Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-282024-02-28The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-03-01falseNo description of principal activity22truetruefalse 08416404 2023-03-01 2024-02-28 08416404 2022-03-01 2023-02-28 08416404 2024-02-28 08416404 2023-02-28 08416404 2022-03-01 08416404 c:Director1 2023-03-01 2024-02-28 08416404 d:Buildings 2023-03-01 2024-02-28 08416404 d:Buildings 2024-02-28 08416404 d:Buildings 2023-02-28 08416404 d:Buildings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-28 08416404 d:MotorVehicles 2023-03-01 2024-02-28 08416404 d:MotorVehicles 2024-02-28 08416404 d:MotorVehicles 2023-02-28 08416404 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-01 2024-02-28 08416404 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-28 08416404 d:FreeholdInvestmentProperty 2024-02-28 08416404 d:FreeholdInvestmentProperty 2023-02-28 08416404 d:CurrentFinancialInstruments 2024-02-28 08416404 d:CurrentFinancialInstruments 2023-02-28 08416404 d:Non-currentFinancialInstruments 2024-02-28 08416404 d:Non-currentFinancialInstruments 2023-02-28 08416404 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-28 08416404 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 08416404 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-28 08416404 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 08416404 d:ShareCapital 2024-02-28 08416404 d:ShareCapital 2023-02-28 08416404 d:InvestmentPropertiesRevaluationReserve 2024-02-28 08416404 d:InvestmentPropertiesRevaluationReserve 2023-02-28 08416404 d:RetainedEarningsAccumulatedLosses 2024-02-28 08416404 d:RetainedEarningsAccumulatedLosses 2023-02-28 08416404 c:OrdinaryShareClass1 2023-03-01 2024-02-28 08416404 c:OrdinaryShareClass1 2024-02-28 08416404 c:OrdinaryShareClass1 2023-02-28 08416404 c:FRS102 2023-03-01 2024-02-28 08416404 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 08416404 c:FullAccounts 2023-03-01 2024-02-28 08416404 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 08416404 d:HirePurchaseContracts d:WithinOneYear 2024-02-28 08416404 d:HirePurchaseContracts d:WithinOneYear 2023-02-28 08416404 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-02-28 08416404 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-02-28 08416404 d:AcceleratedTaxDepreciationDeferredTax 2024-02-28 08416404 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 08416404 d:OtherDeferredTax 2024-02-28 08416404 d:OtherDeferredTax 2023-02-28 08416404 e:PoundSterling 2023-03-01 2024-02-28 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08416404










CLOUD PROPERTIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2024

 
CLOUD PROPERTIES LIMITED
REGISTERED NUMBER: 08416404

BALANCE SHEET
AS AT 28 FEBRUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
78,669
111,761

Investment property
 5 
2,250,812
2,250,812

  
2,329,481
2,362,573

Current assets
  

Debtors: amounts falling due within one year
 6 
8,697
4,843

Cash at bank and in hand
 7 
3,160
7,413

Current Liablities
  
11,857
12,256

Creditors: amounts falling due within one year
 8 
(1,736,358)
(1,773,553)

Net current liabilities
  
 
 
(1,724,501)
 
 
(1,761,297)

Total assets less current liabilities
  
604,980
601,276

Creditors: amounts falling due after more than one year
  
(16,970)
(38,197)

Provisions for liabilities
  

Deferred tax
 11 
(40,583)
(44,933)

  
 
 
(40,583)
 
 
(44,933)

Net assets
  
547,427
518,146


Capital and reserves
  

Called up share capital 
 12 
1,000
1,000

Investment property reserve
  
183,399
183,399

Profit and loss account
  
363,028
333,747

  
547,427
518,146

Page 1

 
CLOUD PROPERTIES LIMITED
REGISTERED NUMBER: 08416404

BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2024

The directors consider 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 directors acknowledge their 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 statement of comprehensive income 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 by: 



A P Swaisland
Director

Date: 27 November 2024

The notes on pages 3 to 10 form part of these financial statements.
Page 2

 
CLOUD PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

1.


