Data Cloud Limited - Limited company - abbreviated - 11.9

DATA CLOUD LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

M P Clothier

S P Corbett

C E S Green

W E Mitchell

N Childe-Harmer

J D W Pocock

REGISTERED OFFICE:

UGLI Campus

56 Wood Lane

London

W12 7SB

REGISTERED NUMBER:

07049539 (England and Wales)

ACCOUNTANTS:

Ballard Dale Syree Watson LLP

11c Kingswood Road

Hampton Lovett

Droitwich

Worcestershire

WR9 0QH

FIXED ASSETS

Investments

2

101

101

CURRENT ASSETS

Debtors

3

7,418,208

3,845,909

Cash at bank and in hand

106,059

1,536,370

7,524,267

5,382,279

CREDITORS

Amounts falling due within one year

1,282,327

945,578

NET CURRENT ASSETS

6,241,940

4,436,701

TOTAL ASSETS LESS CURRENT LIABILITIES

6,242,041

4,436,802

CAPITAL AND RESERVES

Called up share capital

4

177

159

Share premium

6,464,802

4,522,347

Profit and loss account

(222,938

)

(85,704

)

SHAREHOLDERS' FUNDS

6,242,041

4,436,802

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 18 April 2016 and were signed on its behalf by:

J D W Pocock - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The directors believe that the company will continue as a going concern having considered the

financial prospects for the company over the next 12 months including reviewing the potential for

securing sources of additional revenue.

The company's ability to continue on a going concern basis depends on the ability to support the

operations of the group companies.The Directors have drawn up group forecasts under multiple

scenarios in order to manage future cashflow. There is however, no guarantee that new revenue

sources will be secured.

The directors consider it appropriate to prepare the financial statements on a going concern basis.

The company has indicated its willingness to continue its support for it's subsidiaries going forward.

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller

Entities (effective January 2015).

Preparation of consolidated financial statements

The financial statements contain information about Data Cloud Limited as an individual company and

do not contain consolidated financial information as the parent of a group. The company has taken the

option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company

qualifies as a small company.

Deferred tax

Deferred tax is recognised on all timing differences where the transactions or events give the company

an obligation to pay more tax in the future, or a right to pay less tax in the future has occurred by the

balance sheet date. Deferred tax assets are recognised when it is more likely than not that they will be

recovered. Deferred tax is measured using rates that have been enacted or substantively enacted by

the balance sheet date.

The accumulated losses have resulted in significant tax allowable losses being built up which can be

offset against future trading profits. At present the directors are uncertain as to whether sufficient

profits will be realised against which to offset these losses and accordingly no deferred tax asset has

been recognised in the financial statements.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

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 rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

2.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 January 2015

and 31 December 2015

101

NET BOOK VALUE

At 31 December 2015

101

At 31 December 2014

101

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

Cloudhouse Technologies Limited

Nature of business: The sale of cloud enabling software

%

Class of shares:

holding

Ordinary

100.00

Data Accelerator Limited

Nature of business: The development of cloud enabling software

%

Class of shares:

holding

Ordinary

100.00

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 7,411,861 (2014 - £ 3,832,095

)

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

17,716,501

Ordinary

£0.00001

177

159