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REGISTERED NUMBER: SC278348 (Scotland)
















Report of the Directors and

Unaudited Consolidated Financial Statements for the Year Ended 31 October 2024

for

3DReid Limited

3DReid Limited (Registered number: SC278348)






Contents of the Consolidated Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Report of the Directors 2

Consolidated Statement of Comprehensive Income 3

Consolidated Balance Sheet 4

Company Balance Sheet 6

Consolidated Statement of Changes in Equity 8

Company Statement of Changes in Equity 9

Notes to the Consolidated Financial Statements 10


3DReid Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: G Hickson-Smith
N Speakes
M Bedey





REGISTERED OFFICE: 45 West Nile Street
Glasgow
G1 2PT





REGISTERED NUMBER: SC278348 (Scotland)





ACCOUNTANTS: McLay McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF

3DReid Limited (Registered number: SC278348)

Report of the Directors
for the Year Ended 31 October 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 October 2024.

REVIEW OF BUSINESS
The business generated fee income of £8,952,523 (2023: £8,918,464), which resulted in an operating profit for the year of £214,366 (2023: £51,087).

DIRECTORS
The directors shown below have held office during the whole of the period from 1 November 2023 to the date of this report.

G Hickson-Smith
N Speakes
M Bedey

Other changes in directors holding office are as follows:

D Llewellyn ceased to be a director after 31 October 2024 but prior to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





N Speakes - Director


28 July 2025

3DReid Limited (Registered number: SC278348)

Consolidated Statement of Comprehensive Income
for the Year Ended 31 October 2024

31.10.24 31.10.23
Notes £    £   

TURNOVER 8,952,523 8,918,464

Administrative expenses (8,738,156 ) (8,867,377 )
OPERATING PROFIT 4 214,367 51,087

Interest receivable and similar income 22,308 27,441
236,675 78,528

Interest payable and similar expenses (72,866 ) (86,647 )
PROFIT/(LOSS) BEFORE TAXATION 163,809 (8,119 )

Tax on profit/(loss) 5 (49,162 ) 5,735
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

114,647

(2,384

)

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

114,647

(2,384

)

Profit/(loss) attributable to:
Owners of the parent 114,647 (2,384 )

Total comprehensive income attributable to:
Owners of the parent 114,647 (2,384 )

3DReid Limited (Registered number: SC278348)

Consolidated Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £   
FIXED ASSETS
Intangible assets 7 - -
Tangible assets 8 66,583 106,205
Investments 9 - -
66,583 106,205

CURRENT ASSETS
Stocks 427,371 448,931
Debtors 10 4,202,453 3,619,576
Cash at bank and in hand 348,063 819,415
4,977,887 4,887,922
CREDITORS
Amounts falling due within one year 11 (1,916,436 ) (1,827,855 )
NET CURRENT ASSETS 3,061,451 3,060,067
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,128,034

3,166,272

CREDITORS
Amounts falling due after more than one
year

12

(116,287

)

(264,872

)

PROVISIONS FOR LIABILITIES (4,700 ) (9,000 )
NET ASSETS 3,007,047 2,892,400

CAPITAL AND RESERVES
Called up share capital 945,000 945,000
Share premium 487,200 487,200
Retained earnings 1,574,847 1,460,200
SHAREHOLDERS' FUNDS 3,007,047 2,892,400

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

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

The directors acknowledge their responsibilities for:
(a) ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

3DReid Limited (Registered number: SC278348)

Consolidated Balance Sheet - continued
31 October 2024


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

The financial statements were approved by the Board of Directors and authorised for issue on 28 July 2025 and were signed on its behalf by:





N Speakes - Director


3DReid Limited (Registered number: SC278348)

Company Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £   
FIXED ASSETS
Intangible assets 7 - -
Tangible assets 8 59,779 90,032
Investments 9 320 320
60,099 90,352

CURRENT ASSETS
Debtors 10 3,770,326 3,165,908
Cash at bank 264,134 776,727
4,034,460 3,942,635
CREDITORS
Amounts falling due within one year 11 (1,222,665 ) (1,104,126 )
NET CURRENT ASSETS 2,811,795 2,838,509
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,871,894

2,928,861

CREDITORS
Amounts falling due after more than one
year

12

(116,287

)

(264,872

)

PROVISIONS FOR LIABILITIES (4,700 ) (9,000 )
NET ASSETS 2,750,907 2,654,989

CAPITAL AND RESERVES
Called up share capital 945,000 945,000
Share premium 487,200 487,200
Retained earnings 1,318,707 1,222,789
SHAREHOLDERS' FUNDS 2,750,907 2,654,989

