Company Registration No. 13222427 (England and Wales)
NEILSONCO LIMITED
Unaudited accounts
for the period from 1 March 2023 to 28 February 2024
NEILSONCO LIMITED
Unaudited accounts
Contents
NEILSONCO LIMITED
Company Information
for the period from 1 March 2023 to 28 February 2024
Director
Nelson Alves Teixeira Freitas
Company Number
13222427 (England and Wales)
Registered Office
3 Stuart Street,
Pontyclun
CF72 9EF
Accountants
Evans Entwistle
Villa House
7 Herbert Terrace
Penarth
Vale of Glamorgan
CF64 2AH
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
NEILSONCO LIMITED
for the period from 1 March 2023 to 28 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of NEILSONCO LIMITED for the period from 1 March 2023 to 28 February 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle
Member in Practice
Villa House
7 Herbert Terrace
Penarth
Vale of Glamorgan
CF64 2AH
29 April 2024
NEILSONCO LIMITED
Statement of financial position
as at 28 February 2024
Tangible assets
14,078
18,798
Cash at bank and in hand
136,609
15,756
Creditors: amounts falling due within one year
(4,610)
(15,397)
Net current assets
134,575
12,359
Total assets less current liabilities
148,653
31,157
Creditors: amounts falling due after more than one year
(216,382)
(69,955)
Provisions for liabilities
Deferred tax
(1,687)
(2,389)
Net liabilities
(69,416)
(41,187)
Called up share capital
2
2
Profit and loss account
(69,418)
(41,189)
Shareholders' funds
(69,416)
(41,187)
For the period ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 April 2024 and were signed on its behalf by
Nelson Alves Teixeira Freitas
Director
Company Registration No. 13222427
NEILSONCO LIMITED
Notes to the Accounts
for the period from 1 March 2023 to 28 February 2024
NEILSONCO LIMITED is a private company, limited by shares, registered in England and Wales, registration number 13222427. The registered office is 3 Stuart Street, , Pontyclun, CF72 9EF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10 years
Fixtures & fittings
5 years
Computer equipment
5 years
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 accounts. 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 assets and liabilities are not discounted.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
NEILSONCO LIMITED
Notes to the Accounts
for the period from 1 March 2023 to 28 February 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 March 2023
6,313
9,433
7,978
677
24,401
At 28 February 2024
6,313
9,433
7,978
677
24,401
At 1 March 2023
665
3,144
1,557
237
5,603
Charge for the period
631
2,358
1,596
135
4,720
At 28 February 2024
1,296
5,502
3,153
372
10,323
At 28 February 2024
5,017
3,931
4,825
305
14,078
At 28 February 2023
5,648
6,289
6,421
440
18,798
Amounts falling due within one year
Accrued income and prepayments
2,573
-
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
-
218
8
Creditors: amounts falling due after more than one year
2024
2023
Loans from directors
216,382
69,955
NEILSONCO LIMITED
Notes to the Accounts
for the period from 1 March 2023 to 28 February 2024
9
Deferred taxation
2024
2023
Accelerated capital allowances
1,687
2,389
Provision at start of period
2,389
1,174
(Credited)/charged to the profit and loss account
(702)
1,215
Provision at end of period
1,687
2,389
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
11
Average number of employees
During the period the average number of employees was 7 (2023: 10).