Company registration number 14888628 (England and Wales)
CLOUD CONTRACTS 365 LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
CLOUD CONTRACTS 365 LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
CLOUD CONTRACTS 365 LTD (REGISTERED NUMBER: 14888628)
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
7,027
-
0
Tangible assets
4
1,928
-
0
8,955
-
0
Current assets
Debtors
5
106,470
-
0
Cash at bank and in hand
234,545
250,001
341,015
250,001
Creditors: amounts falling due within one year
6
(934,358)
(250,000)
Net current (liabilities)/assets
(593,343)
1
Net (liabilities)/assets
(584,388)
1
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(584,389)
-
0
Total equity
(584,388)
1

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 18 March 2025
Ms K A Simmonds
Director
CLOUD CONTRACTS 365 LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Cloud Contracts 365 Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Lodge On The Common, London Road, Tunbridge Wells, Kent, TN2 5BF.

1.1
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 £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents sales of legal technology Saas products.

 

Turnover from a contract to provide services in recognised in the period in which the services are provided.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Patents & licences
33% straight line
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% straight line
CLOUD CONTRACTS 365 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
6
-
0
3
Intangible fixed assets
Other
£
Cost
At 1 January 2024
-
0
Additions
10,440
At 31 December 2024
10,440
Amortisation and impairment
At 1 January 2024
-
0
Amortisation charged for the year
3,413
At 31 December 2024
3,413
Carrying amount
At 31 December 2024
7,027
At 31 December 2023
-
0
CLOUD CONTRACTS 365 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
4
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 January 2024
-
0
Additions
2,202
At 31 December 2024
2,202
Depreciation and impairment
At 1 January 2024
-
0
Depreciation charged in the year
274
At 31 December 2024
274
Carrying amount
At 31 December 2024
1,928
At 31 December 2023
-
0
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
84,046
-
0
Other debtors
22,424
-
0
106,470
-
0
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
229,562
-
0
Trade creditors
13,867
-
0
Taxation and social security
22,269
-
0
Other creditors
668,660
250,000
934,358
250,000

Included within bank loans is a loan of £229,562 which is secured by fixed and floating charges over the company's assets.

CLOUD CONTRACTS 365 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
7
Related party transactions

Included within other creditors is a directors loan of £592,424 (2023 - £250,000). This loan is interest free and repayable on demand.

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