10 Ant Trust LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC314414 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2018

for

10 Ant Trust LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

FIXED ASSETS

Tangible assets

3

4,220,000

5,502,000

CURRENT ASSETS

Debtors

4

19,173

45,909

Cash at bank

148,473

67,223

167,646

113,132

CREDITORS

Amounts falling due within one year

5

1,502,014

996,982

NET CURRENT LIABILITIES

(1,334,368

)

(883,850

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,885,632

4,618,150

CREDITORS

Amounts falling due after more than one
year

6

1,424,290

2,867,914

NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,461,342

1,750,236

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

546,622

87,489

MEMBERS' OTHER INTERESTS

Capital accounts

16,395

36,724

Revaluation reserve

8

1,626,023

Fair value reserve

8

(727,698

)

-

1,461,342

1,750,236

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

546,622

87,489

Members' other interests

914,720

1,662,747

Amounts due from members

4

-

(27,539

)

1,461,342

1,722,697

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 2018.

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 and delivered 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.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP on 16 July 2018 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 2017

5,502,000

1,326

5,503,326

Disposals

(554,302

)

(1,326

)

(555,628

)

Revaluations

(727,698

)

-

(727,698

)

At 31 March 2018

4,220,000

-

4,220,000

DEPRECIATION

At 1 April 2017

-

1,326

Eliminated on disposal

-

(1,326

)

(1,326

)

At 31 March 2018

-

NET BOOK VALUE

At 31 March 2018

4,220,000

-

4,220,000

At 31 March 2017

5,502,000

-

5,502,000

Cost or valuation at 31 March 2018 is represented by:

Land and

buildings

£

Valuation in 2017

1,626,023

Valuation in 2018

(1,282,000

)

344,023

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

2018

2017

£

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

2018

2017

£

Amounts due from members

-

27,539

Other debtors

19,173

18,370

19,173

45,909

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

Bank loans and overdrafts

1,458,000

943,013

VAT

8,161

3,101

Other creditors

35,228

41,743

Accruals and deferred income

625

9,125

1,502,014

996,982

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2018

2017

£

Bank loans - 2-5 years

1,424,290

2,867,914

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

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

8.

RESERVES

Fair

Revaluation

value

reserve

Totals

£

At 1 April 2017

1,626,023

-

1,626,023

Freehold property

-

(727,698

)

(727,698

)

At 31 March 2018

1,626,023

(727,698

)

898,325