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Company Registration No. 01941261 (England and Wales)
Cloud and More Limited Unaudited accounts for the year ended 31 March 2023
Cloud and More Limited Unaudited accounts Contents
Page
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Cloud and More Limited Company Information for the year ended 31 March 2023
Directors
Adam Whatford Laura Whatford Timothy Killeen Michelle Killeen
Company Number
01941261 (England and Wales)
Registered Office
11 Drakes Mews Crownhill Milton Keynes Bucks MK8 0ER
Accountants
HJP Chartered Audley House Northbridge Road Berkhamsted Herts HP4 1EH
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Cloud and More Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
678,739 
757,055 
Tangible assets
29,950 
20,114 
708,689 
777,169 
Current assets
Inventories
14,784 
11,446 
Debtors
291,438 
271,145 
Cash at bank and in hand
54,123 
44,230 
360,345 
326,821 
Creditors: amounts falling due within one year
(1,031,694)
(1,094,484)
Net current liabilities
(671,349)
(767,663)
Total assets less current liabilities
37,340 
9,506 
Creditors: amounts falling due after more than one year
(33,966)
(35,833)
Provisions for liabilities
Deferred tax
(3,316)
- 
Net assets/(liabilities)
58 
(26,327)
Capital and reserves
Called up share capital
625 
625 
Capital redemption reserve
375 
375 
Profit and loss account
(942)
(27,327)
Shareholders' funds
58 
(26,327)
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2023 and were signed on its behalf by
Timothy Killeen Director Company Registration No. 01941261
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Cloud and More Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Cloud and More Limited is a private company, limited by shares, registered in England and Wales, registration number 01941261. The registered office is 11 Drakes Mews, Crownhill, Milton Keynes, Bucks, MK8 0ER.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 31 March 2023 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2021. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in GBP.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% straight line
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. The assets are being amortised over 10 years.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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Cloud and More Limited Notes to the Accounts for the year ended 31 March 2023
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill 
Other 
Total 
£ 
£ 
£ 
Cost
At 1 April 2022
323,160 
460,001 
783,161 
At 31 March 2023
323,160 
460,001 
783,161 
Amortisation
At 1 April 2022
10,772 
15,334 
26,106 
Charge for the year
32,316 
46,000 
78,316 
At 31 March 2023
43,088 
61,334 
104,422 
Net book value
At 31 March 2023
280,072 
398,667 
678,739 
At 31 March 2022
312,388 
444,667 
757,055 
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Cloud and More Limited Notes to the Accounts for the year ended 31 March 2023
5
Tangible fixed assets
Land & buildings 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2022
1 
- 
27,624 
27,625 
Additions
- 
13,295 
5,786 
19,081 
At 31 March 2023
1 
13,295 
33,410 
46,706 
Depreciation
At 1 April 2022
- 
- 
7,511 
7,511 
Charge for the year
- 
2,770 
6,475 
9,245 
At 31 March 2023
- 
2,770 
13,986 
16,756 
Net book value
At 31 March 2023
1 
10,525 
19,424 
29,950 
At 31 March 2022
1 
- 
20,113 
20,114 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
243,843 
255,203 
Accrued income and prepayments
23,892 
15,942 
Other debtors
18,102 
- 
285,837 
271,145 
Amounts falling due after more than one year
Accrued income and prepayments
5,601 
- 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
VAT
51,950 
57,031 
Obligations under finance leases and hire purchase contracts
2,470 
- 
Trade creditors
48,225 
88,778 
Taxes and social security
37,727 
25,324 
Other creditors
770,949 
762,953 
Loans from directors
32,074 
39,326 
Accruals
8,334 
24,228 
Deferred income
69,965 
86,844 
1,031,694 
1,094,484 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
25,833 
35,833 
Obligations under finance leases and hire purchase contracts
8,133 
- 
33,966 
35,833 
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Cloud and More Limited Notes to the Accounts for the year ended 31 March 2023
9
Transactions with related parties
At the end of the year the company owed money to the following related companies: Simplify Technology Limited - £726,651 (2022 - £755,000) Alliance Systems Limited - £35,165 (2022 - £nil)
10
Average number of employees
During the year the average number of employees was 17 (2022: 7).
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