REGISTERED NUMBER: 05549357 (England and Wales)

VIRTU PROPERTY LIMITED

Financial Statements for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J W Ackrill

C M Ackrill

REGISTERED OFFICE:

2nd Floor

The Exchange

17-19 Newhall Street

Birmingham

West Midlands

B3 3PJ

REGISTERED NUMBER:

05549357 (England and Wales)

AUDITORS:

Michael Dufty Partnership Limited

Statutory Auditors

59-61 Charlotte Street

St Pauls Square

Birmingham

West Midlands

B3 1PX

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

167,465

94,489

167,465

94,489

CURRENT ASSETS

Stocks

6,534

7,280

Debtors

6

227,878

198,367

234,412

205,647

CREDITORS

Amounts falling due within one year

7

364,415

307,695

NET CURRENT LIABILITIES

(130,003

)

(102,048

)

TOTAL ASSETS LESS CURRENT LIABILITIES

37,462

(7,559

)

CREDITORS

Amounts falling due after more than one year

8

(29,081

)

(30,484

)

PROVISIONS FOR LIABILITIES

(41,313

)

(22,740

)

NET LIABILITIES

(32,932

)

(60,783

)

CAPITAL AND RESERVES

Called up share capital

480

480

Retained earnings

(33,412

)

(61,263

)

(32,932

)

(60,783

)

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 29 September 2025 and were signed on its behalf by:

J W Ackrill - Director

1.	STATUTORY INFORMATION

Virtu Property 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. 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 three 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

-

25% on reducing balance

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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their useful lives. Those held under finance leases are depreciated over their useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

These contributions are recognised as an expense in the profit and loss account when they fall due. Amounts not paid are shown as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

All financial assets and liabilities are initially measured at transaction price and subsequently measured at amortised cost.

Going concern

These financial statements have been prepared on a going concern basis. The Directors anticipate that the company will continue to be profitable in the forthcoming period, for the foreseeable future and will maintain positive cash flows.

The company also retains the support of its parent & fellow subsidiary companies.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2023 - 39 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

2,860

AMORTISATION

At 1 January 2024

and 31 December 2024

2,860

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

82,494

5,594

189,705

10,843

288,636

Additions

31,566

-

79,865

-

111,431

At 31 December 2024

114,060

5,594

269,570

10,843

400,067

DEPRECIATION

At 1 January 2024

69,868

5,594

107,842

10,843

194,147

Charge for year

12,867

-

25,588

-

38,455

At 31 December 2024

82,735

5,594

133,430

10,843

232,602

NET BOOK VALUE

At 31 December 2024

31,325

-

136,140

-

167,465

At 31 December 2023

12,626

-

81,863

-

94,489

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

158,649

188,154

Amounts owed by group undertakings

64

32

Amounts owed by related parties

-

645

Other debtors

1,726

2,817

Prepayments

67,439

6,719

227,878

198,367

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

3,759

3,341

Hire purchase contracts

45,412

31,661

Trade creditors

87,824

20,936

Amounts owed to group undertakings

99,901

138,250

Tax

-

10,168

Social security and other taxes

97,114

87,354

Other creditors

4,806

6,091

Accruals and deferred income

25,599

9,894

364,415

307,695

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

29,081

30,484

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

74,493

-

The hire purchase liability is secured against the assets to which they relate.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Robert Maclaren FCCA (Senior Statutory Auditor)

for and on behalf of Michael Dufty Partnership Limited

11.	ULTIMATE PARENT COMPANY

The largest group in which these accounts are consolidated is in that of Centrick Group Holdings Limited, 2nd Floor, The Exchange, 17-19 Newhall Street, Birmingham, B3 3PJ, UK, which is the ultimate parent company.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr & Mrs Ackrill by virtu of their majority holding in the parent company