ACCOUNTS - Final Accounts

Registered number: OC333130

W R NICHOLLS PROPERTY LLP

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 March 2025

W R NICHOLLS PROPERTY LLP

Registered number: OC333130

BALANCE SHEET

AS AT 31 March 2025

		2025		2024
Note		£		£

Fixed assets
Investments	5		490,000		490,000
			490,000		490,000
Current assets
Debtors: amounts falling due within one year	6	3,092		2,162
Cash at bank and in hand	7	64,214		109,765
		67,306		111,927
Creditors: Amounts Falling Due Within One Year	8	(17,134)		(16,810)
Net current assets			50,172		95,117
Total assets less current liabilities			540,172		585,117

Net assets			540,172		585,117

Represented by:
Loans and other debts due to members within one year
Members' other interests
Members' capital classified as equity	491,000		491,000
Other reserves classified as equity	49,172		94,117
		540,172		585,117
		540,172		585,117

Total members' interests
Members' other interests	540,172	585,117
	540,172	585,117

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W R NICHOLLS PROPERTY LLP

Registered number: OC333130

BALANCE SHEET (CONTINUED)

AS AT 31 March 2025

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

The entity 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.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

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

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf by:

C Brett

Designated member

Date: 17 December 2025

The notes on pages 3 to 6 form part of these financial statements.

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W R NICHOLLS PROPERTY LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

W R Nicholls Property LLP is a limited liability partnership incorporated in England and Wales. The registered office is Charles Lake House, Claire Causeway, Crossways Business Park, Dartford, England, DA2 6QA. The principal activity of the LLP is commercial property investment.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006 and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liabilities Partnerships'. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the LLP will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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W R NICHOLLS PROPERTY LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.4

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:

Fixtures & Fittings

25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.5

Investment property

Investment property is carried at fair value determined annually by the members and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

Financial instruments

The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Employees

The entity has no employees.

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W R NICHOLLS PROPERTY LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4.	Tangible fixed assets

		Fixtures & Fittings
		£

	At 1 April 2024	445
	Disposals	(445)
	At 31 March 2025	-

	At 1 April 2024	445
	Disposals	(445)
	At 31 March 2025	-
	Net book value
	At 31 March 2025	-
	At 31 March 2024	-

5.	Fixed asset investments

		Freehold Property Investments
		£
	Cost or valuation
	At 1 April 2024	490,000
	At 31 March 2025	490,000

Investment property was valued on an open market basis on 31 March 2025 by the members.

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W R NICHOLLS PROPERTY LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Debtors

					2025	2024
					£	£


Other debtors	1,900	-
Prepayments	1,192	2,162
	3,092	2,162

7.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	64,214	109,765
	64,214	109,765

8.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Other creditors	14,550	14,550
Accruals	2,584	2,260
	17,134	16,810

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