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Registration number: 12875402

5A Property Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

5A Property Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

5A Property Limited

(Registration number: 12875402)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

262

298

Investment property

5

595,000

537,682

 

595,262

537,980

Current assets

 

Debtors

6

-

56,851

Cash at bank and in hand

 

22,375

16,786

 

22,375

73,637

Creditors: Amounts falling due within one year

7

(161,571)

(215,161)

Net current liabilities

 

(139,196)

(141,524)

Total assets less current liabilities

 

456,066

396,456

Creditors: Amounts falling due after more than one year

7

(362,345)

(361,050)

Provisions for liabilities

(24,251)

(13,361)

Net assets

 

69,470

22,045

Capital and reserves

 

Called up share capital

3

3

Other reserves

103,386

56,958

Retained earnings

(33,919)

(34,916)

Shareholders' funds

 

69,470

22,045

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

5A Property Limited

(Registration number: 12875402)
Balance Sheet as at 30 September 2024

Approved and authorised by the Board on 19 December 2024 and signed on its behalf by:
 

.........................................
A D Stemler
Director

.........................................
M P Stemler
Director

.........................................
N J Stemler
Director

 

5A Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
5a Orchard Street
Frome
Somerset
BA11 3BX

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

5A Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Tools and equipment

25% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

5A Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

5A Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2023

1,189

1,189

Additions

349

349

At 30 September 2024

1,538

1,538

Depreciation

At 1 October 2023

891

891

Charge for the year

385

385

At 30 September 2024

1,276

1,276

Net book value

At 30 September 2024

262

262

At 30 September 2023

298

298

5

Investment properties

2024
£

At 1 October

537,682

Fair value adjustments

57,318

At 30 September

595,000

The properties have been valued by an independent valuer.

6

Debtors

2024
£

2023
£

Other debtors

-

56,851

-

56,851

 

5A Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Creditors

Amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

11,825

1,110

Other creditors

149,746

214,051

161,571

215,161

Amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

362,345

361,050

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

362,345

361,050

Bank borrowings

Mortgage 1 is denominated in £ with a nominal interest rate of 3.150%, and the final instalment is due on 28 February 2037. The carrying amount at year end is £208,545 (2023 - £207,250).

This mortgage is secured by way of a legal charge, dated 21 April 2022, on Flat 1 and Flat 2, 80 Richmond Road, Southampton.

Mortgage 2 is denominated in £ with a nominal interest rate of 4.52%, and the final instalment is due on 15 February 2038. The carrying amount at year end is £153,800 (2023 - £153,800).

This mortgage is secured by way of a legal charge, dated 16 March 2023, on 16 Thackeray Road, Southampton.

 

5A Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

9

Related party transactions

Transactions with directors

2024

At 1 October 2023
£

Advances to director
£

Repayments by director
£

At 30 September 2024
£

N J Stemler

Loan to director

56,851

4,407

(61,258)

-

2023

At 1 October 2022
£

Advances to director
£

At 30 September 2023
£

N J Stemler

Loan to director

-

56,851

56,851

Expenditure with and payables to related parties

2024

Key management
£

Management charges paid to N J Stemler on a self-employed basis

18,630

Loans from related parties

2024

Entities with joint control or significant influence
£

Total
£

At start of period

55,000

55,000

Advanced

5,000

5,000

Repaid

(25,000)

(25,000)

At end of period

35,000

35,000

2023

Entities with joint control or significant influence
£

Total
£

At start of period

55,000

55,000

At end of period

55,000

55,000