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REGISTERED NUMBER: SC564043 (Scotland)











































Cloud Farming Limited

Unaudited Financial Statements

for the Year Ended 30th April 2024






Cloud Farming Limited (Registered number: SC564043)






Contents of the Financial Statements
for the year ended 30th April 2024




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 6


Cloud Farming Limited

Company Information
for the year ended 30th April 2024







Directors: J P M Hopkinson
C G Leslie





Secretary: J P M Hopkinson





Registered office: Kilduff Farm Office
Drem
North Berwick
East Lothian
EH39 5BD





Registered number: SC564043 (Scotland)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Cloud Farming Limited (Registered number: SC564043)

Balance Sheet
30th April 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 1,374 2,029

Current assets
Stocks 40,201 19,225
Debtors 5 86,545 97,308
Cash at bank 5,271 1,864
132,017 118,397
Creditors
Amounts falling due within one year 6 85,411 64,904
Net current assets 46,606 53,493
Total assets less current liabilities 47,980 55,522

Creditors
Amounts falling due after more than one
year

7

8,596

16,603
Net assets 39,384 38,919

Capital and reserves
Called up share capital 4 4
Retained earnings 39,380 38,915
39,384 38,919

Cloud Farming Limited (Registered number: SC564043)

Balance Sheet - continued
30th April 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27th January 2025 and were signed on its behalf by:




C G Leslie - Director



J P M Hopkinson - Director


Cloud Farming Limited (Registered number: SC564043)

Notes to the Financial Statements
for the year ended 30th April 2024

1. Statutory information

Cloud Farming Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned.

Turnover arising from the trading of grain is recognised when the significant risks and rewards of ownership have passed to the buyer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Office equipment - 25% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals and bank loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Trade debtors, trade creditors and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Cloud Farming Limited (Registered number: SC564043)

Notes to the Financial Statements - continued
for the year ended 30th April 2024

2. Accounting policies - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Going concern
The directors have considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and has an expectation that the company should be in a position to continue trading in the current format for the foreseeable future. Accordingly,they continue to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

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

4. Tangible fixed assets
Plant and Office
machinery equipment Totals
£    £    £   
Cost
At 1st May 2023 300 5,070 5,370
Additions - 303 303
At 30th April 2024 300 5,373 5,673
Depreciation
At 1st May 2023 108 3,233 3,341
Charge for year 38 920 958
At 30th April 2024 146 4,153 4,299
Net book value
At 30th April 2024 154 1,220 1,374
At 30th April 2023 192 1,837 2,029

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 69,658 97,304
Other debtors 16,887 4
86,545 97,308

Cloud Farming Limited (Registered number: SC564043)

Notes to the Financial Statements - continued
for the year ended 30th April 2024

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 8,760 8,760
Trade creditors 54,282 47,245
Taxation and social security 116 6,020
Other creditors 22,253 2,879
85,411 64,904

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 8,596 16,603