Company registration number 07743147 (England and Wales)
INVESTCLOUD TAX SOLUTIONS
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
INVESTCLOUD TAX SOLUTIONS
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
INVESTCLOUD TAX SOLUTIONS
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
-
0
1,060,678
Tangible assets
5
-
0
994
-
0
1,061,672
Current assets
Debtors
6
-
0
60,217
Cash at bank and in hand
53,102
3,445
53,102
63,662
Creditors: amounts falling due within one year
7
(127,143)
(1,003,357)
Net current liabilities
(74,041)
(939,695)
Net (liabilities)/assets
(74,041)
121,977
Capital and reserves
Called up share capital
399
399
Share premium account
10,708
10,708
Profit and loss reserves
(85,148)
110,870
Total equity
(74,041)
121,977

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

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

The financial statements were approved by the board of directors and authorised for issue on 29 July 2025 and are signed on its behalf by:
Mr S Warbritton
Director
Company registration number 07743147 (England and Wales)
INVESTCLOUD TAX SOLUTIONS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Investcloud Tax Solutions is a private company limited by shares incorporated in England and Wales. The registered office is 77 Shaftesbury Avenue, 5th Floor, London, W1D 5DU.

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 £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of InvestCloud Holdings LLC. These consolidated financial statements are available from its registered office, 700 N San Vicente Blvd Ste G605, West Hollywood, CA 90069, USA.

1.2
Going concern

At the time of approving the financial statements, the directors have to access if it can be reasonably expected that the company will have adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

The management intends to liquidate the business in the year 2026. Therefore, the financial statements have been prepared on the break-up basis.

INVESTCLOUD TAX SOLUTIONS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 40 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.4
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:

Computers
fully depreciated

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.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

INVESTCLOUD TAX SOLUTIONS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Exceptional item
2024
2023
£
£
Income
Loss on write off of share repurchase loan
930,300
-
930,300
-

The exceptional income relates to the debt due to a former employee of InvestCloud Limited (related party) and a creditor of the company that ceased to be due and payable as part of the Share Purchase Agreement due to termination of his employment.

 

 

3
Employees

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

2024
2023
Number
Number
Total
3
3
INVESTCLOUD TAX SOLUTIONS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
4
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2024 and 31 December 2024
1,157,105
Amortisation and impairment
At 1 January 2024
96,427
Impairment losses
1,060,678
At 31 December 2024
1,157,105
Carrying amount
At 31 December 2024
-
0
At 31 December 2023
1,060,678

According to FRS 102 the inventory must be tested for impairment at each reporting date. Inventory is impaired when selling price less costs to complete and sell is lower than carrying value.

 

The company has performed the goodwill impairment test and identified that carrying value is below zero and recoverable amount is zero, so the goodwill has been fully impaired.

 

5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024
5,964
Disposals
(5,964)
At 31 December 2024
-
0
Depreciation and impairment
At 1 January 2024
4,970
Eliminated in respect of disposals
(4,970)
At 31 December 2024
-
0
Carrying amount
At 31 December 2024
-
0
At 31 December 2023
994
INVESTCLOUD TAX SOLUTIONS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
41,000
Other debtors
-
0
19,217
-
0
60,217
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
0
929,401
Amounts owed to group undertakings and undertakings in which the company has a participating interest
123,143
73,936
Corporation tax
-
0
20
Other creditors
4,000
-
0
127,143
1,003,357
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

Emphasis of matter

We draw attention to note 10 to the financial statements which indicates the directors consider the company is not a going concern on the basis that it intends to liquidate the company and transfer its assets and liabilities to another company within the group to which it is a subsidiary. Accordingly the financial statements have been prepared on a basis other than going concern as described in note 10. Our opinion is not modified in this respect.

Senior Statutory Auditor:
Vincent Chandler FCA FCCA
Statutory Auditor:
Moore Green
Date of audit report:
4 August 2025
INVESTCLOUD TAX SOLUTIONS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
9
Parent company

The immediate parent company at the balance sheet date was Tegra118 Wealth Solutions Inc., a company incorporated in the United States of America (registered office: 184 Liberty Corner Rd, Warren, NJ 07059).

The ultimate parent company at the balance sheet date was InvestCloud Holdings, LLC., a company incorporated in the United States of America (registered office: 700 N San Vicente Blvd Ste G605, West Hollywood, CA 90069).

 

The directors do not consider there to be one ultimate controlling party.

10
Basis other than going concern

According to FRS 102, an entity is a going concern unless management either intends to liquidate the entity or to cease trading, or has no realistic alternative but to do so. In assessing whether the going concern assumption is appropriate, management takes into account all available information about the future, which is at least, but is not limited to, twelve months from the date when the financial statements are authorised for issue.

 

The management intends to liquidate the business in the year 2026. Therefore, the financial statements have been prepared on the break-up basis.

2024-12-312024-01-01falsefalsefalse04 August 2025CCH SoftwareCCH Accounts Production 2025.200No description of principal activityC CirianiMr Paul StrudleyMr Sean WarbrittonD Miezyte-MoraisMs R Kirby077431472024-01-012024-12-31077431472024-12-31077431472023-12-3107743147core:NetGoodwill2024-12-3107743147core:NetGoodwill2023-12-3107743147core:OtherPropertyPlantEquipment2024-12-3107743147core:OtherPropertyPlantEquipment2023-12-3107743147core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-3107743147core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3107743147core:ShareCapital2024-12-3107743147core:ShareCapital2023-12-3107743147core:SharePremium2024-12-3107743147core:SharePremium2023-12-3107743147core:RetainedEarningsAccumulatedLosses2024-12-3107743147core:RetainedEarningsAccumulatedLosses2023-12-3107743147bus:Director32024-01-012024-12-3107743147core:Goodwill2024-01-012024-12-3107743147core:ComputerEquipment2024-01-012024-12-31077431472023-01-012023-12-3107743147core:NetGoodwill2023-12-3107743147core:NetGoodwill2024-01-012024-12-3107743147core:OtherPropertyPlantEquipment2023-12-3107743147core:OtherPropertyPlantEquipment2024-01-012024-12-3107743147core:CurrentFinancialInstruments2024-12-3107743147core:CurrentFinancialInstruments2023-12-3107743147core:WithinOneYear2024-12-3107743147core:WithinOneYear2023-12-3107743147bus:PrivateLimitedCompanyLtd2024-01-012024-12-3107743147bus:FRS1022024-01-012024-12-3107743147bus:Audited2024-01-012024-12-3107743147bus:Director12024-01-012024-12-3107743147bus:Director22024-01-012024-12-3107743147bus:Director42024-01-012024-12-3107743147bus:Director52024-01-012024-12-3107743147bus:SmallCompaniesRegimeForAccounts2024-01-012024-12-3107743147bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP