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REGISTERED NUMBER: 10505861 (England and Wales)















V1RTUS LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024






V1RTUS LTD (REGISTERED NUMBER: 10505861)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Report of the Accountants 8

V1RTUS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTORS: K Hemingway
A Quinn





SECRETARY:





REGISTERED OFFICE: Unit N1
Gildersome Spur
Morley
LEEDS
LS27 7JZ





REGISTERED NUMBER: 10505861 (England and Wales)





ACCOUNTANTS: FINLAYSON & CO
Whitby Court
Abbey Road
Shepley
HUDDERSFIELD
West Yorkshire
HD8 8EL

V1RTUS LTD (REGISTERED NUMBER: 10505861)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 9,260 12,184
Tangible assets 5 80,513 213,864
89,773 226,048

CURRENT ASSETS
Stocks 6 627,543 786,085
Debtors 7 179,089 235,919
Cash at bank and in hand 425,066 898,176
1,231,698 1,920,180
CREDITORS
Amounts falling due within one year 8 342,834 420,995
NET CURRENT ASSETS 888,864 1,499,185
TOTAL ASSETS LESS CURRENT
LIABILITIES

978,637

1,725,233

CREDITORS
Amounts falling due after more than one
year

9

(4,980

)

(113,481

)

PROVISIONS FOR LIABILITIES (18,824 ) (40,634 )
NET ASSETS 954,833 1,571,118

CAPITAL AND RESERVES
Called up share capital 10 127 125
Retained earnings 954,706 1,570,993
SHAREHOLDERS' FUNDS 954,833 1,571,118

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 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.

V1RTUS LTD (REGISTERED NUMBER: 10505861)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 March 2025 and were signed on its behalf by:




K Hemingway - Director



A Quinn - Director


V1RTUS LTD (REGISTERED NUMBER: 10505861)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1. STATUTORY INFORMATION

V1rtus Ltd 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

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 - 33% on cost
Fixtures and Fittings - 33% on cost
Motor Vehicles - 33% on cost
Computer Equipment - 33% on cost

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

V1RTUS LTD (REGISTERED NUMBER: 10505861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

2. ACCOUNTING POLICIES - continued

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 16 (2023 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 December 2023
and 30 November 2024 14,621
AMORTISATION
At 1 December 2023 2,437
Charge for year 2,924
At 30 November 2024 5,361
NET BOOK VALUE
At 30 November 2024 9,260
At 30 November 2023 12,184

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
Machinery Fittings Vehicles Equipment Totals
£    £    £    £    £   
COST
At 1 December 2023 136,019 111,621 215,914 73,888 537,442
Additions - 3,531 - 7,479 11,010
Disposals (34,468 ) (65,680 ) (4,893 ) (30,568 ) (135,609 )
At 30 November 2024 101,551 49,472 211,021 50,799 412,843
DEPRECIATION
At 1 December 2023 98,520 72,492 97,485 55,081 323,578
Charge for year 17,697 6,509 63,892 5,794 93,892
Eliminated on disposal (24,614 ) (37,911 ) (1,478 ) (21,137 ) (85,140 )
At 30 November 2024 91,603 41,090 159,899 39,738 332,330
NET BOOK VALUE
At 30 November 2024 9,948 8,382 51,122 11,061 80,513
At 30 November 2023 37,499 39,129 118,429 18,807 213,864

V1RTUS LTD (REGISTERED NUMBER: 10505861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

6. STOCKS
2024 2023
£    £   
Stocks 627,543 786,085

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 54,362 4,249
Other debtors 124,727 231,670
179,089 235,919

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 98,501 22,731
Trade creditors 76,968 169,861
Taxation and social security 14,852 85,465
Other creditors 142,513 132,938
342,834 420,995

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 4,980 14,980
Hire purchase contracts - 98,501
4,980 113,481

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
NIL Ordinary £1 - 100
(2023 - 100 )
25 Ordinary A £1 25 25
100 Ordinary B £1 100 -
1 Ordinary C £1 1 -
1 Ordinary D £1 1 -
127 125

The following shares were issued during the year for cash at par :

1 Ordinary C share of £1
1 Ordinary D share of £1

V1RTUS LTD (REGISTERED NUMBER: 10505861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

11. RELATED PARTY DISCLOSURES

During the year the company was repaid £1,500 (2023: £322) to Hemquin Ltd a company controlled by K Hemingway a shareholder. At the year end £6,451 (2023:£8,486) was outstanding.

V1RTUS LTD

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
V1RTUS LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 30 November 2024 set out on pages three to ten and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






FINLAYSON & CO
Whitby Court
Abbey Road
Shepley
HUDDERSFIELD
West Yorkshire
HD8 8EL


17 March 2025