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REGISTERED NUMBER: 04834298 (England and Wales)















JOHN NELSON & SONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 19 MAY 2023






JOHN NELSON & SONS LIMITED (REGISTERED NUMBER: 04834298)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 19 MAY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


JOHN NELSON & SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 19 MAY 2023







DIRECTOR: J R Nelson





SECRETARY: W R Nelson





REGISTERED OFFICE: 12-14 Tower Row
Drummond Road
Skegness
Lincolnshire
PE25 3EF





REGISTERED NUMBER: 04834298 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
27-29 Lumley Avenue
Skegness
Lincolnshire
PE25 2AT

JOHN NELSON & SONS LIMITED (REGISTERED NUMBER: 04834298)

STATEMENT OF FINANCIAL POSITION
19 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 20,000 20,000
20,000 20,000

CURRENT ASSETS
Stocks 64,500 66,500
Debtors 6 369 536
Cash at bank and in hand 1,031 740
65,900 67,776
CREDITORS
Amounts falling due within one year 7 34,784 26,328
NET CURRENT ASSETS 31,116 41,448
TOTAL ASSETS LESS CURRENT LIABILITIES 51,116 61,448

CREDITORS
Amounts falling due after more than one year 8 (8,667 ) (10,333 )

PROVISIONS FOR LIABILITIES (2,588 ) (3,800 )
NET ASSETS 39,861 47,315

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 16,200 16,200
Retained earnings 23,561 31,015
39,861 47,315

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 19 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 19 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

JOHN NELSON & SONS LIMITED (REGISTERED NUMBER: 04834298)

STATEMENT OF FINANCIAL POSITION - continued
19 MAY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 15 January 2024 and were signed by:





J R Nelson - Director


JOHN NELSON & SONS LIMITED (REGISTERED NUMBER: 04834298)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 19 MAY 2023

1. STATUTORY INFORMATION

John Nelson & Sons Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, has been fully amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Fixtures and fittings are stated at most recent valuation.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

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. Accounts 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


JOHN NELSON & SONS LIMITED (REGISTERED NUMBER: 04834298)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 19 MAY 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences 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 tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are 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.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accruals method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 20 May 2022
and 19 May 2023 60,000
AMORTISATION
At 20 May 2022
and 19 May 2023 60,000
NET BOOK VALUE
At 19 May 2023 -
At 19 May 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST OR VALUATION
At 20 May 2022
and 19 May 2023 20,000
NET BOOK VALUE
At 19 May 2023 20,000
At 19 May 2022 20,000

Cost or valuation at 19 May 2023 is represented by:

Plant and
machinery
etc
£   
Valuation in 2023 20,000

Fixtures and fittings were valued on an open market basis on 19 May 2023 by the director .

JOHN NELSON & SONS LIMITED (REGISTERED NUMBER: 04834298)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 19 MAY 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 175 204
Other debtors 194 332
369 536

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 25,733 20,770
Trade creditors 1,201 583
Taxation and social security 1,850 536
Other creditors 6,000 4,439
34,784 26,328

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 8,667 10,333

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 22,733 17,770
Bank loans 11,667 13,333
34,400 31,103

The bank overdraft is secured on property owned by W R Nelson the company secretary.

The bounce back loan is secured by the UK Government.

10. RESERVES
Revaluation
reserve
£   
At 20 May 2022
and 19 May 2023 16,200

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The director has provided an interest free loan totalling £2,336 (2022 £2,366).