Easby Stud And Development Company Limit - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01725969 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

EASBY STUD AND DEVELOPMENT COMPANY

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr G R Orchard

Mrs L Orchard

REGISTERED OFFICE:

Heatherlea

37 Quakers Lane

Richmond

North Yorkshire

DL10 4BB

REGISTERED NUMBER:

01725969 (England and Wales)

ACCOUNTANTS:

Robson Laidler (Durham) Limited

Accountants

Hadrian House

Front Street

Chester le Street

County Durham

DH3 3DB

FIXED ASSETS

Tangible assets

3

691

1,045

Investment property

4

1,041,778

1,455,000

1,042,469

1,456,045

CURRENT ASSETS

Stocks

-

600

Debtors

5

79,953

8,430

Cash at bank

644,628

239,983

724,581

249,013

CREDITORS

Amounts falling due within one year

6

95,274

16,284

NET CURRENT ASSETS

629,307

232,729

TOTAL ASSETS LESS CURRENT LIABILITIES

1,671,776

1,688,774

PROVISIONS FOR LIABILITIES

16,078

23,652

NET ASSETS

1,655,698

1,665,122

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

7

1,655,598

1,665,022

1,655,698

1,665,122

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 applicable to companies subject to the small companies regime.

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 20 September 2019 and were signed on its behalf by:

Mr G R Orchard - Director

1.	STATUTORY INFORMATION

Easby Stud And Development Company 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.

The presentation currency of the financial statements is the Pound Sterling (£).

Rounding is to the nearest whole pound.

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 as modified by the revaluation of certain assets.

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.

Fixtures and fittings

-

25% straight line basis

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.

Investment property

Investment properties are valued at their open market value. No depreciation is provided on freehold

investment properties.

3.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2018

and 31 December 2018

9,983

DEPRECIATION

At 1 January 2018

8,938

Charge for year

354

At 31 December 2018

9,292

NET BOOK VALUE

At 31 December 2018

691

At 31 December 2017

1,045

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2018

1,455,000

Disposals

(413,222

)

At 31 December 2018

1,041,778

NET BOOK VALUE

At 31 December 2018

1,041,778

At 31 December 2017

1,455,000

The investment property has been recorded at the year end date at fair value as assessed by the

Directors.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

79,953

8,430

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

1,761

2,920

Taxation and social security

85,031

7,931

Other creditors

8,482

5,433

95,274

16,284

7.

RESERVES

Within the profit and loss account reserve is a fair value adjustment of investment property of £214,932

(2017 : £373,799), being the uplift in fair value above cost and the associated deferred tax provided on

the uplift of £16,077 (2017 : £23,652). As these fair value adjustments are not realised profits or

losses, the amount of £198,855 (2017: £350,147) derived from these items form unrealised, non

distributable reserves.