ACCOUNTS - Final Accounts preparation

Registered number: OC403475

WOODVIEW LIGHT TRANSPORT LLP

UNAUDITED

MEMBERS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

WOODVIEW LIGHT TRANSPORT LLP

REGISTERED NUMBER: OC403475

BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		332,985		313,205
			332,985		313,205
Current assets
Debtors: amounts falling due within one year	5	148,668		145,519
Cash at bank and in hand	6	5,563		30,795
		154,231		176,314
Creditors: Amounts Falling Due Within One Year	7	(368,453)		(394,627)
Net current liabilities			(214,222)		(218,313)
Total assets less current liabilities			118,763		94,892
Creditors: amounts falling due after more than one year	8		(56,196)		(40,180)
			62,567		54,712

Net assets			62,567		54,712

Represented by:
Loans and other debts due to members within one year
Other amounts	54,712	68,182
Members' other interests
Other reserves classified as equity	7,855	(13,470)
	62,567	54,712

Total members' interests
Loans and other debts due to members	54,712	68,182
Members' other interests	7,855	(13,470)
	62,567	54,712

Page 1

WOODVIEW LIGHT TRANSPORT LLP

REGISTERED NUMBER: OC403475

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:

Michael W Wreford

Designated member

Date: 3 December 2025

The notes on pages 4 to 9 form part of these financial statements.

Woodview Light Transport LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

Page 2


		WOODVIEW LIGHT TRANSPORT LLP

RECONCILIATION OF MEMBERS' INTERESTS

FOR THE 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	Total	Other amounts	Total	Total
	£	£	£	£	£
Loss for the year available for discretionary division among members	(13,470)	(13,470)	-	-	(13,470)
Members' interests after profit for the year	(1,925)	(1,925)	56,637	56,637	54,712
Other division of losses	(11,545)	(11,545)	11,545	11,545	-
Amounts due to members			68,182	68,182
Balance at 31 March 2024	(13,470)	(13,470)	68,182	68,182	54,712
Profit for the year available for discretionary division among members	7,855	7,855	-	-	7,855
Members' interests after profit for the year	(5,615)	(5,615)	68,182	68,182	62,567
Other division of profits	13,470	13,470	(13,470)	(13,470)	-
Amounts due to members			54,712	54,712
Balance at 31 March 2025	7,855	7,855	54,712	54,712	62,567

Page 3

WOODVIEW LIGHT TRANSPORT LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Woodview Light Transport LLP is a limited liability partnership, registered in England and Wales, registered number OC403475. The registered office and principal place of business is Silvanus Park, Edgar Mobbs Way, Northampton, NN5 5JT.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

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

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.

Page 4

WOODVIEW LIGHT TRANSPORT LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.3

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the bases set out below.

Depreciation is provided on the following basis:

Commercial Vehicles	-	10% straight line over 5 years, then 25% reducing balance
Non-Commerical Vehicles	-	25%/15% straight line over 3 years, then 25% reducing balance
Other fixed assets	-	15% 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.

2.4

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.

2.5

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.

2.6

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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found,

Page 5

WOODVIEW LIGHT TRANSPORT LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.6

Financial instruments (continued)

an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the LLP would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

2.7

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.

2.8

Pensions

Defined contribution pension plan

The LLP operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the LLP pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the LLP in independently administered funds.

Employees

The average monthly number of employees, including directors, during the year was 9 (2024 - 12).

Page 6

WOODVIEW LIGHT TRANSPORT LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4.	Tangible fixed assets

	Motor vehicles	Other fixed assets	Total
	£	£	£
Cost or valuation
At 1 April 2024	1,124,974	4,101	1,129,075
Additions	79,400	-	79,400
Disposals	(123,026)	(4,101)	(127,127)
At 31 March 2025	1,081,348	-	1,081,348
Depreciation
At 1 April 2024	811,771	4,099	815,870
Charge for the year	61,122	-	61,122
Disposals	(124,530)	(4,099)	(128,629)
At 31 March 2025	748,363	-	748,363
Net book value
At 31 March 2025	332,985	-	332,985
At 31 March 2024	313,203	2	313,205

Page 7

WOODVIEW LIGHT TRANSPORT LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Debtors

					2025	2024
					£	£


Trade debtors	140,285	125,848
Other debtors	8,383	19,671
	148,668	145,519

6.	Cash and cash equivalents
		2025	2024
		£	£

	Cash at bank and in hand	5,563	30,795

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

Trade creditors	280,714	318,803
Other taxation and social security	10,062	19,331
Obligations under finance lease and hire purchase contracts	55,742	38,576
Other creditors	3,936	3,907
Accruals and deferred income	17,999	14,010
	368,453	394,627

Included within creditors falling due within one year is £55,742 (2024 - £38,576) in respect of hire purchase agreements which are secured against the assets to which they relate.

8.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

	Net obligations under finance leases and hire purchase contracts	56,196	40,180

Included within creditors falling due after more than one year is £56,196 (2024 - £40,180) in respect of hire purchase agreements which are secured against the assets to which they relate.

Page 8

WOODVIEW LIGHT TRANSPORT LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

9.	Pension commitments

The LLP operates a defined contribution pension scheme in respect of selected employees. The assets of the scheme are held separately from those of the company in independently administered funds. The amount of pension payments outstanding at the year end totalled £939 (2024 - £969).

Page 9