Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-314The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-04-01falseNo description of principal activity4falsetrue 10631445 2022-04-01 2023-03-31 10631445 1 2022-04-01 2023-03-31 10631445 2021-04-01 2022-03-31 10631445 2023-03-31 10631445 2022-03-31 10631445 d:Director2 2022-04-01 2023-03-31 10631445 c:ComputerEquipment 2022-04-01 2023-03-31 10631445 c:ComputerEquipment 2023-03-31 10631445 c:ComputerEquipment 2022-03-31 10631445 c:ComputerEquipment c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10631445 c:CurrentFinancialInstruments 2023-03-31 10631445 c:CurrentFinancialInstruments 2022-03-31 10631445 c:Non-currentFinancialInstruments 2023-03-31 10631445 c:Non-currentFinancialInstruments 2022-03-31 10631445 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 10631445 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 10631445 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 10631445 c:Non-currentFinancialInstruments c:AfterOneYear 2022-03-31 10631445 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-03-31 10631445 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2022-03-31 10631445 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-03-31 10631445 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2022-03-31 10631445 c:ShareCapital 2023-03-31 10631445 c:ShareCapital 2022-03-31 10631445 c:SharePremium 2023-03-31 10631445 c:SharePremium 2022-03-31 10631445 c:RetainedEarningsAccumulatedLosses 2023-03-31 10631445 c:RetainedEarningsAccumulatedLosses 2022-03-31 10631445 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 10631445 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-03-31 10631445 d:OrdinaryShareClass1 2022-04-01 2023-03-31 10631445 d:OrdinaryShareClass1 2023-03-31 10631445 d:OrdinaryShareClass1 2022-03-31 10631445 d:OrdinaryShareClass2 2022-04-01 2023-03-31 10631445 d:OrdinaryShareClass2 2023-03-31 10631445 d:OrdinaryShareClass2 2022-03-31 10631445 d:FRS102 2022-04-01 2023-03-31 10631445 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 10631445 d:FullAccounts 2022-04-01 2023-03-31 10631445 d:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10631445 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 10631445














CLOUD CANYON LTD
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2023

 
CLOUD CANYON LTD
REGISTERED NUMBER:10631445

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note

Fixed assets
  

Tangible assets
 4 
36
187

Current assets
  

Debtors: amounts falling due within one year
 5 
191,826
43,311

Cash at bank and in hand
 6 
22,644
233,381

  
214,470
276,692

Creditors: amounts falling due within one year
 7 
(48,303)
(227,838)

Net current assets
  
 
 
166,167
 
 
48,854

Total assets less current liabilities
  
166,203
49,041

Creditors: amounts falling due after more than one year
 8 
(23,274)
(32,500)

  

Net assets
  
£142,929
£16,541


Capital and reserves
  

Called up share capital 
 11 
62
62

Share premium account
  
399,988
399,988

Profit and loss account
  
(257,121)
(383,509)

  
£142,929
£16,541


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 August 2023.




___________________________
P Shah
Page 1

 
CLOUD CANYON LTD
REGISTERED NUMBER:10631445

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CLOUD CANYON LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Cloud Canyon Ltd is a private company, limited by shares, registered in England and Wales under number 10631445.  The registered office is 167-169 Great Portland Street, 5th Floor, London, W1W 5PF. The trading address is PO Box 100, Attleborough, NR17 2YU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
CLOUD CANYON LTD
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
CLOUD CANYON LTD
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.12

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.13

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

Page 5

 
CLOUD CANYON LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Computer equipment



Cost or valuation


At 1 April 2022
602



At 31 March 2023

602



Depreciation


At 1 April 2022
415


Charge for the year on owned assets
151



At 31 March 2023

566



Net book value



At 31 March 2023
£36



At 31 March 2022
£187


5.


Debtors

2023
2022


Other debtors
3,826
8,026

Prepayments and accrued income
188,000
-

Tax recoverable
-
35,285

£191,826
£43,311



6.


Cash and cash equivalents

2023
2022

Cash at bank and in hand
£22,644
£233,381


Page 6

 
CLOUD CANYON LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due within one year

2023
2022

Bank loans
9,931
10,000

Trade creditors
663
14,525

Amounts owed to group undertakings
33,634
-

Other taxation and social security
1,860
119,998

Other creditors
-
81,500

Accruals and deferred income
2,215
1,815

£48,303
£227,838



8.


Creditors: Amounts falling due after more than one year

2023
2022

Bank loans
£23,274
£32,500



9.


Loans


Analysis of the maturity of loans is given below:


2023
2022

Amounts falling due within one year

Bank loans
9,931
10,000

Amounts falling due 1-2 years

Bank loans
10,183
10,000

Amounts falling due 2-5 years

Bank loans
13,091
22,500


£33,205
£42,500



10.


Financial instruments

2023
2022

Financial assets


Financial assets measured at fair value through profit or loss
£22,644
£233,381




Financial assets measured at fair value through profit or loss comprise cash and bank balances.

Page 7

 
CLOUD CANYON LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

11.


Share capital

2023
2022
Allotted, called up and fully paid



50,000 (2022 - 50,000) A Ordinary shares of £0.001 each
50
50
12,000 (2022 - 12,000) B Ordinary shares of £0.001 each
12
12

£62

£62



12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £125 (2022 - £610). Contributions totalling £Nil (2022 - £124) were payable to the fund at the balance sheet date and are included in creditors.


13.
Ultimate parent undertaking and controlling party

At the balance sheet date, the immediate parent undertaking is SevenCanyon Limited, a company incorporated in England and Wales. 
SevenCanyon Limited is also the controlling party of the company.
The company is exempt from the requirement of preparing consolidated financial statements as it is a subsidiary undertaking of a small group under section 383 of the Companies Act 2006.


Page 8