Boultbee Developments Limited Company accounts

COMPANY REGISTRATION NUMBER: 07932060

Boultbee Developments Limited

Unaudited Financial Statements

31 December 2025

Boultbee Developments Limited

Financial Statements

Year ended 31st December 2025

Contents	Page

Directors' report	1

Income statement	2

Statement of financial position	3

Statement of changes in equity	5

Notes to the financial statements	6

Boultbee Developments Limited

Directors' Report

Year ended 31st December 2025

The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2025 .

Principal activities

The principal activity of the company during the year was a holding company of a property development group.

Directors

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

L. Roberts
C.E. 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 18 September 2026 and signed on behalf of the board by:

L. Roberts

Director

Registered office:

Shell Store

Canary Drive

Rotherwas

Hereford

HR2 6SR

Boultbee Developments Limited

Income Statement

Year ended 31st December 2025

	2025	2024
Note	£	£
Other operating expenses	384	5,507
	----	-------
Operating loss	( 384)	( 5,507)

Income from shares in group undertakings	( 403,151)	( 920,714)
Other interest receivable and similar income	1,506,088	921,661
Impairment charge and amounts written of investments	3,922,548	1,406,930
	------------	------------
Loss before taxation	( 2,819,995)	( 1,411,490)

Tax on loss	( 60,780)	–
	------------	------------
Loss for the financial year	( 2,759,215)	( 1,411,490)
	------------	------------

All the activities of the company are from continuing operations.

The company has no other recognised items of income and expenses other than the results for the year as set out above.

Boultbee Developments Limited

Statement of Financial Position

31 December 2025

	2025	2024
Note	£	£

Fixed assets

Investments	4	48,109,891	47,718,766

Current assets

Debtors	5	13,191,929	5,368,226
Cash at bank and in hand		325,447	4,681,249
		-------------	-------------
		13,517,376	10,049,475

Creditors: amounts falling due within one year	6	750,570	464,538
		-------------	-------------
Net current assets		12,766,806	9,584,937
		-------------	-------------
Total assets less current liabilities		60,876,697	57,303,703

Creditors: amounts falling due after more than one year	7	59,417,499	53,085,290
		-------------	-------------
Net assets		1,459,198	4,218,413
		-------------	-------------

Capital and reserves

Called up share capital	8	1,000	1,000
Profit and loss account		1,458,198	4,217,413
		------------	------------
Shareholders funds		1,459,198	4,218,413
		------------	------------

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 2025 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 .

Boultbee Developments Limited

Statement of Financial Position (continued)

31 December 2025

These financial statements were approved by the board of directors and authorised for issue on 18 September 2026 , and are signed on behalf of the board by:

L. Roberts

Director

Company registration number: 07932060

Boultbee Developments Limited

Statement of Changes in Equity

Year ended 31st December 2025

	Called up share capital	Profit and loss account	Total
	£	£	£
At 1st January 2024	1,000	5,628,903	5,629,903

Loss for the year		( 1,411,490)	( 1,411,490)
	-------	------------	------------
Total comprehensive income for the year	–	( 1,411,490)	( 1,411,490)

At 31st December 2024	1,000	4,217,413	4,218,413

Loss for the year		( 2,759,215)	( 2,759,215)
	-------	------------	------------
Total comprehensive income for the year	–	( 2,759,215)	( 2,759,215)

	-------	------------	------------
At 31st December 2025	1,000	1,458,198	1,459,198
	-------	------------	------------

Boultbee Developments Limited

Notes to the Financial Statements

Year ended 31st December 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 Shell Store, Canary Drive, Rotherwas, Hereford, HR2 6SR.

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. The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Income tax

The taxation expense represents the aggregate amount of current and deferred 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.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

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.Investments

	Loans to group undertakings and participating interests	Shares in group undertakings and participating interests	Total
	£	£	£
Cost
At 1st January 2025	43,930,062	11,708,736	55,638,798
Additions	4,483,308	807,473	5,290,781
Disposals	( 174,196)	( 803,750)	(977,946)
	-------------	-------------	-------------
At 31st December 2025	48,239,174	11,712,459	59,951,633
	-------------	-------------	-------------
Impairment
At 1st January 2025	4,470,884	3,449,148	7,920,032
Impairment losses	4,934,947	–	4,934,947
Reversal of impairment losses	( 1,013,237)	–	( 1,013,237)
	-------------	-------------	-------------
At 31st December 2025	8,392,594	3,449,148	11,841,742
	-------------	-------------	-------------

Carrying amount
At 31st December 2025	39,846,580	8,263,311	48,109,891
	-------------	-------------	-------------
At 31st December 2024	39,459,178	8,259,588	47,718,766
	-------------	-------------	-------------

All entities in which the company was interested were engaged in property development activity except for Boultbee Brooks Renewable Energy Limited and Boultbee Brooks Energy Storage that were engaged in the development of solar and battery storage sites with a view to generating and selling energy. Boultbee Brooks Ecoedge Limited was engaged in identifying opportunities in the business of data centres and SUB1 DCS Limted was engaged in providing consultancy services in respect to Data centres.

The company owns 100% of the Ordinary shares of Boultbee Brooks (67-75 Mosley Street) Limited. That company has a 25% interest in its principal activity. The company owns 50 A class Ordinary shares in Boultbee Brooks (E&L Developments) Limited that give it control of the company. Its economic interest is one third.

