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REGISTERED NUMBER: 11953616 (England and Wales)















Financial Statements for the Year Ended 30 April 2023

for

Bam Boom Cloud Limited

Bam Boom Cloud Limited (Registered number: 11953616)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Bam Boom Cloud Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: Mr M Lipfield
Mr J W F S Stam
M Do Carmo Correia





REGISTERED OFFICE: 10 Wardwick
Derby
DE1 1HA





REGISTERED NUMBER: 11953616 (England and Wales)





AUDITORS: Underwood Green Limited, Statutory Auditor
Pinnacle House
1 Pinnacle Way
Derby
Derbyshire
DE24 8ZS

Bam Boom Cloud Limited (Registered number: 11953616)

Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,218,750 1,293,750
Tangible assets 5 207,495 268,106
Investments 6 20,976 20,976
1,447,221 1,582,832

CURRENT ASSETS
Stocks 7 49,043 48,218
Debtors 8 2,578,831 2,281,582
Cash at bank and in hand 361,808 9,852
2,989,682 2,339,652
CREDITORS
Amounts falling due within one year 9 3,286,424 1,979,792
NET CURRENT (LIABILITIES)/ASSETS (296,742 ) 359,860
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,150,479

1,942,692

CREDITORS
Amounts falling due after more than one
year

10

-

(7,910

)

PROVISIONS FOR LIABILITIES - (12,805 )
NET ASSETS 1,150,479 1,921,977

CAPITAL AND RESERVES
Called up share capital 12 15,000 15,000
Share premium 1,485,000 1,485,000
Retained earnings (349,521 ) 421,977
SHAREHOLDERS' FUNDS 1,150,479 1,921,977

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2023 and were signed on its behalf by:





Mr J W F S Stam - Director


Bam Boom Cloud Limited (Registered number: 11953616)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Bam Boom Cloud Limited 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.

Preparation of consolidated financial statements
The financial statements contain information about Bam Boom Cloud Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

The company has taken advantage of the exemption, under the terms of FRS 102, including the provisions of Section 1A, "Small Entities" not to prepare consolidated accounts.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 :

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Amortisation
Purchased goodwill is amortised on a straight line basis over 20 years, being the expected useful economic life of that asset.

Bam Boom Cloud Limited (Registered number: 11953616)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued

Intangible assets
Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of the Company's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the statement of income and retained earnings over it's useful economic life.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined, which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

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:

Plant and equipment - 5% to 33.33% straight line
Leasehold improvements - 20% straight line
Motor vehicles - 25% on a reducing balance basis

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 the Statement of Income and Retained Earnings.

Government grants
During the year the company received income in regard to Apprenticeship Funding. The amounts received are shown in other income within the financial statements.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

Bam Boom Cloud Limited (Registered number: 11953616)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Borrowing costs
All borrowing costs are recognised in the Statement of Income and Retained Earnings in the period in which they are incurred.

Pensions
The Company contributes to a group personal pension scheme for the benefit of employees. Premiums are charged to the profit and loss account in the period during which they become payable.

Bam Boom Cloud Limited (Registered number: 11953616)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of Income and Retained Earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 96 (2022 - 86 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2022
and 30 April 2023 1,500,000
AMORTISATION
At 1 May 2022 206,250
Charge for year 75,000
At 30 April 2023 281,250
NET BOOK VALUE
At 30 April 2023 1,218,750
At 30 April 2022 1,293,750

Bam Boom Cloud Limited (Registered number: 11953616)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 May 2022 211,266 133,159 - 344,425
Additions 603 16,990 124,169 141,762
Disposals - - (124,169 ) (124,169 )
At 30 April 2023 211,869 150,149 - 362,018
DEPRECIATION
At 1 May 2022 10,557 65,762 - 76,319
Charge for year 42,306 35,898 - 78,204
At 30 April 2023 52,863 101,660 - 154,523
NET BOOK VALUE
At 30 April 2023 159,006 48,489 - 207,495
At 30 April 2022 200,709 67,397 - 268,106

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 May 2022
and 30 April 2023 35,638
DEPRECIATION
At 1 May 2022 13,859
Charge for year 7,920
At 30 April 2023 21,779
NET BOOK VALUE
At 30 April 2023 13,859
At 30 April 2022 21,779

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2022
and 30 April 2023 20,976
NET BOOK VALUE
At 30 April 2023 20,976
At 30 April 2022 20,976

Bam Boom Cloud Limited (Registered number: 11953616)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

7. STOCKS
2023 2022
£    £   
Stocks 49,043 48,218

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,651,188 1,278,663
Amounts owed by group undertakings 578,596 554,093
Other debtors 24,044 7,450
Tax 7,837 13,849
Prepayments and accrued income 317,166 427,527
2,578,831 2,281,582

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 11) - 145,080
Hire purchase contracts 8,006 10,691
Trade creditors 1,172,584 800,871
Amounts owed to group undertakings 633,801 3,191
Social security and other taxes 68,496 476,360
VAT 437,485 -
Other creditors 307 -
Accruals and deferred income 965,745 543,599
3,286,424 1,979,792

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts - 7,910

11. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 145,080

Bam Boom Cloud Limited (Registered number: 11953616)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
750,000 Ordinary A 1p 7,500 7,500
750,000 Ordinary B 1p 7,500 7,500
15,000 15,000

The above shares have attached to them full voting, dividend and capital distribution (including on winding up) rights; they do not confer any rights of redemption.

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Gary Underwood (Senior Statutory Auditor)
for and on behalf of Underwood Green Limited, Statutory Auditor

14. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Pax8 Inc., a company registered in the United States of America at 5500 South Quebec Street, Suite 350, Greenwood Village, CO 80111 United States.

15. 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 amount to £151,973 (2022: £142,898).

Contributions totalling £22,210 (2022: £23,527) were payable to the fund at the balance sheet date.