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REGISTERED NUMBER: SC563548 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Kealey and Byrne Limited

Kealey and Byrne Limited (Registered number: SC563548)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Kealey and Byrne Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: S M Kealey
P M H Byrne





REGISTERED OFFICE: 6 Logie Mill
Edinburgh
EH7 4HG





REGISTERED NUMBER: SC563548 (Scotland)





ACCOUNTANTS: A H & Co Ltd
Chartered Accountants
6 Logie Mill
Edinburgh
Lothian
EH7 4HG

Kealey and Byrne Limited (Registered number: SC563548)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,091 531

CURRENT ASSETS
Debtors 5 442 4,078
Cash at bank 61,391 44,337
61,833 48,415
CREDITORS
Amounts falling due within one year 6 10,821 5,007
NET CURRENT ASSETS 51,012 43,408
TOTAL ASSETS LESS CURRENT LIABILITIES 52,103 43,939

PROVISIONS FOR LIABILITIES 7 322 101
NET ASSETS 51,781 43,838

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 51,681 43,738
SHAREHOLDERS' FUNDS 51,781 43,838

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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by:





P M H Byrne - Director


Kealey and Byrne Limited (Registered number: SC563548)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Kealey and Byrne 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 recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets
Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery- 20% per annum
Fixtures and fittings- 20% per annum
Computer equipment- 20% per annum

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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.

Kealey and Byrne Limited (Registered number: SC563548)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

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.

Provisions
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 892 199 1,277 2,368
Additions - - 1,254 1,254
At 31 March 2024 892 199 2,531 3,622
DEPRECIATION
At 1 April 2023 713 153 971 1,837
Charge for year 179 21 494 694
At 31 March 2024 892 174 1,465 2,531
NET BOOK VALUE
At 31 March 2024 - 25 1,066 1,091
At 31 March 2023 179 46 306 531

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors - 962
Other debtors 442 3,116
442 4,078

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors - 249
Taxation and social security 4,598 2,551
Other creditors 6,223 2,207
10,821 5,007

Kealey and Byrne Limited (Registered number: SC563548)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 322 101

Deferred
tax
£   
Balance at 1 April 2023 101
Provided during year 221
Balance at 31 March 2024 322

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £10,800 were paid to the directors .

Dividends of £1,200 were paid out to a shareholder of the company (2023: NIL).






Related Party




Type of transaction



Amount
31.3.24
Balance
receivable
/(payable) to
related party
as at 31.3.23



Amount
31.3.23
Balance
receivable
/(payable) to
related party as
at 31.3.22
£ £ £ £

Entity A Profit share 20,987 - 15,240 -
Drawings 28,000 (4,147) 21,000 2,867


Kealey and Byrne Limited has a partnership share in entity A.

10. ULTIMATE CONTROLLING PARTY

The controlling party is P M H Byrne.