Registered number
12866377
Code1 Group Ltd
Unaudited Filleted Accounts
30 September 2023
Code1 Group Ltd
Registered number: 12866377
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 22,926 30,568
Current assets
Debtors 3 607 5,451
Cash at bank and in hand 1,023 16,049
1,630 21,500
Creditors: amounts falling due within one year 4 (20,440) (48,023)
Net current liabilities (18,810) (26,523)
Net assets 4,116 4,045
Capital and reserves
Called up share capital 1 1
Profit and loss account 4,115 4,044
Shareholder's funds 4,116 4,045
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B D Mead
B D Mead
Director
Approved by the board on 6 March 2024
Code1 Group Ltd
Notes to the Accounts
for the year ended 30 September 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Going concern
Since the year end, the United Kingdom, amongst other countires, have been struck by the Coronavirus (COVID-19) pandemic. Whilst the impact to the company is unquantifiable at present, the directors have considered the financial health of the company along with the various government measures put in place to support businesses through the pandemic and with this in mind, the directors are confident that the company, at the date of signing, will continue as a going concern for the foreseeable future.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Debtors 2023 2022
£ £
Trade debtors 594 3,182
Other debtors 13 2,269
607 5,451
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 1,400 5,000
Trade creditors 1,931 31,931
Other creditors 16,545 11,092
20,440 48,023
5 Other information
Code1 Group Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 6
Lower Farm Studham Lane
Dagnall
Berkhamsted
HP4 1RH
The company is controlled by B D Mead
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