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REGISTERED NUMBER: OC333720 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

NARDELLO & CO LLP

NARDELLO & CO LLP (REGISTERED NUMBER: OC333720)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page |

General Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

NARDELLO & CO LLP

GENERAL INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2024

| DESIGNATED MEMBERS: | Ms H Montane

| Nardello Holdings (UK) LLC

| REGISTERED OFFICE: | 55 Loudoun Road

| St John's Wood

| London

| NW8 0DL

| REGISTERED NUMBER: | OC333720 (England and Wales)

| ACCOUNTANTS: | MGR SD Limited

| Chartered Accountants

| 55 Loudoun Road

| St John's Wood

| London

| NW8 0DL

NARDELLO & CO LLP (REGISTERED NUMBER: OC333720)

BALANCE SHEET

31 DECEMBER 2024

| 31.12.24 |  | 31.12.23

| Notes | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 240,149 |  | 117,423 |  |

CURRENT ASSETS

Debtors | 5 | 5,102,330 |  | 1,884,578 |  |

Cash at bank and in hand | 216,108 |  | 635,260 |  |

5,318,438 |  | 2,519,838 |  |

CREDITORS

Amounts falling due within one year | 6 | (1,373,765 | ) | (936,247 | ) |

NET CURRENT ASSETS | 3,944,673 |  | 1,583,591 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 4,184,822 |  | 1,701,014 |  |

CREDITORS

Amounts falling due after more than one year | 7 | (548,642 | ) | (228,517 | ) |

NET ASSETS ATTRIBUTABLE TO MEMBERS | 3,636,180 |  | 1,472,497 |  |

LOANS AND OTHER DEBTS DUE TO MEMBERS | 10 | 3,635,180 |  | 1,471,497 |  |

MEMBERS' OTHER INTERESTS

Capital accounts | 1,000 |  | 1,000 |  |

3,636,180 |  | 1,472,497 |  |

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members | 10 | 3,635,180 |  | 1,471,497 |  |

Members' other interests | 1,000 |  | 1,000 |  |

3,636,180 |  | 1,472,497 |  |

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 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.

NARDELLO & CO LLP (REGISTERED NUMBER: OC333720)

BALANCE SHEET - continued

31 DECEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 28 May 2025 and were signed by:

Nardello Holdings (UK) LLC - Designated member

NARDELLO & CO LLP (REGISTERED NUMBER: OC333720)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1. | STATUTORY INFORMATION

| Nardello & Co 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.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Short leasehold | - | evenly over the period of the lease

| Fixtures and fittings | - | 25% on cost

| Computer equipment | - | 33% on cost

| 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

| 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 17 (2023 - 14 ) .

NARDELLO & CO LLP (REGISTERED NUMBER: OC333720)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

4. | TANGIBLE FIXED ASSETS

| Fixtures |

| Short |  | and |  | Computer |

| leasehold |  | fittings |  | equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 1 January 2024 | 349,809 |  | 161,560 |  | 103,673 |  | 615,042 |  |

| Additions | 181,490 |  | 7,358 |  | 49,056 |  | 237,904 |  |

| Disposals | (349,810 | ) | (160,422 | ) | - |  | (510,232 | ) |

| At 31 December 2024 | 181,489 |  | 8,496 |  | 152,729 |  | 342,714 |  |

| DEPRECIATION

| At 1 January 2024 | 279,678 |  | 160,193 |  | 57,748 |  | 497,619 |  |

| Charge for year | 67,596 |  | 2,933 |  | 26,988 |  | 97,517 |  |

| Eliminated on disposal | (332,149 | ) | (160,422 | ) | - |  | (492,571 | ) |

| At 31 December 2024 | 15,125 |  | 2,704 |  | 84,736 |  | 102,565 |  |

| NET BOOK VALUE

| At 31 December 2024 | 166,364 |  | 5,792 |  | 67,993 |  | 240,149 |  |

| At 31 December 2023 | 70,131 |  | 1,367 |  | 45,925 |  | 117,423 |  |

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Trade debtors | 4,194,668 |  | 1,492,026 |  |

| Other debtors | 907,662 |  | 392,552 |  |

5,102,330 |  | 1,884,578 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Bank loans and overdrafts | 228,317 |  | 144,000 |  |

| Trade creditors | 516,100 |  | 405,968 |  |

| Other creditors | 629,348 |  | 386,279 |  |

1,373,765 |  | 936,247 |  |

7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Bank loans | - |  | 228,517 |  |

| Other creditors | 548,642 |  | - |  |

548,642 |  | 228,517 |  |

NARDELLO & CO LLP (REGISTERED NUMBER: OC333720)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

8. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

| 31.12.24 |  | 31.12.23

£ | £ |

| Within one year | 175,000 |  | 175,000 |  |

| Between one and five years | 960,000 |  | 1,135,000 |  |

1,135,000 |  | 1,310,000 |  |

9. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.12.24 |  | 31.12.23

£ | £ |

| Bank loans | 228,317 |  | 372,517 |  |

| The bank loan is secured by way of a debenture against the assets of the company.

10. | LOANS AND OTHER DEBTS DUE TO MEMBERS |

| Loans and other debts due to members rank alongside other unsecured creditors.

11. | PENSION COMMITMENTS

| Nardello & Co LLP makes payments to a defined contribution scheme on behalf of its employees. Amounts charged to the profit and loss account were £119,172 for the year (2023: £82,248). There were no outstanding or prepaid contributions at the balance sheet date.

12. | ULTIMATE CONTROLLING PARTY

| D Nardello is regarded as the person who ultimately controls Nardello & Co LLP.