Shade Oak Stud Bloodstock Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05069631 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

SHADE OAK STUD BLOODSTOCK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P D Hockenhull

Mrs E Hockenhull

SECRETARY:

Mrs E Hockenhull

REGISTERED OFFICE:

Shade Oak Stud

Bagley

Ellesmere

Shropshire

SY12 9BY

REGISTERED NUMBER:

05069631 (England and Wales)

ACCOUNTANTS:

TCA (Shrewsbury) LLP

4 Claremont Bank

Shrewsbury

Shropshire

SY1 1RW

FIXED ASSETS

Tangible assets

4

342,403

321,986

CURRENT ASSETS

Stocks

198,750

274,900

Debtors

5

209,704

213,645

Cash at bank

669,354

276,729

1,077,808

765,274

CREDITORS

Amounts falling due within one year

6

498,676

268,281

NET CURRENT ASSETS

579,132

496,993

TOTAL ASSETS LESS CURRENT LIABILITIES

921,535

818,979

CREDITORS

Amounts falling due after more than one year

7

(367,301

)

(548,123

)

PROVISIONS FOR LIABILITIES

(64,660

)

(60,269

)

NET ASSETS

489,574

210,587

CAPITAL AND RESERVES

Called up share capital

2,000

2,000

Retained earnings

487,574

208,587

489,574

210,587

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 18 July 2019 and were signed on its behalf by:

P D Hockenhull - Director

1.	STATUTORY INFORMATION

Shade Oak Stud Bloodstock Limited is a private company, limited by shares , registered in England

and Wales. The company's registered number and registered office address can be found on the

Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2017 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2018

634,638

Additions

60,699

Disposals

(32,500

)

At 31 December 2018

662,837

DEPRECIATION

At 1 January 2018

312,652

Charge for year

40,282

Eliminated on disposal

(32,500

)

At 31 December 2018

320,434

NET BOOK VALUE

At 31 December 2018

342,403

At 31 December 2017

321,986

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

195,570

193,162

Other debtors

14,134

20,483

209,704

213,645

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

89,504

98,611

Taxation and social security

190,093

86,582

Other creditors

219,079

83,088

498,676

268,281

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Trade creditors

-

69,257

Other creditors

367,301

478,866

367,301

548,123

8.	RELATED PARTY DISCLOSURES

During the year the company paid rent of £83,800 (2017: £83,800) to P D & E Hockenhull, a

partnership that the directors are partners within.

Included within other creditors due within one year is a loan with P D & E Hockenhull of £367,301

(2017: £478,865).

9.	ULTIMATE CONTROLLING PARTY

The company is under the control of P & E Hockenhull, the directors, who between them are the

majority shareholders.