Silverfin false false 30/06/2023 01/07/2022 30/06/2023 Mr D Nelson 07/06/2018 Mrs L Nelson 07/06/2018 13 November 2023 The principal activity of the company continued to be that of building construction and groundwork of domestic buildings. SC599365 2023-06-30 SC599365 bus:Director1 2023-06-30 SC599365 bus:Director2 2023-06-30 SC599365 2022-06-30 SC599365 core:CurrentFinancialInstruments 2023-06-30 SC599365 core:CurrentFinancialInstruments 2022-06-30 SC599365 core:Non-currentFinancialInstruments 2023-06-30 SC599365 core:Non-currentFinancialInstruments 2022-06-30 SC599365 core:ShareCapital 2023-06-30 SC599365 core:ShareCapital 2022-06-30 SC599365 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC599365 core:RetainedEarningsAccumulatedLosses 2022-06-30 SC599365 core:PlantMachinery 2022-06-30 SC599365 core:Vehicles 2022-06-30 SC599365 core:ComputerEquipment 2022-06-30 SC599365 core:PlantMachinery 2023-06-30 SC599365 core:Vehicles 2023-06-30 SC599365 core:ComputerEquipment 2023-06-30 SC599365 bus:OrdinaryShareClass1 2023-06-30 SC599365 2022-07-01 2023-06-30 SC599365 bus:FilletedAccounts 2022-07-01 2023-06-30 SC599365 bus:SmallEntities 2022-07-01 2023-06-30 SC599365 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 SC599365 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 SC599365 bus:Director1 2022-07-01 2023-06-30 SC599365 bus:Director2 2022-07-01 2023-06-30 SC599365 core:PlantMachinery 2022-07-01 2023-06-30 SC599365 core:Vehicles 2022-07-01 2023-06-30 SC599365 core:ComputerEquipment 2022-07-01 2023-06-30 SC599365 2021-07-01 2022-06-30 SC599365 core:CurrentFinancialInstruments 2022-07-01 2023-06-30 SC599365 core:Non-currentFinancialInstruments 2022-07-01 2023-06-30 SC599365 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 SC599365 bus:OrdinaryShareClass1 2021-07-01 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC599365 (Scotland)

NELSON GROUNDWORKS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH THE REGISTRAR

NELSON GROUNDWORKS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2023

Contents

NELSON GROUNDWORKS LIMITED

BALANCE SHEET

AS AT 30 JUNE 2023
NELSON GROUNDWORKS LIMITED

BALANCE SHEET (continued)

AS AT 30 JUNE 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,438,010 1,028,125
1,438,010 1,028,125
Current assets
Stocks 35,000 13,000
Debtors 4 788,720 694,048
Cash at bank and in hand 477,961 1,103,389
1,301,681 1,810,437
Creditors: amounts falling due within one year 5 ( 187,855) ( 237,128)
Net current assets 1,113,826 1,573,309
Total assets less current liabilities 2,551,836 2,601,434
Creditors: amounts falling due after more than one year 6 0 ( 5,325)
Provision for liabilities 7 ( 353,859) ( 248,869)
Net assets 2,197,977 2,347,240
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 2,197,877 2,347,140
Total shareholders' funds 2,197,977 2,347,240

For the financial year ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Nelson Groundworks Limited (registered number: SC599365) were approved and authorised for issue by the Director on 13 November 2023. They were signed on its behalf by:

Mr D Nelson
Director
NELSON GROUNDWORKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2023
NELSON GROUNDWORKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Nelson Groundworks Limited (the company) is a private company incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 9C/O Johnston Carmichael Unit 2a, The Paddock, Stirling Agricultural Center, Stirling, Scotland, FK9 4RN, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover from construction & groundwork services is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from contracts for the provision of professional services is recognized by reference to the stage of completion when the stage of completion, costs incurred and costs to completion can be estimated reliably. the stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates an materials, as a proportion of total costs. Where the outcome can not be estimated reliably, revenue is recognise only to the extent of the expenses recognized tat it is probable will be recovered.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance
Computer equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

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 company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the company during the year, including directors 33 24

3. Tangible assets

Plant and machinery Vehicles Computer equipment Total
£ £ £ £
Cost
At 01 July 2022 960,481 315,128 3,196 1,278,805
Additions 522,383 159,366 4,200 685,949
Disposals 0 ( 12,395) 0 ( 12,395)
At 30 June 2023 1,482,864 462,099 7,396 1,952,359
Accumulated depreciation
At 01 July 2022 176,230 72,863 1,587 250,680
Charge for the financial year 199,629 69,839 952 270,420
Disposals 0 ( 6,751) 0 ( 6,751)
At 30 June 2023 375,859 135,951 2,539 514,349
Net book value
At 30 June 2023 1,107,005 326,148 4,857 1,438,010
At 30 June 2022 784,251 242,265 1,609 1,028,125

4. Debtors

2023 2022
£ £
Trade debtors 609,251 503,845
Corporation tax 38,611 52,032
Other debtors 140,858 138,171
788,720 694,048

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 102,580 176,372
Other taxation and social security 61,948 45,612
Other creditors 23,327 15,144
187,855 237,128

The total obligations under hire purchase contracts included within other creditors is £5,314 (2022: £7,084).

Obligations under finance lease and hire purchase contracts are secured over the assets they relate to.

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Obligations under finance leases and hire purchase contracts 0 5,325

The total obligations under hire purchase contracts included within other creditors is £nil (2022: £5,325).

Obligations under finance lease and hire purchase contracts are secured over the assets they relate to.

7. Provision for liabilities

2023 2022
£ £
Deferred tax 353,859 248,869

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary Share shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Amounts owed to Key Management Personnel 2,135 1,203

These loans are unsecured, interest free and have no fixed date for repayment.