Virtual Group Holdings Limited - Limited company accounts 25.1

REGISTERED NUMBER: SC689485 (Scotland)

Report of the Directors and

Unaudited Consolidated Financial Statements for the Year Ended 31 March 2025

for

Virtual Group Holdings Limited

Page

Company Information

1

Report of the Directors

2

Consolidated Income Statement

3

Consolidated Balance Sheet

4

Company Balance Sheet

6

Consolidated Statement of Changes in Equity

8

Company Statement of Changes in Equity

9

Notes to the Consolidated Financial Statements

10

DIRECTORS:

G J Currie

Mrs A Currie

REGISTERED OFFICE:

Scottish Enterprise Technology Park

Orion House

Bramah Avenue

East Kilbride

South Lanarkshire

G75 0RD

REGISTERED NUMBER:

SC689485 (Scotland)

ACCOUNTANTS:

BROOKS & REEVES PARTNERS LTD

The directors present their report with the financial statements of the company and the group for the year ended 31 March 2025.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

G J Currie

Mrs A Currie

POLITICAL DONATIONS AND EXPENDITURE

Donations of £2,194 were made during the year.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

G J Currie - Director

29 March 2026

TURNOVER

5,244,646

11,784,459

Cost of sales

2,643,598

6,037,660

GROSS PROFIT

2,601,048

5,746,799

Administrative expenses

3,060,472

5,572,438

(459,424

)

174,361

Other operating income

4,500

(5,846

)

Gain/loss on revaluation of tangible
assets

13,350

-

OPERATING (LOSS)/PROFIT

4

(441,574

)

168,515

Interest receivable and similar income

274

306

(441,300

)

168,821

Interest payable and similar expenses

17,954

70,493

(LOSS)/PROFIT BEFORE
TAXATION

(459,254

)

98,328

Tax on (loss)/profit

18,015

(349

)

(LOSS)/PROFIT FOR THE
FINANCIAL YEAR

(477,269

)

98,677

(Loss)/profit attributable to:

Owners of the parent

(477,269

)

98,677

FIXED ASSETS

Intangible assets

6

-

Tangible assets

7

47,546

77,403

Investments

8

700

48,246

78,103

CURRENT ASSETS

Stocks

958

-

Debtors

9

2,423,090

2,310,522

Cash at bank

121,917

46,130

2,545,965

2,356,652

CREDITORS

Amounts falling due within one year

10

3,030,330

2,484,816

NET CURRENT LIABILITIES

(484,365

)

(128,164

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(436,119

)

(50,061

)

CREDITORS

Amounts falling due after more than
one year

11

(192,797

)

-

PROVISIONS FOR LIABILITIES

(23,127

)

(14,713

)

NET LIABILITIES

(652,043

)

(64,774

)

CAPITAL AND RESERVES

Called up share capital

1,200

Retained earnings

(653,243

)

(65,974

)

(652,043

)

(64,774

)

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 29 March 2026 and were signed on its behalf by:

G J Currie - Director

FIXED ASSETS

Intangible assets

6

-

Tangible assets

7

-

Investments

8

700

CURRENT ASSETS

Debtors

9

216,392

CREDITORS

Amounts falling due within one year

10

217,672

NET CURRENT LIABILITIES

(1,280

)

(1,280

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(580

)

(580

)

CAPITAL AND RESERVES

Called up share capital

500

Retained earnings

(1,080

)

(1,080

)

(580

)

(580

)

Company's profit for the financial year

-

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2026 and were signed on its behalf by:

G J Currie - Director

Called up

share

Retained

Total

capital

earnings

equity

£

Balance at 1 April 2023

-

(164,651

)

(164,651

)

Changes in equity

Issue of share capital

1,200

-

1,200

Total comprehensive income

-

98,677

Balance at 31 March 2024

1,200

(65,974

)

(64,774

)

Changes in equity

Dividends

-

(110,000

)

(110,000

)

Total comprehensive income

-

(477,269

)

(477,269

)

Balance at 31 March 2025

1,200

(653,243

)

(652,043

)

Called up

share

Retained

Total

capital

earnings

equity

£

Balance at 1 April 2023

-

(1,080

)

(1,080

)

Changes in equity

Issue of share capital

500

-

500

Balance at 31 March 2024

500

(1,080

)

(580

)

Changes in equity

Balance at 31 March 2025

500

(1,080

)

(580

)

1.	STATUTORY INFORMATION

Virtual Group Holdings Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the General 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.

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 etc

-

33% on cost, 25% on reducing balance, 20% on cost and 10% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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 Consolidated 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.

