CODE 9 RISK MANAGEMENT LTD


Director	Daniel Gormley


Company Secretary	AMPERSAND LAW LTD


Registered Address	Monks Brook House 13 - 17 Hursley Road
	Chandlers Ford
	Eastleigh
	SO53 2FW


Registered Number	09948713 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2026

1.	Accounting policies

	Statutory information
	Code 9 Risk Management Ltd is a private company limited by shares, registered in England and Wales (09948713). Its registered office is Monks Brook House, 13 to 17 Hursley Road, Chandlers Ford, Eastleigh, Hampshire, SO53 2FW. In January 2026, the company changed its name from Code 9 Security Ltd to Code 9 Risk Management Ltd, reflecting a shift in its principal activity. The presentation currency is pounds sterling.

Statutory information

Code 9 Risk Management Ltd is a private company limited by shares, registered in England and Wales (09948713). Its registered office is Monks Brook House, 13 to 17 Hursley Road, Chandlers Ford, Eastleigh, Hampshire, SO53 2FW. 

In January 2026, the company changed its name from Code 9 Security Ltd to Code 9 Risk Management Ltd, reflecting a shift in its principal activity.

The presentation currency is pounds sterling.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland, including Section 1A Small Entities.

	Basis of preparation
	Basis of preparation: the financial statements have been prepared in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', including Section 1A 'Small Entities', and the Companies Act 2006, under the historical cost convention, rounded to the nearest pound. Turnover is the fair value of services rendered, excluding VAT, recognised as the services are performed. Tangible fixed assets are stated at cost less accumulated depreciation, which is provided at 33 per cent and 25 per cent per annum on cost, as in the previous year; assets held under hire purchase contracts are capitalised, the obligation is shown as a liability, and the interest is charged over the term. Basic financial instruments, including intercompany balances, are measured at transaction price; debts sold without recourse are derecognised when substantially all the risks and rewards of ownership pass to the buyer. The tax credit comprises current tax, including amounts receivable for losses surrendered as group relief, and deferred tax; deferred tax is recognised on timing differences at the rates expected to apply when they reverse, and deferred tax assets only to the extent that recovery is probable. The company operates a defined contribution pension scheme; contributions are charged as they fall due.

Basis of preparation

Basis of preparation: the financial statements have been prepared in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', including Section 1A 'Small Entities', and the Companies Act 2006, under the historical cost convention, rounded to the nearest pound. Turnover is the fair value of services rendered, excluding VAT, recognised as the services are performed. Tangible fixed assets are stated at cost less accumulated depreciation, which is provided at 33 per cent and 25 per cent per annum on cost, as in the previous year; assets held under hire purchase contracts are capitalised, the obligation is shown as a liability, and the interest is charged over the term. Basic financial instruments, including intercompany balances, are measured at transaction price; debts sold without recourse are derecognised when substantially all the risks and rewards of ownership pass to the buyer. The tax credit comprises current tax, including amounts receivable for losses surrendered as group relief, and deferred tax; deferred tax is recognised on timing differences at the rates expected to apply when they reverse, and deferred tax assets only to the extent that recovery is probable. The company operates a defined contribution pension scheme; contributions are charged as they fall due.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	The director, together with professional advisors, has assessed the company’s ability to continue as a going concern. The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, defined as at least 12 months from the date of approval of these financial statements. In making this assessment, the director has considered the company's current financial position, cash flow forecasts, available credit facilities, and projected trading performance, together with the support of the parent company, whose support is expected to continue. Accordingly, the going concern basis has been adopted in preparing the annual financial statements.

Going concern

The director, together with professional advisors, has assessed the company’s ability to continue as a going concern. The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, defined as at least 12 months from the date of approval of these financial statements. 

In making this assessment, the director has considered the company's current financial position, cash flow forecasts, available credit facilities, and projected trading performance, together with the support of the parent company, whose support is expected to continue. Accordingly, the going concern basis has been adopted in preparing the annual financial statements.

	Judgements and key sources of estimation uncertainty
	In applying the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily determinable from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below: 1. The realisation of the company's debt book. 2. Estimates of punitive and interest payments due.

Judgements and key sources of estimation uncertainty

In applying the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily determinable from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below:

1. The realisation of the company's debt book.
2. Estimates of punitive and interest payments due.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value-added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered, and legal title has passed. Provided the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered, and legal title has passed. Provided the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

	Revenue from rendering of services
	Revenue from the rendering of services is recognised with reference to the stage of contract completion. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is recognised only to the extent of recoverable expenses when the outcome of a contract cannot be reliably estimated.

