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REGISTERED NUMBER: NI045962 (Northern Ireland)













KYLE RESTAURANTS LTD
T/A
SUBWAY OMAGH, ENNISKILLEN & CAMPSIE

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






KYLE RESTAURANTS LTD (REGISTERED NUMBER: NI045962)
T/A SUBWAY OMAGH, ENNISKILLEN & CAMPSIE






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


KYLE RESTAURANTS LTD
T/A SUBWAY OMAGH, ENNISKILLEN & CAMPSIE

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mrs Elma Kyle



SECRETARY: Mr Nigel Kyle



REGISTERED OFFICE: Unit 18
Main Street
OMAGH
Co. Tyrone
BT78 1BA



REGISTERED NUMBER: NI045962 (Northern Ireland)



ACCOUNTANTS: McAleer Jackson Ltd
Chartered Accountants & Chartered Tax Advisers
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE



BANKERS: Ulster Bank Limited
14 High Street
OMAGH
Co. Tyrone
BT78 1BJ



SOLICITORS: McConnell & Fyffe
21 Church Street
OMAGH
Co. Tyrone
BT78 1DG

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
KYLE RESTAURANTS LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.


In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's director, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's director that we have done so, and state those matters that we have agreed to state to her in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's director, for our work or for this report.

We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the Balance Sheet as at 31 March 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.






McAleer Jackson Ltd
Chartered Accountants & Chartered Tax Advisers
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE


17 September 2024

KYLE RESTAURANTS LTD (REGISTERED NUMBER: NI045962)
T/A SUBWAY OMAGH, ENNISKILLEN & CAMPSIE

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 142,794 162,877
142,794 162,877

CURRENT ASSETS
Stocks 13,862 14,100
Debtors 6 5,102 4,431
Cash at bank and in hand 381,978 289,785
400,942 308,316
CREDITORS
Amounts falling due within one year 7 235,675 147,994
NET CURRENT ASSETS 165,267 160,322
TOTAL ASSETS LESS CURRENT
LIABILITIES

308,061

323,199

CREDITORS
Amounts falling due after more than one year 8 (12,189 ) (22,435 )

PROVISIONS FOR LIABILITIES (24,783 ) (29,620 )
NET ASSETS 271,089 271,144

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 271,087 271,142
SHAREHOLDERS' FUNDS 271,089 271,144

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 RESTAURANTS LTD (REGISTERED NUMBER: NI045962)
T/A SUBWAY OMAGH, ENNISKILLEN & CAMPSIE

BALANCE SHEET - continued
31 MARCH 2024


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 17 September 2024 and were signed by:





Mrs Elma Kyle - Director


KYLE RESTAURANTS LTD (REGISTERED NUMBER: NI045962)
T/A SUBWAY OMAGH, ENNISKILLEN & CAMPSIE

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Kyle Restaurants Ltd is a private company, limited by shares , registered in Northern Ireland. 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.

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.

Franchises are being amortised evenly over their estimated useful life of ten years.

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.
Leasehold property improvement - 2% straight line
Equipment & fittings - 10% straight line

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 RESTAURANTS LTD (REGISTERED NUMBER: NI045962)
T/A SUBWAY OMAGH, ENNISKILLEN & CAMPSIE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2023 - 42 ) .

4. INTANGIBLE FIXED ASSETS
Franchises
£   
COST
At 1 April 2023
and 31 March 2024 17,357
AMORTISATION
At 1 April 2023
and 31 March 2024 17,357
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

KYLE RESTAURANTS LTD (REGISTERED NUMBER: NI045962)
T/A SUBWAY OMAGH, ENNISKILLEN & CAMPSIE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Leasehold
property Equipment
improvement & fittings Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 67,179 506,364 573,543
DEPRECIATION
At 1 April 2023 18,844 391,822 410,666
Charge for year 1,406 18,677 20,083
At 31 March 2024 20,250 410,499 430,749
NET BOOK VALUE
At 31 March 2024 46,929 95,865 142,794
At 31 March 2023 48,335 114,542 162,877

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 5,102 4,431

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,205 9,952
Trade creditors 81,171 46,800
Taxation and social security 66,335 40,026
Other creditors 77,964 51,216
235,675 147,994

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 12,189 22,435

KYLE RESTAURANTS LTD (REGISTERED NUMBER: NI045962)
T/A SUBWAY OMAGH, ENNISKILLEN & CAMPSIE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. RELATED PARTY DISCLOSURES

At the year end the company had a loan amounting to £3,044 from a member of key management personnel. (£20,853 at 01.04.2023).

There is no repayment date for this loan and interest is not currently being charged.

The loan is presented within creditors: amounts falling due within one year.




NEK Restaurants Ltd
Shareholders in this company are the same as Kyle Restaurants Ltd.

2024 2023
£ £
Amount due to related party at the balance sheet date 51,667 5,311