Boultbee Brooks (Prospect House) Limited Liability Partnership LLP accounts

REGISTERED NUMBER: OC396234

Boultbee Brooks (Prospect House) Limited Liability Partnership

Unaudited Financial Statements

31 December 2024

Boultbee Brooks (Prospect House) 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 (Prospect House) 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 to administer a loan to which it was party, on behalf of group and related parties.

Designated members

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

Retail Growth LLP
Boultbee Brooks (Prospect House 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 22 September 2025 and signed on behalf of the members by:

L.Roberts;Director of member of designated member Boultbee Brooks (Prospect House 2) LLP

Registered office:

Formal House

60 St Georges Place

Cheltenham

GL50 3PN

Boultbee Brooks (Prospect House) Limited Liability Partnership

Statement of Comprehensive Income

Year ended 31st December 2024

	2024	2023
Note	£	£
Other operating expenses	35	91
	----	----
Operating loss	( 35)	( 91)

Interest payable and similar expenses	–	( 247,758)
	----	---------
(Loss)/profit for the financial year before members' remuneration and profit shares available for discretionary division among members	(35)	247,667
	----	---------

All the activities of the LLP are from continuing operations.

Boultbee Brooks (Prospect House) Limited Liability Partnership

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Current assets

Debtors	4	9,141,952	12,775,439
Cash at bank and in hand		51,660	65,703
		------------	-------------
		9,193,612	12,841,142

Creditors: amounts falling due within one year	5	2,959,547	4,051,001
		------------	-------------
Net current assets		6,234,065	8,790,141
		------------	------------
Total assets less current liabilities		6,234,065	8,790,141

Creditors: amounts falling due after more than one year	6	5,290,000	7,846,000
		------------	------------
Net assets		944,065	944,141
		------------	------------

Represented by:

Loans and other debts due to members

Other amounts	8	246,675	246,751

Members' other interests

Members' capital classified as equity	697,390	697,390
Other reserves	–	–
	---------	---------
	944,065	944,141
	---------	---------

Total members' interests

Loans and other debts due to members	8	246,675	246,751
Members' other interests		697,390	697,390
		---------	---------
		944,065	944,141
		---------	---------

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 (Prospect House) Limited Liability Partnership

Statement of Financial Position (continued)

31 December 2024

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 of member of designated member Boultbee Brooks (Prospect House 2) LLP

Registered number: OC396234

Boultbee Brooks (Prospect House) 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	697,390	–	697,390	246,751	246,751	944,141
Loss for the financial year available for discretionary division among members		(35)	(35)			(35)
	---------	----	---------	---------	---------	---------
Members' interests after loss for the year	697,390	(35)	697,355	246,751	246,751	944,106
Other division of profits		35	35	(35)	(35)	–
Drawings				(41)	(41)	(41)
	---------	----	---------	---------	---------	---------
Balance at 31st December 2024	697,390	–	697,390	246,675	246,675	944,065
	---------	----	---------	---------	---------	---------

Boultbee Brooks (Prospect House) 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	697,390	–	697,390	–	–	697,390
Profit for the financial year available for discretionary division among members		247,667	247,667			247,667
	---------	---------	---------	----	----	---------
Members' interests after profit for the year	697,390	247,667	945,057	–	–	945,057
Other division of profits		(247,667)	(247,667)	247,667	247,667	–
Drawings				(916)	(916)	(916)
	---------	---------	---------	---------	---------	---------
Balance at 31st December 2023	697,390	–	697,390	246,751	246,751	944,141
	---------	---------	---------	---------	---------	---------

Boultbee Brooks (Prospect House) 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 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.

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) 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 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'.

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
	£	£
Amounts owed by group undertakings and undertakings in which the LLP has a participating interest	1,071,668	1,071,668
Other debtors	8,070,284	11,703,771
	------------	-------------
	9,141,952	12,775,439
	------------	-------------

The debtors above include the following amounts falling due after more than one year:

	2024	2023
	£	£
Other debtors	6,586,533	–
	------------	----

5. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	2,556,000	–
Trade creditors	82	31
Amounts owed to group undertakings and undertakings in which the LLP has a participating interest	402,791	4,050,970
Other creditors	674	–
	------------	------------
	2,959,547	4,051,001
	------------	------------

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

	2024	2023
	£	£
Bank loans and overdrafts	5,290,000	7,846,000
	------------	------------

7.	Financial instruments

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

8.	Loans and other debts due to members

	2024	2023
	£	£
Amounts owed to members in respect of profits	246,675	246,751
	---------	---------

9.	Controlling party

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