Registered number
11884463
Cloud and Horse Production Limited
Filleted Accounts
31 March 2023
Cloud and Horse Production Limited
Registered number: 11884463
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 4 15,203 15,203
Tangible assets 5 28,489 40,021
43,692 55,224
Current assets
Stocks 12,340 35,907
Debtors 6 112,670 115,242
Cash at bank and in hand 82,348 14,600
207,358 165,749
Creditors: amounts falling due within one year 7 (192,988) (172,537)
Net current assets/(liabilities) 14,370 (6,788)
Total assets less current liabilities 58,062 48,436
Creditors: amounts falling due after more than one year 8 (30,000) (30,686)
Net assets 28,062 17,750
Capital and reserves
Called up share capital 100 100
Profit and loss account 27,962 17,650
Shareholders' funds 28,062 17,750
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Sean Wild
Director
Approved by the board on 4 October 2023
Cloud and Horse Production Limited
Notes to the Accounts
for the year ended 31 March 2023
2 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and equipment over 4 years
Motor vehicles over 4 years
Fixtures and fittings over 10 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
3 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 2
4 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 15,203
At 31 March 2023 15,203
Amortisation
At 31 March 2023 -
Net book value
At 31 March 2023 15,203
At 31 March 2022 15,203
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
5 Tangible fixed assets
Plant and equipment Fixtures and fittings Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 12,614 6,728 48,750 68,092
Additions 3,098 558 - 3,656
Disposals - - (1,856) (1,856)
At 31 March 2023 15,712 7,286 46,894 69,892
Depreciation
At 1 April 2022 7,827 744 19,500 28,071
Charge for the year 3,911 728 8,693 13,332
At 31 March 2023 11,738 1,472 28,193 41,403
Net book value
At 31 March 2023 3,974 5,814 18,701 28,489
At 31 March 2022 4,787 5,984 29,250 40,021
6 Debtors 2023 2022
£ £
Trade debtors 91,065 79,331
Other debtors 21,605 35,911
112,670 115,242
7 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 6,723 10,980
Trade creditors 94,836 70,287
Taxation and social security costs 84,124 58,919
Other creditors 7,305 32,351
192,988 172,537
8 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 30,000 30,686
9 Other information
Cloud and Horse Production Limited is a private company limited by shares and incorporated in England. Its registered office is:
1 Delta Wharf
271-287 Tunnel Avenue
London
SE10 0QE
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