Company registration number 14169303 (England and Wales)
5C HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024
5C HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
5C HOLDINGS LIMITED
BALANCE SHEET
- 1 -
31 May 2024
30 June 2023
Notes
£
£
£
£
Fixed assets
Investments
3
995,972
995,872
Current assets
-
-
Creditors: amounts falling due within one year
4
(100)
Net current liabilities
(100)
Net assets
995,872
995,872
Capital and reserves
Called up share capital
5
995,872
995,872
The notes on pages 2 to 4 form part of these financial statements.
For the financial period ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 14 January 2025 and are signed on its behalf by:
Mr S Adams
Mrs P Adams
Director
Director
Company registration number 14169303 (England and Wales)
5C HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024
- 2 -
1
Accounting policies
Company information
5C Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1712 Warwick Road, Knowle, West Midlands, B93 0HU.
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 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Fixed asset investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.3
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
5C HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
2023
Number
Number
Total
2
2
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
995,972
995,872
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 July 2023
995,872
Additions
100
At 31 May 2024
995,972
Carrying amount
At 31 May 2024
995,972
At 30 June 2023
995,872
During the period the company acquired the entire issued share capital of Solihull Wheel Repair Limited at its par value.
4
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
100
5C HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2024
- 4 -
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary of £1 each
794,208
794,208
794,208
794,208
B Ordinary of £1 each
200,071
200,071
200,071
200,071
C Ordinary of £1 each
1,593
1,593
1,593
1,593
995,872
995,872
995,872
995,872