Company registration number 08638359 (England and Wales)
CLOWDY GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
CLOWDY GROUP LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
CLOWDY GROUP LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
100
100
Current assets
Debtors
5
2,108,787
2,037,304
Creditors: amounts falling due within one year
6
(12)
(12)
Net current assets
2,108,775
2,037,292
Net assets
2,108,875
2,037,392
Capital and reserves
Called up share capital
7
455
446
Share premium account
1,758,005
1,686,531
Profit and loss reserves
350,415
350,415
Total equity
2,108,875
2,037,392
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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 10 April 2025 and are signed on its behalf by:
S A Logan
Director
Company registration number 08638359 (England and Wales)
CLOWDY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
Clowdy Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, 86-90 Paul Street, London, EC2A 4NE.
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. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has 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.
1.3
Fixed asset investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are
initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity
shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less
impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’' to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
CLOWDY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
1.5
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.
2
Employees
The average monthly number of persons employed by the company during the year was:
2024
2023
Number
Number
Total
0
0
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
100
100
4
Subsidiaries
Details of the company's subsidiaries at 31 December 2024 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Clowdy Limited
England and Wales
Ordinary
100.00
CLOWDY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
2,108,786
2,037,287
Other debtors
1
17
2,108,787
2,037,304
6
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
12
12
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 0.1p each
368,003
359,546
368
359
A Ordinary shares of 0.1p each
21,770
21,770
22
22
B Ordinary shares of 0.1p each
64,678
64,678
65
65
454,451
445,994
455
446
On 22 January 2024 361 ordinary shares of £0.001 were issued at a premium of £3,996 .
On 31 January 2024 903 ordinary shares of £0.001 were issued at a premium of £9,995.
On 14 March 2024 4064 ordinary shares of £0.001 were issued at a premium of £44,984.
On 14 May 2024 2000 ordinary shares of £0.001 were issued at a premium of £18.
On 20 December 2024 1129 ordinary shares of £0.001 were issued at a premium of £12,497.