| REGISTERED NUMBER: |
| CODECREST LIMITED |
| STRATEGIC REPORT, DIRECTORS' REPORT AND |
| AUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| REGISTERED NUMBER: |
| CODECREST LIMITED |
| STRATEGIC REPORT, DIRECTORS' REPORT AND |
| AUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| CODECREST LIMITED (REGISTERED NUMBER: 02102329) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| Page |
| Company Information | 1 |
| Strategic Report | 2 |
| Directors' Report | 3 |
| Independent Auditors' Report | 5 |
| Statement of Comprehensive Income | 8 |
| Balance Sheet | 9 |
| Statement of Changes in Equity | 10 |
| Cash Flow Statement | 11 |
| Notes to the Cash Flow Statement | 12 |
| Notes to the Financial Statements | 13 |
| CODECREST LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| Directors: |
| Secretary: |
| Registered office: |
| Business address: |
| Registered number: |
| Auditors: |
| Accountants and Statutory Auditors |
| Dalton House |
| 9 Dalton Square |
| LANCASTER |
| LA1 1WD |
| Bankers: |
| 2 High Street |
| WINDERMERE |
| LA23 1AF |
| Accountants: |
| Dalton House |
| 9 Dalton Square |
| LANCASTER |
| LA1 1WD |
| CODECREST LIMITED (REGISTERED NUMBER: 02102329) |
| STRATEGIC REPORT |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| The directors present their strategic report for the year ended 31 March 2025. |
| Review of business |
| The principal activity of the company is the operation of a hotel. |
| The financial statements show that the company's turnover for the year was £4,221,792 compared to £3,756,580 in the previous year, the directors are pleased with the increase in turnover deriving from additional premium rooms available for a full year. Despite this, operating profit has decreased to of £79,745 compared to £112,314 last year. |
| Principal risks and uncertainties |
| The director considers the following to be the principal risks faced by the company: |
| - The continuing economic uncertainty due to high interest rates; |
| - The impact of the cost of living crisis on customers disposable income; |
| - The ongoing impact of the increased National Minimum wage from April 2025 |
| - The impact of increased National Insurance rates and reduced thresholds; |
| The high cost of living has a negative impact on individuals disposable income and therefore the hospitality and leisure industry could suffer as a result. |
| The directors don't believe that cashflow imposes a risk as it is the company's policy to ensure that forecast funding requirements can be met with available committed facilities. |
| Key performance indicators |
| The directors monitor the progress of the business based on the following KPI's: |
| 2025 | 2024 |
| Average occupancy | 72.7% | 73.8% |
| Based on rooms available | 70 | 64 |
| Average rate per room | £170 | £162 |
| On behalf of the board: |
| CODECREST LIMITED (REGISTERED NUMBER: 02102329) |
| DIRECTORS' REPORT |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| The directors present their report with the financial statements of the company for the year ended 31 March 2025. |
| Principal activity |
| The principal activity of the company in the year under review was that of hotelier. |
| Dividends |
| The directors recommend that no final dividend be paid on any class of shares. |
| Future developments |
| Incorporated within Principal Risks and Uncertainties in the Strategic Report. |
| Directors |
| Other changes in directors holding office are as follows: |
| Statement of directors' responsibilities |
| The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations. |
| Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
| - | select suitable accounting policies and then apply them consistently; |
| - | make judgements and accounting estimates that are reasonable and prudent; |
| - | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
| The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
| Statement as to disclosure of information to auditors |
| So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
| CODECREST LIMITED (REGISTERED NUMBER: 02102329) |
| DIRECTORS' REPORT |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| Auditors |
| The auditors, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
| On behalf of the board: |
| INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF |
| CODECREST LIMITED |
| Opinion |
| We have audited the financial statements of Codecrest Limited (the 'company') for the year ended 31 March 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
| In our opinion the financial statements: |
| - | give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended; |
| - | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
| - | have been prepared in accordance with the requirements of the Companies Act 2006. |
