Nichols & Co (Accounting) LLP

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: OC422763

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		281,020		281,020
Tangible Assets	5		59,422		59,422

			340,442		340,442
CURRENT ASSETS
Stocks	6	216,735		125,581
Debtors	7	205,130		190,340
Cash at bank and in hand		(745 )		152

		421,120		316,073
Creditors: Amounts Falling Due Within One Year	8	(303,644 )		(263,271 )

NET CURRENT ASSETS (LIABILITIES)			117,476		52,802

TOTAL ASSETS LESS CURRENT LIABILITIES			457,918		393,244

Creditors: Amounts Falling Due After More Than One Year	9		(13,333 )		(22,433 )

NET ASSETS ATTRIBUTABLE TO MEMBERS			444,585		370,811

REPRESENTED BY:
Loans and other debts due to members
Other amounts		112,870		120,811

			112,870		120,811

Equity
Members' other interests
Members' capital		331,715		250,000

			331,715		250,000

			444,585		370,811

TOTAL MEMBERS' INTEREST
Loans and other debts due to members			112,870		120,811
Members' other interests			331,715		250,000

			444,585		370,811

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Nichols & Co (Accounting) LLP

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

On behalf of the members

Mr S Nichols

Designated Member

29/09/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Nichols & Co (Accounting) LLP is a limited liability partnership, incorporated in England & Wales, registered number OC422763 . The Registered Office is Unit 7, Mulberry Place, Pinnell Road, Eltham, London, SE9 6AR.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	25% on reducing balance
Computer Equipment	25% on reducing balance

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: 4 (2023: 4)

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Nichols & Co (Accounting) LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2024	281,020

As at 31 December 2024	281,020

Net Book Value
As at 31 December 2024	281,020

As at 1 January 2024	281,020

5. Tangible Assets

	Plant & Machinery etc.
	£
Cost
As at 1 January 2024	60,011

As at 31 December 2024	60,011

Depreciation
As at 1 January 2024	589

As at 31 December 2024	589

Net Book Value
As at 31 December 2024	59,422

As at 1 January 2024	59,422

6. Stocks

	2024	2023
	£	£
Work in progress	216,735	125,581

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	204,624	188,169
Other debtors	506	2,171

	205,130	190,340

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Nichols & Co (Accounting) LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	11,700	525
Bank loans and overdrafts	-	134,433
Other creditors	243,530	94,807
Taxation and social security	48,414	33,506

	303,644	263,271

9. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	13,333	22,433

10. 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.

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