DOUGLAS REID LTD
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
Company Registration No. SC419595 (Scotland)
DOUGLAS REID LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
DOUGLAS REID LTD
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2016
30 September 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Investments
2
2,500
2,500
Current assets
Investments
170,000
120,000
Cash at bank and in hand
127,822
122,774
297,822
242,774
Creditors: amounts falling due within one year
(926)
(1,158)
Net current assets
296,896
241,616
Total assets less current liabilities
299,396
244,116
Capital and reserves
Called up share capital
3
2,500
2,500
Profit and loss account
296,896
241,616
Shareholders' funds
299,396
244,116
For the financial year ended 30 September 2016 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.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 15 November 2016
Mr Douglas Reid
Director
Company Registration No. SC419595
DOUGLAS REID LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
Current asset investments are stated at the lower of cost and net realisable value.
1.5
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
2
Fixed assets
Investments
£
Cost
At 1 October 2015 & at 30 September 2016
2,500
At 30 September 2015
2,500
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Participating interests
Rescu Solutions Limited
Scotland
Ordinary
50.00
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2016
2016
Principal activity
£
£
Rescu Solutions Limited
Supply chain and procurement consultants
105,515
217,143
DOUGLAS REID LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2,500 Ordinary of £1 each
2,500
2,500