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Company Registration No. SC689529 (Scotland)
Reid Investments Ltd Unaudited accounts for the year ended 28 February 2023
Reid Investments Ltd Unaudited accounts Contents
Page
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Reid Investments Ltd Company Information for the year ended 28 February 2023
Director
Alexander Reid
Company Number
SC689529 (Scotland)
Registered Office
5 5 South Charlotte Street Edinburgh EH2 4AN
Accountants
FBD Consultancy, Accounts & Tax Ltd Sgarbach House 10 Binniehill Road Cumbernauld North Lanarkshire G68 9AJ
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Reid Investments Ltd for the year ended 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Reid Investments Ltd for the year ended 28 February 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020.
Our work has been undertaken in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020.
FBD Consultancy, Accounts & Tax Ltd Chartered Accountants Sgarbach House 10 Binniehill Road Cumbernauld North Lanarkshire G68 9AJ 24 October 2023
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Reid Investments Ltd Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
157 
- 
Investment property
300,000 
245,000 
300,157 
245,000 
Current assets
Cash at bank and in hand
22,513 
4,934 
Creditors: amounts falling due within one year
(91,279)
(214,806)
Net current liabilities
(68,766)
(209,872)
Total assets less current liabilities
231,391 
35,128 
Creditors: amounts falling due after more than one year
(180,000)
- 
Provisions for liabilities
Deferred tax
(11,009)
(7,130)
Net assets
40,382 
27,998 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
40,381 
27,997 
Shareholders' funds
40,382 
27,998 
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 October 2023 and were signed on its behalf by
Alexander Reid Director Company Registration No. SC689529
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Reid Investments Ltd Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
Reid Investments Ltd is a private company, limited by shares, registered in Scotland, registration number SC689529. The registered office is 5 5 South Charlotte Street, Edinburgh, EH2 4AN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
4
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 March 2022
- 
Additions
209 
At 28 February 2023
209 
Depreciation
Charge for the year
52 
At 28 February 2023
52 
Net book value
At 28 February 2023
157 
5
Investment property
2023 
£ 
Fair value at 1 March 2022
245,000 
Additions
34,739 
Net gain from fair value adjustments
20,261 
At 28 February 2023
300,000 
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Reid Investments Ltd Notes to the Accounts for the year ended 28 February 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
796 
- 
Other creditors
- 
82,000 
Loans from directors
89,089 
130,417 
Accruals
1,394 
2,389 
91,279 
214,806 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
180,000 
- 
8
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
30 
- 
Revaluation of investment property
10,979 
7,130 
11,009 
7,130 
2023 
2022 
£ 
£ 
Provision at start of year
7,130 
- 
Charged to the profit and loss account
3,879 
7,130 
Provision at end of year
11,009 
7,130 
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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