YUILL & KYLE LTD.

Company Registration Number:
SC352604 (Scotland)

Unaudited statutory accounts for the year ended 30 April 2024

Period of accounts

Start date: 1 May 2023

End date: 30 April 2024

YUILL & KYLE LTD.

Contents of the Financial Statements

for the Period Ended 30 April 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

YUILL & KYLE LTD.

Directors' report period ended 30 April 2024

The directors present their report with the financial statements of the company for the period ended 30 April 2024

Directors

The directors shown below have held office during the whole of the period from
1 May 2023 to 30 April 2024

Neil Andrew Findlay Kennedy
Leon Breakey
Denise Loney


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
7 January 2025

And signed on behalf of the board by:
Name: Denise Loney
Status: Director

YUILL & KYLE LTD.

Profit And Loss Account

for the Period Ended 30 April 2024

2024 2023


£

£
Turnover: 1,143,866 1,056,919
Cost of sales: ( 919,440 ) ( 890,404 )
Gross profit(or loss): 224,426 166,515
Operating profit(or loss): 224,426 166,515
Interest receivable and similar income: 860 197
Interest payable and similar charges: ( 1,064 ) ( 8,065 )
Profit(or loss) before tax: 224,222 158,647
Tax: ( 51,336 ) ( 27,888 )
Profit(or loss) for the financial year: 172,886 130,759

YUILL & KYLE LTD.

Balance sheet

As at 30 April 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 8,127 14,870
Total fixed assets: 8,127 14,870
Current assets
Debtors: 4 378,233 310,146
Cash at bank and in hand: 52,188 70,853
Total current assets: 430,421 380,999
Creditors: amounts falling due within one year: 5 ( 338,480 ) ( 468,685 )
Net current assets (liabilities): 91,941 (87,686)
Total assets less current liabilities: 100,068 ( 72,816)
Total net assets (liabilities): 100,068 (72,816)
Capital and reserves
Called up share capital: 4 6
Profit and loss account: 100,064 (72,822 )
Total Shareholders' funds: 100,068 (72,816)

The notes form part of these financial statements

YUILL & KYLE LTD.

Balance sheet statements

For the year ending 30 April 2024 the company was entitled to exemption 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 directors acknowledge their 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.

This report was approved by the board of directors on 7 January 2025
and signed on behalf of the board by:

Name: Denise Loney
Status: Director

The notes form part of these financial statements

YUILL & KYLE LTD.

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or rendered. Turnover represents net invoiced sales of services excluding value added tax, from the company's principal activity being that of solicitors and notaries. Unbilled work is recognised as turnover in accordance with FRS 102 and is included within debtors as amounts recoverable on contracts.

    Tangible fixed assets depreciation policy

    Depreciation of fixed assets is calculated to write off the cost or valuation less any residual value over their estimated useful lives as follows: Plant and machinery etc 33.33% straight line

    Other accounting policies

    Statutory information Yuill & Kyle Limited is a private company, limited by shares, registered in Scotland. The company's registered number is SC352604 and its registered office is 10th Floor, Capella Building, 60 York Street, Glasgow, G2 8JX. 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. Monetary amounts in the accounts are presented in pound sterling and rounded to the nearest whole number. Going concern The company has adequate existing bank facilities to meet its day to day working capital requirements. The company expects to be able to operate within these facilities for the whole of the foreseeable future. These facilities are renewed annually and are not guaranteed for the period covered by the going concern review. The Directors are not aware, however, of any circumstances that may adversely affect the renewal of these facilities. At year end, £42,641 was due to the parent entity, Morton Fraser MacRoberts LLP. The Directors acknowledge that Yuill & Kyle has continued financial support from the parent and have obtained confirmation from the Members of Morton Fraser MacRoberts LLP (formerly MacRoberts LLP as per note 11), that it will continue to support the company. Accordingly, the directors believe it is appropriate to prepare the financial statements on the going concern basis. Goodwill Goodwill, being the amount paid in connection with the acquisition of a business in 2009, was being amortised evenly over its estimated useful life of- ten years, being the period, the Directors believed that the acquired business would generate economic benefits. Financial instruments Working capital Trade debtors, amounts recoverable on contracts and other debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence that the asset is impaired. Cash and cash equivalents in the balance sheet comprise cash on hand and cash at bank with a short term of maturity, being twelve months or less, from the opening of the deposit or similar account. In the balance sheet bank overdrafts are shown within creditors. Tradecreditorsandothercreditorsareallrecognisedwherethecompanyhasapresentobligationresultingfromapast event and are recognised at the settlement amount due after allowing for any trade discounts due. Loans Loans, are measured initially at fair value, net of transactions costs, and are measured subsequently at amortised cost using the effective interest method.

YUILL & KYLE LTD.

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 16 16

YUILL & KYLE LTD.

Notes to the Financial Statements

for the Period Ended 30 April 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 May 2023 95,977 95,977
Additions
Disposals
Revaluations
Transfers
At 30 April 2024 95,977 95,977
Depreciation
At 1 May 2023 81,107 81,107
Charge for year 6,743 6,743
On disposals
Other adjustments
At 30 April 2024 87,850 87,850
Net book value
At 30 April 2024 8,127 8,127
At 30 April 2023 14,870 14,870

YUILL & KYLE LTD.

Notes to the Financial Statements

for the Period Ended 30 April 2024

4. Debtors

2024 2023
£ £
Trade debtors 353,186 284,307
Prepayments and accrued income 2,770 5,253
Other debtors 22,277 20,586
Total 378,233 310,146

YUILL & KYLE LTD.

Notes to the Financial Statements

for the Period Ended 30 April 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 42,641 221,062
Trade creditors 188,594 139,714
Taxation and social security 95,110 95,727
Other creditors 12,135 12,182
Total 338,480 468,685