Registered number
10886265
The Pattern Cloud Group Ltd
Filleted Accounts
31 July 2024
The Pattern Cloud Group Ltd
Registered number: 10886265
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 157,455 186,639
Tangible assets 4 435 580
157,890 187,219
Current assets
Debtors 5 445,081 29,663
Cash at bank and in hand 25,499 23,293
470,580 52,956
Creditors: amounts falling due within one year 6 (130,057) (47,229)
Net current assets 340,523 5,727
Total assets less current liabilities 498,413 192,946
Creditors: amounts falling due after more than one year 7 (345,566) (28,681)
Net assets 152,847 164,265
Capital and reserves
Called up share capital 120 3
Profit and loss account 152,727 164,262
Shareholders' funds 152,847 164,265
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Alexis de Vienne
Director
Approved by the board on 17 April 2025
The Pattern Cloud Group Ltd
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2023 404,808
Additions 54,590
At 31 July 2024 459,398
Amortisation
At 1 August 2023 218,169
Provided during the year 83,774
At 31 July 2024 301,943
Net book value
At 31 July 2024 157,455
At 31 July 2023 186,639
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2023 725
At 31 July 2024 725
Depreciation
At 1 August 2023 145
Charge for the year 145
At 31 July 2024 290
Net book value
At 31 July 2024 435
At 31 July 2023 580
5 Debtors 2024 2023
£ £
Trade debtors 25,081 17,740
Amounts owed by group undertakings and undertakings in which the company has a participating interest 420,000 -
Other debtors - 11,923
445,081 29,663
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 54,015 -
Trade creditors 15,137 1,666
Taxation and social security costs 42,254 29,598
Other creditors 18,651 15,965
130,057 47,229
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 345,566 6,434
Director's loan account - 747
Other creditors - 21,500
345,566 28,681
8 Related party transactions
At the year end Saturn IS Limited owed £400,000 to the company. Saturn IS Limited is a company connected by virtue of common ownership being the owner of 75% of the share capital of the company. No interest is charged on that loan. At the year end Greenhills Road Limited owed £20,000 to the company. Greenhills Road Limited is a is a company connected by virtue of common ownership being the owner of 50% of the share capital of Saturn IS Limited. No interest is charged on that loan.
9 Other information
The Pattern Cloud Group Ltd is a private company limited by shares and incorporated in England. Its registered office is:
20-22 Wenlock Road
London
N1 7GU
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