Dismisses Let It Be: Beatles’ fifth and last hit (9)

'dismisses let it be beatles' fifth and last hit' is the definition.
I can't tell whether this definition defines the answer.

'dismisses let it be beatles' fifth and last hit' is the wordplay.
'dismisses' indicates anagramming the letters (I've seen 'dismissed' mean this).
'beatles' fifth' becomes 'l' (5th letter of 'beatles').
'and' means one lot of letters go next to another.
'last hit' becomes 's' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'let'+'it'+'be'+'l'='letitbel'
'letitbel' with letters rearranged gives 'belittle'.
'belittle'+'s'='BELITTLES'

Can you help me to learn more?