5th Property Trading Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05200783 (England and Wales)

Financial Statements

for the Year Ended 31 March 2021

for

5TH PROPERTY TRADING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

B N Habib

M S Pryce

J A Aubrey

Secretary:

J A Aubrey

Registered office:

32 St James's Street

London

SW1A 1HD

Registered number:

05200783 (England and Wales)

Auditors:

Haines Watts

Chartered Accountants and Statutory Auditor

Sterling House

19/23 High Street

Kidlington

Oxfordshire

OX5 2DH

Fixed assets

Investments

4

763,324

662,605

Current assets

Debtors

5

2,105,078

2,225,287

Cash at bank

6,512

11,719

2,111,590

2,237,006

Creditors

Amounts falling due within one year

6

101,290

70,669

Net current assets

2,010,300

2,166,337

Total assets less current liabilities

2,773,624

2,828,942

Capital and reserves

Called up share capital

7

406,247

406,247

Share premium

8

312,801

312,801

Foreign exchange translation

reserve

8

(12,435

)

(12,435

)

Retained earnings

8

2,067,011

2,122,329

Shareholders' funds

2,773,624

2,828,942

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 December 2021 and were signed on its behalf by:

J A Aubrey - Director

1.	Statutory information

5th Property Trading 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.

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.

Preparation of consolidated financial statements

The financial statements contain information about 5th Property Trading Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost. Monetary items which are denominated in foreign currencies, such as loans which form part of the net investment in the subsidiary undertaking, are translated into sterling at the balance sheet date.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Monetary items which are denominated in foreign currency, such as loans which form part of the net

investment in the subsidiary undertaking, are translated into sterling at the balance sheet date with the unrealised gains being recognised in Other Comprehensive Income. Reversals of foreign exchange gains are first in Other Comprehensive Income and subsequently in the Profit and Loss account.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered a period of twelve months from the date of approval of the financial statements, including any potential impact of the Covid-19 virus on trading. Having taken account of all available information about the future, including the company’s most recent trading results, budgets and cash flow forecasts, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3.	Employees and directors

The average number of employees during the year was NIL (2020 - NIL).

4.	Fixed asset investments

31/3/21

31/3/20

£

£

Shares in group undertakings

10,150

10,150

Loans to group undertakings

753,174

652,455

763,324

662,605

Additional information is as follows:

Shares in

group

undertakings

£

Cost

At 1 April 2020

and 31 March 2021

10,150

Net book value

At 31 March 2021

10,150

At 31 March 2020

10,150

Loans to

group

undertakings

£

At 1 April 2020

652,455

Advanced in year

100,719

At 31 March 2021

753,174

The long term loans receivable from its subsidiary company 5th Property Trading Poland Sp Zoo are included as part of the net investment in the company.

5.

Debtors: amounts falling due within one year

31/3/21

31/3/20

£

£

Other debtors

2,105,078

2,225,287

6.

Creditors: amounts falling due within one year

31/3/21

31/3/20

£

£

Trade creditors

41,822

12,871

Other creditors

59,468

57,798

101,290

70,669

7.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/21

31/3/20

value:

£

£

406,247

Ordinary

£1

406,247

406,247

8.

Reserves

Foreign

exchange

Retained

Share

translation

earnings

premium

reserve

Totals

£

£

£

£

At 1 April 2020

2,122,329

312,801

(12,435

)

2,422,695

Deficit for the year

(55,318

)

(55,318

)

At 31 March 2021

2,067,011

312,801

(12,435

)

2,367,377

The foreign exchange translation reserve is made up of unrealised foreign exchange losses of £12,435 arising from the retranslation of the zlotys loans receivable that are included in investments.

9.	Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

George Style ACA (Senior Statutory Auditor)

for and on behalf of Haines Watts

10.	Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year the company paid fees of £28,950 (2020 - £36,427) to First Property Group Plc who has a 40.6% shareholding in 5th Property Trading Ltd.

11.	Ultimate controlling party

There is no ultimate controlling party.