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REGISTERED NUMBER: 04391361 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

ASA CONSORTIUM LIMITED

ASA CONSORTIUM LIMITED (REGISTERED NUMBER: 04391361)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Statement of Financial Position 1

Notes to the Financial Statements 3


ASA CONSORTIUM LIMITED (REGISTERED NUMBER: 04391361)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 5,888
Investment property 5 - 7,615,000
- 7,620,888

CURRENT ASSETS
Debtors 6 - 395,130
Cash at bank - 125,111
- 520,241
CREDITORS
Amounts falling due within one year 7 - 130,610
NET CURRENT ASSETS - 389,631
TOTAL ASSETS LESS CURRENT
LIABILITIES

-

8,010,519

CREDITORS
Amounts falling due after more than one
year

8

-

(2,203,907

)

PROVISIONS FOR LIABILITIES - (524,993 )
NET ASSETS - 5,281,619

CAPITAL AND RESERVES
Called up share capital 11 100 100
Non-distributable reserves 12 - 3,672,979
Retained earnings 12 (100 ) 1,608,540
SHAREHOLDERS' FUNDS - 5,281,619

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

ASA CONSORTIUM LIMITED (REGISTERED NUMBER: 04391361)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2023


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 30 November 2023 and were signed on its behalf by:





J A Blake - Director


ASA CONSORTIUM LIMITED (REGISTERED NUMBER: 04391361)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

ASA Consortium Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04391361

Registered office: Ratoath House
Hazelwood Close
Storrington
West Sussex
RH20 3HX

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 25% 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 statement of financial position date.


ASA CONSORTIUM LIMITED (REGISTERED NUMBER: 04391361)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2022 19,802 16,082 35,884
Disposals (19,802 ) (16,082 ) (35,884 )
At 31 March 2023 - - -
DEPRECIATION
At 1 April 2022 15,422 14,574 29,996
Charge for year 1,095 377 1,472
Eliminated on disposal (16,517 ) (14,951 ) (31,468 )
At 31 March 2023 - - -
NET BOOK VALUE
At 31 March 2023 - - -
At 31 March 2022 4,380 1,508 5,888

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 7,615,000
Disposals (3,418,030 )
Revaluations (4,196,970 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 7,615,000

ASA CONSORTIUM LIMITED (REGISTERED NUMBER: 04391361)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. INVESTMENT PROPERTY - continued

The investment properties were all transferred at cost on 25 January 2023 to the ultimate parent undertaking as part of the group's reorganisation during the year and as more fully described in note 14.

Fair value at 31 March 2023 is represented by:
£   

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings - 387,630
Other debtors - 7,500
- 395,130

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) - 57,500
Taxation and social security - 45,804
Other creditors - 27,306
- 130,610

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 9) - 2,203,907

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 1,923,907

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans - 57,500

Amounts falling due between one and two years:
Bank loans - 70,000

ASA CONSORTIUM LIMITED (REGISTERED NUMBER: 04391361)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


9. LOANS - continued
2023 2022
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years - 210,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 1,923,907

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 2,261,407

The company's loans are secured by way of fixed charges over the investment properties.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

12. RESERVES
Retained Non-distributable
earnings reserves Totals
£    £    £   

At 1 April 2022 1,608,540 3,672,979 5,281,519
Deficit for the year (1,410,288 ) (1,410,288 )
Transfers (198,352 ) 198,352 -
Eliminated on disposals - (3,871,331 ) (3,871,331 )
At 31 March 2023 (100 ) - (100 )

Non-distributable reserves represent cumulative unrealised fair value movements on investment properties net of provisions for deferred taxation.

Transfers between retained earnings and non-distributable reserves represent the unrealised fair value movements on investment properties net of provisions for deferred taxation in the current year.

ASA CONSORTIUM LIMITED (REGISTERED NUMBER: 04391361)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


13. RELATED PARTY DISCLOSURES

The Company's related parties, the nature of the relationship and the extent of the transactions with them are summarised below:

20232022
£   £   
Amounts owed by/(to) J A Blake (Director)-(4,180)

Amounts owed by/(to) Johns' Yard Limited (Group Undertaking)-2,328
Amounts owed by/(to) Sussex Property Investments Limited (Group
Undertaking)

-

385,302

Management fees paid to connected undertakings8,600

Connected Undertakings:
A company having the same or predominantly the same shareholders and or Board of Directors but which neither is a parent, subsidiary, fellow subsidiary nor associated company.

Group reorganisation:
On 25 January 2023, the company transferred all its investment properties valued at £7,615,000 at their original cost of £3,418,030 to Johns' Yard Limited (the holding company).

These transfers were carried out as part of the group's reorganisation during the year whereby all the company's investment properties are now directly owned by Johns' Yard Limited (the holding company) which has taken over all remaining assets and liabilities of the company as at 31 March 2023.

As part of the reorganisation, the intercompany balances, owing from John's Yard Limited £1,370,622 were written off.

14. ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent undertaking is Johns' Yard Limited.

The registered office of Johns' Yard Limited is Ratoath House, Hazelwood Close, Storrington, West Sussex, RH20 3HX, England.