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Registered Number: 07383925
England and Wales

 

 

 

ABCODIA LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 January 2024

End date: 31 December 2024
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts of Abcodia Limited for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the member of Abcodia Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Abcodia Limited and state those matters that we have agreed to state to the Board of Abcodia Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants and as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Abcodia Limited and its members as a body for our work or for this report.

It is your duty to ensure that Abcodia Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and Loss of Abcodia Limited. You consider that Abcodia Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Abcodia Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



....................................................
Allazo Ltd
2 Claridge Court
Lower Kings Road
Berkhamsted
HP4 2AF
12 February 2025
1
 
 
Notes
 
2024
£
  2023
£
Current assets      
Debtors 13,204    19,622 
Creditors: amount falling due within one year (23,890)   (25,115)
Net current assets (10,686)   (5,493)
 
Total assets less current liabilities (10,686)   (5,493)
Net assets (10,686)   (5,493)
 

Capital and reserves
     
Called up share capital 1,104    1,104 
Share premium account 11,710,329    11,710,329 
Profit and loss account (11,722,119)   (11,716,926)
Shareholders' funds (10,686)   (5,493)
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 12 February 2025 and were signed on its behalf by:


-------------------------------
Paul Andrew Peter Foulger
Director
2
General Information
Abcodia Limited is a private company, limited by shares, registered in England and Wales, registration number 07383925, registration address One St Peter's Square, Manchester , M2 3DE.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The financial statements have been prepared on the going concern basis which assumes that the company will continue as a going concern for the foreseeable future. The validity of this assumption depends on the parent company continuing to provide adequate financial support. The parent company directors have indicated that they will provide such support and accordingly the directors believe it appropriate to prepare the financial statements on the going concern basis.
Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:


Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
  • the Company has transferred the significant risks and rewards of ownership to the buyer;
  • the Company retains neither continuing managerial involvement to the degree usually
  • associated with ownership nor effective control over the goods sold;
  • the amount of revenue can be measured reliably;
  • it is probable that the Company will receive the consideration due under the transaction; and
  • the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
  • the amount of revenue can be measured reliably;
  • it is probable that the Company will receive the consideration due under the contract;
  • the stage of completion of the contract at the end of the reporting period can be measured reliably; and
  • the costs incurred and the costs to complete the contract can be measured reliably.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).
3.

Controlling party

The company's parent undertaking and the parent of the smallest group for which consolidated financial statements are prepared is GENinCode Plc. GENinCode Plc's registered office is One, St Peter's Square, Manchester, M2 3DE.
4.

Related Parties

As at 31st December 2024, there is a balance included in Other Creditors of £20,029 (2023: £20,522) owed to GENinCode Plc, the Parent Company. The loan is interest free and repayable on demand.
3