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REGISTERED NUMBER: 04347292 (England and Wales)






















Group Strategic Report,

Report of the Director and

Consolidated Financial Statements

for the Year Ended 31 March 2023

for

Breheny Group Limited

Breheny Group Limited (Registered number: 04347292)






Contents of the Consolidated Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Group Strategic Report 2

Report of the Director 5

Report of the Independent Auditors 9

Consolidated Income Statement 11

Consolidated Other Comprehensive Income 12

Consolidated Balance Sheet 13

Company Balance Sheet 14

Consolidated Statement of Changes in Equity 15

Company Statement of Changes in Equity 16

Consolidated Cash Flow Statement 17

Notes to the Consolidated Cash Flow Statement 18

Notes to the Consolidated Financial Statements 19


Breheny Group Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: J N E Breheny





SECRETARY: S Aziz





REGISTERED OFFICE: Flordon Road
Creeting St Mary
Ipswich
Suffolk
IP6 8NH





REGISTERED NUMBER: 04347292 (England and Wales)





AUDITORS: Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Breheny Group Limited (Registered number: 04347292)

Group Strategic Report
for the Year Ended 31 March 2023

The director presents his strategic report of the company and the group for the year ended 31 March 2023.

REVIEW OF BUSINESS
The 2022/23 has built on the post covid restructure of the Breheny Group. The reported results are the most successful financial year to date.

The results are a reflection of the skills, experience and commitment of our workforce. A strong supply chain and excellent reputation with our client base has strengthened our position as one of the top civil engineering groups in East Anglia.

Continued investment in plant and machinery, the monitoring of our overheads and confidence in the construction sector has contributed to a profitable year despite worldwide matters which are out of our control.

All companies within the group have performed strongly or have vastly improved from the previous year. By having robust procedures and risk management, we have seen projects achieving or exceeding the margins set out from the start.

Breheny Civil Engineering continues to be the flagship business within the group, however our groundworks and utilities companies, Terrasite and Networx respectively, continue to grow and flourish.

BUSINESS OUTLOOK

With economic and political pressures continuing, we have a cautious but positive approach to the forthcoming year. There is a slight downturn in tenders received however we are continuing to win profitable contracts and our turnover targets we still likely to be achieved. There is every indication that the forthcoming financial year will be very successful.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks of the business comprise:

Credit Risk
The group undertakes credit checks of new clients before entering into contracts and reviews continuously the credit ratings of existing clients. Credit risk is mitigated by securing parent and bank guarantees, working for a wide client base and maintaining positive cash balances.

Interest Rate and Liquidity Risks
The group reinvests profits to fund growth, develop the business and maintain positive cash balances. Therefore interest rate and liquidity risks are minimised.

Contractual Risk
The group is exposed to a variety of contractual risks according to the type of contract undertaken. Risks include: unknown ground conditions, adverse weather, material inflation and matching the client's requirements to the correct tender price. These risks are managed by regular contract reviews undertaken by the management team.


Breheny Group Limited (Registered number: 04347292)

Group Strategic Report
for the Year Ended 31 March 2023

SECTION 172(1) STATEMENT
The revised UK Corporate Governance Code ('2018 Code') was published in July 2018 and applies to accounting
periods beginning on or after January 1, 2019. The Companies (Miscellaneous Reporting) Regulations 2018 ('2018
MRR') require Directors to explain how they considered the interests of key stakeholders and the broader matters set
out in section 172(1) (A) to (F) of the Companies Act 2006 ('S172') when performing their duty to promote the success of the Company under S172. This includes considering the interest of other stakeholders which will have an impact on the long-term success of the company. This S172 statement, which is reported for the first time, explains how Breheny Group Limited Directors:

- have engaged with employees, suppliers, customers and others; and
- have had regard to employee interests, the need to foster the group's business relationships with suppliers,
customers and other, and the effect of that regards, including on the principal decisions taken by the company during the financial year.

The S172 statement focuses on matters of strategic importance to the group, and the level of information disclosed is consistent with the size and the complexity of the business.

The Board of directors are aware of their responsibilities and when making decisions, each director ensures that they
act in the way that they consider in good faith, would most likely promote the Group's success for the benefit of its
members as a whole and in doing so has regard to:

S172(1) (A) The likely consequences of any decision in the long term. The investments set out in the review of the
business and research and development sections of the strategic report illustrate the long term focus of the directors.

S172(1) (B) The interests of the group's employees. Details of the way the group is set out in the employee
involvement section of the strategic report. The directors recognise that the employees are fundamental to the delivery of strategic ambitions and work closely with their representatives.

S172(1) (C) The need to foster the group's business relationships with suppliers, customers and others. Delivery of
strategic goals requires strong mutually beneficial relationships with suppliers, customers and other agencies. The
business continuously assesses the customer base within the context of business strategy and the management team ensures that these relationships are maintained.

