Boultbee Brooks (Harrogate) Limited Liability Partnership LLP accounts

REGISTERED NUMBER: OC398906

Boultbee Brooks (Harrogate) Limited Liability Partnership

Unaudited Financial Statements

31 December 2024

Boultbee Brooks (Harrogate) Limited Liability Partnership

Financial Statements

Year ended 31st December 2024

Contents	Page

Members' report	1

Statement of comprehensive income	2

Statement of financial position	3

Reconciliation of members' interests	5

Notes to the financial statements	7

Boultbee Brooks (Harrogate) Limited Liability Partnership

Members' Report

Year ended 31st 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 year was property investment.

Designated members

The designated members who served the LLP during the year were as follows:

Retail Growth LLP
Boultbee Brooks (Harrogate 2) LLP

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 investment property or upon sale.

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

L.Roberts;Director of a member of a designated member of Boultbee Brooks(Harrogate 2) LLP

Registered office:

Formal House

60 St Georges Place

Cheltenham

GL50 3PN

Boultbee Brooks (Harrogate) Limited Liability Partnership

Statement of Comprehensive Income

Year ended 31st December 2024

	2024	2023
Note	£	£
Turnover	2,135,391	2,165,762

Fair value adjustment investment property/gain on disposal		11,365	( 75,335)
Other operating expenses		1,370,607	1,493,325
		------------	------------
Operating profit	4	753,419	747,772

Other interest receivable and similar income	12,023	10,242
Interest payable and similar expenses	378,237	358,689
	------------	------------
Profit for the financial year before members' remuneration and profit shares available for discretionary division among members	387,205	399,325
	------------	------------

All the activities of the LLP are from continuing operations.

Boultbee Brooks (Harrogate) Limited Liability Partnership

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	11,074,774	11,055,000

Current assets

Debtors	6	131,984	207,970
Cash at bank and in hand		1,043,542	714,124
		------------	---------
		1,175,526	922,094

Creditors: amounts falling due within one year	7	905,722	799,332
		------------	---------
Net current assets		269,804	122,762
		-------------	-------------
Total assets less current liabilities		11,344,578	11,177,762

Creditors: amounts falling due after more than one year	8	4,646,462	4,730,895
		-------------	-------------
Net assets		6,698,116	6,446,867
		-------------	-------------

Represented by:

Loans and other debts due to members

Other amounts	10	2,247,563	2,005,410

Members' other interests

Members' capital classified as equity	3,659,999	3,659,999
Other reserves	790,554	781,458
	------------	------------
	6,698,116	6,446,867
	------------	------------

Total members' interests

Loans and other debts due to members	10	2,247,563	2,005,410
Members' other interests		4,450,553	4,441,457
		------------	------------
		6,698,116	6,446,867
		------------	------------

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 31st 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 (Harrogate) Limited Liability Partnership

Statement of Financial Position (continued)

31 December 2024

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

L.Roberts; Director of a member of the designated member of Boultbee Brooks (Harrogate 2) LLP

Registered number: OC398906

Boultbee Brooks (Harrogate) Limited Liability Partnership

Reconciliation of Members' Interests

Year ended 31st 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 1st January 2024	3,659,999	781,458	4,441,457	2,005,410	2,005,410	6,446,867
Profit for the financial year available for discretionary division among members		387,205	387,205			387,205
	------------	------------	------------	------------	------------	------------
Members' interests after profit for the year	3,659,999	1,168,663	4,828,662	2,005,410	2,005,410	6,834,072
Other division of profits		(378,109)	(378,109)	378,109	378,109	–
Drawings				(135,956)	(135,956)	(135,956)
	------------	------------	------------	------------	------------	------------
Balance at 31st December 2024	3,659,999	790,554	4,450,553	2,247,563	2,247,563	6,698,116
	------------	------------	------------	------------	------------	------------

Boultbee Brooks (Harrogate) Limited Liability Partnership

Reconciliation of Members' Interests (continued)

Year ended 31st 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 1st January 2023	3,659,999	706,123	4,366,122	2,137,636	2,137,636	6,503,758
Profit for the financial year available for discretionary division among members		399,325	399,325			399,325
	------------	------------	------------	------------	------------	------------
Members' interests after profit for the year	3,659,999	1,105,448	4,765,447	2,137,636	2,137,636	6,903,083
Other division of profits		(323,990)	(323,990)	323,990	323,990	–
Drawings				(456,216)	(456,216)	(456,216)
	------------	------------	------------	------------	------------	------------
Balance at 31st December 2023	3,659,999	781,458	4,441,457	2,005,410	2,005,410	6,446,867
	------------	------------	------------	------------	------------	------------

Boultbee Brooks (Harrogate) Limited Liability Partnership

Notes to the Financial Statements

Year ended 31st 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.

Revenue recognition

Turnover represents rent, service charges, insurance and dilapidation income receivable stated net of Value Added Tax.

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.

Boultbee Brooks (Harrogate) Limited Liability Partnership

Notes to the Financial Statements (continued)

Year ended 31st December 2024

3. Accounting policies (continued)

Members' participation rights (continued)

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.

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'.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures and fittings	-	20% straight line

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

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.	Operating profit

Operating profit or loss is stated after charging/crediting:

	2024	2023
	£	£
Fair value adjustments to investment property	9,096	( 75,335)
	-------	--------

5.	Tangible assets

	Freehold property	Fixtures and fittings	Total
	£	£	£
Cost or valuation
At 1st January 2024	11,055,000	–	11,055,000
Additions	9,096	22,043	31,139
Revaluations	( 9,096)	–	( 9,096)
	-------------	--------	-------------
At 31st December 2024	11,055,000	22,043	11,077,043
	-------------	--------	-------------
Depreciation
At 1st January 2024	–	–	–
Charge for the year	–	2,269	2,269
	-------------	--------	-------------
At 31st December 2024	–	2,269	2,269
	-------------	--------	-------------
Carrying amount
At 31st December 2024	11,055,000	19,774	11,074,774
	-------------	--------	-------------
At 31st December 2023	11,055,000	–	11,055,000
	-------------	--------	-------------

The investment property was valued at its open market value by a director of an ultimate designated member. He is a member of the Royal Institute of Chartered Surveyors.

Tangible assets held at valuation

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Freehold property
	£
At 31st December 2024
Aggregate cost	11,436,487
Aggregate depreciation	–
	-------------
Carrying value	11,436,487
	-------------

At 31st December 2023
Aggregate cost	11,427,390
Aggregate depreciation	–
	-------------
Carrying value	11,427,390
	-------------

6.	Debtors

	2024	2023
	£	£
Trade debtors	68,739	81,337
Other debtors	63,245	126,633
	---------	---------
	131,984	207,970
	---------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	84,433	84,433
Trade creditors	574,568	539,632
Social security and other taxes	25,617	–
Other creditors	221,104	175,267
	---------	---------
	905,722	799,332
	---------	---------

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

	2024	2023
	£	£
Bank loans and overdrafts	4,646,462	4,730,895
	------------	------------

The bank loan is secured by a charge over the investment property and other assets. It is repayable within five years by instalments.

9.	Financial instruments

Financial assets and liabilities are accounted for on an amortised cost basis.

10.	Loans and other debts due to members

	2024	2023
	£	£
Amounts owed to members in respect of profits	2,247,563	2,005,410
	------------	------------

11.	Controlling party

The parent is Boultbee Brooks (Harrogate 2) LLP whose registered address is Formal House,60 St Georges Place,Cheltenham,GL50 3PN.