Company registration number 09948742 (England and Wales)
CLOUD OFFICER LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
PAGES FOR FILING WITH REGISTRAR
CLOUD OFFICER LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 6
CLOUD OFFICER LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 JANUARY 2023
31 January 2023
- 1 -
2023
2022
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
3
1,416
2,495
Investments
4
63,086
81,054
64,502
83,549
Current assets
Trade and other receivables
5
14,358
37,760
Cash and cash equivalents
329
84,083
14,687
121,843
Current liabilities
6
(28,102)
(64,253)
Net current (liabilities)/assets
(13,415)
57,590
Total assets less current liabilities
51,087
141,139
Provisions for liabilities
(354)
(624)
Net assets
50,733
140,515
Equity
Called up share capital
100
100
Share premium account
41,050
41,050
Retained earnings
9,583
99,365
Total equity
50,733
140,515

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 5 October 2023
Mr A Polmolea
Director
Company registration number 09948742 (England and Wales)
CLOUD OFFICER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
- 2 -
1
Accounting policies
Company information

Cloud Officer Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Parkshot, Richmond, Surrey, TW9 2RD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Revenue

Revenue is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% Straight Line
Fixtures and fittings
25% Straight Line
Computers
25% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Non-current investments

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

CLOUD OFFICER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
1
Accounting policies
(Continued)
- 3 -
1.5
Impairment of non-current assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held with banks.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, are classified as debt, are initially recognised at transaction price.

 

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

CLOUD OFFICER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
1
Accounting policies
(Continued)
- 4 -
1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 February 2022 and 31 January 2023
6,643
Depreciation and impairment
At 1 February 2022
4,148
Depreciation charged in the year
1,079
At 31 January 2023
5,227
Carrying amount
At 31 January 2023
1,416
At 31 January 2022
2,495
4
Fixed asset investments
2023
2022
£
£
Other investments other than loans
63,086
81,054
CLOUD OFFICER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
4
Fixed asset investments
(Continued)
- 5 -
Movements in non-current investments
Investments
£
Cost or valuation
At 1 February 2022
81,054
Additions
21,090
Valuation changes
(1,142)
FX timing difference
3,978
Fees
(365)
Disposals
(41,529)
At 31 January 2023
63,086
Carrying amount
At 31 January 2023
63,086
At 31 January 2022
81,054
5
Trade and other receivables
2023
2022
Amounts falling due within one year:
£
£
Trade receivables
-
0
37,168
Other receivables
14,358
592
14,358
37,760
6
Current liabilities
2023
2022
£
£
Taxation and social security
7,134
53,665
Other payables
20,968
10,588
28,102
64,253
7
Events after the reporting date

The board of directors have agreed to a capital reduction. A resolution was passed on 1 March 2023 to reduce the capital of the company.

CLOUD OFFICER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 6 -
8
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Closing balance
£
£
£
£
Advances
4.00
(805)
13,195
265
12,655
(805)
13,195
265
12,655
2023-01-312022-02-01false05 October 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityMr A Polmolea099487422022-02-012023-01-31099487422023-01-31099487422022-01-3109948742core:OtherPropertyPlantEquipment2023-01-3109948742core:OtherPropertyPlantEquipment2022-01-3109948742core:CurrentFinancialInstrumentscore:WithinOneYear2023-01-3109948742core:CurrentFinancialInstrumentscore:WithinOneYear2022-01-3109948742core:CurrentFinancialInstruments2023-01-3109948742core:CurrentFinancialInstruments2022-01-3109948742core:ShareCapital2023-01-3109948742core:ShareCapital2022-01-3109948742core:SharePremium2023-01-3109948742core:SharePremium2022-01-3109948742core:RetainedEarningsAccumulatedLosses2023-01-3109948742core:RetainedEarningsAccumulatedLosses2022-01-3109948742bus:Director12022-02-012023-01-3109948742core:PlantMachinery2022-02-012023-01-3109948742core:FurnitureFittings2022-02-012023-01-3109948742core:ComputerEquipment2022-02-012023-01-31099487422021-02-012022-01-3109948742core:OtherPropertyPlantEquipment2022-01-3109948742core:OtherPropertyPlantEquipment2022-02-012023-01-3109948742core:WithinOneYear2023-01-3109948742core:WithinOneYear2022-01-3109948742bus:PrivateLimitedCompanyLtd2022-02-012023-01-3109948742bus:SmallCompaniesRegimeForAccounts2022-02-012023-01-3109948742bus:FRS1022022-02-012023-01-3109948742bus:AuditExemptWithAccountantsReport2022-02-012023-01-3109948742bus:FullAccounts2022-02-012023-01-31xbrli:purexbrli:sharesiso4217:GBP