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Registered number: 10684079









DOO CLEARING LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
DOO CLEARING LIMITED
REGISTERED NUMBER: 10684079

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,816
4,769

  
3,816
4,769

Current assets
  

Debtors: amounts falling due within one year
 5 
834,861
1,634,333

Cash at bank and in hand
 6 
884,728
809,138

  
1,719,589
2,443,471

Creditors: amounts falling due within one year
 7 
(864,797)
(1,632,547)

Net current assets
  
 
 
854,792
 
 
810,924

Total assets less current liabilities
  
858,608
815,693

  

Net assets
  
858,608
815,693


Capital and reserves
  

Called up share capital 
  
1,950,001
1,700,001

Profit and loss account
  
(1,091,393)
(884,308)

  
858,608
815,693


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 20 March 2025.



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 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


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 1 January 2024
1,700,001
(884,308)
815,693


Comprehensive income for the year

Loss for the year
-
(207,085)
(207,085)
Total comprehensive income for the year
-
(207,085)
(207,085)


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 2024
1,950,001
(1,091,393)
858,608


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 2024

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 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

After making enquires, which included obtaining signed letter of support from the parent company, 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 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:

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 2024

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 debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 debtors 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 2024

2.Accounting policies (continued)


2.12
Financial instruments (continued)


Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

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 instrument is 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 creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments 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 creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors 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.

Page 6

 
DOO CLEARING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Employees

2024
2023
£
£

Wages and salaries
322,191
345,406

Social security costs
33,933
36,070

Cost of defined contribution scheme
1,175
1,495

357,299
382,971


The average monthly number of employees, including directors, during the year was 4 (2023 - 4).


4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 January 2024
8,357



At 31 December 2024

8,357



Depreciation


At 1 January 2024
3,588


Charge for the year on owned assets
953



At 31 December 2024

4,541



Net book value



At 31 December 2024
3,816



At 31 December 2023
4,769





 

Page 7

 
DOO CLEARING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
-
90,422

Other debtors
816,768
1,521,760

Prepayments and accrued income
18,093
22,151

834,861
1,634,333


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 2024 this amounted to £812,214 (2023: £1,521,760) 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.


6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
884,728
809,138

884,728
809,138



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other taxation and social security
12,515
11,475

Other creditors
823,778
1,601,572

Accruals and deferred income
28,504
19,500

864,797
1,632,547


Included in other creditors is £812,214 (2023: £1,521,760) client account balances held with Liquidity Providrs (LPs).as explained in note 5. Included in other creditors are amounts due to related companies amounting to £3,369 (2023: £900) as explained in note 11. Included in other creditors are £8,195 client account balances held by the company in segregrated client bank accounts and this same amount in within the bank balances of the company as at 31 December 2024.

 

Page 8

 
DOO CLEARING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,950,001 (2023 - 1,700,001) Ordinary shares of £1.00 each
1,950,001
1,700,001


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


9.


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 £1,175 (2023 - £1,495).


10.


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 2024 the company owed its parent company and fellow group companies £3,369  (2023: £900). These amounts are included in other creditors and repayable on demand.
During the year the company paid £12,000 fees to a director. During the year the company provided consultancy services to its parent company amounting to £289,150.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 20 March 2025 by Pers Aswani (Senior statutory auditor) on behalf of Pers & Co London LLP.

 
Page 9