W. B. Nelson Limited 01230431 false 2022-05-01 2023-04-30 2023-04-30 The principal activity of the company is the letting of small industrial units and the processing & merchandising of timber products. The company's other interests include letting of residential property & carrying on the business of publicans Digita Accounts Production Advanced 6.30.9574.0 true 01230431 2022-05-01 2023-04-30 01230431 2023-04-30 01230431 bus:OrdinaryShareClass1 2023-04-30 01230431 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2023-04-30 01230431 core:CurrentFinancialInstruments 2023-04-30 01230431 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 01230431 core:FurnitureFittingsToolsEquipment 2023-04-30 01230431 core:LandBuildings 2023-04-30 01230431 core:MotorVehicles 2023-04-30 01230431 core:OtherPropertyPlantEquipment 2023-04-30 01230431 bus:SmallEntities 2022-05-01 2023-04-30 01230431 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 01230431 bus:FullAccounts 2022-05-01 2023-04-30 01230431 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 01230431 bus:RegisteredOffice 2022-05-01 2023-04-30 01230431 bus:CompanySecretary1 2022-05-01 2023-04-30 01230431 bus:Director2 2022-05-01 2023-04-30 01230431 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 01230431 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 01230431 core:FurnitureFittingsToolsEquipment 2022-05-01 2023-04-30 01230431 core:LandBuildings 2022-05-01 2023-04-30 01230431 core:MotorVehicles 2022-05-01 2023-04-30 01230431 core:OfficeEquipment 2022-05-01 2023-04-30 01230431 core:OtherPropertyPlantEquipment 2022-05-01 2023-04-30 01230431 core:PlantMachinery 2022-05-01 2023-04-30 01230431 countries:England 2022-05-01 2023-04-30 01230431 2022-04-30 01230431 core:FurnitureFittingsToolsEquipment 2022-04-30 01230431 core:LandBuildings 2022-04-30 01230431 core:MotorVehicles 2022-04-30 01230431 core:OtherPropertyPlantEquipment 2022-04-30 01230431 2021-05-01 2022-04-30 01230431 2022-04-30 01230431 bus:OrdinaryShareClass1 2022-04-30 01230431 core:CurrentFinancialInstruments 2022-04-30 01230431 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-30 01230431 core:FurnitureFittingsToolsEquipment 2022-04-30 01230431 core:LandBuildings 2022-04-30 01230431 core:MotorVehicles 2022-04-30 01230431 core:OtherPropertyPlantEquipment 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 01230431

W. B. Nelson Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2023

 

W. B. Nelson Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

W. B. Nelson Limited

Company Information

Director

Mr Edward Peter Nelson

Company secretary

Dr Pamela Janet McCrossan

Registered office

BRINDLE STORE
BOURNES ROW
GREGSON LA.
NR PRESTON
Lancashire
PR5 0DR

Accountants

McGinty Demack Limited
Chartered Certified Accountants
Vermont House
Bradley Lane
Standish
Wigan
WN6 0XF

 

W. B. Nelson Limited

(Registration number: 01230431)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,176,285

1,166,317

Other financial assets

5

4,009,768

4,009,768

 

5,186,053

5,176,085

Current assets

 

Debtors

6

1,087,504

762,715

Cash at bank and in hand

 

151,398

266,637

 

1,238,902

1,029,352

Creditors: Amounts falling due within one year

7

(756,422)

(711,418)

Net current assets

 

482,480

317,934

Total assets less current liabilities

 

5,668,533

5,494,019

Provisions for liabilities

(16,657)

(11,123)

Net assets

 

5,651,876

5,482,896

Capital and reserves

 

Called up share capital

8

11,676

11,676

Retained earnings

5,640,200

5,471,220

Shareholders' funds

 

5,651,876

5,482,896

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

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

W. B. Nelson Limited

(Registration number: 01230431)
Balance Sheet as at 30 April 2023

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.

Approved and authorised by the director on 17 October 2023
 

.........................................
Mr Edward Peter Nelson
Director

 

W. B. Nelson Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
BRINDLE STORE
BOURNES ROW
GREGSON LA.
NR PRESTON
Lancashire
PR5 0DR
England

These financial statements were authorised for issue by the director on 17 October 2023.

2

Accounting policies

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Revenue recognition

Turnover comprises 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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

W. B. Nelson Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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 income 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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

Motor vehicles

25% reducing balance basis

Office equipment

25% reducing balance basis

Plant and machinery

25% reducing balance basis

Land and buildings

2% Straight line basis (lease only)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

W. B. Nelson Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2022 - 5).

 

W. B. Nelson Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2022

1,099,841

12,385

87,277

156,675

1,356,178

Additions

-

1,248

63,270

4,500

69,018

Disposals

-

-

(28,295)

-

(28,295)

At 30 April 2023

1,099,841

13,633

122,252

161,175

1,396,901

Depreciation

At 1 May 2022

15,701

9,972

49,861

114,327

189,861

Charge for the year

397

549

18,097

11,712

30,755

At 30 April 2023

16,098

10,521

67,958

126,039

220,616

Carrying amount

At 30 April 2023

1,083,743

3,112

54,294

35,136

1,176,285

At 30 April 2022

1,084,140

2,413

37,416

42,348

1,166,317

Included within the net book value of land and buildings above is £1,083,743 (2022 - £1,084,140) in respect of freehold land and buildings.
 

 

W. B. Nelson Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 May 2022

4,009,768

4,009,768

At 30 April 2023

4,009,768

4,009,768

Impairment

Carrying amount

At 30 April 2023

4,009,768

4,009,768

6

Debtors

Current

2023
£

2022
£

Trade debtors

63,220

66,116

Prepayments

8,583

12,166

Other debtors

1,015,701

684,433

 

1,087,504

762,715

7

Creditors

Creditors: amounts falling due within one year

 

W. B. Nelson Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

2023
£

2022
£

Due within one year

Trade creditors

31,928

29,601

Taxation and social security

47,844

19,076

Accruals and deferred income

80,939

80,939

Other creditors

595,711

581,802

756,422

711,418

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

11,676

11,676

11,676

11,676