1 Virtual World Limited

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

Registered number: SC504096

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS

CURRENT ASSETS
Debtors	5	-		172
Cash at bank and in hand		293		393

		293		565
Creditors: Amounts Falling Due Within One Year	6	(13,436 )		(10,569 )

NET CURRENT ASSETS (LIABILITIES)			(13,143 )		(10,004 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(13,143 )		(10,004 )

NET LIABILITIES			(13,143 )		(10,004 )

CAPITAL AND RESERVES
Called up share capital	7		100		100
Profit and Loss Account			(13,243 )		(10,104 )

SHAREHOLDERS' FUNDS			(13,143)		(10,004)

For the year ending 30 April 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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.

On behalf of the board

Mr D Bowie

Director

17 September 2026

The notes on pages 2 to 4 form part of these financial statements.

1. General Information

1 Virtual World Limited is a private company, limited by shares, incorporated in Scotland, registered number SC504096 . The registered office is 26 Hillcroft Road, Banchory, Aberdeenshire, AB31 5TF.

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. Going Concern Disclosure

These financial statements have been prepared on a break-up basis and not on a going concern basis. The company ceased trading on 30 April 2026. The director has resolved, after the end of the reporting period an application will be made for the company to be struck off. Accordingly, the going concern basis is no longer appropriate.

On this basis, assets are stated at estimated net realisable value. Liabilities are recognised at their expected settlement amounts, including estimated winding-up costs where a present obligation exists at the reporting date.

2.3. Tangible Fixed Assets and Depreciation

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

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:

Computer Equipment

33% on cost

2.4. Financial Instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances are measured at transaction price including transaction costs.

Financial assets are derecognised when the contractual rights to cash flows from the asset expire or are settled or when the company transfers the risks and rewards of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, which include trade and other creditors and bank loans payable within one year are not amortised and is recognised at transaction price.

Debt instruments are initially recognised at transaction price plus transaction cost and subsequently carried at amortised cost using the effective interest rate method.

Financial liabilities are derecognised when the company's contractual obligations are discharged.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2025: NIL)

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1 Virtual World Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

4. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 May 2025	2,098
Disposals	(1,449 )

As at 30 April 2026	649

Depreciation
As at 1 May 2025	2,098
Disposals	(1,449 )

As at 30 April 2026	649

Net Book Value
As at 30 April 2026	-

As at 1 May 2025	-

5. Debtors

	2026	2025
	£	£
Due within one year
Other taxes and social security	-	172

6. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	154	90
Other creditors	35	51
Accruals and deferred income	180	-
Director's loan account	13,067	10,428

	13,436	10,569

7. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	100	100

8. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 May 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 30 April 2026
	£	£	£	£	£
Mr David Bowie	(10,428 )	172	(2,812 )	-	(13,068 )

The above loan is unsecured, interest free and repayable on demand.

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1 Virtual World Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

9. Post Balance Sheet Events

An application to strike the company off will be made upon filing of these accounts.

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