Company Registration No. 12690681 (England and Wales)
5 Towns Holdings Ltd
Unaudited accounts
for the year ended 30 June 2024
5 Towns Holdings Ltd
Unaudited accounts
Contents
5 Towns Holdings Ltd
Company Information
for the year ended 30 June 2024
Company Number
12690681 (England and Wales)
Registered Office
16a Calverley Road
Oulton
Leeds
West Yorkshire
LS26 8JQ
5 Towns Holdings Ltd
Statement of financial position
as at 30 June 2024
Investment property
1,377,335
1,207,058
Cash at bank and in hand
230,724
200,954
Creditors: amounts falling due within one year
(582,716)
(858,822)
Net current liabilities
(155,802)
(459,511)
Total assets less current liabilities
1,221,533
747,547
Creditors: amounts falling due after more than one year
(989,854)
(582,033)
Provisions for liabilities
Deferred tax
(47,927)
(34,612)
Net assets
183,752
130,902
Called up share capital
100
100
Fair value reserve
200,811
147,550
Profit and loss account
(17,159)
(16,748)
Shareholders' funds
183,752
130,902
For the year ending 30 June 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 April 2025 and were signed on its behalf by
Alan Dickinson
Director
Company Registration No. 12690681
5 Towns Holdings Ltd
Notes to the Accounts
for the year ended 30 June 2024
5 Towns Holdings Ltd is a private company, limited by shares, registered in England and Wales, registration number 12690681. The registered office is 16a Calverley Road, Oulton, Leeds, West Yorkshire, LS26 8JQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The presentation currency is £ sterling.
Investment Income relates to rental income on investment properties and is measured at the fair value of the consideration received or receivable.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Fair value at 1 July 2023
1,207,058
Net gain from fair value adjustments
66,576
Investment property is valued at fair value at the balance sheet date and has been obtained from valuations taken by the directors and from third party valuers.
5 Towns Holdings Ltd
Notes to the Accounts
for the year ended 30 June 2024
Amounts falling due within one year
Amounts due from group undertakings etc.
189,150
195,000
6
Creditors: amounts falling due within one year
2024
2023
Amounts owed to group undertakings and other participating interests
189,150
224,000
Taxes and social security
292
292
Loans from directors
392,185
633,351
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Creditors: amounts falling due after more than one year
2024
2023
Bank loans
989,854
582,033
Contained within creditors over one year are the following securities relating to properties held and shown as Investment Property:
1. Lendinvest BTL Limited - Fixed Charge - 91 Borrowdale Drive, Castleford, West Yorkshire, WF10 2NX,
2. Octane property Finance 4 Limited - Fixed Charge - 41-43 Weeland Road, Knottingley, WF11 8BE,
3. Lendinvest BTL Limited - Fixed Charge - 123 Smawthorne Lane, Castleford, WF10 4ES,
4. Shawbrook Bank limited - Fixed Charge - 2 Vale Crescent, Knottingley, WF11 8JP,
5. Landbay Partners Limited - Fixed Charge - 1-4 Tower House, Bond Street, Wakefield, WF1 2QP
8
Deferred taxation
2024
2023
Revaluation of investment property
47,927
34,612
Provision at start of year
34,612
17,312
Charged to the profit and loss account
13,315
17,300
Provision at end of year
47,927
34,612
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
5 Towns Holdings Ltd
Notes to the Accounts
for the year ended 30 June 2024
The directors loan account balance is repayable on demand, the directors do not intend to make any substantial repayments of the amount due to them during the next 12 months.
11
Average number of employees
During the year the average number of employees was 2 (2023: 2).