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REGISTERED NUMBER: SC275258 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Capital Steel Limited

Capital Steel Limited (Registered number: SC275258)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Capital Steel Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: T R Balk
G Watson
P McLoughlin





SECRETARY: G Watson





REGISTERED OFFICE: 11 Drakemyre
Dalry
KA24 5JD





REGISTERED NUMBER: SC275258 (Scotland)





ACCOUNTANTS: McDougall Johnstone
280a St Vincent Street
Glasgow
G2 5RL

Capital Steel Limited (Registered number: SC275258)

Abridged Balance Sheet
30 June 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 31,740 36,274
Tangible assets 5 201,224 188,336
232,964 224,610

CURRENT ASSETS
Debtors 1,500,923 1,082,828
Cash at bank and in hand 476,577 571,273
1,977,500 1,654,101
CREDITORS
Amounts falling due within one year (100,509 ) (171,203 )
NET CURRENT ASSETS 1,876,991 1,482,898
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,109,955

1,707,508

PROVISIONS FOR LIABILITIES (38,048 ) (33,926 )
NET ASSETS 2,071,907 1,673,582

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 2,070,907 1,672,582
2,071,907 1,673,582

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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.

Capital Steel Limited (Registered number: SC275258)

Abridged Balance Sheet - continued
30 June 2023


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 2023 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 29 March 2024 and were signed on its behalf by:





G Watson - Director


Capital Steel Limited (Registered number: SC275258)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Capital Steel 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of twenty five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Capital Steel Limited (Registered number: SC275258)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2022
and 30 June 2023 113,362
AMORTISATION
At 1 July 2022 77,088
Amortisation for year 4,534
At 30 June 2023 81,622
NET BOOK VALUE

At 30 June 2023 31,740
At 30 June 2022 36,274

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2022 630,933
Additions 51,145
At 30 June 2023 682,078
DEPRECIATION
At 1 July 2022 442,597
Charge for year 38,257
At 30 June 2023 480,854
NET BOOK VALUE
At 30 June 2023 201,224
At 30 June 2022 188,336

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end there is a balance due to Director G Watson of £5,864 (2022: £5,864)

7. RELATED PARTY DISCLOSURES

At the year end there is a balance of £187,716 (2022: £162,198) owed from Capital Business Park Limited, a company of which Gary Watson is a director and has a controlling interest.

At the year end there is a balance of £50,848 (2022: £49,367) owed from Drakemyre Properties Limited, a company of which Gary Watson is a director and has a controlling interest.

During the year the company paid Rhino Steel Limited for services, a company owned by Terry Balk and Paul McLaughlin, Directors of Capital Steel Limited, amounting to £325,716 (2022: £535,735).

Capital Steel Limited (Registered number: SC275258)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

8. ULTIMATE CONTROLLING PARTY

Capital Steel Limited is 100% owned by Capital Steel Group Limited.
The ultimate controlling party of Capital Steel Group Limited is Gary Watson.