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REGISTERED NUMBER: 04834298 (England and Wales)















JOHN NELSON & SONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 19 MAY 2024






JOHN NELSON & SONS LIMITED (REGISTERED NUMBER: 04834298)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 19 MAY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


JOHN NELSON & SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 19 MAY 2024







DIRECTOR: J R Nelson





SECRETARY: W R Nelson





REGISTERED OFFICE: 12-14 Tower Row
Drummond Road
Skegness
Lincolnshire
PE25 3EF





REGISTERED NUMBER: 04834298 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
27-29 Lumley Avenue
Skegness
Lincolnshire
PE25 2AT

JOHN NELSON & SONS LIMITED (REGISTERED NUMBER: 04834298)

STATEMENT OF FINANCIAL POSITION
19 MAY 2024

19.5.24 19.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 20,000 20,000
20,000 20,000

CURRENT ASSETS
Stocks 62,000 64,500
Debtors 6 759 369
Cash at bank and in hand 1,362 1,031
64,121 65,900
CREDITORS
Amounts falling due within one year 7 50,431 34,784
NET CURRENT ASSETS 13,690 31,116
TOTAL ASSETS LESS CURRENT LIABILITIES 33,690 51,116

CREDITORS
Amounts falling due after more than one year 8 (8,320 ) (8,667 )

PROVISIONS FOR LIABILITIES - (2,588 )
NET ASSETS 25,370 39,861

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 16,200 16,200
Retained earnings 9,070 23,561
25,370 39,861

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 19 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 19 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

JOHN NELSON & SONS LIMITED (REGISTERED NUMBER: 04834298)

STATEMENT OF FINANCIAL POSITION - continued
19 MAY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 1 August 2025 and were signed by:





J R Nelson - Director


JOHN NELSON & SONS LIMITED (REGISTERED NUMBER: 04834298)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 19 MAY 2024

1. STATUTORY INFORMATION

John Nelson & Sons 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, has been fully amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Fixtures and fittings are stated at most recent valuation.

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
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


JOHN NELSON & SONS LIMITED (REGISTERED NUMBER: 04834298)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 19 MAY 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accruals method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 20 May 2023
and 19 May 2024 60,000
AMORTISATION
At 20 May 2023
and 19 May 2024 60,000
NET BOOK VALUE
At 19 May 2024 -
At 19 May 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST OR VALUATION
At 20 May 2023
and 19 May 2024 20,000
NET BOOK VALUE
At 19 May 2024 20,000
At 19 May 2023 20,000

Cost or valuation at 19 May 2024 is represented by:

Plant and
machinery
etc
£   
Valuation in 2024 20,000

Fixtures and fittings were valued on an open market basis on 19 May 2024 by the director .

JOHN NELSON & SONS LIMITED (REGISTERED NUMBER: 04834298)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 19 MAY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
19.5.24 19.5.23
£    £   
Trade debtors 217 175
Other debtors 542 194
759 369

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
19.5.24 19.5.23
£    £   
Bank loans and overdrafts 29,498 25,733
Trade creditors 1,177 1,201
Taxation and social security 260 1,850
Other creditors 19,496 6,000
50,431 34,784

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
19.5.24 19.5.23
£    £   
Bank loans 8,320 8,667

9. SECURED DEBTS

The following secured debts are included within creditors:

19.5.24 19.5.23
£    £   
Bank overdrafts 27,818 22,733
Bank loans 10,000 11,667
37,818 34,400

The bank overdraft is secured on property owned by W R Nelson the company secretary.

The bounce back loan is secured by the UK Government.

10. RESERVES
Revaluation
reserve
£   
At 20 May 2023
and 19 May 2024 16,200

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The director has provided an interest free loan totalling £15,821 (2023 £2,336).