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Company Registration No. 07891338 (England and Wales)
First Cloud Accounting Ltd Unaudited accounts for the year ended 31 May 2023
First Cloud Accounting Ltd Unaudited accounts Contents
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First Cloud Accounting Ltd Company Information for the year ended 31 May 2023
Director
K T Spencer
Company Number
07891338 (England and Wales)
Registered Office
12 Sheene Grove BRAINTREE CM7 9FS United Kingdom
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First Cloud Accounting Ltd Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
10,600 
- 
Current assets
Debtors
2,676 
4,462 
Cash at bank and in hand
27,825 
10,497 
30,501 
14,959 
Creditors: amounts falling due within one year
(15,571)
(3,378)
Net current assets
14,930 
11,581 
Net assets
25,530 
11,581 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
25,520 
11,571 
Shareholders' funds
25,530 
11,581 
For the year ending 31 May 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 director acknowledges his 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 and authorised for issue on 12 February 2024 and were signed on its behalf by
K T Spencer Director Company Registration No. 07891338
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First Cloud Accounting Ltd Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
First Cloud Accounting Ltd is a private company, limited by shares, registered in England and Wales, registration number 07891338. The registered office is 12 Sheene Grove, BRAINTREE, CM7 9FS, United Kingdom.
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
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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 £ sterling.
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
33% straight line
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.
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.
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First Cloud Accounting Ltd Notes to the Accounts for the year ended 31 May 2023
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 June 2022
- 
Additions
15,900 
At 31 May 2023
15,900 
Depreciation
Charge for the year
5,300 
At 31 May 2023
5,300 
Net book value
At 31 May 2023
10,600 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
999 
2,392 
Accrued income and prepayments
1,677 
2,070 
2,676 
4,462 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
4,549 
3,078 
Other creditors
8,579 
- 
Loans from directors
2,443 
300 
15,571 
3,378 
7
Average number of employees
During the year the average number of employees was 2 (2022: 1).
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