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REGISTERED NUMBER: SC338373 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

REFTRADE UK LTD.

REFTRADE UK LTD. (REGISTERED NUMBER: SC338373)

Contents of the Financial Statements
for the Year Ended 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


REFTRADE UK LTD.

Company Information
for the Year Ended 31 December 2024







DIRECTORS: G S Spence
M W Baxter





REGISTERED OFFICE: Birchmoss Depot
Echt
Westhill
Aberdeenshire
AB32 6XL





REGISTERED NUMBER: SC338373 (Scotland)






REFTRADE UK LTD. (REGISTERED NUMBER: SC338373)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 368,373 431,816

CURRENT ASSETS
Stocks 89,135 29,040
Debtors 5 315,067 265,032
Cash at bank and in hand 321,522 230,590
725,724 524,662
CREDITORS
Amounts falling due within one year 6 245,813 220,600
NET CURRENT ASSETS 479,911 304,062
TOTAL ASSETS LESS CURRENT
LIABILITIES

848,284

735,878

CREDITORS
Amounts falling due after more than one
year

7

-

(21,667

)

PROVISIONS FOR LIABILITIES (92,015 ) (107,843 )
NET ASSETS 756,269 606,368

CAPITAL AND RESERVES
Called up share capital 7,500 7,500
Retained earnings 748,769 598,868
756,269 606,368

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

REFTRADE UK LTD. (REGISTERED NUMBER: SC338373)

Balance Sheet - continued
31 December 2024


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 1 April 2025 and were signed on its behalf by:





G S Spence - Director


REFTRADE UK LTD. (REGISTERED NUMBER: SC338373)

Notes to the Financial Statements
for the Year Ended 31 December 2024


1. STATUTORY INFORMATION

Reftrade Uk Ltd. 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.
Improvements to property - 25% on cost
Plant and machinery - 25% on cost and 12.5% on cost
Computer equipment - 33% on cost

Stocks and work in progress
Stocks are stated at the lower of cost and net realisable value. Work in progress is valued at production cost, which includes an appropriate proportion of attributable overheads.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

REFTRADE UK LTD. (REGISTERED NUMBER: SC338373)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 January 2024 2,285 809,886 12,872 825,043
Additions - 25,550 300 25,850
Disposals - (6,477 ) - (6,477 )
At 31 December 2024 2,285 828,959 13,172 844,416
DEPRECIATION
At 1 January 2024 1,841 379,824 11,562 393,227
Charge for year 133 86,385 558 87,076
Eliminated on disposal - (4,260 ) - (4,260 )
At 31 December 2024 1,974 461,949 12,120 476,043
NET BOOK VALUE
At 31 December 2024 311 367,010 1,052 368,373
At 31 December 2023 444 430,062 1,310 431,816

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 311,147 259,085
Other debtors 3,920 5,947
315,067 265,032

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 10,000
Trade creditors 44,035 150,767
Taxation and social security 140,182 53,309
Other creditors 61,596 6,524
245,813 220,600

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 21,667

REFTRADE UK LTD. (REGISTERED NUMBER: SC338373)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


8. ULTIMATE CONTROLLING PARTY

The controlling party is G S Spence.