Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29true2023-03-01falseNo description of principal activity21falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11512362 2023-03-01 2024-02-29 11512362 2022-03-01 2023-02-28 11512362 2024-02-29 11512362 2023-02-28 11512362 c:Director1 2023-03-01 2024-02-29 11512362 d:OfficeEquipment 2023-03-01 2024-02-29 11512362 d:OfficeEquipment 2024-02-29 11512362 d:OfficeEquipment 2023-02-28 11512362 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 11512362 d:CurrentFinancialInstruments 2024-02-29 11512362 d:CurrentFinancialInstruments 2023-02-28 11512362 d:Non-currentFinancialInstruments 2024-02-29 11512362 d:Non-currentFinancialInstruments 2023-02-28 11512362 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 11512362 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 11512362 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 11512362 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 11512362 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-02-29 11512362 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 11512362 d:ShareCapital 2024-02-29 11512362 d:ShareCapital 2023-02-28 11512362 d:RetainedEarningsAccumulatedLosses 2024-02-29 11512362 d:RetainedEarningsAccumulatedLosses 2023-02-28 11512362 c:FRS102 2023-03-01 2024-02-29 11512362 c:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 11512362 c:FullAccounts 2023-03-01 2024-02-29 11512362 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11512362 2 2023-03-01 2024-02-29 11512362 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 11512362









FIRST CLOUD SOLUTIONS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
FIRST CLOUD SOLUTIONS LIMITED
 
 
  
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FIRST CLOUD SOLUTIONS LIMITED
FOR THE YEAR ENDED 29 FEBRUARY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of First Cloud Solutions Limited for the year ended 29 February 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountantswe are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal .com/uk/en/about-us /regulation/ethics /acca-rulebook.html.

This report is made solely to the director of First Cloud Solutions Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of First Cloud Solutions Limited and state those matters that we have agreed to state to the director of First Cloud Solutions Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal .com/content/dam/ACCA_Global /Technical /fact/technical-factsheet -163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than First Cloud Solutions Limited and its director for our work or for this report. 

It is your duty to ensure that First Cloud Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of First Cloud Solutions Limited. You consider that First Cloud Solutions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of First Cloud Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Dean Howard & Co
Chartered Certified Accountants
Unit F55
Expressway Studios
1 Dock Road
London
E16 1AH
26 November 2024
Page 1

 
FIRST CLOUD SOLUTIONS LIMITED
REGISTERED NUMBER: 11512362

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
4,522
5,452

  
4,522
5,452

Current assets
  

Debtors: amounts falling due within one year
 6 
15,502
18,809

Cash at bank and in hand
 7 
5,123
38,691

  
20,625
57,500

Creditors: amounts falling due within one year
 8 
(12,134)
(13,086)

Net current assets
  
 
 
8,491
 
 
44,414

Total assets less current liabilities
  
13,013
49,866

Creditors: amounts falling due after more than one year
 9 
-
(10,440)

  

Net assets
  
13,013
39,426


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
13,011
39,424

  
13,013
39,426


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 November 2024.
Page 2

 
FIRST CLOUD SOLUTIONS LIMITED
REGISTERED NUMBER: 11512362
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024




Joseph Caxton-Idowu
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
FIRST CLOUD SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

The company is limited by shares and incorporated in England. The address of the registerd office is
given in the company information page of these financial statements. The company's principal activity is
that of provision of IT consultancy services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
FIRST CLOUD SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25%
on a reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
FIRST CLOUD SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

2024
2023
£
£

Wages and salaries
23,575
13,167

Social security costs
-
594

23,575
13,761


The average monthly number of employees, including directors, during the year was 2 (2023 - 1).


4.


Dividends

29 February
28 February
2024
2023
£
£


Dividends analysis - Ordinary Shares
-
60,700

-
60,700

Page 6

 
FIRST CLOUD SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Tangible fixed assets







Office equipment

£



Cost or valuation


At 1 March 2023
11,482


Additions
578



At 29 February 2024

12,060



Depreciation


At 1 March 2023
6,030


Charge for the year on owned assets
1,508



At 29 February 2024

7,538



Net book value



At 29 February 2024
4,522



At 28 February 2023
5,452


6.


Debtors

29 February
28 February
2024
2023
£
£


Other debtors
15,502
18,809

15,502
18,809


Page 7

 
FIRST CLOUD SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

7.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
5,123
38,691

5,123
38,691



8.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank loans
5,440
5,760

Other taxation and social security
572
4,724

Other creditors
4,922
102

Accruals and deferred income
1,200
2,500

12,134
13,086



9.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
-
10,440

-
10,440


Page 8

 
FIRST CLOUD SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

10.


Loans


Analysis of the maturity of loans is given below:


29 February
28 February
2024
2023
£
£

Amounts falling due within one year

Bank loans
5,440
5,760


5,440
5,760


Amounts falling due 2-5 years

Bank loans
-
10,440


-
10,440


5,440
16,200


 
Page 9