Acorah Software Products - Accounts Production 16.0.110 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 11890858 Mr Billy Harmer Mr Darren Harrild Mrs Emma Harmer B Harmer & D Harrild true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11890858 2023-03-31 11890858 2024-03-31 11890858 2023-04-01 2024-03-31 11890858 frs-core:CurrentFinancialInstruments 2024-03-31 11890858 frs-core:Non-currentFinancialInstruments 2024-03-31 11890858 frs-core:BetweenOneFiveYears 2024-03-31 11890858 frs-core:ComputerEquipment 2024-03-31 11890858 frs-core:ComputerEquipment 2023-04-01 2024-03-31 11890858 frs-core:ComputerEquipment 2023-03-31 11890858 frs-core:MotorVehicles 2024-03-31 11890858 frs-core:MotorVehicles 2023-04-01 2024-03-31 11890858 frs-core:MotorVehicles 2023-03-31 11890858 frs-core:PlantMachinery 2024-03-31 11890858 frs-core:PlantMachinery 2023-04-01 2024-03-31 11890858 frs-core:PlantMachinery 2023-03-31 11890858 frs-core:WithinOneYear 2024-03-31 11890858 frs-core:ShareCapital 2024-03-31 11890858 frs-core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 11890858 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 11890858 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11890858 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 11890858 frs-bus:SmallEntities 2023-04-01 2024-03-31 11890858 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11890858 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11890858 1 2023-04-01 2024-03-31 11890858 frs-bus:Director1 2023-04-01 2024-03-31 11890858 frs-bus:Director1 2023-03-31 11890858 frs-bus:Director1 2024-03-31 11890858 frs-bus:Director2 2023-04-01 2024-03-31 11890858 frs-bus:Director2 2023-03-31 11890858 frs-bus:Director2 2024-03-31 11890858 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 11890858 frs-countries:EnglandWales 2023-04-01 2024-03-31 11890858 2022-03-31 11890858 2023-03-31 11890858 2022-04-01 2023-03-31 11890858 frs-core:CurrentFinancialInstruments 2023-03-31 11890858 frs-core:Non-currentFinancialInstruments 2023-03-31 11890858 frs-core:BetweenOneFiveYears 2023-03-31 11890858 frs-core:MotorVehicles 2022-04-01 2023-03-31 11890858 frs-core:PlantMachinery 2022-04-01 2023-03-31 11890858 frs-core:WithinOneYear 2023-03-31 11890858 frs-core:ShareCapital 2022-03-31 11890858 frs-core:ShareCapital 2023-03-31 11890858 frs-core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 11890858 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2022-03-31 11890858 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 11890858
364 Contractors Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Brisan Accountancy Ltd
Canada House, First Floor, 20/20 Business Park
Maidstone
Kent
ME16 0LS
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—7
Page 1
Balance Sheet
Registered number: 11890858
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 150,631 150,803
150,631 150,803
CURRENT ASSETS
Debtors 5 88,847 107,939
Cash at bank and in hand 146,361 147,669
235,208 255,608
Creditors: Amounts Falling Due Within One Year 6 (73,577 ) (102,864 )
NET CURRENT ASSETS (LIABILITIES) 161,631 152,744
TOTAL ASSETS LESS CURRENT LIABILITIES 312,262 303,547
Creditors: Amounts Falling Due After More Than One Year 7 (21,481 ) (27,171 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (30,575 ) (29,728 )
NET ASSETS 260,206 246,648
CAPITAL AND RESERVES
Called up share capital 10 50 50
Profit and Loss Account 260,156 246,598
SHAREHOLDERS' FUNDS 260,206 246,648
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Billy Harmer
Director
Mr Darren Harrild
Director
15 October 2024
The notes on pages 4 to 7 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 April 2022 50 117,379 117,429
Profit for the year and total comprehensive income - 187,719 187,719
Dividends paid - (58,500) (58,500)
As at 31 March 2023 and 1 April 2023 50 246,598 246,648
Profit for the year and total comprehensive income - 58,558 58,558
Dividends paid - (45,000) (45,000)
As at 31 March 2024 50 260,156 260,206
Page 3
Page 4
Notes to the Financial Statements
1. General Information
364 Contractors Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11890858 . The registered office is 19 Cobden Road, Chatham, ME4 5HW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. 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 only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on cost
Motor Vehicles 25% on reducing balance
Computer Equipment 25% on cost
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. 
Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. 
Assets acquired under hire purchase contracts are depreciated over their useful lives. 
Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 101,835 87,593 790 190,218
Additions 4,153 31,209 - 35,362
Disposals - (3,900 ) - (3,900 )
As at 31 March 2024 105,988 114,902 790 221,680
Depreciation
As at 1 April 2023 26,182 12,920 313 39,415
Provided during the period 15,309 18,296 158 33,763
Disposals - (2,129 ) - (2,129 )
As at 31 March 2024 41,491 29,087 471 71,049
Net Book Value
As at 31 March 2024 64,497 85,815 319 150,631
As at 1 April 2023 75,653 74,673 477 150,803
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Plant & Machinery 8,157 10,197
Motor Vehicles 19,811 26,959
27,968 37,156
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Page 6
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 58,223 30,011
Prepayments and accrued income 2,593 2,309
CIS reclaimable 17,291 60,046
VAT 10,740 15,573
88,847 107,939
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 7,218 8,368
Trade creditors 10,008 9,512
Corporation tax 17,620 25,638
Directors' loan accounts 38,731 59,346
73,577 102,864
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 21,481 27,171
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 9,023 8,368
Later than one year and not later than five years 23,958 27,171
32,981 35,539
Less: Finance charges allocated to future periods 4,282 -
28,699 35,539
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 30,575 29,728
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 50 50
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11. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans due to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Billy Harmer 29,690 10,969 661 - 19,382
Mr Darren Harrild 29,656 10,969 661 - 19,348
The above loan is unsecured, interest free and repayable on demand. The amount ranks equally with  other unsecured creditors of the company.
12. Ultimate Controlling Party
The company's ultimate controlling party is B Harmer & D Harrild by virtue of their equal ownership of 100% of the issued share capital in the company.
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