S172(1) (D) The impact of the group's operations on the community and the environment. The group considers
its energy usage looking to make efficiencies where possible. The group continues to invest resources to reduce the
amount of raw materials we use in our activities.

S172(1) (E) The desirability of the group maintaining a reputation for high standards of business conduct.
Compliance with relevant governance standards helps assure that the correct decision are made by the board which
promote high standards of business conduct.

S172(1) (F) The need to act fairly between members of the group. The directors consider all factors when
determining the best course of action to deliver the Group's long term strategic goals. The impact on all stakeholders
is considered as fairly as possible in the interest of the Group.


Breheny Group Limited (Registered number: 04347292)

Group Strategic Report
for the Year Ended 31 March 2023

KEY PERFORMANCE INDICATORS
Financial
The Group measures its financial performance against a selected group of civil engineering companies. The Key Performance Indicators used include: Current Ratio, Quick Ratio (Acid Test), Net Profit Margin, Return on Assets and Net Worth. For the current year the Current Ratio stood at 1.43 (2022: 1.24) and the Gross Profit Margin was 14% (2022: 11%).

Non-Financial
The Group also measures its performance using non-financial indicators. The Key Performance Indicators measured include:

Safety: Accident Incidence Rate, Accident Frequency Rate, Service Strike Frequency Rate and Employee CSCS Card Percentage.

Environment: Environmental Incidents, CO2 Emissions, Office Water Use, Waste Production and Recycled Aggregate Use.

Client Satisfaction: Upon completion of a contract clients are surveyed to determine their satisfaction with the competed project across a range of criteria. The criteria include: Quality of Work, Completion on Time, Teamwork and Savings and Innovation.

ON BEHALF OF THE BOARD:





S Aziz - Secretary


2 October 2023

Breheny Group Limited (Registered number: 04347292)

Report of the Director
for the Year Ended 31 March 2023

The director presents his report with the financial statements of the company and the group for the year ended 31 March 2023.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of civil engineering.

DIVIDENDS
No dividends will be distributed for the year ended 31 March 2023.

DIRECTOR
J N E Breheny held office during the whole of the period from 1 April 2022 to the date of this report.

DISABLED EMPLOYEES
The Group gives full consideration to applications for employment from disabled persons where the requirement of the job can be adequately fulfilled by a handicapped or disabled person.

Where existing employees become disabled, it is the Group's policy wherever practical to provide continuing employment under normal terms and conditions and to provide training and carer development and promotion to disabled employees wherever appropriate.

EMPLOYEE INVOLVEMENT
During the year, the policy of providing employees with information about the Group has continued. Employees have also been encouraged to present their suggestions and views.


Breheny Group Limited (Registered number: 04347292)

Report of the Director
for the Year Ended 31 March 2023

GREENHOUSE GAS EMISSIONS, ENERGY CONSUMPTION & ENERGY EFFICIENCY
The details below are base on the calender years.

Carbon Dioxide Emissions
The UK annual quantity of emissions in tonnes of carbon dioxide equivalent resulting from activities for which the company is responsible involving the consumption of gas was 6.08 tonnes (2021: 12.91 tonnes).
The quantity involving the consumption of fuel for the purposes of transport was 6,370.10 (2021: 7,084.65) tonnes.
The quantity involving the purchase of electricity for the company's own use, including for the purposes of transport was 155.93 tonnes (2021: 163.4 tonnes).

kWh Usage
The aggregated kWh of UK annual energy consumed from activities for which the company is responsible involving combustion of gas was 33,122 kWh (2021: 70,329 kWh).
The quantity involving the consumption of fuel for the purposes of transport was 20,034,279 kWh (2021: 2,242,302 kWh).
The quantity involving the purchase of electricity by the company for its own use, including for the purposes of transport was 297,241 kWh (2021: 311,459 kWh).

Methodology
Energy consumption is determined from meter readings and invoices received for the given year being assessed. CO2 emissions are determined using the appropriate conversion factor for energy type obtained from UK Government information for company reporting of greenhouse gas emissions.

Ratios
In order to effectively manage the energy performance of the Company's facilities, systems, processes and equipment, management consider mWh per £million of turnover to be the key energy performance indicator (EnPI). The ratios for this year are as follows:

Energy type EnPl 2022 ratio 2021 ratio
Gas oil MWh/£Million turnover 399.27 3,247.47
Diesel MWh/£Million turnover 1,917.99 298.14
Petrol MWh/£Million turnover 8.38 12.39
Natural Gas MWh/£Million turnover 3.18 9.74
Electricity MWh/£Million turnover 28.58 43.13
Biomass MWh/£Million turnover 0.17 57.33


Measures taken to improve efficiency
The following environmental management measures and projects have been completed or implemented since the 2018 baseline.

- All BCE owned premises have had their fluorescent lighting replaced with LEDs;
- EVs added to company car scheme;
- Charge Points for EVs have been installed at Breheny regional offices;
- Microsoft Teams has been utilised within the business to enable internal and external meetings to be held online.

