REGISTERED NUMBER: 07415775 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

CODUS IT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M D Allen

P J Smith

REGISTERED OFFICE:

Hanover House

30 - 32 Charlotte Street

Manchester

M1 4FD

REGISTERED NUMBER:

07415775 (England and Wales)

AUDITORS:

Goldwyns Limited

Statutory Auditors and Chartered Accountants

1 Nelson Mews

Southend on Sea

Essex

SS1 1AL

FIXED ASSETS

Intangible assets

4

32,763

41,259

Tangible assets

5

5,274

7,890

38,037

49,149

CURRENT ASSETS

Debtors

6

272,851

343,000

Cash at bank and in hand

48,586

122,205

321,437

465,205

CREDITORS

Amounts falling due within one year

7

109,212

359,763

NET CURRENT ASSETS

212,225

105,442

TOTAL ASSETS LESS CURRENT LIABILITIES

250,262

154,591

PROVISIONS FOR LIABILITIES

13,180

13,180

NET ASSETS

237,082

141,411

CAPITAL AND RESERVES

Called up share capital

9

400

400

Retained earnings

236,682

141,011

SHAREHOLDERS' FUNDS

237,082

141,411

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 July 2026 and were signed on its behalf by:

M D Allen - Director

1.	STATUTORY INFORMATION

Codus IT 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.

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

Development costs are being amortised on a 20% reducing balance basis.

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 reducing balance

Computer equipment

-

33% on reducing balance

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.

At the balance sheet date, the company owed £4,086 to the pension provider (year ending 30 March 2024 - £321).

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2025

and 31 December 2025

128,327

AMORTISATION

At 1 January 2025

87,068

Charge for year

8,496

At 31 December 2025

95,564

NET BOOK VALUE

At 31 December 2025

32,763

At 31 December 2024

41,259

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2025

and 31 December 2025

278

26,701

26,979

DEPRECIATION

At 1 January 2025

30

19,059

19,089

Charge for year

91

2,525

2,616

At 31 December 2025

121

21,584

21,705

NET BOOK VALUE

At 31 December 2025

157

5,117

5,274

At 31 December 2024

248

7,642

7,890

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

69,253

63,695

Amounts owed by group undertakings

101,791

201,662

Other debtors

101,807

77,643

272,851

343,000

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

11,847

15,513

Taxation and social security

4,613

189,505

Other creditors

92,752

154,745

109,212

359,763

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

-

3,958

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

400

Ordinary

1

400

400

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robert Howe BEng FCA (Senior Statutory Auditor)

for and on behalf of Goldwyns Limited

11.	CONTINGENT LIABILITIES

The company has given cross-guarantees in respect of its parent company's debts. At the balance sheet date, these liabilities totalled £14,000,000 (2024 - £9,837,500).

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 December 2025 and the period ended 31 December 2024:

2025

2024

£

£

J L Hunt and Ms J M Hunt

Balance outstanding at start of year

-

341,436

Amounts advanced

-

113,228

Amounts repaid

-

(454,664

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

Interest is charged on this loan at a rate of 2.25%.

13.	ULTIMATE PARENT COMPANY

As at the balance sheet date, the directors consider the ultimate parent company to be Managed IT Services Group Limited, a company registered in England and Wales.