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REGISTERED NUMBER: 02348134 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

ST. ANNE'S MOTOR REPAIRS LIMITED

ST. ANNE'S MOTOR REPAIRS LIMITED (REGISTERED NUMBER: 02348134)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ST. ANNE'S MOTOR REPAIRS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr D Damianos
Mrs T Damianos





REGISTERED OFFICE: 35 Great North Road
Brookmans Park
Hatfield
Hertfordshire
AL9 6LB





REGISTERED NUMBER: 02348134 (England and Wales)





ACCOUNTANTS: EA
Chartered Accountants
869 High Road
London
N12 8QA

ST. ANNE'S MOTOR REPAIRS LIMITED (REGISTERED NUMBER: 02348134)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,672,318 1,672,318

CURRENT ASSETS
Debtors 5 47,639 27,435
Cash at bank 52,306 46,047
99,945 73,482
CREDITORS
Amounts falling due within one year 6 15,283 23,744
NET CURRENT ASSETS 84,662 49,738
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,756,980

1,722,056

PROVISIONS FOR LIABILITIES 350,500 350,500
NET ASSETS 1,406,480 1,371,556

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Non distributable reserves 1,051,313 1,051,313
Retained earnings 354,167 319,243
SHAREHOLDERS' FUNDS 1,406,480 1,371,556

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

ST. ANNE'S MOTOR REPAIRS LIMITED (REGISTERED NUMBER: 02348134)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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 Board of Directors and authorised for issue on 13 August 2024 and were signed on its behalf by:




Mr D Damianos - Director



Mrs T Damianos - Director


ST. ANNE'S MOTOR REPAIRS LIMITED (REGISTERED NUMBER: 02348134)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

St. Anne's Motor Repairs 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.

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 as modified by the revaluation of certain assets.

TURNOVER
Turnover represents net invoiced rent receivable, excluding value added tax.

INVESTMENT PROPERTY
Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred Taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102. The directors consider that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt FRS 102 in order to give a true and fair view. If this departure from the Act had not been made, the profit for the financial year would have been decreased by the amount of depreciation.

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.

3. EMPLOYEES AND DIRECTORS

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

ST. ANNE'S MOTOR REPAIRS LIMITED (REGISTERED NUMBER: 02348134)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,672,318
NET BOOK VALUE
At 31 March 2024 1,672,318
At 31 March 2023 1,672,318

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 1,401,813
Cost 270,505
1,672,318

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 270,505 270,505

Investment property was valued on a fair value basis basis on 31 March 2024 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 15,640 15,436
Amounts owed by group undertakings 31,999 11,999
47,639 27,435

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 133 138
Taxation and social security 2,492 8,048
Other creditors 12,658 15,558
15,283 23,744

7. ULTIMATE CONTROLLING PARTY

During the period, the company was under the control of its directors, Mr D Damianos and Mrs T Damianos.

8. ULTIMATE PARENT COMPANY

The ultimate parent company is Damianos Holdings Limited, a company incorporated in England and Wales.