Company registration number 14104073 (England and Wales)
5TH ESTATES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH REGISTRAR
5TH ESTATES LIMITED
COMPANY INFORMATION
Director
Mr J K Awotwe-Mensah
(Appointed 12 May 2022)
Company number
14104073
Registered office
180 Great Portland Street
London
England
W1W 5QZ
Accountants
YMU Business Management Limited
3rd Floor
Colwyn Chambers
19 York Street
Manchester
M2 3BA
5TH ESTATES LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 5
5TH ESTATES LIMITED
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF 5TH ESTATES LIMITED
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of 5th Estates Limited for the year ended 31 May 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of 5th Estates Limited, as a body, in accordance with the terms of our engagement letter dated 24 May 2022. Our work has been undertaken solely to prepare for your approval the financial statements of 5th Estates Limited and state those matters that we have agreed to state to the board of directors of 5th Estates Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 5th Estates Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that 5th Estates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of 5th Estates Limited. You consider that 5th Estates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of 5th Estates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

12 April 2024
Chartered Accountants
5TH ESTATES LIMITED
BALANCE SHEET
AS AT
31 MAY 2023
31 May 2023
- 2 -
2023
Notes
£
£
Fixed assets
Tangible assets
3
92,477
Current assets
Debtors
7,396
Cash at bank and in hand
1,311
8,707
Creditors: amounts falling due within one year
(36,532)
Net current liabilities
(27,825)
Total assets less current liabilities
64,652
Creditors: amounts falling due after more than one year
(64,726)
Net liabilities
(74)
Capital and reserves
Called up share capital
100
Profit and loss reserves
(174)
Total equity
(74)

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

5TH ESTATES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2023
31 May 2023
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 12 April 2024
Mr J K Awotwe-Mensah
Director
Company registration number 14104073 (England and Wales)
5TH ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 4 -
1
Accounting policies
Company information

5th Estates Limited is a private company limited by shares incorporated in England and Wales. The registered office is:

 

180 Great Portland Street

London

England

W1W 5QZ

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% straight line

Freehold land is not depreciated.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

5TH ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 5 -
3
Tangible fixed assets
Total
£
Cost
At 12 May 2022
-
0
0
Additions
93,182
At 31 May 2023
93,182
Depreciation and impairment
At 12 May 2022
-
0
Depreciation charged in the year
705
At 31 May 2023
705
Carrying amount
At 31 May 2023
92,477
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