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Registered number: 06984051










NELCO LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
NELCO LIMITED
REGISTERED NUMBER: 06984051

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
13,167
10,748

  
13,167
10,748

Current assets
  

Debtors: amounts falling due within one year
 5 
701,059
369,068

Cash at bank and in hand
 6 
262,685
101,494

  
963,744
470,562

Creditors: amounts falling due within one year
 7 
(410,946)
(69,188)

Net current assets
  
 
 
552,798
 
 
401,374

Total assets less current liabilities
  
565,965
412,122

  

Net assets
  
565,965
412,122


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
565,964
412,121

  
565,965
412,122


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 August 2025.




R. Leblanc
Director

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
NELCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Nelco Limited is a private company, limited by shares, which is incorporated under the Companies Act 2006 and registered in England (no.01768764). The address of the registered office is c/o Hill Dickinson, 50 Fountain Street, Manchester, M2 2AS. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
NELCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
33% straight line.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
NELCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 4

 
NELCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Plant and machinery
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
188,737
857
189,594


Additions
3,840
-
3,840



At 31 December 2023

192,577
857
193,434



Depreciation


At 1 January 2023
177,989
857
178,846


Charge for the year on owned assets
1,421
-
1,421



At 31 December 2023

179,410
857
180,267



Net book value



At 31 December 2023
13,167
-
13,167



At 31 December 2022
10,748
-
10,748


5.


Debtors

2023
2022
£
£


Trade debtors
292,791
72,514

Other debtors
359,540
274,615

Prepayments and accrued income
48,728
21,939

701,059
369,068



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
262,685
101,494

262,685
101,494


Page 5

 
NELCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
45,661
48,569

Corporation tax
46,145
-

Other taxation and social security
18,873
-

Accruals and deferred income
300,267
20,619

410,946
69,188



8.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
1,231,545
447,918


Financial liabilities


Other financial liabilities measured at fair value through profit or loss
(65,927)
(64,236)


Financial assets measured at fair value through profit or loss comprise trade debtors, other debtors and cash at bank. 


Other financial liabilities measured at fair value through profit or loss comprise trade creditors and accruals.


9.


Related party transactions

The company has taken advantage of the exemptions contained within the applicable accounting standards not to disclose details of transactions with other members of its group of companies. 


10.


Controlling party

The company is a subsidiary of New England Lead Burning Company Inc. The company's registered office and principal place of business is 2 Burlington Woods Drive, Suite 300, Burlington, MA 01803, United States. 

Page 6

 
NELCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 27 August 2025 by Stephen Talbot (Senior statutory auditor) on behalf of Langtons Professional Services Limited.

 
Page 7