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REGISTERED NUMBER: OC381897 (England and Wales)



















Financial Statements

for the Year Ended 31 January 2024

for

Nick Merryfield LLP

Nick Merryfield LLP (Registered number: OC381897)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Nick Merryfield LLP

General Information
for the Year Ended 31 January 2024







DESIGNATED MEMBERS: N P Merryfield
Mrs R Merryfield
T P Merryfield





REGISTERED OFFICE: 18 Regent Street
Nottingham
NG1 5BQ





REGISTERED NUMBER: OC381897 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

Nick Merryfield LLP (Registered number: OC381897)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,607 6,223
Investment property 5 1,520,000 1,520,000
1,525,607 1,526,223

CURRENT ASSETS
Debtors 6 25,261 2,407
Cash at bank 57,997 8,706
83,258 11,113
CREDITORS
Amounts falling due within one year 7 49,742 5,982
NET CURRENT ASSETS 33,516 5,131
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,559,123

1,531,354

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

568,456

540,687

MEMBERS' OTHER INTERESTS
Capital accounts 435,513 435,513
Fair value reserve 9 555,154 555,154
1,559,123 1,531,354

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 568,456 540,687
Members' other interests 990,667 990,667
1,559,123 1,531,354

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 January 2024.

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.

Nick Merryfield LLP (Registered number: OC381897)

Balance Sheet - continued
31 January 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 28 October 2024 and were signed by:





N P Merryfield - Designated member

Nick Merryfield LLP (Registered number: OC381897)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Nick Merryfield 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income, net sales of services provided during the year and share of partnership profits for the period, excluding value added tax where applicable.

Investment property
Investment property is not depreciated but is revalued annually at its fair value, in accordance with the Financial Reporting Standard 102 (Section 1A), with any surplus or deficit reflected in the profit and loss account. Any aggregate surplus or deficit arising from changes in fair value is transferred to a fair value reserve.

3. EMPLOYEE INFORMATION

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2023 8,787 6,967 15,754
Additions - 2,272 2,272
Disposals - (3,142 ) (3,142 )
At 31 January 2024 8,787 6,097 14,884
DEPRECIATION
At 1 February 2023 5,813 3,718 9,531
Charge for year 743 1,006 1,749
Eliminated on disposal - (2,003 ) (2,003 )
At 31 January 2024 6,556 2,721 9,277
NET BOOK VALUE
At 31 January 2024 2,231 3,376 5,607
At 31 January 2023 2,974 3,249 6,223

Nick Merryfield LLP (Registered number: OC381897)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 1,520,000
NET BOOK VALUE
At 31 January 2024 1,520,000
At 31 January 2023 1,520,000

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2024 1,520,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 964,846 964,846
Aggregate depreciation (145,290 ) (125,992 )

Investment property was valued on a fair value basis on 31 January 2024 by N P Merryfield .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 25,031 -
Prepayments and accrued income 230 2,407
25,261 2,407

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 10,714 2,944
Social security and other taxes 7,074 316
Accruals and deferred income 31,954 2,722
49,742 5,982

8. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 568,456 540,687

Falling due within one year 568,456 540,687

.

Nick Merryfield LLP (Registered number: OC381897)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

9. RESERVES
Fair
value
reserve
£   
At 1 February 2023
and 31 January 2024 555,154