Boultbee Developments (NO.1) Limited Company accounts

COMPANY REGISTRATION NUMBER: 07889319

Boultbee Developments (NO.1) Limited

Unaudited Financial Statements

31 December 2024

Boultbee Developments (NO.1) Limited

Financial Statements

Year ended 31st December 2024

Contents	Page

Directors' report	1

Statement of comprehensive income	2

Statement of financial position	3

Statement of changes in equity	4

Notes to the financial statements	5

Boultbee Developments (NO.1) Limited

Directors' Report

Year ended 31st December 2024

The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2024 .

Directors

The directors who served the company during the year were as follows:

L. Roberts
C.E. Boultbee Brooks

Events after the end of the reporting period

Particulars of events after the reporting date are detailed in note 7 to the financial statements.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 23 September 2025 and signed on behalf of the board by:

L. Roberts

Director

Registered office:

Formal House

60 St Georges Place

Cheltenham

GL50 3PN

Boultbee Developments (NO.1) Limited

Statement of Comprehensive Income

Year ended 31st December 2024

	2024	2023
Note	£	£
Turnover	180,757	184,834

Staff costs	4	43,768	175,767
Other operating expenses		12,396	25,924
		---------	---------
Operating profit/(loss)		124,593	( 16,857)

Other interest receivable and similar income	7,459	68,465
Interest payable and similar expenses	18,015	–
	---------	---------
Profit before taxation	114,037	51,608

Tax on profit	( 12,128)	( 132,262)
	---------	---------
Profit for the financial year and total comprehensive income	126,165	183,870
	---------	---------

Boultbee Developments (NO.1) Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Current assets

Debtors	5	58,189,337	58,090,387
Cash at bank and in hand		410,335	420,541
		-------------	-------------
		58,599,672	58,510,928

Creditors: amounts falling due within one year	6	1,486,417	1,523,838
		-------------	-------------
Net current assets		57,113,255	56,987,090
		-------------	-------------
Total assets less current liabilities		57,113,255	56,987,090
		-------------	-------------

Capital and reserves

Called up share capital	101,000	101,000
Profit and loss account	57,012,255	56,886,090
	-------------	-------------
Shareholders funds	57,113,255	56,987,090
	-------------	-------------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' 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 company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 23 September 2025 , and are signed on behalf of the board by:

L. Roberts

Director

Company registration number: 07889319

Boultbee Developments (NO.1) Limited

Statement of Changes in Equity

Year ended 31st December 2024

	Called up share capital	Profit and loss account	Total
	£	£	£
At 1st January 2023	101,000	56,702,220	56,803,220

Profit for the year		183,870	183,870
	---------	-------------	-------------
Total comprehensive income for the year	–	183,870	183,870

At 31st December 2023	101,000	56,886,090	56,987,090

Profit for the year		126,165	126,165
	---------	-------------	-------------
Total comprehensive income for the year	–	126,165	126,165

	---------	-------------	-------------
At 31st December 2024	101,000	57,012,255	57,113,255
	---------	-------------	-------------

Boultbee Developments (NO.1) Limited

Notes to the Financial Statements

Year ended 31st December 2024

1. General information

The company is a private company limited by shares, 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'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

Going concern

It is anticipated that the company's business will be hived up to its parent company and its operation will cease. The accounts have not been prepared as if the company will be a going concern. All assets are stated at their recoverable and no material adjustments are required. All know liabilities are as stated.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents interest and finance fees receivable excluding VAT.

Income tax

The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

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. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Staff costs

The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).

The aggregate employment costs incurred during the year were:

	2024	2023
	£	£
Wages and salaries	22,917	125,000
Social security costs	3,163	12,017
Other pension costs	17,688	38,750
	--------	---------
	43,768	175,767
	--------	---------

5. Debtors

	2024	2023
	£	£
Trade debtors	29,000	26,500
Amounts owed by group undertakings and undertakings in which the company has a participating interest	58,154,815	58,058,365
Other debtors	5,522	5,522
	-------------	-------------
	58,189,337	58,090,387
	-------------	-------------

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

	2024	2023
	£	£
Other debtors	57,853,385	57,618,865
	-------------	-------------

Debtors are technically recoverable within one year. They have been aged to reflect when it is anticipated they will be received.

6. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	343	11,456
Amounts owed to group undertakings and undertakings in which the company has a participating interest	355,697	355,697
Corporation tax	–	12,128
Social security and other taxes	–	4,659
Other creditors	1,130,377	1,139,898
	------------	------------
	1,486,417	1,523,838
	------------	------------

7. Events after the end of the reporting period

As part of a rationalisation program in the group of which the company is a member, the company's business will be hived up to it's parent and it will cease operations.

8. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	Balance brought forward and outstanding
	2024	2023
	£	£
C.E. Boultbee Brooks	( 188)	( 188)
	----	----

9. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2024	2023	2024	2023
	£	£	£	£
Boultbee Estates Limited	–	8,251,024	( 645,173)	( 645,173)
C.J.Boultbee Brooks	–	–	( 22,000)	( 22,000)
Retail Growth LLP	60,813	250,000	(276,521)	(337,334)
	--------	------------	---------	---------

Transaction values referred to above represent net payments and receipts. The company has chosen not to disclose information in relation to 100% owned group companies. The director C.E.Boultbee Brooks was interested in the above mentioned entities.

10. Controlling party

The ultimate controlling party was C.E.Boultbee-Brooks and his family. The parent company was Boultbee Developments Holdings Limited whose registered office is: Formal House, 60 St Georges Place, Cheltenham, GL50 3PN.