Reporting limitations
Under our current reporting mechanisms energy data can only be collated annually, it is not possible at the moment to identify seasonal trends. This is currently being addressed.


Breheny Group Limited (Registered number: 04347292)

Report of the Director
for the Year Ended 31 March 2023

ENGAGEMENT WITH EMPLOYEES
The Welfare of our Employees

One of Breheny's major strengths it that it always has maintained the feel of a family run business. Directors and Senior Managers engage with it's workforce on a personal and professional level to bring out the best in not only employee but employer as well.

The stress and pressure of working in a challenging industry coupled with economic issues has driven understanding to ensure that mental health and wellbeing are at the forefront of the employment policy. We continue to offer Employee Assistance Programs (EAP) and Mental Health Programmes to our work force which has had a positive impact.

Communication

The group promotes an open door policy. Due to positive management, we encourage our staff to express ideas
and opinions for the betterment of the work place and individual. Group updates and workshops are held on a
regular basis to enforce group policy and to invite suggestion from all employees. It has been found that investing in
people has ensured job satisfaction and has enhanced the work place.

Health and Safety

The Group's behavioural safety initiative is called "Think Safe, Work Safe, Home Safe". This system is all
encompassing as it focuses both on safe and unsafe acts. This programme incorporates the principles of visible felt
leadership and utilises workplace observations and discussion to generate the necessary changes in behaviour at the point of work.

Financial and Economic Factors

Communication with our employees is critical at all times, not just in times of economic hardship. Through all forms of
communication, the group informs the work force of the negative and positive factors which impacts our industry and
ultimately the group. In order to maintain morale and certainty, this is paramount to ensuring we have a successful
workplace.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Breheny Group Limited (Registered number: 04347292)

Report of the Director
for the Year Ended 31 March 2023


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:





S Aziz - Secretary


2 October 2023

Report of the Independent Auditors to the Members of
Breheny Group Limited

Opinion
We have audited the financial statements of Breheny Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
Breheny Group Limited


Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page seven, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our work is performed to include an assessment of the susceptibility of the entity's financial statements to material misstatement, including the risk of fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

In identifying and assessing risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

- We plan our work to gain an understanding of the significant laws and regulations that are of significance to the
entity and the sector in which they operate. We perform our work to ensure that the entity is complying with its
legal and regulatory framework.
- We obtained an understanding of how the company is complying with those legal and regulatory frameworks by
making inquiries to the management and people charged with governance.

We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

- Substantive procedures performed in accordance with the ISAs (UK).
- Challenging assumptions and judgments made by management in its significant accounting estimates.
- Identifying and testing journal entries, in particular material journal entries and an assessment of year end
journals.
-
Assessing the extent of compliance with the relevant laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Kevin Shaw BSc FCA (Senior Statutory Auditor)
for and on behalf of Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

2 October 2023

Breheny Group Limited (Registered number: 04347292)

Consolidated
Income Statement
for the Year Ended 31 March 2023

2023 2022
Notes £    £   

TURNOVER 141,160,738 106,839,651

Cost of sales 120,288,190 94,595,072
GROSS PROFIT 20,872,548 12,244,579

Administrative expenses 11,690,107 8,700,717
9,182,441 3,543,862

Other operating income 3 137,279 134,877
OPERATING PROFIT 5 9,319,720 3,678,739

Interest receivable and similar income 6 718 -
9,320,438 3,678,739

Interest payable and similar expenses 7 42,914 5,342
PROFIT BEFORE TAXATION 9,277,524 3,673,397

Tax on profit 8 1,636,987 433,571
PROFIT FOR THE FINANCIAL YEAR 7,640,537 3,239,826
Profit attributable to:
Owners of the parent 7,721,903 3,113,818
Non-controlling interests (81,366 ) 126,008
7,640,537 3,239,826

Breheny Group Limited (Registered number: 04347292)

Consolidated
Other Comprehensive Income
for the Year Ended 31 March 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 7,640,537 3,239,826


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

7,640,537

3,239,826

Total comprehensive income attributable to:
Owners of the parent 7,721,903 3,113,778
Non-controlling interests (81,366 ) 126,048
7,640,537 3,239,826

Breheny Group Limited (Registered number: 04347292)

Consolidated Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 362,781 348,293
Tangible assets 11 10,935,236 9,385,638
Investments 12 489,200 489,200
Investment property 13 1,543,000 1,543,000
13,330,217 11,766,131

CURRENT ASSETS
Stocks 14 5,885,948 1,651,277
Debtors 15 34,639,437 37,268,832
Cash at bank 17,554,013 14,616,359
58,079,398 53,536,468
CREDITORS
Amounts falling due within one year 16 40,710,485 43,229,441
NET CURRENT ASSETS 17,368,913 10,307,027
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,699,130

22,073,158

CREDITORS
Amounts falling due after more than one
year

17

(1,326,889

)

