DATA CLOUD LIMITED |
ABBREVIATED UNAUDITED ACCOUNTS |
FOR THE YEAR ENDED 31 DECEMBER 2015 |
DATA CLOUD LIMITED |
ABBREVIATED UNAUDITED ACCOUNTS |
FOR THE YEAR ENDED 31 DECEMBER 2015 |
DATA CLOUD LIMITED (REGISTERED NUMBER: 07049539) |
CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 DECEMBER 2015 |
Page |
Company Information | 1 |
Abbreviated Balance Sheet | 2 |
Notes to the Abbreviated Accounts | 3 |
DATA CLOUD LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2015 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
DATA CLOUD LIMITED (REGISTERED NUMBER: 07049539) |
ABBREVIATED BALANCE SHEET |
31 DECEMBER 2015 |
2015 | 2014 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 2 |
CURRENT ASSETS |
Debtors | 3 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 4 |
Share premium |
Profit and loss account | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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 financial statements were approved by the Board of Directors on behalf by: |
DATA CLOUD LIMITED (REGISTERED NUMBER: 07049539) |
NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 DECEMBER 2015 |
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. |
DATA CLOUD LIMITED (REGISTERED NUMBER: 07049539) |
NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2015 |
2. | FIXED ASSET INVESTMENTS |
Investments |
other |
than |
loans |
£ |
COST |
At 1 January 2015 |
and 31 December 2015 |
NET BOOK VALUE |
At 31 December 2015 |
At 31 December 2014 |
The company's investments at the Balance Sheet date in the share capital of companies include the |
following: |
Nature of business: |
% |
Class of shares: | holding |
Ordinary | 100.00 |
Nature of business: |
% |
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 £ |
) |
4. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2015 | 2014 |
value: | £ | £ |
Ordinary | £0.00001 |
The December 2014 investment round continued in early 2015, and 306,280 ordinary shares of |
£0.00001 nominal value each were allotted at a premium of 92.499p per share in the current year in |
relation to this round. |
A new investment round opened in May 2015, and 1,193,882 ordinary shares of £0.00001 nominal |
value each were alloted at a premium of 123.999p per share during this round. |
A convertible loan was converted in November 2015 to 133,622 ordinary shares of £0.00001 nominal |
value each at a premium of 47.696p per share. |
A new investment round opened in December 2015, and 187,794 ordinary shares of £0.00001 nominal |
value each were alloted at a premium of 92.499p per share. |