| Basis for opinion |
| We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
| Conclusions relating to going concern |
| In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
| Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
| Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
| Other information |
| The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Directors' Report, but does not include the financial statements and our Auditors' Report thereon. |
| Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
| In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
| Opinions on other matters prescribed by the Companies Act 2006 |
| In our opinion, based on the work undertaken in the course of the audit: |
| - | the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| - | the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements. |
| INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF |
| CODECREST LIMITED |
| Matters on which we are required to report by exception |
| In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report. |
| We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
| - | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
| - | the financial statements are not in agreement with the accounting records and returns; or |
| - | certain disclosures of directors' remuneration specified by law are not made; or |
| - | we have not received all the information and explanations we require for our audit. |
| Responsibilities of directors |
| As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
| In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
| INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF |
| CODECREST LIMITED |
| Auditors' responsibilities for the audit of the financial statements |
| Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
| The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
| · enquiries are made of management and those charged with governance as to whether there is any knowledge of actual, suspected, or alleged fraud, whether there is any known non-compliance with laws or regulations, and whether the company has been subject to any litigation or any legal claims. |
| · audit work over the risk of management override of controls is undertaken. This includes testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias. |
| · analytical reviews are performed on the financial statements at all stages of the audit by comparison to prior years, budgets and expectations to ensure the reasonableness of the figures therein. |
| · online review of company's bank to confirm bank balances, loan facilities and security held. |
| · detailed audit testing is undertaken in specific areas to ensure that income and expenditure is correctly recorded and is a genuine income or expense of the company. |
| · enquiries are made of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations. |
| · financial statement disclosures are reviewed and tested to supporting documentation to assess compliance with applicable laws and regulations. |
| Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. |
| A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report. |
| Use of our report |
| This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
| for and on behalf of |
| Accountants and Statutory Auditors |
| Dalton House |
| 9 Dalton Square |
| LANCASTER |
| LA1 1WD |
| CODECREST LIMITED (REGISTERED NUMBER: 02102329) |
| STATEMENT OF COMPREHENSIVE INCOME |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| Turnover | 3 |
| Cost of sales |
| Gross profit |
| Administrative expenses |
| 65,410 | 41,580 |
| Other operating income | 4 |
| Operating profit | 6 |
| Interest receivable and similar income |
| 80,556 | 113,274 |
| Interest payable and similar expenses | 8 |
| Profit before taxation |
| Tax on profit | 9 |
| Profit for the financial year |
| Other comprehensive income | - | - |
| Total comprehensive income for the year |
| CODECREST LIMITED (REGISTERED NUMBER: 02102329) |
| BALANCE SHEET |
| 31 MARCH 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ |
| Fixed assets |
| Tangible assets | 11 |
| Current assets |
| Stocks | 12 |
| Debtors | 13 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 14 |
| Net current liabilities | ( |
) | ( |
) |
| Total assets less current liabilities |
| Provisions for liabilities | 15 |
| Net assets |
| Capital and reserves |
| Called up share capital | 16 |
| Revaluation reserve |
| Retained earnings |
| Shareholders' funds |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| CODECREST LIMITED (REGISTERED NUMBER: 02102329) |
| STATEMENT OF CHANGES IN EQUITY |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| Called up |
| share | Retained | Revaluation | Total |
