Boultbee Brooks (Talbot Building) Limited Liability Partnership LLP accounts

REGISTERED NUMBER: OC422746

Boultbee Brooks (Talbot Building) Limited Liability Partnership

Unaudited Financial Statements

31 December 2025

Boultbee Brooks (Talbot Building) Limited Liability Partnership

Financial Statements

Year ended 31 December 2025

Contents	Page

Members' report	1

Statement of comprehensive income	3

Statement of financial position	4

Reconciliation of members' interests	6

Notes to the financial statements	8

Boultbee Brooks (Talbot Building) Limited Liability Partnership

Members' Report

Year ended 31 December 2025

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

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 (No.1) Limited
ZMR Business Consultants Limited
Groom Properties Limited
Cowrie Properties Limited
London & Central Securities Limited

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 21 September 2026 and signed on behalf of the members by:

L.Roberts director of designated member Boultbee Estates (No.1) Limited

Registered office:

Shell Store

Canary Drive

Rotherwas

Hereford

HR2 6SR

Boultbee Brooks (Talbot Building) Limited Liability Partnership

Statement of Comprehensive Income

Year ended 31 December 2025

	2025	2024
Note	£	£
Turnover	872,608	697,638

Fair value adjustment investment property		450,000	664,126
Other operating expenses		432,778	291,197
		---------	---------
Operating loss	4	( 10,170)	( 257,685)

Other interest receivable and similar income	21,014	–
Interest payable and similar expenses	185,307	220,729
	---------	---------
Loss for the financial year before members' remuneration and profit shares available for discretionary division among members	(174,463)	(478,414)
	---------	---------

All the activities of the LLP are from continuing operations.

Boultbee Brooks (Talbot Building) Limited Liability Partnership

Statement of Financial Position

31 December 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	7,900,000	8,350,000

Current assets

Debtors	6	231,191	363,559
Cash at bank and in hand		511,232	534,616
		---------	---------
		742,423	898,175

Creditors: amounts falling due within one year	7	306,766	3,153,691
		---------	------------
Net current assets/(liabilities)		435,657	( 2,255,516)
		------------	------------
Total assets less current liabilities		8,335,657	6,094,484

Creditors: amounts falling due after more than one year	8	2,775,635	–
		------------	------------
Net assets		5,560,022	6,094,484
		------------	------------

Represented by:

Loans and other debts due to members

Other amounts	466,470	–

Members' other interests

Members' capital classified as equity	5,762,928	6,313,860
Other reserves	(669,376)	(219,376)
	------------	------------
	5,560,022	6,094,484
	------------	------------

Total members' interests

Loans and other debts due to members	466,470	–
Members' other interests	5,093,552	6,094,484
	------------	------------
	5,560,022	6,094,484
	------------	------------

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 31 December 2025 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 (Talbot Building) Limited Liability Partnership

Statement of Financial Position (continued)

31 December 2025

These financial statements were approved by the members and authorised for issue on 21 September 2026 , and are signed on their behalf by:

L.Roberts director of designated member Boultbee Estates (No.1) Limited

Registered number: OC422746

Boultbee Brooks (Talbot Building) Limited Liability Partnership

Reconciliation of Members' Interests

Year ended 31 December 2025

	Members' other interests			Loans and other debts due to members less any amounts due from members in debtors		Total members' interests
	Members' capital (classified as equity)	Other reserves	Total	Other amounts	Total	Total 2025
	£	£	£	£	£	£
Balance at 1 January 2025	6,313,860	(219,376)	6,094,484	–	–	6,094,484
Loss for the financial year available for discretionary division among members		(174,463)	(174,463)			(174,463)
	------------	---------	------------	----	----	------------
Members' interests after loss for the year	6,313,860	(393,839)	5,920,021	–	–	5,920,021
Other division of profits		(275,537)	(275,537)	275,537	275,537	–
Introduced by members	–		–	–	–	–
Repayments of capital	(300,000)		(300,000)		–	(300,000)
Drawings				(59,999)	(59,999)	(59,999)
Reclassifications	(250,932)	–	(250,932)	250,932	250,932	–
	------------	---------	------------	---------	---------	------------
Balance at 31 December 2025	5,762,928	(669,376)	5,093,552	466,470	466,470	5,560,022
	------------	---------	------------	---------	---------	------------

