Company No: 03088253 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	251,144		227,667
		251,144		227,667
Current assets
Debtors	4	39,392		25,413
Cash at bank and in hand		11,071		58,646
		50,463		84,059
Creditors: amounts falling due within one year	5	( 30,928)		( 19,851)
Net current assets		19,535		64,208
Total assets less current liabilities		270,679		291,875
Provision for liabilities		( 1,137)		( 11,877)
Net assets		269,542		279,998
Capital and reserves
Called-up share capital		2		2
Profit and loss account		269,540		279,996
Total shareholder's funds		269,542		279,998

For the financial year ending 30 November 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Launchcode Limited (registered number: 03088253) were approved and authorised for issue by the Board of Directors on 08 August 2026. They were signed on its behalf by:

H C Hammond Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Launchcode Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Bury Farm Church Street, Bovingdon, Hemel Hempstead, HP3 0LU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised over time based on the amount outstanding and the effective interest rate.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings	not depreciated
Assets under construction	not depreciated
Plant and machinery	15 % reducing balance
Fixtures and fittings	15 % reducing balance
Office equipment	15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Government grants

Government grants are recognised based on the performance model.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		2

3. Tangible assets

	Land and buildings		Assets under construc- tion		Plant and machinery		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£		£
Cost
At 01 December 2024	200,000		0		130,914		5,084		4,174		340,172
Additions	760		22,361		0		7,345		0		30,466
Disposals	0		0		( 24,215)		0		0		( 24,215)
	0		0		0		0		0		0
At 30 November 2025	200,760		22,361		106,699		12,429		4,174		346,423
Accumulated depreciation
At 01 December 2024	0		0		106,457		2,840		3,208		112,505
Charge for the financial year	0		0		3,644		1,106		145		4,895
Disposals	0		0		( 22,121)		0		0		( 22,121)
	0		0		0		0		0		0
At 30 November 2025	0		0		87,980		3,946		3,353		95,279
Net book value
At 30 November 2025	200,760		22,361		18,719		8,483		821		251,144
At 30 November 2024	200,000		0		24,457		2,244		966		227,667

4. Debtors

	2025		2024
	£		£
Trade debtors	12,017		16,848
Amounts owed by related parties	800		0
Prepayments	19,970		1,429
VAT recoverable	4,824		2,178
Other taxation and social security	0		3,662
Other debtors	1,781		1,296
	39,392		25,413

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	5,866		2,010
Amounts owed to directors	21,935		9,000
Accruals	3,000		3,591
Other creditors	127		5,250
	30,928		19,851

There are no amounts included above in respect of which any security has been given by the small entity.

6. Financial commitments

Commitments

Capital commitments are as follows:

	2025		2024
	£		£
Contracted for but not provided for:
Tangible fixed assets	12,115		0

7. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Loans from directors	21,935		9,000

Loans from directors are interest-free and there are currently no terms for repayment

Other related party transactions

	2025		2024
	£		£
Amount owed by / (to) company under common control	800		(5,250)

Loan with related company is interest-free and currently there are no terms for repayment