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REGISTERED NUMBER: SC444946 (Scotland)






































Kyle Bros. Funeral Directors Limited

Unaudited Financial Statements

for the Year Ended 30th April 2023






Kyle Bros. Funeral Directors Limited (Registered number: SC444946)






Contents of the Financial Statements
for the year ended 30th April 2023




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 7


Kyle Bros. Funeral Directors Limited

Company Information
for the year ended 30th April 2023







Director: D P Irvine





Registered office: 2 Maxwellheugh
Kelso
Roxburghshire
TD5 8AY





Registered number: SC444946 (Scotland)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Kyle Bros. Funeral Directors Limited (Registered number: SC444946)

Balance Sheet
30th April 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 179,023 232,270
179,023 232,270

Current assets
Stocks 84,500 93,400
Debtors 6 70,836 116,395
Cash at bank 13,749 8,434
169,085 218,229
Creditors
Amounts falling due within one year 7 145,092 163,116
Net current assets 23,993 55,113
Total assets less current liabilities 203,016 287,383

Creditors
Amounts falling due after more than one
year

8

(59,482

)

(88,452

)

Provisions for liabilities (34,014 ) (44,131 )
Net assets 109,520 154,800

Capital and reserves
Called up share capital 1,000 1,000
Retained earnings 108,520 153,800
Shareholders' funds 109,520 154,800

Kyle Bros. Funeral Directors Limited (Registered number: SC444946)

Balance Sheet - continued
30th April 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 9th November 2023 and were signed by:





D P Irvine - Director


Kyle Bros. Funeral Directors Limited (Registered number: SC444946)

Notes to the Financial Statements
for the year ended 30th April 2023

1. Statutory information

Kyle Bros. Funeral Directors 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 Company Information page.

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.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales invoiced during the year, or the fair value of services provided for amounts not invoiced at the year end.

Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned. Unbilled turnover is included in debtors as amounts recoverable on contracts.

Goodwill
Acquired goodwill has now been fully written off over its estimated useful economic life of 5 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Plant and equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Fittings and office equipment - 15% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Stock is valued at the lower of cost and net realisable value. Cost includes all direct expenditure and appropriate proportion of fixed and variable overheads. Net realisable value is based on estimated selling prices less further costs expected to be incurred in bringing the stock to completion.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals, hire purchase contracts, bank overdraft and directors' loans.

Hire purchase contracts are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors, trade creditors, bank overdraft and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.


Kyle Bros. Funeral Directors Limited (Registered number: SC444946)

Notes to the Financial Statements - continued
for the year ended 30th April 2023

2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income And Retained Earnings 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

Going concern
The director has considered the company's financial position for the period of 12 months from the date of signing these financial statements and has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, he continues to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

The average number of employees during the year was 10 (2022 - 8 ) .

Kyle Bros. Funeral Directors Limited (Registered number: SC444946)

Notes to the Financial Statements - continued
for the year ended 30th April 2023

4. Intangible fixed assets
Goodwill
£   
Cost
At 1st May 2022
and 30th April 2023 130,100
Amortisation
At 1st May 2022
and 30th April 2023 130,100
Net book value
At 30th April 2023 -
At 30th April 2022 -

5. Tangible fixed assets
Fittings
and
Plant and Motor office
equipment vehicles equipment Totals
£    £    £    £   
Cost
At 1st May 2022 16,700 330,462 32,630 379,792
Additions - - 3,017 3,017
At 30th April 2023 16,700 330,462 35,647 382,809
Depreciation
At 1st May 2022 8,897 118,722 19,903 147,522
Charge for year 1,170 52,935 2,159 56,264
At 30th April 2023 10,067 171,657 22,062 203,786
Net book value
At 30th April 2023 6,633 158,805 13,585 179,023
At 30th April 2022 7,803 211,740 12,727 232,270

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 70,305 114,087
Other debtors 531 2,308
70,836 116,395

Kyle Bros. Funeral Directors Limited (Registered number: SC444946)

Notes to the Financial Statements - continued
for the year ended 30th April 2023

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 8,851 12,856
Hire purchase contracts 28,970 28,970
Trade creditors 11,127 20,382
Taxation and social security 10,163 16,568
Other creditors 85,981 84,340
145,092 163,116

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Hire purchase contracts 59,482 88,452

9. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft 8,851 -
Hire purchase contracts 88,452 117,422
97,303 117,422

The Royal Bank of Scotland holds security over the property by way of a floating charge.

Hire purchase contracts are secured against the assets to which they relate.