Populate column based on next, blanks inbetween. frustration.

[zuki01]

Hi everybody.
I’ve looked through the posts and there are some very similar but nothing I can use. I’m pretty good with VBA if there is a VBA solution to this frustrating nightmare problem!!!
I have 2 columns of data. One is sporadic with a code in every cell or other cell or with a few blank gaps in-between, but in clusters. E.g.
Code1
*blank cell*
Code 1
Code 1
Code 1 *New Code*
Code 2
Code 2
*Blank Cell*
*Blank Cell*
Code 2
Code 3
Code 3 *New Code*
Code 4
Code 4
*Blank Cell*


In the column next to it the formulae works out when to code should change based on a data page elsewhere.
I have a blank column which I want a formula to look at the New Code column and fill in every cell with the code until it says new code, then fill in with the next one.
Any ideas, I’ve tried Ifs and tried to put an index column where it looks up blanks but to no avail. 