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Doorfeed Ltd

Registered number: 13507885
Information for filing with
Registrar
For the year ended 31 December 2024

 
 13507885
31 December 2024
DOORFEED LTD
REGISTERED NUMBER: 13507885

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
22,235
6,887

Current assets
  

Debtors: amounts falling due within one year
 5 
191,483
324

Cash at bank and in hand
  
46,322
19,807

  
237,805
20,131

Creditors: amounts falling due within one year
 6 
(3,012,477)
(1,516,513)

Net current liabilities
  
 
 
(2,774,672)
 
 
(1,496,382)

Total assets less current liabilities
  
(2,752,437)
(1,489,495)

  

Net liabilities
  
(2,752,437)
(1,489,495)


Capital and reserves
  

Called up share capital 
 7 
1
1

Share-based payments reserve
 8 
27,404
-

Profit and loss account
 8 
(2,779,842)
(1,489,496)

Total equity
  
(2,752,437)
(1,489,495)


Page 1

 
 13507885
31 December 2024
DOORFEED LTD
REGISTERED NUMBER: 13507885
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

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 by: 



J Kirimy
Director
Date: 29 July 2025

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
 13507885
31 December 2024
DOORFEED LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Doorfeed Ltd (the 'Company') is a company limited by shares, incorporated in England and Wales. The Company's registered number is 13507885. The address of its registered office and principal place of business is 30c Albert Street, London, England, NW1 7NU.
The primary activity of the Company during the year was providing a platform for real estate investment opportunities.

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 financial statements have been presented in Pounds Sterling as this is the currency of the primary economic environment in which the company operates and is rounded to the nearest pound.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements are prepared on a going concern basis. The Company remains assured of the financial support by the parent company. The director has received confirmation that the parent company will continue to support the Company and provide it with adequate funds when necessary to enable it to meet its debts as they fall due for at least twelve months from the date of signing these financial statements. On this basis, the director consider it appropriate to prepare the financial statements on a going concern basis.

 
2.3

Interest receivable and similar income

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

 
2.4

Interest payable and similar expenses

Interest payable and similar expenses 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 3

 
 13507885
31 December 2024
DOORFEED LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
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 the services are rendered. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Foreign currency translation

Functional and presentation currency

The Company's functional and presentation 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.

All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'administrative expenses'.

Page 4

 
 13507885
31 December 2024
DOORFEED LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.7

Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each reporting date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.
Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

 
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.

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:

Computer equipment
-
33%
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.
Depreciation is charged to the Statement of comprehensive income within 'administrative expenses'.

 
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.

Page 5

 
 13507885
31 December 2024
DOORFEED LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
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

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.

Financial assets

Financial assets measured that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of Impairment. If objective evidence of impairment is identified, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and its recoverable amount, which is an estimate of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial liabilities

Basic financial liabilities, including trade and other payables are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a rate of interest.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payables are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transactions price and subsequently measured at amortised costs.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an 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.

Page 6

 
 13507885
31 December 2024
DOORFEED LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.13

Taxation

Tax is recognised in profit or loss 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 reporting 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 reporting 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 reporting date.


3.


Employees

The average monthly number of employees, including director, during the year was 21 (2023: 7).

Page 7

 
 13507885
31 December 2024
DOORFEED LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Computer equipment

£



Cost


At 1 January 2024
7,694


Additions
24,399


Disposals
(2,662)



At 31 December 2024

29,431



Depreciation


At 1 January 2024
807


Charge for the year
6,927


Disposals
(538)



At 31 December 2024

7,196



Net book value



At 31 December 2024
22,235



At 31 December 2023
6,887


5.


Debtors: amounts falling due within one year

2024
2023
£
£


Other debtors
189,330
-

Prepayments and accrued income
2,153
324

191,483
324


Other debtors include VAT recoverable amounting to £178,685 (2023: £nil).

Page 8

 
 13507885
31 December 2024
DOORFEED LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
6,114
1,152

Amounts owed to group undertakings
2,897,844
1,443,735

Other taxation and social security
46,450
37,854

Other creditors
2,273
946

Accruals and deferred income
59,796
32,826

3,012,477
1,516,513


Amounts owed to group undertakings are unsecured, interest free and repayable on demand.


7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023: 100) Ordinary shares of £0.01 each
1
1

The Company has one class of ordinary share; each share has attached to them full voting, dividend and capital distribution rights.



8.


Reserves

Share-based payments reserve

This reserve comprise the aggregate expenses recognised in respect of share based payments.

Profit and loss account

The profit and loss account includes all current and prior period retained profits and losses.

Page 9

 
 13507885
31 December 2024
DOORFEED LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Share-based payments

The parent company, Doorfeed SAS operates a share option plan, under which options have been granted to the Company employees during the current year.
The scheme is equity settled as defined by section 26 FRS 102.
Details of the share options outstanding are as follows, presented in Euro (€):

Weighted
average
exercise
price
(€)
2024
Number
2024

Granted during the year

203.66

2,775

Outstanding at the end of the year
203.66

2,775


The stock options vest over a period of four years and become exercisable only upon the occurrence of a Liquidity Event. The vesting schedule is as follows:

25% of the stock options vest at the end of 12 months from the Vesting Commencement Date (the “Seniority Period”); and
The remaining 75% vest in equal monthly installments (1/48th of the total grant) over the subsequent 36 months following the completion of the Seniority Period.

The share option scheme was valued using the Black-Scholes method as the fair value of the services received could not be estimated reliably. The director believes that the Black-Scholes method provides the best estimate of the fair value of the equity instruments granted.


2024
£


Share option expenses recorded in the year
27,404


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. No contributions (2023: £nil) were payable to the fund at the reporting date.


11.


Related party transactions

The Company has taken advantage of the exemption from disclosing related party transactions undertaken between wholly owned members of the group.

Page 10

 
 13507885
31 December 2024
DOORFEED LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

12.


Post balance sheet events

There have been no significant events affecting the Company since the year end.


13.


Controlling party

The immediate and ultimate parent undertaking is Doorfeed SAS, a company incorporated in France. Its registered office address is 27 Boulevard St Martin, Paris, France, 75003. The consolidated financial statements are not available to the public.

Page 11