IRIS Accounts Production v24.3.2.46 07880441 director 1.4.23 30.9.24 30.9.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh078804412023-03-31078804412024-09-30078804412023-04-012024-09-30078804412022-03-31078804412022-04-012023-03-31078804412023-03-3107880441ns15:EnglandWales2023-04-012024-09-3007880441ns14:PoundSterling2023-04-012024-09-3007880441ns10:Director12023-04-012024-09-3007880441ns10:PrivateLimitedCompanyLtd2023-04-012024-09-3007880441ns10:SmallEntities2023-04-012024-09-3007880441ns10:AuditExemptWithAccountantsReport2023-04-012024-09-3007880441ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-09-3007880441ns10:SmallCompaniesRegimeForAccounts2023-04-012024-09-3007880441ns10:FullAccounts2023-04-012024-09-3007880441ns10:RegisteredOffice2023-04-012024-09-3007880441ns5:CurrentFinancialInstruments2024-09-3007880441ns5:CurrentFinancialInstruments2023-03-3107880441ns5:Non-currentFinancialInstruments2024-09-3007880441ns5:Non-currentFinancialInstruments2023-03-3107880441ns5:ShareCapital2024-09-3007880441ns5:ShareCapital2023-03-3107880441ns5:RetainedEarningsAccumulatedLosses2024-09-3007880441ns5:RetainedEarningsAccumulatedLosses2023-03-3107880441ns5:ComputerEquipment2023-03-3107880441ns5:ComputerEquipment2023-04-012024-09-3007880441ns5:ComputerEquipment2024-09-3007880441ns5:ComputerEquipment2023-03-3107880441ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-09-3007880441ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3107880441ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-09-3007880441ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-03-310788044132024-09-300788044152023-03-3107880441ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-09-3007880441ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-310788044122024-09-300788044162023-03-310788044112024-09-300788044172023-03-310788044142024-09-300788044182023-03-3107880441ns5:Secured2024-09-3007880441ns5:Secured2023-03-3107880441ns5:RetainedEarningsAccumulatedLosses2023-03-3107880441ns5:RetainedEarningsAccumulatedLosses2023-04-012024-09-30078804411ns10:Director12023-03-31078804411ns10:Director12022-03-31078804411ns10:Director12023-04-012024-09-30078804411ns10:Director12022-04-012023-03-31078804411ns10:Director12024-09-30078804411ns10:Director12023-03-31
REGISTERED NUMBER: 07880441 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

FOR

CLOUDSIDE ASSOCIATES LIMITED

CLOUDSIDE ASSOCIATES LIMITED (REGISTERED NUMBER: 07880441)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

CLOUDSIDE ASSOCIATES LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024







DIRECTOR: J M Whitehead





REGISTERED OFFICE: Kingsland House
39 Abbey Foregate
Shrewsbury
Shropshire
SY2 6BL





REGISTERED NUMBER: 07880441 (England and Wales)





ACCOUNTANTS: D.R.E. & Co. Limited
Chartered Accountants
Kingsland House
39 Abbey Foregate
Shrewsbury
Shropshire
SY2 6BL

CLOUDSIDE ASSOCIATES LIMITED (REGISTERED NUMBER: 07880441)

BALANCE SHEET
30 SEPTEMBER 2024

30.9.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,936 699
Investment property 6 2,400,000 1,635,763
2,401,936 1,636,462

CURRENT ASSETS
Debtors 7 1,066,160 927,160
Cash at bank 12,339 279,357
1,078,499 1,206,517
CREDITORS
Amounts falling due within one year 8 1,084,498 1,279,059
NET CURRENT LIABILITIES (5,999 ) (72,542 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,395,937

1,563,920

CREDITORS
Amounts falling due after more than one
year

9

(1,634,966

)

(1,549,546

)

PROVISIONS FOR LIABILITIES (190,533 ) (175 )
NET ASSETS 570,438 14,199

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 11 570,338 14,099
570,438 14,199

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

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

CLOUDSIDE ASSOCIATES LIMITED (REGISTERED NUMBER: 07880441)

BALANCE SHEET - continued
30 SEPTEMBER 2024


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 director and authorised for issue on 24 January 2025 and were signed by:





J M Whitehead - Director


CLOUDSIDE ASSOCIATES LIMITED (REGISTERED NUMBER: 07880441)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Cloudside Associates Limited 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

These financial statements are for the individual entity only.

