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REGISTERED NUMBER: SC095643 (Scotland)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

KYLE FINANCE LIMITED

KYLE FINANCE LIMITED (REGISTERED NUMBER: SC095643)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KYLE FINANCE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: K Steven
P K Steven





REGISTERED OFFICE: 570 Pollokshaws Road
Glasgow
G41 2PF





REGISTERED NUMBER: SC095643 (Scotland)





ACCOUNTANTS: McLay, McAlister & McGibbon (Ayr) Ltd
Arran House
15D Skye Road
Prestwick
Ayrshire
KA9 2TA

KYLE FINANCE LIMITED (REGISTERED NUMBER: SC095643)

BALANCE SHEET
30 JUNE 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,417 1,667

CURRENT ASSETS
Debtors 5 106,786 102,464
Cash at bank 6,704 10,492
113,490 112,956
CREDITORS
Amounts falling due within one year 6 10,068 17,477
NET CURRENT ASSETS 103,422 95,479
TOTAL ASSETS LESS CURRENT
LIABILITIES

104,839

97,146

CAPITAL AND RESERVES
Called up share capital 4,000 4,000
Retained earnings 100,839 93,146
SHAREHOLDERS' FUNDS 104,839 97,146

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

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

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2024 and were signed on its behalf by:





K Steven - Director


KYLE FINANCE LIMITED (REGISTERED NUMBER: SC095643)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Kyle Finance 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Following the COVID-19 pandemic, the directors have undertaken a review of the trading forecasts and cashflows of the company taking account of the strong working capital position and business support measures provided by the UK government.

After making enquiries, the directors believe that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly the accounts continue to be prepared on the going concern basis.

Turnover
Turnover represents total finance lease rentals receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

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.

Finance lease receivables
Amounts receivable under finance leases are included in debtors at the amount of net investment in the lease.
Finance lease income is allocated to accounting periods to give a constant periodic rate of return on the net cash investment.

KYLE FINANCE LIMITED (REGISTERED NUMBER: SC095643)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022
and 30 June 2023 3,210
DEPRECIATION
At 1 July 2022 1,543
Charge for year 250
At 30 June 2023 1,793
NET BOOK VALUE
At 30 June 2023 1,417
At 30 June 2022 1,667

5. DEBTORS
30.6.23 30.6.22
£    £   
Amounts falling due within one year:
Finance lease receivables 41,009 37,498
Amounts owed by group undertakings 31,746 29,960
Deferred tax 11,970 10,743
Prepayments 5,634 8,014
90,359 86,215

Amounts falling due after more than one year:
Finance lease receivables 16,427 16,249

Aggregate amounts 106,786 102,464

The cost of assets acquired by the company for the purpose of letting under finance leases amounted to £54,910 (2022 - £63,245).

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 157 7,587
Taxation and social security 4,426 5,105
Other creditors 5,485 4,785
10,068 17,477

KYLE FINANCE LIMITED (REGISTERED NUMBER: SC095643)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

7. RELATED PARTY TRANSACTIONS

The cost of assets acquired by the company for the purpose of letting under finance leases relates entirely to purchases from parent company ACR EPOS Systems Ltd. A loan balance of £31,746 due from ACR EPOS Systems Ltd is interest free.