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Registration number: 10564704

Code9 (Bristol) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Code9 (Bristol) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Code9 (Bristol) Limited

Company Information

Directors

Mrs I F Hoy

Mr R Hoy

Registered office

Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

Accountants

Ross & Partners (Bristol) Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

 

Code9 (Bristol) Limited

(Registration number: 10564704)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

3

2,520,812

2,494,255

Current assets

 

Debtors

4

1,423

1,042

Cash at bank and in hand

 

4,500

4,500

 

5,923

5,542

Creditors: Amounts falling due within one year

5

(371,866)

(332,834)

Net current liabilities

 

(365,943)

(327,292)

Total assets less current liabilities

 

2,154,869

2,166,963

Creditors: Amounts falling due after more than one year

5

(1,809,491)

(1,809,491)

Net assets

 

345,378

357,472

Capital and reserves

 

Called up share capital

6

2

2

Other reserves

403,299

403,299

Retained earnings

(57,923)

(45,829)

Shareholders' funds

 

345,378

357,472

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Code9 (Bristol) Limited

(Registration number: 10564704)
Balance Sheet as at 31 January 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 October 2024 and signed on its behalf by:
 

.........................................
Mr R Hoy
Director

 

Code9 (Bristol) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Code9 (Bristol) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

3

Investment properties

2024
£

At 1 February

2,494,255

Additions

42,227

Disposals

(15,670)

At 31 January

2,520,812

4

Debtors

Current

2024
£

2023
£

Prepayments

1,423

1,042

 

Code9 (Bristol) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

325,591

293,681

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

40,217

33,095

Accruals and deferred income

 

1,560

1,560

Other creditors

 

4,498

4,498

 

371,866

332,834

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

1,809,491

1,809,491

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         

7

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Other borrowings

1,809,491

1,809,491

 

Code9 (Bristol) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

8

Related party transactions

Loans from related parties

2024

Parent
£

Total
£

At start of period

33,095

33,095

Advanced

7,122

7,122

At end of period

40,217

40,217

2023

Parent
£

Total
£

At start of period

10,867

10,867

Advanced

22,228

22,228

At end of period

33,095

33,095

9

Parent and ultimate parent undertaking

The company's immediate parent is Haycourt Developments Limited, incorporated in England & Wales.