Codco Limited - Filleted accounts


CODCO LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JANUARY 2026



































Company Registration Number: 11151410

CODCO LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026


CONTENTS									PAGES



Company information									1

Balance sheet									2 to 3

Notes to the financial statements									4 to 8

CODCO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2026


DIRECTORS

Sir C G W Codrington
H J Codrington
B Codrington


SECRETARY

The company does not have an appointed secretary


REGISTERED OFFICE

Springfield House
Fordwells
Witney
Oxon
OX29 9PP


COMPANY REGISTRATION NUMBER

11151410 England and Wales

CODCO LIMITED

BALANCE SHEET
AS AT 31 JANUARY 2026


	Notes	2026		2025
		£		£

FIXED ASSETS
Investments	5		1,000,000		1,000,000

CURRENT ASSETS
Cash at bank and in hand		21,449		20,553

CREDITORS: Amounts falling due within one year	6	665,504		668,971
CREDITORS: Amounts falling due within one year


NET CURRENT LIABILITIES			(644,055)		(648,418)


TOTAL ASSETS LESS CURRENT LIABILITIES			355,945		351,582

CREDITORS: Amounts falling due after more than one year	7		300,000		300,000
CREDITORS: Amounts falling due after more than one year

Provisions for liabilities and charges			7,806		7,806


NET ASSETS			48,139		43,776


CAPITAL AND RESERVES
Called up share capital			200		200
Distributable profit and loss account			14,389		10,026
Non distributable profit and loss account			33,550		33,550


SHAREHOLDERS' FUNDS			48,139		43,776

CODCO LIMITED

BALANCE SHEET
AS AT 31 JANUARY 2026


These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

For the financial year ended 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

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.

As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.


Signed on behalf of the board of directors




Sir C G W Codrington						B Codrington
Director						Director

Date approved by the board: 17 May 2026

CODCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026


1	GENERAL INFORMATION

	Codco Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:

	Springfield House
	Fordwells
	Witney
	Oxon
	OX29 9PP

	The financial statements are presented in Sterling, which is the functional currency of the company.

2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

	Basis of preparation of financial statements

	These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.

	Going concern

	The accounts have been drawn up on the going concern basis. The company owes the directors £659,814, which could be required for repayment without notice. The company is therefore dependent upon the continued support of the directors. The directors do not consider their own support likely to be withdrawn.

	If the going concern basis was not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for additional liabilities that might arise and to reclassify fixed assets as current assets.


	Revenue recognition

	Turnover is measured at the fair value of consideration received or receivable and represents the rent receivable.

	The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.


	Investment properties

	Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs.

	Subsequently, investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss account in the period in which they arise.

CODCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026

2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Financial Instruments

	A financial asset or financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

	The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

	Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through the profit and loss account.

	Basic financial assets and financial liabilities are initially recognised at transaction price and measured at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. They are subsequently carried at their amortised cost using the effective interest rate method, less any provision for impairment. If the effect of the time value of money is immaterial, they are measured at cost less impairment.

	Basic financial assets and liabilities which are measured at cost or amortised cost are reviewed for objective impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the profit and loss account immediately.

Any reversals of impairment are recognised in the profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset or liability which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.


	Financing transactions are measured at the present value of the future receipts discounted at a market rate of interest. They are subsequently measured at amortised costs using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

	Debtors

	Short term debtors are measured at transaction price, less any impairment.

	Creditors

	Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.

CODCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Taxation

	Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.

	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. 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 taxable profits.

	Deferred tax is measured using 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.

	Deferred tax relating to land and investment properties that is measured at fair value is measured using the tax rates and allowances that apply to the sale of the asset.


	Current and deferred tax assets and liabilities are not discounted.

3	CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

	The directors have made key assumptions in determination of the fair value of an investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset.

4	EMPLOYEES

	The average number of persons employed by the company (including directors) during the year was:

		2026	2025
	Average number of employees	3	3

CODCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026


5	FIXED ASSET INVESTMENTS
			Investment property
			£
	Cost
	At 1 February 2025		1,000,000


	At 31 January 2026		1,000,000


	Net book value
	At 1 February 2025		1,000,000


	At 31 January 2026		1,000,000


	In the opinion of the directors, the investment property has been stated at fair value.

		2026	2025
		£	£
	Historical cost	958,644	958,644


		958,644	958,644


	The investment property has been revalued as follows:
			£
	Original cost		958,644
	Revaluation in 2022		26,426
	Revaluation in 2023		14,660
	Revaluation in 2024		270


			1,000,000


6	CREDITORS: Amounts falling due within one year
		2026	2025
		£	£
	Trade creditors	59	4,834
	Taxation and social security	2,067	1,487
	Accruals and deferred income	1,903	1,500
	Other creditors	661,475	661,150


		665,504	668,971

CODCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026


7	CREDITORS: Amounts falling due after more than one year
			2026	2025
			£	£
	Other creditors		300,000	300,000


8	SECURED DEBTS

	The company has a loan whereby the lender holds a legal charge over the investment property. Interest is charged at 6.5% per annum and the loan is repayable within 5 years.

9	RELATED PARTY TRANSACTIONS

	During the year, the following transactions with related parties took place:

	Advances from directors:
	Director		2026	2025
			£	£
	Sir C G W Codrington	The director has made advances to the company which are repayable on demand. No interest has been charged on these advances. At the year end, the company owed the director the following amount:	216,684	216,684


	B Codrington	The director has made advances to the company which are repayable on demand. No interest has been charged on these advances. At the year end, the company owed the director the following amount:	401,362	401,362


	H J Codrington	The director has made advances to the company which are repayable on demand. No interest has been charged on these advances. At the year end, the company owed the director the following amount:	41,768	41,768


	Advances to company:
	Close family member of director		2026	2025
			£	£
	S C Harris	The family member has made an advance to the company which has a repayment date of 5 years from the date that the advance was made. Interest has been charged at 6.5% per annum. At the year end, the company owed the family member the following amount:	300,000	301,336