REGISTERED NUMBER: SC278348 (Scotland)

Report of the Directors and

Unaudited Consolidated Financial Statements for the Year Ended 31 October 2025

for

3DReid Limited

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

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

The directors present their report with the financial statements of the company and the group for the year ended 31 October 2025.

REVIEW OF BUSINESS

The business generated fee income of £8,502,514 (2024: £8,952,523), which resulted in an operating profit for the year of 133,165 (loss in 2024: £71,792).

DIRECTORS

The directors shown below have held office during the whole of the period from 1 November 2024 to the date of this report.

G Hickson-Smith

N Speakes

M Bedey

Other changes in directors holding office are as follows:

D Llewellyn - resigned 1 May 2025

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 September 2026

TURNOVER

8,502,514

8,952,523

Administrative expenses

(8,369,349

)

(9,024,315

)

OPERATING PROFIT/(LOSS)

4

133,165

(71,792

)

Interest receivable and similar income

5,732

22,308

138,897

(49,484

)

Interest payable and similar expenses

(54,965

)

(72,866

)

PROFIT/(LOSS) BEFORE TAXATION

83,932

(122,350

)

Tax on profit/(loss)

6

206,349

(49,162

)

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

290,281

(171,512

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

290,281

(171,512

)

Prior year adjustment

8

(286,159

)

TOTAL COMPREHENSIVE INCOME SINCE LAST ANNUAL REPORT

4,122

Profit/(loss) attributable to:

Owners of the parent

290,281

(171,512

)

Total comprehensive income attributable to:

Owners of the parent

4,122

(171,512

)

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

16,255

66,583

Investments

11

-

-

16,255

66,583

CURRENT ASSETS

Stocks

393,462

427,371

Debtors

12

4,555,156

4,202,453

Cash at bank and in hand

74,931

348,063

5,023,549

4,977,887

CREDITORS

Amounts falling due within one year

13

(2,017,651

)

(2,202,595

)

NET CURRENT ASSETS

3,005,898

2,775,292

TOTAL ASSETS LESS CURRENT LIABILITIES

3,022,153

2,841,875

CREDITORS

Amounts falling due after more than one year

14

(10,984

)

(116,287

)

PROVISIONS FOR LIABILITIES

-

(4,700

)

NET ASSETS

3,011,169

2,720,888

CAPITAL AND RESERVES

Called up share capital

945,000

945,000

Share premium

487,200

487,200

Retained earnings

1,578,969

1,288,688

SHAREHOLDERS' FUNDS

3,011,169

2,720,888

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 2025.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 31 October 2025 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.

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 September 2026 and were signed on its behalf by:

N Speakes - Director

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

10,444

59,779

Investments

11

320

320

10,764

60,099

CURRENT ASSETS

Debtors

12

4,309,793

3,770,326

Cash at bank

34,931

264,134

4,344,724

4,034,460

CREDITORS

Amounts falling due within one year

13

(1,610,249

)

(1,508,824

)

NET CURRENT ASSETS

2,734,475

2,525,636

TOTAL ASSETS LESS CURRENT LIABILITIES

2,745,239

2,585,735

CREDITORS

Amounts falling due after more than one year

14

(10,984

)

(116,287

)

PROVISIONS FOR LIABILITIES

-

(4,700

)

NET ASSETS

2,734,255

2,464,748

CAPITAL AND RESERVES

Called up share capital

945,000

945,000

Share premium

487,200

487,200

Retained earnings

1,302,055

1,032,548

SHAREHOLDERS' FUNDS

2,734,255

2,464,748

Company's profit/(loss) for the financial year

269,507

(190,241

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 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.

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 September 2026 and were signed on its behalf by:

N Speakes - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 November 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

Prior year adjustment

-

(286,159

)

-

(286,159

)

As restated

945,000

1,288,688

487,200

2,720,888

Changes in equity

Total comprehensive income

-

290,281

-

290,281

Balance at 31 October 2025

945,000

1,578,969

487,200

3,011,169

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 November 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

Prior year adjustment

-

(286,159

)

-

(286,159

)

As restated

945,000

1,032,548

487,200

2,464,748

Changes in equity

Total comprehensive income

-

269,507

-

269,507

Balance at 31 October 2025

945,000

1,302,055

487,200

2,734,255

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 2025.

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.

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.

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 10 (2024 - 12 ) .

