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Company No: 02953884 (England and Wales)

CLOUDIS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

CLOUDIS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023

Contents

CLOUDIS LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
CLOUDIS LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
DIRECTORS Thomas Ian Barnes
Dr Ian Leslie Darbyshire
SECRETARY Thomas Ian Barnes
REGISTERED OFFICE Suite 2
Queen's House
Queens Road
Chester
CH1 3BQ
United Kingdom
COMPANY NUMBER 02953884 (England and Wales)
ACCOUNTANT MHA Moore Smalley
Richard House
9 Winckley Square
Preston
Lancashire
PR1 3HP
CLOUDIS LIMITED

BALANCE SHEET

AS AT 30 SEPTEMBER 2023
CLOUDIS LIMITED

BALANCE SHEET (continued)

AS AT 30 SEPTEMBER 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 3,494 2,906
3,494 2,906
Current assets
Stocks 0 27,600
Debtors
- due within one year 4 163,346 29,737
- due after more than one year 4 0 12,915
Cash at bank and in hand 5 781,718 856,363
945,064 926,615
Creditors: amounts falling due within one year 6 ( 238,804) ( 167,006)
Net current assets 706,260 759,609
Total assets less current liabilities 709,754 762,515
Provision for liabilities 110,000 110,000
Net assets 819,754 872,515
Capital and reserves
Called-up share capital 7 991 1,486
Capital redemption reserve 614 119
Profit and loss account 818,149 870,910
Total shareholders' funds 819,754 872,515

For the financial year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Cloudis Limited (registered number: 02953884) were approved and authorised for issue by the Board of Directors on 12 March 2024. They were signed on its behalf by:

Thomas Ian Barnes
Director
CLOUDIS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
CLOUDIS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Cloudis Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Suite 2, Queen's House, Queens Road, Chester, CH1 3BQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 6

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 October 2022 4,402 4,402
Additions 1,177 1,177
( 2) ( 2)
At 30 September 2023 5,577 5,577
Accumulated depreciation
At 01 October 2022 1,496 1,496
Charge for the financial year 588 588
At 30 September 2023 2,083 2,083
Net book value
At 30 September 2023 3,494 3,494
At 30 September 2022 2,906 2,906

4. Debtors

2023 2022
£ £
Debtors: amounts falling due within one year
Trade debtors 162,561 28,952
Other debtors 785 785
163,346 29,737
Debtors: amounts falling due after more than one year
Other debtors 0 12,915

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 781,718 856,363

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 221 62
Taxation and social security 3,185 25,992
Other creditors 235,398 140,952
238,804 167,006

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
4,954 A ordinary shares of £ 0.10 each (2022: nil shares) 495 0
4,956 B ordinary shares of £ 0.10 each (2022: nil shares) 496 0
991 0