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COMPANY REGISTRATION NUMBER: 04841896
NELSON ENGINEERING COMPANY LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 July 2024
NELSON ENGINEERING COMPANY LTD
STATEMENT OF FINANCIAL POSITION
31 July 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
13,416
1,896
CURRENT ASSETS
Stocks
20,000
21,632
Debtors
6
13,103
9,963
Cash at bank and in hand
14,966
22,697
---------
---------
48,069
54,292
CREDITORS: amounts falling due within one year
7
13,775
13,425
---------
---------
NET CURRENT ASSETS
34,294
40,867
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
47,710
42,763
---------
---------
NET ASSETS
47,710
42,763
---------
---------
NELSON ENGINEERING COMPANY LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 July 2024
2024
2023
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
10
10
Profit and loss account
47,700
42,753
---------
---------
SHAREHOLDER FUNDS
47,710
42,763
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has 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 Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 10 April 2025 , and are signed on behalf of the board by:
S Nelson
Director
Company registration number: 04841896
NELSON ENGINEERING COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Queensbury House, 13 Nelson Street, Queensbury, Bradford, West Yorkshire, BD13 2PU.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
10% reducing balance
Fixtures and fittings
-
33% reducing balance
Motor vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. TANGIBLE ASSETS
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 August 2023
2,000
450
32,645
35,095
Additions
17,495
17,495
Disposals
( 22,645)
( 22,645)
--------
-----
---------
---------
At 31 July 2024
2,000
450
27,495
29,945
--------
-----
---------
---------
Depreciation
At 1 August 2023
1,673
449
31,077
33,199
Charge for the year
33
4,374
4,407
Disposals
( 21,077)
( 21,077)
--------
-----
---------
---------
At 31 July 2024
1,706
449
14,374
16,529
--------
-----
---------
---------
Carrying amount
At 31 July 2024
294
1
13,121
13,416
--------
-----
---------
---------
At 31 July 2023
327
1
1,568
1,896
--------
-----
---------
---------
6. DEBTORS
2024
2023
£
£
Trade debtors
12,827
9,963
Other debtors
276
---------
--------
13,103
9,963
---------
--------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,091
Social security and other taxes
2,477
1,658
Other creditors
11,298
10,676
---------
---------
13,775
13,425
---------
---------
8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
During the year, the director had an unsecured loan with the company which was in credit throughout the year. The loan is interest free and repayable on demand.