J Reid Trading Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01833223

J Reid Trading Limited

Filleted Unaudited Financial Statements

31 December 2024

J Reid Trading Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		2,084	1,648

Current assets

Stocks		85,141	45,328
Debtors	6	196,182	584,521
Investments	7	2,981,314	3,068,178
Cash at bank and in hand		1,552,560	917,068
		------------	------------
		4,815,197	4,615,095

Creditors: amounts falling due within one year	8	516,543		205,496
		------------		------------
Net current assets			4,298,654	4,409,599
			------------	------------
Total assets less current liabilities			4,300,738	4,411,247

Provisions

Taxation including deferred tax	80,085	91,942
	------------	------------
Net assets	4,220,653	4,319,305
	------------	------------

Capital and reserves

Called up share capital	450	450
Share premium account	49,950	49,950
Capital redemption reserve	23	23
Profit and loss account	4,170,230	4,268,882
	------------	------------
Shareholders funds	4,220,653	4,319,305
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

J Reid Trading Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 17 September 2025 , and are signed on behalf of the board by:

Mr MJ Reid

Director

Company registration number: 01833223

J Reid Trading Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Factory Road, Sandycroft, Flintshire, CH5 2QJ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Investments

Current asset investments are initially recognised at cost and subsequently accounted for at fair value. Gains and losses in value are shown though the profit and loss account. Unless the fair value cannot be measured reliably without undue cost or effort, in which case it is accounted for at cost.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company accounting policies.

Revenue recognition

The turnover shown in the profit and loss account represents amounts invoiced for the provision of precision and general engineering services during the year, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & Machinery -	-	25% Reducing balance & 50% Straight line
Motor Vehicles	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2023: 1 ).

5. Tangible assets

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost
At 1 January 2024	83,198	28,939	112,137
Additions	1,130	–	1,130
	--------	--------	---------
At 31 December 2024	84,328	28,939	113,267
	--------	--------	---------
Depreciation
At 1 January 2024	81,954	28,535	110,489
Charge for the year	593	101	694
	--------	--------	---------
At 31 December 2024	82,547	28,636	111,183
	--------	--------	---------
Carrying amount
At 31 December 2024	1,781	303	2,084
	--------	--------	---------
At 31 December 2023	1,244	404	1,648
	--------	--------	---------

6. Debtors

	2024	2023
	£	£
Trade debtors	44,859	120,468
Other debtors	151,323	464,053
	---------	---------
	196,182	584,521
	---------	---------

7. Investments

	2024	2023
	£	£
Investments in participating interests	–	15,000
Listed investments	851,314	870,428
Other investments in land	2,130,000	2,182,750
	------------	------------
	2,981,314	3,068,178
	------------	------------

During the year, the company disposed of its entire holding in J Reid Engineering Limited, which had previously been accounted for as a participating interest. The investment was sold in two separate transactions, on 26/02/24 and 28/03/24, for total consideration of £84,444, resulting in a gain/loss on disposal of £29,224, which has been recognised in the profit and loss account. At the date of disposal, the carrying value of the investment was £55,220. No further interests are held in the entity following the disposal.

Investment properties are held at fair value, with changes in fair value recognised in the profit and loss account.

As at the reporting date, the following investment properties were informally valued: Property in Chester: £130,000

Land in Irlam: £1,400,000

Land in Sandycroft: £600,000

The valuations were carried out internally by M. Reid, an officer of the company, having due regard to local market conditions, comparable property values, and the current economic climate.

On 20 May 2024, the company sold an investment in land for £25,000. The land had been held at a carrying value of £24,000 in the prior year. The resulting gain of £1,000 has been recognised in the profit and loss account.

At the year end the company held listed investments the balance is shown in the accounts at fair value. The aggregate market value of the listed investments at 31 December 2024 was £851,314 (2023 £870,428).

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	23,949	86,652
Social security and other taxes	4,978	82,367
Other creditors	487,616	36,477
	---------	---------
	516,543	205,496
	---------	---------

9. Directors' advances, credits and guarantees

The director operates a current account with the company. As follows:

		2024
		£
	Opening Balance	29,902
	Movement	452,347
		---------
	Closing Balance	482,249
		---------

10. Related party transactions

During the year, the company sold its investment in a participating interest in J Reid Engineering Limited to Mr MJ Reid , a director of the company. The shares were sold for £40,000, which was considered to reflect fair market value at the time of the transaction. The transaction was conducted on normal commercial terms. At the time of the transaction, the investment had a carrying value of £15,000, resulting in a gain of £25,000 recognised in the profit and loss account. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102 section 33.