Company registration number 06853328 (England and Wales)
LOW CARBON VEHICLE PARTNERSHIP
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
LOW CARBON VEHICLE PARTNERSHIP
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
LOW CARBON VEHICLE PARTNERSHIP
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Current assets
Debtors
5
212,200
408,939
Cash at bank and in hand
95,412
303,481
307,612
712,420
Creditors: amounts falling due within one year
6
(382,816)
(454,463)
Net current (liabilities)/assets
(75,204)
257,957
Reserves
Strategic reserve
8
242,589
242,589
Income and expenditure account
9
(317,793)
15,368
Members' funds
(75,204)
257,957

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 6 November 2025 and are signed on its behalf by:
Mr P H G Sellwood
Director
Company Registration No. 06853328
LOW CARBON VEHICLE PARTNERSHIP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

Low Carbon Vehicle Partnership is a private company limited by guarantee incorporated in England and Wales. The registered office is 3 Birdcage Walk, Westminster, London, United Kingdom, SW1H 9JJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Income and expenditure

Income comprises of membership and project contributions, government grants, and conference and award fees. When applied, these items are shown net of VAT and discounts. Expenditure measures the costs arising during the year.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
100% on cost
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

LOW CARBON VEHICLE PARTNERSHIP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Taxation

The company's principal activity is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
18,000
12,000
For other services
Taxation compliance services
525
500
All other non-audit services
1,575
1,500
2,100
2,000
LOW CARBON VEHICLE PARTNERSHIP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
11
12
4
Tangible fixed assets
Computers
£
Cost
At 1 April 2024
31,024
Additions
4,033
At 31 March 2025
35,057
Depreciation and impairment
At 1 April 2024
31,024
Depreciation charged in the year
4,033
At 31 March 2025
35,057
Carrying amount
At 31 March 2025
-
0
At 31 March 2024
-
0
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
152,778
388,537
Other debtors
59,422
20,402
212,200
408,939
LOW CARBON VEHICLE PARTNERSHIP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
96,244
109,531
Taxation and social security
46,776
71,922
Deferred income
213,945
239,288
Other creditors
25,851
33,722
382,816
454,463
7
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

8
Strategic reserve
2025
2024
£
£
At the beginning of the year
242,589
370,500
Transfer from income and expenditure account
(127,911)
At the end of the year
242,589
242,589

The strategic reserve represents retained surpluses ring-fenced by the Board for the purposes of providing for the orderly wind down of the organisation in the event of a major loss of funding.

9
Income and expenditure account
2025
2024
£
£
At the beginning of the year
15,368
10,603
Deficit for the year
(333,161)
(123,146)
Transfer to strategic reserve
127,911
At the end of the year
(317,793)
15,368
10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Jack Tatschner ACA
Statutory Auditor:
Azets Audit Services
LOW CARBON VEHICLE PARTNERSHIP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
11
Related party transactions

The company made sales in the year of £152,000 (2024: £493,000) to companies under common directorship. The balance outstanding at the balance sheet date is £704 (2024: £89,000).

The company made total purchases in the year of £58,420 (2024: £31,000) from companies under common directorship. The balance outstanding at the balance sheet date is £Nil (2024: £13,000).

2025-03-31 2024-04-01 false false false 11 November 2025 CCH Software CCH Accounts Production 2025.300 No description of principal activity Mr P M Harris Mr J Laney Professor G Marsden Mr P H G Sellwood Ms P E Oldham Ms A Johnson Dr H W Porter Miss R Pearson Mr J Lippe Mr R W Cuerden Mr T Anderson Mrs T Neech Miss A M Lindt Mr D R Barnett Mr J P Murray Mr J A Hurst Mr J Liver Ms J A E Meek Mr P A Mills Mr J Wilson Ms C L Haigh 06853328 2024-04-01 2025-03-31 06853328 2025-03-31 06853328 2024-03-31 06853328 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 06853328 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 06853328 core:CurrentFinancialInstruments 2025-03-31 06853328 core:CurrentFinancialInstruments 2024-03-31 06853328 core:OtherMiscellaneousReserve 2025-03-31 06853328 core:OtherMiscellaneousReserve 2024-03-31 06853328 core:RetainedEarningsAccumulatedLosses 2025-03-31 06853328 core:RetainedEarningsAccumulatedLosses 2024-03-31 06853328 bus:Director4 2024-04-01 2025-03-31 06853328 core:ComputerEquipment 2024-04-01 2025-03-31 06853328 2023-04-01 2024-03-31 06853328 core:ComputerEquipment 2024-03-31 06853328 core:ComputerEquipment 2025-03-31 06853328 core:ComputerEquipment 2024-03-31 06853328 bus:CompanyLimitedByGuarantee 2024-04-01 2025-03-31 06853328 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 06853328 bus:FRS102 2024-04-01 2025-03-31 06853328 bus:Audited 2024-04-01 2025-03-31 06853328 bus:Director1 2024-04-01 2025-03-31 06853328 bus:Director2 2024-04-01 2025-03-31 06853328 bus:Director3 2024-04-01 2025-03-31 06853328 bus:Director5 2024-04-01 2025-03-31 06853328 bus:Director6 2024-04-01 2025-03-31 06853328 bus:Director7 2024-04-01 2025-03-31 06853328 bus:Director8 2024-04-01 2025-03-31 06853328 bus:Director9 2024-04-01 2025-03-31 06853328 bus:Director10 2024-04-01 2025-03-31 06853328 bus:Director11 2024-04-01 2025-03-31 06853328 bus:Director12 2024-04-01 2025-03-31 06853328 bus:Director13 2024-04-01 2025-03-31 06853328 bus:Director14 2024-04-01 2025-03-31 06853328 bus:Director15 2024-04-01 2025-03-31 06853328 bus:Director16 2024-04-01 2025-03-31 06853328 bus:Director17 2024-04-01 2025-03-31 06853328 bus:Director18 2024-04-01 2025-03-31 06853328 bus:Director19 2024-04-01 2025-03-31 06853328 bus:Director20 2024-04-01 2025-03-31 06853328 bus:Director21 2024-04-01 2025-03-31 06853328 bus:FullAccounts 2024-04-01 2025-03-31 xbrli:pure xbrli:shares iso4217:GBP