Registration number: NI644358

Shaughan Eggs Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 10

Shaughan Eggs Limited

Company Information

Directors

Mr Declan McGuinness Eileen McGuinness

Registered office

41 Drumnahunshin Road Whitecross Armagh Northern Ireland BT60 2TF

Solicitors

Stephen Begley & Co Solicitors Regina House 9 Merchants Quay Newry Down BT35 6AL

Accountants

SP McKeown & Co Ltd Chartered Certified Accountants, Registered Auditors and Tax Advisors5 Lower Catherine Street Newry Co Down BT35 6BE

Shaughan Eggs Limited

(Registration number: NI644358)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	2,278,874	2,170,324
Current assets
Stocks	5	23,329	33,683
Debtors	6	636,584	91,845
Cash at bank and in hand		259,110	184,626
		919,023	310,154
Creditors: Amounts falling due within one year	7	(2,222,984)	(1,390,018)
Net current liabilities		(1,303,961)	(1,079,864)
Total assets less current liabilities		974,913	1,090,460
Creditors: Amounts falling due after more than one year	7	(54,749)	(299,135)
Provisions for liabilities		(111,923)	(83,120)
Net assets		808,241	708,205
Capital and reserves
Called up share capital	8	2	1
Retained earnings		808,239	708,204
Shareholders' funds		808,241	708,205

For the financial 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 December 2025 and signed on its behalf by:
 

......................................... Mr Declan McGuinness Director

Shaughan Eggs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
41 Drumnahunshin Road
Whitecross
Armagh
BT60 2TF
Northern Ireland

These financial statements were authorised for issue by the Board on 22 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Shaughan Eggs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant & Machinery	12.5% Straight Line Basis
Motor Vehicles	20% Reducing balance basis

Amortisation

Amortisation is charged on the deferred income in relation to the government grant for the build of the hen house over 8 years.

Asset class	Amortisation method and rate
Government Grant	12.5% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Shaughan Eggs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 1).

Shaughan Eggs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Land and buildings £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 April 2024	1,510,920	14,000	1,237,882	2,762,802
Additions	69,158	39,835	256,693	365,686
At 31 March 2025	1,580,078	53,835	1,494,575	3,128,488
Depreciation
At 1 April 2024	108,710	8,266	475,502	592,478
Charge for the year	61,422	9,067	186,647	257,136
At 31 March 2025	170,132	17,333	662,149	849,614
Carrying amount
At 31 March 2025	1,409,946	36,502	832,426	2,278,874
At 31 March 2024	1,402,210	5,734	762,380	2,170,324

Included within the net book value of land and buildings above is £1,409,946 (2024 - £1,402,210) in respect of freehold land and buildings.
 

5

Stocks

	2025 £	2024 £
Other inventories	23,329	33,683

6

Debtors

Current	Note	2025 £	2024 £
Trade debtors		8,000	44,010
Amounts owed by related parties	11	557,361	12,486
Other debtors		71,223	35,349
		636,584	91,845

Shaughan Eggs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	86,402	132,711
Trade creditors		1,318,170	567,883
Taxation and social security		15,747	321
Accruals and deferred income		348,330	299,063
Other creditors		454,335	390,040
		2,222,984	1,390,018

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	54,749	299,135

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	2	2	1	1

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	54,749	299,135

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	86,402	132,711

Bank borrowings

Shaughan Eggs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Ulster Bank Loan is denominated in Sterling £ with a nominal interest rate of 3.25%, and the final instalment is due on 1 February 2029. The carrying amount at year end is £141,150 (2024 - £431,845). Debenture by Shaughan Eggs Limited Personal Guarantee by Declan Mc Guiness (Director) for £1,000,000 Freehold 1st Legal Charge of 82 acres of ground owned by Declan Mc Guinness Guarantee for £100,000 by Eileen Mc Guinness Freehold 1st Legal charge of 10 acres owned by Eileen McGuinness

10

Dividends

Interim dividends paid

		2025 £		2024 £
Interim dividend of £500.00 (2024 - £1,000.00) per each Ordinary shares		1,000		1,000

11	Related party transactions

Shaughan Eggs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Dividends paid to directors

		2025 £		2024 £
Mr Declan McGuinness
Dividends		1,000		1,000