Virsec Ltd

	Page
Abridged Balance Sheet	1—2
Notes to the Abridged Financial Statements	3—4

Registered number: 10169250

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		34,473		38,782
Tangible Assets	5		15,589		17,321

			50,062		56,103
CURRENT ASSETS
Debtors		36,625		44,137
Cash at bank and in hand		16,804		32,231

		53,429		76,368
Creditors: Amounts Falling Due Within One Year		(71,178 )		(82,320 )

NET CURRENT ASSETS (LIABILITIES)			(17,749 )		(5,952 )

TOTAL ASSETS LESS CURRENT LIABILITIES			32,313		50,151

Creditors: Amounts Falling Due After More Than One Year			(14,315 )		(22,354 )

NET ASSETS			17,998		27,797

CAPITAL AND RESERVES
Called up share capital	6		200		200
Share premium account			16,126		16,126
Profit and Loss Account			1,672		11,471

SHAREHOLDERS' FUNDS			17,998		27,797

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Virsec Ltd

Abridged Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 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.

All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 March 2025 in accordance with section 444(2A) of the Companies Act 2006.

On behalf of the board

Mr Stephen Richards Director	Ms Catherine Wallwork Director
31/12/2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

Virsec Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10169250 . The registered office is Canada House, Chepstow Street, Manchester, M1 5FW.

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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Research and Development

These were costs incurred during the early stages of the Company to develop the software and systems to provide the multiple training aspects of the Company's turnover. These costs have ongoing benefits and were capitalised to ease the write off over a period of 10 years.

The Directors believe that the original costs still have an economic benefit and are valued fairly on the Balance Sheet.

2.4. 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:

Fixtures & Fittings

Reducing Balance @ 10%

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 4 (2024: 4)

4. Intangible Assets

	Total
	£
Cost
As at 1 April 2024	100,872

As at 31 March 2025	100,872

Amortisation
As at 1 April 2024	62,090
Provided during the period	4,309

As at 31 March 2025	66,399

...CONTINUED

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Virsec Ltd

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 March 2025

Net Book Value
As at 31 March 2025	34,473

As at 1 April 2024	38,782

5. Tangible Assets

	Total
	£
Cost
As at 1 April 2024	29,099

As at 31 March 2025	29,099

Depreciation
As at 1 April 2024	11,778
Provided during the period	1,732

As at 31 March 2025	13,510

Net Book Value
As at 31 March 2025	15,589

As at 1 April 2024	17,321

6. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	200	200

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