(1,296,501

)

PROVISIONS FOR LIABILITIES 20 (1,430,164 ) (475,117 )
NET ASSETS 27,942,077 20,301,540

CAPITAL AND RESERVES
Called up share capital 21 800,000 800,000
Revaluation reserve 22 349,472 1,327,343
Capital redemption reserve 22 200,000 200,000
Fair value reserve 22 606,229 606,229
Retained earnings 22 25,887,142 17,187,368
SHAREHOLDERS' FUNDS 27,842,843 20,120,940

NON-CONTROLLING INTERESTS 23 99,234 180,600
TOTAL EQUITY 27,942,077 20,301,540

The financial statements were approved by the director and authorised for issue on 2 October 2023 and were signed by:





J N E Breheny - Director


Breheny Group Limited (Registered number: 04347292)

Company Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 1,324,076 2,451,525
Investments 12 4,575,104 4,575,104
Investment property 13 1,543,000 1,543,000
7,442,180 8,569,629

CURRENT ASSETS
Debtors 15 3,996,204 1,005,960
Cash at bank 958,294 2,127,177
4,954,498 3,133,137
CREDITORS
Amounts falling due within one year 16 3,956,362 3,934,810
NET CURRENT ASSETS/(LIABILITIES) 998,136 (801,673 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,440,316

7,767,956

PROVISIONS FOR LIABILITIES 20 44,310 74,218
NET ASSETS 8,396,006 7,693,738

CAPITAL AND RESERVES
Called up share capital 21 800,000 800,000
Revaluation reserve 22 349,472 1,327,343
Capital redemption reserve 22 100,000 100,000
Fair value reserve 22 606,229 606,229
Retained earnings 22 6,540,305 4,860,166
SHAREHOLDERS' FUNDS 8,396,006 7,693,738

Company's profit for the financial year 702,268 410,471

The financial statements were approved by the director and authorised for issue on 2 October 2023 and were signed by:





J N E Breheny - Director


Breheny Group Limited (Registered number: 04347292)

Consolidated Statement of Changes in Equity
for the Year Ended 31 March 2023

Called up Capital
share Retained Revaluation redemption
capital earnings reserve reserve
£    £    £    £   

Balance at 1 April 2021 800,000 14,243,442 1,157,451 200,000

Changes in equity
Total comprehensive income - 2,943,926 169,892 -
Balance at 31 March 2022 800,000 17,187,368 1,327,343 200,000

Changes in equity
Total comprehensive income - 8,699,774 (977,871 ) -
Balance at 31 March 2023 800,000 25,887,142 349,472 200,000
Fair
value Non-controlling Total
reserve Total interests equity
£    £    £    £   

Balance at 1 April 2021 606,229 17,007,122 54,552 17,061,674

Changes in equity
Total comprehensive income - 3,113,818 126,048 3,239,866
Balance at 31 March 2022 606,229 20,120,940 180,600 20,301,540

Changes in equity
Total comprehensive income - 7,721,903 (81,366 ) 7,640,537
Balance at 31 March 2023 606,229 27,842,843 99,234 27,942,077

Breheny Group Limited (Registered number: 04347292)

Company Statement of Changes in Equity
for the Year Ended 31 March 2023

Called up
share Retained Revaluation
capital earnings reserve
£    £    £   

Balance at 1 April 2021 800,000 4,619,587 1,157,451

Changes in equity
Total comprehensive income - 240,579 169,892
Balance at 31 March 2022 800,000 4,860,166 1,327,343

Changes in equity
Total comprehensive income - 1,680,139 (977,871 )
Balance at 31 March 2023 800,000 6,540,305 349,472
Capital Fair
redemption value Total
reserve reserve equity
£    £    £   

Balance at 1 April 2021 100,000 606,229 7,283,267

Changes in equity
Total comprehensive income - - 410,471
Balance at 31 March 2022 100,000 606,229 7,693,738

Changes in equity
Total comprehensive income - - 702,268
Balance at 31 March 2023 100,000 606,229 8,396,006

Breheny Group Limited (Registered number: 04347292)

Consolidated Cash Flow Statement
for the Year Ended 31 March 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 6,753,858 7,995,909
Interest paid (40,584 ) (5,342 )
Interest element of hire purchase payments
paid

(2,330

)

-
Tax paid (5,369 ) 99,597
Net cash from operating activities 6,705,575 8,090,164

Cash flows from investing activities
Purchase of intangible fixed assets (54,797 ) (19,520 )
Purchase of tangible fixed assets (4,921,418 ) (2,102,604 )
Sale of tangible fixed assets 1,374,596 1,586,334
Interest received 718 -
Net cash from investing activities (3,600,901 ) (535,790 )

Cash flows from financing activities
Capital repayments in year (167,020 ) 1,602,023
Net cash from financing activities (167,020 ) 1,602,023