Company's profit/(loss) for the financial year 95,918 (16,658 )

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

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

3DReid Limited (Registered number: SC278348)

Company Balance Sheet - continued
31 October 2024


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

The financial statements were approved by the Board of Directors and authorised for issue on 28 July 2025 and were signed on its behalf by:





N Speakes - Director


3DReid Limited (Registered number: SC278348)

Consolidated Statement of Changes in Equity
for the Year Ended 31 October 2024

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1 November 2022 945,000 1,462,584 487,200 2,894,784

Changes in equity
Total comprehensive income - (2,384 ) - (2,384 )
Balance at 31 October 2023 945,000 1,460,200 487,200 2,892,400

Changes in equity
Total comprehensive income - 114,647 - 114,647
Balance at 31 October 2024 945,000 1,574,847 487,200 3,007,047

3DReid Limited (Registered number: SC278348)

Company Statement of Changes in Equity
for the Year Ended 31 October 2024

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1 November 2022 945,000 1,239,447 487,200 2,671,647

Changes in equity
Total comprehensive income - (16,658 ) - (16,658 )
Balance at 31 October 2023 945,000 1,222,789 487,200 2,654,989

Changes in equity
Total comprehensive income - 95,918 - 95,918
Balance at 31 October 2024 945,000 1,318,707 487,200 2,750,907

3DReid Limited (Registered number: SC278348)

Notes to the Consolidated Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

3DReid 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 General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The Group finances its activities through the use of long term bank loans.

Given the information presented, the Directors continue to adopt a going concern basis in preparing the financial statements.

Basis of consolidation
The group financial statements incorporate 3DReid Limited and its subsidiaries made up to 31 October 2024.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Critical accounting judgements and estimates
The preparation of these financial statements requires the directors to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. Judgements and estimates are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The company makes estimates and assumptions concerning the future. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of asset and liabilities within the next financial year are discussed below:

Work in progress
Work in progress is valued at cost of all direct expenditure plus attributable fixed and variable overheads less any provision for foreseeable losses.

Revenue recognition
Revenue is recognised to the extent that it is probable that the financial benefits will flow to the Practice and the revenue can be readily measured. Turnover from the fees for architectural services is recognised by reference to stage payments. The stage of where a contract is at is determined either by reference to the estimate of the fee drawdown, evaluation of the proportion of fees in relation to milestones and the proportion of WIP valued, depending on the nature of the underlying contract.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, was amortised evenly over its estimated useful life and was fully written off at 31 October 2020.

3DReid Limited (Registered number: SC278348)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - over the term of the lease
Fixtures and fittings - 33% on cost, 25% on cost and over the term of the lease
Computer equipment - 33% on cost and 25% on cost

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

Financial instruments
Debtors
Trade debtors and other debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence the asset is impaired.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at bank and in hand.

Creditors
Trade creditors and other creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3DReid Limited (Registered number: SC278348)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Fixed asset investments are stated at cost less provision for diminution in value.

3. EMPLOYEES AND DIRECTORS

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

The average number of employees by undertakings that were proportionately consolidated during the year was 110 (2023 - 111 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

31.10.24 31.10.23
£    £   
Depreciation - owned assets 12,441 15,771
Depreciation - assets on hire purchase contracts 54,661 66,458

5. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
31.10.24 31.10.23
£    £   
Current tax:
UK corporation tax 53,462 3,565

Deferred tax (4,300 ) (9,300 )
Tax on profit/(loss) 49,162 (5,735 )

6. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.


3DReid Limited (Registered number: SC278348)

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

7. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 2,771,065
AMORTISATION
At 1 November 2023
and 31 October 2024 2,771,065
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

Company
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 2,771,065
AMORTISATION
At 1 November 2023
and 31 October 2024 2,771,065
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

3DReid Limited (Registered number: SC278348)

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

8. TANGIBLE FIXED ASSETS

Group
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 November 2023 25,261 1,067,183 1,279,834 2,372,278
Additions - 618 26,862 27,480
At 31 October 2024 25,261 1,067,801 1,306,696 2,399,758
DEPRECIATION
At 1 November 2023 17,866 1,061,383 1,186,824 2,266,073
Charge for year 6,625 4,294 56,183 67,102
At 31 October 2024 24,491 1,065,677 1,243,007 2,333,175
NET BOOK VALUE
At 31 October 2024 770 2,124 63,689 66,583
At 31 October 2023 7,395 5,800 93,010 106,205

Included within the net book value above are assets held under hire purchase agreements of £59,779 (2023: £90,032).

