Boultbee Brooks (Ambrose Street) Limited Liability Partnership LLP accounts

REGISTERED NUMBER: OC424459

Boultbee Brooks (Ambrose Street) Limited Liability Partnership

Unaudited Financial Statements

31 December 2024

Boultbee Brooks (Ambrose Street) Limited Liability Partnership

Financial Statements

Year ended 31 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 (Ambrose Street) 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
Retail Growth 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 9 September 2025 and signed on behalf of the members by:

L.Roberts;director of member Boultbee Developments Limited

Registered office:

Formal House

60 St Georges Place

Cheltenham

GL50 3PN

Boultbee Brooks (Ambrose Street) Limited Liability Partnership

Statement of Comprehensive Income

Year ended 31 December 2024

	2024	2023
Note	£	£
Cost of sales	946,336	79,587
	---------	--------
Gross loss	( 946,336)	( 79,587)

Administrative expenses	10,013	2,566
Other operating income	32,178	–
	---------	--------
Operating loss	( 924,171)	( 82,153)

Other interest receivable and similar income	223	189
Interest payable and similar expenses	174,507	161,900
	------------	---------
Loss for the financial year before members' remuneration and profit shares available for discretionary division among members	(1,098,455)	(243,864)
	------------	---------

All the activities of the LLP are from continuing operations.

Boultbee Brooks (Ambrose Street) Limited Liability Partnership

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Current assets

Stocks		4,500,000	5,306,573
Debtors	4	89,597	22,620
Cash at bank and in hand		98,238	2,706
		------------	------------
		4,687,835	5,331,899

Creditors: amounts falling due within one year	5	4,687,835	4,279,189
		------------	------------
Net current assets		–	1,052,710
		----	------------
Total assets less current liabilities		–	1,052,710
		----	------------
Net assets		–	1,052,710
		----	------------

Represented by:

Loans and other debts due to members

Other amounts	–	–

Members' other interests

Members' capital classified as equity	–	1,052,710
Other reserves	–	–
	----	------------
	–	1,052,710
	----	------------

Total members' interests

Amounts due from members	(45,745)	–
Loans and other debts due to members	–	–
Members' other interests	–	1,052,710
	--------	------------
	(45,745)	1,052,710
	--------	------------

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 (Ambrose Street) 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 member Boultbee Developments Limited

Registered number: OC424459

Boultbee Brooks (Ambrose Street) 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	1,052,710	–	1,052,710	–	–	1,052,710
Loss for the financial year available for discretionary division among members		(1,098,455)	(1,098,455)			(1,098,455)
	------------	------------	------------	----	----	------------
Members' interests after loss for the year	1,052,710	(1,098,455)	(45,745)	–	–	(45,745)
Other division of profits		1,098,455	1,098,455	(1,098,455)	(1,098,455)	–
Introduced by members	–		–	–	–	–
Reclassifications	(1,052,710)	–	(1,052,710)	1,052,710	1,052,710	–
	------------	------------	------------	------------	------------	--------
Balance at 31 December 2024	–	–	–	(45,745)	(45,745)	(45,745)
	------------	------------	------------	------------	------------	--------

Boultbee Brooks (Ambrose Street) 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	1,130,074	–	1,130,074	–	–	1,130,074
Loss for the financial year available for discretionary division among members		(243,864)	(243,864)			(243,864)
	------------	---------	------------	----	----	------------
Members' interests after loss for the year	1,130,074	(243,864)	886,210	–	–	886,210
Other division of profits		243,864	243,864	(243,864)	(243,864)	–
Introduced by members	166,500		166,500	–	–	166,500
Reclassifications	(243,864)	–	(243,864)	243,864	243,864	–
	------------	---------	------------	---------	---------	------------
Balance at 31 December 2023	1,052,710	–	1,052,710	–	–	1,052,710
	------------	---------	------------	---------	---------	------------

Boultbee Brooks (Ambrose Street) 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 (Ambrose Street) 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	–	842
Other debtors	89,597	21,778
	--------	--------
	89,597	22,620
	--------	--------

5. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	10,394	104,544
Amounts owed to group undertakings and undertakings in which the LLP has a participating interest	4,602,652	4,172,145
Social security and other taxes	283	–
Other creditors	74,506	2,500
	------------	------------
	4,687,835	4,279,189
	------------	------------

6.	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, St Georges Place, Cheltenham, GL50 3PN.