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Registered number: 03856939
Clouders (Audit & Accounts) Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Clouders (Audit & Accounts) Ltd
Charter House
103-105 Leigh Road
Leigh-on-Sea
Essex
SS9 1JL
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03856939
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 314,000 350,000
Tangible Assets 5 3,435 4,579
Investments 6 100 100
317,535 354,679
CURRENT ASSETS
Debtors 7 372,360 382,736
Cash at bank and in hand 47,696 59,072
420,056 441,808
Creditors: Amounts Falling Due Within One Year 8 (235,989 ) (197,859 )
NET CURRENT ASSETS (LIABILITIES) 184,067 243,949
TOTAL ASSETS LESS CURRENT LIABILITIES 501,602 598,628
Creditors: Amounts Falling Due After More Than One Year 9 (201,111 ) (326,778 )
NET ASSETS 300,491 271,850
CAPITAL AND RESERVES
Called up share capital 10 650 650
Profit and Loss Account 299,841 271,200
SHAREHOLDERS' FUNDS 300,491 271,850
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For the year ending 30 November 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 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 Profit and Loss Account.
On behalf of the board
Mr David Osborn
Director
Mr Sam Bailey
Director
29/08/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Clouders (Audit & Accounts) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03856939 . The registered office is Charter House, 103 - 105 Leigh Road, Leigh-on-Sea, Essex, SS9 1JL.
2. Accounting Policies
2.1. 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.
2.2. 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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill represents the amount paid in connection with the acquisition of a business in 1999 and an additional acquisition in 2008. The directors review the carrying value of the goodwill on an annual basis and amortise any diminution in value.
2.4. 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:
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
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2.5. Taxation
Corporation 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 21 (2022: 21)
21 21
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2022 800,000
As at 30 November 2023 800,000
Amortisation
As at 1 December 2022 450,000
Provided during the period 36,000
As at 30 November 2023 486,000
Net Book Value
As at 30 November 2023 314,000
As at 1 December 2022 350,000
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5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 December 2022 18,112 58,866 76,978
As at 30 November 2023 18,112 58,866 76,978
Depreciation
As at 1 December 2022 17,844 54,555 72,399
Provided during the period 67 1,077 1,144
As at 30 November 2023 17,911 55,632 73,543
Net Book Value
As at 30 November 2023 201 3,234 3,435
As at 1 December 2022 268 4,311 4,579
6. Investments
Unlisted
£
Cost
As at 1 December 2022 100
As at 30 November 2023 100
Provision
As at 1 December 2022 -
As at 30 November 2023 -
Net Book Value
As at 30 November 2023 100
As at 1 December 2022 100
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 226,961 254,119
Amounts recoverable on contracts 130,976 116,201
Prepayments and accrued income 14,423 12,416
372,360 382,736
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8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 30,137 13,067
Bank loans and overdrafts 14,852 14,852
Corporation tax 25,634 26,694
Other taxes and social security 8,467 9,600
VAT 72,175 81,429
Other creditors 31,643 34,832
Accruals and deferred income 9,721 2,309
Directors' loan accounts 43,360 15,076
235,989 197,859
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 53,534 73,255
Directors loan account 147,577 253,523
201,111 326,778
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 650 650
11. Dividends
2023 2022
£ £
On equity shares:
Interim dividend paid 25,440 32,330
25,440 32,330
12. Related Party Transactions
The firm's premises is owned by two of the directors and no rent has been charged in the year.
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