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TERRY ADAMS RESIDENTIAL LLP |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2017 |
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TERRY ADAMS RESIDENTIAL LLP |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2017 |
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TERRY ADAMS RESIDENTIAL LLP (REGISTERED NUMBER: OC347417) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2017 |
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Page |
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General Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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TERRY ADAMS RESIDENTIAL LLP |
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GENERAL INFORMATION |
for the Year Ended 31 March 2017 |
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DESIGNATED MEMBERS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants & |
Chartered Tax Advisers |
22 Union Street |
Newton Abbot |
Devon |
TQ12 2JS |
TERRY ADAMS RESIDENTIAL LLP (REGISTERED NUMBER: OC347417) |
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BALANCE SHEET |
31 March 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET ASSETS ATTRIBUTABLE TO
MEMBERS |
6,013,929 |
4,052,738 |
TERRY ADAMS RESIDENTIAL LLP (REGISTERED NUMBER: OC347417) |
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BALANCE SHEET - continued |
31 March 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
LOANS AND OTHER DEBTS DUE TO
MEMBERS |
8 |
6,012,929 |
4,052,738 |
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MEMBERS' OTHER INTERESTS |
Capital accounts | 1,000 | - |
6,013,929 | 4,052,738 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 8 | 6,012,929 | 4,052,738 |
Members' other interests | 1,000 | - |
6,013,929 | 4,052,738 |
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The members acknowledge their responsibilities for: |
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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. |
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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. |
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The financial statements were approved by the members of the LLP on
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TERRY ADAMS RESIDENTIAL LLP (REGISTERED NUMBER: OC347417) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2017 |
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1. | STATUTORY INFORMATION |
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Terry Adams Residential LLP is registered in England and Wales. The LLP's registered number and registered |
office address can be found on the General Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Investment property |
No depreciation is provided in respect of the investment properties in accordance with the Financial Reporting |
Standard for Smaller Entities (effective April 2008). Such properties are held for their investment potential and |
not for consumption within the business. This is a departure from the Companies Act 2006 which requires all |
properties to be depreciated and the members consider that to depreciate them would not enable the financial |
statements to give a true and fair view. Investment properties are stated at their accumulated cost at the balance |
sheet date. |
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3. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 April 2016 |
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Additions |
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At 31 March 2017 |
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DEPRECIATION |
At 1 April 2016 |
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Charge for year |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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TERRY ADAMS RESIDENTIAL LLP (REGISTERED NUMBER: OC347417) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2017 |
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4. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 April 2016 |
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Additions |
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Revaluations | 189,621 |
At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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Fair value at 31 March 2017 is represented by: |
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£ |
Valuation in 2015 | 250,345 |
Valuation in 2016 | 262,293 |
Valuation in 2017 | 189,621 |
Cost | 5,262,741 |
5,965,000 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Other creditors |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Other creditors |
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Amounts falling due in more than five years: |
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Repayable otherwise than by instalments |
Other loans more 5yrs non-inst |
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8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
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The loans are unsecured. It is the members' intention to repay other creditors in priority to any repayment of their |
own loans. |