CloudEQ Limited 14529638 false 2022-12-08 2023-12-31 2023-12-31 The principal activity of the company is other information technology service activities Digita Accounts Production Advanced 6.30.9574.0 true true 14529638 2022-12-08 2023-12-31 14529638 2023-12-31 14529638 bus:OrdinaryShareClass1 2023-12-31 14529638 core:CurrentFinancialInstruments 2023-12-31 14529638 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 14529638 bus:SmallEntities 2022-12-08 2023-12-31 14529638 bus:Audited 2022-12-08 2023-12-31 14529638 bus:FilletedAccounts 2022-12-08 2023-12-31 14529638 bus:SmallCompaniesRegimeForAccounts 2022-12-08 2023-12-31 14529638 bus:RegisteredOffice 2022-12-08 2023-12-31 14529638 bus:Director1 2022-12-08 2023-12-31 14529638 bus:Director2 2022-12-08 2023-12-31 14529638 bus:Director3 2022-12-08 2023-12-31 14529638 bus:OrdinaryShareClass1 2022-12-08 2023-12-31 14529638 bus:PrivateLimitedCompanyLtd 2022-12-08 2023-12-31 14529638 1 2022-12-08 2023-12-31 14529638 countries:UnitedKingdom 2022-12-08 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14529638

CloudEQ Limited

Filleted Financial Statements

for the Period from 8 December 2022 to 31 December 2023

 

CloudEQ Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

CloudEQ Limited

Company Information

Directors

Scott Anthony White

Robert Albert Golob

Sean Christopher Barker

Company number

14529638

Registered office

1 St James Court Whitefriars
Norwich
Norfolk
England
NR3 1RU

Accountants

Charter Tax Consulting Limited
8th Floor
1 Southampton Street
London
United Kingdom
WC2R 0LR

Auditors

Lindeyer Francis Ferguson Limited
North House
198 High Street
Tonbridge
Kent
TN9 1BE

 

CloudEQ Limited

(Registration number: 14529638)
Balance Sheet as at 31 December 2023

Note

2023
£

Current assets

 

Debtors

3

86,305

Cash at bank and in hand

 

57,991

 

144,296

Creditors: Amounts falling due within one year

4

(662,999)

Net liabilities

 

(518,703)

Capital and reserves

 

Called up share capital

5

1,000

Retained earnings

(519,703)

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 Board on 26 February 2025 and signed on its behalf by:
 

Sean Christopher Barker
Director

   
     
 

CloudEQ Limited

Notes to the Financial Statements for the Period from 8 December 2022 to 31 December 2023

1

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

The financial statements have been prepared for a period for longer than one year. The Company has elected 31 December to be its reporting date giving rise to a long period ended to 31 December 2023 from the date of incorporation.

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

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

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.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 3 March 2025 was James Mathieson FCA, who signed for and on behalf of Lindeyer Francis Ferguson Limited.

 

CloudEQ Limited

Notes to the Financial Statements for the Period from 8 December 2022 to 31 December 2023

2

Staff numbers

The average number of persons employed by the Company (including Directors) during the period, was 1.

3

Debtors

Current

Note

2023
£

Trade debtors

 

85,305

Amounts owed by related parties

6

1,000

   

86,305

4

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Trade creditors

 

1,009

Amounts owed to related parties

6

589,540

Taxation and social security

 

14,060

Accruals and deferred income

 

58,390

 

662,999

5

Share capital

Allotted, called up and fully paid shares

2023

No.

£

Ordinary shares of £1 each

1,000

1,000

   

6

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

7

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.