2024-01-012024-12-312024-12-31false10920090CODE CONSTRUCTION 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CODE CONSTRUCTION LTD

Registered Number
10920090
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

CODE CONSTRUCTION LTD
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

M Barber
C Newman

Registered Address

14 Park Lane Paulerspury
Towcester
NN12 7NF

Registered Number

10920090 (England and Wales)
CODE CONSTRUCTION LTD
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets314,69519,595
14,69519,595
Current assets
Stocks41,6801,375
Debtors52,8335,460
Cash at bank and on hand23,01930,161
27,53236,996
Creditors amounts falling due within one year6(26,213)(25,207)
Net current assets (liabilities)1,31911,789
Total assets less current liabilities16,01431,384
Creditors amounts falling due after one year7(4,548)(14,176)
Provisions for liabilities8(1,593)(2,261)
Net assets9,87314,947
Capital and reserves
Called up share capital100100
Profit and loss account9,77314,847
Shareholders' funds9,87314,947
The financial statements were approved and authorised for issue by the Board of Directors on 5 March 2025, and are signed on its behalf by:
C Newman
Director
Registered Company No. 10920090
CODE CONSTRUCTION LTD
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
Office Equipment25
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year14
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 January 2415,36128,9093,10847,378
At 31 December 2415,36128,9093,10847,378
Depreciation and impairment
At 01 January 249,24816,2182,31727,783
Charge for year1,5293,1731984,900
At 31 December 2410,77719,3912,51532,683
Net book value
At 31 December 244,5849,51859314,695
At 31 December 236,11312,69179119,595
4.Stocks

2024

2023

££
Work in progress1,6801,375
Total1,6801,375
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables8585
Other debtors-2,078
Prepayments and accrued income2,7483,297
Total2,8335,460
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,672-
Bank borrowings and overdrafts9,5009,500
Amounts owed to related parties9,0009,000
Taxation and social security4,3404,766
Other creditors-141
Accrued liabilities and deferred income1,7011,800
Total26,21325,207
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts4,54814,176
Total4,54814,176
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)1,5932,261
Total1,5932,261
9.Related party transactions
A loan account exists between the company and Yew-Prop Ltd, a company in which the director, C Newman, is also a director. At the year end, the balance owed to Yew-Prop Ltd was £9,000 (2023 - £9,000).