The Deadstock Register
Chapter Thirty-Three
Syllabus topic 5, "Types of Farm Records- Specimen. (Muster roll, Overseer’s diary, Cultivation register, Cashbook, Stock book, Issue register, Receipt register, Labour requisition book, Attendance register, Deadstock, Ration book, Peon book, General register)."
Pages 74 to 75 of 110
In one line
The deadstock register is the record of the farm's fixed assets: every implement, machine, building, well, pipeline, vehicle and piece of equipment, with its cost, its location, its condition and the depreciation charged on it.
Why it is called deadstock
Because a farm's assets divide into two, and the older word for the division is still the clearest.
Livestock is alive: cattle, buffaloes, bullocks, sheep, poultry. It breeds, it grows, it dies, and under Ind AS 41 it is measured at fair value less costs to sell.
Deadstock is everything that is not alive: the plough, the tractor, the pump, the sprayer, the cattle shed, the well, the fencing, the weighing scale, the milk cans, the furniture in the office.
Deadstock is the farm's property, plant and equipment, and this register is where depreciation comes from.
Why it is kept
- To list every asset the farm owns, with its identification.
- To record cost, date of purchase and supplier.
- To record where the asset is and who is responsible for it.
- To compute depreciation, asset by asset.
- To record repairs, and so to know which machine is costing too much to keep.
- To support the physical verification of assets.
- To value the assets for the balance sheet, for insurance and for a loan.
- To record disposals, and the profit or loss on them.
The specimen
Shivneri Farm, Baramati. Deadstock register.
| Sr | Asset | Identification | Date acquired | Cost Rs. | Life yrs | Rate | Dep. for the year Rs. | Accumulated dep. Rs. | W.D.V. Rs. | Location |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Tractor, 35 hp | Regn. MH-42-AB-1174 | 01-10-2022 | 6,80,000 | 10 | 10% SLM | 68,000 | 3,06,000 | 3,74,000 | Farm shed |
| 2 | Rotavator | Sr. 8841 | 01-10-2022 | 1,15,000 | 10 | 10% SLM | 11,500 | 51,750 | 63,250 | Farm shed |
| 3 | Electric pump, 7.5 hp | Well no. 1 | 02-04-2023 | 78,000 | 8 | 12.5% SLM | 9,750 | 39,000 | 39,000 | Well 1 |
| 4 | Sprayer, power | Sr. 2207 | 01-10-2024 | 34,000 | 5 | 20% SLM | 6,800 | 17,000 | 17,000 | Store |
| 5 | Cattle shed | 18 by 40 ft | 01-04-2022 | 4,20,000 | 30 | 3.33% SLM | 14,000 | 70,000 | 3,50,000 | North block |
| 6 | Bullock cart | Two, wooden | 01-10-2023 | 62,000 | 8 | 12.5% SLM | 7,750 | 27,125 | 34,875 | Farm shed |
| Total | 13,89,000 | 1,17,800 | 5,10,875 | 8,78,125 |
Physically verified on 31-03-2027 by the Proprietor. All assets present and in working order except the sprayer, under repair. Depreciation is charged for half a year in the year of acquisition where the asset was acquired in the second half of the year.
The check on the page: cost less accumulated depreciation equals written down value, line by line and in total. Rs. 13,89,000 less Rs. 5,10,875 is Rs. 8,78,125.
What goes in the register and what does not
In. Anything with a life of more than one year that is not alive and not consumed: implements, machines, vehicles, buildings, wells, pipelines, fencing, furniture, weighing equipment, milk cans, storage bins.
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