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REGISTERED NUMBER: SC689192 (Scotland)















S Reid Design Limited

Financial Statements For The Year Ended 28 February 2024






S Reid Design Limited (Registered number: SC689192)






Contents of the Financial Statements
For The Year Ended 28 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

S Reid Design Limited

Company Information
For The Year Ended 28 February 2024







DIRECTOR: S T Reid





SECRETARY: B J Reid





REGISTERED OFFICE: Park House Centre
South Street
Elgin
Moray
IV30 1JB





REGISTERED NUMBER: SC689192 (Scotland)





ACCOUNTANTS: The Long Partnership
Park House Centre
South Street
Elgin
IV30 1JB

S Reid Design Limited (Registered number: SC689192)

Balance Sheet
28 February 2024

28.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,463 5,916

CURRENT ASSETS
Debtors 5 3,504 6,498
Cash at bank 71,336 80,371
74,840 86,869
CREDITORS
Amounts falling due within one year 6 27,879 25,199
NET CURRENT ASSETS 46,961 61,670
TOTAL ASSETS LESS CURRENT
LIABILITIES

54,424

67,586

PROVISIONS FOR LIABILITIES 7 572 206
NET ASSETS 53,852 67,380

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 53,752 67,280
SHAREHOLDERS' FUNDS 53,852 67,380

S Reid Design Limited (Registered number: SC689192)

Balance Sheet - continued
28 February 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 12 April 2024 and were signed by:





S T Reid - Director


S Reid Design Limited (Registered number: SC689192)

Notes to the Financial Statements
For The Year Ended 28 February 2024

1. STATUTORY INFORMATION

S Reid Design Limited 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 25% on reducing balance

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 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 March 2023 6,091
Additions 2,015
At 28 February 2024 8,106
DEPRECIATION
At 1 March 2023 175
Charge for year 468
At 28 February 2024 643
NET BOOK VALUE
At 28 February 2024 7,463
At 28 February 2023 5,916

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Trade debtors 3,504 6,498

S Reid Design Limited (Registered number: SC689192)

Notes to the Financial Statements - continued
For The Year Ended 28 February 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Taxation and social security 25,578 23,156
Other creditors 2,301 2,043
27,879 25,199

7. PROVISIONS FOR LIABILITIES
28.2.24 28.2.23
£    £   
Deferred tax 572 206

Deferred
tax
£   
Balance at 1 March 2023 206
Provided during year 366
Balance at 28 February 2024 572

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.24 28.2.23
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 March 2023 67,280
Profit for the year 66,672
Dividends (80,200 )
At 28 February 2024 53,752

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £60,150 (2023 - £55,500) were paid to the director .

S T Reid
is a director in the company


Included in other creditors is an interest free directors loan. There are no repayment terms.

28.2.24 28.2.23
£    £   
Amount due to related party at the balance sheet date 7 41

S Reid Design Limited (Registered number: SC689192)

Notes to the Financial Statements - continued
For The Year Ended 28 February 2024

11. ULTIMATE CONTROLLING PARTY

The controlling party is S T Reid.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
S Reid Design Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of S Reid Design Limited for the year ended 28 February 2024 which comprise the Income Statement, Balance Sheet and the related notes 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 in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of S Reid Design Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of S Reid Design Limited and state those matters that we have agreed to state to the director of S Reid Design Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than S Reid Design Limited and its director for our work or for this report.

It is your duty to ensure that S Reid Design Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of S Reid Design Limited. You consider that S Reid Design Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of S Reid Design Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Long Partnership
Park House Centre
South Street
Elgin
IV30 1JB


12 April 2024