Registration number: 01536810

Cloud Electronics Limited

(Registration number: 01536810)

Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	3	710,781	737,214
Current assets
Stocks		1,933,253	2,193,641
Debtors	4	4,839,043	4,354,065
Cash at bank and in hand		1,543,504	1,193,646
		8,315,800	7,741,352
Creditors: Amounts falling due within one year	5	(376,377)	(377,538)
Net current assets		7,939,423	7,363,814
Total assets less current liabilities		8,650,204	8,101,028
Provisions for liabilities		(49,000)	(52,500)
Net assets		8,601,204	8,048,528
Capital and reserves
Called up share capital		100	100
Retained earnings		8,601,104	8,048,428
Shareholders' funds		8,601,204	8,048,528

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Statement of Comprehensive Income has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 17 September 2025 and signed on its behalf by:
 

.........................................

S R Curtis

Company secretary and director

Cloud Electronics Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1	Accounting policies

Statutory information

Cloud Electronics Limited is a private company, limited by shares, domiciled in England and Wales, company number 01536810. The registered office is at 140 Staniforth Road, Darnall, Sheffield, S9 3HF.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. There has been no material departure from this standard.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling. The financial statements are those of the company as an individual entity.

Going concern

After due consideration of all relevant factors, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. Turnover is recognised when goods and services are provided to clients.

Foreign currency transactions and balances

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cloud Electronics Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

1	Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, less their estimated residual values, over their estimated useful lives as follows:

Asset class	Depreciation method and rate
Land and buildings	2% straight line
Fixtures, fittings and equipment	15% reducing balance
Motor vehicles	25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Cloud Electronics Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

1	Accounting policies (continued)

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charges as interest expense in the statement of comprehensive income.

2	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 23 (2023 - 22).

3	Tangible assets

	Land and buildings £	Fixtures and fittings £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	692,889	315,660	16,495	1,025,044
Additions	-	8,439	-	8,439
Disposals	-	(1,249)	-	(1,249)
At 31 December 2024	692,889	322,850	16,495	1,032,234
Depreciation
At 1 January 2024	82,775	193,779	11,276	287,830
Charge for the year	13,742	19,464	1,305	34,511
Eliminated on disposal	-	(888)	-	(888)
At 31 December 2024	96,517	212,355	12,581	321,453
Carrying amount
At 31 December 2024	596,372	110,495	3,914	710,781
At 31 December 2023	610,114	121,881	5,219	737,214

Included within the net book value of land and buildings above is £596,372 (2023 - £610,114) in respect of long leasehold land and buildings. This class has a historical cost of £1,060,205 (2023: £1,060,205).
 

Cloud Electronics Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

4

Debtors

	Note	2024 £	2023 £
Trade debtors		640,055	608,786
Amounts owed by related parties	7	3,517,909	3,441,979
Prepayments		261,079	284,588
Other debtors		420,000	18,712
		4,839,043	4,354,065

5

Creditors

	2024 £	2023 £
Due within one year
Trade creditors	111,821	142,019
Taxation and social security	239,433	217,509
Accruals and deferred income	13,847	18,010
Other creditors	11,276	-
	376,377	377,538