I send an all about me type document. This includes child's photo, home info, personality traits, likes/dislikes, friends etc. I also then send a summative assessment for each child. We used to do a transition report but it was quite a task and I felt it was not relevant as the children were then going to have a six week summer holiday and then possibly slightly regress on starting school.
Don't stress about Ofsted, you are not doing it for them, as long as you can prove that you have something in place that shares your knowledge of the children and how you share it that is all that matters.
(My LA is Cornwall)