REGISTERED NUMBER: 00015623 (England and Wales)

SAINT MARY STREET BUILDINGS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S Dunmore

Mrs C Usher

Mrs H E Blessley

SECRETARY:

Mrs H E Blessley

REGISTERED OFFICE:

38 Heol St Denys

Lisvane

Cardiff

CF14 0RU

REGISTERED NUMBER:

00015623 (England and Wales)

ACCOUNTANTS:

Carston ETL

Tudor House

16 Cathedral Road

Cardiff

CF11 9LJ

FIXED ASSETS

Tangible assets

4

2

2

Investments

5

488,478

452,882

Investment property

6

5,914,760

4,120,000

6,403,240

4,572,884

CURRENT ASSETS

Debtors

7

5,918

10,897

Cash at bank

111,680

138,001

117,598

148,898

CREDITORS

Amounts falling due within one year

8

26,155

21,916

NET CURRENT ASSETS

91,443

126,982

TOTAL ASSETS LESS CURRENT LIABILITIES

6,494,683

4,699,866

PROVISIONS FOR LIABILITIES

699,059

294,570

NET ASSETS

5,795,624

4,405,296

CAPITAL AND RESERVES

Called up share capital

8,000

8,000

Fair value reserve

9

4,775,578

3,378,388

Retained earnings

1,012,046

1,018,908

SHAREHOLDERS' FUNDS

5,795,624

4,405,296

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

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

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21st May 2025 and were signed on its behalf by:

Mrs S Dunmore - Director

1.	STATUTORY INFORMATION

Saint Mary Street Buildings 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

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

- The valuation of the company's freehold investment properties.

- The market value of the company's fixed asset investments.

Turnover

Turnover comprises rent receivable from the company's principal activity and is stated on an accruals basis after due allowance for rent in arrears or advance

Tangible fixed assets

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

Fixtures and fittings

-

25% straight line on 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.

Properties let on assured shorthold tenancies have been valued on their open market vacant possession values. Properties let on contractual or protected tenancies have been valued on an investment basis. The values reflect selling each property individually rather than as a single lot.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1st January 2024

and 31st December 2024

2,319

DEPRECIATION

At 1st January 2024

and 31st December 2024

2,317

NET BOOK VALUE

At 31st December 2024

2

At 31st December 2023

2

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1st January 2024

452,882

Disposals

(5,787

)

Revaluations

41,383

At 31st December 2024

488,478

NET BOOK VALUE

At 31st December 2024

488,478

At 31st December 2023

452,882

Cost or valuation at 31st December 2024 is represented by:

Other

investments

£

Valuation in 2019

39,177

Valuation in 2020

113,021

Valuation in 2021

34,030

Valuation in 2022

(107,334

)

Valuation in 2023

53,744

Valuation in 2024

41,383

Cost

314,457

488,478

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st January 2024

4,120,000

Additions

34,464

Revaluations

1,760,296

At 31st December 2024

5,914,760

NET BOOK VALUE

At 31st December 2024

5,914,760

At 31st December 2023

4,120,000

Fair value at 31st December 2024 is represented by:

£

Valuation in 2015

4,784,915

Valuation in 2021

(1,250,000

)

Valuation in 2024

1,760,296

Cost

619,549

5,914,760

If freehold investment properties had not been revalued they would have been included at the following historical cost:

2024

2023

£

£

Cost

659,612

585,085

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

5,918

10,897

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Taxation and social security

1,361

4,856

Other creditors

24,794

17,060

26,155

21,916

9.

RESERVES

Fair

value

reserve

£

At 1st January 2024

3,378,388

Revaluation in the year

1,397,190

At 31st December 2024

4,775,578