REGISTERED NUMBER: 01587885 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

10ANT CAPITAL LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

P R Tennant

T P Tennant

REGISTERED OFFICE:

4th Floor Tuition House

27-37 St George's Road

Wimbledon

London

SW19 4EU

REGISTERED NUMBER:

01587885 (England and Wales)

ACCOUNTANTS:

Hartley Fowler LLP

Chartered Accountants

4th Floor Tuition House

27-37 St George's Road

Wimbledon

London

SW19 4EU

FIXED ASSETS

Tangible assets

4

1,078

1,268

Investments

5

44,995

44,995

Investment property

6

11,200,000

11,155,000

11,246,073

11,201,263

CURRENT ASSETS

Debtors

7

5,331

6,918

Cash at bank

47,967

109,224

53,298

116,142

CREDITORS

Amounts falling due within one year

8

4,154,181

112,308

NET CURRENT (LIABILITIES)/ASSETS

(4,100,883

)

3,834

TOTAL ASSETS LESS CURRENT LIABILITIES

7,145,190

11,205,097

CREDITORS

Amounts falling due after more than one year

9

-

(4,000,001

)

PROVISIONS FOR LIABILITIES

12

(265,863

)

(285,248

)

NET ASSETS

6,879,327

6,919,848

CAPITAL AND RESERVES

Called up share capital

72,512

72,512

Share premium

13

172,950

172,950

Fair value reserve

13

5,071,241

5,129,396

Retained earnings

13

1,562,624

1,544,990

SHAREHOLDERS' FUNDS

6,879,327

6,919,848

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

T P Tennant - Director

1.	STATUTORY INFORMATION

10Ant Capital Ltd is a private company limited by shares, and incorporated in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going Concern

The financial statements have been prepared on a going concern basis. The directors, in their consideration of going concern, have reviewed the company's future cash forecasts and revenue projections, and believe, based on those forecasts and projections, that it is appropriate to prepare the company financial statements on a going concern basis.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates. Included in these judgements and estimates are:

Investment properties - The key assumptions used to determine the fair value included current market rents, transactions and yields for comparable properties. However there is an inevitable degree of judgement involved in that each property is unique and value can only ultimately be reliably tested in the market itself. Fair value is determined by a director of the company. The director aims to determine the open market valuation of each property. In order to do so the director used a combination of valuations from an independent RICS registered external valuer for the purpose of post year end loan refinancing. Each valuation is checked by a Fellow of the Royal Institute of Chartered Surveyors for accuracy. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Turnover

Turnover represents revenue recognised by the company in respect of property sales and rent income. Revenue is measured at fair value of the consideration received or receivable. Property sales are recognised on legal completion. Rental income is recognised on an accruals basis. Lease incentives granted to tenants are spread over the term of the lease. Rental income from operating leases is generated through assured shorthold tenancies with an average lease term of 12 months. Rental income is recognised on an accrual basis.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on cost

Investment property

Investment properties consist of land and buildings which are not occupied by or in the operations of the Company or for sale in the ordinary course of business but are held to earn rental income together with the potential capital and income growth.

Investment properties are initially recognised at cost, being the fair value of consideration given, including transaction costs associated with the investment property. Any subsequent capital expenditure incurred in improving investment properties is capitalised in the period incurred and included within the book costs of the property.

Financial instruments

Borrowing costs

Borrowings are recognised initially at the present value of future payments discounted at a market rate of interest. Borrowings are subsequently measured at amortised cost under the effective interest rate method, less impairment.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Financial assets

Financial assets, other than investments and derivatives, are initially measured at transaction price (including transaction costs) and subsequently held at cost, less any impairment.

Financial liabilities and equity

Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form. Financial liabilities, excluding convertible debt and derivatives, are initially measured at transaction price (after deducting transaction costs) and subsequently held at amortised cost.

Fixed asset investments

Fixed asset investments are measured at cost less impairment.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders of an annual general meeting.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

29,010

DEPRECIATION

At 1 January 2024

27,742

Charge for year

190

At 31 December 2024

27,932

NET BOOK VALUE

At 31 December 2024

1,078

At 31 December 2023

1,268

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

and 31 December 2024

44,995

NET BOOK VALUE

At 31 December 2024

44,995

At 31 December 2023

44,995

The company has an interest of less than 1% in two UK registered companies.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

11,155,000

Additions

122,540

Revaluations

(77,540

)

At 31 December 2024

11,200,000

NET BOOK VALUE

At 31 December 2024

11,200,000

At 31 December 2023

11,155,000

The company's investment properties have been internally valued by the directors. The significant methods and assumptions used in estimating the fair value and key sources of estimation uncertainty are provided in the accounting policies.

Fair value at 31 December 2024 is represented by:

£

Valuation in 2024

5,427,399

Cost

5,772,601

11,200,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,500

3,676

Other debtors

3,831

3,242

5,331

6,918

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 10)

4,000,001

-

Trade creditors

2,435

6,241

Taxation and social security

3,228

2,810

Other creditors

148,517

103,257

4,154,181

112,308

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans (see note 10)

-

4,000,001

10.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank loans

4,000,001

-

Amounts falling due between one and two years:

Bank loans - 1-2 years

-

4,000,001

The loan taken out in the year bears interest on 2.1% per annum, plus the bank's base rate.

11.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

4,000,001

4,000,001

Loans are secured on the property to which they relate.

12.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

265,863

285,248

Deferred

tax

£

Balance at 1 January 2024

285,248

Provided during year

(19,385

)

Balance at 31 December 2024

265,863

13.

RESERVES

The following describes the nature and purpose of each reserve within equity:

Reserve

Description and purpose

Share premium

Amount subscribed for share capital in excess of nominal value

Fair value reserve

Gains/losses arising on revaluation of the company's investment property

Retained earnings

All other net gains and losses and transactions with owners not recognised elsewhere

14.	OPERATING LEASE ARRANGEMENTS

Future total minimum lease receivable under non-cancellable operating leases on investment properties are as follows:

2024

2023

£

£

Within one year

72,000

72,000

Between one and five years

288,000

288,000

In more than five years

590,000

662,000

950,000

1,022,000

The impact of rental income from the assured shorthold tenancies have not been included since it cannot reasonably determine the certainty of income as the tenancy continues on a monthly contractual basis until ended by either the Company or its tenants.

15.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed an amount of £63,636 to P Tennant (2023: P Tennant £63,636) in connection with loans made in previous years to the company for the purchase of certain investment properties and shareholder loan accounts. The loans are not secured and are repayable on the earlier of the sale of a property and 2026.

At the balance sheet date the company owed an amount of £37,898 to T Tennant (2023: £9,082). The loan is not secured, bears no interest and is repayable on demand.