Codefine Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 01331553 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2021 TO 30 MARCH 2022

FOR

CODEFINE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Grunzweig

Mrs K Grunzweig

SECRETARY:

Mrs K Grunzweig

REGISTERED OFFICE:

115 Craven Park Road

South Tottenham

London

N15 6BL

REGISTERED NUMBER:

01331553 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Investment property

4

1,200,000

1,200,000

CURRENT ASSETS

Debtors

5

23,299

27,707

Cash at bank

5,917

3,534

29,216

31,241

CREDITORS

Amounts falling due within one year

6

(9,084

)

(15,574

)

NET CURRENT ASSETS

20,132

15,667

TOTAL ASSETS LESS CURRENT LIABILITIES

1,220,132

1,215,667

CREDITORS

Amounts falling due after more than one year

7

(13,000

)

(15,000

)

NET ASSETS

1,207,132

1,200,667

CAPITAL AND RESERVES

Called up share capital

9

2

2

Revaluation reserve

10

1,184,800

1,184,800

Retained earnings

10

22,330

15,865

SHAREHOLDERS' FUNDS

1,207,132

1,200,667

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 March 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 June 2023 and were signed on its behalf by:

J Grunzweig - Director

1.	STATUTORY INFORMATION

Codefine 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents net rent receivable, excluding value added tax.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2021 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2021

and 30 March 2022

1,200,000

NET BOOK VALUE

At 30 March 2022

1,200,000

At 31 March 2021

1,200,000

Fair value at 30 March 2022 is represented by:

£

Valuation in 2017

15,200

Cost

1,184,800

1,200,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.3.22

31.3.21

£

£

Trade debtors

8,299

12,707

Other debtors

15,000

15,000

23,299

27,707

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.3.22

31.3.21

£

£

Taxation and social security

6,331

6,779

Other creditors

2,753

8,795

9,084

15,574

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.3.22

31.3.21

£

£

Bank loans

13,000

15,000

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.3.22

31.3.21

£

£

Bank loans

13,000

15,000

9.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

30.3.22

31.3.21

value:

£

£

2

Share capital 1

£1

2

2

10.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 April 2021

15,865

1,184,800

1,200,665

Profit for the period

16,465

16,465

Dividends

(10,000

)

(10,000

)

At 30 March 2022

22,330

1,184,800

1,207,130

11.	ULTIMATE CONTROLLING PARTY

The controlling party is J Grunzweig.