REGISTERED NUMBER: SC498873 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Reid Brothers Int Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

8

DIRECTOR:

D Rooney

SECRETARY:

REGISTERED OFFICE:

Comac House

2 Coddington Crescent

Eurocentral

North Lanarkshire

ML1 4YF

REGISTERED NUMBER:

SC498873 (Scotland)

ACCOUNTANTS:

Gordon Ferguson & Co Ltd

76 Hamilton Road

Motherwell

Lanarkshire

ML1 3BY

FIXED ASSETS

Intangible assets

4

12,000

36,000

Tangible assets

5

131,673

142,733

143,673

178,733

CURRENT ASSETS

Stocks

683,764

707,692

Debtors

6

319,972

275,484

Cash at bank and in hand

205,233

134,982

1,208,969

1,118,158

CREDITORS

Amounts falling due within one year

7

506,971

440,648

NET CURRENT ASSETS

701,998

677,510

TOTAL ASSETS LESS CURRENT LIABILITIES

845,671

856,243

CREDITORS

Amounts falling due after more than one year

8

103,554

168,351

NET ASSETS

742,117

687,892

CAPITAL AND RESERVES

Called up share capital

107

107

Retained earnings

742,010

687,785

742,117

687,892

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 3 September 2025 and were signed by:

D Rooney - Director

1.	STATUTORY INFORMATION

Reid Brothers Int Ltd 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.

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 2015, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

10% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on cost

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

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 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 8 (2023 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

240,000

AMORTISATION

At 1 January 2024

204,000

Charge for year

24,000

At 31 December 2024

228,000

NET BOOK VALUE

At 31 December 2024

12,000

At 31 December 2023

36,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2024

33,794

104,446

49,533

Additions

-

1,301

1,354

Disposals

-

-

-

At 31 December 2024

33,794

105,747

50,887

DEPRECIATION

At 1 January 2024

10,401

52,826

15,212

Charge for year

3,379

20,577

4,988

Eliminated on disposal

-

-

-

At 31 December 2024

13,780

73,403

20,200

NET BOOK VALUE

At 31 December 2024

20,014

32,344

30,687

At 31 December 2023

23,393

51,620

34,321

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

46,348

28,064

262,185

Additions

42,940

1,500

47,095

Disposals

(26,353

)

-

(26,353

)

At 31 December 2024

62,935

29,564

282,927

DEPRECIATION

At 1 January 2024

21,786

19,227

119,452

Charge for year

14,539

4,693

48,176

Eliminated on disposal

(16,374

)

-

(16,374

)

At 31 December 2024

19,951

23,920

151,254

NET BOOK VALUE

At 31 December 2024

42,984

5,644

131,673

At 31 December 2023

24,562

8,837

142,733

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2024

30,967

19,995

50,962

Additions

-

42,940

42,940

At 31 December 2024

30,967

62,935

93,902

DEPRECIATION

At 1 January 2024

17,548

5,624

23,172

Charge for year

6,193

14,327

20,520

At 31 December 2024

23,741

19,951

43,692

NET BOOK VALUE

At 31 December 2024

7,226

42,984

50,210

At 31 December 2023

13,419

14,371

27,790

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

166,698

173,468

Other debtors

153,274

102,016

319,972

275,484

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

36,000

36,000

Trade creditors

200,109

203,862

Taxation and social security

146,348

113,467

Other creditors

124,514

87,319

506,971

440,648

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Other creditors

103,554

168,351

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank Loan 1

38,000

62,000

Bank Loan 2

26,000

38,000

64,000

100,000

Bank loans and overdraft are secured by a bond and floating charge over the assets of the company.

10.	RELATED PARTY DISCLOSURES

As at 31st December 2024 there was an outstanding loan to the value of £43,297 due to be paid to SLD Enterprises Ltd.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2024 set out on pages two to six and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Gordon Ferguson & Co Ltd

76 Hamilton Road

Motherwell

Lanarkshire

ML1 3BY

3 September 2025