Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01falseNo description of principal activity3425truetruefalse 10455414 2023-01-01 2023-12-31 10455414 2022-01-01 2022-12-31 10455414 2023-12-31 10455414 2022-12-31 10455414 c:Director1 2023-01-01 2023-12-31 10455414 d:OfficeEquipment 2023-01-01 2023-12-31 10455414 d:OfficeEquipment 2023-12-31 10455414 d:OfficeEquipment 2022-12-31 10455414 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10455414 d:CurrentFinancialInstruments 2023-12-31 10455414 d:CurrentFinancialInstruments 2022-12-31 10455414 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10455414 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10455414 d:ShareCapital 2023-12-31 10455414 d:ShareCapital 2022-12-31 10455414 d:RetainedEarningsAccumulatedLosses 2023-12-31 10455414 d:RetainedEarningsAccumulatedLosses 2022-12-31 10455414 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-12-31 10455414 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-12-31 10455414 c:FRS102 2023-01-01 2023-12-31 10455414 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10455414 c:FullAccounts 2023-01-01 2023-12-31 10455414 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10455414 2 2023-01-01 2023-12-31 10455414 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 10455414 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 10455414 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 10455414










DOOR VENTURES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
DOOR VENTURES LIMITED
REGISTERED NUMBER: 10455414

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
34,792
14,125

  
34,792
14,125

Current assets
  

Debtors: amounts falling due within one year
 5 
27,890
35,148

Cash at bank and in hand
 6 
33,257
22,696

  
61,147
57,844

Creditors: amounts falling due within one year
 7 
(92,475)
(11,821)

Net current (liabilities)/assets
  
 
 
(31,328)
 
 
46,023

Total assets less current liabilities
  
3,464
60,148

Provisions for liabilities
  

Deferred tax
 9 
(3,532)
(3,532)

  
 
 
(3,532)
 
 
(3,532)

Net (liabilities)/assets
  
(68)
56,616


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(168)
56,516

  
(68)
56,616


Page 1

 
DOOR VENTURES LIMITED
REGISTERED NUMBER: 10455414
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 year 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 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 12 September 2024.




R. E. Sanders
Director

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

Page 2

 
DOOR VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England and Wales (no. 09404270). The address of the registered office is Second Floor, 8 Devonshire Square, London, England, EC2M 4PL.
These financial statements present information about the company as an individual undertaking. The principal activity of the company is to supply a digital interface to access up-to-date and standardised fund due diligence information.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
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.

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

 
DOOR VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

 
2.4

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

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

Page 4

 
DOOR VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income, 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 balance sheet 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 Balance sheet 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 balance sheet date.

 
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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Page 5

 
DOOR VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

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:

Office equipment
-
25%
Straight Line

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

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.

 
2.10

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.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 34 (2022 - 25).

Page 6

 
DOOR VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 January 2023
37,000


Additions
32,201



At 31 December 2023

69,201



Depreciation


At 1 January 2023
22,875


Charge for the year on owned assets
11,534



At 31 December 2023

34,409



Net book value



At 31 December 2023
34,792



At 31 December 2022
14,125


5.


Debtors

2023
2022
£
£


Other debtors
27,890
35,148

27,890
35,148



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
33,257
22,696

33,257
22,696




Page 7

 
DOOR VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
-
11,821

Other taxation and social security
82,009
-

Other creditors
10,466
-

92,475
11,821



8.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
33,257
22,696




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

9.


Deferred taxation




2023


£






At beginning of year
(3,532)



At end of year
(3,532)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(3,532)
(3,532)

(3,532)
(3,532)

Page 8

 
DOOR VENTURES 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 £41,933 for the year to 31 December 2023 (4 months to 31 December 2022 - £7,733).


11.


Related party transactions

Included in turnover is £3,821,663 (4 months to 31 December 2022: £838,101) with from Door Ventures Inc, the parent company.


12.


Controlling party

The company is under the control of its directors.
 
Page 9