IRIS Accounts Production v23.3.1.45 07880441 director 1.4.22 31.3.23 31.3.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure078804412022-03-31078804412023-03-31078804412022-04-012023-03-31078804412021-03-31078804412021-04-012022-03-31078804412022-03-3107880441ns16:EnglandWales2022-04-012023-03-3107880441ns15:PoundSterling2022-04-012023-03-3107880441ns11:Director12022-04-012023-03-3107880441ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3107880441ns11:SmallEntities2022-04-012023-03-3107880441ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3107880441ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3107880441ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3107880441ns11:FullAccounts2022-04-012023-03-3107880441ns11:RegisteredOffice2022-04-012023-03-3107880441ns6:CurrentFinancialInstruments2023-03-3107880441ns6:CurrentFinancialInstruments2022-03-3107880441ns6:Non-currentFinancialInstruments2023-03-3107880441ns6:Non-currentFinancialInstruments2022-03-3107880441ns6:ShareCapital2023-03-3107880441ns6:ShareCapital2022-03-3107880441ns6:RetainedEarningsAccumulatedLosses2023-03-3107880441ns6:RetainedEarningsAccumulatedLosses2022-03-3107880441ns6:ComputerEquipment2022-03-3107880441ns6:ComputerEquipment2022-04-012023-03-3107880441ns6:ComputerEquipment2023-03-3107880441ns6:ComputerEquipment2022-03-3107880441ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3107880441ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3107880441ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2023-03-3107880441ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2022-03-3107880441ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2023-03-3107880441ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2022-03-3107880441ns6:BetweenOneFiveYears12023-03-3107880441ns6:BetweenOneFiveYears12022-03-3107880441ns6:MoreThanFiveYears22023-03-3107880441ns6:MoreThanFiveYears22022-03-3107880441ns11:Director112022-03-3107880441ns11:Director112021-03-3107880441ns11:Director112022-04-012023-03-3107880441ns11:Director112021-04-012022-03-3107880441ns11:Director112023-03-3107880441ns11:Director112022-03-31
REGISTERED NUMBER: 07880441 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

CLOUDSIDE ASSOCIATES LIMITED

CLOUDSIDE ASSOCIATES LIMITED (REGISTERED NUMBER: 07880441)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CLOUDSIDE ASSOCIATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: J M Whitehead





REGISTERED OFFICE: Kingsland House
39 Abbey Foregate
Shrewsbury
Shropshire
SY2 6BL





REGISTERED NUMBER: 07880441 (England and Wales)





ACCOUNTANTS: D.R.E. & Co. Limited
Chartered Accountants
Kingsland House
39 Abbey Foregate
Shrewsbury
Shropshire
SY2 6BL

CLOUDSIDE ASSOCIATES LIMITED (REGISTERED NUMBER: 07880441)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 699 1,049
Investment property 6 1,635,763 -
1,636,462 1,049

CURRENT ASSETS
Debtors 7 927,160 571,293
Cash at bank 279,357 11,629
1,206,517 582,922
CREDITORS
Amounts falling due within one year 8 1,279,059 546,792
NET CURRENT (LIABILITIES)/ASSETS (72,542 ) 36,130
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,563,920

37,179

CREDITORS
Amounts falling due after more than one
year

9

(1,549,546

)

(28,229

)

PROVISIONS FOR LIABILITIES (175 ) (262 )
NET ASSETS 14,199 8,688

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 14,099 8,588
14,199 8,688

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CLOUDSIDE ASSOCIATES LIMITED (REGISTERED NUMBER: 07880441)

BALANCE SHEET - continued
31 MARCH 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 November 2023 and were signed by:





J M Whitehead - Director


CLOUDSIDE ASSOCIATES LIMITED (REGISTERED NUMBER: 07880441)

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

1. STATUTORY INFORMATION

Cloudside Associates 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
At the balance sheet date the company had net current liabilities of £72,542 (2022: net current assets of £36,130). The directors have confirmed that they will continue to provide financial assistance to the company and therefore the accounts have been prepared on a going concern basis.

The financial statements have been prepared under the historical cost convention.

These financial statements are for the individual entity only.

The financial statements are presented in Sterling (£), rounded to the nearest £1.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets are stated at historic cost less accumulated depreciation. Cost includes the original
purchase price, costs attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life or, if held under a finance lease, over the lease term, whichever is the shorter:

Computer equipment - 33% straight line

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

CLOUDSIDE ASSOCIATES LIMITED (REGISTERED NUMBER: 07880441)

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

3. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade receivables and cash and bank balances, are initially recognised at
transaction price and subsequently carried at amortised cost with an assessment for objective evidence of
impairment. Any impairment is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards or control of the ownership of the asset are transferred to another party.

(ii) Financial liabilities

Basic financial liabilities, including trade payables and amounts owed to other group undertakings, are initially
recognised at transaction price and subsequently carried at amortised cost.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

CLOUDSIDE ASSOCIATES LIMITED (REGISTERED NUMBER: 07880441)

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

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2022
and 31 March 2023 1,449
DEPRECIATION
At 1 April 2022 400
Charge for year 350
At 31 March 2023 750
NET BOOK VALUE
At 31 March 2023 699
At 31 March 2022 1,049

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 1,635,763
At 31 March 2023 1,635,763
NET BOOK VALUE
At 31 March 2023 1,635,763

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 129,229 36,133
Directors' current accounts 797,931 535,160
927,160 571,293

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 15,270 9,584
Trade creditors 310,000 -
Amounts owed to related parties 614,425 118,037
Tax 219,588 229,415
Social security and other taxes 1,887 2,250
VAT 20,257 90,246
Accrued expenses 97,632 97,260
1,279,059 546,792

CLOUDSIDE ASSOCIATES LIMITED (REGISTERED NUMBER: 07880441)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 9,000 9,584
Bank loans - 2-5 years 11,910 18,645
Mortgages 1,528,636 -
1,549,546 28,229

Amounts falling due in more than five years:

Repayable by instalments
Mortgages 1,528,636 -

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Mortgage 1,534,906 -

HSBC UK Bank PLC hold a fixed and floating charge over all assets

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
J M Whitehead
Balance outstanding at start of year 535,160 461,177
Amounts advanced 662,742 468,458
Amounts repaid (399,971 ) (394,475 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 797,931 535,160