the Companies Act 2006 and the members have not required the company to obtain an audit in accordance with section 476 of the Act.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the Board on 14 May 2025


L A Sackey

Director

Company Number 08358259 (England)

Virtus Security Ltd

NOTES TO THE ACCOUNTS

for the year ended 31st January 2025


1   Statutory information

Virtus Security Ltd is a private company limited by shares and registered under company number 08358259 in England. Its registered office address is 12, Hatherley Road, Sidcup, Kent, DA14 4DT.

These financial statements are presented in Sterling, which is the functional currency of the company.

2   Accounting policies

Basis of preparation of financial statements

The accounts have been prepared under the historical cost convention in accordance with the accounting policies set out below, and in accordance with Financial Reporting Standard 102 Section 1A and the Companies Act 2006.

Income Recognition

Revenue is measured at the fair value of the consideration received or receivable. Turnover is shown net of value added tax, returns, rebates and discounts. Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership, it is possible that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Depreciation

Depreciation is provided on all property, plant and equipment, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Plant, machinery and vehicles20-25% reducing balance

Stocks

Stocks are valued at the lower of cost and expected selling price less any costs to sell.

Leasing

Assets, obtained under hire purchase contracts and finance leases, are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

Leasing and hire purchase commitments

Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the Company, are capitalised in the Statement of Financial Position and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the Statement of Financial Position as a liability.

The interest element of the rental obligations is charged to the Income Statement over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

Pensions

The Company operates a defined contribution pension scheme. Contributions are charged to the Income Statement as they become payable in accordance with the rules of the scheme.

3   Employee information

The average number of employees during the accounting period was 12 (2024 - 13).

4   Property, plant and equipment
 
PlantFixtures
Motorandand
VehiclesMachineryFittingsTotal
££££
Cost
At 1st February 2024 1758092385332355232017
Additions78243-612384366
At 31st January 20252540522385338478316383
 
Depreciation
At 1st February 2024 63184140101707894272
Charge for year234141968460029982
At 31st January 2025865981597821678124254
 
Net Book Value
At 31st January 2025167454787516800192129
At 31st January 2024112625984315277137745
 
Net book value of assets included above held
 under finance leases and hire purchase contracts
 
At 31st January 202578243--78243
At 31st January 2024----

5   Stocks20252024
££
 
Finished goods and goods for resale1077511450
1077511450

The difference between purchase price or production cost of stocks and their replacement cost is not material.


6   Debtors20252024
££
 
Trade Debtors351122130619
Other debtors12004584882
Prepayments and accrued income43464346
475513219847

7   Creditors: amounts falling due within one year20252024
££
 
Loans and Overdrafts1393323933
Obligations under finance lease and hire purchase contracts11067-
Trade Creditors6798776721
Corporation tax2284810333
Taxes and social security costs10298281790
Other creditors4430526119
Accruals and deferred income3520391900
298325310796

8   Creditors: amounts falling due after one year20252024
££
 
Obligations under finance lease and hire purchase contracts51083-
51083-

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