P&F Eakin 2014 Limited Company accounts

COMPANY REGISTRATION NUMBER: NI623787

	P&F Eakin 2014 Limited

	Unaudited financial statements

	31 March 2025

P&F Eakin 2014 Limited

Financial statements

Year ended 31 March 2025

Contents	Page

Officers and professional advisers	1

Directors' report	2

Statement of income and retained earnings	3

Statement of financial position	4

Notes to the financial statements	5

The following pages do not form part of the financial statements

Report to the board of directors on the preparation of the unaudited statutory financial statements	9

P&F Eakin 2014 Limited

Officers and professional advisers

The board of directors	P A Eakin
	F C Eakin

Registered office	41A Lisbarnet Road
	Comber
	Newtownards
	Co Down
	BT23 6AW

Accountants	BDO Northern Ireland
	Chartered accountants
	Metro Building, 1st Floor
	6-9 Donegall Square South
	Belfast
	BT1 5JA

Bankers	Allied Irish
	11-15 Donegall Square North
	Belfast
	BT1 5GB

Solicitors	Pinsent Masons Belfast LLP
	1 Lanyon Place
	Belfast
	BT1 3LP

P&F Eakin 2014 Limited

Directors' report

Year ended 31 March 2025

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

Directors

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

P A Eakin
F C Eakin

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 31 October 2025 and signed on behalf of the board by:

P A Eakin

Director

Registered office:

41A Lisbarnet Road

Comber

Newtownards

Co Down

BT23 6AW

P&F Eakin 2014 Limited

Statement of income and retained earnings

Year ended 31 March 2025

	2025	2024
Note	£	£
Turnover	161,591	159,167

	---------	---------
Gross profit	161,591	159,167

Administrative expenses	( 27,040)	( 29,719)
Investment property fair value adjustment	–	168,721
	---------	---------
Operating profit	134,551	298,169

	---------	---------
Profit before taxation	134,551	298,169

Tax on profit	( 33,888)	( 31,829)
	---------	---------
Profit for the financial year and total comprehensive income	100,663	266,340
	---------	---------

Retained earnings at the start of the year	665,003	398,663
	---------	---------
Retained earnings at the end of the year	765,666	665,003
	---------	---------

All the activities of the company are from continuing operations.

P&F Eakin 2014 Limited

Statement of financial position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		2,760,000	2,760,000

Current assets

Debtors	6	27,409	32,771
Cash at bank and in hand		443,161	347,229
		---------	---------
		470,570	380,000

Creditors: amounts falling due within one year	7	2,464,804		2,474,897
		------------		------------
Net current liabilities			1,994,234	2,094,897
			------------	------------
Total assets less current liabilities			765,766	665,103
			---------	---------
Net assets			765,766	665,103
			---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	765,666	665,003
	---------	---------
Shareholders funds	765,766	665,103
	---------	---------

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 31 March 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 .

These financial statements were approved by the board of directors and authorised for issue on 31 October 2025 , and are signed on behalf of the board by:

P A Eakin

Director

Company registration number: NI623787

P&F Eakin 2014 Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 41A Lisbarnet Road, Comber, Newtownards, Co Down, Northern Ireland, BT23 6AW. The principal activity of the company during the year was property investment in the United Kingdom.

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 going concern basis and in accordance with the historical cost convention modified to include certain items at fair value. The financial statements are prepared in sterling, which is the functional currency of the entity. The financial reporting framework that has been applied in their preparation is the Companies Act 2006 (the Act) and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland issued by the Financial Reporting Council. The company qualifies as a small company for the period, as defined by section 382 of the Act, in respect of the financial year, and has applied the rules of the 'Small Companies Regime' in accordance with section 381 of the Act and Section 1A of FRS 102.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The directors are of the opinion that no significant judgements were required in preparing the financial statements. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year as follows: Investment property are valued using recent market evidence of similar properties in the same location and condition. Any changes in fair value are recognised in profit or loss.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rental income, stated net of discounts and of Value Added Tax.

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.

Cash and cash equivalents

Cash consists of cash on hand. There are no cash equivalents included in the financial statements.

Other financial assets

Other financial assets comprise trade debtors, amounts owed by related parties and other debtors. Other financial assets are initially measured at the undiscounted amount of cash receivable and are subsequently measured at amortised cost less impairment, where there is objective evidence of an impairment.

Other financial liabilities

Other financial liabilities include trade creditors, amounts owed to related parties and other creditors. Other financial liabilities are measured at invoice price, unless payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. In this case the arrangement constitutes a financing transaction, and the financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

4. Employee numbers

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

5. Tangible assets

	Investment property
	£
Cost
At 1 April 2024 and 31 March 2025	2,760,000
	------------
Depreciation
At 1 April 2024 and 31 March 2025	–
	------------
Carrying amount
At 31 March 2025	2,760,000
	------------
At 31 March 2024	2,760,000
	------------

Tangible assets held at valuation

The directors are of the opinion that the valuation represents a prudent approximation of the open market value of properties at 31 March 2025.

6. Debtors

	2025	2024
	£	£
Trade debtors	3,622	11,650
Amounts owed by related parties	17,681	17,681
Prepayments and accrued income	4,606	1,940
Other debtors	1,500	1,500
	--------	--------
	27,409	32,771
	--------	--------

All amounts are due within one year. Amounts owed by related parties are interest free, unsecured and repayable on demand.

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	3,043	9,446
Amounts owed to related parties	2,409,400	2,409,400
Accruals and deferred income	15,430	18,874
Corporation tax	33,888	31,829
Social security and other taxes	3,043	5,348
	------------	------------
	2,464,804	2,474,897
	------------	------------

Amounts owed to related parties are interest free, unsecured and repayable on demand.

8. Related party transactions

The company was under the control of the directors during the year. There were no transactions in the year that require disclosure under Section 1A of FRS 102.

P&F Eakin 2014 Limited

Management information

Year ended 31 March 2025

The following pages do not form part of the financial statements.

P&F Eakin 2014 Limited

Report to the board of directors on the preparation of the unaudited statutory financial statements of P&F Eakin 2014 Limited

Year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of P&F Eakin 2014 Limited for the year ended 31 March 2025, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of Chartered Accountants Ireland, we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie. This report is made solely to the Board of Directors of P&F Eakin 2014 Limited, as a body, in accordance with the terms of our engagement letter dated 21 May 2025. Our work has been undertaken solely to prepare for your approval the financial statements of P&F Eakin 2014 Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than P&F Eakin 2014 Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that P&F Eakin 2014 Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of P&F Eakin 2014 Limited. You consider that P&F Eakin 2014 Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of P&F Eakin 2014 Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

BDO Northern Ireland Chartered accountants

Metro Building, 1st Floor 6-9 Donegall Square South Belfast BT1 5JA

31 October 2025