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Company No: 10633552 (England and Wales)

# IN-VR LIMITED

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

IN-VR LIMITED

## Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

IN-VR LIMITED

## COMPANY INFORMATION

For the financial year ended 31 December 2024
IN-VR LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024

DIRECTORS | Stylianos Papagrigoriou
| Chrysanthi Tsouraki

REGISTERED OFFICE | Suite 56 95 Mortimer Street
| London
| W1W 7GB
| United Kingdom

COMPANY NUMBER | 10633552 (England and Wales)

ACCOUNTANT | Praxis
| 1 Fore Street Avenue
| London
| EC2Y 9DT

IN-VR LIMITED

## BALANCE SHEET

As at 31 December 2024
IN-VR LIMITED

## BALANCE SHEET (continued)

As at 31 December 2024

| Note | 2024 |  | 2023
|  | £ |  | £
Current assets |  |  |  |
Debtors | 3 | 215,238 |  | 36,854
Cash at bank and in hand |  | 154,272 |  | 10,497
|  | 369,510 |  | 47,351
Creditors: amounts falling due within one year | 4 | ( 268,367) |  | ( 397,911)
Net current assets/(liabilities) |  | 101,143 |  | (350,560)
Total assets less current liabilities |  | 101,143 |  | (350,560)
Creditors: amounts falling due after more than one year | 5 | ( 170,291) |  | ( 140,539)
Net liabilities |  | ( 69,148) |  | ( 491,099)
Capital and reserves |  |  |  |
Called-up share capital | 6 | 100 |  | 100
Profit and loss account |  | ( 69,248 ) |  | ( 491,199 )
Total shareholders' deficit |  | ( 69,148) |  | ( 491,099)

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 members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of IN-VR Limited (registered number: 10633552) were approved and authorised for issue by the Board of Directors on 26 August 2025. They were signed on its behalf by:

Stylianos Papagrigoriou Director |

IN-VR LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
IN-VR 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

IN-VR 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 Suite 56 95 Mortimer Street, London, W1W 7GB, 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 Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £82,777. The Company is supported through loans from the directors, both directly and via a connected company under common control. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the 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 Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### 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.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

#### 2. Employees

| 2024 |  | 2023
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 2 |  | 3

#### 3. Debtors

| 2024 |  | 2023
| £ |  | £
Trade debtors | 212,325 |  | 35,942
Other debtors | 2,913 |  | 912
| 215,238 |  | 36,854

#### 4. Creditors: amounts falling due within one year

| 2024 |  | 2023
| £ |  | £
Bank loans | 7,800 |  | 42,718
Trade creditors | 14,935 |  | 39,550
Other taxation and social security | 52,794 |  | 83,451
Other creditors | 192,838 |  | 232,192
| 268,367 |  | 397,911

There are no amounts included above in respect of which any security has been given by the small entity.
Included within other creditors are amounts owed to Directors totalling £167,021 (2023: £166,978). Amounts are repayable on demand and do not bear interest.

#### 5. Creditors: amounts falling due after more than one year

| 2024 |  | 2023
| £ |  | £
Bank loans | 29,752 |  | 0
Amounts owed to connected persons | 140,539 |  | 140,539
| 170,291 |  | 140,539

There are no amounts included above in respect of which any security has been given by the small entity.

#### 6. Called-up share capital

| 2024 |  | 2023
| £ |  | £
Allotted, called-up and fully-paid |  |  |
100 A ordinary shares of £ 1.00 each | 100 |  | 100

#### 7. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

| 2024 |  | 2023
| £ |  | £
Unpaid contributions due to the fund (inc. in other creditors) | 0 |  | 19,211

#### 8. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the Company since the financial year.