Virgo Consultancy Services Limited

Financial Statements for the Year Ended 31 July 2024

DIRECTOR:

H P Brown

SECRETARY:

H P Brown

REGISTERED OFFICE:

265 Holton Road

Barry

Vale of Glamorgan

CF63 4HT

REGISTERED NUMBER:

06639295 (England and Wales)

FIXED ASSETS

Tangible assets

3

2,414

3,219

CURRENT ASSETS

Debtors

4

282,772

281,306

Cash at bank and in hand

34

377

282,806

281,683

CREDITORS

Amounts falling due within one year

5

297,423

320,315

NET CURRENT LIABILITIES

(14,617

)

(38,632

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(12,203

)

(35,413

)

CREDITORS

Amounts falling due after more than one year

6

16,451

20,000

NET LIABILITIES

(28,654

)

(55,413

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(28,655

)

(55,414

)

(28,654

)

(55,413

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 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 director and authorised for issue on 23 July 2026 and were signed by:

H P Brown - Director

1.	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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% reducing balance

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.

Pension costs

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 4 ) .

3.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 August 2023

and 31 July 2024

45,574

DEPRECIATION

At 1 August 2023

42,355

Charge for year

805

At 31 July 2024

43,160

NET BOOK VALUE

At 31 July 2024

2,414

At 31 July 2023

3,219

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

281,306

281,306

Other debtors & prepayments

1,466

-

282,772

281,306

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

23,724

35,478

Taxes & social security costs

85,491

91,354

Other creditors & accruals

188,208

193,483

297,423

320,315

The company meets its day to day working capital requirements through an overdraft and loan facility which, in common with all such facilities, are repayable on demand. The director expects that the company will continue to operate within the facility currently agreed. The director's views are based on her plans and on discussions with the company's bankers and the director will continue to support the company as necessary.

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

16,451

20,000