Boultbee Brooks (Talbot Building) Limited Liability Partnership

Reconciliation of Members' Interests (continued)

Year ended 31 December 2025

	Members' other interests			Loans and other debts due to members less any amounts due from members in debtors		Total members' interests
	Members' capital (classified as equity)	Other reserves	Total	Other amounts	Total	Total 2024
	£	£	£	£	£	£
Balance at 1 January 2024	6,443,147	444,750	6,887,897	–	–	6,887,897
Loss for the financial year available for discretionary division among members		(478,414)	(478,414)			(478,414)
	------------	---------	------------	----	----	------------
Members' interests after loss for the year	6,443,147	(33,664)	6,409,483	–	–	6,409,483
Other division of profits		(185,712)	(185,712)	185,712	185,712	–
Introduced by members	30,000		30,000	–	–	30,000
Repayments of capital	–		–		–	–
Drawings				(345,000)	(345,000)	(345,000)
Reclassifications	(159,287)	–	(159,287)	159,288	159,288	1
	------------	---------	------------	---------	---------	------------
Balance at 31 December 2024	6,313,860	(219,376)	6,094,484	–	–	6,094,484
	------------	---------	------------	---------	---------	------------

Boultbee Brooks (Talbot Building) Limited Liability Partnership

Notes to the Financial Statements

Year ended 31 December 2025

1.	General information

The LLP is 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', 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.

Revenue recognition

Turnover represents income from the provision of serviced office space and related services stated net of VAT.

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.

Boultbee Brooks (Talbot Building) Limited Liability Partnership

Notes to the Financial Statements (continued)

Year ended 31 December 2025

3. Accounting policies (continued)

Members' participation rights (continued)

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'.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

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.	Operating loss

Operating profit or loss is stated after charging:

	2025	2024
	£	£
Fair value adjustments to investment property	450,000	664,126
	---------	---------

5.	Tangible assets

	Freehold property
	£
Cost or valuation
At 1 January 2025	8,350,000
Revaluations	( 450,000)
	------------
At 31 December 2025	7,900,000
	------------
Depreciation
At 1 January 2025 and 31 December 2025	–
	------------
Carrying amount
At 31 December 2025	7,900,000
	------------
At 31 December 2024	8,350,000
	------------

The investment property was valued at its open market value by a director of a designated member. He is a member of the Royal Institute of Chartered Surveyors.

Tangible assets held at valuation

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Freehold property
	£
At 31 December 2025
Aggregate cost	8,561,610
Aggregate depreciation	–
	------------
Carrying value	8,561,610
	------------

At 31 December 2024
Aggregate cost	8,561,610
Aggregate depreciation	–
	------------
Carrying value	8,561,610
	------------

6.	Debtors

	2025	2024
	£	£
Trade debtors	4,077	129,075
Other debtors	227,114	234,484
	---------	---------
	231,191	363,559
	---------	---------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	–	2,838,256
Trade creditors	34,911	36,398
Social security and other taxes	26,969	62,253
Other creditors	244,886	216,784
	---------	------------
	306,766	3,153,691
	---------	------------

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

	2025	2024
	£	£
Other creditors	2,775,635	–
	------------	----

9.	Financial instruments

Financial assets and liabilities are accounted for on an amortised cost basis.

10.	Charges on assets

Investment property and other assets are secured by a charge in respect of a bank loan that is part of a joint facility with other entities in which the member Boultbee Estates NO.1 Limited and Boultbee Developments Limited are interested.

11.	Related party transactions

Included within creditors is £2,843,199 due to Boultbee Brooks (Trimbridge House)Limited. This is in respect of a loan facility in which it is the borrower and the LLP is guarantor. Interest is charged at the same rate as charged by a bank on the portion of the loan advanced to the LLP by Boultbee Brooks( Trimbridge House) Limited.