Company Registration No. 06795704 (England and Wales)
CLOUDFIND LTD.
Unaudited accounts
for the period from 1 October 2025 to 31 March 2026
CLOUDFIND LTD.
Unaudited accounts
Contents
CLOUDFIND LTD.
Company Information
for the period from 1 October 2025 to 31 March 2026
Directors
Thomas James Bourne
Matthew Philip Byrne
Richard Spilsbury
Mark Gary Walters
Company Number
06795704 (England and Wales)
Registered Office
CAMBRIDGE HOUSE
HENRY STREET
BATH
BA1 1JS
ENGLAND
Accountants
Link Stone Advisory Limited
28 Brock Street
Bath
BA1 2LN
CLOUDFIND LTD.
Statement of financial position
as at 31 March 2026
Tangible assets
2,395
5,373
Cash at bank and in hand
50,593
79,014
Creditors: amounts falling due within one year
(234,848)
(252,239)
Net current (liabilities)/assets
(55,173)
64,673
Total assets less current liabilities
(52,778)
70,046
Creditors: amounts falling due after more than one year
(225,047)
(206,603)
Net liabilities
(277,825)
(136,557)
Called up share capital
657,315
657,315
Share premium
5,161,993
5,161,993
Profit and loss account
(6,097,133)
(5,955,865)
Shareholders' funds
(277,825)
(136,557)
For the period ending 31 March 2026 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 directors acknowledge their 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 of Directors and authorised for issue on 17 April 2026 and were signed on its behalf by
Thomas James Bourne
Director
Company Registration No. 06795704
CLOUDFIND LTD.
Notes to the Accounts
for the period from 1 October 2025 to 31 March 2026
CLOUDFIND LTD. is a private company, limited by shares, registered in England and Wales, registration number 06795704. The registered office is CAMBRIDGE HOUSE, HENRY STREET, BATH, BA1 1JS, ENGLAND.
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 period, 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.
Exemption from preparing consolidated financial statements
The company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.
The financial statements have been prepared on the going concern basis which assumes that the company will continue as a going concern for the foreseeable future. The validity of this assumption depends on the company's ability to increase sales from existing customers and attract new revenue generating customers to its enhanced platform. According to the most recent forecasts the funds raised by the company enable it to continue to trade for at least the next twelve months, taking into account current trading and options for working capital management, cost management, debt funding and indications of support from shareholders. As a result, the directors believe it is appropriate to prepare the financial statements on the going concern basis.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
• the amount of revenue can be measured reliably;
• it is probable that the company will receive the consideration due under the contract;
• the stage of completion of the contract at the end of the reporting period can be measured
reliably; and
• the costs incurred and the costs to complete the contract can be measured reliably.
CLOUDFIND LTD.
Notes to the Accounts
for the period from 1 October 2025 to 31 March 2026
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Tangible fixed assets and depreciation
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
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.
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.
Fixtures & fittings
50% Straight Line
Computer equipment
50% Straight Line
Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the company keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.
Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.
CLOUDFIND LTD.
Notes to the Accounts
for the period from 1 October 2025 to 31 March 2026
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
• The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
• Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Investments in subsidiaries are measured at cost less accumulated impairment.
Research and development expenditure is written off in the year in which it is incurred.
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Intangible fixed assets
Other
The investment in the subsidiary entity is full impaired.
CLOUDFIND LTD.
Notes to the Accounts
for the period from 1 October 2025 to 31 March 2026
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 October 2025
349
26,025
26,374
At 31 March 2026
349
26,025
26,374
At 1 October 2025
349
20,652
21,001
Charge for the period
-
2,978
2,978
At 31 March 2026
349
23,630
23,979
At 31 March 2026
-
2,395
2,395
At 30 September 2025
-
5,373
5,373
Amounts falling due within one year
Trade debtors
56,094
93,377
Accrued income and prepayments
13,514
10,569
Other debtors
56,507
133,952
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Creditors: amounts falling due within one year
2026
2025
Bank loans and overdrafts
4,178
4,962
Trade creditors
67,905
27,397
Amounts owed to group undertakings and other participating interests
7,394
8,394
Taxes and social security
33,394
57,259
Other creditors
1,560
1,927
Deferred income
75,416
121,030
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Creditors: amounts falling due after more than one year
2026
2025
Other creditors
225,047
204,924
The Company issued £200,000 of 12% convertible loan notes on 18 July 2025, maturing on 18 June 2027. Interest is accruing on the principle amount of the notes and is only payable at the upon the conversion, redemption or repayment of the notes. The loan notes are convertible at the option of the holder into ordinary shares of £0.01 each at a conversion price of £0.08 per share.
CLOUDFIND LTD.
Notes to the Accounts
for the period from 1 October 2025 to 31 March 2026
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £5,161 (2025 - £9,728).
Contributions totaling £1,562 (2025 - £1,927) were payable to the fund at the balance sheet date and are included in creditors.
Included within other debtors is a loan to a former director amounting to £1,221 (2025 - £1,221). There were no movements during the year. The loan was interest free and repayable on demand.
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Transactions with related parties
Included within amounts owed to group undertakings at the yearend date is a £7,394 (2025 - £8,394) loan from Publisher Discovery Limited. The loan is interest free and repayable on demand.
Included in the financial statements are transactions and balances with directors and connected companies. Where the Board has been able to satisfy itself that these transactions were conducted on an arm’s length basis under normal market conditions they have not been disclosed, in accordance with FRS 102 Section 1A.
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Average number of employees
During the period the average number of employees was 7 (2025: 8).