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Registration number: 05719978

Standmark Limited

Financial Statements

for the Year Ended 30 June 2024

Brebners
Chartered Accountants & Statutory Auditor
130 Shaftesbury Avenue
London
W1D 5AR

 

Standmark Limited

Contents

Company Information

1

Statement of Income and Retained Earnings

2

Statement of Financial Position

3

Notes to the Financial Statements

4 to 7

 

Standmark Limited

Company Information

Directors

S S Patel

A P Rimoldi

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Auditor

Brebners
Chartered Accountants & Statutory Auditor
130 Shaftesbury Avenue
London
W1D 5AR

 

Standmark Limited

Statement of Income and Retained Earnings for the Year Ended 30 June 2024

Note

2024
£

2023
£

Turnover

 

208,000

208,000

Administrative expenses

 

(2,503)

(14,274)

Operating profit

 

205,497

193,726

Other interest receivable and similar income

 

141

-

Interest payable and similar charges

 

-

(672)

 

141

(672)

Profit before tax

205,638

193,054

Taxation

 

(39,221)

(39,388)

Profit for the financial year

 

166,417

153,666

Retained earnings brought forward

 

1,486,602

1,330,456

Retained earnings carried forward

 

1,653,019

1,484,122

 

Standmark Limited

Statement of Financial Position as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

2,087,000

2,091,000

Current assets

 

Debtors

6

448,436

276,999

Cash at bank and in hand

 

14,412

6,925

 

462,848

283,924

Creditors: Amounts falling due within one year

7

(75,356)

(66,099)

Net current assets

 

387,492

217,825

Total assets less current liabilities

 

2,474,492

2,308,825

Provisions for liabilities

(129,196)

(145,753)

Net assets

 

2,345,296

2,163,072

Capital and reserves

 

Called up share capital

5

5

Revaluation reserve

8

689,792

676,465

Retained earnings

8

1,655,499

1,486,602

Shareholders' funds

 

2,345,296

2,163,072

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the Board on 11 February 2025 and signed on its behalf by:
 

.........................................

S S Patel

Director

Company registration number: 05719978

 

Standmark Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is the rental of freehold property.

2

Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 12 February 2025 was Darren Bond, who signed for and on behalf of Brebners.

3

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company made a profit for the year and had net assets amounting to £2,345,296 as at 30 June 2024.

The directors have considered the impact of the ongoing economic uncertainty in the United Kingdom and the directors' view is that the impact is manageable. The company has traded profitably in the year and has restructured its operations to ensure more efficiencies within the business.

On the basis of the above and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable from property rental income. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

 

Standmark Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

Tax

The tax expense for the period comprises current an deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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

Land and buildings

50 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Standmark Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4

Staff numbers

The average number of persons employed by the company during the year, was 0 (2023 - 0).

5

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 July 2023

2,100,000

2,100,000

At 30 June 2024

2,100,000

2,100,000

Depreciation

At 1 July 2023

9,000

9,000

Charge for the year

4,000

4,000

At 30 June 2024

13,000

13,000

Carrying amount

At 30 June 2024

2,087,000

2,087,000

At 30 June 2023

2,091,000

2,091,000

The historic cost of the land and buildings was £1,275,616 (2023: £1,275,616).

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

2,758

1,807

Amounts owed by group undertakings

9

-

274,985

Other debtors

 

445,678

207

 

448,436

276,999

 

Standmark Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

5,808

5,983

Taxation and social security

 

58,597

49,420

Other creditors

 

10,951

10,696

 

75,356

66,099

8

Reserves

The profit and loss account includes all current and prior period retained earnings and accumulated losses.

Revaluation reserve includes all current and prior year gains and losses on revaluation of land and buildings, less deferred taxation.

9

Related party transactions

Summary of transactions with parent and fellow subsidiaries

In accordance with FRS 102 paragraph 33.1A, exemption is taken to not disclose transactions in the year between wholly owned group undertakings.

10

Parent and ultimate parent undertaking

The company's immediate parent is Concrete Repairs Limited, incorporated in England and Wales.

 The ultimate parent is Centura Group Limited, incorporated in England and Wales.

 The most senior parent entity producing publicly available financial statements is Concrete Repairs Limited. These financial statements are available upon request from Companies House.