General information

Cloud Properties Limited is a private Company, limited by share capital and incorporated in England and Wales.
The Company's Registered office and prinicpal place of business is 1 High Street, Thatcham, Berkshire, RG19 3JG.

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. 
Revenue comprises rental income from operating leases which are credited to the Statement of Comprehensive Income on a straight line basis over the term of the relevant lease.

 
2.3

Going concern

The company has a net current liabilities position due to the amounts owed to a director. The director has confirmed that they will not seek repayment of this loan until the company has sufficient cash resources to do so. For that reason the financial statements are prepared on a going concern basis. 

 
2.4

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, as below.

Depreciation is provided on the following basis:

Improvements to property
-
20%
straight line
Motor vehicles
-
25%
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.

Page 3

 
CLOUD PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

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.

  
2.7

Investment property

Investment property is carried at fair value determined annually by the directors or external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are initially recognised in the Statement of Comprehensive Income and then transferred to a separate Investment Property Revaluation Reserve.

 
2.8

Borrowing costs

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

 
2.9

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.

 
2.10

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.

Page 4

 
CLOUD PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

2.Accounting policies (continued)

 
2.11

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.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

  
2.13

Financial instruments

The Company only enters into basic financial instrument transactions that resut in the recognition of financial assets and liablities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.14

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.


3.


Employees

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

Page 5

 
CLOUD PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

4.


Tangible fixed assets





Improvements to property
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 March 2023
19,434
189,542
208,976


Disposals
-
(14,542)
(14,542)



At 28 February 2024

19,434
175,000
194,434



Depreciation


At 1 March 2023
4,553
92,662
97,215


Charge for the year on owned assets
3,887
22,559
26,446


Disposals
-
(7,896)
(7,896)



At 28 February 2024

8,440
107,325
115,765



Net book value



At 28 February 2024
10,994
67,675
78,669



At 28 February 2023
14,881
96,880
111,761

Page 6

 
CLOUD PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 March 2023
2,250,812



At 28 February 2024
2,250,812

The 2024 valuations were made by the directors, on an open market value for existing use basis.

2024
2023
£
£

Revaluation reserves


At 1 March 2023
183,399
183,399

At 28 February 2024
183,399
183,399



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
2,025,413
2,025,413

2,025,413
2,025,413


6.


Debtors

2024
2023
£
£

Trade debtors
3,340
1,960

Other debtors
1,720
1,720

Prepayments and accrued income
3,637
1,163

8,697
4,843


Page 7

 
CLOUD PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
3,160
7,413

Less: bank overdrafts
(32)
-

3,128
7,413



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
32
-

Trade creditors
26,078
11,814

Corporation tax
14,419
17,850

Other taxation and social security
48,565
48,328

Obligations under finance lease and hire purchase contracts
31,750
42,093

Other creditors
1,573,139
1,626,485

Accruals and deferred income
42,375
26,983

1,736,358
1,773,553



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
16,970
38,197

16,970
38,197



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
31,750
42,093

Between 1-5 years
16,970
38,197

48,720
80,290

Page 8

 
CLOUD PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

11.


Deferred taxation




2024
2023


£

£






At beginning of year
(44,933)
(51,466)


Charged to profit or loss
4,350
6,533



At end of year
(40,583)
(44,933)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
15,767
11,417

Capital gains
(56,350)
(56,350)

(40,583)
(44,933)


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,000 (2023 - 1,000) Ordinary shares of £1 each
1,000
1,000



13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £326 (2023 - £nil). Contributions totalling £130 (2023 - £nil) were payable to the fund at the balance sheet date and are included in creditors.


14.


Related party transactions

At the balance sheet date £985,694 (2023: £1,056,241) was owed to the director A P Swaisland. The amount is non interest bearing and is repayable on demand.
At the balance sheet date £571,317 (2023: £555,627) was owed to Touch Blue Limited, a Company under common control. The amount is non interest bearing and is repayable on demand.
At the balance sheet date £14,616 (2023: £14,616) was owed to AONC Limited, a Company under common control. The amount is non interest bearing and repayable upon demand.

Page 9

 
CLOUD PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

15.


Controlling party

The Company is controlled by A P Swaisland, by virtue of his majority shareholding.


Page 10