REGISTERED NUMBER: OC432701 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

JOHN NICHOLLS RACING LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mr J A M Nicholls

Mrs J Nicholls

REGISTERED OFFICE:

1 Somerville Court

Trinity Way

Adderbury

Banbury

Oxfordshire

OX17 3SN

REGISTERED NUMBER:

OC432701 (England and Wales)

ACCOUNTANTS:

Bronsens

Chartered Certified Accountants

Eden House

Two Rivers Business Park

Witney

Oxfordshire

OX28 4BL

FIXED ASSETS

Investments

4

247,124

257,127

CURRENT ASSETS

Debtors

5

29,546

46,384

Cash at bank

41,385

19,315

70,931

65,699

CREDITORS

Amounts falling due within one year

6

48,598

59,444

NET CURRENT ASSETS

22,333

6,255

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

269,457

263,382

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

269,457

263,382

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

269,457

263,382

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 March 2025.

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.

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 26 November 2025 and were signed by:

Mr J A M Nicholls - Designated member

1.	STATUTORY INFORMATION

John Nicholls Racing LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The financial statements are presented in sterling which is the functional currency of the limited liability partnership and rounded to the nearest £.

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents prize monies and sponsorship income received or receivable during the period.

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.

Investments in race horses

The investments in race horses are shown at cost less any impairment where the market value of the horse is deemed by the members to be less than cost.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2024 - NIL).

4.	FIXED ASSET INVESTMENTS

Race

horses

£

COST OR VALUATION

At 1 April 2024

257,127

Disposals

(3

)

Reclassification/transfer

(10,000

)

At 31 March 2025

247,124

NET BOOK VALUE

At 31 March 2025

247,124

At 31 March 2024

257,127

Cost or valuation at 31 March 2025 is represented by:

Race

horses

£

Valuation in 2022

(1,319

)

Valuation in 2023

(109,516

)

Valuation in 2024

(137,648

)

Valuation in 2025

(10,000

)

Cost

505,607

247,124

At 31 March 2025 investments have been written down to reflect the members' assessment of their market values. The cost of the investments is £505,607.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

19,200

-

VAT

3,411

37,992

Prepayments

6,935

8,392

29,546

46,384

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

17,368

29,961

Accruals and deferred income

31,230

29,483

48,598

59,444

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

31.3.25

31.3.24

£

£

Amounts owed to members in respect of profits

269,457

263,382

Falling due within one year

269,457

263,382

The loans and other debts due to members would not be withdrawn in preference to paying third party creditors.