1 July 2022 false Taxfiler 2023.10 SC422694business:PrivateLimitedCompanyLtd2022-07-012023-06-30 SC4226942022-06-30 SC4226942022-07-012023-06-30 SC422694business:AuditExemptWithAccountantsReport2022-07-012023-06-30 SC422694business:FilletedAccounts2022-07-012023-06-30 SC4226942023-06-30 SC422694business:Director12022-07-012023-06-30 SC422694business:RegisteredOffice2022-07-012023-06-30 SC4226942022-06-30 SC422694core:WithinOneYear2023-06-30 SC422694core:WithinOneYear2022-06-30 SC422694core:ShareCapitalcore:PreviouslyStatedAmount2023-06-30 SC422694core:ShareCapitalcore:PreviouslyStatedAmount2022-06-30 SC422694core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-06-30 SC422694core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-06-30 SC422694core:PreviouslyStatedAmount2023-06-30 SC422694core:PreviouslyStatedAmount2022-06-30 SC422694business:SmallEntities2022-07-012023-06-30 SC422694countries:Scotland2022-07-012023-06-30 SC422694core:PlantMachinery2022-06-30 SC422694core:MotorVehicles2022-06-30 SC422694core:PlantMachinery2022-07-012023-06-30 SC422694core:MotorVehicles2022-07-012023-06-30 SC422694core:PlantMachinery2023-06-30 SC422694core:MotorVehicles2023-06-30 SC422694business:OrdinaryShareClass12022-07-012023-06-30 SC422694business:OrdinaryShareClass12021-07-012022-06-30 SC4226942021-07-012022-06-30 iso4217:GBP xbrli:shares xbrli:pure
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
Page
- 2 -
David Reid & Son Ltd Company Information for the year ended 30 June 2023
Director
S Reid
Company Number
SC422694 (Scotland)
Registered Office
High Street Burrelton Perthshire PH13 9NX
Accountants
Helen Hally CA The Retreat South Street Burrelton Perthshire PH13 9PE
- 3 -
David Reid & Son Ltd Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
8,839 
7,291 
Current assets
Inventories
10,278 
7,839 
Debtors
13,941 
11,666 
Cash at bank and in hand
13,968 
22,092 
38,187 
41,597 
Creditors: amounts falling due within one year
(39,451)
(40,360)
Net current (liabilities)/assets
(1,264)
1,237 
Net assets
7,575 
8,528 
Capital and reserves
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
- 4 -
David Reid & Son Ltd Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
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.
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.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
4
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 
Depreciation
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 
Net book value
At 30 June 2023
4,076 
4,763 
8,839 
At 30 June 2022
3,128 
4,163 
7,291 
- 5 -
David Reid & Son Ltd Notes to the Accounts for the year ended 30 June 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
1,500 
1,570 
Trade debtors
11,410 
9,161 
Accrued income and prepayments
1,031 
935 
13,941 
11,666 
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 
Accruals
4,886 
5,153 
39,451 
40,360 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
Average number of employees
During the year the average number of employees was 6 (2022: 5).
- 6 -