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CloudRx Holdings Limited

Registered number: 14537939
Information for filing with the Registrar
For the year ended 30 November 2024

 
 14537939
30 November 2024
CLOUDRX HOLDINGS LIMITED
REGISTERED NUMBER: 14537939

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 5 
4,034,304
4,034,304

  
4,034,304
4,034,304

Current assets
  

Debtors: amounts falling due within one year
 6 
1
1

Cash at bank and in hand
 7 
4,468
685

  
4,469
686

Creditors: amounts falling due within one year
 8 
(2,399,993)
(2,277,522)

Net current liabilities
  
 
 
(2,395,524)
 
 
(2,276,836)

Total assets less current liabilities
  
1,638,780
1,757,468

Creditors: amounts falling due after more than one year
 9 
(1,638,779)
(2,063,154)

  

Net assets/(liabilities)
  
1
(305,686)


Capital and reserves
  

Called up share capital 
 11 
1
1

Profit and loss account
 12 
-
(305,687)

  
1
(305,686)


- 1 -

 
 14537939
30 November 2024
CLOUDRX HOLDINGS LIMITED
REGISTERED NUMBER: 14537939
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 August 2025.




D M Lee
Director

The notes on pages 3 to 7 form part of these financial statements.

- 2 -

 
 14537939
30 November 2024
CLOUDRX HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

CloudRx Holdings Limited ("the Company") is a private company, limited by shares, and registered in England and Wales register number 14537939. The registered office is 1 Hawthorn Park, Coal Road, Leeds, England, LS14 1PQ. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

These financial statements have been prepared on a going concern basis. The directors, having considered the financial position of the Company for a period of at least twelve months from the date of signing these financial statements, have considered the use of the going concern basis of accounting to be appropriate.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

- 3 -

 
 14537939
30 November 2024
CLOUDRX HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In applying the Company's accounting policies, the directors are required to make judgments, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgments, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgments, estimates and assumptions the actual results and outcomes may differ.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Critical judgments in applying the Company's accounting policies
The critical judgments that the directors have made in the process of applying the Company's accounting policies that have the most significant effect on the amounts recognised in the statutory financial statements are discussed below.
(i) Assessing indicators of impairment
In assessing whether there have been any indicators of impairment of investments, the directors have considered both external and internal sources of information such as market conditions, counterparty credit ratings and experience of recoverability. There have been no indicators of impairments identified during the current financial year.


4.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

- 4 -

 
 14537939
30 November 2024
CLOUDRX HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost and net book value


At 1 December 2023
4,034,304



At 30 November 2024
4,034,304





6.


Debtors

2024
2023
£
£


Other debtors
1
1



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
4,468
685



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
497,723
497,723

Amounts owed to group undertakings
1,902,270
1,779,799

2,399,993
2,277,522


Banks loans are secured by fixed and floating charges over the assets held by the Company.
Amounts owed to group undertakings are unsecured, interest free, and repayble on demand.

- 5 -

 
 14537939
30 November 2024
CLOUDRX HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
1,638,779
2,063,154


Bank loans are secured by fixed and floating charges over the assets held by the Company.


10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
497,723
497,723

Amounts falling due 1-2 years

Bank loans
1,638,779
497,723

Amounts falling due 2-5 years

Bank loans
-
1,565,431


2,136,502
2,560,877



11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1



12.


Reserves

Profit and loss account

This reserve represents cumulative profits and losses less any dividends declared.

- 6 -

 
 14537939
30 November 2024
CLOUDRX HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

13.


Related party transactions

The Company has taken advantage of the exemption conferred by FRS102 paragraph 33.1A and has not disclosed transactions and outstanding balances with its fellow subsidiary undertakings on the basis that the relevant companies are directly or indirectly wholly owned by CloudRx Holdings Limited.


14.


Controlling party

The immediate and ultimate controlling party is D M Lee. 

 
- 7 -