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Company Registration No. 03532355 (England and Wales)
REED CONSTRUCTION & DEVELOPMENTS LIMITED Unaudited accounts for the year ended 30 April 2024
REED CONSTRUCTION & DEVELOPMENTS LIMITED Unaudited accounts Contents
Page
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REED CONSTRUCTION & DEVELOPMENTS LIMITED Company Information for the year ended 30 April 2024
Director
C M Reed
Secretary
H D Martin
Company Number
03532355 (England and Wales)
Registered Office
106 HIGH STREET HIGH STREET CREDITON DEVON EX17 3LF ENGLAND
Accountants
H W Martin & Co LLP Lloyds Bank Chambers High Street Crediton Devon EX17 3AH
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REED CONSTRUCTION & DEVELOPMENTS LIMITED Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
86,863 
87,883 
Investment property
4,167,034 
4,143,984 
Investments
4,053,845 
3,758,103 
8,307,742 
7,989,970 
Current assets
Inventories
1,440,931 
1,440,931 
Debtors
377,874 
54,164 
Cash at bank and in hand
69,659 
280,200 
1,888,464 
1,775,295 
Creditors: amounts falling due within one year
(421,376)
(364,464)
Net current assets
1,467,088 
1,410,831 
Total assets less current liabilities
9,774,830 
9,400,801 
Creditors: amounts falling due after more than one year
(6,958,897)
(6,765,107)
Net assets
2,815,933 
2,635,694 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
2,815,833 
2,635,594 
Shareholders' funds
2,815,933 
2,635,694 
For the year ending 30 April 2024 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 January 2025 and were signed on its behalf by
C M Reed Director Company Registration No. 03532355
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REED CONSTRUCTION & DEVELOPMENTS LIMITED Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
REED CONSTRUCTION & DEVELOPMENTS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 03532355. The registered office is 106 HIGH STREET, HIGH STREET, CREDITON, DEVON, EX17 3LF, ENGLAND.
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 as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the amounts receivable for the properties sold and services rendered during the year, including incidental rental income received on properties held in stock, net of value added tax. Turnover is recognised when the right to consideration has arisen through performance under each contract. Consideration accrues as the contract progresses by reference to the value of work performed. Turnover is not recognised where the right to receive payment is contingent on events outside the control of the company.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% straight line
Stock
Stock and work in progress are valued at the lower of cost, plus a proportion of overheads where applicable, and net realisable value. Net realisable value is based on anticipated selling price less costs to completion and selling costs.
Investment property
Certain of the company's properties are held for long-term investment. Investment properties are carried in the balance sheet at fair value. The surplus or deficit on revaluation is transferred to the revaluation reserve and reports through the statement of total recognised gains and losses. If a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, then it will be charged to the profit and loss account for the year.
Fixed asset Investments
Fixed asset investments are stated at historical cost less provision for any diminution in value.
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REED CONSTRUCTION & DEVELOPMENTS LIMITED Notes to the Accounts for the year ended 30 April 2024
Leasing and hire purchase commitments
Rentals paid under operating leases are charged to income on a straight-line basis over the lease term.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 May 2023
41,500 
At 30 April 2024
41,500 
Amortisation
At 1 May 2023
41,500 
At 30 April 2024
41,500 
Net book value
At 30 April 2024
- 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 May 2023
89,388 
16,744 
106,132 
At 30 April 2024
89,388 
16,744 
106,132 
Depreciation
At 1 May 2023
6,604 
11,645 
18,249 
Charge for the year
- 
1,020 
1,020 
At 30 April 2024
6,604 
12,665 
19,269 
Net book value
At 30 April 2024
82,784 
4,079 
86,863 
At 30 April 2023
82,784 
5,099 
87,883 
6
Investment property
2024 
£ 
Fair value at 1 May 2023
4,143,984 
Additions
37,300 
Disposals
(14,250)
At 30 April 2024
4,167,034 
7
Investments
Other investments 
£ 
Valuation at 1 May 2023
3,758,103 
Additions
543,554 
Disposals
(247,812)
Valuation at 30 April 2024
4,053,845 
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REED CONSTRUCTION & DEVELOPMENTS LIMITED Notes to the Accounts for the year ended 30 April 2024
8
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
377,874 
54,164 
9
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
135,589 
131,374 
Trade creditors
5,243 
16,061 
Taxes and social security
142,429 
35,563 
Other creditors
138,115 
181,466 
421,376 
364,464 
10
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
6,958,897 
6,765,107 
Secured other loans totalling £1,409,794 (2022 £1,409,794) are secured by legal charges on the properties owned by Kingdom Properties, a partnership owned by the Company and its director, Mr C Reed.
11
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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