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Registered number: 11890858
364 Contractors Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
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
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 206,101 150,631
206,101 150,631
CURRENT ASSETS
Debtors 5 175,175 88,847
Cash at bank and in hand 162,790 146,361
337,965 235,208
Creditors: Amounts Falling Due Within One Year 6 (89,517 ) (73,577 )
NET CURRENT ASSETS (LIABILITIES) 248,448 161,631
TOTAL ASSETS LESS CURRENT LIABILITIES 454,549 312,262
Creditors: Amounts Falling Due After More Than One Year 7 (38,084 ) (21,481 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (39,536 ) (30,575 )
NET ASSETS 376,929 260,206
CAPITAL AND RESERVES
Called up share capital 10 50 50
Profit and Loss Account 376,879 260,156
SHAREHOLDERS' FUNDS 376,929 260,206
Page 1
Page 2
For the year ending 31 March 2025 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
16 June 2025
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 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 and 1 April 2024 50 260,156 260,206
Profit for the year and total comprehensive income - 226,723 226,723
Dividends paid - (110,000) (110,000)
As at 31 March 2025 50 376,879 376,929
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 (2024: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2024 105,988 114,902 790 221,680
Additions 88,728 7,500 - 96,228
As at 31 March 2025 194,716 122,402 790 317,908
Depreciation
As at 1 April 2024 41,491 29,087 471 71,049
Provided during the period 16,620 23,980 158 40,758
As at 31 March 2025 58,111 53,067 629 111,807
Net Book Value
As at 31 March 2025 136,605 69,335 161 206,101
As at 1 April 2024 64,497 85,815 319 150,631
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2025 2024
£ £
Plant & Machinery 75,159 8,157
Motor Vehicles 9,271 19,811
84,430 27,968
Page 5
Page 6
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 80,276 58,223
Prepayments and accrued income 14,366 2,593
CIS reclaimable 46,475 17,291
VAT 34,058 10,740
175,175 88,847
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 14,267 7,218
Trade creditors 8,893 10,008
Corporation tax 61,096 17,620
Directors' loan accounts 5,261 38,731
89,517 73,577
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 38,084 21,481
8. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 15,900 9,023
Later than one year and not later than five years 39,622 23,958
55,522 32,981
Less: Finance charges allocated to future periods 3,171 4,282
52,351 28,699
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2025 2024
£ £
Other timing differences 39,536 30,575
10. Share Capital
2025 2024
£ £
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 2024 Amounts advanced Amounts repaid Amounts written off As at 31 March 2025
£ £ £ £ £
Mr Billy Harmer 19,382 19,964 2,518 - 1,936
Mr Darren Harrild 19,348 18,542 2,518 - 3,324
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.
Page 7