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BEN REID & COMPANY LIMITED

Registered Number
SC146344
(Scotland)

Unaudited Financial Statements for the Year ended
30 September 2024

BEN REID & COMPANY LIMITED
Company Information
for the year from 1 October 2023 to 30 September 2024

Directors

FRASER, Helen Cattanach
FRASER, John
FRASER, Simon John
LINDSAY, Catherine Janet

Company Secretary

LC SECRETARIES LIMITED

Registered Address

Johnstone House
52-54 Rose Street
Aberdeen
AB10 1HA

Registered Number

SC146344 (Scotland)
BEN REID & COMPANY LIMITED
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets33,155,0383,180,964
Investments414,99914,999
3,170,0373,195,963
Current assets
Stocks5141,185149,994
Debtors3,9664,067
Cash at bank and on hand22,01115,928
167,162169,989
Creditors amounts falling due within one year6(197,730)(217,574)
Net current assets (liabilities)(30,568)(47,585)
Total assets less current liabilities3,139,4693,148,378
Creditors amounts falling due after one year7(117,648)(143,556)
Provisions for liabilities8(3,887)(3,887)
Net assets3,017,9343,000,935
Capital and reserves
Called up share capital15,00015,000
Revaluation reserve151,672152,301
Other reserves75,89975,899
Profit and loss account2,775,3632,757,735
Shareholders' funds3,017,9343,000,935
The financial statements were approved and authorised for issue by the Board of Directors on 13 November 2024, and are signed on its behalf by:
FRASER, Simon John
Director
Registered Company No. SC146344
BEN REID & COMPANY LIMITED
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. 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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Interest income
Interest income is recognised using the effective interest rate method.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
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
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Vehicles20
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.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year1216
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Total

££££
Cost or valuation
At 01 October 233,140,132129,94254,6663,324,740
Additions-392-392
At 30 September 243,140,132130,33454,6663,325,132
Depreciation and impairment
At 01 October 23-99,77544,001143,776
Charge for year-18,5887,73026,318
At 30 September 24-118,36351,731170,094
Net book value
At 30 September 243,140,13211,9712,9353,155,038
At 30 September 233,140,13230,16710,6653,180,964
4.Fixed asset investments
Fixed asset investments comprise the entire issued share capital of Ben Reid & Company (Aberdeen) Ltd, a company registered in Scotland with registration number SC040678.

Investments in groups1

Total

££
Cost or valuation
At 01 October 2314,99914,999
At 30 September 2414,99914,999
Net book value
At 30 September 2414,99914,999
At 30 September 2314,99914,999

Notes

1Investments in group undertakings and participating interests
5.Stocks

2024

2023

££
Other stocks141,185149,994
Total141,185149,994
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables38,48742,315
Bank borrowings and overdrafts78,572133,875
Taxation and social security61,29821,905
Other creditors17,20917,202
Accrued liabilities and deferred income2,1642,277
Total197,730217,574
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts26,648143,556
Other creditors91,000-
Total117,648143,556
Other creditors comprise of loans made to the company from its directors.
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)3,8873,887
Total3,8873,887