Company Registration No. SC422694 (Scotland)
David Reid & Son Ltd
Unaudited accounts
for the year ended 30 June 2023
David Reid & Son Ltd
Unaudited accounts
Contents
David Reid & Son Ltd
Company Information
for the year ended 30 June 2023
Company Number
SC422694 (Scotland)
Registered Office
High Street
Burrelton
Perthshire
PH13 9NX
Accountants
Helen Hally CA
The Retreat
South Street
Burrelton
Perthshire
PH13 9PE
David Reid & Son Ltd
Statement of financial position
as at 30 June 2023
Tangible assets
8,839
7,291
Cash at bank and in hand
13,968
22,092
Creditors: amounts falling due within one year
(39,451)
(40,360)
Net current (liabilities)/assets
(1,264)
1,237
Called up share capital
100
100
Profit and loss account
7,475
8,428
Shareholders' funds
7,575
8,528
For the year ending 30 June 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 28 August 2023 and were signed on its behalf by
S Reid
Director
Company Registration No. SC422694
David Reid & Son Ltd
Notes to the Accounts
for the year ended 30 June 2023
David Reid & Son Ltd is a private company, limited by shares, registered in Scotland, registration number SC422694. The registered office is High Street, Burrelton, Perthshire, PH13 9NX.
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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.
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.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover represents amounts invoiced during the year, net of VAT.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Equipment - 15% reducing balance
Vehicle - 25% reducing balance
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 July 2022
12,597
7,401
19,998
Additions
1,720
6,351
8,071
Disposals
-
(7,401)
(7,401)
At 30 June 2023
14,317
6,351
20,668
At 1 July 2022
9,469
3,238
12,707
Charge for the year
772
1,588
2,360
On disposals
-
(3,238)
(3,238)
At 30 June 2023
10,241
1,588
11,829
At 30 June 2023
4,076
4,763
8,839
At 30 June 2022
3,128
4,163
7,291
David Reid & Son Ltd
Notes to the Accounts
for the year ended 30 June 2023
Amounts falling due within one year
Trade debtors
11,410
9,161
Accrued income and prepayments
1,031
935
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
12,644
10,112
Taxes and social security
1,668
2,680
Loans from directors
20,253
22,415
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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Average number of employees
During the year the average number of employees was 6 (2022: 5).