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REGISTERED NUMBER: 11878532 (England and Wales)















Financial Statements for the Year Ended 30 September 2023

for

Cloud Cycle Ltd.

Cloud Cycle Ltd. (Registered number: 11878532)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Cloud Cycle Ltd.

Company Information
for the Year Ended 30 September 2023







DIRECTORS: R Elfenbein
R L Pennant-Rea
M A Stockdale





REGISTERED OFFICE: C/o Dragon Argent Limited
63 Bermondsey Street
London
SE1 3XF





REGISTERED NUMBER: 11878532 (England and Wales)





ACCOUNTANTS: Dragon Argent Limited
63 Bermondsey Street
London
SE1 3XF

Cloud Cycle Ltd. (Registered number: 11878532)

Statement of Financial Position
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 90,476 19,871

CURRENT ASSETS
Stocks 38,639 101,382
Debtors 5 501,713 540,867
Cash at bank 564,492 244,811
1,104,844 887,060
CREDITORS
Amounts falling due within one year 6 253,761 127,159
NET CURRENT ASSETS 851,083 759,901
TOTAL ASSETS LESS CURRENT
LIABILITIES

941,559

779,772

CAPITAL AND RESERVES
Called up share capital 21,887 20,670
Share premium 4,064,362 3,609,320
Other reserves 999,999 -
Retained earnings (4,144,689 ) (2,850,218 )
941,559 779,772

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2023 and were signed on its behalf by:



R Elfenbein - Director


Cloud Cycle Ltd. (Registered number: 11878532)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Cloud Cycle 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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 are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - Straight line over 5 years and Straight line over 2 years
Fixtures and fittings - Straight line over 5 years
Computer equipment - Straight line over 3 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cloud Cycle Ltd. (Registered number: 11878532)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 15 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 October 2022 - 4,684 34,437 39,121
Additions 81,755 2,500 5,553 89,808
Disposals - - (1,732 ) (1,732 )
At 30 September 2023 81,755 7,184 38,258 127,197
DEPRECIATION
At 1 October 2022 - 2,087 17,163 19,250
Charge for year 6,534 937 11,183 18,654
Eliminated on disposal - - (1,183 ) (1,183 )
At 30 September 2023 6,534 3,024 27,163 36,721
NET BOOK VALUE
At 30 September 2023 75,221 4,160 11,095 90,476
At 30 September 2022 - 2,597 17,274 19,871

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 58,788 -
Other debtors 442,925 540,867
501,713 540,867

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade creditors 186,386 57,058
Taxation and social security 35,927 45,622
Other creditors 31,448 24,479
253,761 127,159

7. POST BALANCE SHEET EVENTS

Included in other reserves is an amount of £999,999 which relates to advanced subscription agreements with shares to be issued after the balance sheet date.