Increase in cash and cash equivalents 2,937,654 9,156,397
Cash and cash equivalents at beginning
of year

2

14,616,359

5,459,962

Cash and cash equivalents at end of year 2 17,554,013 14,616,359

Breheny Group Limited (Registered number: 04347292)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 March 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2023 2022
£    £   
Profit before taxation 9,277,524 3,673,397
Depreciation charges 1,523,153 880,434
Profit on disposal of fixed assets (572,332 ) (554,287 )
Finance costs 42,914 5,342
Finance income (718 ) -
10,270,541 4,004,886
Increase in stocks (3,116,611 ) (1,312,501 )
Decrease/(increase) in trade and other debtors 2,553,063 (7,111,249 )
(Decrease)/increase in trade and other creditors (2,953,135 ) 12,414,773
Cash generated from operations 6,753,858 7,995,909

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 17,554,013 14,616,359
Year ended 31 March 2022
31.3.22 1.4.21
£    £   
Cash and cash equivalents 14,616,359 6,319,536
Bank overdrafts - (859,574 )
14,616,359 5,459,962


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.22 Cash flow At 31.3.23
£    £    £   
Net cash
Cash at bank 14,616,359 2,937,654 17,554,013
14,616,359 2,937,654 17,554,013
Debt
Finance leases (2,287,888 ) 167,020 (2,120,868 )
(2,287,888 ) 167,020 (2,120,868 )
Total 12,328,471 3,104,674 15,433,145

Breheny Group Limited (Registered number: 04347292)

Notes to the Consolidated Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Breheny Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Basis of consolidation
The Consolidated Accounts incorporate the Accounts of Breheny Group Limited and all its subsidiary undertakings. A separate Profit and Loss Account dealing with the results of the company has not been presented in accordance with section 408 of the Companies Act 2006. The acquisition method of accounting has been adopted. Under this method, the results of the subsidiary undertakings acquired or disposed of in the year are included in the consolidated profit and loss account from the date of acquisition or up to the date of the disposal.

An associate is an undertaking in which the Group has a participating interest and exercises significant influence over the operating and financial policies of the company. The Group's share of the profits less losses of the associates is included in the consolidated profit and loss account and its interest in their net assets (including goodwill) is included in investments in the consolidated balance sheet.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Turnover
Turnover comprises the value of contracting work executed during the year plus sundry sales and plant hire earnings. The value of contracting work is based on measured valuations, incorporating profit earned to the valuation date and adjusted for any anticipated losses. Other sales are invoiced upon performance of the services provided.

The amount by which recorded turnover on uncompleted contracts is in excess of payments on account is classified as amounts recoverable on contracts and separately disclosed in debtors.

The amount by which payments on account on uncompleted contracts is in excess of recorded turnover is classified as long term contract payments on account and separately disclosed in creditors.

Software development costs
Software development costs are valued at cost less accumulated amortisation. Amortisation commenced once the software was ready for use, and is being written off over the estimated useful life, which is estimated to be 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold land and buildings - not provided and Straight line over 50 years
Land and development costs - not provided
Plant and machinery - 25% on reducing balance
Fixtures and fittings - Straight line over 4 - 10 years and 25% on cost

In accordance with FRED 67, freehold property is held at the revalued cost on transition. All other classes of asset have been measured on the cost model.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Breheny Group Limited (Registered number: 04347292)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Stocks and work in progress
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Contract Work in Progress, in respect of short term contracts (less than one year), has been valued at the lower of cost including the appropriate production overheads and net realisable value plus a proportion of profit where the contract is material to the results in the year. Long term contracts (more than one year) have been valued on the same basis.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Claims
No value is included for claims outstanding for completed work where the claim had not been agreed at the year end.

Breheny Group Limited (Registered number: 04347292)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023

3. OTHER OPERATING INCOME
2023 2022
£    £   
Rents received 120,279 97,613
Sundry receipts 17,000 17,000
Government grants - 20,264
137,279 134,877

During the year, the group received Coronavirus Job Retention Support grants amounting to £Nil (2022: £20,264).

4. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 21,923,546 17,616,278
Social security costs 2,125,668 1,771,569
Other pension costs 669,495 716,721
24,718,709 20,104,568

The average number of employees during the year was as follows:
2023 2022

Management 11 10
Office staff 94 91
Direct labour 282 251
387 352

The average number of employees by undertakings that were proportionately consolidated during the year was 387 (2022 - 352 ) .

During the year remuneration to key management personnel totalled £816,865 (2022: £635,121).

