Acorah Software Products - Accounts Production 16.4.675 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 08715018 Mr Howard BONACCORSI Ms Gemma Woodcock iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08715018 2023-12-31 08715018 2024-12-31 08715018 2024-01-01 2024-12-31 08715018 frs-core:CurrentFinancialInstruments 2024-12-31 08715018 frs-core:Non-currentFinancialInstruments 2024-12-31 08715018 frs-core:FurnitureFittings 2024-12-31 08715018 frs-core:FurnitureFittings 2024-01-01 2024-12-31 08715018 frs-core:FurnitureFittings 2023-12-31 08715018 frs-core:PlantMachinery 2024-12-31 08715018 frs-core:PlantMachinery 2024-01-01 2024-12-31 08715018 frs-core:PlantMachinery 2023-12-31 08715018 frs-core:ShareCapital 2024-12-31 08715018 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 08715018 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08715018 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 08715018 frs-bus:SmallEntities 2024-01-01 2024-12-31 08715018 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 08715018 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 08715018 frs-bus:Director1 2024-01-01 2024-12-31 08715018 frs-bus:Director2 2024-01-01 2024-12-31 08715018 frs-countries:EnglandWales 2024-01-01 2024-12-31 08715018 2022-12-31 08715018 2023-12-31 08715018 2023-01-01 2023-12-31 08715018 frs-core:CurrentFinancialInstruments 2023-12-31 08715018 frs-core:Non-currentFinancialInstruments 2023-12-31 08715018 frs-core:ShareCapital 2023-12-31 08715018 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 08715018
Virtualsportz Limited
Financial Statements
For The Year Ended 31 December 2024
Kent Coast Accounts Ltd
AAT Licenced Accountants
Marlowe Innovation Centre
Marlowe Way
Ramsgate
Kent
CT12 6FA
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 08715018
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 5,025
- 5,025
CURRENT ASSETS
Debtors 5 6,757 5,669
Cash at bank and in hand 2,595 1,467
9,352 7,136
Creditors: Amounts Falling Due Within One Year 6 (19,393 ) (12,864 )
NET CURRENT ASSETS (LIABILITIES) (10,041 ) (5,728 )
TOTAL ASSETS LESS CURRENT LIABILITIES (10,041 ) (703 )
Creditors: Amounts Falling Due After More Than One Year 7 (5,931 ) (7,272 )
NET LIABILITIES (15,972 ) (7,975 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (16,072 ) (8,075 )
SHAREHOLDERS' FUNDS (15,972) (7,975)
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Gemma Woodcock
Director
13th August 2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Virtualsportz Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08715018 . The registered office is Unit 72 Maple Leaf Business Park, Manston, Rasmgate, Kent, CT12 5GD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents commission income earned from the arrangement and organisation of events, excluding value added tax. Commission income is recognised when the company has fulfilled its obligations under the contract with the customer and the amount of revenue can be measured reliably.
Where the company acts as an agent in respect of event fees, turnover is recognised on a net basis, being the amount of commission receivable, once the event has taken place or the service has otherwise been fully provided.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Fixtures & Fittings 20% reducing balance
Assets that are expected to have no residual value and a useful economic life of less than one year are fully depreciated in the year of acquisition.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2024 - 27,960 27,960
Additions 429 - 429
Disposals (429 ) (27,960 ) (28,389 )
As at 31 December 2024 - - -
Depreciation
As at 1 January 2024 - 22,935 22,935
Provided during the period - 648 648
Disposals - (23,583 ) (23,583 )
As at 31 December 2024 - - -
...CONTINUED
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Page 3
Net Book Value
As at 31 December 2024 - - -
As at 1 January 2024 - 5,025 5,025
5. Debtors
2024 2023
£ £
Due within one year
Amounts owed by participating interests 6,469 5,669
Other debtors 288 -
6,757 5,669
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 1,354 1,317
Amounts owed to participating interests 16,000 3,000
Other creditors 1,681 8,328
Taxation and social security 358 219
19,393 12,864
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 5,931 7,272
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Related Party Transactions
The company has identified the following related party relationships and transactions in the year:
Key Management Personnel
Amounts owed to key management personnel at the year end totalled £1,312 (2023: £7,853). These amounts are unsecured, interest free and repayable on demand.
Connected Companies
The company has transactions with entities under common management and control, as follows:
Golf‐4U Ltd – Amounts receivable from Golf‐4U Ltd at the year end were £6,469 (2023: £5,669). These balances are unsecured, interest free and repayable on demand.
Golf Events Limited – Amounts payable to Golf Events Limited at the year end were £16,000 (2023: £3,000). These balances are unsecured, interest free and repayable on demand. During the year, the company sold assets and provided event‐related services to Golf Events Limited. The directors believe these transactions were undertaken at arm’s length and at market value.
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