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REGISTERED NUMBER: 01425753 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CODEC FACILITIES LTD.

CODEC FACILITIES LTD. (REGISTERED NUMBER: 01425753)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


CODEC FACILITIES LTD.

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: Mr J J Caldwell
Mrs J A Caldwell





SECRETARY: Mr J J Caldwell





REGISTERED OFFICE: 1 West Of St Laurence, Old Warwick Road
Rowington
Warwick
Warwickshire
CV35 7AB





REGISTERED NUMBER: 01425753 (England and Wales)





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

CODEC FACILITIES LTD. (REGISTERED NUMBER: 01425753)

STATEMENT OF FINANCIAL POSITION
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,380 14,308

CURRENT ASSETS
Stocks 126,559 97,070
Debtors 5 833 17,781
Cash at bank 132,303 112,615
259,695 227,466
CREDITORS
Amounts falling due within one year 6 35,233 27,511
NET CURRENT ASSETS 224,462 199,955
TOTAL ASSETS LESS CURRENT
LIABILITIES

262,842

214,263

CREDITORS
Amounts falling due after more than one
year

7

(5,278

)

-

PROVISIONS FOR LIABILITIES 8 (7,522 ) (2,719 )
NET ASSETS 250,042 211,544

CAPITAL AND RESERVES
Called up share capital 9 25,000 25,000
Retained earnings 225,042 186,544
SHAREHOLDERS' FUNDS 250,042 211,544

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 10 September 2024 and were signed on its behalf by:




Mr J J Caldwell - Director


CODEC FACILITIES LTD. (REGISTERED NUMBER: 01425753)

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

1. STATUTORY INFORMATION

Codec Facilities 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Equipment - 25% reducing balance
Furniture and fittings - 15% reducing balance
Motor vehicles - 25% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

CODEC FACILITIES LTD. (REGISTERED NUMBER: 01425753)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Furniture
and Motor
Equipment fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 43,271 27,008 62,246 132,525
Additions 575 516 32,990 34,081
Disposals - - (15,241 ) (15,241 )
At 31 December 2023 43,846 27,524 79,995 151,365
DEPRECIATION
At 1 January 2023 41,869 23,664 52,684 118,217
Charge for year 1,105 546 5,899 7,550
Eliminated on disposal - - (12,782 ) (12,782 )
At 31 December 2023 42,974 24,210 45,801 112,985
NET BOOK VALUE
At 31 December 2023 872 3,314 34,194 38,380
At 31 December 2022 1,402 3,344 9,562 14,308

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 32,990
At 31 December 2023 32,990
DEPRECIATION
Charge for year 4,123
At 31 December 2023 4,123
NET BOOK VALUE
At 31 December 2023 28,867

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 100 3,141
Other debtors - 4,777
Prepayments and accrued income 733 9,863
833 17,781

CODEC FACILITIES LTD. (REGISTERED NUMBER: 01425753)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 3,333 -
Trade creditors 726 113
Tax 11,058 14,193
VAT 8,866 153
Other creditors - 1,813
Directors' current accounts 900 450
Accrued expenses 10,350 10,789
35,233 27,511

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 5,278 -

8. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 7,522 2,719

Deferred
tax
£   
Balance at 1 January 2023 2,719
Charge to Statement of Income and Retained Earnings during year 4,803
Balance at 31 December 2023 7,522

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
25,000 Ordinary 1 25,000 25,000