	Operating leases
	Where substantially all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

	Employee benefits
	Employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	Borrowing costs
	Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Borrowing costs

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale.

Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

	Finance costs
	Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the exchange rate ruling on the date of the transaction. At the end of each reporting period, foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items measured at historical cost are translated at the rate ruling on the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	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 future taxable profits. Deferred tax is measured using the 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

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 future taxable profits. Deferred tax is measured using the 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Research and development
	All research costs are expensed. Costs related to the development of products are capitalised when they meet the criteria stated in FRS 102, Section 18, Intangible assets other than Goodwill. All other development expenditure is recognised as an expense in the period in which it is incurred.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Straight line (years)
	Land and buildings	50
	Plant and machinery	3
	Fixtures and fittings	3
	Vehicles	3
	Office Equipment	3

	Impairment of non-financial assets policy
	Assets which are not carried at fair value are reviewed for evidence of impairment at each reporting date. Where the asset shows indicators of impairment, its recoverable amount is estimated and compared with its carrying amount in the financial statements. Where the carrying amount is in excess of the recoverable amount, an impairment loss is recognised in profit or loss.

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Finance leases and hire purchase contracts
	Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Trade and other creditors
	Creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Related parties
	The company has taken advantage of the exemption in Section 33 of FRS 102 from disclosing transactions with wholly owned members of the Group.

2.	Average number of employees
	The average number of persons employed by the company during the year, including the director, was 8. The reduction in the number of employees reflects the change in business activities. However, we are pleased to report no loss of employment, with all employees previously engaged in private security-related activities successfully and seamlessly transferring to a new employer under the Transfer of Undertakings (Protection of Employment) Regulations.

Average number of employees

The average number of persons employed by the company during the year, including the director, was 8. 

The reduction in the number of employees reflects the change in business activities. However, we are pleased to report no loss of employment, with all employees previously engaged in private security-related activities successfully and seamlessly transferring to a new employer under the Transfer of Undertakings (Protection of Employment) Regulations.


		2026		2025
	Average number of employees during the year	8		28

3.	Deferred tax
	During the period, the company disposed of the property, plant, and equipment to which the deferred tax liability related. Consequently, the remaining deferred tax provision has been fully reversed and credited to the income statement.

4.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 April 25	134,007
	Additions	14,640
	Disposals	(148,647)
	Depreciation and impairment
	At 01 April 25	87,346
	Charge for year	18,297
	On disposals	(105,643)
	Net book value
	At 31 March 26	-
	At 31 March 25	46,660


	On 31 March 2026 all tangible fixed assets were transferred to Code 9 Group Ltd at net book value. No gain or loss arose on the transfer.

5.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	158,431	34,999
Other debtors	4,034	-
Prepayments and accrued income	3,997	4,497
Total	166,462	39,496


	Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

6.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	44,623	11,572
Bank borrowings and overdrafts	2,561	11,480
Amounts owed to related parties	24,392	-
Taxation and social security	71,611	22,995
Other creditors	14,886	1,346
Accrued liabilities and deferred income	2,631	1,501
Total	160,704	48,894


	All loans and other liabilities that were due to fall due have been settled in the current financial period. Any amounts owing to Group undertakings are unsecured, interest-free, and repayable on demand.

7.	Creditors: amounts due after one year

	2026	2025
	£	£
Bank borrowings and overdrafts	-	24,694
Total	-	24,694


	The company has no liabilities that fall due after more than one year.

8.	Directors advances, credits and guarantees
	The director’s loan account was £10,153.77 in credit, owed by the company to the director, interest-free and repayable on demand.

9.	Share capital
	The company has allotted and called up 20,000 ordinary shares of £1 each, which are fully paid.

10.	Related party transactions
	The company has taken advantage of the exemption in Section 33 of FRS 102 from disclosing transactions with wholly owned members of the Group.

11.	Controlling party
	The company's immediate and ultimate parent company is Code 9 Group Ltd. The ultimate controlling party is Daniel Gormley by virtue of his shareholding in the parent company.

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	4		-		46,660
			-		46,660
Current assets
Stocks		-		945
Debtors	5	166,462		39,496
Cash at bank and on hand		1		1,654
		166,463		42,095
Creditors amounts falling due within one year	6	(160,704)		(48,894)
Net current assets (liabilities)			5,759		(6,799)
Total assets less current liabilities			5,759		39,861
Creditors amounts falling due after one year	7		-		(24,694)
Provisions for liabilities			-		(8,865)
Net assets			5,759		6,302
Capital and reserves
Called up share capital			20,000		20,000
Profit and loss account			(14,241)		(13,698)
Shareholders' funds			5,759		6,302