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REGISTERED NUMBER: SC080791 (Scotland)


















UNAUDITED CESSATION FINANCIAL STATEMENTS

FOR THE PERIOD 1 OCTOBER 2023 TO 31 JULY 2024

FOR

W.NELSON AND COMPANY LIMITED

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






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 OCTOBER 2023 TO 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


W.NELSON AND COMPANY LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 OCTOBER 2023 TO 31 JULY 2024







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
31 JULY 2024

31.7.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 116,455

CURRENT ASSETS
Stocks - 62,966
Debtors 5 3,054 33,897
Cash at bank and in hand 585,968 499,107
589,022 595,970
CREDITORS
Amounts falling due within one year 6 26,504 46,982
NET CURRENT ASSETS 562,518 548,988
TOTAL ASSETS LESS CURRENT
LIABILITIES

562,518

665,443

PROVISIONS FOR LIABILITIES - 3,606
NET ASSETS 562,518 661,837

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 562,418 661,737
562,518 661,837

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 2024 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
31 JULY 2024


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 10 September 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 PERIOD 1 OCTOBER 2023 TO 31 JULY 2024

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 PERIOD 1 OCTOBER 2023 TO 31 JULY 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period 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 period 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 period was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Short Plant & Fixtures
leasehold machinery & fittings
£    £    £   
COST
At 1 October 2023 270,216 22,023 3,357
Disposals (270,216 ) (22,023 ) (3,357 )
At 31 July 2024 - - -
DEPRECIATION
At 1 October 2023 172,850 20,984 3,118
Charge for period 4,057 173 40
Eliminated on disposal (176,907 ) (21,157 ) (3,158 )
At 31 July 2024 - - -
NET BOOK VALUE
At 31 July 2024 - - -
At 30 September 2023 97,366 1,039 239

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

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 31 JULY 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2023 58,622 1,746 355,964
Disposals (58,622 ) (1,746 ) (355,964 )
At 31 July 2024 - - -
DEPRECIATION
At 1 October 2023 40,811 1,746 239,509
Charge for period 3,711 - 7,981
Eliminated on disposal (44,522 ) (1,746 ) (247,490 )
At 31 July 2024 - - -
NET BOOK VALUE
At 31 July 2024 - - -
At 30 September 2023 17,811 - 116,455

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 30.9.23
£    £   
Trade debtors - 30,190
Other debtors 3,054 3,707
3,054 33,897

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 30.9.23
£    £   
Trade creditors - 24,008
Taxation and social security 23,002 13,038
Other creditors 3,502 9,936
26,504 46,982

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 July 2024 and the year ended 30 September 2023:

31.7.24 30.9.23
£    £   
G W Nelson
Balance outstanding at start of period 852 643
Amounts advanced 14,423 209
Amounts repaid (15,275 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - 852

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

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2023 TO 31 JULY 2024

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

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