5 T Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04421203 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

5 T Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R D T Tippett

N V J Tippett

SECRETARY:

N V J Tippett

REGISTERED OFFICE:

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

REGISTERED NUMBER:

04421203 (England and Wales)

ACCOUNTANTS:

Dunkley's

Chartered Accountants

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

FIXED ASSETS

Tangible assets

4

6,115

6,377

Investments

5

291,665

101,665

Investment property

6

1,761,026

2,012,000

2,058,806

2,120,042

CURRENT ASSETS

Debtors

7

394,288

208,478

Cash at bank

84,775

84,002

479,063

292,480

CREDITORS

Amounts falling due within one year

8

91,293

125,036

NET CURRENT ASSETS

387,770

167,444

TOTAL ASSETS LESS CURRENT LIABILITIES

2,446,576

2,287,486

CREDITORS

Amounts falling due after more than one year

9

(1,853,861

)

(1,822,860

)

PROVISIONS FOR LIABILITIES

(976

)

(954

)

NET ASSETS

591,739

463,672

CAPITAL AND RESERVES

Called up share capital

11

20,010

20,010

Non-distributable reserve

12

(27,860

)

83,688

Retained earnings

12

599,589

359,974

SHAREHOLDERS' FUNDS

591,739

463,672

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 on 21 November 2019 and were signed on its behalf by:

R D T Tippett - Director

1.	STATUTORY INFORMATION

5 T 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 as modified by the revaluation of certain assets.

Related party exemption

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.

Turnover

Turnover represents gross rents receivable.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes

in fair value is recognised in profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2018

7,531

5,532

2,300

15,363

Additions

1,401

-

-

1,401

At 31 March 2019

8,932

5,532

2,300

16,764

DEPRECIATION

At 1 April 2018

2,347

4,382

2,257

8,986

Charge for year

1,476

173

14

1,663

At 31 March 2019

3,823

4,555

2,271

10,649

NET BOOK VALUE

At 31 March 2019

5,109

977

29

6,115

At 31 March 2018

5,184

1,150

43

6,377

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2018

101,665

Additions

190,000

At 31 March 2019

291,665

NET BOOK VALUE

At 31 March 2019

291,665

At 31 March 2018

101,665

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2018

2,012,000

Additions

11,026

Disposals

(262,000

)

At 31 March 2019

1,761,026

NET BOOK VALUE

At 31 March 2019

1,761,026

At 31 March 2018

2,012,000

Fair value at 31 March 2019 is represented by:

£

Valuation in 2010

(660,308

)

Valuation in 2012

38,538

Valuation in 2013

100,000

Valuation in 2015

175,000

Valuation in 2016

275,000

Valuation in 2017

43,910

Cost

1,788,886

1,761,026

If investment properties had not been revalued they would have been included at the following historical cost:

31.3.19

31.3.18

£

£

Cost

1,788,886

1,922,222

The revaluation of investment properties in the year ended 31 March 2010 was carried out by Alder King. The

revaluation of investment properties in the years ended 31 March 2012 to 31 March 2019 was carried out by

the Directors.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Amounts owed by associates

386,639

201,028

Accrued income

6,449

6,382

Prepayments

1,200

1,068

394,288

208,478

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Amounts owed to associates

80,672

113,217

Tax

5,929

7,450

Social security and other taxes

2

-

Accruals and deferred income

-

2,491

Accrued expenses

4,690

1,878

91,293

125,036

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Mortgage

600,000

600,000

Directors' current accounts

1,253,861

1,222,860

1,853,861

1,822,860

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.19

31.3.18

£

£

Bank loans

600,000

600,000

A first legal charge over 209-211 Cheltenham Road, Bristol, BS6 5QP and its associated assets (existing security)

A debenture over the Borrower's whole assets and undertaking (existing security)

A deed of postponement & subordination in respect of £500,000 owed by the Borrower to Richard David

Trentham Tippett (new security).

A deed of postponement & subordination in respect of £500,000 owed by the Borrower to Natalie Vida Jane

Tippett (new security).

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.19

31.3.18

value:

£

£

210

Ordinary

£1

210

210

19,800

Ordinary B

£1

19,800

19,800

20,010

20,010

12.

RESERVES

Retained

Non-distributable

earnings

reserve

Totals

£

£

£

At 1 April 2018

359,974

83,688

443,662

Profit for the year

243,615

243,615

Dividends

(4,000

)

(4,000

)

Revalued assets disposed

-

(111,548

)

(111,548

)

At 31 March 2019

599,589

(27,860

)

571,729

13.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr Richard D T Tippett & Mrs Natalie V J Tippett.