The financial statements are presented in Sterling (£), rounded to the nearest £1.

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
Tangible fixed assets are stated at historic cost less accumulated depreciation. Cost includes the original
purchase price, costs attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life or, if held under a finance lease, over the lease term, whichever is the shorter:

Computer equipment - 33% straight line

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade receivables and cash and bank balances, are initially recognised at
transaction price and subsequently carried at amortised cost with an assessment for objective evidence of
impairment. Any impairment is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards or control of the ownership of the asset are transferred to another party.

(ii) Financial liabilities

Basic financial liabilities, including trade payables and amounts owed to other group undertakings, are initially
recognised at transaction price and subsequently carried at amortised cost.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.


CLOUDSIDE ASSOCIATES LIMITED (REGISTERED NUMBER: 07880441)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period 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 period 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2023 - 2 ) .

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023 1,449
Additions 2,494
At 30 September 2024 3,943
DEPRECIATION
At 1 April 2023 750
Charge for period 1,257
At 30 September 2024 2,007
NET BOOK VALUE
At 30 September 2024 1,936
At 31 March 2023 699

CLOUDSIDE ASSOCIATES LIMITED (REGISTERED NUMBER: 07880441)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,635,763
Additions 4,043
Revaluations 760,194
At 30 September 2024 2,400,000
NET BOOK VALUE
At 30 September 2024 2,400,000
At 31 March 2023 1,635,763

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2024 760,194
Cost 1,639,806
2,400,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 31.3.23
£    £   
Other debtors 129,229 129,229
Directors' current accounts 936,931 797,931
1,066,160 927,160

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 31.3.23
£    £   
Bank loans and overdrafts 109,304 15,270
Trade creditors 10,000 310,000
Amounts owed to related parties 613,663 614,425
Tax 218,480 219,588
Social security and other taxes - 1,887
VAT 35,323 20,257
Accrued expenses 97,728 97,632
1,084,498 1,279,059

CLOUDSIDE ASSOCIATES LIMITED (REGISTERED NUMBER: 07880441)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 31.3.23
£    £   
Bank loans - 1-2 years 64,838 9,000
Mortgage - 1-2 years 42,966 6,270
Bank loans - 2-5 years 89,898 11,910
Mortgage - 2-5 years 128,898 18,810
Mortgage - over 5 years 1,308,366 1,503,556
1,634,966 1,549,546

Amounts falling due in more than five years:

Repayable by instalments
Mortgage - over 5 years 1,308,366 1,503,556

10. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 31.3.23
£    £   
Mortgage 1,523,196 1,534,906
Bank loan 204,574 -
1,727,770 1,534,906

HSBC UK Bank PLC hold a fixed charge over investment property and a fixed and floating charge over all other assets.

11. RESERVES
Retained
earnings
£   

At 1 April 2023 14,099
Profit for the period 888,189
Dividends (331,950 )
At 30 September 2024 570,338

Included within retained earnings is £570,145 (2023: £nil) of non-distributable reserves.

CLOUDSIDE ASSOCIATES LIMITED (REGISTERED NUMBER: 07880441)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 30 September 2024 and the year ended 31 March 2023:

30.9.24 31.3.23
£    £   
J M Whitehead
Balance outstanding at start of period 797,931 535,160
Amounts advanced 477,693 662,742
Amounts repaid (340,423 ) (399,971 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 935,201 797,931

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
CLOUDSIDE ASSOCIATES LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cloudside Associates Limited for the period ended 30 September 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Cloudside Associates Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Cloudside Associates Limited and state those matters that we have agreed to state to the director of Cloudside Associates Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cloudside Associates Limited and its director for our work or for this report.

It is your duty to ensure that Cloudside Associates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Cloudside Associates Limited. You consider that Cloudside Associates Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Cloudside Associates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






D.R.E. & Co. Limited
Chartered Accountants
Kingsland House
39 Abbey Foregate
Shrewsbury
Shropshire
SY2 6BL


24 January 2025