Atletico Santoro Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 11377231 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2023

for

Atletico Santoro Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

E S Ashworth

REGISTERED OFFICE:

2 Parkes Way

Blackburn

United Kingdom

Lancashire

BB2 4FH

REGISTERED NUMBER:

11377231 (England and Wales)

ACCOUNTANTS:

Mayes Business Partnership Ltd

Chartered Certified Accountants

22-28 Willow Street

Accrington

Lancashire

BB5 1LP

FIXED ASSETS

Investment property

4

885,000

685,000

CURRENT ASSETS

Debtors

1,074

40,000

Cash at bank

2,034

14,307

3,108

54,307

CREDITORS

Amounts falling due within one year

189,285

124,034

NET CURRENT LIABILITIES

(186,177

)

(69,727

)

TOTAL ASSETS LESS CURRENT LIABILITIES

698,823

615,273

CREDITORS

Amounts falling due after more than one year

5

(366,134

)

(368,256

)

PROVISIONS FOR LIABILITIES

(7,732

)

(11,503

)

NET ASSETS

324,957

235,514

CAPITAL AND RESERVES

Called up share capital

7

100

100

Revaluation reserve

8

31,492

-

Retained earnings

293,365

235,414

SHAREHOLDERS' FUNDS

324,957

235,514

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 February 2024 and were signed by:

E S Ashworth - Director

1.	STATUTORY INFORMATION

Atletico Santoro 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.

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.

Financial instruments

Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2022

685,000

Additions

160,776

Revaluations

39,224

At 31 May 2023

885,000

NET BOOK VALUE

At 31 May 2023

885,000

At 31 May 2022

685,000

Fair value at 31 May 2023 is represented by:

£

Valuation in 2023

39,224

Cost

845,776

885,000

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31/5/23

31/5/22

£

£

Repayable by instalments

Bank loans more 5 yr by instal

254,669

260,030

6.	SECURED DEBTS

The following secured debts are included within creditors:

31/5/23

31/5/22

£

£

Bank loans

390,761

389,337

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/5/23

31/5/22

value:

£

£

88

Ordinary A

£1

88

88

2

Ordinary B

£1

2

2

2

Ordinary C

£1

2

2

2

Ordinary D

£1

2

2

2

Ordinary E

£1

2

2

2

Ordinary F

£1

2

2

2

Ordinary G

£1

2

2

100

100

8.

RESERVES

Revaluation

reserve

£

Property revaluation

31,492

At 31 May 2023

31,492