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 2018

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

G R Wingfield Digby

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

3

2,824,083

2,470,438

Current assets

Cash at bank

1,833

51,024

Creditors

Amounts falling due within one year

4

37,192

4,212

Net current (liabilities)/assets

(35,359

)

46,812

Total assets less current liabilities

2,788,724

2,517,250

Provisions for liabilities

15,033

-

Net assets

2,773,691

2,517,250

Capital and reserves

Called up share capital

325,000

325,000

Foreign exchange translation

reserve

5

64,089

14,801

Retained earnings

5

2,384,602

2,177,449

Shareholders' funds

2,773,691

2,517,250

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 4 October 2018 and were signed on its behalf by:

G R Wingfield Digby - 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 and dividends receivable which

form part of the net investment in the subsidiary undertaking, are translated into sterling at the balance sheet

date with the gain or loss on translation being recognised in Other Comprehensive Income. This is a departure

from Section 30 of Financial Reporting Standard 102, which requires that any gain or loss on translation be

recognised in the Income Statement.

This departure is a true and fair override as the settlement of the loan and dividend balances which form part

of the net investment in the subsidiary undertaking is neither planned, nor likely to occur in the foreseeable

future, therefore it is believed that the recognition of temporary differences in exchange rates in the Income

Statement would be misleading in these circumstances.

Going concern

The directors have made an assessment of the company's ability to continue as a going concern and have

identified no material uncertainties that may cast doubt on the ability of the company to continue as a going

concern for the foreseeable future.

3.	Fixed asset investments

31/3/18

31/3/17

£

£

Shares in group undertakings

10,150

10,150

Loans to group undertakings

2,813,933

2,460,288

2,824,083

2,470,438

Additional information is as follows:

Shares in

group

undertakings

£

Cost

At 1 April 2017

and 31 March 2018

10,150

Net book value

At 31 March 2018

10,150

At 31 March 2017

10,150

Loans to

group

undertakings

£

At 1 April 2017

2,460,288

New in year

353,645

At 31 March 2018

2,813,933

The long term loans and dividends receivable from its subsidiary company 5th Property Trading Sp Zoo are

included as part of the net investment in the company.

4.

Creditors: amounts falling due within one year

31/3/18

31/3/17

£

£

Trade creditors

13

12

Other creditors

37,179

4,200

37,192

4,212

5.

Reserves

Foreign

exchange

Retained

translation

earnings

reserve

Totals

£

£

£

At 1 April 2017

2,177,449

14,801

2,192,250

Profit for the year

207,153

207,153

Unrealised exchange gains

-

49,288

49,288

At 31 March 2018

2,384,602

64,089

2,448,691

The Foreign exchange translation reserve is made up of the unrealised gains of £79,122 arising from the

retranslation at the year end of the zlotys loan and dividends receivable that are included in investments less

the deferred tax of £15,033 that would be payable if these exchange gains were realised.

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

The Report of the Auditors was unqualified.

Rodney Style ACA (Senior Statutory Auditor)

for and on behalf of Haines Watts

7.	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.

Dividends totalling £Nil (2017 - £19,872) were paid during the year to directors and close members of their

families.

8.	Ultimate controlling party

There is no ultimate controlling party.