1 September 2022 false No description of principal activity Taxfiler 2023.9 SC707355business:PrivateLimitedCompanyLtd2022-09-012023-08-31 SC7073552022-08-31 SC7073552022-09-012023-08-31 SC707355business:AuditExemptWithAccountantsReport2022-09-012023-08-31 SC707355business:FilletedAccounts2022-09-012023-08-31 SC7073552023-08-31 SC707355business:Director12022-09-012023-08-31 SC707355business:RegisteredOffice2022-09-012023-08-31 SC7073552022-08-31 SC707355core:WithinOneYear2023-08-31 SC707355core:WithinOneYear2022-08-31 SC707355core:ShareCapitalcore:PreviouslyStatedAmount2023-08-31 SC707355core:ShareCapitalcore:PreviouslyStatedAmount2022-08-31 SC707355core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-08-31 SC707355core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-08-31 SC707355core:PreviouslyStatedAmount2023-08-31 SC707355core:PreviouslyStatedAmount2022-08-31 SC707355business:SmallEntities2022-09-012023-08-31 SC707355countries:Scotland2022-09-012023-08-31 SC707355core:FurnitureFittings2022-09-012023-08-31 SC707355core:ComputerEquipment2022-09-012023-08-31 SC707355core:FurnitureFittings2022-08-31 SC707355core:ComputerEquipment2022-08-31 SC707355core:FurnitureFittings2023-08-31 SC707355core:ComputerEquipment2023-08-31 SC7073552021-08-232022-08-31 iso4217:GBP xbrli:pure
Company Registration No. SC707355 (Scotland)
PHIL KYLE LIMITED Unaudited accounts for the year ended 31 August 2023
PHIL KYLE LIMITED Unaudited accounts Contents
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PHIL KYLE LIMITED Company Information for the year ended 31 August 2023
Director
Philip Kyle
Company Number
SC707355 (Scotland)
Registered Office
21 BROADSTRAIK CRESCENT ELRICK WESTHILL AB32 6JR UNITED KINGDOM
Accountants
A2Z Accounting Solutions Limited 26 Grandholm Grove Aberdeen AB22 8AX
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PHIL KYLE LIMITED Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
7,199 
2,066 
Current assets
Debtors
1,805 
1,744 
Cash at bank and in hand
4,703 
201 
6,508 
1,945 
Creditors: amounts falling due within one year
(12,209)
(3,513)
Net current liabilities
(5,701)
(1,568)
Total assets less current liabilities
1,498 
498 
Provisions for liabilities
Deferred tax
(1,368)
(393)
Net assets
130 
105 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
120 
95 
Shareholders' funds
130 
105 
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 6 October 2023 and were signed on its behalf by
Philip Kyle Director Company Registration No. SC707355
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PHIL KYLE LIMITED Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
PHIL KYLE LIMITED is a private company, limited by shares, registered in Scotland, registration number SC707355. The registered office is 21 BROADSTRAIK CRESCENT ELRICK, WESTHILL, AB32 6JR, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 31 August 2023 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 23 August 2021. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
33% SLM
Computer equipment
25% RB
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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PHIL KYLE LIMITED Notes to the Accounts for the year ended 31 August 2023
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 September 2022
3,097 
- 
3,097 
Additions
4,115 
3,513 
7,628 
At 31 August 2023
7,212 
3,513 
10,725 
Depreciation
At 1 September 2022
1,031 
- 
1,031 
Charge for the year
2,403 
92 
2,495 
At 31 August 2023
3,434 
92 
3,526 
Net book value
At 31 August 2023
3,778 
3,421 
7,199 
At 31 August 2022
2,066 
- 
2,066 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
1,805 
1,744 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
3,382 
- 
Taxes and social security
9,976 
10,164 
Loans from directors
(2,724)
(8,226)
Accruals
1,575 
1,575 
12,209 
3,513 
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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