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Company Registration No. SC651109 (Scotland)
Reid & Mackenzie Ltd Unaudited accounts for the year ended 31 January 2025
Reid & Mackenzie Ltd Unaudited accounts Contents
Page
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Reid & Mackenzie Ltd Company Information for the year ended 31 January 2025
Directors
Fiona Mackenzie Alan Mackenzie
Company Number
SC651109 (Scotland)
Registered Office
5 Southhill Steadings Southhill Farmhouse Bathgate EH47 7AE
Accountants
Armet Accounting Ltd Room 31 Haypark Business Centre Polmont FK2 0NZ
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Reid & Mackenzie Ltd Statement of financial position as at 31 January 2025
2025 
2024 
Notes
£ 
£ 
Fixed assets
Investment property
861,466 
644,002 
Current assets
Debtors
- 
391 
Cash at bank and in hand
(2,705)
6,052 
(2,705)
6,443 
Creditors: amounts falling due within one year
(5,573)
(4,455)
Net current (liabilities)/assets
(8,278)
1,988 
Total assets less current liabilities
853,188 
645,990 
Creditors: amounts falling due after more than one year
(754,502)
(612,993)
Provisions for liabilities
Deferred tax
(16,930)
(7,054)
Net assets
81,756 
25,943 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
81,754 
25,941 
Shareholders' funds
81,756 
25,943 
For the year ending 31 January 2025 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 directors acknowledge their 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 of Directors and authorised for issue on 10 April 2025 and were signed on its behalf by
Fiona Mackenzie Director Company Registration No. SC651109
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Reid & Mackenzie Ltd Notes to the Accounts for the year ended 31 January 2025
1
Statutory information
Reid & Mackenzie Ltd is a private company, limited by shares, registered in Scotland, registration number SC651109. The registered office is 5 Southhill Steadings, Southhill Farmhouse, Bathgate, EH47 7AE.
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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 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.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Investment property
2025 
£ 
Fair value at 1 February 2024
644,002 
Additions
157,696 
Net gain from fair value adjustments
59,768 
At 31 January 2025
861,466 
The valuation of the investment property has been determined with reference to online property resources.
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Reid & Mackenzie Ltd Notes to the Accounts for the year ended 31 January 2025
5
Debtors
2025 
2024 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
- 
391 
6
Creditors: amounts falling due within one year
2025 
2024 
£ 
£ 
Taxes and social security
1,589 
965 
Accruals
1,080 
1,080 
Deferred income
2,904 
2,410 
5,573 
4,455 
7
Creditors: amounts falling due after more than one year
2025 
2024 
£ 
£ 
Bank loans
521,597 
412,038 
Loans from directors
232,905 
200,955 
754,502 
612,993 
Aggregate of amounts that fall due for payment after five years
521,597 
412,038 
Interest only mortgages of £521,597 (prior year: £412,038) are secured on the property. The directors have advanced £232,105 (prior year: £200,955) to the company in order to purchase the investment property. The company has agreed to pay interest at a rate of 2% on the first £50,000 of this loan.
8
Share capital
2025 
2024 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
9
Average number of employees
During the year the average number of employees was 1 (2024: 1).
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