Acorah Software Products - Accounts Production 16.1.300 false true true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 04095219 Mr C J McCormack Mr G R McCormack iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04095219 2023-07-31 04095219 2024-07-31 04095219 2023-08-01 2024-07-31 04095219 frs-core:CurrentFinancialInstruments 2024-07-31 04095219 frs-core:Non-currentFinancialInstruments 2024-07-31 04095219 frs-core:BetweenOneFiveYears 2024-07-31 04095219 frs-core:ComputerEquipment 2024-07-31 04095219 frs-core:ComputerEquipment 2023-08-01 2024-07-31 04095219 frs-core:ComputerEquipment 2023-07-31 04095219 frs-core:FurnitureFittings 2024-07-31 04095219 frs-core:FurnitureFittings 2023-08-01 2024-07-31 04095219 frs-core:FurnitureFittings 2023-07-31 04095219 frs-core:MoreThanFiveYears 2024-07-31 04095219 frs-core:PlantMachinery 2024-07-31 04095219 frs-core:PlantMachinery 2023-08-01 2024-07-31 04095219 frs-core:PlantMachinery 2023-07-31 04095219 frs-core:WithinOneYear 2024-07-31 04095219 frs-core:ShareCapital 2024-07-31 04095219 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 04095219 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 04095219 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 04095219 frs-bus:SmallEntities 2023-08-01 2024-07-31 04095219 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 04095219 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 04095219 frs-bus:Director1 2023-08-01 2024-07-31 04095219 frs-bus:Director2 2023-08-01 2024-07-31 04095219 frs-countries:EnglandWales 2023-08-01 2024-07-31 04095219 2022-07-31 04095219 2023-07-31 04095219 2022-08-01 2023-07-31 04095219 frs-core:CurrentFinancialInstruments 2023-07-31 04095219 frs-core:Non-currentFinancialInstruments 2023-07-31 04095219 frs-core:BetweenOneFiveYears 2023-07-31 04095219 frs-core:MoreThanFiveYears 2023-07-31 04095219 frs-core:WithinOneYear 2023-07-31 04095219 frs-core:ShareCapital 2023-07-31 04095219 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 04095219
M Three Contracts Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04095219
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,093 10,059
4,093 10,059
CURRENT ASSETS
Debtors 5 188,181 198,213
Cash at bank and in hand 10,867 58,386
199,048 256,599
Creditors: Amounts Falling Due Within One Year 6 (261,301 ) (321,479 )
NET CURRENT ASSETS (LIABILITIES) (62,253 ) (64,880 )
TOTAL ASSETS LESS CURRENT LIABILITIES (58,160 ) (54,821 )
Creditors: Amounts Falling Due After More Than One Year 7 (29,155 ) (32,931 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (777 ) (1,912 )
NET LIABILITIES (88,092 ) (89,664 )
CAPITAL AND RESERVES
Called up share capital 10 90 90
Profit and Loss Account (88,182 ) (89,754 )
SHAREHOLDERS' FUNDS (88,092) (89,664)
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For the year ending 31 July 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 C J McCormack
Director
6 February 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
M Three Contracts Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04095219 . The registered office is Hanover Buildings, 11-13 Hanover Street, Liverpool, Merseyside, L1 3DN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
2.2. Going Concern Disclosure
The company is able to meet its day to day working capital requirements through the support of the directors. Therefore the directors consider it appropriate to prepare financial statements on the going concern basis.
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 assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent 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 and machinery 20% straight line
Fixtures and fittings 20% straight line
Computer equipment 20% straight line
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. Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
2.7. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 12)
13 12
4. Tangible Assets
Plant and machinery Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
As at 1 August 2023 99,674 3,555 822 104,051
As at 31 July 2024 99,674 3,555 822 104,051
Depreciation
As at 1 August 2023 89,615 3,555 822 93,992
Provided during the period 5,966 - - 5,966
As at 31 July 2024 95,581 3,555 822 99,958
Net Book Value
As at 31 July 2024 4,093 - - 4,093
As at 1 August 2023 10,059 - - 10,059
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 15,298 100,785
Prepayments and accrued income 6,586 5,333
Other debtors 166,297 92,095
188,181 198,213
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 776 4,974
Trade creditors 70,685 135,999
Bank loans and overdrafts 3,478 5,519
Other taxes and social security 35,359 77,986
VAT 100,671 75,437
Net wages 13,447 -
Other creditors 25,116 10,990
Accruals and deferred income 1,775 10,554
Directors' loan accounts 9,994 20
261,301 321,479
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 776
Other loans 29,155 32,155
29,155 32,931
8. Secured Creditors
Included in the above is a loan obtained under the government bounceback loan scheme and is therefore 100% secured by the government with no charge over the assets of the company.
Also included in the above are HP liabilities that are secured against the assets that they relate.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 776 5,750
Bank loans and overdrafts 32,633 37,674
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 776 4,974
Later than one year and not later than five years - 776
776 5,750
776 5,750
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 90 90
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11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 33,750 8,000
Later than one year and not later than five years 180,000 2,000
Later than five years 11,250 -
225,000 10,000
12. Directors Advances, Credits and Guarantees
No director received advances, credits or guarantees during the current or previous accounting periods.
13. Related Party Transactions
The following related party transactions were undertaken during the year:
During the period the directors introduced capital of £10,624 (2023: £Nil) and withdrew amounts of £650 (2023: £Nil). At the
balance sheet date the amount payable to the directors totalled £9,994 (2023: £20).
Dividends were paid to the directors in respect of their shareholdings totalling £Nil (2023: £Nil).
The aggregate remuneration paid to key management personnel for the year was £177,000 (2023: £168,000).
No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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