REGISTERED NUMBER: SC405940 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

NELSON & VECCHIO LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Nelson

Mrs L Nelson

SECRETARY:

D Nelson

REGISTERED OFFICE:

12 Golf Course Road

Girvan

KA26 9HW

REGISTERED NUMBER:

SC405940 (Scotland)

ACCOUNTANTS:

Galbraith Pritchards

20 Barns Street

Ayr

Ayrshire

KA7 1XA

BANKERS:

Barclays Bank PLC

225/227 High Street

Ayr

Ayrshire

KA7 1RB

FIXED ASSETS

Tangible assets

4

310,025

364,831

CURRENT ASSETS

Debtors

5

164,500

2,067

Cash at bank

902,801

1,024,073

1,067,301

1,026,140

CREDITORS

Amounts falling due within one year

6

577,961

570,773

NET CURRENT ASSETS

489,340

455,367

TOTAL ASSETS LESS CURRENT LIABILITIES

799,365

820,198

PROVISIONS FOR LIABILITIES

77,506

91,208

NET ASSETS

721,859

728,990

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

721,759

728,890

SHAREHOLDERS' FUNDS

721,859

728,990

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2025 and were signed on its behalf by:

D Nelson - Director

1.	STATUTORY INFORMATION

Nelson & Vecchio 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.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, which are described in note 2, the directors are required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover

Turnover represents net invoiced services rendered and amounts recoverable under contract, excluding Value Added Tax.

In the case of long term contracts, turnover is the sales value of work done in the period, including estimates in respect of amounts not invoiced.

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

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts are capitalised in the balance sheet and depreciated over their estimated useful lives.

The interest element of these obligations is charged to the profit and loss account on a straight line basis over the relevant period. The capital element of the future payments is treated as a liability.

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.

Amounts recoverable under contracts

Amounts recoverable on contracts which are included in debtors are stated at the net sales value of work done less amounts received as progress payments on account. Turnover is calculated by reference to the value of work performed to date as a proportion of the total contract value. Provision is made for the full amount of foreseeable losses on contracts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2024

501,165

170,469

2,974

674,608

Additions

6,875

66,256

1,152

74,283

Disposals

(13,229

)

(71,250

)

(2,974

)

(87,453

)

At 31 December 2024

494,811

165,475

1,152

661,438

DEPRECIATION

At 1 January 2024

182,943

123,860

2,974

309,777

Charge for year

63,665

18,197

380

82,242

Eliminated on disposal

(6,460

)

(31,172

)

(2,974

)

(40,606

)

At 31 December 2024

240,148

110,885

380

351,413

NET BOOK VALUE

At 31 December 2024

254,663

54,590

772

310,025

At 31 December 2023

318,222

46,609

-

364,831

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade debtors

160,172

-

Other debtors

-

2,067

Prepayments

4,328

-

164,500

2,067

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade creditors

1,893

826

Tax

56,073

26,483

Social security and other taxes

2,507

3,161

VAT

90,462

178,882

Other creditors -NGI

260,972

284,281

Directors' current accounts

111,470

37,128

Accrued expenses

54,584

40,012

577,961

570,773

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D Nelson.