Company registration number 04636600 (England and Wales)
NELSON CLARE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
NELSON CLARE LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
NELSON CLARE LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
278,284
-
Cash at bank and in hand
61,701
258,352
339,985
258,352
Creditors: amounts falling due within one year
4
(147,058)
(54,891)
Net current assets
192,927
203,461
Capital and reserves
Called up share capital
5
10,000
10,000
Share premium account
-
0
49,190
Capital redemption reserve
-
0
175,810
Profit and loss reserves
182,927
(31,539)
Total equity
192,927
203,461

For the financial year ended 30 June 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 of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 7 March 2025 and are signed on its behalf by:
G N Allen
Director
Company registration number 04636600 (England and Wales)
NELSON CLARE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
Share capital
Share premium account
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 April 2022
12,771
49,190
173,039
(117,875)
117,125
Period ended 30 June 2023:
Profit and total comprehensive income
-
-
-
146,336
146,336
Own shares acquired
-
-
-
(60,000)
(60,000)
Redemption of shares
5
(2,771)
-
0
2,771
-
0
-
0
Balance at 30 June 2023
10,000
49,190
175,810
(31,539)
203,461
Year ended 30 June 2024:
Loss and total comprehensive income
-
-
-
(8,039)
(8,039)
Dividends
-
-
-
(2,000)
(2,000)
Redemption of shares
5
-
0
-
0
-
(495)
(495)
Reduction of shares
5
-
0
-
0
-
225,000
225,000
Other movements
-
(49,190)
(175,810)
-
(225,000)
Balance at 30 June 2024
10,000
-
0
-
0
182,927
192,927
NELSON CLARE LIMITED
STATEMENT OF CHANGES IN EQUITY (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2
Accounting policies
Company information

Nelson Clare Limited is a private company limited by shares incorporated in England and Wales. The registered office is 82 St John Street, London, EC1M 4JN.

2.1
Reporting period

The prior accounting period was lengthened and relates to the 15 month period from 1st April 2022 to 30th June 2023. The period was lengthened to ensure that all share repurchases were completed by the period end date. Therefore comparatives are not wholly comparable.

2.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Freehold land and assets in the course of construction are not depreciated.

2.3
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets which include debtors are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

NELSON CLARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2
Accounting policies
(Continued)
- 4 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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

2.4
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
4
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
32,867
-
0
Other creditors
114,191
54,891
147,058
54,891
5
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
10,000 Ordinary A shares of £1 each
10,000
10,000
10,000
10,000
NELSON CLARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
6
Related party transactions

The company has taken advantage of the exemption in FRS102 from the requirement to disclose transactions with group companies on the grounds that any subsidiary which is a party to the transaction is wholly owned by a member of the group.

 

7
Directors' transactions

At the balance sheet date, £114,191 (2023: £54,891) was owed to G Allen and included within creditors.

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