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REGISTERED NUMBER: SC194713 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Reid & Fraser Ltd.

Reid & Fraser Ltd. (Registered number: SC194713)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Reid & Fraser Ltd.

Company Information
for the Year Ended 31 May 2023







DIRECTORS: S Walker
Ms L Cameron
S MacGregor





SECRETARY: Mrs H Walker





REGISTERED OFFICE: 15 Princes Street
Thurso
Caithness
KW14 7BQ





REGISTERED NUMBER: SC194713 (Scotland)






Reid & Fraser Ltd. (Registered number: SC194713)

Balance Sheet
31 May 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 120,000 120,000
Tangible assets 5 6,276 4,601
126,276 124,601

CURRENT ASSETS
Stocks 153,145 150,820
Debtors 6 113,960 133,869
Cash at bank 90,347 41,352
357,452 326,041
CREDITORS
Amounts falling due within one year 7 (119,573 ) (116,897 )
NET CURRENT ASSETS 237,879 209,144
TOTAL ASSETS LESS CURRENT
LIABILITIES

364,155

333,745

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 364,055 333,645
SHAREHOLDERS' FUNDS 364,155 333,745

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)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.

Reid & Fraser Ltd. (Registered number: SC194713)

Balance Sheet - continued
31 May 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2024 and were signed on its behalf by:





S Walker - Director


Reid & Fraser Ltd. (Registered number: SC194713)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Reid & Fraser Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% straight line

STOCKS
Work in progress is valued at net realisable value and includes all accrued income on contracts where there is a continuing right to receive income.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 120,000
NET BOOK VALUE
At 31 May 2023 120,000
At 31 May 2022 120,000

Reid & Fraser Ltd. (Registered number: SC194713)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 60,920
Additions 2,945
At 31 May 2023 63,865
DEPRECIATION
At 1 June 2022 56,319
Charge for year 1,270
At 31 May 2023 57,589
NET BOOK VALUE
At 31 May 2023 6,276
At 31 May 2022 4,601

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 113,960 133,869

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 4,075 3,300
Other creditors 115,498 113,597
119,573 116,897