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Company No: OC304717 (England and Wales)

# THE WOODLEY COLES LLP

### Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

THE WOODLEY COLES LLP

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

THE WOODLEY COLES LLP

## LIMITED LIABILITY PARTNERSHIP INFORMATION

For the financial year ended 31 March 2025
THE WOODLEY COLES LLP

## LIMITED LIABILITY PARTNERSHIP INFORMATION (continued)

For the financial year ended 31 March 2025

Designated members | S P Coles
| C Norris

Registered office | 2nd Floor
| 168 Shoreditch High Street
| London
| E1 6RA
| United Kingdom

Registered number | OC304717 (England and Wales)

Accountant | Kreston Reeves LLP
| 37 St Margarets Street
| Canterbury
| Kent
| CT1 2TU

## ACCOUNTANTS' REPORT TO THE MEMBERS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE WOODLEY COLES LLP

For the financial year ended 31 March 2025

## ACCOUNTANTS' REPORT TO THE MEMBERS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE WOODLEY COLES LLP (continued)

For the financial year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to Limited Liability Partnerships, we have prepared for your approval the financial statements of The Woodley Coles LLP for the financial year ended 31 March 2025 which comprise the Balance Sheet, the Reconciliation of Members' Interests and the related notes 1 to 9 from the LLP’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.
It is your duty to ensure that The Woodley Coles LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Woodley Coles LLP. You consider that The Woodley Coles LLP is exempt from the statutory audit requirement for the financial year.
We have not been instructed to carry out an audit or a review of the financial statements of The Woodley Coles LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the members of The Woodley Coles LLP, as a body, in accordance with the terms of our engagement letter dated 05 September 2023. Our work has been undertaken solely to prepare for your approval the financial statements of The Woodley Coles LLP and state those matters that we have agreed to state to members of The Woodley Coles LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Woodley Coles LLP and its members as a body for our work or for this report.

Kreston Reeves LLP
Chartered Accountants

37 St Margarets Street
Canterbury
Kent
CT1 2TU

02 October 2025

THE WOODLEY COLES LLP

## BALANCE SHEET

As at 31 March 2025
THE WOODLEY COLES LLP

## BALANCE SHEET (continued)

As at 31 March 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 44,966 |  | 58,644
|  | 44,966 |  | 58,644
Current assets |  |  |  |
Debtors | 4 | 408,308 |  | 550,806
Cash at bank and in hand |  | 409,271 |  | 226,019
|  | 817,579 |  | 776,825
Creditors: amounts falling due within one year | 5 | ( 295,478) |  | ( 305,612)
Net current assets |  | 522,101 |  | 471,213
Total assets less current liabilities |  | 567,067 |  | 529,857
Creditors: amounts falling due after more than one year | 68 | ( 26,520) |  | ( 30,421)
Net assets attributable to members |  | 540,547 |  | 499,436
Represented by |  |  |  |
Loans and other debts due to members within one year |  |  |  |
Members' capital classified as a liability |  | 540,547 |  | 499,436
|  | 540,547 |  | 499,436
Members' other interests |  |  |  |
|  | 0 |  | 0
|  | 540,547 |  | 499,436
Total members' interests |  |  |  |
Loans and other debts due to members |  | 540,547 |  | 499,436
|  | 540,547 |  | 499,436

For the financial year ending 31 March 2025 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.

Members' responsibilities:

- 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; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of The Woodley Coles LLP (registered number: OC304717) were approved and authorised for issue by the Board of Directors on 24 September 2025. They were signed on its behalf by:

S P Coles Designated member |

THE WOODLEY COLES LLP

## RECONCILIATION OF MEMBERS' INTERESTS

For the financial year ended 31 March 2025
THE WOODLEY COLES LLP

## RECONCILIATION OF MEMBERS' INTERESTS (continued)

For the financial year ended 31 March 2025

| EQUITY Members' other interests | DEBT Loans and other debts due to members less any amounts due from members in debtors | Total members' interests
--- | --- | --- | ---
| Other reserves | Members' capital (classified as debt) | Total
| £ | £ | £
Amounts due to members |  | 418,382 |
Balance at 01 April 2023 | 0 | 418,382 | 418,382
Profit for the financial year available for discretionary division among members | 646,928 | 0 | 646,928
Members' interest after profit for the financial year | 646,928 | 418,382 | 1,065,310
Repayment of capital | 0 | 1,624 | 1,624
Division of profit | (646,928) | 646,928 | 0
Drawings | 0 | (567,498) | (567,498)
Amounts due to members |  | 499,436 |
Balance at 31 March 2024 | 0 | 499,436 | 499,436
Profit for the financial year available for discretionary division among members | 662,352 | 0 | 662,352
Members' interest after profit for the financial year | 662,352 | 499,436 | 1,161,788
Repayment of capital | 0 | 1,125 | 1,125
Division of profit | (662,352) | 662,352 | 0
Drawings | 0 | (622,366) | (622,366)
Amounts due to members |  | 540,547 |
Balance at 31 March 2025 | 0 | 540,547 | 540,547

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests

THE WOODLEY COLES LLP

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
THE WOODLEY COLES LLP

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

The Woodley Coles LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is 2nd Floor, 168 Shoreditch High Street, London, E1 6RA, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings | depreciated over the life of the lease
Plant and machinery | 4 years straight line
Vehicles | 4 years straight line
Fixtures and fittings | 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Leases

The LLP as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Comprehensive Income over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted
salary cost of the future holiday entitlement so accrued at the balance sheet date.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the LLP during the year | 17 |  | 18

#### 3. Tangible assets

| Land and buildings |  | Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Total
| £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |
At 01 April 2024 | 12,662 |  | 69,370 |  | 95,825 |  | 163 |  | 178,020
Additions | 0 |  | 12,262 |  | 0 |  | 0 |  | 12,262
At 31 March 2025 | 12,662 |  | 81,632 |  | 95,825 |  | 163 |  | 190,282
Accumulated depreciation |  |  |  |  |  |  |  |  |
At 01 April 2024 | 12,662 |  | 45,055 |  | 61,598 |  | 61 |  | 119,376
Charge for the financial year | 0 |  | 13,267 |  | 12,632 |  | 41 |  | 25,940
At 31 March 2025 | 12,662 |  | 58,322 |  | 74,230 |  | 102 |  | 145,316
Net book value |  |  |  |  |  |  |  |  |
At 31 March 2025 | 0 |  | 23,310 |  | 21,595 |  | 61 |  | 44,966
At 31 March 2024 | 0 |  | 24,315 |  | 34,227 |  | 102 |  | 58,644

The Net Book Value of assets held under HP for the year was £15,133 (2024: £27,765)

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 351,660 |  | 496,943
Prepayments | 55,472 |  | 52,687
Other debtors | 1,176 |  | 1,176
| 408,308 |  | 550,806

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 13,573 |  | 17,107
Accruals | 27,711 |  | 28,416
Other taxation and social security | 102,860 |  | 108,771
Obligations under finance leases and hire purchase contracts | 3,653 |  | 3,137
Other creditors | 147,681 |  | 148,181
| 295,478 |  | 305,612

#### 6. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Obligations under finance leases and hire purchase contracts | 26,520 |  | 30,421

#### 7. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

| 2025 |  | 2024
| £ |  | £
within one year | 54,102 |  | 54,102
between one and five years | 77,322 |  | 134,489
| 131,424 |  | 188,591

#### 8. Loans and other debts due to members

| 2025 |  | 2024
| £ |  | £
Other amounts due to members | 533,741 |  | 499,436

#### 9. Ultimate controlling party

The LLP is under control of its designated members.