Teaser 2645: One square

From The Sunday Times, 2nd June 2013 [link] [link]

I have consistently replaced digits by letters, using different letters for different digits, and in this way I have found that:

(FIVEFOUR)² = ONE

Now, if I were to tell you whether or not THREE is divisible by 3, and whether or not FOUR is divisible by 4, then you could work out FIVE.

What number is FIVE?

Note: As originally published this puzzle has no solution (and was reproduced in this flawed form in the book The Sunday Times Brain Teasers Book 2 (2020)).

However the additional information that “FIVE is greater than FOUR” allows the published answer to be found.

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