Caseware UK (AP4) 2024.0.164 2024.0.164 2024-11-302024-11-302025-05-012023-12-01falseContracts11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC762017 2023-12-01 2024-11-30 SC762017 2023-03-13 2023-11-30 SC762017 2024-11-30 SC762017 2023-11-30 SC762017 c:Director1 2023-12-01 2024-11-30 SC762017 c:RegisteredOffice 2023-12-01 2024-11-30 SC762017 d:PlantMachinery 2023-12-01 2024-11-30 SC762017 d:PlantMachinery 2024-11-30 SC762017 d:PlantMachinery 2023-11-30 SC762017 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 SC762017 d:MotorVehicles 2023-12-01 2024-11-30 SC762017 d:MotorVehicles 2024-11-30 SC762017 d:MotorVehicles 2023-11-30 SC762017 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 SC762017 d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 SC762017 d:CurrentFinancialInstruments 2024-11-30 SC762017 d:CurrentFinancialInstruments 2023-11-30 SC762017 d:CurrentFinancialInstruments d:WithinOneYear 2024-11-30 SC762017 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 SC762017 d:ShareCapital 2024-11-30 SC762017 d:ShareCapital 2023-11-30 SC762017 d:RetainedEarningsAccumulatedLosses 2024-11-30 SC762017 d:RetainedEarningsAccumulatedLosses 2023-11-30 SC762017 c:FRS102 2023-12-01 2024-11-30 SC762017 c:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 SC762017 c:FullAccounts 2023-12-01 2024-11-30 SC762017 c:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 SC762017 e:PoundSterling 2023-12-01 2024-11-30 iso4217:GBP xbrli:pure
Registered number: SC762017










REID CONTRACTS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

 
REID CONTRACTS LIMITED
 

COMPANY INFORMATION


DIRECTOR
Darren Reid 




REGISTERED NUMBER
SC762017



REGISTERED OFFICE
Unit 23 North Wellington Street

Dundee

DD3 7AT




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
REID CONTRACTS LIMITED
REGISTERED NUMBER: SC762017

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2024

2024
2023
£
£

FIXED ASSETS
  

Tangible assets
 4 
11,335
5,435

  
11,335
5,435

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
32,878
27,809

Bank and cash balances
  
4,929
2,558

  
37,807
30,367

Creditors: amounts falling due within one year
 6 
(49,433)
(20,049)

NET CURRENT (LIABILITIES)/ASSETS
  
 
 
(11,626)
 
 
10,318

TOTAL ASSETS LESS CURRENT LIABILITIES
  
(291)
15,753

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(1,232)
-

  
 
 
(1,232)
 
 
-

NET (LIABILITIES)/ASSETS
  
(1,523)
15,753


CAPITAL AND RESERVES
  

Called up share capital 
  
100
100

Profit and loss account
  
(1,623)
15,653

  
(1,523)
15,753


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 May 2025.




Darren Reid
Page 1

 
REID CONTRACTS LIMITED
REGISTERED NUMBER: SC762017

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2024

Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
REID CONTRACTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


GENERAL INFORMATION

Reid Contracts Ltd is a private company, limited by shares, incorporated in Scotland with registration number SC762017. The registered office is Unit 23 North Wellington Street, Dundee, DD3 7AT. The Company's functional and presentational currency is GBP.

2.ACCOUNTING POLICIES

 
2.1

GOING CONCERN

The accounts have been prepared using the going concern basis. The company has net liabilites and is dependent on the continuing support of the director. The director has confirmed that this support will continue for the forseeable future.

 
2.2

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
REID CONTRACTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.6

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Motor vehicles
-
13%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
REID CONTRACTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.7

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.8

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


EMPLOYEES

The average monthly number of employees, including the director, during the year was 1 (2023 - 1).


4.


TANGIBLE FIXED ASSETS





Plant and machinery
Motor vehicles
Total

£
£
£



COST OR VALUATION


At 1 December 2023
6,629
-
6,629


Additions
3,265
5,500
8,765



At 30 November 2024

9,894
5,500
15,394



DEPRECIATION


At 1 December 2023
1,194
-
1,194


Charge for the year on owned assets
2,177
688
2,865



At 30 November 2024

3,371
688
4,059



NET BOOK VALUE



At 30 November 2024
6,523
4,812
11,335



At 30 November 2023
5,435
-
5,435

Page 5

 
REID CONTRACTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

5.


DEBTORS

2024
2023
£
£


Trade debtors
30,404
27,809

Other debtors
2,474
-

32,878
27,809



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
5,712
507

Other taxation and social security
5,026
2,660

Other creditors
37,195
15,382

Accruals and deferred income
1,500
1,500

49,433
20,049



Page 6