Company
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 November 2023 924,972 1,265,635 2,190,607
Additions - 24,408 24,408
At 31 October 2024 924,972 1,290,043 2,215,015
DEPRECIATION
At 1 November 2023 924,972 1,175,603 2,100,575
Charge for year - 54,661 54,661
At 31 October 2024 924,972 1,230,264 2,155,236
NET BOOK VALUE
At 31 October 2024 - 59,779 59,779
At 31 October 2023 - 90,032 90,032

Included within the net book value above are assets held under hire purchase agreements of £59,779 (2023: £90,032).

3DReid Limited (Registered number: SC278348)

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

9. FIXED ASSET INVESTMENTS

Company
Unlisted
investments
£   
COST
At 1 November 2023
and 31 October 2024 320
NET BOOK VALUE
At 31 October 2024 320
At 31 October 2023 320

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries


3DReid Scotland Limited
Registered office: 36 North Castle Street, Edinburgh, United Kingdom, EH2 3BN
Nature of business: Architects
%
Class of shares: holding
Ordinary 100.00

3DReid London Limited
Registered office: 1 Hills Place, London, England, W1F 7SA
Nature of business: Architects
%
Class of shares: holding
Ordinary 100.00

3DReid Birmingham Limited
Registered office: 12 Caroline Street, Birmingham, United Kingdom, B3 1TR
Nature of business: Architects
%
Class of shares: holding
Ordinary 100.00

3DReid Manchester Limited
Registered office: 26 Cross Street, Manchester, United Kingdom, M2 7AQ
Nature of business: Architects
%
Class of shares: holding
Ordinary 100.00


3DReid Limited (Registered number: SC278348)

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

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.10.24 31.10.23 31.10.24 31.10.23
£    £    £    £   
Trade debtors 2,063,206 1,767,348 982,887 366,223
Amounts owed by group undertakings 1,440,650 1,275,650 2,320,193 2,413,125
Other debtors 698,597 576,578 467,246 386,560
4,202,453 3,619,576 3,770,326 3,165,908

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.10.24 31.10.23 31.10.24 31.10.23
£    £    £    £   
Bank loans and overdrafts 178,750 178,750 178,750 178,750
Hire purchase contracts (see note 13) 14,783 33,534 14,783 33,534
Trade creditors 801,261 830,277 482,195 371,838
Tax 53,462 3,565 32,862 -
Social security and other taxes 120,312 121,565 120,312 121,565
VAT 363,187 252,995 303,554 298,449
Other creditors 49,876 43,627 49,876 43,627
Accrued expenses 334,805 363,542 40,333 56,363
1,916,436 1,827,855 1,222,665 1,104,126

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
31.10.24 31.10.23 31.10.24 31.10.23
£    £    £    £   
Bank loans - 1-2 years 81,354 178,750 81,354 178,750
Bank loans - 2-5 years - 81,354 - 81,354
Hire purchase contracts (see note 13) 34,933 4,768 34,933 4,768
116,287 264,872 116,287 264,872

13. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
31.10.24 31.10.23
£    £   
Net obligations repayable:
Within one year 14,783 33,534
Between one and five years 34,933 4,768
49,716 38,302

3DReid Limited (Registered number: SC278348)

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

13. LEASING AGREEMENTS - continued

Company
Hire purchase contracts
31.10.24 31.10.23
£    £   
Net obligations repayable:
Within one year 14,783 33,534
Between one and five years 34,933 4,768
49,716 38,302

Group
Non-cancellable operating leases
31.10.24 31.10.23
£    £   
Within one year 498,412 430,479
Between one and five years 271,334 321,786
In more than five years 270,000 337,500
1,039,746 1,089,765

Company
Non-cancellable operating leases
31.10.24 31.10.23
£    £   
Within one year 10,460 10,460
Between one and five years 4,359 10,460
In more than five years - 4,359
14,819 25,279

14. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
31.10.24 31.10.23 31.10.24 31.10.23
£    £    £    £   
Bank loans 260,104 438,854 260,104 438,854
Hire purchase contracts 49,716 38,302 49,716 38,302
309,820 477,156 309,820 477,156

The bank loans and pension scheme loan are secured by a bond and floating charge over the company's assets. The hire purchase contracts are secured over the assets to which they relate.

15. ULTIMATE PARENT COMPANY

The ultimate parent company is HF8 Limited.