The Virtual Work Shop Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05389032 (England and Wales)

Financial Statements

for the Year Ended 31st March 2020

for

THE VIRTUAL WORK SHOP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S M Campbell

REGISTERED OFFICE:

15 Grove Place

Bedford

MK40 3JJ

REGISTERED NUMBER:

05389032 (England and Wales)

ACCOUNTANTS:

John Wildman Chartered Accountants

15 Grove Place

Bedford

MK40 3JJ

BANKERS:

Bank of Scotland

600 Gorgie Road

Edinburgh

EH11 3XP

CURRENT ASSETS

Debtors

5

419

229

Cash at bank

7

1

426

230

CREDITORS

Amounts falling due within one year

6

910

2,168

NET CURRENT LIABILITIES

(484

)

(1,938

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(484

)

(1,938

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(485

)

(1,939

)

SHAREHOLDERS' FUNDS

(484

)

(1,938

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2020 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 10th December 2020 and were signed by:

S M Campbell - Director

1.	STATUTORY INFORMATION

The Virtual Work Shop 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.

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.

These financial statements are prepared on the going concern basis as it is the intention of the director

to continue supporting the company for the foreseeable future.

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.

Office equipment

-

25% on reducing balance

Computer equipment

-

25% on 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Office

Computer

equipment

equipment

Totals

£

£

£

COST

At 1st April 2019

and 31st March 2020

409

985

1,394

DEPRECIATION

At 1st April 2019

and 31st March 2020

409

985

1,394

NET BOOK VALUE

At 31st March 2020

-

-

-

At 31st March 2019

-

-

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

419

229

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Corporation tax

285

-

Directors' current accounts

295

1,838

Accrued expenses

330

330

910

2,168