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Registration number: OC453098

Prepared for the registrar
Witney Modern Equitation Centre LLP
Unaudited Filleted Financial Statements
for the period from 19 July 2024 to 31 March 2025

Witney Modern Equitation Centre LLP

Contents

Limited liability partnership information | 1
Balance Sheet | 2
Notes to the Financial Statements | 3 to 5

Witney Modern Equitation Centre LLP

Limited liability partnership information

Designated members | Elizabeth Ann James Richard Glynn James

Members | Kelly Marie Bates Cerys Jane Carrington Victoria Kathleen Mary Smith

Registered office | Witney Pony Partners Crawley Road Witney Oxfordshire OX29 9TG

Accountants | Hazlewoods LLP Staverton Court Staverton Cheltenham Gloucestershire GL51 0UX

Witney Modern Equitation Centre LLP

(Registration number: OC453098)
Balance Sheet as at 31 March 2025

| Note | 31 March 2025 £
Fixed assets |  |
Tangible assets | 3 | 1,278
Current assets |  |
Cash and short-term deposits |  | 4,418
Creditors: Amounts falling due within one year | 4 | (4,600)
Net current liabilities |  | (182)
Net assets attributable to members |  | 1,096
Represented by: |  |
Members’ other interests |  |
Members' capital classified as equity |  | 1,096
|  | 1,096
Total members' interests |  |
Equity |  | 1,096
|  | 1,096

For the year ending 31 March 2025 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of Witney Modern Equitation Centre LLP (registered number OC453098) were approved by the members and authorised for issue on 30 January 2026. They were signed on behalf of the limited liability partnership by:

......................................... Elizabeth Ann James Designated member | ......................................... Richard Glynn James Designated member |

Witney Modern Equitation Centre LLP

Notes to the Financial Statements for the Period from 19 July 2024 to 31 March 2025

1 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Members' remuneration and division of profits

The profits of the LLP are automatically divided among the members in accordance with the agreed profit share arrangements.
A member's share of the profit or loss for the year is accounted for as an allocation of profits.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation for impairment.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class | Depreciation method and rate
Plant and machinery | 10% reducing balance
Fixtures and fittings | 10% reducing balance

Stock, work in progress and long term contracts

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Witney Modern Equitation Centre LLP

Notes to the Financial Statements for the Period from 19 July 2024 to 31 March 2025

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the LLP does not have an unconditional right, at the end of the reporting period, to deferred settlement of the creditor for at least twelve months after the reporting date, they are presented as non - current liabilities.
Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

Financial instruments

Classification

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a finance transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the balance sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the limited liability partnership intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Recognition and Measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Impairment of financial assets

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the limited liability partnership transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the limited liability partnership, despite having retained some significant risks and rewards of ownership, has transferred control of the asset to another party and the other party has the practical ability to sell the asset in its entirety to an unrelated third party and is able to exercise that ability unilaterally and without needing to impose additional restrictions on the transfer.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

2 | Particulars of employees

The average number of persons employed by the limited liability partnership during the period was 11.

Witney Modern Equitation Centre LLP

Notes to the Financial Statements for the Period from 19 July 2024 to 31 March 2025

3 | Tangible fixed assets

| Plant and machinery £ | Fixtures and fittings £ | Total £
Cost |  |  |
Additions | 399 | 1,021 | 1,420
At 31 March 2025 | 399 | 1,021 | 1,420
Depreciation |  |  |
Charge for the year | 40 | 102 | 142
At 31 March 2025 | 40 | 102 | 142
Net book value |  |  |
At 31 March 2025 | 359 | 919 | 1,278

4 | Creditors: Amounts falling due within one year

| 2025 £
Accruals and deferred income | 4,600

5 | Control

The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.