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Registration number: 05998131

Codra Software Limited
Filleted Financial Statements
for the Year Ended 31 December 2024

Codra Software Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Financial Statements | 3 to 8

Codra Software Limited

Company Information

Director | Mr E Oddoux

Registered office | Becket House 1 Lambeth Palace Road London SE1 7EU

Auditors | Bourner Bullock Chartered Accountants 114 St Martin's Lane Covent Garden London WC2N 4BE

Codra Software Limited

(Registration number: 05998131)
Balance Sheet as at 31 December 2024

| Note | 2024 £ | 2023 £
Current assets |  |  |
Debtors | 6 | 665,017 | 566,032
Cash at bank and in hand |  | 1,348,370 | 876,134
|  | 2,013,387 | 1,442,166
Creditors: Amounts falling due within one year | 7 | (1,069,636) | (573,875)
Total assets less current liabilities |  | 943,751 | 868,291
Provisions for liabilities |  | (27,565) | (15,530)
Net assets |  | 916,186 | 852,761
Capital and reserves |  |  |
Called up share capital | 8 | 100,000 | 100,000
Retained earnings |  | 816,186 | 752,761
Shareholders' funds |  | 916,186 | 852,761

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 September 2025

.........................................

Mr E Oddoux
Director

Codra Software Limited

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

1 | General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Becket House
1 Lambeth Palace Road
London
SE1 7EU
England

Principal activity

The principal activity of the Company is information technology consultancy activities.

These financial statements were authorised for issue by the director on 30 September 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company made a profit in the year and has net assets. The company is dependent on the support from the parent to continue as a going concern.
The financial statements have been prepared on a going concern basis that assumes further funding will be obtained.

Codra Software Limited

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Financial instruments

Classification
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to/from related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Codra Software Limited

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

Debtors

Basic financial assets, including trade and other debtors, are intially 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, less any impairment.
Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call 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 of change in value.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the Company has an obligation at the reporting date as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Codra Software Limited

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

3 | Significant judgements and key sources of estimation uncertainty

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion the warranty provision is the only significant judgement and key source of estimation uncertainty. The carrying value of the warranty provision at 31 December 2024 is £27,565 (2023: £15,530)

4 | Summary audit opinion

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 30 September 2025 was Hannah Fowlie, who signed for and on behalf of Bourner Bullock.

5 | Staff numbers

The average number of persons employed by the Company (including the director) during the year, was 8 (2023 - 7).

6 | Debtors

Current | Note | 2024 £ | 2023 £
Trade debtors |  | 414,119 | 298,742
Amounts owed by related parties |  | 194,221 | 233,723
Prepayments |  | 24,819 | 10,231
Other debtors |  | 31,858 | 23,336
|  | 665,017 | 566,032

Codra Software Limited

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

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2024 £ | 2023 £
Due within one year |  |  |
Trade creditors |  | 15,685 | 5,320
Amounts owed to Group undertakings and undertakings in which the Company has a participating interest |  | 526,590 | 270,981
Taxation and social security |  | 98,306 | 84,040
Accruals and deferred income |  | 427,551 | 207,260
Other creditors |  | 1,504 | 6,274
|  | 1,069,636 | 573,875

8 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | £ | No. | £
Ordinary shares of £100 each | 1,000 | 100,000 | 1,000 | 100,000

9 | Dividends

Final dividends paid

|  | 2024 £ |  | 2023 £
Final dividend of £Nil per each Ordinary shares |  | - |  | -

10 | Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

| 2024 £ | 2023 £
Not later than one year | 22,029 | 6,954

Codra Software Limited

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

11 | Relationship between entity and parents

The parent of the smallest group in which these financial statements are consolidated is SAS Codra Holding, incorporated in France.
The address of SAS Codra Holding is:
2 Rue Christophe Colomb, immeuble Helios, 4ème étage, 91300 Massy, France.