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REGISTERED NUMBER: OC423100
Boultbee Brooks (Thirsk Row) Limited Liability Partnership
Unaudited Financial Statements
31 December 2024
Boultbee Brooks (Thirsk Row) Limited Liability Partnership
Financial Statements
Year ended 31 December 2024
Contents
Page
Members' report
1
Statement of comprehensive income
3
Statement of financial position
4
Reconciliation of members' interests
6
Notes to the financial statements
8
Boultbee Brooks (Thirsk Row) Limited Liability Partnership
Members' Report
Year ended 31 December 2024
The members present their report and the unaudited financial statements of the LLP for the year ended 31 December 2024 .
Principal activities
The principal activity of the company during the period was property development.
Designated members
The designated members who served the LLP during the year were as follows:
Boultbee Developments Limited
ZMR Business Consultants Limited
Groom Properties Limited
Cowrie Properties Limited
Policy regarding members' drawings and the subscription and repayment of amounts subscribed or otherwise contributed by members
Members are permitted to make drawings when profits have been allocated to them, subject to sufficient maintenance of working capital. Drawings are determined after the end of each calendar quarter.
New members are required to subscribe a minimum level of capital and any subsequent capital requirements maybe determined by unanimous consent of the members. Withdrawal of capital maybe allowed on refinance of the development property or upon sale.
This report was approved by the members on 9 September 2025 and signed on behalf of the members by:
L.Roberts director of designated member Boultbee Developments Limited
Registered office:
Formal House
60 St Georges Place
Cheltenham
GL50 3PN
Boultbee Brooks (Thirsk Row) Limited Liability Partnership
Statement of Comprehensive Income
Year ended 31 December 2024
2024
2023
Note
£
£
Cost of sales
110,751
148,822
---------
---------
Gross loss
( 110,751)
( 148,822)
Administrative expenses
20,902
3,644
Other operating income
352,197
229,820
---------
---------
Operating profit
220,544
77,354
Other interest receivable and similar income
3,384
3,682
---------
---------
Profit for the financial year before members' remuneration and profit shares available for discretionary division among members
223,928
81,036
---------
---------
All the activities of the LLP are from continuing operations.
Boultbee Brooks (Thirsk Row) Limited Liability Partnership
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Current assets
Stocks
9,596,909
9,442,650
Debtors
4
238,745
253,764
Cash at bank and in hand
285,394
415,651
-------------
-------------
10,121,048
10,112,065
Creditors: amounts falling due within one year
5
354,007
318,952
-------------
-------------
Net current assets
9,767,041
9,793,113
------------
------------
Total assets less current liabilities
9,767,041
9,793,113
------------
------------
Net assets
9,767,041
9,793,113
------------
------------
Represented by:
Loans and other debts due to members
Other amounts
–
–
Members' other interests
Members' capital classified as equity
9,767,041
9,896,686
Other reserves
–
(103,573)
------------
------------
9,767,041
9,793,113
------------
------------
Total members' interests
Loans and other debts due to members
–
–
Members' other interests
9,767,041
9,793,113
------------
------------
9,767,041
9,793,113
------------
------------
These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 December 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .
Boultbee Brooks (Thirsk Row) Limited Liability Partnership
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the members and authorised for issue on 9 September 2025 , and are signed on their behalf by:
L.Roberts director of designated member Boultbee Developments Limited
Registered number: OC423100
Boultbee Brooks (Thirsk Row) Limited Liability Partnership
Reconciliation of Members' Interests
Year ended 31 December 2024
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Other reserves
Total
Other amounts
Total
Total 2024
£
£
£
£
£
£
Balance at 1 January 2024
9,896,686
(103,573)
9,793,113
–
–
9,793,113
Profit for the financial year available for discretionary division among members
223,928
223,928
223,928
------------
---------
-------------
----
----
-------------
Members' interests after profit for the year
9,896,686
120,355
10,017,041
–
–
10,017,041
Other division of profits
(120,355)
(120,355)
120,355
120,355
–
Drawings
(250,000)
(250,000)
(250,000)
Reclassifications
(129,645)
–
(129,645)
129,645
129,645
–
------------
---------
-------------
---------
---------
-------------
Balance at 31 December 2024
9,767,041
–
9,767,041
–
–
9,767,041
------------
---------
-------------
---------
---------
-------------
Boultbee Brooks (Thirsk Row) Limited Liability Partnership
Reconciliation of Members' Interests (continued)
Year ended 31 December 2024
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Other reserves
Total
Other amounts
Total
Total 2023
£
£
£
£
£
£
Balance at 1 January 2023
9,896,686
(184,609)
9,712,077
–
–
9,712,077
Profit for the financial year available for discretionary division among members
81,036
81,036
81,036
------------
---------
------------
----
----
------------
Members' interests after profit for the year
9,896,686
(103,573)
9,793,113
–
–
9,793,113
Drawings
–
–
–
Reclassifications
–
–
–
–
–
–
------------
---------
------------
----
----
------------
Balance at 31 December 2023
9,896,686
(103,573)
9,793,113
–
–
9,793,113
------------
---------
------------
----
----
------------
Boultbee Brooks (Thirsk Row) Limited Liability Partnership
Notes to the Financial Statements
Year ended 31 December 2024
1.
General information
The LLP is registered in England and Wales. The address of the registered office is Formal House, 60 St Georges Place, Cheltenham, GL50 3PN.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP 2021).
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.
Boultbee Brooks (Thirsk Row) Limited Liability Partnership
Notes to the Financial Statements (continued)
Year ended 31 December 2024
3. Accounting policies (continued)
Members' participation rights (continued)
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Debtors
2024
2023
£
£
Trade debtors
4,972
43,311
Other debtors
233,773
210,453
---------
---------
238,745
253,764
---------
---------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
139,649
156,935
Social security and other taxes
9,937
9,865
Other creditors
204,421
152,152
---------
---------
354,007
318,952
---------
---------
6.
Financial instruments
Financial assets and liabilities are accounted for on an amortised cost basis.