Getting One Field for One Record

I have a simple "Lookup" table:

Code        Description
VP          Vice President
PR          President
S           Secratary
PM          Project Manager

Code is a primary Key on the table.  I use the code below to fetch the
description for a given code:

      Q:=TQuery.Create(application);
      Q.DatabaseName := 'DEMO';
      Q.SQL.Add('SELECT DESCRIPTION FROM CODE MYTABLE WHERE CODE ='VP'';

      Q.Open;
      DescriptionLabel.Caption:=Q.FieldByName('DESCRIPTION').AsString;
      Q.Free

Is there a more efficient way of doing this?  Do queries take a lot of
time to create?  Note, I do not want to use a join.  I have a form with
a bunch of codes and I want to attach their descriptions to them.  I
want to do it in the most efficient way.

Mark.