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REGISTERED NUMBER: SC384036 (Scotland)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

REIDFAB LIMITED

REIDFAB LIMITED (REGISTERED NUMBER: SC384036)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


REIDFAB LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: Mr D D Reid





REGISTERED OFFICE: 28 Broad Street
Peterhead
Aberdeenshire
AB42 1BY





REGISTERED NUMBER: SC384036 (Scotland)





ACCOUNTANTS: Bain Henry Reid
28 Broad Street
Peterhead
Aberdeenshire
AB42 1BY

REIDFAB LIMITED (REGISTERED NUMBER: SC384036)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 738,621 668,114

CURRENT ASSETS
Stocks 30,000 30,000
Debtors 5 419,494 477,756
Cash at bank and in hand 96,303 72,338
545,797 580,094
CREDITORS
Amounts falling due within one year 6 308,549 367,158
NET CURRENT ASSETS 237,248 212,936
TOTAL ASSETS LESS CURRENT
LIABILITIES

975,869

881,050

CREDITORS
Amounts falling due after more than one year 7 (43,405 ) (79,742 )

PROVISIONS FOR LIABILITIES (115,631 ) (95,040 )
NET ASSETS 816,833 706,268

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 816,733 706,168
SHAREHOLDERS' FUNDS 816,833 706,268

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 23 April 2025 and were signed by:





Mr D D Reid - Director


REIDFAB LIMITED (REGISTERED NUMBER: SC384036)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

Reidfab Limited 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 as modified by the revaluation of certain assets.

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.

Plant & machinery 15% reducing balance

Motor vehicles 25% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 12 ) .

REIDFAB LIMITED (REGISTERED NUMBER: SC384036)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 September 2023 130,035 1,062,812 1,192,847
Additions - 206,661 206,661
Disposals - (28,750 ) (28,750 )
At 31 August 2024 130,035 1,240,723 1,370,758
DEPRECIATION
At 1 September 2023 - 524,733 524,733
Charge for year - 107,404 107,404
At 31 August 2024 - 632,137 632,137
NET BOOK VALUE
At 31 August 2024 130,035 608,586 738,621
At 31 August 2023 130,035 538,079 668,114

Cost or valuation at 31 August 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2020 85,476 - 85,476
Cost 44,559 1,240,723 1,285,282
130,035 1,240,723 1,370,758

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 373,072 336,814
Taxation - 1,444
VAT 3,298 -
Prepayments and accrued income 43,124 139,498
419,494 477,756

REIDFAB LIMITED (REGISTERED NUMBER: SC384036)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 57,570 94,955
Trade creditors 129,614 47,487
Taxation 19,489 25,812
Social security and other taxes (3,200 ) 6,043
VAT - 28,105
Other creditors - 38,000
Pensions 1,215 710
Bounce Back Loan 17,500 27,500
Directors' current accounts 82,366 93,961
Accruals 3,995 4,585
308,549 367,158

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 43,405 79,742

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 100,975 174,697

9. DIRECTORS LOANS

The following advances and credits from a director subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£    £   
Mr D D Reid
Balance outstanding at start of year 93,961 175,987
Amounts advanced 20,000 3,000
Amounts repaid (31,595 ) (85,026 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 82,366 93,961

The loan is interest free and there are no fixed terms of repayment.

10. ULTIMATE CONTROLLING PARTY

During the current and previous years the company was under the control of D Reid, who is the sole director and owns 100% of the issued share capital.