Waugh Farms Management Limited

	Page
Company Information	1
Balance Sheet	2—3
Notes to the Financial Statements	4—6

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Balance Sheet

As At 31 March 2026

Balance Sheet

Registered number: NI607528

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		3,836,227		3,872,359

			3,836,227		3,872,359
CURRENT ASSETS
Stocks	5	199,957		125,587
Debtors	6	457,259		500,201
Cash at bank and in hand		16		16

		657,232		625,804
Creditors: Amounts Falling Due Within One Year	7	(499,557 )		(402,911 )

NET CURRENT ASSETS (LIABILITIES)			157,675		222,893

TOTAL ASSETS LESS CURRENT LIABILITIES			3,993,902		4,095,252

Creditors: Amounts Falling Due After More Than One Year	8		(37,957 )		(97,532 )

NET ASSETS			3,955,945		3,997,720

CAPITAL AND RESERVES
Called up share capital	10		47,297		47,297
Share premium account			3,927,641		3,927,641
Profit and Loss Account			(18,993 )		22,782

SHAREHOLDERS' FUNDS			3,955,945		3,997,720

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Waugh Farms Management Limited

Balance Sheet (continued)

As At 31 March 2026

For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Alexander Stewart Waugh

Director

11 September 2026

The notes on pages 4 to 6 form part of these financial statements.

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Waugh Farms Management Limited

Notes to the Financial Statements

For The Year Ended 31 March 2026

Notes to the Financial Statements

1. General Information

Waugh Farms Management Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI607528 . The registered office is 85 Blackskull Road, Dromore, County Down, BT25 1JN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods and services falling within the company's ordinary activities.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	2% on cost
Plant & Machinery	25% on reducing balance

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.6. Pensions

The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

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Waugh Farms Management Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.7. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 4 (2025: 4)

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Total
	£	£	£
Cost
As at 1 April 2025	4,109,831	183,966	4,293,797

As at 31 March 2026	4,109,831	183,966	4,293,797

Depreciation
As at 1 April 2025	284,648	136,790	421,438
Provided during the period	24,337	11,795	36,132

As at 31 March 2026	308,985	148,585	457,570

Net Book Value
As at 31 March 2026	3,800,846	35,381	3,836,227

As at 1 April 2025	3,825,183	47,176	3,872,359

5. Stocks

	2026	2025
	£	£
Stock	155,693	88,575
Work in progress	44,264	37,012

	199,957	125,587

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	35,729	58,229
Other debtors	421,530	441,972

	457,259	500,201

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Waugh Farms Management Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	16,719	29,375
Bank loans and overdrafts	280,960	314,729
Other creditors	196,319	52,556
Taxation and social security	5,559	6,251

	499,557	402,911

8. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Bank loans	-	58,254
Other creditors	37,957	39,278

	37,957	97,532

9. Secured Creditors

Of the creditors the following amounts are secured.

(Bank borrowings are secured by mortgages over the fixed assets and by a floating charge.)

	2026		2025
	£		£
Bank loans and overdrafts	280,960		372,983

10. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	47,297	47,297

11. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	At as 1 April 2025 £	Amounts advanced £	Amounts repaid £	Amounts written off £	As at 31 March 2026 £
Mr Alexander Waugh	26,984	-	-	-	26,984
Mr Alexander Waugh	35,562	-	35,562	-	-
Mr Alexander Waugh	-	39,975	1,192	-	38,783

Loan balances are repayable on demand. The interest rate applied is the official rate for beneficial loan arrangements.

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Director	Mr Alexander Stewart Waugh

Company Number	NI607528

Registered Office	85 Blackskull Road
	Dromore
	County Down
	BT25 1JN

Accountants	McCleary & Company Ltd.
	Chartered Accountants and Registered Auditors
	Quaker Buildings
	High Street
	Lurgan
	Co. Armagh
	BT66 8BB

Bankers	Danske Bank
	Agribusiness
	PO Box 183
	Belfast
	Co. Antrim
	BT1 6JS