Earney Contracts Ltd Company accounts

COMPANY REGISTRATION NUMBER: NI011627

Earney Contracts Ltd

Unaudited Financial Statements

30 April 2025

Earney Contracts Ltd

Financial Statements

Year ended 30 April 2025

Contents	Page

Director's report	1

Statement of income and retained earnings	2

Statement of financial position	3

Notes to the financial statements	4

Earney Contracts Ltd

Director's Report

Year ended 30 April 2025

The director presents his report and the unaudited financial statements of the company for the year ended 30 April 2025 .

Director

The director who served the company during the year was as follows:

Mr.T Earney

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

Mr.T Earney
Director

Registered office:

221 Comber Road

Ballymacbrennan

Lisburn

Northern Ireland

BT276XY

Earney Contracts Ltd

Statement of Income and Retained Earnings

Year ended 30 April 2025

	2025	2024
Note	£	£
Turnover	19,600	38,435

Cost of sales	31,307	15,858
	--------	--------
Gross (loss)/profit	( 11,707)	22,577

Administrative expenses	53,792	35,071
	--------	--------
Operating loss	( 65,499)	( 12,494)

Other interest receivable and similar income		3,220	1,415
		--------	--------
Loss before taxation	4	( 62,279)	( 11,079)

Tax on loss	–	–
	--------	--------
Loss for the financial year and total comprehensive income	( 62,279)	( 11,079)
	--------	--------

Retained earnings at the start of the year	265,235	276,314
	---------	---------
Retained earnings at the end of the year	202,956	265,235
	---------	---------

All the activities of the company are from continuing operations.

Earney Contracts Ltd

Statement of Financial Position

30 April 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	6,929	8,829
Investments	6	–	522,441
		-------	---------
		6,929	531,270

Current assets

Stocks		–	4,000
Debtors	7	3,430	18,188
Cash at bank and in hand		571,378	98,921
		---------	---------
		574,808	121,109

Creditors: amounts falling due within one year	8	378,759	387,122
		---------	---------
Net current assets/(liabilities)		196,049	( 266,013)
		---------	---------
Total assets less current liabilities		202,978	265,257
		---------	---------

Capital and reserves

Called up share capital	22	22
Profit and loss account	202,956	265,235
	---------	---------
Shareholders funds	202,978	265,257
	---------	---------

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 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 25 September 2025 , and are signed on behalf of the board by:

Mr.T Earney
Director

Company registration number: NI011627

Earney Contracts Ltd

Notes to the Financial Statements

Year ended 30 April 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 221 Comber Road, Ballymacbrennan, Lisburn, BT276XY, Northern Ireland.

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, 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 is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Freehold property	-	30% reducing balance
Plant and machinery	-	30% reducing balance
Fixtures and fittings	-	30% reducing balance
Motor vehicles	-	30% reducing balance

Investments

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

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the company 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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Profit before taxation

Profit before taxation is stated after charging:

	2025	2024
	£	£
Depreciation of tangible assets	3,016	3,785
	-------	-------

5. Tangible assets

	Freehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 May 2024	6,300	44,742	95,963	55,345	202,350
Additions	–	6,000	–	–	6,000
Disposals	–	( 44,743)	( 95,963)	( 500)	( 141,206)
	-------	--------	--------	--------	---------
At 30 April 2025	6,300	5,999	–	54,845	67,144
	-------	--------	--------	--------	---------
Depreciation
At 1 May 2024	6,254	42,718	93,604	50,945	193,521
Charge for the year	46	1,800	–	1,170	3,016
Disposals	–	( 42,718)	( 93,604)	–	( 136,322)
	-------	--------	--------	--------	---------
At 30 April 2025	6,300	1,800	–	52,115	60,215
	-------	--------	--------	--------	---------
Carrying amount
At 30 April 2025	–	4,199	–	2,730	6,929
	-------	--------	--------	--------	---------
At 30 April 2024	46	2,024	2,359	4,400	8,829
	-------	--------	--------	--------	---------

6. Investments

	Other investments other than loans
	£
Cost
At 1 May 2024	522,441
Disposals	( 522,441)
	---------
At 30 April 2025	–
	---------
Impairment
At 1 May 2024 and 30 April 2025	–
	---------

Carrying amount
At 30 April 2025	–
	---------
At 30 April 2024	522,441
	---------

7. Debtors

	2025	2024
	£	£
Trade debtors	3,264	–
Other debtors	166	18,188
	-------	--------
	3,430	18,188
	-------	--------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	2,125	10,488
Amounts owed to group undertakings and undertakings in which the company has a participating interest	376,634	376,634
	---------	---------
	378,759	387,122
	---------	---------

9. Director's advances, credits and guarantees

At the balance sheet date the company owed director Mr. T Earney £Nil (2023 £Nil).

10. Related party transactions

At the balance sheet date an amount of £376,634 (2023 £376,634) was owed to a company under the significant control of director Mr. T Earney.

11. Controlling party

The company was under the control of sole director and shareholder Mr. T Earney throughout the financial year and at the balance sheet date.