Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-03-22false1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13993848 2022-03-21 13993848 2022-03-22 2023-03-31 13993848 2021-04-01 2022-03-21 13993848 2023-03-31 13993848 c:Director1 2022-03-22 2023-03-31 13993848 d:FurnitureFittings 2022-03-22 2023-03-31 13993848 d:FurnitureFittings 2023-03-31 13993848 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-03-22 2023-03-31 13993848 d:ComputerEquipment 2022-03-22 2023-03-31 13993848 d:ComputerEquipment 2023-03-31 13993848 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-03-22 2023-03-31 13993848 d:OwnedOrFreeholdAssets 2022-03-22 2023-03-31 13993848 d:CurrentFinancialInstruments 2023-03-31 13993848 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13993848 d:ShareCapital 2022-03-22 2023-03-31 13993848 d:ShareCapital 2023-03-31 13993848 d:RetainedEarningsAccumulatedLosses 2022-03-22 2023-03-31 13993848 d:RetainedEarningsAccumulatedLosses 2023-03-31 13993848 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 13993848 c:OrdinaryShareClass1 2022-03-22 2023-03-31 13993848 c:OrdinaryShareClass1 2023-03-31 13993848 c:FRS102 2022-03-22 2023-03-31 13993848 c:AuditExempt-NoAccountantsReport 2022-03-22 2023-03-31 13993848 c:FullAccounts 2022-03-22 2023-03-31 13993848 c:PrivateLimitedCompanyLtd 2022-03-22 2023-03-31 13993848 d:WithinOneYear 2023-03-31 13993848 d:BetweenOneFiveYears 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13993848









DARA ADVISORY (UK) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2023

 
DARA ADVISORY (UK) LIMITED
REGISTERED NUMBER:13993848

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
Note
£

Fixed assets
  

Tangible assets
 4 
28,785

  
28,785

Current assets
  

Debtors: amounts falling due within one year
 5 
12,828

Cash at bank and in hand
  
63,416

  
76,244

Creditors: amounts falling due within one year
 6 
(58,876)

Net current assets
  
 
 
17,368

Provisions for liabilities
  

Deferred tax
  
(1,196)

  
 
 
(1,196)

Net assets
  
44,957


Capital and reserves
  

Called up share capital 
 8 
100

Profit and loss account
  
44,857

  
44,957


Page 1

 
DARA ADVISORY (UK) LIMITED
REGISTERED NUMBER:13993848
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A W Haram
Director

Date: 7 February 2024

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 
DARA ADVISORY (UK) LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


Comprehensive income for the period

Profit for the period

-
44,857
44,857

Shares issued during the period
100
-
100


At 31 March 2023
100
44,857
44,957

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
DARA ADVISORY (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.


General information

Dara Advisory (UK) Limited is a private company, limited by shares, incorporated in England and Wales. The address of the registered office is 6th Floor 50 Hans Crescent, London, United Kingdom, SW1X 0NA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

These financial statements have been prepared in accordance with Section 1A of Financial
Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of
Ireland” and the Companies Act 2006.

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.3

Revenue

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 investment advisory 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.

Page 4

 
DARA ADVISORY (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Pensions

Defined contribution pension plan

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. 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 reporting 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 reporting 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 reporting date.

Page 5

 
DARA ADVISORY (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

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.

Works of art included in fixtures and fittings are not being depreciated in the financial statements.  In the opinion of the directors, the useful economic life of these assets is so long that any depreciation charge would be insignificant.  Regular impairment reviews are carried out on these assets and should any impairment in value occur, full provision will be made in the financial statements.

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.

Depreciation is provided on the following basis:

Computer equipment
-
33%

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.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

Page 6

 
DARA ADVISORY (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities  like trade and other debtors and creditors, loans frombanks and other third parties, loans to related parties and investments in ordinary shares


3.


Employees

The average monthly number of employees, including the director, during the period was 2.



4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


Additions
24,000
4,997
28,997



At 31 March 2023

24,000
4,997
28,997



Depreciation


Charge for the period on owned assets
-
212
212



At 31 March 2023

-
212
212



Net book value



At 31 March 2023
24,000
4,785
28,785


5.


Debtors

2023
£


Trade debtors
4,540

Other debtors
8,288

12,828


Page 7

 
DARA ADVISORY (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

6.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
7,428

Amounts owed to group undertakings
33,511

Corporation tax
10,112

Accruals
7,825

58,876


Amounts owed to group undertakings include a loan from the parent undertaking. The loan is interest free and repayable on demand.


7.


Deferred taxation



2023


£






Charged to profit or loss
(1,196)



At end of year
(1,196)

The deferred taxation balance is made up as follows:

2023
£


Accelerated capital allowances
(1,196)


8.


Share capital

2023
£
Allotted, called up and fully paid


100 Ordinary shares shares of £1 each
100


The company issued 100 shares of £1 each on incorporation for consideration of £100.

Page 8

 
DARA ADVISORY (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

9.


Commitments under operating leases

At 31 March 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
£


Not later than 1 year
62,800

Later than 1 year and not later than 5 years
251,200

314,000


10.


Controlling party

The parent undertaking is Dara Holdings (Cyprus) Limited, a company registered in Cyprus.  The ultimate parent is Dara Holdings Limited incorporated in Guernsey.

 
Page 9