Registration number:
CloudEQ Limited
for the Period from 8 December 2022 to 31 December 2023
CloudEQ Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
CloudEQ Limited
Company Information
Directors |
Scott Anthony White Robert Albert Golob Sean Christopher Barker |
Company number |
14529638 |
Registered office |
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Accountants |
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Auditors |
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CloudEQ Limited
(Registration number: 14529638)
Balance Sheet as at 31 December 2023
Note |
2023 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net liabilities |
( |
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Capital and reserves |
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Called up share capital |
1,000 |
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Retained earnings |
(519,703) |
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Shareholders' deficit |
(518,703) |
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
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CloudEQ Limited
Notes to the Financial Statements for the Period from 8 December 2022 to 31 December 2023
Accounting policies |
Company information
CloudEQ Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 St James Court Whitefriars, Norwich, NR3 1RU.
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies’ regime. 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 financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Going concern
The directors consider the CloudEQ Limited to continue to be a going concern as growth has been robust and the directors have been provided with assurances that the parent company will continue to support the company for a period of more than 12 months. The directors believe that the parent company is able to provide this support.
Disclosure of long or short period
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Financial instruments
The Company only has financial instruments which are classified as basic financial instruments. Short-term debtors and creditors are measured at the settlement value. Any losses from impairment are recognised in profit and loss.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
CloudEQ Limited
Notes to the Financial Statements for the Period from 8 December 2022 to 31 December 2023
Foreign Exchange
Judgements and key sources of estimation uncertainty
In the application of the Company’s accounting policies, the Directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
Audit report
CloudEQ Limited
Notes to the Financial Statements for the Period from 8 December 2022 to 31 December 2023
Staff numbers |
The average number of persons employed by the Company (including Directors) during the period, was
Debtors |
Current |
Note |
2023 |
Trade debtors |
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Amounts owed by related parties |
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Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
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Due within one year |
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Trade creditors |
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Amounts owed to related parties |
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Taxation and social security |
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Accruals and deferred income |
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Share capital |
Allotted, called up and fully paid shares
2023 |
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No. |
£ |
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1,000 |
Related party transactions |
At the Balance Sheet date the immediate parent company - CloudEQ Technologies (Cyprus) Limited, owed the company £1,000 in relation to unpaid share capital.
During the period, CloudEQ Inc - the ultimate parent company, paid invoices on behalf of the company amounting to £594,675 and advanced cash of £8,028 to the company. At the Balance Sheet date the company owed the ultimate parent £589,540.
CloudEQ Limited
Notes to the Financial Statements for the Period from 8 December 2022 to 31 December 2023
Ultimate controlling party |
The Company is a wholly owned subsidiary of CloudEQ Technologies (Cyprus) Limited, it's registered office is 17 Ifigenias Street, 2007 Strovolos, Nicosia, Cyprus.
The ultimate parent is CloudEQ Incorporated, it's registered office is 28175 Haggerty Road, Novi, Michigan 48377 USA.
Mr S Barker is considered the ultimate controlling party of CloudEQ Limited by virtue of his shareholding in CloudEQ Incorporated.