Company Registration No. 03416175 (England and Wales)
CODEC COMMUNICATIONS LIMITED
Unaudited accounts
for the year ended 31 August 2024
CODEC COMMUNICATIONS LIMITED
Unaudited accounts
Contents
CODEC COMMUNICATIONS LIMITED
Company Information
for the year ended 31 August 2024
Directors
C F Adams
D P W Adams
Company Number
03416175 (England and Wales)
Registered Office
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB
England
CODEC COMMUNICATIONS LIMITED
Statement of financial position
as at 31 August 2024
Tangible assets
7,866
9,858
Cash at bank and in hand
1,861
5,533
Creditors: amounts falling due within one year
(41,566)
(51,389)
Net current liabilities
(16,769)
(11,883)
Total assets less current liabilities
(8,903)
(2,025)
Creditors: amounts falling due after more than one year
(13,200)
(21,000)
Net liabilities
(22,103)
(23,025)
Called up share capital
100
100
Profit and loss account
(22,203)
(23,125)
Shareholders' funds
(22,103)
(23,025)
For the year ending 31 August 2024 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 January 2024 and were signed on its behalf by
D P W Adams
Director
Company Registration No. 03416175
CODEC COMMUNICATIONS LIMITED
Notes to the Accounts
for the year ended 31 August 2024
CODEC COMMUNICATIONS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 03416175. The registered office is 3 Warners Mill, Silks Way, Braintree, Essex, CM7 3GB, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% per annum straight line
Plant & machinery
33% per annum straight line
Motor vehicles
25% per annum reducing balance
Fixtures & fittings
15% per annum reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
CODEC COMMUNICATIONS LIMITED
Notes to the Accounts
for the year ended 31 August 2024
4
Intangible fixed assets
Goodwill
At 1 September 2023
260,000
At 1 September 2023
260,000
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 September 2023
11,325
1,740
28,160
3,868
45,093
At 31 August 2024
11,325
2,214
28,160
3,868
45,567
At 1 September 2023
8,875
920
21,756
3,684
35,235
Charge for the year
385
452
1,601
28
2,466
At 31 August 2024
9,260
1,372
23,357
3,712
37,701
At 31 August 2024
2,065
842
4,803
156
7,866
At 31 August 2023
2,450
820
6,404
184
9,858
Amounts falling due within one year
Trade debtors
21,302
25,133
Accrued income and prepayments
1,048
1,048
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
9,000
9,000
Trade creditors
12,686
17,351
Taxes and social security
7,164
6,434
Deferred income
12,536
17,724
CODEC COMMUNICATIONS LIMITED
Notes to the Accounts
for the year ended 31 August 2024
8
Creditors: amounts falling due after more than one year
2024
2023
As at the year end D P W Adams owed the company £88 (2023 - £7,292).
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).