REGISTERED NUMBER: SC655641 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Codek Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs R Lundgren

T Williams

REGISTERED OFFICE:

40 North Castle Street

Edinburgh

EH2 3BN

REGISTERED NUMBER:

SC655641 (Scotland)

ACCOUNTANTS:

One Accounting Ltd

Chartered Management Accountants

Drumsheugh Toll

2 Belford Road

Edinburgh

Midlothian

EH4 3BL

FIXED ASSETS

Intangible assets

4

58,545

65,402

Tangible assets

5

10,390

15,332

68,935

80,734

CURRENT ASSETS

Stocks

157,986

120,000

Debtors

6

37,816

2,108

Cash at bank

166,129

56,228

361,931

178,336

CREDITORS

Amounts falling due within one year

7

203,145

247,818

NET CURRENT ASSETS/(LIABILITIES)

158,786

(69,482

)

TOTAL ASSETS LESS CURRENT LIABILITIES

227,721

11,252

CREDITORS

Amounts falling due after more than one year

8

(1,150,000

)

(700,000

)

PROVISIONS FOR LIABILITIES

(2,598

)

(3,833

)

NET LIABILITIES

(924,877

)

(692,581

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(924,879

)

(692,583

)

(924,877

)

(692,581

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 30 October 2025 and were signed on its behalf by:

T Williams - Director

1.	STATUTORY INFORMATION

Codek Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Development Costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

33% on cost

Computer equipments

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Going concern

At the balance sheet date the Company's liabilities exceed its assets by £924,877 (2024 : £692,581). The Company meets its day to day working capital requirements from daily takings, loans from the directors and external loans. The financial statements were prepared on a going concern basis, which assumes that the Company will continue in operational existence for the foreseeable future. The Directors believe that the financial statements should be prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

and 31 March 2025

68,571

AMORTISATION

At 1 April 2024

3,169

Charge for year

6,857

At 31 March 2025

10,026

NET BOOK VALUE

At 31 March 2025

58,545

At 31 March 2024

65,402

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipments

Totals

£

£

£

£

COST

At 1 April 2024

14,473

393

8,549

23,415

Additions

-

-

2,614

2,614

At 31 March 2025

14,473

393

11,163

26,029

DEPRECIATION

At 1 April 2024

3,144

164

4,775

8,083

Charge for year

4,824

130

2,602

7,556

At 31 March 2025

7,968

294

7,377

15,639

NET BOOK VALUE

At 31 March 2025

6,505

99

3,786

10,390

At 31 March 2024

11,329

229

3,774

15,332

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

27,984

286

Other debtors

5,551

-

Prepayments and accrued income

4,281

1,822

37,816

2,108

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

7,724

40,295

Social security and other taxes

4,990

2,784

VAT

5,099

911

Other creditors

731

20,000

Directors' current accounts

183,654

182,204

Accrued expenses

947

1,624

203,145

247,818

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Other loans - 2-5 years

1,150,000

700,000

9.	RELATED PARTY DISCLOSURES

At the 31st March 2025 the company had an outstanding loan due to the directors of £183,654 (2024 £182,204). This loan has no formal repayment terms and no interest is charged.

Included in other creditors is an outstanding loan from a family member of the director. This loan totals £300,000 and may be convertible in future.