Brayfield Developments Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI637555

Brayfield Developments Limited

Filleted Unaudited Financial Statements

31 July 2025

Brayfield Developments Limited

Financial Statements

Year ended 31 July 2025

Contents	Page

Officers and professional advisers	1

Directors' report	2

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	3

Statement of financial position	4

Notes to the financial statements	6

Brayfield Developments Limited

Officers and Professional Advisers

The board of directors	Mr M Canning
	Mr P Mc Cormack

Registered office	Unit 1 739 Antrim Road
	Belfast
	BT15 4EL

Accountants	Maneely Mc Cann Chartered Accountants
	Chartered Accountants
	Aisling House
	50 Stranmillis Embankment
	Belfast
	BT9 5FL

Bankers	Bank of Ireland
	306-310 Ormeau Road
	Belfast
	BT7 2GE

Brayfield Developments Limited

Directors' Report

Year ended 31 July 2025

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

Directors

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

Mr M Canning
Mr P Mc Cormack

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 20 July 2026 and signed on behalf of the board by:

Mr M Canning

Director

Registered office:

Unit 1 739 Antrim Road

Belfast

BT15 4EL

Brayfield Developments Limited

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Brayfield Developments Limited

Year ended 31 July 2025

As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 July 2025, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

Maneely Mc Cann Chartered Accountants Chartered Accountants

Aisling House 50 Stranmillis Embankment Belfast BT9 5FL

20 July 2026

Brayfield Developments Limited

Statement of Financial Position

31 July 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	4	330,750	330,750

Current assets

Stocks		6,041,058	6,200,694
Debtors	5	1,621,952	1,768,419
Cash at bank and in hand		1,908,967	659,801
		------------	------------
		9,571,977	8,628,914

Creditors: amounts falling due within one year	6	8,014,828	8,270,011
		------------	------------
Net current assets		1,557,149	358,903
		------------	---------
Total assets less current liabilities		1,887,899	689,653

Provisions	10,459	10,459
	------------	---------
Net assets	1,877,440	679,194
	------------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	1,877,340	679,094
	------------	---------
Shareholders funds	1,877,440	679,194
	------------	---------

These financial statements have been prepared and delivered 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'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 July 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 .

Brayfield Developments Limited

Statement of Financial Position (continued)

31 July 2025

These financial statements were approved by the board of directors and authorised for issue on 20 July 2026 , and are signed on behalf of the board by:

Mr M Canning

Director

Company registration number: NI637555

Brayfield Developments Limited

Notes to the Financial Statements

Year ended 31 July 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Unit 1 739 Antrim Road, Belfast, BT15 4EL.

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.

Corporation 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.

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.

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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

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. Tangible assets

	Investment property
	£
Cost
At 1 August 2024 and 31 July 2025	330,750
	---------
Depreciation
At 1 August 2024 and 31 July 2025	–
	---------
Carrying amount
At 31 July 2025	330,750
	---------
At 31 July 2024	330,750
	---------

5. Debtors

	2025	2024
	£	£
Other debtors	1,621,952	1,768,419
	------------	------------

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	532,298	2,191,711
Corporation tax	470,136	71,089
Other creditors	7,012,394	6,007,211
	------------	------------
	8,014,828	8,270,011
	------------	------------

7. Related party transactions

PWD Developments Limited The directors of Brayfield Developments Limited have a participating interest in PWD Developments Limited. At the year end PWD Developments Limited was owed a balance of £475,085 from Brayfield Developments Limited (2024: £655,724 owed to Brayfield Developments Limited ). CHJ (125) Limited The directors of Brayfield Developments Limited have a participating interest in CHJ (125) Limited. At the year end CHJ (125) Limited owed a balance to Brayfield Developments Limited of £1,123,033 (2024: £922,243). Galanta No.2 Limited The directors of Brayfield Developments Limited have a participating interest in Galanta No.2 Limited At the year end Brayfield Developments Limited was due a balance from Galanta No.2 Limited of £50,000 (2024: £50,000).