Company Registration No. 08322526 (England and Wales)
Devcloud Limited
Unaudited accounts
for the year ended 31 December 2024
Devcloud Limited
Unaudited accounts
Contents
Devcloud Limited
Company Information
for the year ended 31 December 2024
Company Number
08322526 (England and Wales)
Registered Office
31 Hengrave Road
London
SE23 3NW
Accountants
Pricewise Accountants
63 St Mary Axe
City of London
London
EC3A 8AA
Devcloud Limited
Statement of financial position
as at 31 December 2024
Intangible assets
751,576
-
Tangible assets
1,663
2,483
Investment property
93,147
93,147
Cash at bank and in hand
62,050
229,864
Creditors: amounts falling due within one year
(175,185)
(86,428)
Net current (liabilities)/assets
(110,719)
187,505
Total assets less current liabilities
735,667
283,135
Creditors: amounts falling due after more than one year
(72,822)
-
Net assets
662,845
283,135
Called up share capital
10
10
Profit and loss account
662,835
283,125
Shareholders' funds
662,845
283,135
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 September 2025 and were signed on its behalf by
Mr Sebastian Bor
Director
Company Registration No. 08322526
Devcloud Limited
Notes to the Accounts
for the year ended 31 December 2024
Devcloud Limited is a private company, limited by shares, registered in England and Wales, registration number 08322526. The registered office is 31 Hengrave Road, London, SE23 3NW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
16% Reducing Balance
Fixtures & fittings
16% Reducing Balance
Computer equipment
16% Reducing Balance
Devcloud Limited
Notes to the Accounts
for the year ended 31 December 2024
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently
measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets are composed of cryptocurrencies investments held by the Company.
Intangible assets acquired on business combinations are recognised separately from goodwill at the
acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
The intangible assets with indefinite useful lives are not amortised, but are tested for impairment annually, either individually or at the cash-generating unit level. The Company recognises its own cryptocurrencies as intangible assets with indefinite useful life as the Company determined that they do not have an expiry date nor have a foreseeable limit on the period of which they will be exchanged with a willing counterparty for cash or goods and services.
Gains or losses arising from derecognition of intangible assets are measured as the difference between
the net disposal proceeds and the carrying amount of the asset are recognised in the Profit and Loss
Account when the asset is derecognised.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, as follows:
Cryptocurrencies Indefinite (no amortisation)
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Intangible fixed assets
Other
At 31 December 2024
829,797
At 31 December 2024
78,221
At 31 December 2024
751,576
Devcloud Limited
Notes to the Accounts
for the year ended 31 December 2024
5
Tangible fixed assets
Computer equipment
At 31 December 2024
14,095
At 31 December 2024
12,432
Fair value at 1 January 2024
93,147
At 31 December 2024
93,147
Amounts falling due within one year
Amounts falling due after more than one year
Other debtors
2,416
17,290
8
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
173,254
79,544
Loans from directors
1,931
-
9
Creditors: amounts falling due after more than one year
2024
2023
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).