REGISTERED NUMBER: OC380071 (England and Wales)

Audited Financial Statements for the Year Ended 31 December 2024

for

Carole Nash Legal Services LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Designated members:

Carole Nash Insurance Consultants Limited

NewLaw Legal Limited

Ms N Edwards

Registered office:

Helmont House

Churchill Way

Cardiff

CF10 2HE

Registered number:

OC380071 (England and Wales)

Auditors:

Menzies LLP, Statutory Auditors

5th Floor Hodge House

114-116 St Mary Street

Cardiff

CF10 1DY

Bankers:

Santander Commercial and Corporate Banking

Bridle Road

Bootle

Merseyside

L30 4GB

Current assets

Accrued income

812,535

1,661,240

Debtors

4

1,254,762

1,981,631

Cash at bank

320,728

128,330

2,388,025

3,771,201

Creditors

Amounts falling due within one year

5

(517,347

)

(826,808

)

Net current assets

1,870,678

2,944,393

Total assets less current liabilities

and

Net assets attributable to members

1,870,678

2,944,393

Loans and other debts due to members

6

1,870,676

2,944,391

Members' other interests

Capital accounts

2

2

1,870,678

2,944,393

Total members' interests

Loans and other debts due to members

6

1,870,676

2,944,391

Members' other interests

2

2

1,870,678

2,944,393

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 29 September 2025 and were signed by:

Ms N Edwards - Designated member

1.	Statutory information

Carole Nash Legal Services LLP was incorporated and 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 represents amounts chargeable, net of value added tax in respect of the provision of legal services to customers. In accordance with FRS 102, turnover in respect of cases which are contingent on future events which are outside the control of the partnership is not recognised until the contingent event has occurred.

Accrued income

Profit is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. On fixed fee cases the profit included is calculated based on the proportion of the work carried out at the year end by recording turnover and related costs on each case. Turnover is calculated as that proportion of total case value which costs incurred to date bear to total costs for each case. The remaining revenue is only recognised on completion of the case.

On variable fee cases the profit is calculated based on the recoverable value of time worked on each case during the year less the related cost incurred on each case.

No value is placed on accrued income in respect of contingent fee cases in accordance with FRS102 where there is insufficient certainty as to the outcome of the case to justify the recognition as an asset.

Member's remuneration

Each corporate member may draw on account of the profits for each relevant accounting period and historic periods. If any member withdraws funds in excess of its profit share within an accounting period, the excess drawings must be repaid to the LLP immediately.

A member's share of the profit or loss for the year is accounted for as an allocation of profits.

Going concern

Carole Nash Insurance Consultants Limited have served notice as of September 2019 and are no longer providing new cases. The accounts are prepared under a going concern basis as management believe that the entity will continue for the foreseeable future and for at least 12 months from the balance sheet date.

3.	Employee information

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

4.

Debtors: amounts falling due within one year

2024

2023

£

£

Trade debtors

409,898

347,277

Other debtors

811,212

1,596,021

Prepayments

33,652

38,333

1,254,762

1,981,631

5.

Creditors: amounts falling due within one year

2024

2023

£

£

VAT

105,325

45,050

Other creditors

375,983

720,786

Accrued expenses

36,039

60,972

517,347

826,808

6.

Loans and other debts due to members

2024

2023

£

£

Amounts owed to members in respect of profits

1,870,676

2,944,391

Falling due within one year

1,870,676

2,944,391

Upon winding up of the LLP, amounts in loans and other debts due to members shall be paid by the liquidator on the basis of each member's respective entitlements after payment of all money due to the creditors of the LLP and after all expenses of the winding up.

There are no restrictions or limitations which exist on the ability of the members to reduce the amount

of 'Members' other interests'.

7.	Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Victoria Carter (Senior Statutory Auditor)

for and on behalf of Menzies LLP, Statutory Auditors

8.	Ultimate controlling party