Virgo Solicitors Limited - Accounts to registrar (filleted) - small 18.2

Virgo Solicitors Limited - Accounts to registrar (filleted) - small 18.2

VIRGO SOLICITORS LIMITED - Company Information

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REGISTERED NUMBER: 09389422















Unaudited Financial Statements for the Year Ended 31 January 2022

for

Virgo Solicitors Limited
Virgo Solicitors Limited (Registered number: 09389422)






Contents of the Financial Statements
for the Year Ended 31 January 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Virgo Solicitors Limited

Company Information
for the Year Ended 31 January 2022







DIRECTOR: Dr A Nasralla - Taqi LLB (Hons) M.A.





REGISTERED OFFICE: Suite 21
Imperial House
64 Willoughby Lane
London
N17 0SP





REGISTERED NUMBER: 09389422





ACCOUNTANTS: Kam & Co
Financial, Public & International Accountants
Lower Ground Floor
24 Conway Street
London
W1T 6BG
Page 1
Virgo Solicitors Limited (Registered number: 09389422)

Balance Sheet
31 January 2022

31.1.22 31.1.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 23,400 30,000
Tangible assets 5 12,971 15,494
36,371 45,494

CURRENT ASSETS
Stocks 12,000 11,500
Debtors 6 33,602 31,005
Cash in hand 47 87
45,649 42,592
CREDITORS
Amounts falling due within one year 7 20,403 34,802
NET CURRENT ASSETS 25,246 7,790
TOTAL ASSETS LESS CURRENT
LIABILITIES
61,617
53,284

CREDITORS
Amounts falling due after more than one year 8 12,288 -
NET ASSETS 49,329 53,284

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 49,229 53,184
SHAREHOLDERS' FUNDS 49,329 53,284

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these financial statements

Page 2 continued...
Virgo Solicitors Limited (Registered number: 09389422)

Balance Sheet - continued
31 January 2022


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 28 October 2022 and were signed by:





Dr A Nasralla - Taqi LLB (Hons) M.A. - Director


The notes form part of these financial statements

Page 3
Virgo Solicitors Limited (Registered number: 09389422)

Notes to the Financial Statements
for the Year Ended 31 January 2022

1. STATUTORY INFORMATION

Virgo Solicitors Limited is a private company, limited by shares , registered in Not specified/Other. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

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.

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

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Page 4 continued...
Virgo Solicitors Limited (Registered number: 09389422)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2021
and 31 January 2022 66,000
AMORTISATION
At 1 February 2021 36,000
Charge for year 6,600
At 31 January 2022 42,600
NET BOOK VALUE
At 31 January 2022 23,400
At 31 January 2021 30,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2021
and 31 January 2022 26,534
DEPRECIATION
At 1 February 2021 11,040
Charge for year 2,523
At 31 January 2022 13,563
NET BOOK VALUE
At 31 January 2022 12,971
At 31 January 2021 15,494

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.22 31.1.21
£    £   
Trade debtors 31,248 28,653
Other debtors 2,354 2,352
33,602 31,005

Page 5 continued...
Virgo Solicitors Limited (Registered number: 09389422)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.22 31.1.21
£    £   
Bank loans and overdrafts 3,192 2,258
Taxation and social security 11,729 22,614
Other creditors 5,482 9,930
20,403 34,802

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.22 31.1.21
£    £   
Other creditors 12,288 -

Page 6