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BEN REID & COMPANY LIMITED

Registered Number
SC146344
(Scotland)

Unaudited Financial Statements for the Year ended
30 September 2023

BEN REID & COMPANY LIMITED
Company Information
for the year from 1 October 2022 to 30 September 2023

Directors

FRASER, Helen Cattanach
FRASER, John
FRASER, Simon John
LINDSAY, Catherine Janet

Company Secretary

LC SECRETARIES LIMITED

Registered Address

Johnstone House
52-54 Rose Street
Aberdeen
AB10 1HA

Registered Number

SC146344 (Scotland)
BEN REID & COMPANY LIMITED
Balance Sheet as at
30 September 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets53,180,9643,201,215
Investments614,99914,999
3,195,9633,216,214
Current assets
Stocks7149,994157,574
Debtors84,06713,617
Cash at bank and on hand15,92860,950
169,989232,141
Creditors amounts falling due within one year9(218,222)(230,510)
Net current assets (liabilities)(48,233)1,631
Total assets less current liabilities3,147,7303,217,845
Creditors amounts falling due after one year10(143,556)(194,567)
Provisions for liabilities11(3,887)(10,909)
Net assets3,000,2873,012,369
Capital and reserves
Called up share capital15,00015,000
Revaluation reserve152,301152,930
Other reserves75,89975,899
Profit and loss account2,757,0872,768,540
Shareholders' funds3,000,2873,012,369
The financial statements were approved and authorised for issue by the Board of Directors on 12 February 2024, and are signed on its behalf by:
FRASER, Simon John
Director
LINDSAY, Catherine Janet
Director

Registered Company No. SC146344
BEN REID & COMPANY LIMITED
Notes to the Financial Statements
for the year ended 30 September 2023

1.Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year1616
5.Property, plant and equipment

Land & buildings

Plant & machinery

Vehicles

Total

££££
Cost or valuation
At 01 October 223,140,132120,11054,6663,314,908
Additions-9,832-9,832
At 30 September 233,140,132129,94254,6663,324,740
Depreciation and impairment
At 01 October 22-77,42236,271113,693
Charge for year-22,3537,73030,083
At 30 September 23-99,77544,001143,776
Net book value
At 30 September 233,140,13230,16710,6653,180,964
At 30 September 223,140,13242,68818,3953,201,215
6.Fixed asset investments
Fixed asset investments comprise the entire issued share capital of Ben Reid & Company (Aberdeen) Ltd, a company registered in Scotland with registration number SC040678.

Investments in groups1

Total

££
Cost or valuation
At 01 October 2214,99914,999
At 30 September 2314,99914,999
Net book value
At 30 September 2314,99914,999
At 30 September 2214,99914,999

Notes

1Investments in group undertakings and participating interests
7.Stocks

2023

2022

££
Other stocks149,994157,574
Total149,994157,574
8.Debtors

2023

2022

££
Trade debtors / trade receivables146-
Other debtors2,75110,960
Prepayments and accrued income1,1702,657
Total4,06713,617
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables41,85016,367
Bank borrowings and overdrafts132,490167,471
Taxation and social security23,01725,094
Other creditors18,58719,412
Accrued liabilities and deferred income2,2782,166
Total218,222230,510
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
10.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts143,556194,567
Total143,556194,567
11.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)3,88710,909
Total3,88710,909