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REGISTERED NUMBER: SC506871 (Scotland)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Neil Nisbet & Co Limited

Neil Nisbet & Co Limited (Registered number: SC506871)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Neil Nisbet & Co Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: N Nisbet





REGISTERED OFFICE: c/o Neil Nisbet & Co.
Thain House
226 Queensferry Road
Edinburgh
EH4 2BP





REGISTERED NUMBER: SC506871 (Scotland)





ACCOUNTANTS: Neil Nisbet & Co.
c/o Neil Nisbet & Co.
Thain House
226 Queensferry Road
Edinburgh
EH4 2BP

Neil Nisbet & Co Limited (Registered number: SC506871)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 57,750 63,000
Property, plant and equipment 5 5,583 6,809
63,333 69,809

CURRENT ASSETS
Debtors 6 230,302 199,078
Cash at bank 5,176 3,458
235,478 202,536
CREDITORS
Amounts falling due within one year 7 231,247 197,930
NET CURRENT ASSETS 4,231 4,606
TOTAL ASSETS LESS CURRENT
LIABILITIES

67,564

74,415

CREDITORS
Amounts falling due after more than one year 8 (28,922 ) (34,804 )

PROVISIONS FOR LIABILITIES (725 ) (925 )
NET ASSETS 37,917 38,686

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves - 2,723
Retained earnings 37,817 35,863
SHAREHOLDERS' FUNDS 37,917 38,686

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

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

Neil Nisbet & Co Limited (Registered number: SC506871)

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 director and authorised for issue on 21 February 2025 and were signed by:





N Nisbet - Director


Neil Nisbet & Co Limited (Registered number: SC506871)

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

1. STATUTORY INFORMATION

Neil Nisbet & Co 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 represents net income from operating activities, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 25% on reducing balance and 15% 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Neil Nisbet & Co Limited (Registered number: SC506871)

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

2. ACCOUNTING POLICIES - continued

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 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 105,000
AMORTISATION
At 1 August 2023 42,000
Charge for year 5,250
At 31 July 2024 47,250
NET BOOK VALUE
At 31 July 2024 57,750
At 31 July 2023 63,000

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 August 2023 25,160
Additions 360
At 31 July 2024 25,520
DEPRECIATION
At 1 August 2023 18,351
Charge for year 1,586
At 31 July 2024 19,937
NET BOOK VALUE
At 31 July 2024 5,583
At 31 July 2023 6,809

Neil Nisbet & Co Limited (Registered number: SC506871)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 203,570 167,628
Other debtors 26,732 31,450
230,302 199,078

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 5,882 5,882
Trade creditors 3,157 8,810
Taxation and social security 66,389 57,783
Other creditors 155,819 125,455
231,247 197,930

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans 28,922 34,804

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 5,393 11,275

9. ULTIMATE CONTROLLING PARTY

The controlling party is N Nisbet.