Codal Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 12126294

CODAL LTD

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 December 2025

CODAL LTD

STATEMENT OF FINANCIAL POSITION

31 December 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	41,080	47,314

Current assets

Debtors	6	154,164	148,591
Cash at bank and in hand		10,703	51,142
		-----------	-----------
		164,867	199,733

Creditors: amounts falling due within one year	7	5,975	69,564
		-----------	-----------
Net current assets		158,892	130,169
		-----------	-----------
Total assets less current liabilities		199,972	177,483

Provisions	7,805	11,829
	-----------	-----------
Net assets	192,167	165,654
	-----------	-----------

CODAL LTD

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2025

	2025	2024
Note	£	£

Capital and reserves

Called up share capital	1	1
Profit and loss account	192,166	165,653
	-----------	-----------
Shareholders funds	192,167	165,654
	-----------	-----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 7 September 2026 , and are signed on behalf of the board by:

M Gierut

Director

Company registration number: 12126294

CODAL LTD

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Mosaic, Silver Street, Codal, Lincoln, LN2 1DY, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax (where applicable).

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	20% straight line
Equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 21 (2024: 19 ).

5. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 January 2025	49,268	38,215	87,483
Additions	–	12,514	12,514
	---------	---------	---------
At 31 December 2025	49,268	50,729	99,997
	---------	---------	---------
Depreciation
At 1 January 2025	15,256	24,913	40,169
Charge for the year	9,854	8,894	18,748
	---------	---------	---------
At 31 December 2025	25,110	33,807	58,917
	---------	---------	---------
Carrying amount
At 31 December 2025	24,158	16,922	41,080
	---------	---------	---------
At 31 December 2024	34,012	13,302	47,314
	---------	---------	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	94,760	62,214
Other debtors	59,404	86,377
	-----------	-----------
	154,164	148,591
	-----------	-----------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	504	3,408
Corporation tax	6,139	16,528
Social security and other taxes	–	49,183
Other creditors	( 668)	445
	--------	---------
	5,975	69,564
	--------	---------

8. Related party transactions

No other transactions with related parties subsisted during the year, such as are required to be disclosed under FRS102.

9. Controlling party

The company is a 100% subsidiary of Codal Holdings LLC, an entity registered in the US State of Illinois. The ultimate controlling party is Codal Inc, a company registered in the US State of Illinois.