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REGISTERED NUMBER: OC422763 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Nichols & Co (Accounting) LLP

Nichols & Co (Accounting) LLP (Registered number: OC422763)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Nichols & Co (Accounting) LLP

General Information
for the Year Ended 31 December 2023







DESIGNATED MEMBERS: S Nichols
Mrs LM Nichols





REGISTERED OFFICE: Unit 7
Mulberry Place
Pinnell Road
Eltham
London
SE9 6AR





REGISTERED NUMBER: OC422763 (England and Wales)





ACCOUNTANTS: Nichols & Co ( Accountancy ) Limited
Chartered Accountants
Unit 7
Mulberry Place
Pinnell Road
Eltham
London
SE9 6AR

Nichols & Co (Accounting) LLP (Registered number: OC422763)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £ £
FIXED ASSETS
Intangible assets 4 281,020 281,020
Tangible assets 5 59,422 59,422
340,442 340,442

CURRENT ASSETS
Stocks 125,581 106,930
Debtors 6 190,340 165,180
Cash at bank 152 1,493
316,073 273,603
CREDITORS
Amounts falling due within one year 7 (263,271 ) (270,254 )
NET CURRENT ASSETS 52,802 3,349
TOTAL ASSETS LESS CURRENT
LIABILITIES

393,244

343,791

CREDITORS
Amounts falling due after more than one
year

8

(22,433

)

(33,178

)
NET ASSETS ATTRIBUTABLE TO
MEMBERS

370,811

310,613

Nichols & Co (Accounting) LLP (Registered number: OC422763)

Balance Sheet - continued
31 December 2023

31.12.23 31.12.22
Notes £ £
LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

120,811

60,613

MEMBERS' OTHER INTERESTS
Member's capital classified as
equity 250,000 250,000
370,811 310,613

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 120,811 60,613
Members' other interests 250,000 250,000
370,811 310,613

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 December 2023.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 26 September 2024 and were signed by:




S Nichols - Designated member




Nichols & Co (CM) Ltd - Designated member


Nichols & Co (Accounting) LLP (Registered number: OC422763)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Nichols & Co (Accounting) LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. 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.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

STOCKS
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

HIRE PURCHASE AND LEASING COMMITMENTS
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 LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 January 2023
and 31 December 2023 281,020
NET BOOK VALUE
At 31 December 2023 281,020
At 31 December 2022 281,020

Nichols & Co (Accounting) LLP (Registered number: OC422763)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 January 2023
and 31 December 2023 60,011
DEPRECIATION
At 1 January 2023
and 31 December 2023 589
NET BOOK VALUE
At 31 December 2023 59,422
At 31 December 2022 59,422

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£ £
Trade debtors 188,169 153,699
Other debtors 2,171 11,481
190,340 165,180

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£ £
Bank loans and overdrafts 134,433 219,311
Payments on account 86,280 46,360
Trade creditors 525 3
Taxation and social security 33,506 4,579
Other creditors 8,527 1
263,271 270,254

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£ £
Bank loans 22,433 33,178

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

The amounts due to members in respect of their profits for the year are included within Loans and other debts due to members.

In the event of a winding up of the company, amounts due to members rank above unsecured creditors.