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REGISTERED NUMBER: 06877618 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 March 2024

for

CloudApps Ltd

CloudApps Ltd (Registered number: 06877618)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CloudApps Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Dr S Garnett
A Day
M L Mathias





SECRETARY: S A Corley





REGISTERED OFFICE: 81 St Clements Street
Oxford
Oxfordshire
OX4 1AW





REGISTERED NUMBER: 06877618 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
Chartered Accountants
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL

CloudApps Ltd (Registered number: 06877618)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 219,981 123,825

CURRENT ASSETS
Debtors 5 393,266 255,375
Cash at bank 279,922 740,069
673,188 995,444
CREDITORS
Amounts falling due within one year 6 995,149 1,146,666
NET CURRENT LIABILITIES (321,961 ) (151,222 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(101,980

)

(27,397

)

CAPITAL AND RESERVES
Called up share capital 7 429,019 429,019
Share premium 2,722,483 2,722,483
Retained earnings (3,253,482 ) (3,178,899 )
SHAREHOLDERS' FUNDS (101,980 ) (27,397 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 April 2024 and were signed on its behalf by:




Dr S Garnett - Director


CloudApps Ltd (Registered number: 06877618)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

CloudApps Ltd 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. ACCOUNTING POLICIES

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

At the balance sheet date the company had net liabilities of £101,980 (2023: £27,397). The ability of the company to continue trading is dependant on the continued support of the company's creditors. The director is of the opinion that this support will continue for the foreseeable future and so consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not contain any adjustments that would be required if this support were to be withdrawn.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of three years.

Financial instruments
Debtors and creditors payable/receivable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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, adjusted for indexation where applicable.

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.

CloudApps Ltd (Registered number: 06877618)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 1 April 2023 361,417
Additions 257,482
Disposals (134,924 )
At 31 March 2024 483,975
AMORTISATION
At 1 April 2023 237,592
Amortisation for year 161,326
Eliminated on disposal (134,924 )
At 31 March 2024 263,994
NET BOOK VALUE
At 31 March 2024 219,981
At 31 March 2023 123,825

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 302,191 118,254
Other debtors 91,075 137,121
393,266 255,375

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 127 26,613
Taxation and social security 53,007 39,614
Other creditors 942,015 1,080,439
995,149 1,146,666

CloudApps Ltd (Registered number: 06877618)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
4,290,195 Ordinary 10p 429,019 429,019