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Registered number: 07050625
Coode Associates Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Blue-Shore Accountants Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07050625
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 23,945
Tangible Assets 5 21,988 27,658
Investments 6 178,539 -
200,527 51,603
CURRENT ASSETS
Debtors 7 74,147 323,452
Cash at bank and in hand 238,246 144,217
312,393 467,669
Creditors: Amounts Falling Due Within One Year 8 (284,236 ) (466,548 )
NET CURRENT ASSETS (LIABILITIES) 28,157 1,121
TOTAL ASSETS LESS CURRENT LIABILITIES 228,684 52,724
Creditors: Amounts Falling Due After More Than One Year 9 (14,167 ) (24,167 )
NET ASSETS 214,517 28,557
CAPITAL AND RESERVES
Called up share capital 10 200 200
Profit and Loss Account 214,317 28,357
SHAREHOLDERS' FUNDS 214,517 28,557
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Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
C Coode
Director
L Myson
Director
10/04/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Coode Associates Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07050625 . The registered office is 12-13 King Street, Richmond, TW9 1ND.
The presentation currency of the financial statements is the Pound Sterling (£)
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Research and Development. It has now been fully amortised over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 10% Straight Line
Computer Equipment 25% Straight Line
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2022: 6)
6 6
4. Intangible Assets
Other
£
Cost
As at 1 January 2023 133,320
As at 31 December 2023 133,320
Amortisation
As at 1 January 2023 109,375
Provided during the period 23,945
As at 31 December 2023 133,320
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 41,878 14,410 56,288
Additions - 754 754
Disposals - (1,896 ) (1,896 )
As at 31 December 2023 41,878 13,268 55,146
Depreciation
As at 1 January 2023 17,622 11,008 28,630
Provided during the period 4,188 950 5,138
Disposals - (610 ) (610 )
As at 31 December 2023 21,810 11,348 33,158
Net Book Value
As at 31 December 2023 20,068 1,920 21,988
As at 1 January 2023 24,256 3,402 27,658
6. Investments
Subsidiaries
£
Cost
As at 1 January 2023 -
Additions 178,539
As at 31 December 2023 178,539
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 178,539
As at 1 January 2023 -
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7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 52,219 128,307
Prepayments and accrued income 19,928 16,606
Other debtors 2,000 -
74,147 144,913
Due after more than one year
Other debtors - 178,539
- 178,539
74,147 323,452
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 29,637 19,912
Bank loans and overdrafts 10,000 10,000
Corporation tax 132,472 43,437
Other taxes and social security 12,227 4,051
VAT 25,165 51,536
Other creditors - 2,826
Accruals and deferred income 74,735 334,786
284,236 466,548
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 14,167 24,167
14,167 24,167
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 200 200
11. Related Party Transactions
Unless otherwise disclosed, all related party transactions have been conducted under normal market conditions, including dividend payments to its shareholders. 
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