2023 2022
£    £   
Director's remuneration 1,005,248 382,922
Director's pension contributions to money purchase schemes - 1,428

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes - 1

Information regarding the highest paid director is as follows:
2023 2022
£    £   
Emoluments etc 1,005,248 309,022

Breheny Group Limited (Registered number: 04347292)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
£    £   
Hire of plant and machinery 15,265,562 11,843,622
Depreciation - owned assets 779,181 534,033
Depreciation - assets on hire purchase contracts 703,663 307,701
Profit on disposal of fixed assets (572,332 ) (554,287 )
Devel costs amortisation 40,309 38,699
Audit of these financial statements 16,100 9,500
Audit of financial statements
of subsidiaries pursuant to
legislation 55,300 65,000

6. INTEREST RECEIVABLE AND SIMILAR INCOME
2023 2022
£    £   
Interest on corporation tax 718 -

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank interest 40,584 2,624
Hire purchase 2,330 2,718
42,914 5,342

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 643,018 -
(Over)/under provision in
prior year (6,062 ) -
Total current tax 636,956 -

Deferred tax 1,000,031 433,571
Tax on profit 1,636,987 433,571

Breheny Group Limited (Registered number: 04347292)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023

8. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 9,277,524 3,673,397
Profit multiplied by the standard rate of corporation tax in the UK of 19 %
(2022 - 19 %)

1,762,730

697,945

Effects of:
Expenses not deductible for tax purposes 74,292 63,288
Capital allowances in excess of depreciation (846,746 ) (521,943 )
Amounts written off loans (950 ) -
Profit on fixed asset disposals (108,743 ) -
Chargeable gains - 7,640
Overprovision of tax in prior years (6,061 ) -
Deferred tax 1,000,031 433,571
Movement in losses (237,566 ) (246,930 )
Total tax charge 1,636,987 433,571

9. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


10. INTANGIBLE FIXED ASSETS

Group
Devel
costs
£   
COST
At 1 April 2022 583,290
Additions 54,797
At 31 March 2023 638,087
AMORTISATION
At 1 April 2022 234,997
Amortisation for year 40,309
At 31 March 2023 275,306
NET BOOK VALUE
At 31 March 2023 362,781
At 31 March 2022 348,293

Breheny Group Limited (Registered number: 04347292)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023

11. TANGIBLE FIXED ASSETS

Group
Freehold Land and Fixtures
land and development Plant and and
buildings costs machinery fittings Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2022 2,848,019 3,635,000 9,048,481 320,273 15,851,773
Additions - - 4,921,418 - 4,921,418
Disposals - - (4,041,795 ) - (4,041,795 )
Reclassification (1,200,000 ) - - - (1,200,000 )
At 31 March 2023 1,648,019 3,635,000 9,928,104 320,273 15,531,396
DEPRECIATION
At 1 April 2022 244,420 - 5,901,442 320,273 6,466,135
Charge for year 40,737 - 1,442,107 - 1,482,844
Eliminated on disposal - - (3,239,531 ) - (3,239,531 )
Reclassification (113,288 ) - - - (113,288 )
At 31 March 2023 171,869 - 4,104,018 320,273 4,596,160
NET BOOK VALUE
At 31 March 2023 1,476,150 3,635,000 5,824,086 - 10,935,236
At 31 March 2022 2,603,599 3,635,000 3,147,039 - 9,385,638

Cost or valuation at 31 March 2023 is represented by:

Freehold Land and Fixtures
land and development Plant and and
buildings costs machinery fittings Totals
£    £    £    £    £   
Valuation in 2014 29,496 - - - 29,496
Valuation in 2015 20,000 - - - 20,000
Valuation in 2016 30,000 (3,028,986 ) - - (2,998,986 )
Cost 1,568,523 6,663,986 9,928,104 320,273 18,480,886
1,648,019 3,635,000 9,928,104 320,273 15,531,396

If the freehold properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,568,523 1,703,319

Freehold Properties were valued on an open market basis on 3 May 2016 by Lambert Smith Hampton .

The directors have assessed the valuations at 31 March 2023 and believe them to be accurate.

Breheny Group Limited (Registered number: 04347292)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023

11. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST OR VALUATION
At 1 April 2022 2,438,616
Additions 1,071,158
At 31 March 2023 3,509,774
DEPRECIATION
At 1 April 2022 465,110
Charge for year 703,663
At 31 March 2023 1,168,773
NET BOOK VALUE
At 31 March 2023 2,341,001
At 31 March 2022 1,973,506

Company
Freehold
land and
buildings
£   
COST OR VALUATION
At 1 April 2022 2,695,945
Disposals (1,200,000 )
At 31 March 2023 1,495,945
DEPRECIATION
At 1 April 2022 244,420
Charge for year 40,737
Eliminated on disposal (113,288 )
At 31 March 2023 171,869
NET BOOK VALUE
At 31 March 2023 1,324,076
At 31 March 2022 2,451,525

Cost or valuation at 31 March 2023 is represented by:

Freehold
land and
buildings
£   
Valuation in 2014 29,496
Valuation in 2015 20,000
Valuation in 2016 30,000
Cost 1,416,449
1,495,945

Breheny Group Limited (Registered number: 04347292)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023

11. TANGIBLE FIXED ASSETS - continued

Company

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,416,449 1,551,245
Aggregate depreciation 454,915 468,335

Freehold land and buildings were valued on an open market basis on 3 May 2016 by Lambert Smith Hampton .

