REGISTERED NUMBER: 02627655 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

FOR

CODELOCKS INTERNATIONAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D M Ryan Snr

Mrs D E H Ryan

D M Ryan

C J Campbell

Mrs J Milne-Rowe

Mrs R Bayliss

SECRETARY:

Mrs D E H Ryan

REGISTERED OFFICE:

1 Carnegie Road

Newbury

Berkshire

RG14 5DJ

REGISTERED NUMBER:

02627655 (England and Wales)

ACCOUNTANTS:

Banks & Co Limited

Chartered Certified Accountants

1 Carnegie Road

Newbury

Berkshire

RG14 5DJ

BANKERS:

National Westminster Bank plc

30 Market Place

Newbury

Berkshire

RG14 5AG

FIXED ASSETS

Tangible assets

4

118,072

106,544

Investments

5

53

20,100

118,125

126,644

CURRENT ASSETS

Stocks

6

2,484,747

2,263,821

Debtors

7

2,684,112

2,901,075

Cash at bank and in hand

2,459,956

1,766,371

7,628,815

6,931,267

CREDITORS

Amounts falling due within one year

8

2,208,742

1,988,998

NET CURRENT ASSETS

5,420,073

4,942,269

TOTAL ASSETS LESS CURRENT LIABILITIES

5,538,198

5,068,913

CREDITORS

Amounts falling due after more than one year

9

-

(64,167

)

PROVISIONS FOR LIABILITIES

(19,995

)

(15,233

)

NET ASSETS

5,518,203

4,989,513

CAPITAL AND RESERVES

Called up share capital

10

94

94

Capital redemption reserve

6

6

Retained earnings

5,518,103

4,989,413

SHAREHOLDERS' FUNDS

5,518,203

4,989,513

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 22 April 2026 and were signed on its behalf by:

D M Ryan - Director

1.	STATUTORY INFORMATION

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

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

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.

Preparation of consolidated financial statements

The financial statements contain information about Codelocks International Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

Turnover

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

Tangible fixed assets

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

Leasehold improvements

-

Straight line over 6 years

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on reducing balance and 25% on cost

Motor vehicles

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Deferred taxation

Provision is made at current rates for the taxation liability deferred in respect of all material timing differences.

Currency hedging

Currency hedge contracts are initially valued at the date at which the contract is entered into and subsequently measured at fair value through the profit and loss account.

The company uses currency hedging contracts to assist with future currency purchases. The fair value is determined by reference to the spot rate at the relevant date.

Corona-virus business interruption loan scheme (cbils)

The Corona-virus Business Interruption Loan is a basic financial instrument and reported in the financial statements at amortised cost. Any finance charges are calculated at the effective rate of interest and charged to the profit and loss on an accruals basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2024 - 25 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

Plant and

and

Motor

improvements

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 August 2024

13,054

551,432

259,189

47,916

871,591

Additions

-

46,911

9,780

-

56,691

At 31 July 2025

13,054

598,343

268,969

47,916

928,282

DEPRECIATION

At 1 August 2024

11,126

521,507

231,399

1,015

765,047

Charge for year

494

19,082

13,629

11,958

45,163

At 31 July 2025

11,620

540,589

245,028

12,973

810,210

NET BOOK VALUE

At 31 July 2025

1,434

57,754

23,941

34,943

118,072

At 31 July 2024

1,928

29,925

27,790

46,901

106,544

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 August 2024

20,100

Disposals

(20,047

)

At 31 July 2025

53

NET BOOK VALUE

At 31 July 2025

53

At 31 July 2024

20,100

6.

STOCKS

2025

2024

£

£

Stocks

2,484,747

2,263,821

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

905,454

852,498

Amounts owed by group undertakings

-

163,128

Other debtors

1,778,658

1,885,449

2,684,112

2,901,075

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

-

70,000

Trade creditors

692,759

694,007

Amounts owed to group undertakings

33,762

-

Taxation and social security

493,726

470,980

Other creditors

988,495

754,011

2,208,742

1,988,998

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

-

64,167

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100,000

Ordinary shares

0.1p

94

94

11.	OTHER FINANCIAL COMMITMENTS

The company had total commitments at the balance sheet date of £565,846 (2024 - £611,141).

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end two directors owed the company £342,024 (2024 - £312,024).

No interest is being charged on the advances made to the directors during the year.

13.	RELATED PARTY DISCLOSURES

D M Ryan Snr is also a director and shareholder of Codelocks Inc, a company registered in California USA. During the year Codelocks International Limited received management fees from Codelocks Inc of £347,287 (2024 - £287,020). During the year Codelocks International Limited also purchased stock totalling £Nil (2024 - £34,331) from Codelocks Inc and sold stock totalling £842,960 (2024 - £520,497) to Codelocks Inc. Credit notes were raised to Codelocks Inc totalling £19,258 (2024 - £34,278). At the balance sheet date the balance owed to Codelocks International Limited from Codelocks Inc was £404,745 (2024 - £597,493).

Additionally, D M Ryan Snr is a director and shareholder of Codelocks EU BV, a company registered in Holland. During the year Codelocks International Limited received management fees from Codelocks EU BV of £132,109 (2024 - £141,338). During the year Codelocks International Limited also purchased stock totalling £Nil (2024 - £10,841) from Codelocks EU BV and sold stock totalling £424,906 (2024 - £444,361) to Codelocks EU BV. Credit notes were raised to Codelocks EU BV totalling £81,123 (2024 - £8,304). At the balance sheet date the balance owed from Codelocks International Limited to Codelocks EU BV was £75,778 (2024 - £53,616).

14.	SHARE-BASED PAYMENT TRANSACTIONS AND EVENTS AFTER THE YEAR END

The company has in place an Enterprise Management Incentive Scheme for the benefit of two eligible employees and will run until 19 December 2028.