VR ENTERTAINMENT LTD

• ⚠

  Material uncertainty over going concern

  The Group is in a net current liabilities position as at the balance sheet date of £705,606 and is in discussions with key short-term creditors to agree to extended payment terms, in the event this extension was not agreed the Group would require additional finance to be raised to maintain liquidity. Furthermore, the directors have applied a severe but plausible stress test to their forecast to 31 December 2026 which also indicates that the Group would require additional funding to maintain liquidity and discharge its liabilities... The above two matters identify the existence of material uncertainties that may cast significant doubt on the Group's ability to continue as a going concern. Whilst the Group has been successful in raising finance, there is a risk the Group is unable to secure the necessary refinancing or additional funding, potentially leading to an inability to realise its assets and discharge its liabilities in the normal course of business. Given these uncertainties, the Directors acknowledge a material uncertainty regarding the Group's ability to continue as a going concern. However, after considering all available information about the future, the Directors have a reasonable expectation that the Group has adequate resources to continue its operations for the foreseeable future. Therefore, the financial statements have been prepared on a going concern basis.

• ◆

  Audit opinion: Qualified

  Latest auditor's report carried a non-clean opinion.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  +49.8%

  £3,280,754 → £4,914,037

• Cash

  +63.2%

  £172,720 → £281,819

• Net assets

  +49.4%

  £2,306,304 → £3,444,481

  highest in 3 filed years

• Employees

  +48.6%

  74 → 110

  highest in 3 filed years

• Operating profit

  +4.5%

  -£1,266,885 → -£1,209,400

• Profit before tax

  +2.4%

  -£1,360,768 → -£1,327,489

• Wages

  +21.8%

  £1,477,808 → £1,799,489

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

FLB Audit LLP

Audit opinion

Qualified

Going concern

Material uncertainty disclosed

“The Group is in a net current liabilities position as at the balance sheet date of £705,606 and is in discussions with key short-term creditors to agree to extended payment terms, in the event this extension was not agreed the Group would require additional finance to be raised to maintain liquidity. Furthermore, the directors have applied a severe but plausible stress test to their forecast to 31 December 2026 which also indicates that the Group would require additional funding to maintain liquidity and discharge its liabilities... The above two matters identify the existence of material uncertainties that may cast significant doubt on the Group's ability to continue as a going concern. Whilst the Group has been successful in raising finance, there is a risk the Group is unable to secure the necessary refinancing or additional funding, potentially leading to an inability to realise its assets and discharge its liabilities in the normal course of business. Given these uncertainties, the Directors acknowledge a material uncertainty regarding the Group's ability to continue as a going concern. However, after considering all available information about the future, the Directors have a reasonable expectation that the Group has adequate resources to continue its operations for the foreseeable future. Therefore, the financial statements have been prepared on a going concern basis.”

Group structure

1. VR ENTERTAINMENT LTD · parent
   1. VR Entertainment (London) Ltd 100% · England
   2. VR Entertainment (Ireland) Limited 51% · Ireland

Significant events

• “On 7 March 2025, VR Entertainment Ltd entered into a new finance lease agreement for the rental of assets for 48 months at fixed interest of 9.48% per annum.”
• “On 17 June 2025, VR Entertainment Ltd entered into a new finance lease agreement for the rental of assets for 48 months at fixed interest of 9.79% per annum.”
• “On 21 March 2025, VR Entertainment (Ireland) Limited opened a VR experience venue in Dublin.”
• “Subsequent to the reporting date, VR Entertainment Ltd entered into a shareholder's loan agreement amounting to £500,000. The loan is unsecured, interest bearing at a fixed amount at £196,950 and repayable on 17 April 2029.”
• “VR Entertainment Limited further entered into a €477,000 intercompany loan with VR Entertainment (Ireland) Limited. The loan is unsecured, interest bearing at 9.59% per annum, repayable 48 months from commencement in March 2026.”
• “On 1 July 2025, VR Entertainment Ltd opened a VR experience venue in London.”
• “For periods between 15 April 2025 and 16 October 2025, VR Entertainment Ltd allotted a further 37,570 ordinary shares for nominal value 0.000005p each. This did not result in a change in control of the Company, and no adjustment has been made to the financial statements.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

4

last 12 months

Capital events

2

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.