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REGISTERED NUMBER: SC397318 (Scotland)















Kyle Bakery Limited

Financial Statements For The Year Ended 31 May 2023






Kyle Bakery Limited (Registered number: SC397318)






Contents of the Financial Statements
For The Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kyle Bakery Limited

Company Information
For The Year Ended 31 May 2023







DIRECTOR: A W J McArthur





REGISTERED OFFICE: c/o Kyle Bakery Grocery Co
Dornoch Road
Bonar Bridge
Sutherland
IV24 3EB





REGISTERED NUMBER: SC397318 (Scotland)





ACCOUNTANTS: The Long Partnership
1st Floor
Robertson House
Shore Street
Inverness
Highland
IV1 1NF

Kyle Bakery Limited (Registered number: SC397318)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 42,800 24,851
42,800 24,851

CURRENT ASSETS
Stocks 32,983 29,005
Debtors 6 24,598 25,817
Cash at bank and in hand 780,941 727,129
838,522 781,951
CREDITORS
Amounts falling due within one year 7 45,587 49,496
NET CURRENT ASSETS 792,935 732,455
TOTAL ASSETS LESS CURRENT
LIABILITIES

835,735

757,306

PROVISIONS FOR LIABILITIES 8,132 4,722
NET ASSETS 827,603 752,584

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 827,593 752,574
827,603 752,584

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

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

Kyle Bakery Limited (Registered number: SC397318)

Balance Sheet - continued
31 May 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 February 2024 and were signed by:





A W J McArthur - Director


Kyle Bakery Limited (Registered number: SC397318)

Notes to the Financial Statements
For The Year Ended 31 May 2023

1. STATUTORY INFORMATION

Kyle Bakery 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 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 2011, is being amortised evenly over its estimated useful life of four 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 each asset over its estimated useful life.
Equipment - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.

Kyle Bakery Limited (Registered number: SC397318)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 271,000
AMORTISATION
At 1 June 2022
and 31 May 2023 271,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

5. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 June 2022 76,512
Additions 32,446
Disposals (35,658 )
At 31 May 2023 73,300
DEPRECIATION
At 1 June 2022 51,661
Charge for year 7,739
Eliminated on disposal (28,900 )
At 31 May 2023 30,500
NET BOOK VALUE
At 31 May 2023 42,800
At 31 May 2022 24,851

Kyle Bakery Limited (Registered number: SC397318)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2023

6. DEBTORS
31.5.23 31.5.22
£    £   
Amounts falling due within one year:
Trade debtors 4,069 3,153
Other debtors 17,310 19,445
21,379 22,598

Amounts falling due after more than one year:
Other debtors 3,219 3,219

Aggregate amounts 24,598 25,817

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors 16,717 22,797
Taxation and social security 21,100 17,209
Other creditors 7,770 9,490
45,587 49,496

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

31.5.23 31.5.22
£    £   
A W J McArthur
Balance outstanding at start of year 12,805 165,800
Amounts advanced 41,388 5,505
Amounts repaid (41,576 ) (158,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 12,617 12,805