REGISTERED NUMBER: OC314414 (England and Wales)

Report of the Members and

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

10 Ant Trust LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

P I H Pressland

J E Pressland

REGISTERED OFFICE:

14 Church Street

Whitchurch

Hampshire

RG28 7AB

REGISTERED NUMBER:

OC314414 (England and Wales)

ACCOUNTANTS:

Wheeler & Co Ltd

Chartered Accountants

The Shrubbery

14 Church Street

Whitchurch

Hampshire

RG28 7AB

The members present their report with the financial statements of the LLP for the year ended 31 March 2017.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of property developing and letting

DESIGNATED MEMBERS

The designated members during the year under review were:

P I H Pressland

J E Pressland

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £362,283 (2016 - £5,652 loss).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

J E Pressland - Designated member

19 December 2017

TURNOVER

274,942

231,803

Administrative expenses

(213,245

)

87,206

488,187

144,597

Other operating income

5,131

13,478

OPERATING PROFIT

493,318

158,075

Interest payable and similar expenses

131,035

163,727

PROFIT/(LOSS) FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

362,283

(5,652

)

FIXED ASSETS

Tangible assets

3

5,502,000

4,115,414

CURRENT ASSETS

Debtors

4

45,909

318,474

Cash at bank

67,223

25,788

113,132

344,262

CREDITORS

Amounts falling due within one year

5

996,982

1,010,673

NET CURRENT LIABILITIES

(883,850

)

(666,411

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,618,150

3,449,003

CREDITORS

Amounts falling due after more than one year

6

2,867,914

3,412,279

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,750,236

36,724

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

87,489

-

MEMBERS' OTHER INTERESTS

Capital accounts

36,724

36,724

Revaluation reserve

8

1,626,023

-

1,750,236

36,724

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

87,489

-

Members' other interests

1,662,747

36,724

Amounts due from members

4

(27,539

)

(302,333

)

1,722,697

(265,609

)

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2017.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small LLPs.

The financial statements were approved by the members of the LLP on 19 December 2017 and were signed by:

J E Pressland - Designated member

1.	STATUTORY INFORMATION

10 Ant Trust LLP is registered in England and Wales. The LLP's registered number and registered office address

can be found on the General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 April 2016

4,115,414

1,326

4,116,740

Disposals

(239,437

)

-

(239,437

)

Revaluations

1,626,023

-

1,626,023

At 31 March 2017

5,502,000

1,326

5,503,326

DEPRECIATION

At 1 April 2016

and 31 March 2017

-

1,326

1,326

NET BOOK VALUE

At 31 March 2017

5,502,000

-

5,502,000

At 31 March 2016

4,115,414

-

4,115,414

Cost or valuation at 31 March 2017 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2017

1,626,023

-

1,626,023

Cost

3,875,977

1,326

3,877,303

5,502,000

1,326

5,503,326

If freehold property had not been revalued they would have been included at the following historical cost:

2017

2016

£

£

Cost

3,875,977

-

Freehold property were valued on an open market basis on 30 November 2017 by the partners .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts due from members

27,539

302,333

Other debtors

18,370

16,141

45,909

318,474

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

943,013

970,240

VAT

3,101

3,065

Other creditors

41,743

36,743

Accruals and deferred income

9,125

625

996,982

1,010,673

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans - 2-5 years

2,867,914

3,412,279

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

other creditors take priority over any loans and other debts due to members.

8.

RESERVES

Revaluation

reserve

£

Freehold property

1,626,023

At 31 March 2017

1,626,023