The directors have assessed the valuations at 31 March 2023 and believe them to be accurate.

12. FIXED ASSET INVESTMENTS

Group Company
2023 2022 2023 2022
£    £    £    £   
Shares in group undertakings - - 4,575,104 4,575,104
Other loans 489,200 489,200 - -
489,200 489,200 4,575,104 4,575,104

Additional information is as follows:

Company
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 4,575,104
NET BOOK VALUE
At 31 March 2023 4,575,104
At 31 March 2022 4,575,104

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Breheny Civil Engineering Limited
Registered office: Flordon Road, Creeting St.Mary, Needham Market, Ipswich, IP6 8NH
Nature of business: Civil Engineering
%
Class of shares: holding
Ordinary 100.00

Terrasite Limited
Registered office: Flordon Road, Creeting St.Mary, Needham Market, Ipswich, IP6 8NH
Nature of business: Groundworks
%
Class of shares: holding
Ordinary 82.00

Breheny Group Limited (Registered number: 04347292)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023

12. FIXED ASSET INVESTMENTS - continued

Networx Utilities Limited
Registered office: Flordon Road, Creeting St.Mary, Needham Market, Ipswich, IP6 8NH
Nature of business: Utilities
%
Class of shares: holding
Ordinary 90.00

Redbourne Homes (Creeting) Limited
Registered office: Flordon Road, Creeting St.Mary, Needham Market, Ipswich, IP6 8NH
Nature of business: Property Development
%
Class of shares: holding
Ordinary 100.00

Redbourne XYZ Limited
Registered office: Flordon Road, Creeting St.Mary, Needham Market, Ipswich, IP6 8NH
Nature of business:
%
Class of shares: holding
Ordinary 100.00

Jack Breheny Limited
Registered office: Flordon Road, Creeting St.Mary, Needham Market, Ipswich, IP6 8NH
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

J Breheny Developments Limited
Registered office: Flordon Road, Creeting St.Mary, Needham Market, Ipswich, IP6 8NH
Nature of business: Dormant
%
Class of shares: holding
Ordinary 99.00

Butterfly World Project Limited
Registered office: 15 Newland, Lincoln, LN1 1XG
Nature of business: Dormant
%
Class of shares: holding
Ordinary 97.03

Group
Other
loans
£   
At 1 April 2022
and 31 March 2023 489,200


13. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 1,543,000
NET BOOK VALUE
At 31 March 2023 1,543,000
At 31 March 2022 1,543,000

Breheny Group Limited (Registered number: 04347292)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023

13. INVESTMENT PROPERTY - continued

Group

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2014 (194,737 )
Valuation in 2015 9,000
Valuation in 2016 33,000
Valuation in 2017 (4,783 )
Valuation in 2018 632,783
Cost 1,067,737
1,543,000

If investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,067,737 1,067,737

Investment property was valued on an open market basis on 3 May 2016 by Lambert Hampton Smith .

The directors have assessed the valuations at 31 March 2023 and believe them to be accurate.

Company
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 1,543,000
NET BOOK VALUE
At 31 March 2023 1,543,000
At 31 March 2022 1,543,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2014 (194,737 )
Valuation in 2015 9,000
Valuation in 2016 33,000
Valuation in 2017 (4,783 )
Valuation in 2018 632,783
Cost 1,067,737
1,543,000

If investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,067,737 1,067,737

Investment properties were valued on an open market basis on 3 May 2016 by Lambert Smith Hampton .

The directors have assessed the valuations at 31 March 2023 and believe them to be accurate.

Breheny Group Limited (Registered number: 04347292)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023

14. STOCKS

Group
2023 2022
£    £   
Stocks 267,502 117,166
Work-in-progress 5,618,446 1,534,111
5,885,948 1,651,277

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Trade debtors 19,206,245 15,496,751 82,869 -
Amounts owed by group undertakings - - 3,373,653 729,675
Amounts recoverable on contracts 2,877,863 12,471,806 - -
Retentions 8,800,342 7,537,799 - -
Other debtors 3,306,988 1,425,679 539,682 259,798
Tax - 4,651 - 4,651
VAT - - - 11,836
Prepayments and accrued income 447,999 332,146 - -
34,639,437 37,268,832 3,996,204 1,005,960

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Hire purchase contracts (see note 18) 793,979 991,387 - -
Provision for future contract
costs 13,670,829 22,562,521 - -
Trade creditors 18,739,796 14,007,825 - 13,800
Amounts owed to group undertakings - - 3,755,366 3,730,803
Tax 643,018 11,431 10,790 -
Social security and other taxes 923,794 769,282 - -
VAT 110,388 1,501,957 - -
Other creditors 5,766,969 3,329,814 190,206 190,207
Accruals and deferred income 61,712 55,224 - -
40,710,485 43,229,441 3,956,362 3,934,810

