Boultbee Brooks (Victoria St.) Limited Company accounts

COMPANY REGISTRATION NUMBER: 12049002

Boultbee Brooks (Victoria St.) Limited

Unaudited Financial Statements

31 December 2024

Boultbee Brooks (Victoria St.) Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Directors' report	1

Statement of comprehensive income	2

Statement of financial position	3

Statement of changes in equity	4

Notes to the financial statements	5

Boultbee Brooks (Victoria St.) Limited

Directors' Report

Year ended 31 December 2024

The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2024 .

Principal activities

The principal activity of the company during the period was property development.

Directors

The directors who served the company during the year were as follows:

L. Roberts
C.E. Boultbee Brooks

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 17 September 2025 and signed on behalf of the board by:

L. Roberts

Director

Registered office:

Formal House

60 St Georges Place

Cheltenham

GL50 3PN

Boultbee Brooks (Victoria St.) Limited

Statement of Comprehensive Income

Year ended 31 December 2024

	2024	2023
Note	£	£
Other operating income	161,159	304,199

Property development costs	230,278	1,317,627
Other operating expenses	7,258	3,024
	---------	------------
Operating loss	( 76,377)	( 1,016,452)

Other interest receivable and similar income	1,631	–
Interest payable and similar expenses	192,949	181,753
	---------	------------
Loss before taxation	( 267,695)	( 1,198,205)

Tax on loss	–	( 43,268)
	---------	------------
Loss for the financial year and total comprehensive income	( 267,695)	( 1,154,937)
	---------	------------

All the activities of the company are from continuing operations.

Boultbee Brooks (Victoria St.) Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Current assets

Stocks		4,920,000	4,920,000
Debtors	4	27,701	65,339
Cash at bank and in hand		136,392	106,714
		------------	------------
		5,084,093	5,092,053

Creditors: amounts falling due within one year	5	5,891,520	3,196,854
		------------	------------
Net current (liabilities)/assets		( 807,427)	1,895,199
		---------	------------
Total assets less current liabilities		( 807,427)	1,895,199

Creditors: amounts falling due after more than one year	6	–	2,434,931
		---------	------------
Net liabilities		( 807,427)	( 539,732)
		---------	------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 807,527)	( 539,832)
	---------	---------
Shareholders deficit	( 807,427)	( 539,732)
	---------	---------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' 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 company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 17 September 2025 , and are signed on behalf of the board by:

L. Roberts

Director

Company registration number: 12049002

Boultbee Brooks (Victoria St.) Limited

Statement of Changes in Equity

Year ended 31 December 2024

	Called up share capital	Profit and loss account	Total
	£	£	£
At 1 January 2023	100	615,105	615,205

Loss for the year		( 1,154,937)	( 1,154,937)
	----	------------	------------
Total comprehensive income for the year	–	( 1,154,937)	( 1,154,937)

At 31 December 2023	100	( 539,832)	( 539,732)

Loss for the year		( 267,695)	( 267,695)
	----	------------	------------
Total comprehensive income for the year	–	( 267,695)	( 267,695)

	----	------------	------------
At 31 December 2024	100	( 807,527)	( 807,427)
	----	------------	------------

Boultbee Brooks (Victoria St.) Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, 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'.

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.

Going concern

The company has net liabilities £807,427. It has obtained the support of its creditors for the foreseeable future.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

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	–	20,737
Other debtors	27,701	44,602
	--------	--------
	27,701	65,339
	--------	--------

5. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	2,434,931	14,845
Trade creditors	51,725	59,794
Amounts owed to group undertakings and undertakings in which the company has a participating interest	3,304,351	2,987,351
Social security and other taxes	–	12,704
Other creditors	100,513	122,160
	------------	------------
	5,891,520	3,196,854
	------------	------------

6. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	–	2,434,931
	----	------------

7. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	25,750	25,750
Later than 1 year and not later than 5 years	103,000	103,000
Later than 5 years	1,950,563	1,976,313
	------------	------------
	2,079,313	2,105,063
	------------	------------

The charge for the year in respect of operating leases was £25,750 (2023;£25,750).

8. Charges on assets

The bank loan is secured by a charge over work in progress and other assets.

9. Controlling party

The intermediate parent company is Boultbee Developments Limited and the ultimate parent company is Boultbee Developments Holdings Limited. Their registered address is Formal House,60 St Georges Place, Cheltenham,GL50 3PN.