Breen Developments Ltd 31/05/2025 iXBRL

Company registration number: NI687899

Breen Developments Ltd

Unaudited filleted financial statements

31 May 2025

Breen Developments Ltd

Contents

Directors and other information

Directors report

Balance sheet

Notes to the financial statements

Breen Developments Ltd

Directors and other information


	Directors	Mr Eamon Breen


	Company number	NI687899


	Registered office	Unit 2a Old Gasworks Business Park
		Kilmorey Street
		Newry
		Co.Down
		BT34 2DH


	Business address	Unit 2a Old Gasworks Business Park
		Kilmorey Street
		Newry
		Co.Down
		BT34 2DH

Breen Developments Ltd

Directors report

Year ended 31 May 2025

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

Directors

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

Mr Eamon Breen

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 19 August 2026 and signed on behalf of the board by:

Mr Eamon Breen

Director

Breen Developments Ltd

Balance sheet

31 May 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	6	4,765		-
		_______		_______
			4,765		-

Current assets
Debtors	7	47,235		-
Cash at bank and in hand		1,418		1
		_______		_______
		48,653		1
Creditors: amounts falling due
within one year	8	( 32,269)		-
		_______		_______
Net current assets			16,384		1
			_______		_______
Total assets less current liabilities			21,149		1

			_______		_______
Net assets			21,149		1
			_______		_______

Capital and reserves
Called up share capital	9		1		1
Profit and loss account			21,148		-
			_______		_______
Shareholders funds			21,149		1
			_______		_______

For the year ending 31 May 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 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 Profit and loss account and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 19 August 2026 , and are signed on behalf of the board by:

Mr Eamon Breen

Director

Company registration number: NI687899

Breen Developments Ltd

Notes to the financial statements

Year ended 31 May 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 2a Old Gasworks Business Park, Kilmorey Street, Newry, Co.Down, BT34 2DH.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.

Judgements and key sources of estimation uncertainty

In the application of of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Turnover

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.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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 are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:


Fittings fixtures and equipment	-	20 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

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.

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 or 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. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2024: 1 ).

5. Tax on profit

Major components of tax expense

	2025	2024
	£	£
Current tax:
UK current tax expense	7,070	-
	_______	_______
Tax on profit	7,070	-
	_______	_______

Reconciliation of tax expense

	2025	2024
	£	£
Profit before taxation	28,218	-
	_______	_______

Profit multiplied by rate of tax	5,361	-
Effect of expenses not deductible for tax purposes	2,614	-
Effect of capital allowances and depreciation	( 905)	-
	_______	_______
Tax on profit	7,070	-
	_______	_______

6. Tangible assets

	Fixtures, fittings and equipment	Total
	£	£
Cost
At 1 June 2024	-	-
Additions	5,576	5,576
	_______	_______
At 31 May 2025	5,576	5,576
	_______	_______
Depreciation
At 1 June 2024	-	-
Charge for the year	811	811
	_______	_______
At 31 May 2025	811	811
	_______	_______
Carrying amount
At 31 May 2025	4,765	4,765
	_______	_______
At 31 May 2024	-	-
	_______	_______

7. Debtors

	2025	2024
	£	£
Trade debtors	40,344	-
Prepayments and accrued income	6,891	-
	_______	_______
	47,235	-
	_______	_______

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	6,731	-
Accruals and deferred income	2,000	-
Corporation tax	7,070	-
Social security and other taxes	15,099	-
Director loan accounts	819	-
Other creditors	550	-
	_______	_______
	32,269	-
	_______	_______

9. Called up share capital

Issued, called up and fully paid

	2025		2024
	No	£	No	£
Ordinary shares of £ 1.00 each	1	1	1	1
	_______	_______	_______	_______

10. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2025
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr Eamon Breen	-	4,438	( 5,257)	( 819)
		_______	_______	_______	_______

2024
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr Eamon Breen	-	-	-	-
		_______	_______	_______	_______

11. Controlling party

By virtue of his shareholding, Eamon Breen is deemed to have the controlling interest in the company.