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group
2023 2022
£    £   
Hire purchase contracts (see note 18) 1,326,889 1,296,501

Breheny Group Limited (Registered number: 04347292)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023

18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 793,979 991,387
Between one and five years 1,326,889 1,296,501
2,120,868 2,287,888

Group
Non-cancellable operating leases
2023 2022
£    £   
Within one year 537,297 1,028,256
Between one and five years 1,152,715 28,992
1,690,012 1,057,248

Minimum lease receipts fall due as follows:

Non-cancellable operating
leases
2023 2022
£ £

Within one year 104,250 129,763
Between one and five years 432,000 446,250
Five or more years 121,613 69,113
657,863 645,126

Company

Minimum lease receipts fall due as follows:

Non-cancellable operating
leases
2023 2022
£ £

Within one year 104,250 129,763
Between one and five years 432,000 446,250
Five or more years 121,613 69,113
657,863 645,126

Breheny Group Limited (Registered number: 04347292)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023

19. SECURED DEBTS

The following secured debts are included within creditors:

Group
2023 2022
£    £   
Hire purchase contracts 2,120,868 2,287,888

The working capital overdraft facility is secured by an omnibus guarantee and set off agreement, with an unlimited guarantee given by Breheny Group Limited, all subsidiaries within the Breheny Group, and by Redbourne Homes (Epworth) Limited and Redbourne Homes (Nedging Tye) Limited. This is supported by debentures by Breheny Group Limited, by all subsidiaries within the Breheny Group, and by Redbourne Homes (Epworth) Limited and Redbourne Homes (Nedging Tye) Limited.

The Facility is further secured by a first legal charge over all property held by the Breheny Group and its subsidiaries, and over freehold land and buildings held by Redbourne Homes (Epworth) Limited.

Hire purchase contracts are secured over the assets concerned.

20. PROVISIONS FOR LIABILITIES

Group Company
2023 2022 2023 2022
£    £    £    £   
Deferred tax 1,430,164 475,117 44,310 74,218

Group
Deferred
tax
£   
Balance at 1 April 2022 475,117
Accelerated capital allowances 955,047
Balance at 31 March 2023 1,430,164

Company
Deferred
tax
£   
Balance at 1 April 2022 74,218
Accelerated capital allowances (29,908 )
Balance at 31 March 2023 44,310

21. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
800,000 Ordinary £1 800,000 800,000

Breheny Group Limited (Registered number: 04347292)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023

22. RESERVES

Group
Capital Fair
Retained Revaluation redemption value
earnings reserve reserve reserve Totals
£    £    £    £    £   

At 1 April 2022 17,187,368 1,327,343 200,000 606,229 19,320,940
Profit for the year 7,721,903 7,721,903
Depreciation reclassification 21,891 (21,891 ) - - -
Revaluation of investment
property 955,980 (955,980 ) - - -
At 31 March 2023 25,887,142 349,472 200,000 606,229 27,042,843

Company
Capital Fair
Retained Revaluation redemption value
earnings reserve reserve reserve Totals
£    £    £    £    £   

At 1 April 2022 4,860,166 1,327,343 100,000 606,229 6,893,738
Profit for the year 702,268 702,268
Depreciation reclassification 21,891 (21,891 ) - - -
Revaluation of investment
property 955,980 (955,980 ) - - -
At 31 March 2023 6,540,305 349,472 100,000 606,229 7,596,006


23. NON-CONTROLLING INTERESTS

In 2012 the Breheny Group Limited, (via its subsidiary Breheny Civil Engineering Limited) acquired a 97.03% shareholding in Butterfly World Project Limited. The remaining 2.97% is held by minority interests and is reflected on the consolidated balance sheet.

In previous years, the Breheny Group Limited disposed of 22% of the shareholding in both Terrasite Limited and Networx Utilities Limited. Following a movement in the year 18% of Terrasite Limited is held by minority interests and 10% of Networx Utilities Limited, this is reflected on the consolidated balance sheet.

24. PENSION COMMITMENTS

The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the funds and amounted to £1,029,387 (2022: £793,678).

Breheny Group Limited (Registered number: 04347292)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2023

25. RELATED PARTY DISCLOSURES

Entities over which the entity has control or significant influence

The following transactions occurred with entities over which the company/group has control or significant influence:

2023 2022
£ £

Sales 1,789,249 289,061
Purchases 1,827,901 2,453,258

Balances owed to entities 3,836,517 32,801
Balances owed from entities 3,849,190 3,921,368


Other related parties:

The following transactions occurred with entities related by common ownership:

2023 2022
£ £

Sales 1,592,785 780,173
Purchases 5,075,158 1,030,887

Balances owed to entities 622,912 1,461,797
Balances owed from entities 3,067,102 3,701,459

26. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J N E Breheny.