Capital Steel Group Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC342529 (Scotland)

Unaudited Financial Statements for the Year Ended 30 June 2019

for

Capital Steel Group Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G Watson

T R Balk

P McLoughlin

SECRETARY:

G Watson

REGISTERED OFFICE:

11 Drakemyre

Dalry

KA24 5JD

REGISTERED NUMBER:

SC342529 (Scotland)

ACCOUNTANTS:

McDougall Johnstone

280 St Vincent Street

Glasgow

G2 5RL

FIXED ASSETS

Tangible assets

3

121,110

364,785

Investments

4

1,000

1,000

Investment property

5

243,675

-

365,785

365,785

CURRENT ASSETS

Debtors

367,271

370,221

Cash at bank

22,773

2,728

390,044

372,949

CREDITORS

Amounts falling due within one year

(5,228

)

(1,858

)

NET CURRENT ASSETS

384,816

371,091

TOTAL ASSETS LESS CURRENT LIABILITIES

750,601

736,876

CAPITAL AND RESERVES

Called up share capital

825

825

Retained earnings

749,776

736,051

750,601

736,876

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 24 March 2020 and were signed on its behalf by:

G Watson - Director

1.	STATUTORY INFORMATION

Capital Steel Group 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is

recognised in profit or loss.

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.

3.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2018

364,785

Disposals

(243,675

)

At 30 June 2019

121,110

NET BOOK VALUE

At 30 June 2019

121,110

At 30 June 2018

364,785

4.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 July 2018

and 30 June 2019

1,000

NET BOOK VALUE

At 30 June 2019

1,000

At 30 June 2018

1,000

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

243,675

At 30 June 2019

243,675

NET BOOK VALUE

At 30 June 2019

243,675

6.	RELATED PARTY DISCLOSURES

At the year end there is a balance of £148,329 (£31,943 - 2018) due to Capital Steel Limited, a company of which Gary

Watson is a shareholder. The loan is interest free and has no specific repayment date.

At the year end there is a balance of £517,250 (£517,250 - 2018) owed from Drakemyre Properties Limited, a company of

which Gary Watson is a shareholder. The loan is interest free and has no specific repayment date.