Cloudforest Supply Chains Ltd 14086427 false 2022-05-04 2023-05-31 2023-05-31 The principal activity of the company is the development of a digital supply chain and online marketplace. Digita Accounts Production Advanced 6.30.9574.0 true true 14086427 2022-05-04 2023-05-31 14086427 2023-05-31 14086427 bus:Original 2023-05-31 14086427 core:CurrentFinancialInstruments 2023-05-31 14086427 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 14086427 core:FurnitureFittingsToolsEquipment 2023-05-31 14086427 bus:SmallEntities 2022-05-04 2023-05-31 14086427 bus:AuditExemptWithAccountantsReport 2022-05-04 2023-05-31 14086427 bus:FullAccounts 2022-05-04 2023-05-31 14086427 bus:SmallCompaniesRegimeForAccounts 2022-05-04 2023-05-31 14086427 bus:RegisteredOffice 2022-05-04 2023-05-31 14086427 bus:Director1 2022-05-04 2023-05-31 14086427 bus:PrivateLimitedCompanyLtd 2022-05-04 2023-05-31 14086427 core:ComputerEquipment 2022-05-04 2023-05-31 14086427 core:FurnitureFittingsToolsEquipment 2022-05-04 2023-05-31 14086427 countries:EnglandWales 2022-05-04 2023-05-31 iso4217:GBP xbrli:pure

Registration number: 14086427

Cloudforest Supply Chains Ltd

Unaudited Financial Statements

for the Period from 4 May 2022 to 31 May 2023

 

Cloudforest Supply Chains Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 4

 

Cloudforest Supply Chains Ltd

(Registration number: 14086427)
Statement of Financial Position as at 31 May 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

477

Current assets

 

Debtors

5

6,165

Cash at bank and in hand

 

21,863

 

28,028

Creditors: Amounts falling due within one year

6

(32,280)

Net current liabilities

 

(4,252)

Net liabilities

 

(3,775)

Capital and reserves

 

Called up share capital

2

Retained earnings

(3,777)

Shareholders' deficit

 

(3,775)

For the financial period ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 2 February 2024
 

.........................................
Ms H L Robertson
Director

 

Cloudforest Supply Chains Ltd

Notes to the Unaudited Financial Statements for the Period from 4 May 2022 to 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
71-75 Shelton Street
London
WC2H 9JQ

These financial statements were authorised for issue by the director on 2 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company has net liabilities at the statement of financial position date. The company is supported by working capital provided by the director. The director is not aware of any reason why this support would be withdrawn. It is on that basis that the financial statements have been prepared on a going concern basis.

 

Cloudforest Supply Chains Ltd

Notes to the Unaudited Financial Statements for the Period from 4 May 2022 to 31 May 2023

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual model and the performance model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying therevenue recognition criteria, they are recognised as a liability.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

20% straight line

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2.

 

Cloudforest Supply Chains Ltd

Notes to the Unaudited Financial Statements for the Period from 4 May 2022 to 31 May 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

516

516

At 31 May 2023

516

516

Depreciation

Charge for the period

39

39

At 31 May 2023

39

39

Carrying amount

At 31 May 2023

477

477

5

Debtors

Current

2023
£

Prepayments

2,695

Other debtors

3,470

 

6,165

6

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Trade creditors

81

Taxation and social security

478

Accruals and deferred income

1,500

Other creditors

30,221

32,280