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REGISTERED NUMBER: OC308629 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Ten Albemarle Limited Liability
Partnership

Ten Albemarle Limited Liability
Partnership (Registered number: OC308629)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 5


Ten Albemarle Limited Liability
Partnership

General Information
for the Year Ended 31 March 2023







DESIGNATED MEMBERS: Floral Street Property Partners Limited
Sir P B Smith





REGISTERED OFFICE: The Poplars
Lenton Lane
Nottingham
NG7 2PW





REGISTERED NUMBER: OC308629 (England and Wales)





ACCOUNTANTS: Mellor Oxland LLP
Chartered Accountants
Hine House
25 Regent Street
Nottingham
NG1 5BS

Ten Albemarle Limited Liability
Partnership (Registered number: OC308629)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 34,700,000 34,700,000

CURRENT ASSETS
Debtors 5 162,317 183,321
Prepayments and accrued income 256,025 161,908
Cash at bank 494,921 205,113
913,263 550,342
CREDITORS
Amounts falling due within one year 6 448,099 158,305
NET CURRENT ASSETS 465,164 392,037
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

35,165,164

35,092,037

Ten Albemarle Limited Liability
Partnership (Registered number: OC308629)

Balance Sheet - continued
31 March 2023

2023 2022
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE
TO MEMBERS

7

581,059

507,932

MEMBERS' OTHER INTERESTS
Capital accounts 8,640,356 8,640,356
Fair value reserve 8 25,943,749 25,943,749
35,165,164 35,092,037

TOTAL MEMBERS' INTERESTS
Loans and other debts due to
members

7

581,059

507,932
Members' other interests 34,584,105 34,584,105
Amounts due from members 5 (27,910 ) (99,803 )
35,137,254 34,992,234

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 2023.

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.

Ten Albemarle Limited Liability
Partnership (Registered number: OC308629)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

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 and authorised for issue on 16 October 2023 and were signed by:





Sir P B Smith - Designated member

Ten Albemarle Limited Liability
Partnership (Registered number: OC308629)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Ten Albemarle Limited Liability Partnership 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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 represents rental and service charge income from freehold property held by the LLP.

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. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2022 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 34,700,000
NET BOOK VALUE
At 31 March 2023 34,700,000
At 31 March 2022 34,700,000

Freehold land and buildings were last revalued at 26 February 2016 by external valuers Harper Dennis Hobbs, on an open market basis. The members do not consider that there has been any material increase in their market value at 31 March 2022. With regard to the aftermath of the Covid-19 pandemic and other ongoing economic challenges, they recognise the material valuation uncertainty arising as a result, but there is currently no definite evidence to suggest that the values in the financial statements require material amendment.

Ten Albemarle Limited Liability
Partnership (Registered number: OC308629)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. INVESTMENT PROPERTY - continued

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2009 (1,091,406 )
Valuation in 2010 2,161,262
Valuation in 2011 4,290,305
Valuation in 2012 489,034
Valuation in 2013 1,935,345
Valuation in 2014 (39,759 )
Valuation in 2015 15,298
Valuation in 2016 18,200,000
Valuation in 2017 (2,800 )
Valuation in 2018 (13,530 )
Cost 8,756,251
34,700,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 134,407 83,518
Other debtors 27,910 99,803
162,317 183,321

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 77,023 41,472
Other creditors 371,076 116,833
448,099 158,305

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up the members would settle any unsecured creditors in priority to the loans and other debts due to them.

8. RESERVES
Fair
value
reserve
£   
At 1 April 2022
and 31 March 2023 25,943,749

Ten Albemarle Limited Liability
Partnership (Registered number: OC308629)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. RELATED PARTY DISCLOSURES

The LLPs VAT liabilities are paid by Floral Street Property Partners Limited under a group registration and at the year end £77,023 (2022 £41,472) was owed to the company as a result.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Sir Paul Smith.

The immediate parent of Ten Albemarle Limited Liability Partnership is Floral Street Property Partners Limited which is controlled by Sir Paul Smith.