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REGISTERED NUMBER: 04353277 (England and Wales)












Unaudited Financial Statements for the Year Ended 31 March 2023

for

Fifth Element Design Limited

Fifth Element Design Limited (Registered number: 04353277)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Fifth Element Design Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Mr C J Pipes



SECRETARY: Mr C J Pipes



REGISTERED OFFICE: 11A-11B
Midland Rd Industrial Est
Midland Road
Swadlincote
Derbyshire
DE11 0AN



REGISTERED NUMBER: 04353277 (England and Wales)



ACCOUNTANTS: The Profit Key Limited
Prince William House
10 Lower Church Street
Ashby de la Zouch
Leicestershire
LE65 1AB



BANKERS: Lloyds TSB
High Street
Burton On Trent
Staffordshire
DE14 1JA

Fifth Element Design Limited (Registered number: 04353277)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,099 2,158

CURRENT ASSETS
Debtors 5 21,418 18,893
Cash at bank and in hand 4,956 5,774
26,374 24,667
CREDITORS
Amounts falling due within one year 6 17,710 14,129
NET CURRENT ASSETS 8,664 10,538
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,763

12,696

CREDITORS
Amounts falling due after more than one year 7 (8,750 ) (11,750 )

PROVISIONS FOR LIABILITIES (209 ) (410 )
NET ASSETS 804 536

CAPITAL AND RESERVES
Called up share capital 9 200 200
Retained earnings 604 336
SHAREHOLDERS' FUNDS 804 536

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

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

Fifth Element Design Limited (Registered number: 04353277)

Statement of Financial Position - continued
31 March 2023


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 director and authorised for issue on 16 November 2023 and were signed by:





Mr C J Pipes - Director


Fifth Element Design Limited (Registered number: 04353277)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Fifth Element Design 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.

Turnover
Turnover 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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

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.

Loans from directors
Any loans from the directors to the company are interest free and repayable on demand.

3. EMPLOYEES AND DIRECTORS

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

Fifth Element Design Limited (Registered number: 04353277)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022
and 31 March 2023 1,634 187 21,073 22,894
DEPRECIATION
At 1 April 2022 1,566 185 18,985 20,736
Charge for year 14 1 1,044 1,059
At 31 March 2023 1,580 186 20,029 21,795
NET BOOK VALUE
At 31 March 2023 54 1 1,044 1,099
At 31 March 2022 68 2 2,088 2,158

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 8,672 8,130
Directors' current accounts 9,212 8,991
Tax 3,059 1,297
Prepayments 475 475
21,418 18,893

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,000 3,000
Trade creditors 2,054 2,603
Tax 7,046 3,394
VAT 2,362 2,463
Other creditors 1,608 1,089
Accrued expenses 1,640 1,580
17,710 14,129

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 8,750 11,750

Fifth Element Design Limited (Registered number: 04353277)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 11,750 14,750

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100
100 A Non Voting Ordinary £1 100 100
200 200