Boultbee Construction Limited Company accounts

COMPANY REGISTRATION NUMBER: 02087299

Boultbee Construction Limited

Unaudited Financial Statements

31 December 2024

Boultbee Construction 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 Construction 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:

C.E.B. Boultbee-Brooks
S.J. Boultbee-Brooks

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 29 September 2025 and signed on behalf of the board by:

C.E.B. Boultbee-Brooks

Director

Registered office:

Formal House

60 St Georges Place

Cheltenham

GL50 3PN

Boultbee Construction Limited

Statement of Comprehensive Income

Year ended 31st December 2024

	2024	2023
Note	£	£
Other operating expenses	6,378	5,179
	-------	-------
Operating loss	( 6,378)	( 5,179)

Income from shares in group undertakings	–	52,335
Other interest receivable and similar income	–	( 3,017)
Interest payable and similar expenses	146,065	195,523
	---------	---------
Loss before taxation	( 152,443)	( 151,384)

Tax on loss	–	–
	---------	---------
Loss for the financial year and total comprehensive income	( 152,443)	( 151,384)
	---------	---------

All the activities of the company are from continuing operations.

Boultbee Construction Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Current assets

Debtors	4	42,000	101,666
Cash at bank and in hand		1,035,156	981,827
		------------	------------
		1,077,156	1,083,493

Creditors: amounts falling due within one year	5	10,455	10,414
		------------	------------
Net current assets		1,066,701	1,073,079
		------------	------------
Total assets less current liabilities		1,066,701	1,073,079

Provisions	14,050,263	13,904,198
	-------------	-------------
Net liabilities	( 12,983,562)	( 12,831,119)
	-------------	-------------

Capital and reserves

Called up share capital	200	200
Profit and loss account	( 12,983,762)	( 12,831,319)
	-------------	-------------
Shareholders deficit	( 12,983,562)	( 12,831,119)
	-------------	-------------

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 29 September 2025 , and are signed on behalf of the board by:

C.E.B. Boultbee-Brooks

Director

Company registration number: 02087299

Boultbee Construction Limited

Statement of Changes in Equity

Year ended 31st December 2024

	Called up share capital	Profit and loss account	Total
	£	£	£
At 1st January 2023	200	( 12,679,935)	( 12,679,735)

Loss for the year		( 151,384)	( 151,384)
	----	-------------	-------------
Total comprehensive income for the year	–	( 151,384)	( 151,384)

At 31st December 2023	200	( 12,831,319)	( 12,831,119)

Loss for the year		( 152,443)	( 152,443)
	----	-------------	-------------
Total comprehensive income for the year	–	( 152,443)	( 152,443)

	----	-------------	-------------
At 31st December 2024	200	( 12,983,762)	( 12,983,562)
	----	-------------	-------------

Boultbee Construction 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.

Foreign currency transactions

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Going concern

The company has concluded its business and the directors consider that it has fulfilled its commercial purpose. The directors intend to realise the company's assets and where possible settle all known liabilities. The company has net liabilities of £12,983,562 and no material adjustments are required to the figures to reflect the realisable value of assets. The future of the company depends on the outcome of enquiries from HM Revenue & Customs, details of which are set out in note 8 and for which a a provision has been made. Ultimately ,the directors intend to dissolve the company and therefore the financial statements are not prepared on a going concern basis.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

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	42,000	42,000
Other debtors	–	59,666
	--------	---------
	42,000	101,666
	--------	---------

5. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	6,041	3,000
Other creditors	4,414	7,414
	--------	--------
	10,455	10,414
	--------	--------

6. Contingencies

HM Revenue & Customs have raised an enquiry into the tax treatment of contributions made into a Discretionary Trust and have raised assessments for related taxes on the grounds that there maybe tax liabilities. The directors are liaising with HMRC and the company's legal and professional advisers. Whilst this is ongoing, the directors have been advised that it is appropriate to provide for the liabilities that may arise based upon the assessments received. The provision included within the financial statements is based upon assessments received and liaison with HMRC £14,050,263 (2023:£13,904,198). The company is a guarantor in respect of loans made by The Boultbee Employee Benefit Trust to The Boultbee Decanting EFRBS. The principal due is £19,960,000 plus unpaid interest.

7. Related party transactions

Included within other operating costs is, £3,000 (2023:£1,740) representing charges for accountancy services from Boultbee Brooks Real Estate Limited. Included within trade debtors is £42,000 (2023:£42,000) relating to Boultbee Finance(Shelf 1) Limited. The director Clive Boultbee Brooks was interested in the companies referred to above.