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REGISTERED NUMBER: 07835576 (England and Wales)










Vr Systems Limited

Unaudited Financial Statements

for the Year Ended 30 November 2024






Vr Systems Limited (Registered number: 07835576)






Contents of the Financial Statements
for the year ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Vr Systems Limited

Company Information
for the year ended 30 November 2024







DIRECTOR: Mr J K Palin





REGISTERED OFFICE: Unit 10E Palatine Industrial Estate
Palatine Industrial Estate
Warrington
WA4 6QQ





REGISTERED NUMBER: 07835576 (England and Wales)





ACCOUNTANTS: Salisbury & Company
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN

Vr Systems Limited (Registered number: 07835576)

Balance Sheet
30 November 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,791 12,689

CURRENT ASSETS
Stocks 1,000 1,000
Debtors 5 4,264 155
Cash at bank 47,023 50,121
52,287 51,276
CREDITORS
Amounts falling due within one year 6 6,619 3,667
NET CURRENT ASSETS 45,668 47,609
TOTAL ASSETS LESS CURRENT
LIABILITIES

57,459

60,298

PROVISIONS FOR LIABILITIES 2,179 2,336
NET ASSETS 55,280 57,962

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 55,180 57,862
SHAREHOLDERS' FUNDS 55,280 57,962

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 August 2025 and were signed by:





Mr J K Palin - Director


Vr Systems Limited (Registered number: 07835576)

Notes to the Financial Statements
for the year ended 30 November 2024

1. STATUTORY INFORMATION

Vr Systems Limited is a private company, limited by shares , registered in England and Wales. 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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

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 - 2 ) .

Vr Systems Limited (Registered number: 07835576)

Notes to the Financial Statements - continued
for the year ended 30 November 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2023 18,710
Additions 2,675
At 30 November 2024 21,385
DEPRECIATION
At 1 December 2023 6,021
Charge for year 3,573
At 30 November 2024 9,594
NET BOOK VALUE
At 30 November 2024 11,791
At 30 November 2023 12,689

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,125 66
Other debtors 139 89
4,264 155

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 48 194
Taxation and social security 4,105 1,718
Other creditors 2,466 1,755
6,619 3,667

7. RELATED PARTY DISCLOSURES

During the year the company paid for management services of £30,000 (2022 £22,500) to Atlas 21 Limited, the parent company.

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J Palin on the basis that he owns all of the share capital in Atllas 21 Limited which in turn owns all of the share capital in the company.