REGISTERED NUMBER: |
Report of the Directors and |
Financial Statements |
for the Year Ended 30 June 2023 |
for |
San Damiano Corporation Ltd |
REGISTERED NUMBER: |
Report of the Directors and |
Financial Statements |
for the Year Ended 30 June 2023 |
for |
San Damiano Corporation Ltd |
San Damiano Corporation Ltd (Registered number: 08328574) |
Contents of the Financial Statements |
for the Year Ended 30 June 2023 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Income Statement | 3 |
Other Comprehensive Income | 4 |
Statement of Financial Position | 5 |
Statement of Changes in Equity | 7 |
Notes to the Financial Statements | 8 |
San Damiano Corporation Ltd |
Company Information |
for the Year Ended 30 June 2023 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
Ground Floor |
Chiswick Gate |
598 -608 Chiswick High Road |
London |
W4 5RT |
Bankers: | HSBC Bank PLC |
19 North Street | 168 High Steet |
Guildford | Guildford |
Surrey | Surrey |
GU1 4AG | GU1 3YU |
San Damiano Corporation Ltd (Registered number: 08328574) |
Report of the Directors |
for the Year Ended 30 June 2023 |
The directors present their report with the financial statements of the company for the year ended 30 June 2023. |
Principal activity |
The principal activity of the company in the year under review was that of Provision of nursing and domiciliary care services. |
Dividends |
The total distribution for the year ended 30th June 2023 was £120,000. |
Directors |
The directors shown below have held office during the whole of the period from 1 July 2022 to the date of this report. |
Political donations and expenditure |
Charitable donations (non-qualifying for tax relief purposes) were made during the year. |
On behalf of the board: |
San Damiano Corporation Ltd (Registered number: 08328574) |
Income Statement |
for the Year Ended 30 June 2023 |
30.6.23 | 30.6.22 |
Notes | £ | £ |
Revenue |
Cost of sales | ( |
) | ( |
) |
Gross profit |
Administrative expenses | ( |
) | ( |
) |
629,010 | 554,762 |
Other operating income |
Operating profit | 4 |
Interest payable and similar expenses | ( |
) | ( |
) |
Profit before taxation |
Tax on profit | 5 | ( |
) | ( |
) |
Profit for the financial year |
San Damiano Corporation Ltd (Registered number: 08328574) |
Other Comprehensive Income |
for the Year Ended 30 June 2023 |
30.6.23 | 30.6.22 |
Notes | £ | £ |
Profit for the year |
Other comprehensive income | - | - |
Total comprehensive income for the year |
San Damiano Corporation Ltd (Registered number: 08328574) |
Statement of Financial Position |
30 June 2023 |
30.6.23 | 30.6.22 |
Notes | £ | £ |
Assets |
Fixed assets |
Property, plant and equipment | 7 |
Investments | 8 |
Investment property | 9 |
Current assets |
Debtors | 10 |
Cash at bank and in hand |
3,871,732 | 3,008,838 |
Capital, reserves and liabilities |
Capital and reserves |
Called up share capital |
Retained earnings |
Shareholders' funds |
Creditors | 11 |
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. |
San Damiano Corporation Ltd (Registered number: 08328574) |
Statement of Financial Position - continued |
30 June 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
San Damiano Corporation Ltd (Registered number: 08328574) |
Statement of Changes in Equity |
for the Year Ended 30 June 2023 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 July 2021 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 30 June 2022 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 30 June 2023 |
San Damiano Corporation Ltd (Registered number: 08328574) |
Notes to the Financial Statements |
for the Year Ended 30 June 2023 |
1. | Statutory information |
San Damiano Corporation Ltd is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Investments in associates |
Investments in associate 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. |
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. |
Depreciation |
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows: |
Asset Class Depreciation method and rate |
Motor Vehicles: 33% straight line |
Fixtures, fittings and equipment: 33% straight line |
San Damiano Corporation Ltd (Registered number: 08328574) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
2. | Accounting policies - continued |
Leases |
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. |
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation |
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability. |
Gross |
£ |
One year 10,310 |
Two to five years 36,880 |
More than five years - |
Less financial charges allocated to future periods (2,504) |
_______ |
44,687 |
_______ |
Going concern |
The directors deem it appropriate to apply the going concern basis for the preparation of these Financial Statements. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Operating profit |
The operating profit is stated after charging: |
30.6.23 | 30.6.22 |
£ | £ |
Depreciation - owned assets |
5. | Taxation |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
30.6.23 | 30.6.22 |
£ | £ |
Current tax: |
UK corporation tax |
Tax on profit |
San Damiano Corporation Ltd (Registered number: 08328574) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
6. | Dividends |
The total distribution for the year ended 30th June 2023 was £120,000 |
7. | Property, plant and equipment |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
Cost |
At 1 July 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 June 2023 |
Depreciation |
At 1 July 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 June 2023 |
Net book value |
At 30 June 2023 |
At 30 June 2022 |
8. | Fixed asset investments |
Interest |
in |
associate |
£ |
Cost |
At 1 July 2022 |
and 30 June 2023 |
Net book value |
At 30 June 2023 |
At 30 June 2022 |
San Damiano Corporation Ltd (Registered number: 08328574) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
9. | Investment property |
Total |
£ |
Fair value |
At 1 July 2022 |
Additions |
At 30 June 2023 |
Net book value |
At 30 June 2023 |
At 30 June 2022 |
10. | Debtors |
30.6.23 | 30.6.22 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Corporation tax recoverable | 22,009 | 42,313 |
Amounts owed by associates |
Other debtors |
Staff Loan | 39,946 | 46,633 |
Directors' current accounts | 101,479 | 62,474 |
Amounts falling due after more than one year: |
Prepayments and accrued income |
Aggregate amounts |
11. | Creditors |
30.6.23 | 30.6.22 |
£ | £ |
Amounts falling due within one year: |
Bank loans and overdrafts (see note 12) |
Trade creditors |
Tax |
Social security and other taxes |
Pension Fund | 5,228 | 366 |
Wages underpayment | - | (1,189 | ) |
Other creditors |
Directors' current accounts | 60,000 | - |
Accrued expenses |
San Damiano Corporation Ltd (Registered number: 08328574) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
11. | Creditors - continued |
30.6.23 | 30.6.22 |
£ | £ |
Amounts falling due after more than one year: |
Bank loans (see note 12) |
Finance leases |
Net Wages | 5,028 | - |
Aggregate amounts |
Amounts falling due in more than five years: |
Repayable by instalments |
Finance leases | 66,669 | 49,436 |
12. | Loans |
An analysis of the maturity of loans is given below: |
30.6.23 | 30.6.22 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Mortgage | 871,470 | 530,876 |