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Registered number: 11489377









Claiser Trading Limited









Financial statements

Information for filing with the registrar

For the Year Ended 30 June 2024

 
Claiser Trading Limited
Registered number: 11489377

Statement of financial position
As at 30 June 2024

2024
2023
Note
$
$

  

Current assets
  

Debtors: amounts falling due within one year
 5 
339,382
1,197,856

Cash at bank and in hand
 6 
88,777
388,294

  
428,159
1,586,150

Creditors: amounts falling due within one year
 7 
(150,778)
(1,324,103)

Net current assets
  
 
 
277,381
 
 
262,047

Total assets less current liabilities
  
277,381
262,047

  

Net assets
  
277,381
262,047


Capital and reserves
  

Called up share capital 
  
138
138

Profit and loss account
  
277,243
261,909

  
277,381
262,047


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 11 November 2024.




Amynah Rahman
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 1

 
Claiser Trading Limited
 

Statement of changes in equity
For the Year Ended 30 June 2024


Called up share capital
Profit and loss account
Total equity

$
$
$


At 1 July 2022
138
258,409
258,547


Comprehensive income for the year

Profit for the year

-
3,500
3,500


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
3,500
3,500


Total transactions with owners
-
-
-



At 1 July 2023
138
261,909
262,047


Comprehensive income for the year

Profit for the year

-
15,334
15,334


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
15,334
15,334


Total transactions with owners
-
-
-


At 30 June 2024
138
277,243
277,381


The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
Claiser Trading Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2024

1.


General information

Claiser Trading Limited is a company, limited by shares, registered in England & Wales. The company's registered number and registered office can be found on the company information page.
The presentation currency of the financial statements is the USD, rounded to the nearest dollar.

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 (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company has undertaken an assessment of its business plans and the directors believe that the Company has sufficient resources to continue its trade for the foreseeable future and cope with future uncertainties caused by external factors i.e. pandemic, Brexit, disruption on global supply chain etc hence decided to prepare the accounts under going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is USD.

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

 
Claiser Trading Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2024

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:

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.

 
2.5

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.

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.

 
2.6

Interest income

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

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
Claiser Trading Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2024

2.Accounting policies (continued)

 
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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In preparing the financial statements, management are required to make estimates and judgments which may materially affect reported income, expenses, assets, liabilities or disclosure of contingent assets and liabilities, and the valuation of investment properties, which were based on open market transactions. The estimates and assumptions are reviewed on an on-going basis and are based on historical experience and other factors that are considered to be relevant. Revision to accounting estimates are recognised in the period in which the estimate is revised.


4.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2023 - $NIL).

The average monthly number of employees, including directors, during the year was 0 (2023 - 0).


5.


Debtors

2024
2023
$
$


Trade debtors
25,288
66,885

Amounts owed by group undertakings
117,097
-

Other debtors
196,997
1,127,341

Prepayments and accrued income
-
3,630

339,382
1,197,856


Page 5

 
Claiser Trading Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2024

6.


Cash and cash equivalents

2024
2023
$
$

Cash at bank and in hand
88,777
388,294

88,777
388,294



7.


Creditors: Amounts falling due within one year

2024
2023
$
$

Trade creditors
142,791
606,968

Amounts owed to group undertakings
-
332,428

Other creditors
2,987
379,707

Accruals and deferred income
5,000
5,000

150,778
1,324,103


The following liabilities were secured:




Details of security provided:

Bank loans and bank overdrafts are secured by fixed and floating charges against all the assets of the Company and its parent entity AJCL Global Holdings Ltd in last year. 

Page 6

 
Claiser Trading Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 June 2024

8.


Related party transactions

The Company has taken advantage of the exemption available under FRS 102, not to disclose details of any transactions or balances between the group that have been eliminated on consolidation. The ultimate parent Company prepares group accounts. Copy of group accounts are available from parent Company's registered office address at First floor, 113-A Sindhi Muslim Cooperative Housing Society, Shahrah-e-Faisal, Karachi, Pakistan. 
During the year, the Company purchased goods amounting to $35,880 (2023: $1,284,485) from a company under common control. Amount owed by the Company at year end was $35,880 (2023: $299,485) which is included in trade creditors.


9.


Controlling party

The immediate parent company is AJCL Global Holdings Ltd, a company registered in England & Wales. The ultimate parent company is AJCL (PVT) Limited a company registered in Pakistan with its registered office at First floor, 113-A Sindhi Muslim Cooperative Housing Society, Shahrah-e-Faisal, Karachi, Pakistan. The ultimate controlling party is Omer Adil Jaffer.


10.


Auditors' information

The auditors' report on the financial statements for the year ended 30 June 2024 was unqualified.

The audit report was signed on 11 November 2024 by Janak Raj Pokhrel (Senior statutory auditor) on behalf of Mantax Lynton.

 
Page 7