Virtual Auction Global Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 10229627 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

VIRTUAL AUCTION GLOBAL LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mr N Runcorn

Mr G Ioannides

REGISTERED OFFICE:

33 St James Square

London

SW1Y 4JS

REGISTERED NUMBER:

10229627 (England and Wales)

CURRENT ASSETS

Debtors

3

87,591

10,000

Cash at bank

14,444

16,050

102,035

26,050

CREDITORS

Amounts falling due within one year

4

165,001

-

NET CURRENT (LIABILITIES)/ASSETS

(62,966

)

26,050

TOTAL ASSETS LESS CURRENT LIABILITIES

(62,966

)

26,050

CREDITORS

Amounts falling due after more than one year

5

150,000

-

NET (LIABILITIES)/ASSETS

(212,966

)

26,050

CAPITAL AND RESERVES

Called up share capital

10,537

10,010

Share premium

139,463

39,990

Other reserves

-

10,000

Retained earnings

(362,966

)

(33,950

)

SHAREHOLDERS' FUNDS

(212,966

)

26,050

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 15 May 2018 and were signed on its behalf by:

Mr N Runcorn - Director

1.	STATUTORY INFORMATION

Virtual Auction Global 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis as the directors are satisfied that the

company will have adequate resources to meet its liabilities to third parties as they fall due.

FINANCIAL INSTRUMENTS

All of the company's financial instruments are classified as basic and measured at amortised cost

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 statement of financial position date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed by group undertakings

80,032

-

Other debtors

7,559

10,000

87,591

10,000

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

165,001

-

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

150,000

-