DCODEIT LTD - Filleted accounts

Registered number

07683706

DCODEIT LTD

Unaudited Filleted Financial Statements

31 December 2024

DCODEIT LTD
Registered number:		07683706
Statement of Financial Position
as at 31 December 2024

Notes			2024		2023
			£		£
Fixed assets
Tangible assets	3		118,114		62,565

Current assets
Debtors	4	4,458,361		834,811
Cash at bank and in hand		380,294		1,380,174
		4,838,655		2,214,985

Creditors: amounts falling due within one year	5	(4,364,528)		(1,219,147)

Net current assets			474,127		995,838

Total assets less current liabilities			592,241		1,058,403


Provisions for liabilities			(29,529)		(11,887)


Net assets			562,712		1,046,516

Capital and reserves
Called up share capital			80		80
Profit and loss account			562,632		1,046,436

Shareholders' funds			562,712		1,046,516

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.




J Gibson
Director
Approved by the board on 29 September 2025

DCODEIT LTD
Notes to the Financial Statements
for the year ended 31 December 2024


1	Accounting policies

	Basis of preparation
	The financial statements 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). The presentation currency of the financial statements is Pound Sterling (£).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. 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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings	over 50 years
	Leasehold Property	over 5 years
	Office Equipment	over 4 years
	Computer Equipment	over 3 years

	Financial Instruments
	The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. (i) Financial assets Basic financial assets, including trade and other debtors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the Income Statement.
	If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Income Statement. Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in, the Income Statement, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
	Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. (ii) Financial liabilities Basic financial liabilities, including trade and other creditors, loans from fellow Group companies that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if payment is due within one year. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.

	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.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Significant estimates & judgements
	There are no significant judgements or estimates applied to the numbers contained within these financial statements.

	Research & Development
	Revenue expenditure on research and development is written off in the year in which it is incurred.

	Going Concern
	The financial statements have been prepared on the going concern basis. The directors have a reasonable expectation that the company will continue to trade profitably and have adequate resources to continue operating for the foreseeable future. The directors have considered the impact of the Covid 19 pandemic on the operation of the business and is of the opinion that this will not materially affect the ability of the business to continue to trade profitably in the future. On this basis, the directors are therefore of the opinion that they should continue to adopt the going concern basis in preparing the annual financial statements.

	Cash & cash equivalents
	Cash and cash equivalents comprise cash on hand and demand deposits and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk to changes in value.

	Pensions
	The company operates a defined contribution pension scheme. Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2024		2023
Number					Number

	Average number of persons employed by the company			26		29


3	Tangible fixed assets
		Office Equipment		Computer Equipment		Total
£			£		£
	Cost
	At 1 January 2024	205,404		272,612		478,016
	Additions	43,199		53,474		96,673
	At 31 December 2024	248,603		326,086		574,689

	Depreciation
	At 1 January 2024	161,778		253,673		415,451
	Charge for the year	23,544		17,580		41,124
	At 31 December 2024	185,322		271,253		456,575

	Net book value
	At 31 December 2024	63,281		54,833		118,114
	At 31 December 2023	43,626		18,939		62,565


4	Debtors			2024		2023
£					£

	Trade debtors			4,043,742		274,915
	Other debtors			414,619		559,896
				4,458,361		834,811


5	Creditors: amounts falling due within one year			2024		2023
£					£

	Trade creditors			9,849		6,475
	Amounts owed to group undertakings			15,799		79,487
	Taxation and social security costs			189,681		164,780
	Other creditors			4,149,199		968,405
				4,364,528		1,219,147


6	Other financial commitments			2024		2023
£					£

	Total future minimum payments under non-cancellable operating leases			137,542		206,213


7	Related party transactions

	The company has taken advantage of the exemption available 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 other group companies..


8	Controlling party

	The immediate and ultimate controlling parent is RG Group Ltd a company incorporated in England & Wales.


9	Other information

	DCODEIT LTD is a private company limited by shares and incorporated in England. Its registered office is:
	5a Colbeck Mews
	London
	SW7 4LX