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REGISTERED NUMBER: 09117657 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Michael Nel And Associates Limited

Michael Nel And Associates Limited (Registered number: 09117657)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


Michael Nel And Associates Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr W M Nel
Mr D Syms





SECRETARY: Mr W M Nel





REGISTERED OFFICE: Suite 1
Concept House
23 Billet Lane
Hornchurch
Essex
RM11 1XP





REGISTERED NUMBER: 09117657 (England and Wales)





ACCOUNTANTS: Havard & Associates
Suite 1
Concept House
23 Billet Lane
Hornchurch
Essex
RM11 1XP

Michael Nel And Associates Limited (Registered number: 09117657)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,463 12,162

CURRENT ASSETS
Debtors 5 68,904 80,680
Cash at bank 17,557 7,168
86,461 87,848
CREDITORS
Amounts falling due within one year 6 38,548 35,754
NET CURRENT ASSETS 47,913 52,094
TOTAL ASSETS LESS CURRENT
LIABILITIES

59,376

64,256

PROVISIONS FOR LIABILITIES 2,311 2,311
NET ASSETS 57,065 61,945

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 56,965 61,845
SHAREHOLDERS' FUNDS 57,065 61,945

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

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

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 5 November 2024 and were signed on its behalf by:



Mr W M Nel - Director


Michael Nel And Associates Limited (Registered number: 09117657)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Michael Nel And Associates 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.

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

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 etc - 33% on cost and 20% on reducing balance

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 2 ) .

Michael Nel And Associates Limited (Registered number: 09117657)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 33,835
Additions 2,931
At 31 March 2024 36,766
DEPRECIATION
At 1 April 2023 21,673
Charge for year 3,630
At 31 March 2024 25,303
NET BOOK VALUE
At 31 March 2024 11,463
At 31 March 2023 12,162

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors - 20,655
Other debtors 68,904 60,025
68,904 80,680

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts - 6,667
Trade creditors 9,877 -
Taxation and social security 17,159 12,713
Other creditors 11,512 16,374
38,548 35,754

7. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Share capital 1 £1 100 100

Michael Nel And Associates Limited (Registered number: 09117657)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mrs S M Nel and Mr W M Nel
Balance outstanding at start of year 60,025 80,489
Amounts advanced 68,904 60,025
Amounts repaid (60,025 ) (80,489 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 68,904 60,025

The loans were unsecured and interest was charged at 2.50% per annum pro rata.