| capital | earnings | reserve | equity |
| £ | £ | £ | £ |
| Balance at 1 April 2023 |
| Changes in equity |
| Profit for the year | - | 63,440 | - | 63,440 |
| Total comprehensive income | - |
| Dividends | - | ( |
) | - | ( |
) |
| Balance at 31 March 2024 |
| Changes in equity |
| Profit for the year | - | 28,782 | - | 28,782 |
| Total comprehensive income | - |
| Dividends | - | ( |
) | - | ( |
) |
| Balance at 31 March 2025 |
| CODECREST LIMITED (REGISTERED NUMBER: 02102329) |
| CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 1 |
| Interest paid | ( |
) |
| Tax paid | ( |
) | ( |
) |
| Net cash from operating activities |
| Cash flows from investing activities |
| Purchase of tangible fixed assets | ( |
) | ( |
) |
| Interest received |
| Net cash from investing activities | ( |
) | ( |
) |
| Cash flows from financing activities |
| Amount introduced by directors | 17,516 | 60,860 |
| Amount withdrawn by directors | (34,809 | ) | (154,217 | ) |
| Inter group borrowings | ( |
) |
| Equity dividends paid | ( |
) | ( |
) |
| Net cash from financing activities | ( |
) | ( |
) |
| Increase in cash and cash equivalents |
| Cash and cash equivalents at beginning of year |
2 |
136,826 |
| Cash and cash equivalents at end of year | 2 | 367,379 | 251,286 |
| CODECREST LIMITED (REGISTERED NUMBER: 02102329) |
| NOTES TO THE CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 1. | Reconciliation of profit before taxation to cash generated from operations |
| 2025 | 2024 |
| £ | £ |
| Profit before taxation |
| Depreciation charges |
| Profit on disposal of fixed assets | ( |
) | ( |
) |
| Finance costs | 167 | - |
| Finance income | (811 | ) | (960 | ) |
| 398,393 | 382,559 |
| Increase in stocks | ( |
) | ( |
) |
| Decrease/(increase) in trade and other debtors | ( |
) |
| Decrease in trade and other creditors | ( |
) | ( |
) |
| Cash generated from operations |
| 2. | Cash and cash equivalents |
| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
| Year ended 31 March 2025 |
| 31/3/25 | 1/4/24 |
| £ | £ |
| Cash and cash equivalents | 367,379 | 251,286 |
| Year ended 31 March 2024 |
| 31/3/24 | 1/4/23 |
| £ | £ |
| Cash and cash equivalents | 251,286 | 136,826 |
| 3. | Analysis of changes in net funds |
| At 1/4/24 | Cash flow | At 31/3/25 |
| £ | £ | £ |
| Net cash |
| Cash at bank and in hand | 251,286 | 116,093 | 367,379 |
| 251,286 | 367,379 |
| Total | 251,286 | 116,093 | 367,379 |
| CODECREST LIMITED (REGISTERED NUMBER: 02102329) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 1. | Statutory information |
| Codecrest Limited is a |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Although there are net current liabilities at the balance sheet date, due to the support of the parent company, the accounts have been prepared on the going concern basis. |
| Significant judgements and estimates |
| When preparing the financial statements, the directors are required to make judgements, estimates and |
| assumptions about the carrying value of assets, liabilities, income and expenses.The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
| The Company does not have any key assumptions concerning the future, or other key sources of estimation uncertainty in the reporting period that may have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
| No judgements have been made in applying the Company's accounting policies in the preparation of the financial statements, other than those involving estimation. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable, for goods and services provided in the normal course of business, net of discounts, rebates, value added tax and other sales taxes. |
| Turnover is recognised at a point in time when a performance obligation is satisfied by transferring a good or service to the customer. |
| Tangible fixed assets |
| Freehold property | - |
| Fixtures and equipment | - |
| Motor vehicles | - |
| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
| Stocks |
| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. |
| CODECREST LIMITED (REGISTERED NUMBER: 02102329) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 2. | Accounting policies - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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. |
| 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. |
| 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. |
| 3. | Turnover |
| The turnover and profit before taxation are attributable to the one principal activity of the company. |
| 4. | Other operating income |
| 2025 | 2024 |
| £ | £ |
| Other income | 14,335 | 70,734 |
| Other income includes the balance received for loss of earnings as a result of the kitchen fire in April 2023. |
| 5. | Employees and directors |
