Codis Limited

(Registration number: 02819582) (England and Wales)
Balance Sheet as at 31 May 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	338,962	339,603
Tangible assets	5	34,724	50,821
		373,686	390,424
Current assets
Debtors	6	59,405	46,490
Cash at bank and in hand		28,170	55,153
		87,575	101,643
Creditors: Amounts falling due within one year	7	(157,456)	(138,554)
Net current liabilities		(69,881)	(36,911)
Total assets less current liabilities		303,805	353,513
Creditors: Amounts falling due after more than one year	7	(17,979)	(59,810)
Net assets		285,826	293,703
Capital and reserves
Called up share capital	8	176	176
Retained earnings		285,650	293,527
Shareholders' funds		285,826	293,703

For the financial year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

The financial statements were approved and authorised for issue by the Board on 4 December 2025 and signed on its behalf by:
 

......................................... Mr M Nischal Director

Codis Limited

Notes to the Financial Statements for the Year Ended 31 May 2025

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:
Hygeia Building
Rear Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE
United Kingdom

The principal place of business is:
Second Floor
The Twenty One Building
21 Pinner Road
Harrow
Middlesex
HA1 4ES
United Kingdom

These financial statements were authorised for issue by the Board on 4 December 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.

The functional and presentational currency is GBP Sterling (£), being the currency of the primary economic environment in which the company operates in. The amounts are presented rounded to the nearest pound.

Going concern

At the time of approving these financial statements, the directors are confident that the company has adequate resources to continue in operational existence for the foreseeable future and are willing to provide the necessary financial support as necessary and accordingly these financial statements have been prepared on a going concern basis.

Codis Limited

Notes to the Financial Statements for the Year Ended 31 May 2025 (continued)

2	Accounting policies (continued)

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 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Improvements to leasehold property	Over the term of lease
Fixtures and fittings	25% p.a. on Reducing balance basis
Computer Equipment & software	33% p.a. on Reducing balance basis
Motor vehicles	25% p.a. on Reducing balance basis

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Software development	20% on cost

Codis Limited

Notes to the Financial Statements for the Year Ended 31 May 2025 (continued)

2	Accounting policies (continued)

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Codis Limited

Notes to the Financial Statements for the Year Ended 31 May 2025 (continued)

2	Accounting policies (continued)

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans from related parties.

 Recognition and measurement
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other debtors and creditors, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Debt instruments that are payable or receivable within one year, typically trade creditors or debtors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms of financed at a rate of interest that is not a market rate or in case of an out-right short term loan not at a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

 Impairment
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 if recognised in the Profit and loss account.

For financial assets measured as amortised cost, the impairment loss is measured as the difference between an asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate. If a financial asset has a variable interest rate, the discounted rate for measuring any impairment loss is the current effective interest rate determined under the contract.

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.

3	Staff numbers

The average monthly number of persons employed by the company (including directors) during the year, was 11 (2024: 12).

Codis Limited

Notes to the Financial Statements for the Year Ended 31 May 2025 (continued)

4	Intangible assets

	Development costs  £
Cost or valuation
At 1 June 2024	2,053,577
Additions internally developed	160,513
At 31 May 2025	2,214,090
Amortisation
At 1 June 2024	1,713,974
Amortisation charge	161,154
At 31 May 2025	1,875,128
Carrying amount
At 31 May 2025	338,962
At 31 May 2024	339,603

Codis Limited

Notes to the Financial Statements for the Year Ended 31 May 2025 (continued)

6

Debtors

	2025 £	2024 £
Trade debtors	42,782	29,166
Other debtors	2,058	2,058
Prepayments	14,565	15,266
	59,405	46,490

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Bank loans and overdrafts	44,478	44,114
Trade creditors	31,698	27,461
Taxation and social security	50,963	31,315
Other creditors	1,013	1,063
Accrued expenses	5,925	6,440
Directors current account	23,379	28,161
	157,456	138,554
Due after one year
Loans and borrowings	17,979	59,810

Creditors include bank loans and overdrafts and net obligations under finance lease contracts which are secured of £44,478 (2024: £44,144).

Creditors: amounts falling due after more than one year

	2025 £	2024 £
Due after one year
Loans and borrowings	17,979	59,810