Company Registration No. SC707355 (Scotland)
PHIL KYLE LIMITED
Unaudited accounts
for the year ended 31 August 2024
PHIL KYLE LIMITED
Unaudited accounts
Contents
PHIL KYLE LIMITED
Company Information
for the year ended 31 August 2024
Company Number
SC707355 (Scotland)
Registered Office
21 BROADSTRAIK CRESCENT ELRICK
WESTHILL
AB32 6JR
UNITED KINGDOM
Accountants
A2Z Accounting Solutions Limited
26 Grandholm Grove
Aberdeen
AB22 8AX
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
PHIL KYLE LIMITED
for the year ended 31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
PHIL KYLE LIMITED for the year ended
31 August 2024 as set out on pages
5 -
7 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
A2Z Accounting Solutions Limited
Chartered Certified Accountants
26 Grandholm Grove
Aberdeen
AB22 8AX
5 November 2024
PHIL KYLE LIMITED
Statement of financial position
as at 31 August 2024
Tangible assets
8,758
7,199
Cash at bank and in hand
7,203
4,703
Creditors: amounts falling due within one year
(15,934)
(12,209)
Net current liabilities
(8,731)
(5,701)
Total assets less current liabilities
27
1,498
Provisions for liabilities
Deferred tax
(1,665)
(1,368)
Net (liabilities)/assets
(1,638)
130
Called up share capital
10
10
Profit and loss account
(1,648)
120
Shareholders' funds
(1,638)
130
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 5 November 2024 and were signed on its behalf by
Philip Kyle
Director
Company Registration No. SC707355
PHIL KYLE LIMITED
Notes to the Accounts
for the year ended 31 August 2024
PHIL KYLE LIMITED is a private company, limited by shares, registered in Scotland, registration number SC707355. The registered office is 21 BROADSTRAIK CRESCENT ELRICK, WESTHILL, AB32 6JR, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 August 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 September 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
33% RB
Other tangible fixed assets
33% RB
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
PHIL KYLE LIMITED
Notes to the Accounts
for the year ended 31 August 2024
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2023
-
7,212
3,513
10,725
Additions
399
1,854
3,723
5,976
At 31 August 2024
399
9,066
7,236
16,701
At 1 September 2023
-
3,434
92
3,526
Charge for the year
89
2,825
1,503
4,417
At 31 August 2024
89
6,259
1,595
7,943
At 31 August 2024
310
2,807
5,641
8,758
At 31 August 2023
-
3,778
3,421
7,199
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
7,521
9,976
Loans from directors
911
(2,724)
7
Average number of employees
During the year the average number of employees was 2 (2023: 2).