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Registration number: 08324486

CLOUD (HOLDINGS) LIMITED

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

CLOUD (HOLDINGS) LIMITED

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

CLOUD (HOLDINGS) LIMITED

Company Information

Directors

C Brennan

P G Brennan

Registered office

4th Floor
49 St James's Street
London
SW1A 1AH

Accountants

K&S Professionals Limited
Chartered Certified Accountants
41 Rivington Crescent
Mill Hill
London
NW7 2LF

 

CLOUD (HOLDINGS) LIMITED

(Registration number: 08324486)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Other financial assets

5

300,000

300,000

Current assets

 

Debtors

6

401,384

398,181

Creditors: Amounts falling due within one year

7

(249,485)

(248,485)

Net current assets

 

151,899

149,696

Net assets

 

451,899

449,696

Capital and reserves

 

Called up share capital

412

412

Share premium reserve

199,594

199,594

Capital redemption reserve

21

21

Retained earnings

251,872

249,669

Shareholders' funds

 

451,899

449,696

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 December 2024 and signed on its behalf by:
 

.........................................
P G Brennan
Director

 

CLOUD (HOLDINGS) LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
4th Floor
49 St James's Street
London
SW1A 1AH

These financial statements were authorised for issue by the Board on 1 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Summary of disclosure exemptions

The financial statements contain information about Cloud (Holdings) Limited as an individual company and do
not contain consolidated financial information as the parent of a group. The company is exempt under Section
399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Going concern

The directors have considered the company’s financial resources and performance and believe that the company
is well placed to manage its business risks successfully and that the company has adequate resources to continue
in operational existence for the foreseeable future. Consequently, they continue to adopt the going concern basis
of accounting in preparing the annual financial statements.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Investments

Investments in subsidiary undertakings are recognised at cost.

 

CLOUD (HOLDINGS) LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investments

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

CLOUD BOOKING LIMITED

4th Floor
49 St James's Street
London
SW1A1AH

England

Ordinary

100%

100%

 

CLOUD (HOLDINGS) LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Subsidiary undertakings

CLOUD BOOKING LIMITED

The principal activity of CLOUD BOOKING LIMITED is workspace management software and bookings.

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 July 2023

300,000

300,000

At 30 June 2024

300,000

300,000

Impairment

Carrying amount

At 30 June 2024

300,000

300,000

6

Debtors

Current

2024
£

2023
£

Other debtors

401,384

398,181

 

401,384

398,181

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

244,859

244,859

Taxation and social security

 

825

825

Accruals and deferred income

 

3,801

2,801

 

249,485

248,485

 

CLOUD (HOLDINGS) LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

8

Related party transactions

Transactions with directors

2024

At 1 July 2023
£

Advances to director
£

At 30 June 2024
£

C Brennan

71,196

1,601

72,797

P G Brennan

71,195

1,602

72,797

2023

At 1 July 2022
£

Advances to director
£

At 30 June 2023
£

C Brennan

69,800

1,396

71,196

P G Brennan

69,799

1,396

71,195

Interest of £3,203 has been charged at the official HM Revenue & Customs rate.

This balance was repaid after the balance sheet date.
 

Loans from related parties

Included in creditors amounts falling due within one year is an amount of £244,858 (2023: £244,858) owed to a related company.

9

Ultimate Controlling Party

The controlling party is P. G. Brennan and C. Brennan..