Company Registration No. 11955470 (England and Wales)
The Way Of The Cloud Ltd
Unaudited accounts
for the year ended 31 July 2023
The Way Of The Cloud Ltd
Unaudited accounts
Contents
The Way Of The Cloud Ltd
Company Information
for the year ended 31 July 2023
Company Number
11955470 (England and Wales)
Registered Office
Suite 10, Platfform Devon Place
Newport
NP20 4NW
United Kingdom
The Way Of The Cloud Ltd
Statement of financial position
as at 31 July 2023
Tangible assets
5,341
6,772
Cash at bank and in hand
10,778
8,496
Creditors: amounts falling due within one year
(18,523)
3,054
Net current (liabilities)/assets
(4,755)
14,664
Called up share capital
1
1
Profit and loss account
585
21,435
Shareholders' funds
586
21,436
For the 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. 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 15 April 2024 and were signed on its behalf by
Jez Daniels
Director
Company Registration No. 11955470
The Way Of The Cloud Ltd
Notes to the Accounts
for the year ended 31 July 2023
The Way Of The Cloud Ltd is a private company, limited by shares, registered in England and Wales, registration number 11955470. The registered office is Suite 10, Platfform Devon Place, , Newport, NP20 4NW, 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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
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:
Plant & machinery
25% straight-line method
Motor vehicles
20% straight-line method
Fixtures & fittings
25% straight-line method
Computer equipment
25% straight-line method
The Way Of The Cloud Ltd
Notes to the Accounts
for the year ended 31 July 2023
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 August 2022
2,089
7,760
9,849
At 31 July 2023
2,089
8,939
11,028
At 1 August 2022
704
2,373
3,077
Charge for the year
522
2,088
2,610
At 31 July 2023
1,226
4,461
5,687
At 31 July 2023
863
4,478
5,341
At 31 July 2022
1,385
5,387
6,772
Amounts falling due within one year
Accrued income and prepayments
110
-
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
202
-
Taxes and social security
14,956
7,498
Loans from directors
(1,543)
(17,667)
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
Details of the loan to the Director is set out in the note above. Amounts owed from the Director are unsecured and interest-free and was repaid in the current tax year via dividends.
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).