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Reeds Property Limited

Registered Number
13059517
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

Reeds Property Limited
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

Reed, Finlay John
Reed, Martin

Registered Address

71 Bawnmore Road
Rugby
CV22 6JN

Registered Number

13059517 (England and Wales)
Reeds Property Limited
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investments5200200
Investment property4697,728697,728
697,928697,928
Current assets
Debtors249262
Cash at bank and on hand4,84310,346
5,09210,608
Creditors amounts falling due within one year6(589,177)(615,583)
Net current assets (liabilities)(584,085)(604,975)
Total assets less current liabilities113,84392,953
Provisions for liabilities7(12,305)(12,305)
Net assets101,53880,648
Capital and reserves
Called up share capital200200
Profit and loss account101,33880,448
Shareholders' funds101,53880,648
The financial statements were approved and authorised for issue by the Board of Directors on 18 March 2025, and are signed on its behalf by:
Reed, Martin
Director
Registered Company No. 13059517
Reeds Property Limited
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Investments
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.
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued by Mr M Reed using an open market valuation basis by reference to market evidence of transaction prices for similar properties.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets
4.Investment property

£
Fair value at 01 January 24697,728
At 31 December 24697,728
5.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 January 24200200
At 31 December 24200200
Net book value
At 31 December 24200200
At 31 December 23200200

Notes

1Investments in group undertakings and participating interests
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables471471
Amounts owed to related parties581,456608,025
Taxation and social security4,7504,663
Accrued liabilities and deferred income2,5002,424
Total589,177615,583
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)12,30512,305
Total12,30512,305
8.Related party transactions
Dividends of £83,000 were received from Reeds Plumbing and Heating Contractors Limited (2023, £134,000).
9.Parent-subsidiary relationships
As at 31st December 2024, £581,456 was owed to Reeds Plumbing and Heating Contractors Limited.