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Registration number: 10839370

Cloud Healthcare Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

Cloud Healthcare Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Cloud Healthcare Ltd

Company Information

Directors

Mr Imraan Khan

Mr Philip Ashton

Mr David Ashton

Registered office

155 Elliott Street
Tyldesley
Manchester
M29 8FL

Accountants

EKWilliams Accountants Limited
1 Pavilion Square
Westhoughton
Bolton
BL5 3AJ

 

Cloud Healthcare Ltd

(Registration number: 10839370)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

100,000

100,000

Current assets

 

Debtors

5

97,173

97,173

Investments

6

987,882

987,882

Cash at bank and in hand

 

8,448

7,303

 

1,093,503

1,092,358

Creditors: Amounts falling due within one year

7

(92,991)

(562,826)

Net current assets

 

1,000,512

529,532

Total assets less current liabilities

 

1,100,512

629,532

Creditors: Amounts falling due after more than one year

7

(583,200)

(655,358)

Net assets/(liabilities)

 

517,312

(25,826)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

517,212

(25,926)

Shareholders' funds/(deficit)

 

517,312

(25,826)

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

Directors' responsibilities:

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

The directors acknowledge their 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 Profit and Loss Account.

 

Cloud Healthcare Ltd

(Registration number: 10839370)
Balance Sheet as at 31 July 2023

Approved and authorised by the Board on 22 March 2024 and signed on its behalf by:
 

.........................................
Mr Imraan Khan
Director

 

Cloud Healthcare Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
155 Elliott Street
Tyldesley
Manchester
M29 8FL
England

These financial statements were authorised for issue by the Board on 22 March 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 financial statements were prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet 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.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Cloud Healthcare Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

Cloud Healthcare Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 August 2022

100,000

100,000

At 31 July 2023

100,000

100,000

Depreciation

Carrying amount

At 31 July 2023

100,000

100,000

At 31 July 2022

100,000

100,000

Included within the net book value of land and buildings above is £100,000 (2022 - £100,000) in respect of freehold land and buildings.
 

5

Debtors

Current

2023
£

2022
£

Other debtors

97,173

97,173

6

Current asset investments

2023
£

2022
£

Shares in group undertakings

987,882

987,882

 

Cloud Healthcare Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

69,642

60,504

Amounts owed to group undertakings and undertakings in which the company has a participating interest

-

478,972

Accruals and deferred income

 

5,000

5,000

Other creditors

 

18,349

18,350

 

92,991

562,826

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

583,200

655,358

A debenture has been lodged at Companies House, in favour of Barclays bank, with fixed and floating charges over all assets, dated 10 May 2018.

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

583,200

655,358

2023
£

2022
£

Current loans and borrowings

Bank borrowings

69,642

60,504