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REGISTERED NUMBER: 01214382 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

REEDS, SURVEYORS (SERVICES) LIMITED

REEDS, SURVEYORS (SERVICES) LIMITED (REGISTERED NUMBER: 01214382)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


REEDS, SURVEYORS (SERVICES) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Michael John Devoy
Mark Richard John Snowball





SECRETARY: David Mark Hurst





REGISTERED OFFICE: Chandler House
7 Ferry Road Office Park
Riversway
Preston
Lancashire
PR2 2YH





REGISTERED NUMBER: 01214382 (England and Wales)





ACCOUNTANTS: Wallwork Nelson & Johnson
Chandler House
7 Ferry Road Office Park
Riversway
PRESTON
Lancashire
PR2 2YH

REEDS, SURVEYORS (SERVICES) LIMITED (REGISTERED NUMBER: 01214382)

BALANCE SHEET
31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 325,000 530,000

CURRENT ASSETS
Debtors 5 231,595 92,228

CREDITORS
Amounts falling due within one year 6 25,240 25,809
NET CURRENT ASSETS 206,355 66,419
TOTAL ASSETS LESS CURRENT
LIABILITIES

531,355

596,419

PROVISIONS FOR LIABILITIES 9,329 9,329
NET ASSETS 522,026 587,090

CAPITAL AND RESERVES
Called up share capital 7 46,350 60,000
Capital redemption reserve 8 13,650 -
Fair value reserve 8 225,571 331,649
Retained earnings 8 236,455 195,441
SHAREHOLDERS' FUNDS 522,026 587,090

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 6 August 2024 and were signed on its behalf by:



Mark Richard John Snowball - Director


REEDS, SURVEYORS (SERVICES) LIMITED (REGISTERED NUMBER: 01214382)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Reeds, Surveyors (Services) Limited is a private company, limited by shares , registered in England and Wales. 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 as modified by the revaluation of certain assets.

Turnover
Turnover is the amount derived from ordinary activities, and stated after trade discounts and net of VAT, and comprises rental income and service charge income. Rental income arising from operating leases is recognised on a straight-line basis over the lease term on ongoing leases.

Investment property
Investment property is included at fair value. Gains and losses are recognised in the income statement. Deferred taxation is provided on gains at the rate expected to apply when the property is sold.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Lessor accounting
Lease rentals are credited to the profit and loss account in the period to which they relate.

Going concern
The directors believe that the company has sufficient trade and financial resources to continue in operational existence for the foreseeable future. Thus the going concern basis of accounting in preparing the annual financial statements has been adopted.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

REEDS, SURVEYORS (SERVICES) LIMITED (REGISTERED NUMBER: 01214382)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 530,000
Disposals (205,000 )
At 31 December 2023 325,000
NET BOOK VALUE
At 31 December 2023 325,000
At 31 December 2022 530,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2019 256,649
Valuation in 2022 75,000
Valuation in 2023 (106,078 )
Cost 99,429
325,000

If investment properties had not been revalued they would have been included at the following historical cost:

31/12/23 31/12/22
£    £   
Cost 99,429 198,351

Investment properties were valued on an open market basis on 31 December 2022 by HDAK, Chartered Surveyors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 5,954 7,844
Other debtors 223,126 82,070
Prepayments and accrued income 2,515 2,314
231,595 92,228

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Tax 5,452 7,804
VAT 1,168 1,397
Accrued expenses 18,620 16,608
25,240 25,809

REEDS, SURVEYORS (SERVICES) LIMITED (REGISTERED NUMBER: 01214382)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/12/23 31/12/22
value: £    £   
46,350 Ordinary £1 46,350 60,000
(31/12/22 -
60,000 )

8. RESERVES
Capital Fair
Retained redemption value
earnings reserve reserve Totals
£    £    £    £   

At 1 January 2023 195,441 - 331,649 527,090
Profit for the year 23,661 23,661
Purchase of own shares (88,725 ) 13,650 - (75,075 )
Disposal of revalued asset 106,078 - (106,078 ) -
At 31 December 2023 236,455 13,650 225,571 475,676

9. RELATED PARTY DISCLOSURES

During the year dividends totalling £Nil (2022: £2,222) were paid to directors in office at the year end.

10. ULTIMATE CONTROLLING PARTY

None of the members have sufficient shareholding to exercise individual control of the company.