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REGISTERED NUMBER: 08328574 (England and Wales)












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: Ms O B Paul
F Mirandah



Registered office: 20-22 Wenlock Road
Lodnon
N1 7GU



Registered number: 08328574 (England and Wales)



Accountants: GKP Partnership
Ground Floor
Chiswick Gate
598 -608 Chiswick High Road
London
W4 5RT



Bankers: Barclays Bank PLC 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.

Ms O B Paul
F Mirandah

Political donations and expenditure
Charitable donations (non-qualifying for tax relief purposes) were made during the year.

On behalf of the board:





F Mirandah - Director


6 February 2024

San Damiano Corporation Ltd (Registered number: 08328574)

Income Statement
for the Year Ended 30 June 2023

30.6.23 30.6.22
Notes £    £   

Revenue 2,752,616 2,430,970

Cost of sales (1,881,411 ) (1,611,539 )
Gross profit 871,205 819,431

Administrative expenses (242,195 ) (264,669 )
629,010 554,762

Other operating income 98,665 93,521
Operating profit 4 727,675 648,283


Interest payable and similar expenses (47,522 ) (6,167 )
Profit before taxation 680,153 642,116

Tax on profit 5 (129,675 ) (84,671 )
Profit for the financial year 550,478 557,445

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 550,478 557,445


Other comprehensive income - -
Total comprehensive income for the
year

550,478

557,445

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 7 101,606 73,961
Investments 8 50,000 50,000
Investment property 9 1,895,280 1,138,080
2,046,886 1,262,041

Current assets
Debtors 10 1,730,470 1,337,323
Cash at bank and in hand 94,376 409,474
1,824,846 1,746,797
3,871,732 3,008,838

Capital, reserves and liabilities

Capital and reserves
Called up share capital 50,000 50,000
Retained earnings 2,135,368 1,704,890
Shareholders' funds 2,185,368 1,754,890

Creditors 11 1,686,364 1,253,948
3,871,732 3,008,838

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.

San Damiano Corporation Ltd (Registered number: 08328574)

Statement of Financial Position - continued
30 June 2023


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 6 February 2024 and were signed on its behalf by:





F Mirandah - Director


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 50,000 1,280,445 1,330,445

Changes in equity
Dividends - (133,000 ) (133,000 )
Total comprehensive income - 557,445 557,445
Balance at 30 June 2022 50,000 1,704,890 1,754,890

Changes in equity
Dividends - (120,000 ) (120,000 )
Total comprehensive income - 550,478 550,478
Balance at 30 June 2023 50,000 2,135,368 2,185,368

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 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.

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

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 50 (2022 - 50 ) .

4. Operating profit

The operating profit is stated after charging:

30.6.23 30.6.22
£    £   
Depreciation - owned assets 23,432 11,432

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 129,675 84,671
Tax on profit 129,675 84,671

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 1,660 106,008 11,203 118,871
Additions - 74,815 - 74,815
Disposals - (52,910 ) - (52,910 )
At 30 June 2023 1,660 127,913 11,203 140,776
Depreciation
At 1 July 2022 1,660 32,047 11,203 44,910
Charge for year - 23,432 - 23,432
Eliminated on disposal - (29,172 ) - (29,172 )
At 30 June 2023 1,660 26,307 11,203 39,170
Net book value
At 30 June 2023 - 101,606 - 101,606
At 30 June 2022 - 73,961 - 73,961

8. Fixed asset investments
Interest
in
associate
£   
Cost
At 1 July 2022
and 30 June 2023 50,000
Net book value
At 30 June 2023 50,000
At 30 June 2022 50,000

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 1,138,080
Additions 757,200
At 30 June 2023 1,895,280
Net book value
At 30 June 2023 1,895,280
At 30 June 2022 1,138,080

10. Debtors
30.6.23 30.6.22
£    £   
Amounts falling due within one year:
Trade debtors 61,498 138,056
Corporation tax recoverable 22,009 42,313
Amounts owed by associates 1,396,715 954,829
Other debtors 1,846 8,180
Staff Loan 39,946 46,633
Directors' current accounts 101,479 62,474
1,623,493 1,252,485

Amounts falling due after more than one year:
Prepayments and accrued income 106,977 84,838

Aggregate amounts 1,730,470 1,337,323

11. Creditors
30.6.23 30.6.22
£    £   
Amounts falling due within one year:
Bank loans and overdrafts (see note 12) 9,921 14,762
Trade creditors 2 2
Tax 293,564 230,287
Social security and other taxes 91,661 73,594
Pension Fund 5,228 366
Wages underpayment - (1,189 )
Other creditors 13,839 12,245
Directors' current accounts 60,000 -
Accrued expenses 12,628 12,319
486,843 342,386

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) 1,127,824 862,126
Finance leases 66,669 49,436
Net Wages 5,028 -
1,199,521 911,562

Aggregate amounts 1,686,364 1,253,948

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 9,921 14,762

Amounts falling due between one and two years:
Bank loans - 1-2 years 256,354 331,250
Mortgage 871,470 530,876
1,127,824 862,126