Accounts filed on 31-12-2014


trueEasby Stud and Development Company Limited017259692014-12-31143774017402631682311198483410010024447124447116823111984834168231119848345039288064303084128997534769835427351975660914545922452412820214998911783831178404305111783531178353Basis of accounting The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). Investment properties Investment properties are valued at their open market value. In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), no depreciation is provided on freehold investment properties. The departure from the requirement of the Companies Act for all properties to be depreciated is, in the opinion of the directors, necessary for the financial statements to give a true and fair view.Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Deferred taxation Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions: Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold. Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date. Fixed Assets All fixed assets are initially recorded at cost. Financial Instruments Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.Fixtures & FittingsStraight line0.1000 Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit. 86028602857285512111783531178353118695511869558572855121Ordinary2000012000020000Ordinary1100100100The directors' loan account was overdrawn as a result of excess drawings. This is in contravention of S197 of the Companies Act 2006. Directors' loan interest was charged on the overdrawn loan amounting to £670 which was calculated using the averageofficial rate of interest. The above transactions resulted in the directors' loan account being overdrawn at the year end by £34,548 (2013 - £30,720).ULTIMATE CONTROLLING PARTYThe company was under the control of Mr G R Orchard throughout the current and previous year. Mr G R Orchard is the Managing Director and majority shareholder.2015-08-31Mr G R Orchardtruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureEasby Stud and Development Company Limited2014-01-012014-12-31Easby Stud and Development Company Limited2013-01-012013-12-31Easby Stud and Development Company Limited2012-12-31Easby Stud and Development Company Limited2013-12-31Easby Stud and Development Company Limited2013-12-31Easby Stud and Development Company Limited2014-12-312015-09-16