The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

Cloud Made Limited is a private company limited by shares incorporated in England and Wales. The registered office is 82 St John Street, London, EC1M 4JN.

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 accounts have been prepared on a going concern basis despite net liabilities of £468,686 (2023: £14,148,356) on the basis that the directors andtrue one of the largest shareholders of Cloud Made Holdings Limited, have agreed and confirmed to support the company for the foreseeable future. As at the balance sheet date, a total of £Nil (2023: £6,336,729) is owed to the shareholders of Cloud Made Holdings Limited, which owns 100% of Cloud Made Limited.

Turnover derives from the principal activity of the company and is represented by invoiced sales excluding value added tax. Turnover is attributable to the one principal activity of the company which arose wholly in the United Kingdom.

Turnover from rendering of services is recognised when services are rendered, no matter when cash is received. Income is therefore only recognised in the period to which it relates.

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in the profit or loss account.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 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, 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.

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, including creditors, 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.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

The tax expense represents the sum of the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Consolidation

The company has taken advantage of 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 as small group. The financial statements present information about the company as an individual entity and not about its group.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The average number of employees (including directors) employed by the company during the year was:

Cloud Made Deutschland GmbH and Cloud Made Poland Sp. z o.o., both subsidiaries of the company, were dissolved on 1 January 2025 and 25 February 2025 respectively.

Cloud Made Limited owns 100% of the share capital of Cloud Made Inc; Cloud Made Deutschland GmbH, CloudMade Co, Ltd (Japan) and CloudMade Poland SP Z.O.O. (Poland). Cloud Made Limited further owns 99% of the share capital of Cloud Made Ukraine LLC.

Included in other debtors

Cloud Made Inc.

During the year, the company received an amount of £253,907 (2023: £5,176,735) from Cloud Made Inc. The company has made exchange rate provisions of £185,428 in 2024. During the year, a balance of £11,918,621 was written off for CloudMade Inc. The amount due from CloudMade Inc. as at 31 December 2024 was £Nil (2023: £12,001,280).

Cloud Made Ukraine LLC

During the year, Cloud Made Ukraine LLC paid expenses totaling £44,446 (2023: £2,127,663) on behalf of the company. The company paid an amount of £44,446 (2023: £2,127,663) to Cloud Made Ukraine LLC. The company has made exchange rate provisions of £53,958 in 2024. During the year, a balance of £3,567,432 was written off for CloudMade Ukraine LLC. The amount due from CloudMade Ukraine LLC as at 31 December 2024 was £Nil (2023: £3,469,029).

Cloud Made Deutschland GmbH

The company received an amount of £36,128 (2023: £266,263) from Cloud Made Deutschland GmbH during the year. During the year, the company received interest income of £4,967 (2023: £5,380) from Cloud Made Deutchland GmbH. The company has made exchange rate provisions of £51,000 in 2024. During the year, a balance of £998,325 was written off for Cloud Made Deutchland GmbH. The amount due from Cloud Made Deutchland GmbH as at 31 December 2024 was £Nil (2023: £966,138).

CloudMade Poland SP Z.O.O. (Poland)

During the year, the company received an amount of £19,244 (2023: £245,191 advanced) from CloudMade Poland SP Z.O.O. (Poland). During the year, the company received interest income of £455 (2023: £527) from CloudMade Poland SP Z.O.O. (Poland). During the year, a balance of £258,146 was written off for CloudMade Poland SP Z.O.O. (Poland). The amount due from CloudMade Poland SP Z.O.O. (Poland) as at 31 December 2024 was £Nil (2023: £276,935).

Included in other creditors

Cloud Made Holdings Limited

Cloud Made Holdings Limited owns 100% of the ordinary shares of Cloud Made Limited.

During the year, Cloud Made Limited paid expenses on behalf of Cloud Made Holdings Limited of £5,433 (2023: £3,575). Cloud Made Limited received loan of £2,899,030 (2023: £Nil) from Cloud Made Holdings Limited. During the year, a balance of £30,411,677 was written off for Cloud Made Holdings Limited. The amount due to Cloud Made Holdings Limited as at 31 December 2024 was £Nil (2023: £27,518,080).

Star Global Consulting Inc

Other Creditors include a balance of £Nil (2023: £6,336,729) owed to Star Global Consulting Inc, which owns 100% of the shares in Cloud Made Holdings Limited. Mr Juha Christensen is the ultimate controlling party of Star Global Consulting Inc.

Valeo S.E

Other Creditors include a balance of £Nil (2023: £280,459) owed to Valeo S.E. Loans to Cloud Made Limited. Valeo S.E is the ultimate controlling party of Valeo (UK) Limited, which owns 57.95% of the shares in Cloud Made Holdings Limited.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.