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Registration number: 06837456

Difuria Contractors Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Difuria Contractors Limited

(Registration number: 06837456)

Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

3

4,196

5,466

Tangible assets

4

944,652

843,464

 

948,848

848,930

Current assets

 

Stocks

5,211

2,835

Debtors

5

1,100,264

1,055,229

Cash at bank and in hand

 

311,353

229,854

 

1,416,828

1,287,918

Creditors: Amounts falling due within one year

6

(814,619)

(639,811)

Net current assets

 

602,209

648,107

Total assets less current liabilities

 

1,551,057

1,497,037

Creditors: Amounts falling due after more than one year

6

(414,794)

(538,555)

Provisions for liabilities

(229,355)

(203,676)

Net assets

 

906,908

754,806

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

906,808

754,706

Shareholders' funds

 

906,908

754,806

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Difuria Contractors Limited

(Registration number: 06837456)

Balance Sheet as at 31 March 2024

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 26 March 2025 and signed on its behalf by:
 

.........................................

Mr S Difuria
Director

 

Difuria Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

Accounting policies

Difuria Contractors Limited is a private company, limited by shares, domiciled in England and Wales, company number 06837456. The registered office is at Paddock Farm, Wood Lane, Beckingham, Doncaster, South Yorkshire, DN10 4NR.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

These financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Revenue recognition

Turnover compromises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/ value added tax, returns, rebates and discounts.

Government grants

Grants that do not impose specified future performance-related conditions are recognised in income when the grant proceeds are received or receivable. Grants that impose specified future performance-related conditions are recognised in income only when the performance-related conditions are met. Grants received before the revenue recognition criteria are satisfied are recognised as a liability.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Difuria Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax shall be recognised in respect of all timing differences at the reporting date, except as otherwise required by FRS102. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that 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 income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Unrelieved tax losses and other deferred tax assets shall be 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% Straight line

Motor vehicles

25% Straight line

Plant and machinery

20% Straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% straight line

Other intangible assets

20% straight line

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

 

Difuria Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Statement of Income and Retained Earnings and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2023 - 16).

 

Difuria Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Intangible assets

Goodwill
 £

Other intangible assets
 £

Total
£

Cost

At 1 April 2023

5,000

1,350

6,350

At 31 March 2024

5,000

1,350

6,350

Amortisation

At 1 April 2023

833

51

884

Amortisation charge

1,000

270

1,270

At 31 March 2024

1,833

321

2,154

Carrying amount

At 31 March 2024

3,167

1,029

4,196

At 31 March 2023

4,167

1,299

5,466

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost

At 1 April 2023

1,410,278

13,176

460,141

1,883,595

Additions

367,639

933

37,603

406,175

At 31 March 2024

1,777,917

14,109

497,744

2,289,770

Depreciation

At 1 April 2023

870,128

9,301

160,702

1,040,131

Charge for the year

205,880

965

98,142

304,987

At 31 March 2024

1,076,008

10,266

258,844

1,345,118

Carrying amount

At 31 March 2024

701,909

3,843

238,900

944,652

At 31 March 2023

540,150

3,875

299,439

843,464

 

Difuria Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Debtors

2024
 £

2023
 £

Trade debtors

515,922

548,818

Amounts owed by related parties

424,420

324,420

Other debtors

113,900

148,335

Prepayments

46,022

33,656

1,100,264

1,055,229

6

Creditors

Creditors: amounts falling due within one year

2024
 £

2023
 £

Due within one year

Bank borrowings

52,231

52,231

Trade creditors

407,408

268,038

HP and finance lease liabilities

212,578

242,011

Directors' loan account

412

1,431

Social security and other taxes

76,270

30,835

Outstanding defined contribution pension costs

-

13,760

Other payables

322

7,883

Accrued expenses

11,080

9,426

Corporation tax liability

54,318

14,196

814,619

639,811

Due after one year

Bank borrowings

71,442

124,066

HP and finance lease liabilities

343,352

414,489

414,794

538,555

HP and finance lease liabilities are secured on the assets concerned.
Bank borrowings are secured by a fixed and floating charge over the company's assets.

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £4,485 (2023 - £Nil).