Subsidiaries, associates and other investments

	Class of share	Percentage of shares held
Subsidiary undertakings
Boultbee Brooks (Orsman) Limited	Ordinary	100
Boultbee (Carshalton) Limited	Ordinary	60
Boultbee Brooks Thirsk Row LLP	Member interest	79.375
Boultbee Brooks (67-75 Mosley Street) Limited	Ordinary	100
63 St Thomas Street Bristol Limited	Ordinary	33.33
Boultbee Brooks (Ambrose Street) LLP	Member interest	99.99
Boultbee Brooks (Richmond) Limited	Ordinary	100
Boultbee Brooks (Victoria St) Limited	Ordinary	100
SUB 1 DCS Limited	Ordinary	20
Infrabee Infrastructure Partners Limited	Ordinary	100
Boultbee Brooks (Energy Storage) Limited	Ordinary	100
Boultbee Brooks (E&L Developments) Limited	Ordinary A class	100
Boultbee Brooks Renewable Energy Limited	Ordinary	100
Boultbee Brooks (79 Mosley Street) Limited	Ordinary	100
Boultbee Brooks (Victoria St.2) Limited	Ordinary	100
Boultbee Brooks (Castle Park) Limited	Ordinary	100
Boultbee Brooks Developments Group Services Limited	Ordinary	100
Boultbee Brooks Ecoedge Limited	Ordinary	100

The results and capital and reserves for the year are as follows:

	Capital and reserves		Profit/(loss) for the year
	2025	2024	2025	2024
	£	£	£	£
Subsidiary undertakings
Boultbee Brooks (Orsman) Limited	525,638	501,775	23,863	5,146
Boultbee (Carshalton) Limited	2,088	2,530	( 442)	(3,600)
Boultbee Brooks Thirsk Row LLP	9,771,728	9,767,040	254,689	223,926
Boultbee Brooks (67-75 Mosley Street) Limited	101	(228)	330	12,637,519
Boultbee Brooks (Ambrose Street) LLP	(651,057)	(45,745)	( 605,312)	1,098,455
Boultbee Brooks (Richmond) Limited	–	(89,948)	–	17
Boultbee Brooks (Victoria St) Limited	(2,170,437)	(807,429)	( 1,363,010)	(267,697)
Infrabee Infrastructure Partners Limited	(9,316)	(9,275)	( 41)	(9,375)
Boultbee Brooks (Energy Storage) Limited	(1,798,014)	(1,542,112)	( 255,903)	(1,127,322)
Boultbee Brooks (E&L Developments) Limited	–	(13,627)	–	(18,095)
Boultbee Brooks Renewable Energy Limited	390,055	(179,119)	( 569,171)	(283,109)
Boultbee Brooks (79 Mosley Street) Limited	53,048	52,955	93	52,954
Boultbee Brooks (Victoria St.2) Limited	181,593	138,037	43,555	15,812
Boultbee Brooks (Castle Park) Limited	(2,492,386)	(405,948)	( 2,086,436)	(336,451)
Boultbee Brooks Developments Group Services Limited	50,009	142,505	( 92,496)	(38,571)
Boultbee Brooks Ecoedge Limited	–	(25,538)	–	(183)
	------------	------------	------------	-------------

5. Debtors

	2025	2024
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	–	20,000
Other debtors	13,191,929	5,348,226
	-------------	------------
	13,191,929	5,368,226
	-------------	------------

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

	2025	2024
	£	£
Other debtors	13,184,511	–
	-------------	----

Debtors due in more than one year are technically repayable on demand. They have been aged to reflect the likelihood of repayment.

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	14,252	14,252
Amounts owed to group undertakings and undertakings in which the company has a participating interest	669,999	295,683
Corporation tax	–	60,780
Other creditors	66,319	93,823
	---------	---------
	750,570	464,538
	---------	---------

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

	2025	2024
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	55,706,299	53,085,290
Other creditors	3,711,200	–
	-------------	-------------
	59,417,499	53,085,290
	-------------	-------------

The amount included within creditors due more than one year is technically due for repayment on demand. The ageing reflects what may happen in terms of repayment .

8. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 0.01 each	100,000	1,000	100,000	1,000
	---------	-------	---------	-------

9. Charges on assets

Investments in subsidiaries stated in the accounts at £100 are secured by a charge in favour of the lender to those companies. Included within loans to group undertakings and participating interests is £28,032,402 that is subordinated to the lender to those companies.

10. Directors' advances, credits and guarantees

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

	2025
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
C.E. Boultbee Brooks	1,800	–	( 1,800)	–
	-------	----	-------	----

	2024
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
C.E. Boultbee Brooks	100,000	1,800	( 100,000)	1,800
	---------	-------	---------	-------

Interest on loans was charged at 2.25%.

11. Related party transactions

Included with other debtors is £5,552,122 due from Sub1(Hoddesdon 1)Limited and £7,632,390 due from Sub1(Birmingham 1) Limited. Interest is charged on these amounts at 10% and 15% respectively. The director C.E.Boultbee Brooks is interested in these companies. Included within others creditors is £3,771,200 owed to Boultbee Estates Limited, a company in which the director C.E.Boultbee Brooks is interested.

12. Controlling party

The parent company was Boultbee Developments Holdings Limited whose registered office is; Shell Store, Canary Drive, Rotherwas, Hereford, HR2 6SR.