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REGISTERED NUMBER: 07497266 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

CLOUDCONNX LIMITED

CLOUDCONNX LIMITED (REGISTERED NUMBER: 07497266)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CLOUDCONNX LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: R K Cottrill
J D Mathieson





SECRETARY: Ms J K R Mccarthy-Penman





REGISTERED OFFICE: Town Hall
Grove Road
Eastbourne
East Sussex
BN21 4UG





REGISTERED NUMBER: 07497266 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

CLOUDCONNX LIMITED (REGISTERED NUMBER: 07497266)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 62,879 93,265
Investments 4 25,000 25,000
87,879 118,265

CURRENT ASSETS
Debtors 5 298,607 198,029
Cash at bank 245,995 295,282
544,602 493,311
CREDITORS
Amounts falling due within one year 6 472,622 339,863
NET CURRENT ASSETS 71,980 153,448
TOTAL ASSETS LESS CURRENT
LIABILITIES

159,859

271,713

CREDITORS
Amounts falling due after more than one
year

7

241,937

283,654
NET LIABILITIES (82,078 ) (11,941 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (82,178 ) (12,041 )
(82,078 ) (11,941 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:





J D Mathieson - Director


CLOUDCONNX LIMITED (REGISTERED NUMBER: 07497266)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents sales of services net of VAT. Turnover is recognised at the point the customer is entitled to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost, 20% on cost and 10% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

3. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 April 2023 209,295 3,351 212,646
Additions - 299 299
At 31 March 2024 209,295 3,650 212,945
DEPRECIATION
At 1 April 2023 117,755 1,626 119,381
Charge for year 29,732 953 30,685
At 31 March 2024 147,487 2,579 150,066
NET BOOK VALUE
At 31 March 2024 61,808 1,071 62,879
At 31 March 2023 91,540 1,725 93,265

CLOUDCONNX LIMITED (REGISTERED NUMBER: 07497266)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 25,000
NET BOOK VALUE
At 31 March 2024 25,000
At 31 March 2023 25,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 187,087 188,442
Amounts owed by group undertakings 1,584 -
Other debtors 2,000 1,558
Prepayments and accrued income 104,186 8,029
Accruals 3,750 -
298,607 198,029

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 41,720 41,198
Trade creditors 128,891 127,784
Tax - 22,784
Social security and other taxes 3,066 2,123
VAT 49,552 47,891
Other creditors 209 166
Directors' loan accounts 25,890 25,890
Accruals and deferred income 221,845 72,027
Accrued expenses 1,449 -
472,622 339,863

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 41,720 41,330
Bank loans - 2-5 years 125,160 124,804
Bank loans more 5 yr by instal 75,057 117,520
241,937 283,654

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 75,057 117,520

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, J D Mathieson maintained his loan to the company. As at 31 March 2024, the company owed him £25,980 (2023: £25,890). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

CLOUDCONNX LIMITED (REGISTERED NUMBER: 07497266)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. ULTIMATE CONTROLLING PARTY

The controlling party is J D Mathieson.

This was by virtue of his 55% holding of the issued share capital.