Company No: OC445080 (England and Wales)

Contents

• Balance Sheet
• Reconciliation of Members' Interests
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	4	58,113		68,251
Investments	5	70		70
		58,183		68,321
Current assets
Debtors	6	481,880		654,856
Cash at bank and in hand	7	1,207,639		1,449,600
		1,689,519		2,104,456
Creditors: amounts falling due within one year	8	( 548,916)		( 568,114)
Net current assets		1,140,603		1,536,342
Total assets less current liabilities		1,198,786		1,604,663
Creditors: amounts falling due after more than one year	9	0		( 34,390)
Net assets attributable to members		1,198,786		1,570,273
Represented by
Loans and other debts due to members within one year
Other amounts		798,786		1,170,273
		798,786		1,170,273
Members' other interests
Members' capital classified as equity		400,000		400,000
		400,000		400,000
		1,198,786		1,570,273
Total members' interests
Loans and other debts due to members		798,786		1,170,273
Members' other interests		400,000		400,000
		1,198,786		1,570,273

For the financial year ending 31 March 2026 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 Profit and Loss Account has not been delivered.

The financial statements of Woolley & Wallis LLP (registered number: OC445080) were approved and authorised for issue by the members on 14 July 2026. They were signed on its behalf by:

Mr A J A Donald Designated member

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

Woolley & Wallis 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 51-61 Castle Street, Salisbury, SP1 3SU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 LLP and rounded to the nearest £.

Turnover

Turnover in the form of fees from services is stated net of VAT and discounts and is recognised when the service is delivered, except for commissions earned on property sales that are not recognised until the transaction is completed. Fees for ongoing services, or where work has been completed and quantum of fees income can be measured with certainty, but not invoiced by the balance sheet are recognised as turnover and included within debtors.

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:

Leasehold improvements	10 % reducing balance
Plant and machinery	4 - 10 years straight line
Vehicles	25 % reducing balance

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.

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 Profit and Loss Account 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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the LLP becomes a party to the contractual provisions of the instrument.

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 LLP after deducting all of its liabilities.

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 LLP intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the LLP has a present obligation (legal or constructive) as a result of a past event, it is probable that the LLP will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the LLP during the year	50		51

3. Members' remuneration

Profits are shared among the members in accordance with agreed profit sharing arrangements. Members are required to make their own provision for pensions from their profit shares.

	2026		2025
	Number		Number
Average number of members during the financial year	5		5

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Total
	£		£		£		£
Cost
At 01 April 2025	18,868		79,204		8,313		106,385
Additions	0		10,073		0		10,073
Disposals	( 1,000)		( 1,413)		0		( 2,413)
At 31 March 2026	17,868		87,864		8,313		114,045
Accumulated depreciation
At 01 April 2025	7,362		27,525		3,247		38,134
Charge for the financial year	2,876		15,433		1,266		19,575
Disposals	( 543)		( 1,234)		0		( 1,777)
At 31 March 2026	9,695		41,724		4,513		55,932
Net book value
At 31 March 2026	8,173		46,140		3,800		58,113
At 31 March 2025	11,506		51,679		5,066		68,251

5. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 April 2025	70		70
At 31 March 2026	70		70
Carrying value at 31 March 2026	70		70
Carrying value at 31 March 2025	70		70

Investments in shares

Name of entity	Registered office	Principal activity	Class of shares	Ownership 31.03.2026	Ownership 31.03.2025	Held
Woolley & Wallis Finance Limited	Hitchcock House, Hilltop Park, Salisbury SP3 4UF	Financial intermediary	Ordinary	70.00%	70.00%	Direct
Gilyard Scarth Lettings Limited	The Old Coffee Tavern, Salisbury Street, Mere BA12 6HA	Property letting agents	Ordinary	0.00%	100.00%	Direct
Avon Management Limited	51-61 Castle Street, Salisbury SP1 3SU	Property letting agents	Ordinary	0.00%	100.00%	Direct

On 8 July 2025 Avon Management Limited was dissolved, following the transfer of business to Woolley & Wallis LLP on 30 September 2024
On 2 September 2025 Gilyard Scarth Lettings Limited was dissolved, following the transfer of business to Woolley & Wallis LLP on 31 January 2024

6. Debtors

	2026		2025
	£		£
Trade debtors	268,877		369,799
Amounts owed by related parties	40,889		140,903
Other debtors	172,114		144,154
	481,880		654,856

7. Cash and cash equivalents

	2026		2025
	£		£
Cash at bank and in hand	1,207,639		1,449,600

8. Creditors: amounts falling due within one year

	2026		2025
	£		£
Bank loans (secured)	34,290		43,222
Trade creditors	119,659		86,424
Other taxation and social security	228,064		243,283
Other creditors	166,903		195,185
	548,916		568,114

The bank loan above £34,290 (2025: £43,222) is secured by a fixed and floating charge held by Lloyds Bank plc dated 27 February 2023 over the LLP's assets.

9. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Bank loans (secured)	0		34,390

The bank loan above £0 (2025: £34,390) is secured by a fixed and floating charge held by Lloyds Bank plc dated 27 February 2023 over the LLP's assets.

10. Financial commitments

Commitments

	2026		2025
	£		£
Total future minimum lease payments under non-cancellable operating leases	334,315		516,690

11. Related party transactions

Other related party transactions

	2026		2025
	£		£
Loan to related party	40,889		140,903

During the period, an interest-free loan, that is repayable on demand, was advanced to an unincorporated partnership in which all five of the LLP's members are partners.