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REGISTERED NUMBER: SC405940 (Scotland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

NELSON & VECCHIO LIMITED

NELSON & VECCHIO LIMITED (REGISTERED NUMBER: SC405940)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NELSON & VECCHIO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: D Nelson
Mrs L Nelson



SECRETARY: D Nelson



REGISTERED OFFICE: 12 Golf Course Road
Girvan
KA26 9HW



REGISTERED NUMBER: SC405940 (Scotland)



ACCOUNTANTS: Galbraith Pritchards
20 Barns Street
Ayr
Ayrshire
KA7 1XA



BANKERS: Barclays Bank PLC
225/227 High Street
Ayr
Ayrshire
KA7 1RB

NELSON & VECCHIO LIMITED (REGISTERED NUMBER: SC405940)

BALANCE SHEET
31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 364,831 297,068

CURRENT ASSETS
Debtors 5 2,067 143,893
Cash at bank 1,024,073 1,116,331
1,026,140 1,260,224
CREDITORS
Amounts falling due within one year 6 570,773 618,836
NET CURRENT ASSETS 455,367 641,388
TOTAL ASSETS LESS CURRENT
LIABILITIES

820,198

938,456

PROVISIONS FOR LIABILITIES 91,208 74,267
NET ASSETS 728,990 864,189

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 728,890 864,089
SHAREHOLDERS' FUNDS 728,990 864,189

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

NELSON & VECCHIO LIMITED (REGISTERED NUMBER: SC405940)

BALANCE SHEET - continued
31 DECEMBER 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 23 September 2024 and were signed on its behalf by:





D Nelson - Director


NELSON & VECCHIO LIMITED (REGISTERED NUMBER: SC405940)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Nelson & Vecchio 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.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, which are described in note 2, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Turnover represents net invoiced services rendered and amounts recoverable under contract, excluding Value Added Tax.

In the case of long term contracts, turnover is the sales value of work done in the period, including estimates in respect of amounts not invoiced.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.


NELSON & VECCHIO LIMITED (REGISTERED NUMBER: SC405940)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts are capitalised in the balance sheet and depreciated over their estimated useful lives.

The interest element of these obligations is charged to the profit and loss account on a straight line basis over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Amounts recoverable under contracts
Amounts recoverable on contracts which are included in debtors are stated at the net sales value of work done less amounts received as progress payments on account. Turnover is calculated by reference to the value of work performed to date as a proportion of the total contract value. Provision is made for the full amount of foreseeable losses on contracts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

NELSON & VECCHIO LIMITED (REGISTERED NUMBER: SC405940)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 338,311 170,469 2,974 511,754
Additions 162,854 - - 162,854
At 31 December 2023 501,165 170,469 2,974 674,608
DEPRECIATION
At 1 January 2023 103,388 108,324 2,974 214,686
Charge for year 79,555 15,536 - 95,091
At 31 December 2023 182,943 123,860 2,974 309,777
NET BOOK VALUE
At 31 December 2023 318,222 46,609 - 364,831
At 31 December 2022 234,923 62,145 - 297,068



5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors - 141,746
Other debtors 2,067 2,147
2,067 143,893

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade creditors 826 1,907
Tax 26,483 48,821
Social security and other taxes 3,161 2,484
VAT 178,882 85,086
Other creditors -NGI 284,281 352,067
Directors' current accounts 37,128 97,501
Accrued expenses 40,012 30,970
570,773 618,836

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D Nelson.