Registered number
10086582
Fives Property Management Limited
Report and Accounts
29 March 2024
Accountancy 4 Success Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
Fives Property Management Limited
Registered number: 10086582
Balance Sheet
as at 29 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 190,059 194,624
Investments 4 100 -
190,159 194,624
Current assets
Debtors 5 114,634 118,649
Cash at bank and in hand 800 14,683
115,434 133,332
Creditors: amounts falling due within one year 6 (238,915) (242,772)
Net current liabilities (123,481) (109,440)
Total assets less current liabilities 66,678 85,184
Creditors: amounts falling due after more than one year 7 (17,968) (32,237)
Net assets 48,710 52,947
Capital and reserves
Called up share capital 300 300
Profit and loss account 48,410 52,647
Shareholders' funds 48,710 52,947
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Paul Brown
Director
Approved by the board on 25 February 2025
Fives Property Management Limited
Notes to the Accounts
for the period from 31 March 2023 to 29 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold land and buildings NIL
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 31 March 2023 170,660 64,127 14,000 248,787
Additions - 1,900 - 1,900
At 29 March 2024 170,660 66,027 14,000 250,687
Depreciation
At 31 March 2023 - 46,069 8,094 54,163
Charge for the period - 4,989 1,476 6,465
At 29 March 2024 - 51,058 9,570 60,628
Net book value
At 29 March 2024 170,660 14,969 4,430 190,059
At 30 March 2023 170,660 18,058 5,906 194,624
4 Investments
Investments in
subsidiary
undertakings
£
Cost
Additions 100
At 29 March 2024 100
The company holds 20% or more of the share capital of the following companies:
Company Shares held
Class Number
Fives Garage and Autobody Repair Ltd Ordinary 100
5 Debtors 2024 2023
£ £
Trade debtors 11,200 13,600
Amounts owed by group undertakings and undertakings in which the company has a participating interest 103,434 105,049
114,634 118,649
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Obligations under finance lease and hire purchase contracts 4,270 4,270
Trade creditors 1,212 -
Other taxes and social security costs 1,017 487
Other creditors 222,416 228,015
238,915 242,772
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 15,833 25,833
Obligations under finance lease and hire purchase contracts 2,135 6,404
17,968 32,237
8 Related party transactions
There are no related party transactions.
9 Controlling party
The company is controlled by its directors who are the shareholders.
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