Boundary Row Opco Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08569681

Boundary Row Opco Limited

Filleted Financial Statements

31 March 2025

Boundary Row Opco Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	3

Boundary Row Opco Limited

Officers and Professional Advisers

The board of directors	Mrs S Kennedy (Appointed 31 March 2025)
	Mrs N Morgan (Appointed 11 March 2025)
	Mrs G Sandom
	Mr S Eastlake (Resigned 6 March 2025)
	Mrs S Singlehurst (Resigned 31 March 2025)

Registered office	10 Canberra House
	Corbygate Business Park
	Priors Haw Road
	Corby
	Northamptonshire
	NN17 5JG

Auditor	Shaw Gibbs (Audit) Limited
	Chartered Certified Accountants & statutory auditor
	264 Banbury Road
	Oxford
	Oxfordshire
	OX2 7DY

Boundary Row Opco Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		97,175	120,638

Current assets

Debtors	6	1,192,422	942,620
Cash at bank and in hand		373,220	858,265
		------------	------------
		1,565,642	1,800,885

Creditors: amounts falling due within one year	7	( 1,962,339)		( 2,279,040)
		------------		------------
Net current liabilities			( 396,697)	( 478,155)
			---------	---------
Total assets less current liabilities			( 299,522)	( 357,517)
			---------	---------
Net liabilities			( 299,522)	( 357,517)
			---------	---------

Capital and reserves

Called up share capital	300,100	300,100
Profit and loss account	( 599,622)	( 657,617)
	---------	---------
Shareholders deficit	( 299,522)	( 357,517)
	---------	---------

These financial statements have been prepared and delivered 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'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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 8 September 2025 , and are signed on behalf of the board by:

Mrs N Morgan

Director

Company registration number: 08569681

Boundary Row Opco Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Canberra House, Corbygate Business Park, Priors Haw Road, Corby, Northamptonshire, NN17 5JG.

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

General information and 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.

Judgements and key sources of estimation uncertainty

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

Revenue recognition

Turnover of the Company is comprised of licence fee, room-hire, service fee and other income. Licence fee income is recognised in the statement of comprehensive income on a straight-line basis over the contract term. Room-hire income is recognised at the fair value of the consideration receivable once the room has been utilised. Service fee income is recognised when the services have been rendered by the Company, the associated costs and recharge margin on those costs can be measured reliably and with reference to the stage of completion of the service. All sources of other income are only recognised when it is probable that the economic benefits will flow to the Company.

Income tax

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Short leasehold	-	5% straight line
Fixtures and fittings	-	20% straight line
Catering equipment	-	20% straight line

Financial instruments

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Income Statement under administrative expenses.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the Balance Sheet. Finance costs and gains or losses relating to financial liabilities are included in the Income Statement. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited directly to equity.

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 using the effective interest method.

Hire purchase and leasing commitments

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Defined contribution pension plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2024: 4 ).

5. Tangible assets

	Short leasehold	Fixtures and fittings	Catering equipment	Total
	£	£	£	£
Cost
At 1 April 2024	7,267	756,696	137,479	901,442
Additions	–	16,850	–	16,850
Disposals	–	( 8,693)	–	( 8,693)
	-------	---------	---------	---------
At 31 March 2025	7,267	764,853	137,479	909,599
	-------	---------	---------	---------
Depreciation
At 1 April 2024	3,512	699,094	78,198	780,804
Charge for the year	364	19,674	20,273	40,311
Disposals	–	( 8,691)	–	( 8,691)
	-------	---------	---------	---------
At 31 March 2025	3,876	710,077	98,471	812,424
	-------	---------	---------	---------
Carrying amount
At 31 March 2025	3,391	54,776	39,008	97,175
	-------	---------	---------	---------
At 31 March 2024	3,755	57,602	59,281	120,638
	-------	---------	---------	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	29,593	36,026
Amounts owed by group undertakings	544,200	–
Prepayments and accrued income	618,629	674,578
Other debtors	–	232,016
	------------	---------
	1,192,422	942,620
	------------	---------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	626,515	684,860
Amounts owed to group undertakings	637,620	729,365
Accruals and deferred income	43,643	74,460
Social security and other taxes	129,676	158,016
Other creditors	524,885	632,339
	------------	------------
	1,962,339	2,279,040
	------------	------------

Amounts owed to group undertakings are interest free and repayable on demand.

8. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	1,062,612	1,062,612
Later than 1 year and not later than 5 years	4,212,185	4,224,797
Later than 5 years	3,937,500	4,987,500
	------------	-------------
	9,212,297	10,274,909
	------------	-------------

There is a 20 year operating lease from 25 December 2013 between Boundary Row Limited and fellow subsidiary Boundary Row OpCo Limited. The value of a rent free period of six months at the beginning of the lease has been apportioned over the life of the lease. Also included within the minimum lease payments under non-cancellable operating leases are several items of leased equipment.

9. Contingencies

The Company has agreed a security agreement with Standard Life Investments Limited as a security trustee in respect of external bank debt by its parent company, LSO Services Limited, for the Common Secured Parties for all present, future, actual or contingent liabilities by way of a fixed and floating charge over all current and future assets of the Company. The Company has also agreed a security agreement with Precap Vii S.À R.L. as a security trustee in respect of external debt by Plywyn Limited (a parent Company of LSO Services Limited), for the Common Secured Parties for all present, future, actual or contingent liabilities by way of a fixed and floating charge over all current and future assets of the Company.

10. Summary audit opinion

The auditor's report dated 9 September 2025 was unqualified .

The senior statutory auditor was Robyn Liddell , for and on behalf of Shaw Gibbs (Audit) Limited .

11. Related party transactions and ultimate controlling party

Mr G Fuchs and Mrs N Morgan are directors of Office Space in Town Limited who are the managing agents for the Company. Mr G Fuchs and Mrs N Morgan are also directors of Haryl (1991) Limited. During the year, Haryl (1991) Limited repaid Boundary Row OpCo Limited £232,016 (2024: £0). As at the year end the total loan balance Haryl (1991) Limited owed the Company amounted to £0 (2024: £232,016). The immediate parent of the Company is LSO Services Limited. The registered office is First Names House, Victoria Road, Douglas, Isle of Man, IM2 4DF. The ultimate controlling party is Office Space in Town Limited. A copy of the Group accounts can be obtained from Office Space in Town Limited, whose registered office is 10 Canberra House, Corbygate Business Park, Corby, Northants, NN17 5JG. The company has availed itself of the exemption contained within FRS 102 Section 1AC.35 Related Party Disclosures not to disclose details of transactions with fellow group entities concluded under normal market conditions.