G1 Reeds Limited

	Page
Accountant's Report	1
Balance Sheet	2—3
Notes to the Financial Statements	4—6

Report to the director on the preparation of the unaudited statutory accounts of G1 Reeds Limited for the year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of G1 Reeds Limited for the year ended 31 March 2025 which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company's accounting records and from information and explanations you have given to us.

As a practising member of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/regulation-technical-resources/documents/framework-for-the-preparation-of-accounts-revised-june-2020.

This report is made solely to the director of G1 Reeds Limited , as a body, in accordance with the terms of our engagement letter dated 27 November 2024. Our work has been undertaken solely to prepare for your approval the accounts of G1 Reeds Limited and state those matters that we have agreed to state to the director of G1 Reeds Limited , as a body, in this report in accordance with the requirements of the ICAS as detailed at https://www.icas.com/regulation-technical-resources/documents/framework-for-the-preparation-of-accounts-revised-june-2020. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than G1 Reeds Limited and its director, as a body, for our work or for this report.

It is your duty to ensure that G1 Reeds Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of G1 Reeds Limited . You consider that G1 Reeds Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of G1 Reeds Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Signed

3 December 2025

Glen Drummond Ltd

Chartered Accountants

Argyll House

Quarrywood Court

Livingston

EH54 6AX

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G1 Reeds Limited

Balance Sheet

As At 31 March 2025

Balance Sheet

Registered number: SC491324

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		600		800
Tangible Assets	5		10,179		13,335

			10,779		14,135
CURRENT ASSETS
Stocks	6	59,928		48,060
Debtors	7	89,609		106,430
Cash at bank and in hand		904,379		845,384

		1,053,916		999,874
Creditors: Amounts Falling Due Within One Year	8	(65,096 )		(124,612 )

NET CURRENT ASSETS (LIABILITIES)			988,820		875,262

TOTAL ASSETS LESS CURRENT LIABILITIES			999,599		889,397

PROVISIONS FOR LIABILITIES
Deferred Taxation			(2,545 )		(3,334 )

NET ASSETS			997,054		886,063

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			996,954		885,963

SHAREHOLDERS' FUNDS			997,054		886,063

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G1 Reeds Limited

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mrs P Elliott

Director

3 December 2025

The notes on pages 4 to 6 form part of these financial statements.

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G1 Reeds Limited

Notes to the Financial Statements

For The Year Ended 31 March 2025

Notes to the Financial Statements

1. General Information

G1 Reeds Limited is a private company, limited by shares, incorporated in Scotland, registered number SC491324 . The registered office is 28 Dunnikier Road, Kirkcaldy, KY1 2RU.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of 10 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% reducing balance
Computer Equipment	20% straight line

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Financial Instruments

Basic financial instruments are initially recognised at transaction price, including transaction costs, and subsequently measured at amortised cost using the effective interest method, where applicable. These can include trade and other debtors, cash and bank balances, trade and other creditors, and intercompany balances. Financial assets are assessed at the end of each reporting period for evidence of impairment and adjusted if necessary. The company does not hold or issue any complex financial instruments such as derivatives.

2.7. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.8. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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G1 Reeds Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.8. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.9. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 9 (2024: 10)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2024	12,000

As at 31 March 2025	12,000

Amortisation
As at 1 April 2024	11,200
Provided during the period	200

As at 31 March 2025	11,400

Net Book Value
As at 31 March 2025	600

As at 1 April 2024	800

5. Tangible Assets

	Plant & Machinery	Computer Equipment	Total
	£	£	£
Cost
As at 1 April 2024	70,632	9,462	80,094

As at 31 March 2025	70,632	9,462	80,094

Depreciation
As at 1 April 2024	58,847	7,912	66,759
Provided during the period	2,357	799	3,156

As at 31 March 2025	61,204	8,711	69,915

Net Book Value
As at 31 March 2025	9,428	751	10,179

As at 1 April 2024	11,785	1,550	13,335

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G1 Reeds Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Stocks

	2025	2024
	£	£
Stock	59,928	48,060

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	14,549	27,676
Other debtors	75,060	78,754

	89,609	106,430

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	15,171	27,114
Bank loans and overdrafts	92	-
Other creditors	4,142	6,280
Taxation and social security	45,691	91,218

	65,096	124,612

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

10. Related Party Disclosures

The company operated a loan account with the former director, the late Mr J Elliott.

During the year, loans totalling £5,616 were repaid to the company. At the year end, the balance due from the former director was £54,065 (2024: £59,681). This loan is unsecured, interest free and has no fixed repayment terms.

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