Line a 9x13 cake pan or cookie sheet with parchment paper and set aside.
Place almonds on a cookie sheet and toast in a 350 degree oven. Set a timer for 7-8 minutes.
Meanwhile, place butter, sugar and water in a medium large heavy bottom saucepan over medium heat. Bring to a boil, stirring ingredients to combine as the butter melts.
Continue to boil on medium, stirring only occasionally, until mixture begins to turn golden brown. Total cook time with be approximately 20 minutes. During this time your almonds will finish toasting; remove them from the oven and chop them into small pieces.
Continue cooking the toffee until mixture is the color of peanut butter or 305-310 degrees Fahrenheit. Give it a couple good stirs, then pour it out onto the prepared baking dish or cookie pan.
Wait ten minutes, then sprinkle the chocolate chips evenly over the toffee. Wait a few more minutes, then spread the chocolate out into an even layer and sprinkle on the nuts. Gently press the nuts into the chocolate.
Allow the toffee to cool completely and the chocolate to set up completely before cutting or breaking into bite size pieces.