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REGISTERED NUMBER: 01331553 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

CODEFINE LIMITED

CODEFINE LIMITED (REGISTERED NUMBER: 01331553)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CODEFINE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: J Grunzweig
Mrs K Grunzweig





SECRETARY: Mrs K Grunzweig





REGISTERED OFFICE: 115 Craven Park Road
South Tottenham
London
N15 6BL





REGISTERED NUMBER: 01331553 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

CODEFINE LIMITED (REGISTERED NUMBER: 01331553)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Investment property 4 1,200,000 1,200,000

CURRENT ASSETS
Debtors 5 15,000 18,045
Cash at bank 1,533 1,287
16,533 19,332
CREDITORS
Amounts falling due within one year 6 (14,107 ) (13,068 )
NET CURRENT ASSETS 2,426 6,264
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,202,426

1,206,264

CREDITORS
Amounts falling due after more than one
year

7

(7,000

)

(10,001

)
NET ASSETS 1,195,426 1,196,263

CAPITAL AND RESERVES
Called up share capital 9 2 2
Revaluation reserve 10 1,184,800 1,184,800
Retained earnings 10 10,624 11,461
SHAREHOLDERS' FUNDS 1,195,426 1,196,263

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

CODEFINE LIMITED (REGISTERED NUMBER: 01331553)

BALANCE SHEET - continued
31 MARCH 2024


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 22 November 2024 and were signed on its behalf by:





J Grunzweig - Director


CODEFINE LIMITED (REGISTERED NUMBER: 01331553)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Codefine Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 2 (2023 - 2 ) .

CODEFINE LIMITED (REGISTERED NUMBER: 01331553)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,200,000
NET BOOK VALUE
At 31 March 2024 1,200,000
At 31 March 2023 1,200,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2017 15,200
Cost 1,184,800
1,200,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors - 3,045
Other debtors 15,000 15,000
15,000 18,045

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Taxation and social security 8,633 8,901
Other creditors 5,474 4,167
14,107 13,068

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 7,000 10,001

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 7,000 10,001

Under the bank loan, £7,000 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

CODEFINE LIMITED (REGISTERED NUMBER: 01331553)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2 Share capital 1 £1 2 2

10. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2023 11,461 1,184,800 1,196,261
Profit for the year 19,163 19,163
Dividends (20,000 ) (20,000 )
At 31 March 2024 10,624 1,184,800 1,195,424

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £20,000 (2023 - £25,000) were paid to the directors .

12. ULTIMATE CONTROLLING PARTY

The controlling party is J Grunzweig.