Acorah Software Products - Accounts Production 16.0.110 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 08443787 Mr Kevin Morgan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08443787 2023-03-31 08443787 2024-03-31 08443787 2023-04-01 2024-03-31 08443787 frs-core:CurrentFinancialInstruments 2024-03-31 08443787 frs-core:Non-currentFinancialInstruments 2024-03-31 08443787 frs-core:BetweenOneFiveYears 2024-03-31 08443787 frs-core:ComputerEquipment 2023-04-01 2024-03-31 08443787 frs-core:FurnitureFittings 2023-04-01 2024-03-31 08443787 frs-core:LandBuildings 2024-03-31 08443787 frs-core:LandBuildings 2023-04-01 2024-03-31 08443787 frs-core:LandBuildings 2023-03-31 08443787 frs-core:MotorVehicles 2023-04-01 2024-03-31 08443787 frs-core:PlantMachinery 2024-03-31 08443787 frs-core:PlantMachinery 2023-04-01 2024-03-31 08443787 frs-core:PlantMachinery 2023-03-31 08443787 frs-core:WithinOneYear 2024-03-31 08443787 frs-core:ShareCapital 2024-03-31 08443787 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 08443787 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08443787 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 08443787 frs-bus:SmallEntities 2023-04-01 2024-03-31 08443787 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08443787 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08443787 frs-bus:Director1 2023-04-01 2024-03-31 08443787 frs-bus:Director1 2023-03-31 08443787 frs-bus:Director1 2024-03-31 08443787 frs-countries:EnglandWales 2023-04-01 2024-03-31 08443787 2022-03-31 08443787 2023-03-31 08443787 2022-04-01 2023-03-31 08443787 frs-core:CurrentFinancialInstruments 2023-03-31 08443787 frs-core:Non-currentFinancialInstruments 2023-03-31 08443787 frs-core:BetweenOneFiveYears 2023-03-31 08443787 frs-core:WithinOneYear 2023-03-31 08443787 frs-core:ShareCapital 2023-03-31 08443787 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 08443787
Cloud Wireless Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08443787
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 213,601 170,203
213,601 170,203
CURRENT ASSETS
Stocks 5 2,000 2,000
Debtors 6 119,948 124,866
Cash at bank and in hand 10,755 10,512
132,703 137,378
Creditors: Amounts Falling Due Within One Year 7 (45,625 ) (56,924 )
NET CURRENT ASSETS (LIABILITIES) 87,078 80,454
TOTAL ASSETS LESS CURRENT LIABILITIES 300,679 250,657
Creditors: Amounts Falling Due After More Than One Year 8 (75,851 ) (34,291 )
NET ASSETS 224,828 216,366
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 224,827 216,365
SHAREHOLDERS' FUNDS 224,828 216,366
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Kevin Morgan
Director
19 November 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Cloud Wireless Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08443787 . The registered office is Partridge House, Kennford, Exeter, Devon, EX6 7TW.
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. 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:
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 33.3% Straight Line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 3
Page 4
2.6. Taxation
Income 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are 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: 2 (2023: 4)
2 4
4. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 April 2023 5,352 278,039 283,391
Additions - 127,353 127,353
Disposals - (56,990 ) (56,990 )
As at 31 March 2024 5,352 348,402 353,754
Depreciation
As at 1 April 2023 - 113,188 113,188
Provided during the period - 26,965 26,965
As at 31 March 2024 - 140,153 140,153
Net Book Value
As at 31 March 2024 5,352 208,249 213,601
As at 1 April 2023 5,352 164,851 170,203
5. Stocks
2024 2023
£ £
Materials 2,000 2,000
Page 4
Page 5
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,828 6,367
Other debtors 118,120 118,499
119,948 124,866
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 19,592 29,329
Trade creditors 9,113 8,111
Bank loans and overdrafts 11,040 11,040
Other creditors - 319
Taxation and social security 5,880 8,125
45,625 56,924
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 63,503 12,883
Bank loans 12,348 21,408
75,851 34,291
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 19,592 29,329
Later than one year and not later than five years 63,503 12,883
83,095 42,212
83,095 42,212
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 5
Page 6
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Kevin Morgan 84,504 67,533 (64,212 ) - 87,825
During the year Mr K Morgan, directors also maintained a loan account with the company. At the year-end the directors owed the company £87,825 (2023: owed £84,504). Interest is charged on overdrawn balances at the approved rate when overdrawn and there are no set repayment terms.
Page 6