The average number of employees by undertakings that were proportionately consolidated during the year was 101 (2024 - 110 ) .

4.	OPERATING PROFIT/(LOSS)

The operating profit (2024 - operating loss) is stated after charging:

31.10.25

31.10.24

as restated

£

£

Depreciation - owned assets

4,558

12,441

Depreciation - assets on hire purchase contracts

49,335

54,661

5.	EXCEPTIONAL ITEMS

31.10.25

31.10.24

as restated

£

£

Redundancy costs

(131,569

)

-

6.

TAXATION

Analysis of the tax (credit)/charge

The tax (credit)/charge on the profit for the year was as follows:

31.10.25

31.10.24

as restated

£

£

Current tax:

UK corporation tax

(17,478

)

53,462

R&D tax credit

(184,171

)

-

Total current tax

(201,649

)

53,462

Deferred tax

(4,700

)

(4,300

)

Tax on profit/(loss)

(206,349

)

49,162

7.	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.

8.	PRIOR YEAR ADJUSTMENT

During the year, the company was notified of an insurance cash call relating to previous accounting periods. The comparative figures have been restated to recognise the expense in the year ended 31 October 2024. Accordingly, £286,159 has been charged to the profit and loss account for the year ended 31 October 2024.

9.	INTANGIBLE FIXED ASSETS

Group

Goodwill

£

COST

At 1 November 2024

and 31 October 2025

2,771,065

AMORTISATION

At 1 November 2024

and 31 October 2025

2,771,065

NET BOOK VALUE

At 31 October 2025

-

At 31 October 2024

-

Company

Goodwill

£

COST

At 1 November 2024

and 31 October 2025

2,771,065

AMORTISATION

At 1 November 2024

and 31 October 2025

2,771,065

NET BOOK VALUE

At 31 October 2025

-

At 31 October 2024

-

10.	TANGIBLE FIXED ASSETS

Group

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 November 2024

25,261

1,067,801

1,306,696

2,399,758

Additions

-

-

3,565

3,565

At 31 October 2025

25,261

1,067,801

1,310,261

2,403,323

DEPRECIATION

At 1 November 2024

24,491

1,065,677

1,243,007

2,333,175

Charge for year

577

1,125

52,191

53,893

At 31 October 2025

25,068

1,066,802

1,295,198

2,387,068

NET BOOK VALUE

At 31 October 2025

193

999

15,063

16,255

At 31 October 2024

770

2,124

63,689

66,583

Included within the net book value above are assets held under hire purchase agreements of £10,445 (2024: £59,779).

Company

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 November 2024

and 31 October 2025

924,972

1,290,043

2,215,015

DEPRECIATION

At 1 November 2024

924,972

1,230,264

2,155,236

Charge for year

-

49,335

49,335

At 31 October 2025

924,972

1,279,599

2,204,571

NET BOOK VALUE

At 31 October 2025

-

10,444

10,444

At 31 October 2024

-

59,779

59,779

Included within the net book value above are assets held under hire purchase agreements of £10,444 (2024: £59,779).

11.	FIXED ASSET INVESTMENTS

Company

Unlisted

investments

£

COST

At 1 November 2024

and 31 October 2025

320

NET BOOK VALUE

At 31 October 2025

320

At 31 October 2024

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

12.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

31.10.25

31.10.24

31.10.25

31.10.24

as restated

as restated

£

£

£

£

Trade debtors

1,933,737

2,063,206

1,380,114

982,887

Amounts owed by group undertakings

1,605,650

1,440,650

2,255,819

2,320,193

Other debtors

1,015,769

698,597

673,860

467,246

4,555,156

4,202,453

4,309,793

3,770,326

13.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

31.10.25

31.10.24

31.10.25

31.10.24

as restated

as restated

£

£

£

£

Bank loans and overdrafts

81,354

178,750

81,354

178,750

Hire purchase contracts (see note 15)

8,732

14,783

8,732

14,783

Trade creditors

792,710

801,260

709,886

482,195

Tax

35,984

53,462

35,984

32,862

Social security and other taxes

108,351

120,312

108,351

120,312

VAT

521,855

363,187

532,538

303,554

Other creditors

79,057

49,876

79,057

49,876

Accrued expenses

389,608

620,965

54,347

326,492

2,017,651

2,202,595

1,610,249

1,508,824