REGISTERED NUMBER:
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STUART MCPHEE BLOODSTOCK LIMITED |
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Abbreviated Unaudited Accounts |
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for the Year Ended 31 December 2014 |
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REGISTERED NUMBER:
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STUART MCPHEE BLOODSTOCK LIMITED |
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Abbreviated Unaudited Accounts |
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for the Year Ended 31 December 2014 |
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STUART MCPHEE BLOODSTOCK LIMITED (REGISTERED NUMBER: 02989442) |
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Contents of the Abbreviated Accounts |
for the year ended 31 December 2014 |
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Page |
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Company Information | 1 |
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Chartered Certified Accountant's Report | 2 |
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Abbreviated Balance Sheet | 3 | to | 4 |
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Notes to the Abbreviated Accounts | 5 | to | 7 |
STUART MCPHEE BLOODSTOCK LIMITED |
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Company Information |
for the year ended 31 December 2014 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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ACCOUNTANT: |
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BANKERS: |
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Chartered Certified Accountant's Report to the Director |
on the Unaudited Financial Statements of |
Stuart McPhee Bloodstock Limited |
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The following reproduces the text of the report prepared for the director in respect of the company's |
annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages |
three to seven) have been prepared. |
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In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval |
the financial statements of Stuart McPhee Bloodstock Limited for the year ended 31 December 2014 which |
comprise the Profit and Loss Account, the Balance Sheet, and the related notes from the company's accounting |
records and from information and explanations you have given me. |
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As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com. |
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This report is made solely to the director of Stuart McPhee Bloodstock Limited in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of Stuart McPhee Bloodstock Limited and state those matters that I have agreed to state to the director of Stuart McPhee Bloodstock Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and its director for my work or for this report. |
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It is your duty to ensure that Stuart McPhee Bloodstock Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Stuart McPhee Bloodstock Limited. You consider that Stuart McPhee Bloodstock Limited is exempt from the statutory audit requirement for the year. |
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I have not been instructed to carry out an audit or a review of the financial statements of Stuart McPhee |
Bloodstock Limited. For this reason, I have not verified the accuracy or completeness of the accounting |
records or information and explanations you have given to me and I do not, therefore, express any opinion on |
the statutory financial statements. |
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Date: ............................................. |
STUART MCPHEE BLOODSTOCK LIMITED (REGISTERED NUMBER: 02989442) |
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Abbreviated Balance Sheet |
31 December 2014 |
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31.12.14 | 31.12.13 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
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Tangible assets | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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PROVISIONS FOR LIABILITIES |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Profit and loss account | ( |
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SHAREHOLDERS' FUNDS | ( |
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STUART MCPHEE BLOODSTOCK LIMITED (REGISTERED NUMBER: 02989442) |
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Abbreviated Balance Sheet - continued |
31 December 2014 |
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The director acknowledges his responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
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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. |
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The financial statements were approved by the director on
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STUART MCPHEE BLOODSTOCK LIMITED (REGISTERED NUMBER: 02989442) |
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Notes to the Abbreviated Accounts |
for the year ended 31 December 2014 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance |
with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
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Exemption from preparing a cash flow statement |
Exemption has been taken from preparing a cash flow statement on the grounds that the company |
qualifies as a small company. |
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Turnover |
Turnover represents sales of horses from bloodstock and income from race horses in training, excluding |
value added tax. |
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Intangible assets |
Breeders rights costs are capitalised and amortised over the estimated useful life of fifteen years. |
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Tangible fixed assets |
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Racehorses | - |
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Equipment | - |
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Stocks |
Stocks are value at the lower of cost and market value, with the valuation being made at each year end. |
Stock transferred to and and from training is transferred at market value at the date of transfer. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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Foreign currencies |
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 transaction. Exchange differences are taken into account in arriving at |
the operating result. |
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Going concern |
The financial statements have been prepared on a going concern basis and no material uncertainties |
exist that impact on the company's ability to trade. |
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Service contracts |
Service contracts are accounted for under the stage of completion method and included at the contract |
value. |
STUART MCPHEE BLOODSTOCK LIMITED (REGISTERED NUMBER: 02989442) |
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Notes to the Abbreviated Accounts - continued |
for the year ended 31 December 2014 |
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2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 January 2014 |
and 31 December 2014 |
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AMORTISATION |
At 1 January 2014 |
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Amortisation for year |
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At 31 December 2014 |
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NET BOOK VALUE |
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At 31 December 2014 |
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At 31 December 2013 |
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3. | TANGIBLE FIXED ASSETS |
Total |
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COST |
At 1 January 2014 |
and 31 December 2014 |
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DEPRECIATION |
At 1 January 2014 |
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Charge for year |
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At 31 December 2014 |
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NET BOOK VALUE |
At 31 December 2014 |
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At 31 December 2013 |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.14 | 31.12.13 |
value: | £ | £ |
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Ordinary | £1 |
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STUART MCPHEE BLOODSTOCK LIMITED (REGISTERED NUMBER: 02989442) |
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Notes to the Abbreviated Accounts - continued |
for the year ended 31 December 2014 |
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5. | CONTROLLING INTEREST |
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The controlling party is
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