Pension costs and other post-retirement benefits

The group operates a defined contribution pension scheme. Contributions payable to the group'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 (2024 - 2 ) .

The average number of employees by undertakings that were proportionately consolidated during the year was 171 (2024 - 171 ) .

4.	OPERATING (LOSS)/PROFIT

The operating loss (2024 - operating profit) is stated after charging:

2025

2024

£

Depreciation - owned assets

47,042

94,129

Computer software amortisation

-

3,703

5.	INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

6.	INTANGIBLE FIXED ASSETS

Group

Other

intangible

assets

£

COST

At 1 April 2024

and 31 March 2025

17,880

AMORTISATION

At 1 April 2024

and 31 March 2025

17,880

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

7.	TANGIBLE FIXED ASSETS

Group

Plant and

machinery

etc

£

COST

At 1 April 2024

454,832

Additions

17,185

At 31 March 2025

472,017

DEPRECIATION

At 1 April 2024

377,429

Charge for year

47,042

At 31 March 2025

424,471

NET BOOK VALUE

At 31 March 2025

47,546

At 31 March 2024

77,403

8.	FIXED ASSET INVESTMENTS

Group

Shares in

group

undertakin

£

COST

At 1 April 2024

and 31 March 2025

700

NET BOOK VALUE

At 31 March 2025

700

At 31 March 2024

700

Company

Shares in

group

undertakin

£

COST

At 1 April 2024

and 31 March 2025

700

NET BOOK VALUE

At 31 March 2025

700

At 31 March 2024

700

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Virtual FM Limited

Registered office: Scottish Enterprise Technology Park Orion House Bramah Avenue East Kilbride South Lanarkshire G75 0RD

Nature of business:

%

Class of shares:

holding

Ordinary

100.00

Ignite Consultancy Services Limited

Registered office: Scottish Enterprise Technology Park Orion House Bramah Avenue East Kilbride South Lanarkshire G75 0RD

Nature of business:

%

Class of shares:

holding

Ordinary

100.00

Virtual Water Services Limited

Registered office: Scottish Enterprise Technology Park Orion House Bramah Avenue East Kilbride South Lanarkshire G75 0RD

Nature of business:

%

Class of shares:

holding

Ordinary

100.00

Virtual Fire and Security Services Limited

Registered office: Scottish Enterprise Technology Park Orion House Bramah Avenue East Kilbride South Lanarkshire G75 0RD

Nature of business:

%

Class of shares:

holding

Ordinary

100.00

Virtual Group Services Limited

Registered office: Scottish Enterprise Technology Park Orion House Bramah Avenue East Kilbride South Lanarkshire G75 0RD

Nature of business:

%

Class of shares:

holding

Ordinary

100.00

Virtual Technical Services Limited

Registered office: Scottish Enterprise Technology Park Orion House Bramah Avenue East Kilbride South Lanarkshire G75 0RD

Nature of business:

%

Class of shares:

holding

Ordinary

100.00

Virtual Facilities Services Limited

Registered office: Scottish Enterprise Technology Park Orion House Bramah Avenue East Kilbride South Lanarkshire G75 0RD

Nature of business:

%

Class of shares:

holding

Ordinary

100.00

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR

Group

Company

2025

2024

2025

2024

£

Trade debtors

772,060

1,630,622

-

Amounts owed by group undertakings

1,045,109

137,166

-

Other debtors

605,921

542,734

216,392

2,423,090

2,310,522

216,392

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR

Group

Company

2025

2024

2025

2024

£

Trade creditors

1,075,871

808,665

-

Amounts owed to group undertakings

1,034,490

46,317

217,672

Taxation and social security

457,089

472,908

-

Other creditors

462,880

1,156,926

-

3,030,330

2,484,816

217,672

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR

Group

2025

2024

£

Bank loans

192,797

-

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

G J Currie and Mrs A Currie

Balance outstanding at start of year

216,392

-

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

216,392

-

**

BALANCE OUTSTANDING AT START OF YEAR FOR CURRENT YEAR AS
SHOWN ABOVE

216,392

DOES NOT AGREE TO BALANCE OUTSTANDING AT END OF YEAR FOR
LAST YEAR

-

PLEASE CHECK CLIENT SCREEN - NOTES TO FINANCIAL STATEMENTS - OTHER DISCLOSURES - TRANSACTIONS WITH DIRECTORS - DIRECTORS' ADVANCES AND CREDITS - FOR BOTH CURRENT AND LAST YEARS

13.	POST BALANCE SHEET EVENTS

After the year end, Virtual FM Limited (a subsidiary of the group) went into liquidation.