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

REGISTERED NUMBER: SC342529 (Scotland)

Unaudited Financial Statements for the Year Ended 30 June 2021

for

Capital Steel Group Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

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

4

397,152

121,110

Investments

5

1,000

1,000

Investment property

6

243,675

243,675

641,827

365,785

CURRENT ASSETS

Debtors

62,167

348,865

Cash at bank

60,480

50,921

122,647

399,786

CREDITORS

Amounts falling due within one year

(4,502

)

(6,974

)

NET CURRENT ASSETS

118,145

392,812

TOTAL ASSETS LESS CURRENT LIABILITIES

759,972

758,597

CAPITAL AND RESERVES

Called up share capital

825

825

Retained earnings

759,147

757,772

759,972

758,597

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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 2021 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 and authorised for issue on 13 January 2022 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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2020

121,110

Additions

284,183

At 30 June 2021

405,293

DEPRECIATION

Charge for year

8,141

At 30 June 2021

8,141

NET BOOK VALUE

At 30 June 2021

397,152

At 30 June 2020

121,110

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 July 2020

and 30 June 2021

1,000

NET BOOK VALUE

At 30 June 2021

1,000

At 30 June 2020

1,000

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2020

and 30 June 2021

243,675

NET BOOK VALUE

At 30 June 2021

243,675

At 30 June 2020

243,675

7.	RELATED PARTY DISCLOSURES

At the year end there is a balance of £470,601 (2020: £168,384) due to Capital Steel Limited, a company of which Gary Watson is a shareholder.

At the year end there is a balance of £532,768 (2020: £517,250) owed from Drakemyre Properties Limited, a company of which Gary Watson is a shareholder.

8.	ULTIMATE CONTROLLING PARTY

The controlling party is G Watson.