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REGISTERED NUMBER: 01102784 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

CODEC (UK) LTD.

CODEC (UK) LTD. (REGISTERED NUMBER: 01102784)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CODEC (UK) LTD.

COMPANY INFORMATION
for the Year Ended 31 March 2023







DIRECTORS: Mr J J Caldwell
Mrs J A Caldwell
Mr I N Caldwell
Mrs F E Mcculloch





SECRETARY: Mr J J Caldwell





REGISTERED OFFICE: 8 West Of St. Laurence
Old Warwick Road
Rowington
Warwickshire
CV35 7AB





REGISTERED NUMBER: 01102784 (England and Wales)





ACCOUNTANTS: Michael Harwood & Co
Chartered Accountants
Greville House
10 Jury Street
Warwick
Warwickshire
CV34 4EW

CODEC (UK) LTD. (REGISTERED NUMBER: 01102784)

BALANCE SHEET
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 312,235 312,794

CURRENT ASSETS
Debtors 5 7,542 6,840
Cash at bank 64,764 45,366
72,306 52,206
CREDITORS
Amounts falling due within one year 6 8,145 8,919
NET CURRENT ASSETS 64,161 43,287
TOTAL ASSETS LESS CURRENT
LIABILITIES

376,396

356,081

PROVISIONS FOR LIABILITIES 7 56,200 56,200
NET ASSETS 320,196 299,881

CAPITAL AND RESERVES
Called up share capital 8 200 200
Fair value reserve 9 260,470 260,470
Retained earnings 59,526 39,211
SHAREHOLDERS' FUNDS 320,196 299,881

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2023 and were signed on its behalf by:





Mr J J Caldwell - Director


CODEC (UK) LTD. (REGISTERED NUMBER: 01102784)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Codec (UK) Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 20% reducing balance
Furniture and fittings - 20% reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Furniture
Freehold and
property Equipment fittings Totals
£    £    £    £   
COST
At 1 April 2022
and 31 March 2023 310,000 11,194 13,592 334,786
DEPRECIATION
At 1 April 2022 - 10,370 11,622 21,992
Charge for year - 165 394 559
At 31 March 2023 - 10,535 12,016 22,551
NET BOOK VALUE
At 31 March 2023 310,000 659 1,576 312,235
At 31 March 2022 310,000 824 1,970 312,794

CODEC (UK) LTD. (REGISTERED NUMBER: 01102784)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 7,542 6,840

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 274 811
Tax 4,896 4,580
VAT 2,175 2,417
Other creditors - 231
Accrued expenses 800 880
8,145 8,919

7. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 56,200 56,200

Deferred
tax
£   
Balance at 1 April 2022 56,200
Balance at 31 March 2023 56,200

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
200 Ordinary shares 1 200 200

9. RESERVES
Fair
value
reserve
£   
At 1 April 2022
and 31 March 2023 260,470