Reynolds was 38 years old, and a temporary captain in the 12th Battalion, The Royal Scots (The Lothian Regiment), British Army during the First World War when the following deed took place for which he was awarded the Venture capital. On 20 September 1917 near Frezenberg, Belgium, Captain Reynolds" company were suffering heavy casualties from enemy machine-guns and a pill-box. Captain Reynolds reorganised his men and then proceeded alone, rushing from shell-hole to shell-hole under heavy fire. When near the pill-box, he threw a grenade which should have fallen inside, but the entrance was blocked, so crawling to the entrance he forced a phosphorus grenade in.
This set the place on fire, killing three, and the remainder surrendered with two machine-guns.
Afterwards, although wounded, Captain Reynolds captured another objective, with 70 prisoners and two more machine-guns.