Company Information
Contents
Director's report
For the year ended 31 December 2024
The director presents his report and the consolidated financial statements of the Cloud Capital UK Advisors Limited group
('the group'), consisting of Cloud Capital UK Advisors Limited ('the company') and its subsidiary Cloud Capital LLP, for the year ended 31 December 2024.
('the group'), consisting of Cloud Capital UK Advisors Limited ('the company') and its subsidiary Cloud Capital LLP, for the year ended 31 December 2024.
The director who served during the year was:
The director is responsible for preparing the Director's report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the director is required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and the Group and to enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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Director's report (continued)
For the year ended 31 December 2024
In preparing this report, the director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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Independent auditor's report to the members of Cloud Capital UK Advisors Limited
For the year ended 31 December 2024
We have audited the financial statements of Cloud Capital UK Advisors Limited (the 'parent company') and its subsidiary (the 'Group') for the year ended 31 December 2024, which comprise the Group statement of comprehensive income, the Group and company statement of financial position, the Group statement of cash flows, the Group and company statement of changes in equity, and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
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Independent auditor's report to the members of Cloud Capital UK Advisors Limited (continued)
For the year ended 31 December 2024
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's report thereon. The director is responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Director's report has been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Director's report.
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Independent auditor's report to the members of Cloud Capital UK Advisors Limited (continued)
For the year ended 31 December 2024
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
How the audit was considered capable of detecting irregularities including fraud
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud
and non-compliance with laws and regulations, was as follows:
∙the Senior Statutory Auditor ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations, including knowledge specific to auditing groups with regulated investment advisory firms;
∙we made enquiries of management as to where they considered there was susceptibility to fraud, and their knowledge of actual and suspected and alleged fraud;
∙we identified the laws and regulations that could reasonably be expected to have a material effect on the financial statements of the group and company through discussions with the director and other management at the planning stage;
∙the audit team held a discussion to identify any particular areas that were considered to be susceptible to misstatement, including with respect to fraud and non-compliance with laws and regulations; and
∙we focused our planned audit work on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the group and company including the Companies Act 2006, employment legislation, The Financial Services and Markets Act 2000 and taxation legislation.
We assessed the extent of compliance with laws and regulations identified above through:
∙making enquiries of management;
∙reviewing legal expenditure throughout the year for any potential litigation or claims; and
∙considering the internal controls in place that are designed to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
∙identified and assessed the design effectiveness of the controls management has in place to prevent and detect fraud;
∙determined the susceptibility of the group and company to management override of controls by checking the implementation of controls and enquiring of individuals involved in the financial reporting process;
∙reviewed journal entries throughout the period to identify unusual transactions;
∙performed analytical procedures to identify any large, unusual or unexpected transactions;
∙identified and challenged assumptions and judgements made by management in its significant accounting estimates;
∙tested the occurrence of turnover by reviewing the cost plus agreement and performed a proof in total, investigating any material variances from expectations; and
∙carried out substantive testing, including random samples, to check the occurrence and cut-off of expenditure.
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Independent auditor's report to the members of Cloud Capital UK Advisors Limited (continued)
For the year ended 31 December 2024
Auditor's responsibilities for the audit of the financial statements (continued)
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included:
∙agreeing financial statement disclosures to underlying supporting documentation; and
∙enquiring of management as to actual and potential litigation and claims.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Statutory Auditor
130 Wood Street
EC2V 6DL
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Group statement of comprehensive income
For the year ended 31 December 2024
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Group and company statement of financial position
As at 31 December 2024
The financial statements were approved and authorised for issue by the board on and were signed on its behalf by:29 September 2025.
The notes on pages 13 to 23 form part of these financial statements.
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Company statement of financial position
As at 31 December 2024
The financial statements were approved and authorised for issue by the board on 29 September 2025 and were signed on its behalf by:
The notes on pages 13 to 23 form part of these financial statements.
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Group and company statement of changes in equity
For the year ended 31 December 2024
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Company statement of changes in equity
For the year ended 31 December 2024
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Group statement of cash flows
For the year ended 31 December 2024
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Notes to the financial statements
For the year ended 31 December 2024
The company is a private company limited by shares and incorporated in England and Wales. Its registered office is
Sixth Floor, Mutual House, 70 Conduit Street, London W1S 2GF. The company registration number is 12810498.
Sixth Floor, Mutual House, 70 Conduit Street, London W1S 2GF. The company registration number is 12810498.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.
The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006
and has not presented its own profit or loss in these financial statements.
The company is a qualifying entity for the purposes of FRS 102 and has elected to take the exemption under
FRS 102, para 1.12(b) not to present the Company Statement of cash flows.
The following principal accounting policies have been applied:
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.
The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006
and has not presented its own profit or loss in these financial statements.
The company is a qualifying entity for the purposes of FRS 102 and has elected to take the exemption under
FRS 102, para 1.12(b) not to present the Company Statement of cash flows.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
Functional and presentation currency
Transactions and balances
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Notes to the financial statements
For the year ended 31 December 2024
2.Accounting policies (continued)
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Notes to the financial statements
For the year ended 31 December 2024
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
notice of not more than 24 hours.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
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Notes to the financial statements
For the year ended 31 December 2024
2.Accounting policies (continued)
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments.
The whole of the turnover is attributable to the group's principal activity, the supply of investment advisory services.
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Notes to the financial statements
For the year ended 31 December 2024
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Notes to the financial statements
For the year ended 31 December 2024
8.Taxation (continued)
There were no factors that may affect future tax charges.
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Notes to the financial statements
For the year ended 31 December 2024
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Notes to the financial statements
For the year ended 31 December 2024
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Notes to the financial statements
For the year ended 31 December 2024
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Page 21
Notes to the financial statements
For the year ended 31 December 2024
Profit and loss account
The group and company had no contingent liabilities at 31 December 2024 or 31 December 2023.
The group operates a defined contributions pension scheme. The assets of the scheme are held separately from
those of the entity in an independently administered fund. The pension cost charge represents contributions
payable by the entity to the fund and amounted to £57,642 (2023: £49,260). Contributions totalling £nil (2023: £nil) were payable to the fund at the reporting date and are included in creditors.
those of the entity in an independently administered fund. The pension cost charge represents contributions
payable by the entity to the fund and amounted to £57,642 (2023: £49,260). Contributions totalling £nil (2023: £nil) were payable to the fund at the reporting date and are included in creditors.
An analysis of changes in net debt has not been presented as all of the group’s cash flows relate to movements in
cash, and the group has no items to include in such an analysis other than the cash flows in the Statement of cash
flows.
cash, and the group has no items to include in such an analysis other than the cash flows in the Statement of cash
flows.
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Notes to the financial statements
For the year ended 31 December 2024
The ultimate controlling party at the year end was Hossein Fateh. They own 100% of Cloud Capital UK Advisors
Limited.
Limited.
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