Cloudy Robot Limited - Period Ending 2017-10-31

Registration number: 08724793

Cloudy Robot Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2017

McManus Williams Limited
Chartered Certified Accountants
Suite 2, Bellevue Mansions
18-22 Bellevue Road
Clevedon
BS21 7NU

Cloudy Robot Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3
Notes to the Financial Statements	4 to 6

Cloudy Robot Limited

Company Information

Directors

Mr P Speariett Mrs J Speariett

Registered office

51 Highwood Drive Nailsworth Stroud, Gloucestershire Gloucestershire GL6 0BJ

Accountants

McManus Williams Limited Chartered Certified Accountants Suite 2, Bellevue Mansions 18-22 Bellevue Road Clevedon BS21 7NU

Page 1

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Cloudy Robot Limited
for the Year Ended 31 October 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Cloudy Robot Limited for the year ended 31 October 2017 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.

This report is made solely to the Board of Directors of Cloudy Robot Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Cloudy Robot Limited and state those matters that we have agreed to state to the Board of Directors of Cloudy Robot Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cloudy Robot Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Cloudy Robot Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Cloudy Robot Limited. You consider that Cloudy Robot Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Cloudy Robot Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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

McManus Williams Limited
Chartered Certified Accountants
Suite 2, Bellevue Mansions
18-22 Bellevue Road
Clevedon
BS21 7NU

29 January 2018

Page 2

Cloudy Robot Limited

(Registration number: 08724793)
Balance Sheet as at 31 October 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	3,706	5,607
Current assets
Debtors	5	8,008	5,084
Cash at bank and in hand		4,777	2,241
		12,785	7,325
Creditors: Amounts falling due within one year	6	(14,843)	(11,311)
Net current liabilities		(2,058)	(3,986)
Total assets less current liabilities		1,648	1,621
Provisions for liabilities		(704)	(1,121)
Net assets		944	500
Capital and reserves
Called up share capital		100	100
Profit and loss account		844	400
Total equity		944	500

For the financial year ending 31 October 2017 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 prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

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 Profit and Loss Account has been taken.

Approved and authorised by the Board on 29 January 2018 and signed on its behalf by:
 

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

Mr P Speariett

Director

The notes on pages 4 to 6 form an integral part of these financial statements.

Page 3

Cloudy Robot Limited

Notes to the Financial Statements for the Year Ended 31 October 2017

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
51 Highwood Drive
Nailsworth
Stroud, Gloucestershire
Gloucestershire
GL6 0BJ

These financial statements were authorised for issue by the Board on 29 January 2018.

2	Accounting policies

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.

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.

Tangible assets

Tangible assets are stated in the statement of financial position 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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	33% on cost
Furniture and fittings	25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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Cloudy Robot Limited

Notes to the Financial Statements for the Year Ended 31 October 2017

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2016 - 2).

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Cloudy Robot Limited

Notes to the Financial Statements for the Year Ended 31 October 2017

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 November 2016	13,355	13,355
Additions	1,924	1,924
At 31 October 2017	15,279	15,279
Depreciation
At 1 November 2016	7,748	7,748
Charge for the year	3,825	3,825
At 31 October 2017	11,573	11,573
Carrying amount
At 31 October 2017	3,706	3,706
At 31 October 2016	5,607	5,607

5

Debtors

	2017 £	2016 £
Trade debtors	316	-
Other debtors	7,692	5,084
Total current trade and other debtors	8,008	5,084

6

Creditors

	Note	2017 £	2016 £
Due within one year
Taxation and social security		3,918	3,591
Other creditors		10,925	7,720
		14,843	11,311

7	Transition to FRS 102

The company has adopted the accounting standards of FRS 102 and the reduced disclosure requirements of s1A, with an effective date of 1st November 2015. There are no changes in treatment or valuation required as a result of the transition, so all comparative figures remain as previously reported.

Page 6