Company registration number 12801553 (England and Wales)
CLOUDWORKZ LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
PAGES FOR FILING WITH REGISTRAR
CLOUDWORKZ LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
CLOUDWORKZ LIMITED (REGISTERED NUMBER: 12801553)
BALANCE SHEET
AS AT
31 AUGUST 2023
31 August 2023
- 1 -
2023
2022
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,154
-
0
Current assets
Debtors
4
701,089
625,709
Cash at bank and in hand
105,557
111,095
806,646
736,804
Creditors: amounts falling due within one year
5
(237,164)
(549,642)
Net current assets
569,482
187,162
Net assets
571,636
187,162
Capital and reserves
Called up share capital
1
1
Share premium account
1,707,968
626,994
Profit and loss reserves
(1,136,333)
(439,833)
Total equity
571,636
187,162

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 19 August 2024 and are signed on its behalf by:
Mr T C King
Director
CLOUDWORKZ LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
- 2 -
1
Accounting policies
Company information

Cloudworkz Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, 86-90 Paul Street, London, EC2A 4NE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements are prepared on the going concern basis. The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% straight line
Computers
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases

Rentals payable under operating leases are charged to profit or loss on a straight line basis over the term of the relevant lease.

CLOUDWORKZ LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
8
1
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 September 2022
-
0
-
0
-
0
Additions
2,001
384
2,385
At 31 August 2023
2,001
384
2,385
Depreciation and impairment
At 1 September 2022
-
0
-
0
-
0
Depreciation charged in the year
167
64
231
At 31 August 2023
167
64
231
Carrying amount
At 31 August 2023
1,834
320
2,154
At 31 August 2022
-
0
-
0
-
0
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
103,152
89,280
Other debtors
597,937
536,429
701,089
625,709
CLOUDWORKZ LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
76,604
89,330
Trade creditors
23,746
187,829
Taxation and social security
95,909
116,327
Other creditors
40,905
156,156
237,164
549,642
6
Related party transactions

Within other debtors is a balance of £412,325 (2022: nil) owed by a connected company.

 

 

7
Prior period adjustment

The comparative figures for the year ended 31 August 2022 have been restated to include business expenses paid by the director personally which were omitted from the original accounts.

Reconciliation of changes in equity
1 September
31 August
2021
2022
£
£
Adjustments to prior year
Business expenses paid by director
-
(146,032)
Equity as previously reported
(364,228)
333,194
Equity as adjusted
(364,228)
187,162
Analysis of the effect upon equity
Profit and loss reserves
-
(146,032)
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