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REGISTERED NUMBER: OC396209
Boultbee Brooks (Prospect House 2) Limited Liability Partnership
Unaudited Financial Statements
31 December 2024
Boultbee Brooks (Prospect House 2) Limited Liability Partnership
Financial Statements
Year ended 31st December 2024
Contents
Page
Members' report
1
Statement of income and retained earnings
2
Statement of financial position
3
Reconciliation of members' interests
4
Notes to the financial statements
6
Boultbee Brooks (Prospect House 2) 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 that of a intermediate holding entity.
Designated members
The designated members who served the LLP during the year were as follows:
Boultbee Estates 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 may be 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 22 September 2025 and signed on behalf of the members by:
L.Roberts; Director Boultbee Estates Limited
Registered office:
Formal House
60 St Georges Place
Cheltenham
GL50 3PN
Boultbee Brooks (Prospect House 2) Limited Liability Partnership
Statement of Income and Retained Earnings
Year ended 31st December 2024
2024
2023
Note
£
£
Other operating expenses
41
15
----
----
Operating loss
( 41)
( 15)
Income from interest in group undertaking
( 34)
247,667
----
---------
(Loss)/profit for the financial year before members' remuneration and profit shares available for discretionary division among members
(75)
247,652
----
---------
All the activities of the LLP are from continuing operations.
Boultbee Brooks (Prospect House 2) Limited Liability Partnership
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Fixed assets
Investments
4
944,067
944,142
---------
---------
Total assets less current liabilities
944,067
944,142
---------
---------
Represented by:
Loans and other debts due to members
Other amounts
6
247,577
247,652
Members' other interests
Members' capital classified as equity
696,490
696,490
Other reserves
–
–
---------
---------
944,067
944,142
---------
---------
Total members' interests
Loans and other debts due to members
6
247,577
247,652
Members' other interests
696,490
696,490
---------
---------
944,067
944,142
---------
---------
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 .
These financial statements were approved by the members and authorised for issue on 22 September 2025 , and are signed on their behalf by:
L.Roberts;Director Boultbee Estates Limited
Registered number: OC396209
Boultbee Brooks (Prospect House 2) 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
696,490
–
696,490
247,652
247,652
944,142
Loss for the financial year available for discretionary division among members
(75)
(75)
(75)
---------
----
---------
---------
---------
---------
Members' interests after loss for the year
696,490
(75)
696,415
247,652
247,652
944,067
Other division of profits
75
75
(75)
(75)
–
---------
----
---------
---------
---------
---------
Balance at 31st December 2024
696,490
–
696,490
247,577
247,577
944,067
---------
----
---------
---------
---------
---------
Boultbee Brooks (Prospect House 2) 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
696,490
–
696,490
–
–
696,490
Profit for the financial year available for discretionary division among members
247,652
247,652
247,652
---------
---------
---------
----
----
---------
Members' interests after profit for the year
696,490
247,652
944,142
–
–
944,142
Other division of profits
(247,652)
(247,652)
247,652
247,652
–
---------
---------
---------
---------
---------
---------
Balance at 31st December 2023
696,490
–
696,490
247,652
247,652
944,142
---------
---------
---------
---------
---------
---------
Boultbee Brooks (Prospect House 2) 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.
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 income and retained earnings 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 income and retained earnings 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.
Boultbee Brooks (Prospect House 2) Limited Liability Partnership
Notes to the Financial Statements (continued)
Year ended 31st December 2024
3. Accounting policies (continued)
Members' participation rights (continued)
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 income and retained earnings 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'.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
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.
Investments
Interest in LLP
£
Cost
At 1st January 2024
944,142
Disposals
( 75)
---------
At 31st December 2024
944,067
---------
Impairment
At 1st January 2024 and 31st December 2024
–
---------
Carrying amount
At 31st December 2024
944,067
---------
At 31st December 2023
944,142
---------
5.
Financial instruments
Financial assets and liabilities are accounted for on an amortised cost basis.
6.
Loans and other debts due to members
2024
2023
£
£
Amounts owed to members in respect of profits
247,577
247,652
---------
---------
7.
Controlling party
The parent undertaking is Boultbee Estates Limited whose address is; Formal House, 60 St Georges Place, Cheltenham, GL50 3PN.