Virtus Consult Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06006274 (England and Wales)

VIRTUS CONSULT LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2018

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A J Z Ogilvie

REGISTERED OFFICE:

Lancaster House The Penthouse

67 Newhall Street

Birmingham

B3 1NQ

REGISTERED NUMBER:

06006274 (England and Wales)

ACCOUNTANTS:

Maple Accountancy Group Ltd

83 Friar Gate

Derby

Derbyshire

DE1 1FL

FIXED ASSETS

Tangible assets

4

28,296

24,207

CURRENT ASSETS

Stocks

25,000

50,000

Debtors

652,531

423,780

Cash at bank and in hand

2,058

57,721

679,589

531,501

CREDITORS

Amounts falling due within one year

557,037

350,132

NET CURRENT ASSETS

122,552

181,369

TOTAL ASSETS LESS CURRENT LIABILITIES

150,848

205,576

CAPITAL AND RESERVES

Called up share capital

77

69

Retained earnings

150,771

205,507

SHAREHOLDERS' FUNDS

150,848

205,576

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2018 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 28 February 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 27 November 2018 and were signed by:

A J Z Ogilvie - Director

1.	STATUTORY INFORMATION

Virtus Consult Ltd 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.

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.

Plant and machinery etc

-

25% on cost

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.

Pension costs and other post-retirement benefits

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2017 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 March 2017

69,858

Additions

15,109

At 28 February 2018

84,967

DEPRECIATION

At 1 March 2017

45,651

Charge for year

11,020

At 28 February 2018

56,671

NET BOOK VALUE

At 28 February 2018

28,296

At 28 February 2017

24,207