Acorah Software Products - Accounts Production 15.0.500 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 09380346 Mr S Chudasama Ms L Chudasama Mr T Gough iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09380346 2023-03-31 09380346 2024-03-31 09380346 2023-04-01 2024-03-31 09380346 frs-core:CurrentFinancialInstruments 2024-03-31 09380346 frs-core:ComputerEquipment 2024-03-31 09380346 frs-core:ComputerEquipment 2023-04-01 2024-03-31 09380346 frs-core:ComputerEquipment 2023-03-31 09380346 frs-core:MotorVehicles 2024-03-31 09380346 frs-core:MotorVehicles 2023-04-01 2024-03-31 09380346 frs-core:MotorVehicles 2023-03-31 09380346 frs-core:PlantMachinery 2024-03-31 09380346 frs-core:PlantMachinery 2023-04-01 2024-03-31 09380346 frs-core:PlantMachinery 2023-03-31 09380346 frs-core:ShareCapital 2024-03-31 09380346 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 09380346 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09380346 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 09380346 frs-bus:SmallEntities 2023-04-01 2024-03-31 09380346 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09380346 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09380346 frs-bus:Director1 2023-04-01 2024-03-31 09380346 frs-bus:Director2 2023-04-01 2024-03-31 09380346 frs-bus:Director3 2023-04-01 2024-03-31 09380346 frs-countries:EnglandWales 2023-04-01 2024-03-31 09380346 2022-03-31 09380346 2023-03-31 09380346 2022-04-01 2023-03-31 09380346 frs-core:CurrentFinancialInstruments 2023-03-31 09380346 frs-core:ShareCapital 2023-03-31 09380346 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 09380346
Clearly Cloudy Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 09380346
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 116,440 65,516
116,440 65,516
CURRENT ASSETS
Debtors 4 152,520 149,175
Cash at bank and in hand 725,290 611,055
877,810 760,230
Creditors: Amounts Falling Due Within One Year 5 (163,119 ) (141,784 )
NET CURRENT ASSETS (LIABILITIES) 714,691 618,446
TOTAL ASSETS LESS CURRENT LIABILITIES 831,131 683,962
PROVISIONS FOR LIABILITIES
Deferred Taxation (22,124 ) (12,448 )
NET ASSETS 809,007 671,514
CAPITAL AND RESERVES
Called up share capital 6 106 106
Income Statement 808,901 671,408
SHAREHOLDERS' FUNDS 809,007 671,514
Page 1
Page 2
For the year ending 31 March 2024 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr S Chudasama
Director
30/07/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 33% reducing balance
1.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 9 (2023: 10)
9 10
Page 3
Page 4
3. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 3,536 66,090 30,374 100,000
Additions 1,158 61,090 7,546 69,794
Disposals (573 ) - (4,463 ) (5,036 )
As at 31 March 2024 4,121 127,180 33,457 164,758
Depreciation
As at 1 April 2023 1,559 16,523 16,402 34,484
Provided during the period 747 12,392 4,134 17,273
Disposals (425 ) - (3,014 ) (3,439 )
As at 31 March 2024 1,881 28,915 17,522 48,318
Net Book Value
As at 31 March 2024 2,240 98,265 15,935 116,440
As at 1 April 2023 1,977 49,567 13,972 65,516
4. Debtors
2024 2023
£ £
Due within one year
Trade debtors 143,544 145,380
Prepayments and accrued income 3,976 3,795
Other debtors 5,000 -
152,520 149,175
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 60,892 248
Other creditors 3,692 19,875
Taxation and social security 98,535 121,661
163,119 141,784
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 106 106
7. General Information
Clearly Cloudy Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09380346 . The registered office is Hilltop House, Dads Hill, Cross In Hand, HEATHFIELD, Sussex, TN21 0SY.
Page 4