Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-31false42023-01-01The principal activity of the company continued to be that of financial mediation.3falsetrue 10684079 2023-01-01 2023-12-31 10684079 2022-01-01 2022-12-31 10684079 2023-12-31 10684079 2022-12-31 10684079 2022-01-01 10684079 1 2023-01-01 2023-12-31 10684079 d:Director1 2023-01-01 2023-12-31 10684079 c:PlantMachinery 2023-01-01 2023-12-31 10684079 c:PlantMachinery 2023-12-31 10684079 c:PlantMachinery 2022-12-31 10684079 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10684079 c:CurrentFinancialInstruments 2023-12-31 10684079 c:CurrentFinancialInstruments 2022-12-31 10684079 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 10684079 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 10684079 c:ShareCapital 2023-01-01 2023-12-31 10684079 c:ShareCapital 2023-12-31 10684079 c:ShareCapital 2022-01-01 2022-12-31 10684079 c:ShareCapital 2022-12-31 10684079 c:ShareCapital 2022-01-01 10684079 c:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 10684079 c:RetainedEarningsAccumulatedLosses 2023-12-31 10684079 c:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 10684079 c:RetainedEarningsAccumulatedLosses 2022-12-31 10684079 c:RetainedEarningsAccumulatedLosses 2022-01-01 10684079 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-12-31 10684079 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-12-31 10684079 d:OrdinaryShareClass1 2023-01-01 2023-12-31 10684079 d:OrdinaryShareClass1 2023-12-31 10684079 d:OrdinaryShareClass1 2022-12-31 10684079 d:FRS102 2023-01-01 2023-12-31 10684079 d:Audited 2023-01-01 2023-12-31 10684079 d:FullAccounts 2023-01-01 2023-12-31 10684079 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10684079 d:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 10684079 2 2023-01-01 2023-12-31 10684079 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10684079









DOO CLEARING LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
DOO CLEARING LIMITED
REGISTERED NUMBER: 10684079

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,769
5,817

  
4,769
5,817

Current assets
  

Debtors: amounts falling due within one year
 5 
1,634,333
1,805,387

Cash at bank and in hand
 6 
809,138
1,001,138

  
2,443,471
2,806,525

Creditors: amounts falling due within one year
 7 
(1,632,547)
(1,837,377)

Net current assets
  
 
 
810,924
 
 
969,148

Total assets less current liabilities
  
815,693
974,965

  

Net assets
  
815,693
974,965


Capital and reserves
  

Called up share capital 
  
1,700,001
1,450,001

Profit and loss account
  
(884,308)
(475,036)

  
815,693
974,965


The financial statements have been prepared 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 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 statement of comprehensive income 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 on 18 April 2024.




Nadine Howard
Director

The notes on pages 3 to 9 form part of these financial statements.
Page 1

 
DOO CLEARING LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2022
1,000,001
(535,260)
464,741


Comprehensive income for the year

Profit for the year
-
60,224
60,224
Total comprehensive income for the year
-
60,224
60,224


Contributions by and distributions to owners

Shares issued during the year
450,000
-
450,000


Total transactions with owners
450,000
-
450,000



At 1 January 2023
1,450,001
(475,036)
974,965


Comprehensive income for the year

Loss for the year
-
(409,272)
(409,272)
Total comprehensive income for the year
-
(409,272)
(409,272)


Contributions by and distributions to owners

Shares issued during the year
250,000
-
250,000


Total transactions with owners
250,000
-
250,000


At 31 December 2023
1,700,001
(884,308)
815,693


The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
DOO CLEARING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Doo Clearing Limited is a private limited company limited by share capital. The company was incorporated in England and Wales and its registered office is Berkeley Suite, 35 Berkeley Square, Mayfair, London W1J 5BJ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquires, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

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.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
DOO CLEARING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

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 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.

 
2.5

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.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

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.

Page 4

 
DOO CLEARING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
18%
reducing balance

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.

 
2.9

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.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

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.

 
2.12

Financial instruments

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Page 5

 
DOO CLEARING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.12
Financial instruments (continued)

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 3).

Page 6

 
DOO CLEARING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 January 2023
8,357



At 31 December 2023

8,357



Depreciation


At 1 January 2023
2,540


Charge for the year on owned assets
1,048



At 31 December 2023

3,588



Net book value



At 31 December 2023
4,769



At 31 December 2022
5,817


5.


Debtors

2023
2022
£
£


Trade debtors
90,422
28,358

Other debtors
1,521,760
1,745,841

Prepayments and accrued income
22,151
31,188

1,634,333
1,805,387


Doo Clearing Limited is authorised by the FCA to control clients' money. The money is held by Liquidity Providers (LPs) and as at 31 December 2023 this amounted to £1,521,760 (2022: £1,745,841) in the form of margin deposits for the trading and profit and loss generated by such trades. This money is included in other debtors and other creditors.

Page 7

 
DOO CLEARING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
809,138
1,001,138

809,138
1,001,138



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
-
711

Other taxation and social security
11,475
12,877

Other creditors
1,601,572
1,811,789

Accruals and deferred income
19,500
12,000

1,632,547
1,837,377


Incuded in other creditors is £1,521,760 on account of client account balances as explained in note 5.


8.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
809,138
1,001,138




Financial assets measured at fair value through profit or loss comprise cash at bank.


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,700,001 (2022 - 1,450,001) Ordinary shares of £1.00 each
1,700,001
1,450,001


During the year the company issued 250,000 ordinary shares of £1 each at par.

Page 8

 
DOO CLEARING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Pension commitments

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 £1,495 (2022 - £129) .


11.


Related party transactions

The immediate and ultimate parent undertaking and controlling party is Doo Financial Holding Pte Ltd which prepares consolidated accounts. The registered office of Doo Financial Pte Ltd is 6A Shenton Way, #01-01 Downtown Gallery, Singapore 068815.
As at 31 December 2023 the company owed its parent company £nil (2022: £711) and £900 (2022: £nil) to other related companies which are repayable on demand.
During the year the company paid £15,000 fees to a director.


12.


Post balance sheet events

Subsequent to the year end date the company issued and allotted 100,000 ordinary £1 shares at par.


13.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 18 April 2024 by Pers Aswani (Senior statutory auditor) on behalf of Pers & Co London LLP.

Page 9