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REGISTERED NUMBER: 09394911 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Fifth Elevation Limited

Fifth Elevation Limited (Registered number: 09394911)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fifth Elevation Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: P B Roberts
L R Shepherd
Mrs K Roberts
Mrs L Shepherd





REGISTERED OFFICE: Castle Farm Barn North
Denmead Road
Southwick
Hampshire
PO17 6EX





REGISTERED NUMBER: 09394911 (England and Wales)





ACCOUNTANTS: KT Accountants Limited
Castle Farm Barn North
Denmead Road
Southwick
Hampshire
PO17 6EX

Fifth Elevation Limited (Registered number: 09394911)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 540,522 543,161

CURRENT ASSETS
Debtors 5 431,005 606,331
Cash at bank 705,648 409,780
1,136,653 1,016,111
CREDITORS
Amounts falling due within one year 6 481,477 409,543
NET CURRENT ASSETS 655,176 606,568
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,195,698

1,149,729

CREDITORS
Amounts falling due after more than
one year

7

(456,490

)

(500,393

)

PROVISIONS FOR LIABILITIES (23,641 ) (11,604 )
NET ASSETS 715,567 637,732

CAPITAL AND RESERVES
Called up share capital 9 120 120
Retained earnings 715,447 637,612
SHAREHOLDERS' FUNDS 715,567 637,732

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

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

Fifth Elevation Limited (Registered number: 09394911)

Balance Sheet - continued
31 March 2024


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 20 November 2024 and were signed on its behalf by:




P B Roberts - Director



L R Shepherd - Director


Fifth Elevation Limited (Registered number: 09394911)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Fifth Elevation 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

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.

Fifth Elevation Limited (Registered number: 09394911)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 14 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 445,957 197,861 643,818
Additions - 31,962 31,962
Disposals - (8,557 ) (8,557 )
At 31 March 2024 445,957 221,266 667,223
DEPRECIATION
At 1 April 2023 - 100,657 100,657
Charge for year - 31,525 31,525
Eliminated on disposal - (5,481 ) (5,481 )
At 31 March 2024 - 126,701 126,701
NET BOOK VALUE
At 31 March 2024 445,957 94,565 540,522
At 31 March 2023 445,957 97,204 543,161

Fifth Elevation Limited (Registered number: 09394911)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 111,281
DEPRECIATION
At 1 April 2023 39,344
Charge for year 17,984
At 31 March 2024 57,328
NET BOOK VALUE
At 31 March 2024 53,953
At 31 March 2023 71,937

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 290,140 430,775
Amounts recoverable on contract - 45,281
Other debtors 140,865 130,275
431,005 606,331

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts - 191
Hire purchase contracts (see note 8)
12,961

14,503
Trade creditors 307,090 284,749
Taxation and social security 118,898 56,788
Other creditors 42,528 53,312
481,477 409,543

Fifth Elevation Limited (Registered number: 09394911)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 290,854 300,396
Hire purchase contracts (see note 8)
49,564

62,525
Amounts owed to group undertakings 116,072 137,472
456,490 500,393

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 278,677 289,389

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 12,961 14,503
Between one and five years 49,564 62,525
62,525 77,028

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100
10 Ordinary A £1 10 10
10 Ordinary B £1 10 10
120 120

Fifth Elevation Limited (Registered number: 09394911)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
P B Roberts and Mrs K Roberts
Balance outstanding at start of year (3,189 ) (2,929 )
Amounts repaid 1,324 (260 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,865 ) (3,189 )

L R Shepherd and Mrs L Shepherd
Balance outstanding at start of year (18,817 ) (21,343 )
Amounts repaid 12,789 2,526
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (6,028 ) (18,817 )

Included in creditors is an amount due to the directors as above. These loans are interest free, undated, unsecured and repayable on demand.

11. ULTIMATE CONTROLLING PARTY

No one has a controlling interest in the company.