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REGISTERED NUMBER: 02388128 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

CASTLE GROUP LIMITED

CASTLE GROUP LIMITED (REGISTERED NUMBER: 02388128)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


CASTLE GROUP LIMITED

COMPANY INFORMATION
for the year ended 30 June 2024







DIRECTOR: Mr S A Bull





REGISTERED OFFICE: Salter Road
Scarborough Business Park
Scarborough
North Yorkshire
YO11 3UZ





REGISTERED NUMBER: 02388128 (England and Wales)

CASTLE GROUP LIMITED (REGISTERED NUMBER: 02388128)

STATEMENT OF FINANCIAL POSITION
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 51,873 44,927
Investments 6 14,994 14,994
66,867 59,921

CURRENT ASSETS
Inventories 270,416 254,425
Debtors 7 160,400 215,318
Cash at bank and in hand 87,572 65,166
518,388 534,909
CREDITORS
Amounts falling due within one year 8 408,325 250,490
NET CURRENT ASSETS 110,063 284,419
TOTAL ASSETS LESS CURRENT
LIABILITIES

176,930

344,340

CREDITORS
Amounts falling due after more than one year 9 (21,233 ) (216,186 )

PROVISIONS FOR LIABILITIES (9,080 ) (3,892 )
NET ASSETS 146,617 124,262

CAPITAL AND RESERVES
Called up share capital 11 28 28
Retained earnings 146,589 124,234
SHAREHOLDERS' FUNDS 146,617 124,262

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 February 2025 and were signed by:



Mr S A Bull - Director


CASTLE GROUP LIMITED (REGISTERED NUMBER: 02388128)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2024


1. STATUTORY INFORMATION

Castle Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The company has a net asset position and a healthy bank position and the directors are satisfied that there are sufficient resources in place to continue operating for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Significant judgements and estimates
In preparing the financial statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.

Critical judgements in applying the company's policies
The management consider that no significant judgements have had to made in preparing these financial statements.

Critical accounting estimates and assumptions
Inventories: The management have assessed the allowances made for slow moving and obsolete inventories based on previous experience and all available knowledge and information. These allowances are recognised according to management's assessment of the likely usage of individual stock lines in the next financial year.

The directors do not consider that any other estimates and assumptions used in the preparation of these financial statements have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Revenue
Revenue represents goods and services supplied, excluding value added tax. It is recognised to the extent that the company has obtained the right to consideration through its performance and is measured at the fair value of the right to consideration.

Where payments are received from customers in advance of the right to consideration being earned, the amounts are recorded as deferred income and included within creditors falling due within one year.

Goodwill
Goodwill is initially measured at cost. After initial recognition, goodwill is measured at cost less any accumulated amortisation and any accumulated impairment losses. Goodwill, being the amount paid in connection with the acquisition of a business in 1996 has been fully amortised.

Property, plant and equipment
Items of property, plant and equipment are initially measured at cost. After initial recognition items of property, plant and equipment are measured at cost less any accumulated depreciation and any accumulated impairment losses.

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

Lab stock20% on a straight line basis
Plant and machinery15% on a reducing balance basis
Fixtures and fittings15% - 30% on a straight line basis
Motor vehicles25% on a reducing balance basis
Hire stock10% on a straight line basis

CASTLE GROUP LIMITED (REGISTERED NUMBER: 02388128)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


2. ACCOUNTING POLICIES - continued

Investments in subsidiaries
Investments in subsidiary undertakings are initially measured at cost. After initial recognition investments in subsidiary undertakings are measured at cost less any accumulated impairment losses.

Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
Payments to defined contribution pension schemes are charged as an expense in the period to which they relate.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade, other accounts receivable and payable and loans to related parties.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Debt instruments such as loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised costs using the effective interest method.

Government grants
Grants are recognised using the accruals model.

Grants in respect of fixed assets are released to the profit and loss account over the expected useful life of the assets

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 12 ) .

CASTLE GROUP LIMITED (REGISTERED NUMBER: 02388128)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 34,388
AMORTISATION
At 1 July 2023
and 30 June 2024 34,388
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and
Lab stock machinery fittings
£    £    £   
COST
At 1 July 2023 1,068 192,900 55,758
Additions - 160 20,064
Disposals - - -
At 30 June 2024 1,068 193,060 75,822
DEPRECIATION
At 1 July 2023 404 179,765 53,885
Charge for year 214 2,416 6,134
Eliminated on disposal - - -
At 30 June 2024 618 182,181 60,019
NET BOOK VALUE
At 30 June 2024 450 10,879 15,803
At 30 June 2023 664 13,135 1,873

CASTLE GROUP LIMITED (REGISTERED NUMBER: 02388128)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


5. PROPERTY, PLANT AND EQUIPMENT - continued

Motor Hire
vehicles stock Totals
£    £    £   
COST
At 1 July 2023 20,691 80,345 350,762
Additions - 965 21,189
Disposals - (2,236 ) (2,236 )
At 30 June 2024 20,691 79,074 369,715
DEPRECIATION
At 1 July 2023 20,630 51,151 305,835
Charge for year 16 5,463 14,243
Eliminated on disposal - (2,236 ) (2,236 )
At 30 June 2024 20,646 54,378 317,842
NET BOOK VALUE
At 30 June 2024 45 24,696 51,873
At 30 June 2023 61 29,194 44,927

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 14,994
NET BOOK VALUE
At 30 June 2024 14,994
At 30 June 2023 14,994

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 132,913 138,804
Amounts owed by group undertakings 12,628 52,117
Other debtors 14,859 24,397
160,400 215,318

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 14,008 27,642
Trade creditors 128,691 109,563
Amounts owed to group undertakings 154,726 15,000
Taxation and social security 21,817 22,985
Other creditors 89,083 75,300
408,325 250,490

CASTLE GROUP LIMITED (REGISTERED NUMBER: 02388128)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 15,178 213,061
Other creditors 6,055 3,125
21,233 216,186

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loan - 198,679

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
8 Ordinary A £1 8 8
10 Ordinary B £1 10 10
10 Ordinary C £1 10 10
28 28

12. CONTINGENT LIABILITIES

The company has given unlimited guarantees in relation to a bank loan owed by its parent company, by way of fixed and floating charges over all of the company assets and undertakings. The bank borrowings of the parent company subject to the guarantee at 30 June 2024 were £250,408 (2023 nil).

13. OTHER FINANCIAL COMMITMENTS

The company had total commitments at the balance sheet date of £6,358 (2023 - £150).

14. RELATED PARTY DISCLOSURES

The directors have made interest free loans to the company. At the year end the amount due to them was £4,139 (2023 - £1,689).

Interest free loans also exist between the company and other group companies. The amounts owed to other group companies at the year end was £154,726 (2023 - £15,000) while the amounts owed by other group companies at the year end was £12,628 (2023 - £52,117).

The company occupies premises owned by another group company. During the year the amount of rent payable was £29,000 (2023 - £26,000) and the amount owed at the year end was nil (2023 - nil).