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REGISTERED NUMBER: SC080791 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

W.NELSON AND COMPANY LIMITED

W.NELSON AND COMPANY LIMITED (REGISTERED NUMBER: SC080791)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


W.NELSON AND COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: G W Nelson
J F Nelson





SECRETARY: C Nelson





REGISTERED OFFICE: 1/3 Middleton Avenue
Strutherhill
Larkhall
Strathclyde
ML9 2TL





REGISTERED NUMBER: SC080791 (Scotland)





ACCOUNTANTS: McDaid & Partners
Stanley House
69/71 Hamilton Road
Motherwell
Lanarkshire
ML1 3DG

W.NELSON AND COMPANY LIMITED (REGISTERED NUMBER: SC080791)

BALANCE SHEET
30 SEPTEMBER 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 116,455 127,837

CURRENT ASSETS
Stocks 62,966 50,374
Debtors 5 33,897 136,044
Cash at bank and in hand 499,107 472,135
595,970 658,553
CREDITORS
Amounts falling due within one year 6 46,982 88,569
NET CURRENT ASSETS 548,988 569,984
TOTAL ASSETS LESS CURRENT
LIABILITIES

665,443

697,821

PROVISIONS FOR LIABILITIES 3,606 4,790
NET ASSETS 661,837 693,031

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 661,737 692,931
661,837 693,031

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

W.NELSON AND COMPANY LIMITED (REGISTERED NUMBER: SC080791)

BALANCE SHEET - continued
30 SEPTEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 March 2024 and were signed on its behalf by:





G W Nelson - Director


W.NELSON AND COMPANY LIMITED (REGISTERED NUMBER: SC080791)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

W.nelson And Company Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is stated net of VAT and discounts. Turnover from the sale of goods is recognised when the goods are completed. Where payments are received from customers in advance of goods provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 5% on reducing balance
Plant & machinery - 20% on reducing balance
Fixtures & fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.33% on cost

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
Trade debtors
Trade debtors are amounts due from customers for goods 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 amounts due to suppliers for goods or services obtained in the ordinary course of business.

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

Cash
Cash and cash equivalents are basic financial assets and include cash on hand, deposits held at call with banks, other short-term liquid investments and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.


W.NELSON AND COMPANY LIMITED (REGISTERED NUMBER: SC080791)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Short Plant & Fixtures
leasehold machinery & fittings
£    £    £   
COST
At 1 October 2022
and 30 September 2023 270,216 22,023 3,357
DEPRECIATION
At 1 October 2022 167,725 20,724 3,058
Charge for year 5,125 260 60
At 30 September 2023 172,850 20,984 3,118
NET BOOK VALUE
At 30 September 2023 97,366 1,039 239
At 30 September 2022 102,491 1,299 299

W.NELSON AND COMPANY LIMITED (REGISTERED NUMBER: SC080791)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2022
and 30 September 2023 58,622 1,746 355,964
DEPRECIATION
At 1 October 2022 34,874 1,746 228,127
Charge for year 5,937 - 11,382
At 30 September 2023 40,811 1,746 239,509
NET BOOK VALUE
At 30 September 2023 17,811 - 116,455
At 30 September 2022 23,748 - 127,837

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 30,190 132,967
Other debtors 3,707 3,077
33,897 136,044

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade creditors 24,008 39,406
Taxation and social security 13,038 40,474
Other creditors 9,936 8,689
46,982 88,569

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2023 and 30 September 2022:

30.9.23 30.9.22
£    £   
G W Nelson
Balance outstanding at start of year 643 564
Amounts advanced 209 28,138
Amounts repaid - (28,059 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 852 643

Loans from the directors are interest free and repayable on demand.