IRIS Accounts Production v24.3.2.46 SC233255 Board of Directors Board of Directors 1.8.23 31.7.24 31.7.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2332552023-07-31SC2332552024-07-31SC2332552023-08-012024-07-31SC2332552022-07-31SC2332552022-08-012023-07-31SC2332552023-07-31SC233255ns15:Scotland2023-08-012024-07-31SC233255ns14:PoundSterling2023-08-012024-07-31SC233255ns10:Director12023-08-012024-07-31SC233255ns10:Director22023-08-012024-07-31SC233255ns10:PrivateLimitedCompanyLtd2023-08-012024-07-31SC233255ns10:SmallEntities2023-08-012024-07-31SC233255ns10:AuditExempt-NoAccountantsReport2023-08-012024-07-31SC233255ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-31SC233255ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-31SC233255ns10:FullAccounts2023-08-012024-07-31SC23325512023-08-012024-07-31SC233255ns10:OrdinaryShareClass12023-08-012024-07-31SC233255ns10:CompanySecretary12023-08-012024-07-31SC233255ns10:RegisteredOffice2023-08-012024-07-31SC233255ns5:CurrentFinancialInstruments2024-07-31SC233255ns5:CurrentFinancialInstruments2023-07-31SC233255ns5:Non-currentFinancialInstruments2024-07-31SC233255ns5:Non-currentFinancialInstruments2023-07-31SC233255ns5:ShareCapital2024-07-31SC233255ns5:ShareCapital2023-07-31SC233255ns5:RetainedEarningsAccumulatedLosses2024-07-31SC233255ns5:RetainedEarningsAccumulatedLosses2023-07-31SC233255ns5:NetGoodwill2023-08-012024-07-31SC233255ns5:IntangibleAssetsOtherThanGoodwill2023-08-012024-07-31SC233255ns5:LandBuildingsns5:OwnedOrFreeholdAssets2023-08-012024-07-31SC233255ns5:PlantMachinery2023-08-012024-07-31SC233255ns5:MotorVehicles2023-08-012024-07-31SC233255ns5:NetGoodwill2023-07-31SC233255ns5:NetGoodwill2024-07-31SC233255ns5:NetGoodwill2023-07-31SC233255ns5:LandBuildings2023-07-31SC233255ns5:PlantMachinery2023-07-31SC233255ns5:MotorVehicles2023-07-31SC233255ns5:LandBuildings2023-08-012024-07-31SC233255ns5:LandBuildings2024-07-31SC233255ns5:PlantMachinery2024-07-31SC233255ns5:MotorVehicles2024-07-31SC233255ns5:LandBuildings2023-07-31SC233255ns5:PlantMachinery2023-07-31SC233255ns5:MotorVehicles2023-07-31SC233255ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-31SC233255ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-31SC233255ns10:OrdinaryShareClass12024-07-31
REGISTERED NUMBER: SC233255 (Scotland)












Financial Statements

for the Year Ended 31 July 2024

for

C & J Codona Limited

C & J Codona Limited (Registered number: SC233255)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


C & J Codona Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: J Codona
Mrs N Codona





SECRETARY: J Codona





REGISTERED OFFICE: Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU





REGISTERED NUMBER: SC233255 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

C & J Codona Limited (Registered number: SC233255)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 - -
Property, plant and equipment 4 94,369 103,693
94,369 103,693

CURRENT ASSETS
Debtors 5 113,439 47,988

CREDITORS
Amounts falling due within one year 6 153,350 43,977
NET CURRENT (LIABILITIES)/ASSETS (39,911 ) 4,011
TOTAL ASSETS LESS CURRENT
LIABILITIES

54,458

107,704

CREDITORS
Amounts falling due after more than one year 7 39,732 63,255
NET ASSETS 14,726 44,449

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 14,626 44,349
SHAREHOLDERS' FUNDS 14,726 44,449

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

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

C & J Codona Limited (Registered number: SC233255)

Balance Sheet - continued
31 July 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2025 and were signed on its behalf by:




J Codona - Director



Mrs N Codona - Director


C & J Codona Limited (Registered number: SC233255)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. 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.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.
The Coronavirus outbreak has created great uncertainty and many challenges in all companies. In order to protect our business, we have taken prompt action to minimise costs across the company. While the impact of COVID-19 is still uncertain and the final impact on the company cannot be accurately predicted, the directors have reviewed their projections and believe that they will be able to trade through the current difficult climate.

Revenue
Turnover represents the amounts derived from the provision of goods and services, excluding value added tax and trade discounts. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


C & J Codona Limited (Registered number: SC233255)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

1. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Impairment of fixed assets
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

C & J Codona Limited (Registered number: SC233255)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

3. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 15,000
AMORTISATION
At 1 August 2023
and 31 July 2024 15,000
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

4. PROPERTY, PLANT AND EQUIPMENT
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 August 2023 50,000 51,983 17,035 119,018
Disposals - (4,583 ) - (4,583 )
At 31 July 2024 50,000 47,400 17,035 114,435
DEPRECIATION
At 1 August 2023 1,000 6,403 7,922 15,325
Charge for year - 6,831 2,278 9,109
Eliminated on disposal - (4,368 ) - (4,368 )
At 31 July 2024 1,000 8,866 10,200 20,066
NET BOOK VALUE
At 31 July 2024 49,000 38,534 6,835 94,369
At 31 July 2023 49,000 45,580 9,113 103,693

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 113,439 47,988

C & J Codona Limited (Registered number: SC233255)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 14,464 14,338
Hire purchase contracts 2,704 2,278
Other creditors 136,182 27,361
153,350 43,977

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 8,139 14,145
Hire purchase contracts 7,017 9,722
Other creditors 24,576 39,388
39,732 63,255

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100