| 2025 | 2024 |
| £ | £ |
| Wages and salaries |
| Social security costs |
| Other pension costs |
| CODECREST LIMITED (REGISTERED NUMBER: 02102329) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 5. | Employees and directors - continued |
| The average number of employees during the year was as follows: |
| 2025 | 2024 |
| Management and administration | 13 | 13 |
| Front of house | 53 | 52 |
| 2025 | 2024 |
| £ | £ |
| Directors' remuneration |
| Directors' pension contributions to money purchase schemes |
| The number of directors to whom retirement benefits were accruing was as follows: |
| Money purchase schemes |
| 6. | Operating profit |
| The operating profit is stated after charging/(crediting): |
| 2025 | 2024 |
| £ | £ |
| Hire of plant and machinery |
| Depreciation - owned assets |
| Profit on disposal of fixed assets | ( |
) | ( |
) |
| Auditors' remuneration |
| Auditors' remuneration for non audit work |
| 7. | Exceptional items |
| 2025 | 2024 |
| £ | £ |
| Exceptional items | (100,000 | ) | (100,995 | ) |
| This represents full and final compensation paid to an employee for life changing injuries as the result of a work related incident. |
| 8. | Interest payable and similar expenses |
| 2025 | 2024 |
| £ | £ |
| Other interest payable and |
| charges |
| CODECREST LIMITED (REGISTERED NUMBER: 02102329) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 9. | Taxation |
| Analysis of the tax charge |
| The tax charge on the profit for the year was as follows: |
| 2025 | 2024 |
| £ | £ |
| Current tax: |
| UK corporation tax |
| Deferred tax | ( |
) |
| Tax on profit |
| Reconciliation of total tax charge included in profit and loss |
| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
| 2025 | 2024 |
| £ | £ |
| Profit before tax |
| Profit multiplied by the standard rate of corporation tax in the UK of (2024 - |
| Effects of: |
| Expenses not deductible for tax purposes |
| Utilisation of group losses | (2,334 | ) | (3,346 | ) |
| for current tax and deferred |
| Total tax charge | 51,607 | 49,834 |
| 10. | Dividends |
| 2025 | 2024 |
| £ | £ |
| Ordinary shares shares of 1 each |
| Interim |
| CODECREST LIMITED (REGISTERED NUMBER: 02102329) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 11. | Tangible fixed assets |
| Fixtures |
| Freehold | and | Motor |
| property | equipment | vehicles | Totals |
| £ | £ | £ | £ |
| Cost |
| At 1 April 2024 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 March 2025 |
| Depreciation |
| At 1 April 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 March 2025 |
| Net book value |
| At 31 March 2025 |
| At 31 March 2024 |
| On transition to FRS 102 revalued property, measured at fair value, was transferred at deemed cost. The historical cost of Freehold property is £6,480,971 (2024 - £6,413,086, accumulated depreciation £996,664 (2024 - £867,031) and net book value £5,484,307 (2024 - £5,546,055) |
| 12. | Stocks |
| 2025 | 2024 |
| £ | £ |
| Stocks |
| 13. | Debtors: amounts falling due within one year |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments |
| CODECREST LIMITED (REGISTERED NUMBER: 02102329) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 14. | Creditors: amounts falling due within one year |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Tax |
| Social security and other taxes |
| VAT | 145,009 | 145,448 |
| Other creditors |
| Directors' current accounts | - | 17,293 |
| Accruals |
| 15. | Provisions for liabilities |
| 2025 | 2024 |
| £ | £ |
| Deferred tax | 385,683 | 395,301 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2024 |
| Provided during year | ( |
) |
| Balance at 31 March 2025 |
| 16. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary shares | 1 | 37,500 | 37,500 |
| Each share entitles the holder to vote, to dividends and to capital distribution arising from the winding up of the company. |
| 17. | Pension commitments |
| The company operates a defined contribution pension scheme. Contributions totalling £6,696 (2024 - £5,792) were payable to the scheme at the end of the year and are included in other creditors. |
| The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £92,236 (2024 - £26,108). |
| 18. | Related party disclosures |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| CODECREST LIMITED (REGISTERED NUMBER: 02102329) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 19. | Ultimate controlling party |
| The controlling party is the parent Youngmight Limited, incorporated in England & Wales. |
| The registered office of Youngmight Limited is Dalton House, 9 Dalton Square, Lancaster, LA1 1WD. |
| The parent produces publicly available financial statements, these are available upon request from Companies House, Crown Way, Cardiff, CF14 3UZ. |