IRIS Accounts Production v24.3.2.46 07242956 director 1.7.23 30.6.24 30.6.24 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh072429562023-06-30072429562024-06-30072429562023-07-012024-06-30072429562022-06-30072429562022-07-012023-06-30072429562023-06-3007242956ns15:EnglandWales2023-07-012024-06-3007242956ns14:PoundSterling2023-07-012024-06-3007242956ns10:Director12023-07-012024-06-3007242956ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3007242956ns10:SmallEntities2023-07-012024-06-3007242956ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3007242956ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3007242956ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3007242956ns10:FullAccounts2023-07-012024-06-3007242956ns10:RegisteredOffice2023-07-012024-06-3007242956ns5:CurrentFinancialInstruments2024-06-3007242956ns5:CurrentFinancialInstruments2023-06-3007242956ns5:Non-currentFinancialInstruments2024-06-3007242956ns5:Non-currentFinancialInstruments2023-06-3007242956ns5:ShareCapital2024-06-3007242956ns5:ShareCapital2023-06-3007242956ns5:RetainedEarningsAccumulatedLosses2024-06-3007242956ns5:RetainedEarningsAccumulatedLosses2023-06-3007242956ns5:LongLeaseholdAssetsns5:LandBuildings2023-07-012024-06-3007242956ns5:PlantMachinery2023-07-012024-06-3007242956ns5:FurnitureFittings2023-07-012024-06-3007242956ns5:LongLeaseholdAssetsns5:LandBuildings2023-06-3007242956ns5:PlantMachinery2023-06-3007242956ns5:FurnitureFittings2023-06-3007242956ns5:LongLeaseholdAssetsns5:LandBuildings2024-06-3007242956ns5:PlantMachinery2024-06-3007242956ns5:FurnitureFittings2024-06-3007242956ns5:LongLeaseholdAssetsns5:LandBuildings2023-06-3007242956ns5:PlantMachinery2023-06-3007242956ns5:FurnitureFittings2023-06-3007242956ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-06-3007242956ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-07-012024-06-3007242956ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-06-3007242956ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-06-3007242956ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3007242956ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3007242956ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-06-3007242956ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-06-30
REGISTERED NUMBER: 07242956 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

NELSON RECYCLING LTD

NELSON RECYCLING LTD (REGISTERED NUMBER: 07242956)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NELSON RECYCLING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: Mr S P Nelson





REGISTERED OFFICE: Homestead Farm
Weyhill Road
Penton Corner
Andover
Hampshire
SP11 0QX





REGISTERED NUMBER: 07242956 (England and Wales)





ACCOUNTANTS: Hysons
Chartered Accountants
14 London Street
Andover
Hampshire
SP10 2PA

NELSON RECYCLING LTD (REGISTERED NUMBER: 07242956)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 223,915 258,614

CURRENT ASSETS
Debtors 6 769,037 950,222
Cash at bank 60,836 70,864
829,873 1,021,086
CREDITORS
Amounts falling due within one year 7 439,124 645,887
NET CURRENT ASSETS 390,749 375,199
TOTAL ASSETS LESS CURRENT
LIABILITIES

614,664

633,813

CREDITORS
Amounts falling due after more than
one year

8

(48,834

)

(84,834

)

PROVISIONS FOR LIABILITIES (41,430 ) (37,013 )
NET ASSETS 524,400 511,966

NELSON RECYCLING LTD (REGISTERED NUMBER: 07242956)

BALANCE SHEET - continued
30 JUNE 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 524,398 511,964
524,400 511,966

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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





Mr S P Nelson - Director


NELSON RECYCLING LTD (REGISTERED NUMBER: 07242956)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Nelson Recycling Ltd 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Long leasehold property - 5% on cost
Plant and machinery - 15% on reducing balance
Fixtures, fittings and equipment - 25% on cost

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 balance sheet date.


NELSON RECYCLING LTD (REGISTERED NUMBER: 07242956)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

3. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

4. EMPLOYEES AND DIRECTORS

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

NELSON RECYCLING LTD (REGISTERED NUMBER: 07242956)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. TANGIBLE FIXED ASSETS
Fixtures,
Long fittings
leasehold Plant and and
property machinery equipment Totals
£    £    £    £   
COST
At 1 July 2023
and 30 June 2024 94,351 407,099 19,988 521,438
DEPRECIATION
At 1 July 2023 31,438 213,144 18,242 262,824
Charge for year 4,717 29,094 888 34,699
At 30 June 2024 36,155 242,238 19,130 297,523
NET BOOK VALUE
At 30 June 2024 58,196 164,861 858 223,915
At 30 June 2023 62,913 193,955 1,746 258,614

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 July 2023
and 30 June 2024 150,000
DEPRECIATION
At 1 July 2023 35,250
Charge for year 17,213
At 30 June 2024 52,463
NET BOOK VALUE
At 30 June 2024 97,537
At 30 June 2023 114,750

NELSON RECYCLING LTD (REGISTERED NUMBER: 07242956)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 166,683 416,563
Other debtors 472,057 384,366
VAT 130,297 149,293
769,037 950,222

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 18,526
Hire purchase contracts 26,000 26,000
Trade creditors 27,427 63,302
Tax 739 -
Other creditors 373,558 535,659
Accrued expenses 1,400 2,400
439,124 645,887

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 14,167 24,167
Hire purchase contracts 34,667 60,667
48,834 84,834