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REGISTERED NUMBER: OC416767
Boultbee Brooks (Park House) Limited Liability Partnership
Unaudited Financial Statements
31 December 2024
Boultbee Brooks (Park 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 (Park 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 property investment.
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 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 18 September 2025 and signed on behalf of the members by:
L.Roberts;Director of designated member Boultbee Estates Limited
Registered office:
Formal House
60 St Georges Place
Cheltenham
GL50 3PN
Boultbee Brooks (Park House) Limited Liability Partnership
Statement of Comprehensive Income
Year ended 31st December 2024
2024
2023
Note
£
£
Loss on sale/Fair value adjustment investment property
–
1,600
Other operating expenses
341
( 1,326)
----
-------
Operating loss
( 341)
( 274)
----
-------
Loss for the financial year before members' remuneration and profit shares available for discretionary division among members
(341)
(274)
----
-------
Boultbee Brooks (Park House) Limited Liability Partnership
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Current assets
Debtors
4
675,268
679,916
Cash at bank and in hand
34,858
38,908
---------
---------
710,126
718,824
Creditors: amounts falling due within one year
5
2,635
10,992
---------
---------
Net current assets
707,491
707,832
---------
---------
Total assets less current liabilities
707,491
707,832
---------
---------
Represented by:
Loans and other debts due to members
Other amounts
–
–
Members' other interests
Members' capital classified as equity
707,491
707,832
Other reserves
–
–
---------
---------
707,491
707,832
---------
---------
Total members' interests
Loans and other debts due to members
–
–
Members' other interests
707,491
707,832
---------
---------
707,491
707,832
---------
---------
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 (Park 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 18 September 2025 , and are signed on their behalf by:
L.Roberts;Director of designated member Boultbee Estates Limited
Registered number: OC416767
Boultbee Brooks (Park House) Limited Liability Partnership
Reconciliation of Members' Interests
Year ended 31st December 2024
Members' other interests
Total members' interests
Members' capital (classified as equity)
Other reserves
Total
Total 2024
£
£
£
£
Balance at 1st January 2024
707,832
–
707,832
707,832
Loss for the financial year available for discretionary division among members
(341)
(341)
(341)
---------
----
---------
---------
Members' interests after loss for the year
707,832
(341)
707,491
707,491
Repayments of capital
–
–
–
Other movements
(341)
341
–
–
---------
----
---------
---------
Balance at 31st December 2024
707,491
–
707,491
707,491
---------
----
---------
---------
Boultbee Brooks (Park House) Limited Liability Partnership
Reconciliation of Members' Interests (continued)
Year ended 31st December 2024
Members' other interests
Total members' interests
Members' capital (classified as equity)
Other reserves
Total
Total 2023
£
£
£
£
Balance at 1st January 2023
2,228,106
–
2,228,106
2,228,106
Loss for the financial year available for discretionary division among members
(274)
(274)
(274)
------------
----
------------
------------
Members' interests after loss for the year
2,228,106
(274)
2,227,832
2,227,832
Repayments of capital
(1,520,000)
(1,520,000)
(1,520,000)
Other movements
(274)
274
–
–
------------
----
------------
------------
Balance at 31st December 2023
707,832
–
707,832
707,832
------------
----
------------
------------
Boultbee Brooks (Park 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, 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.
Going concern
The LLP has sold it's investment property. As soon as it has collected amounts due to it and paid amounts due to creditors it will be dissolved.
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.
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
£
£
Trade debtors
15,256
13,052
Amounts owed by group undertakings and undertakings in which the LLP has a participating interest
660,012
665,946
Other debtors
–
918
---------
---------
675,268
679,916
---------
---------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
92
5,058
Amounts owed to group undertakings and undertakings in which the LLP has a participating interest
–
5,934
Social security and other taxes
2,543
–
-------
--------
2,635
10,992
-------
--------
6.
Financial instruments
Financial assets and liabilities are accounted for on the basis of amortised cost.
7.
Controlling party
The parent LLP is Boultbee Estates Limited whose registered office is at Formal House, 60 St Georges Place, Cheltenham, GL50 3PN.