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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
Page
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CODEC COMMUNICATIONS LIMITED Company Information for the year ended 31 August 2024
Directors
C F Adams D P W Adams
Secretary
R V Adams
Company Number
03416175 (England and Wales)
Registered Office
3 Warners Mill Silks Way Braintree Essex CM7 3GB England
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CODEC COMMUNICATIONS LIMITED Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
7,866 
9,858 
Current assets
Inventories
499 
499 
Debtors
22,437 
33,474 
Cash at bank and in hand
1,861 
5,533 
24,797 
39,506 
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)
Capital and reserves
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
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CODEC COMMUNICATIONS LIMITED Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
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 taxation
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.
Financial instruments
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.
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CODEC COMMUNICATIONS LIMITED Notes to the Accounts for the year ended 31 August 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 September 2023
260,000 
At 31 August 2024
260,000 
Amortisation
At 1 September 2023
260,000 
At 31 August 2024
260,000 
Net book value
At 31 August 2024
- 
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 
Additions
- 
474 
- 
- 
474 
At 31 August 2024
11,325 
2,214 
28,160 
3,868 
45,567 
Depreciation
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 
Net book value
At 31 August 2024
2,065 
842 
4,803 
156 
7,866 
At 31 August 2023
2,450 
820 
6,404 
184 
9,858 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
21,302 
25,133 
Accrued income and prepayments
1,048 
1,048 
Other debtors
87 
7,293 
22,437 
33,474 
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 
Other creditors
180 
880 
Deferred income
12,536 
17,724 
41,566 
51,389 
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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 
£ 
£ 
Bank loans
13,200 
21,000 
9
Loans to directors
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).
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