Silverfin false false 31/05/2024 01/06/2023 31/05/2024 Elaine Murdoch 04/04/2016 Robert Murdoch 04/04/2016 Thomas Robert Murdoch 31/05/2017 29 November 2024 The principal activity of the company continued to be that of egg production. SC531604 2024-05-31 SC531604 bus:Director1 2024-05-31 SC531604 bus:Director2 2024-05-31 SC531604 bus:Director3 2024-05-31 SC531604 2023-05-31 SC531604 core:CurrentFinancialInstruments 2024-05-31 SC531604 core:CurrentFinancialInstruments 2023-05-31 SC531604 core:Non-currentFinancialInstruments 2024-05-31 SC531604 core:Non-currentFinancialInstruments 2023-05-31 SC531604 core:ShareCapital 2024-05-31 SC531604 core:ShareCapital 2023-05-31 SC531604 core:RetainedEarningsAccumulatedLosses 2024-05-31 SC531604 core:RetainedEarningsAccumulatedLosses 2023-05-31 SC531604 core:LandBuildings 2023-05-31 SC531604 core:OtherPropertyPlantEquipment 2023-05-31 SC531604 core:LandBuildings 2024-05-31 SC531604 core:OtherPropertyPlantEquipment 2024-05-31 SC531604 2023-06-01 2024-05-31 SC531604 bus:FilletedAccounts 2023-06-01 2024-05-31 SC531604 bus:SmallEntities 2023-06-01 2024-05-31 SC531604 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 SC531604 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 SC531604 bus:Director1 2023-06-01 2024-05-31 SC531604 bus:Director2 2023-06-01 2024-05-31 SC531604 bus:Director3 2023-06-01 2024-05-31 SC531604 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-06-01 2024-05-31 SC531604 2022-06-01 2023-05-31 SC531604 core:LandBuildings 2023-06-01 2024-05-31 SC531604 core:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 SC531604 core:Non-currentFinancialInstruments 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Company No: SC531604 (Scotland)

SUNNY SIDE UP FREE RANGE EGGS LTD

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

SUNNY SIDE UP FREE RANGE EGGS LTD

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

SUNNY SIDE UP FREE RANGE EGGS LTD

BALANCE SHEET

As at 31 May 2024
SUNNY SIDE UP FREE RANGE EGGS LTD

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 452,836 528,344
452,836 528,344
Current assets
Stocks 49,000 23,751
Debtors 5 135,348 3,300
Cash at bank and in hand 36,143 25,133
220,491 52,184
Creditors: amounts falling due within one year 6 ( 148,141) ( 259,206)
Net current assets/(liabilities) 72,350 (207,022)
Total assets less current liabilities 525,186 321,322
Creditors: amounts falling due after more than one year 7 0 ( 89,985)
Net assets 525,186 231,337
Capital and reserves
Called-up share capital 2 2
Profit and loss account 525,184 231,335
Total shareholders' funds 525,186 231,337

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Sunny Side Up Free Range Eggs Ltd (registered number: SC531604) were approved and authorised for issue by the Board of Directors on 29 November 2024. They were signed on its behalf by:

Elaine Murdoch
Director
Robert Murdoch
Director
SUNNY SIDE UP FREE RANGE EGGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
SUNNY SIDE UP FREE RANGE EGGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sunny Side Up Free Range Eggs Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Lochwood Farm, Saltcoats, KA21 6NG, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for produce provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of produce is recognised when the significant risks and rewards of ownership of the produce have passed to the buyer (usually on the collection of eggs), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery etc. 10 years straight line
Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost can either be the total cost to purchase the complete item, or the cost to produce the item, including direct materials, fertilisers, feeding, veterinary care and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

4. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 June 2023 225,769 755,077 980,846
At 31 May 2024 225,769 755,077 980,846
Accumulated depreciation
At 01 June 2023 0 452,502 452,502
Charge for the financial year 0 75,508 75,508
At 31 May 2024 0 528,010 528,010
Net book value
At 31 May 2024 225,769 227,067 452,836
At 31 May 2023 225,769 302,575 528,344

5. Debtors

2024 2023
£ £
Other debtors 135,348 3,300

6. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 124,335 16,200
Other creditors 23,806 243,006
148,141 259,206

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 0 89,985

Other creditors totalling £nil (2023 - £314,385) are secured over the assets to which they relate.