Terry Adams Residential LLP - Accounts to registrar (filleted) - small 18.1

Terry Adams Residential LLP - Accounts to registrar (filleted) - small 18.1

TERRY ADAMS RESIDENTIAL LLP - Company Information

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TERRY ADAMS RESIDENTIAL LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018





Barretts
Chartered Accountants &
Chartered Tax Advisers
22 Union Street
Newton Abbot
Devon
TQ12 2JS








TERRY ADAMS RESIDENTIAL LLP (REGISTERED NUMBER: OC347417)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2018




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TERRY ADAMS RESIDENTIAL LLP

GENERAL INFORMATION
for the Year Ended 31 March 2018







DESIGNATED MEMBERS: T C Adams
Mrs E A Adams





REGISTERED OFFICE: Greendale Court
Clyst St Mary
Exeter
Devon
EX5 1AW





REGISTERED NUMBER: OC347417 (England and Wales)





ACCOUNTANTS: Barretts
Chartered Accountants &
Chartered Tax Advisers
22 Union Street
Newton Abbot
Devon
TQ12 2JS
Page 1
TERRY ADAMS RESIDENTIAL LLP (REGISTERED NUMBER: OC347417)

BALANCE SHEET
31 March 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 8,816 11,754
Investment property 4 7,380,000 5,965,000
7,388,816 5,976,754

CURRENT ASSETS
Debtors 5 6,008 4,920
Cash at bank 143,632 123,920
149,640 128,840
CREDITORS
Amounts falling due within one year 6 56,196 91,665
NET CURRENT ASSETS 93,444 37,175
TOTAL ASSETS LESS CURRENT
LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS
7,482,260
6,013,929

LOANS AND OTHER DEBTS DUE TO
MEMBERS
7
7,481,260
6,012,929

MEMBERS' OTHER INTERESTS
Capital accounts 1,000 1,000
7,482,260 6,013,929

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 7,481,260 6,012,929
Members' other interests 1,000 1,000
7,482,260 6,013,929

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 notes form part of these financial statements

Page 2 continued...
TERRY ADAMS RESIDENTIAL LLP (REGISTERED NUMBER: OC347417)

BALANCE SHEET - continued
31 March 2018


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 19 June 2018 and were signed by:





T C Adams - Designated member

The notes form part of these financial statements

Page 3
TERRY ADAMS RESIDENTIAL LLP (REGISTERED NUMBER: OC347417)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2018

1. STATUTORY INFORMATION

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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
fair value is recognised in profit or loss.

3. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2017
and 31 March 2018 32,575
DEPRECIATION
At 1 April 2017 20,821
Charge for year 2,938
At 31 March 2018 23,759
NET BOOK VALUE
At 31 March 2018 8,816
At 31 March 2017 11,754

Page 4 continued...
TERRY ADAMS RESIDENTIAL LLP (REGISTERED NUMBER: OC347417)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2018

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2017 5,965,000
Additions 936,607
Revaluations 478,393
At 31 March 2018 7,380,000
NET BOOK VALUE
At 31 March 2018 7,380,000
At 31 March 2017 5,965,000

Fair value at 31 March 2018 is represented by:

£   
Valuation in 2015 250,345
Valuation in 2016 262,293
Valuation in 2017 189,621
Valuation in 2018 478,393
Cost 6,199,348
7,380,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 1,100 -
Other debtors 4,908 4,920
6,008 4,920

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Other creditors 56,196 91,665

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

The loans are unsecured. It is the members' intention to repay other creditors in priority to any repayment of their
own loans.

Page 5