0 0 false false false false false false false false false false false false false false false false false 2024-01-01 Sage Accounts Production Advanced 2024 - FRS102_2024 9,000,000 14,126 664,126 8,350,000 8,350,000 9,000,000 xbrli:pure xbrli:shares iso4217:GBP OC422746 2024-01-01 2024-12-31 OC422746 2024-12-31 OC422746 2023-12-31 OC422746 2023-01-01 2023-12-31 OC422746 2023-12-31 OC422746 2022-12-31 OC422746 bus:RegisteredOffice 2024-01-01 2024-12-31 OC422746 bus:Director2 2024-01-01 2024-12-31 OC422746 bus:Director3 2024-01-01 2024-12-31 OC422746 bus:Director4 2024-01-01 2024-12-31 OC422746 bus:Director5 2024-01-01 2024-12-31 OC422746 bus:Director6 2024-01-01 2024-12-31 OC422746 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 OC422746 core:WithinOneYear 2024-12-31 OC422746 core:WithinOneYear 2023-12-31 OC422746 core:AfterOneYear 2023-12-31 OC422746 core:LandBuildings core:OwnedOrFreeholdAssets 2024-12-31 OC422746 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 OC422746 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 OC422746 bus:Director1 2024-01-01 2024-12-31 OC422746 bus:SmallEntities 2024-01-01 2024-12-31 OC422746 bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 OC422746 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 OC422746 bus:LimitedLiabilityPartnershipLLP 2024-01-01 2024-12-31 OC422746 bus:FullAccounts 2024-01-01 2024-12-31
REGISTERED NUMBER: OC422746
Boultbee Brooks (Talbot Building) Limited Liability Partnership
Unaudited Financial Statements
31 December 2024
Boultbee Brooks (Talbot Building) 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 (Talbot Building) 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 year was property investment.
Designated members
The designated members who served the LLP during the year were as follows:
Boultbee Estates (No.1) Limited
ZMR Business Consultants Limited
Groom Properties Limited
Cowrie Properties Limited
London & Central Securities 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 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 designated member Boultbee Estates (No.1) Limited
Registered office:
Formal House
60 St Georges Place
Cheltenham
GL50 3PN
Boultbee Brooks (Talbot Building) Limited Liability Partnership
Statement of Comprehensive Income
Year ended 31 December 2024
2024
2023
Note
£
£
Turnover
697,638
691,398
Fair value adjustment investment property
664,126
( 3,883)
Other operating expenses
291,197
542,386
---------
---------
Operating (loss)/profit
4
( 257,685)
152,895
Interest payable and similar expenses
220,729
209,212
---------
---------
Loss for the financial year before members' remuneration and profit shares available for discretionary division among members
(478,414)
(56,317)
---------
---------
All the activities of the LLP are from continuing operations.
Boultbee Brooks (Talbot Building) Limited Liability Partnership
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
8,350,000
9,000,000
Current assets
Debtors
6
363,559
386,998
Cash at bank and in hand
534,616
518,017
---------
---------
898,175
905,015
Creditors: amounts falling due within one year
7
3,153,691
178,862
------------
---------
Net current (liabilities)/assets
( 2,255,516)
726,153
------------
------------
Total assets less current liabilities
6,094,484
9,726,153
Creditors: amounts falling due after more than one year
8
–
2,838,256
------------
------------
Net assets
6,094,484
6,887,897
------------
------------
Represented by:
Loans and other debts due to members
Other amounts
–
–
Members' other interests
Members' capital classified as equity
6,313,860
6,443,147
Other reserves
(219,376)
444,750
------------
------------
6,094,484
6,887,897
------------
------------
Total members' interests
Loans and other debts due to members
–
–
Members' other interests
6,094,484
6,887,897
------------
------------
6,094,484
6,887,897
------------
------------
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 (Talbot Building) 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 designated member Boultbee Estates (No.1) Limited
Registered number: OC422746
Boultbee Brooks (Talbot Building) 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
6,443,147
444,750
6,887,897
–
–
6,887,897
Loss for the financial year available for discretionary division among members
(478,414)
(478,414)
(478,414)
------------
---------
------------
----
----
------------
Members' interests after loss for the year
6,443,147
(33,664)
6,409,483
–
–
6,409,483
Other division of profits
(185,712)
(185,712)
185,712
185,712
–
Introduced by members
30,000
30,000
–
–
30,000
Drawings
(345,000)
(345,000)
(345,000)
Reclassifications
(159,287)
–
(159,287)
159,288
159,288
1
------------
---------
------------
---------
---------
------------
Balance at 31 December 2024
6,313,860
(219,376)
6,094,484
–
–
6,094,484
------------
---------
------------
---------
---------
------------
Boultbee Brooks (Talbot Building) 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
5,005,957
448,633
5,454,590
12,552
12,552
5,467,142
Loss for the financial year available for discretionary division among members
(56,317)
(56,317)
(56,317)
------------
---------
------------
--------
--------
------------
Members' interests after loss for the year
5,005,957
392,316
5,398,273
12,552
12,552
5,410,825
Other division of profits
52,434
52,434
(52,434)
(52,434)
–
Introduced by members
1,477,071
1,477,071
–
–
1,477,071
Drawings
–
–
–
Reclassifications
(39,881)
–
(39,881)
39,882
39,882
1
------------
---------
------------
--------
--------
------------
Balance at 31 December 2023
6,443,147
444,750
6,887,897
–
–
6,887,897
------------
---------
------------
--------
--------
------------
Boultbee Brooks (Talbot Building) 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.
Revenue recognition
Turnover represents income from the provision of serviced office space and related services stated net of VAT.
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 (Talbot Building) Limited Liability Partnership
Notes to the Financial Statements (continued)
Year ended 31 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'.
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 (loss)/profit
Operating profit or loss is stated after charging/crediting:
2024
2023
£
£
Fair value adjustments to investment property
664,126
( 3,883)
---------
-------
5.
Tangible assets
Freehold property
£
Cost or valuation
At 1 January 2024
9,000,000
Additions
14,126
Revaluations
( 664,126)
------------
At 31 December 2024
8,350,000
------------
Depreciation
At 1 January 2024 and 31 December 2024
–
------------
Carrying amount
At 31 December 2024
8,350,000
------------
At 31 December 2023
9,000,000
------------
The investment property was valued at its open market value by a director of a 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 31 December 2024
Aggregate cost
8,561,610
Aggregate depreciation
–
------------
Carrying value
8,561,610
------------
At 31 December 2023
Aggregate cost
8,547,484
Aggregate depreciation
–
------------
Carrying value
8,547,484
------------
6.
Debtors
2024
2023
£
£
Trade debtors
129,075
132,714
Other debtors
234,484
254,284
---------
---------
363,559
386,998
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
2,838,256
16,968
Trade creditors
36,398
105,583
Social security and other taxes
62,253
2,619
Other creditors
216,784
53,692
------------
---------
3,153,691
178,862
------------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
–
2,838,256
----
------------
9.
Financial instruments
Financial assets and liabilities are accounted for on an amortised cost basis.
10.
Charges on assets
Investment property and other assets are secured by a charge in respect of a bank loan that is part of a joint facility with other entities in which the member Boultbee Estates NO.1 Limited and Boultbee Developments Limited are interested.