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REGISTERED NUMBER: 07342147 (England and Wales)












CLOUD NINE INCENTIVES LTD

Unaudited Financial Statements

for the Year Ended 30 June 2024






CLOUD NINE INCENTIVES LTD (REGISTERED NUMBER: 07342147)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CLOUD NINE INCENTIVES LTD

Company Information
for the Year Ended 30 June 2024







Directors: Mrs S Chambers
M B Chambers





Registered office: NP-105, iCentre
Howard Way
Newport Pagnell
Milton Keynes
Buckinghamshire
MK16 9PY





Registered number: 07342147 (England and Wales)





Accountants: Michael Price Associates Ltd
NP-105, iCentre
Howard Way
Newport Pagnell
Milton Keynes
Buckinghamshire
MK16 9PY

CLOUD NINE INCENTIVES LTD (REGISTERED NUMBER: 07342147)

Balance Sheet
30 June 2024

30/6/24 30/6/23
Notes £    £    £    £   
Fixed assets
Tangible assets 4 4,757 2,052

Current assets
Debtors 5 636,122 368,759
Cash at bank and in hand 1,331,089 830,455
1,967,211 1,199,214
Creditors
Amounts falling due within one year 6 1,145,348 557,944
Net current assets 821,863 641,270
Total assets less current liabilities 826,620 643,322

Capital and reserves
Called up share capital 30,164 30,164
Retained earnings 7 796,456 613,158
Shareholders' funds 826,620 643,322

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 January 2025 and were signed on its behalf by:





M B Chambers - Director


CLOUD NINE INCENTIVES LTD (REGISTERED NUMBER: 07342147)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. Statutory information

Cloud Nine Incentives Ltd is a private company, limited by shares , registered in England and Wales. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

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

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 13 (2023 - 12 ) .

CLOUD NINE INCENTIVES LTD (REGISTERED NUMBER: 07342147)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. Tangible fixed assets
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
Cost
At 1 July 2023 7,592 2,428 14,484 24,504
Additions - - 4,854 4,854
At 30 June 2024 7,592 2,428 19,338 29,358
Depreciation
At 1 July 2023 7,459 1,855 13,138 22,452
Charge for year 73 143 1,933 2,149
At 30 June 2024 7,532 1,998 15,071 24,601
Net book value
At 30 June 2024 60 430 4,267 4,757
At 30 June 2023 133 573 1,346 2,052

5. Debtors: amounts falling due within one year
30/6/24 30/6/23
£    £   
Trade debtors 602,455 334,777
Other debtors 27,847 27,847
Deferred tax asset
Accelerated capital allowances 1,177 638
Prepayments 4,643 5,497
636,122 368,759

6. Creditors: amounts falling due within one year
30/6/24 30/6/23
£    £   
Trade creditors 267,940 134,450
Tax 95,982 40,153
Social security and other taxes 149 2,358
VAT 79,172 41,572
Other creditors 54,868 34,729
Directors' current accounts 885 141
Accrued expenses 646,352 304,541
1,145,348 557,944

7. Reserves
Retained
earnings
£   

At 1 July 2023 613,158
Profit for the year 280,298
Dividends (97,000 )
At 30 June 2024 796,456

CLOUD NINE INCENTIVES LTD (REGISTERED NUMBER: 07342147)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. Ultimate controlling party

The controlling party is Mrs S Chambers.

The ultimate controlling party is M B Chambers.