Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31truefalsetrue12023-01-01false1No description of principal activity 02838697 2023-01-01 2023-12-31 02838697 2022-01-01 2022-12-31 02838697 2023-12-31 02838697 2022-12-31 02838697 c:Director1 2023-01-01 2023-12-31 02838697 d:CurrentFinancialInstruments 2023-12-31 02838697 d:CurrentFinancialInstruments 2022-12-31 02838697 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 02838697 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 02838697 d:ShareCapital 2023-12-31 02838697 d:ShareCapital 2022-12-31 02838697 d:RetainedEarningsAccumulatedLosses 2023-12-31 02838697 d:RetainedEarningsAccumulatedLosses 2022-12-31 02838697 c:OrdinaryShareClass1 2023-01-01 2023-12-31 02838697 c:OrdinaryShareClass1 2023-12-31 02838697 c:OrdinaryShareClass1 2022-12-31 02838697 c:FRS102 2023-01-01 2023-12-31 02838697 c:Audited 2023-01-01 2023-12-31 02838697 c:FullAccounts 2023-01-01 2023-12-31 02838697 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02838697 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02838697 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02838697









DIRECTDIVIDE TRADING LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
DIRECTDIVIDE TRADING LIMITED
REGISTERED NUMBER: 02838697

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
3,879,081
3,954,020

  
3,879,081
3,954,020

Creditors: amounts falling due within one year
 5 
(1,059,116)
(1,060,360)

Net current assets
  
 
 
2,819,965
 
 
2,893,660

Total assets less current liabilities
  
2,819,965
2,893,660

  

Net assets
  
2,819,965
2,893,660


Capital and reserves
  

Called up share capital 
 6 
5
5

Profit and loss account
  
2,819,960
2,893,655

  
2,819,965
2,893,660


Page 1

 
DIRECTDIVIDE TRADING LIMITED
REGISTERED NUMBER: 02838697
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

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 1 August 2024.




L Cunningham
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
DIRECTDIVIDE TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Directdivide Trading Limited is a private company limited by shares and is incorporated in England and Wales. The address of its registered office is 4th Floor, Khiara House, 25/26 Poland Street, London, W1F 8QN. 
The financial statements are presented in Sterling, which is the functional currency of the Company.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis. The company is dependent on its parent company for financial support, which the director is confident will continue for a period of at least another 12 months following the approval of these financial statements.
As at 31 December 2023, the company had net assets. The shareholders have indicated their present intention to provide adequate finance to enable the company to continue in operational existence, and on this basis the director considers it appropriate to prepare the financial statements on the going concern basis.
The financial statements do not reflect any adjustments that would result from a withdrawal of financial support by the director and shareholders.

Page 3

 
DIRECTDIVIDE TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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'.

 
2.4

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.

 
2.5

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.

 
2.6

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 from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 4

 
DIRECTDIVIDE TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
3,879,081
3,954,020

3,879,081
3,954,020



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
1,029,882
1,031,126

Other creditors
29,234
29,234

1,059,116
1,060,360



6.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



5 (2022 - 5) Ordinary shares of £1.00 each
5
5



7.


Contingent liabilities

The company has entered into cross guarantees in respect of the bank facilities granted to its immediate parent company. May Property Holdings Limited, and its fellow subsidiaries, Submitquest Limited and Metrospa Limited.

Page 5

 
DIRECTDIVIDE TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Related party transactions

The company has taken advantage of the exemption available in FRS 102 Section 33: Related Party Transactions, whereby it is not require to disclosure transactions entered into with any wholly owned group undertakings.
At the year end, the following balances were due from/(due to) the following related companies which are not wholly owned group undertakings:


Amounts due from 2023
Amounts due to 2023
Amounts due from 2022
Amounts due to 2022
£
£
£
£

November Properties Limited
44,219
-
45,129
-
October Properties Limited
24,813
-
25,324
-
Canton Caseys Limited
10,343
-
10,556
-
December Property Holdings Limited
-
(24,813)
-
(25,324)
Trans-Line Limited
-
(30,250)
-
(30,872)
Mergot Limited
-
(5,407)
-
(5,518)
79,375
(60,470)
81,009
(61,714)


9.


Controlling party

At 31 December 2023, the ultimate parent company was Belleville Limited, a company registered in The Isle of Man. The immediate parent company is May Property Holdings Limited, a company registered in Ireland. 


10.


Auditors' information

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

The audit report was signed on 1 August 2024 by Leigh Genis (Senior Statutory Auditor) on behalf of Harris & Trotter LLP.

 
Page 6