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REGISTERED NUMBER: 10647511 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

CLOUDESSENTIALS LTD

CLOUDESSENTIALS LTD (REGISTERED NUMBER: 10647511)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CLOUDESSENTIALS LTD

COMPANY INFORMATION
for the Year Ended 31 MARCH 2022







DIRECTORS: G Amoils
C F Hathaway
Miss L J Hill





REGISTERED OFFICE: 88 North Street
Hornchurch
RM11 1SR





REGISTERED NUMBER: 10647511 (England and Wales)





ACCOUNTANTS: Lipson & Co
88 North Street
Hornchurch
Essex
RM11 1SR

CLOUDESSENTIALS LTD (REGISTERED NUMBER: 10647511)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,735 2,151

CURRENT ASSETS
Debtors 5 71,410 27,993
Cash at bank 184,323 223,121
255,733 251,114
CREDITORS
Amounts falling due within one year 6 103,826 87,100
NET CURRENT ASSETS 151,907 164,014
TOTAL ASSETS LESS CURRENT
LIABILITIES

153,642

166,165

CREDITORS
Amounts falling due after more than one
year

7

47,500

50,000
NET ASSETS 106,142 116,165

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 106,042 116,065
106,142 116,165

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 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 Board of Directors and authorised for issue on 16 August 2022 and were signed on its behalf by:





G Amoils - Director


CLOUDESSENTIALS LTD (REGISTERED NUMBER: 10647511)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2022

1. STATUTORY INFORMATION

Cloudessentials 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 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.

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

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.

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.

Coronavirus
On 11 March 2020, the World Health Organisation declared the COVID-19 outbreak as a worldwide pandemic. The directors are carefully monitoring the situation and following the applicable guidance issued by the UK Government. The outbreak has had a significant impact on both people and industry across the world. Due to the nature of the outbreak and the ongoing effect it is having globally, it is very difficult to fully predict the overall impact this situation will have on the company and the business going forward.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 2 ) .

CLOUDESSENTIALS LTD (REGISTERED NUMBER: 10647511)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2022

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2021 2,229
Additions 268
At 31 March 2022 2,497
DEPRECIATION
At 1 April 2021 78
Charge for year 684
At 31 March 2022 762
NET BOOK VALUE
At 31 March 2022 1,735
At 31 March 2021 2,151

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 39,133 27,993
Other debtors 32,277 -
71,410 27,993

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 33,798 44,626
Amounts owed to group undertakings 15,622 3,222
Taxation and social security 14,386 24,846
Other creditors 40,020 14,406
103,826 87,100

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 47,500 50,000

8. ULTIMATE CONTROLLING PARTY

The company's immediate parent undertaking is Soarsoft International Limited, a company incorporated in England and Wales. The company's ultimate parent undertaking is Soarsoft International Holdings Limited, a company incorporated in Mauritius. The directors' interests in Soarsoft International Holdings Limited are disclosed in that company's accounts.