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REGISTERED NUMBER: 06900774 (England and Wales)










Unaudited Financial Statements

for the Period 1 April 2022 to 31 May 2023

for

Consolidated Assets Limited

Consolidated Assets Limited (Registered number: 06900774)






Contents of the Financial Statements
for the Period 1 April 2022 to 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Consolidated Assets Limited

Company Information
for the Period 1 April 2022 to 31 May 2023







DIRECTORS: Ms L K Higginbottom
Ms R Higginbottom





REGISTERED OFFICE: Suite 1.16 Great House
Off Rotherham Rd
Dinnington
Sheffield
South Yorkshire
S25 3QA





REGISTERED NUMBER: 06900774 (England and Wales)

Consolidated Assets Limited (Registered number: 06900774)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 339,987 130,065
Investments 5 3,936,419 -
Investment property 6 448,689 13,586,263
4,725,095 13,716,328

CURRENT ASSETS
Debtors 7 4,268,226 3,394,550
Cash at bank 10,117,916 -
14,386,142 3,394,550
CREDITORS
Amounts falling due within one year 8 2,234,636 1,834,695
NET CURRENT ASSETS 12,151,506 1,559,855
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,876,601

15,276,183

CREDITORS
Amounts falling due after more than one
year

9

(14,627,897

)

(8,384,284

)

PROVISIONS FOR LIABILITIES (48,058 ) (1,286,426 )
NET ASSETS 2,200,646 5,605,473

CAPITAL AND RESERVES
Called up share capital 6 6
Fair value reserve
(non distributable) 11 - 6,481,800
Retained earnings 2,200,640 (876,333 )
SHAREHOLDERS' FUNDS 2,200,646 5,605,473

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 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.

Consolidated Assets Limited (Registered number: 06900774)

Balance Sheet - continued
31 May 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 2 October 2024 and were signed on its behalf by:





Ms L K Higginbottom - Director


Consolidated Assets Limited (Registered number: 06900774)

Notes to the Financial Statements
for the Period 1 April 2022 to 31 May 2023

1. STATUTORY INFORMATION

Consolidated Assets 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 20% on cost and 10% on cost

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 period 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 represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods and is recognised in respect of all timing differences; although with certain exceptions. Timing differences are differences between taxable profit and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are only recognised to the extent that it is probable that they will be recoverable against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on investment property (and other non-depreciable tangible fixed assets) is measured using the tax rates and allowances which will apply to the sale of the asset. Amounts of current and deferred tax are generally recognised in profit or loss, except when they relate to items which are recognised in other comprehensive income or directly in equity and in such cases the amounts are also recognised in other comprehensive or equity as the case may be.

Consolidated Assets Limited (Registered number: 06900774)

Notes to the Financial Statements - continued
for the Period 1 April 2022 to 31 May 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Estimated accounts
The accounts are estimated and are subject to being amended.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 234,085
Additions 382,662
At 31 May 2023 616,747
DEPRECIATION
At 1 April 2022 104,020
Charge for period 172,740
At 31 May 2023 276,760
NET BOOK VALUE
At 31 May 2023 339,987
At 31 March 2022 130,065

Consolidated Assets Limited (Registered number: 06900774)

Notes to the Financial Statements - continued
for the Period 1 April 2022 to 31 May 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 May 2023 80,369
DEPRECIATION
At 1 April 2022 41,721
Charge for period 18,753
At 31 May 2023 60,474
NET BOOK VALUE
At 31 May 2023 19,895
At 31 March 2022 38,648

5. FIXED ASSET INVESTMENTS

Fixed asset investments represent a pooled investment portfolio. The market value is as shown on the balance sheet.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 13,586,263
Additions 448,689
Disposals (13,586,263 )
At 31 May 2023 448,689
NET BOOK VALUE
At 31 May 2023 448,689
At 31 March 2022 13,586,263

The directors consider the market value of the property at 31st May 2023 as stated above.

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 567 1,641,848
Other debtors 70,655 82,006
71,222 1,723,854

Consolidated Assets Limited (Registered number: 06900774)

Notes to the Financial Statements - continued
for the Period 1 April 2022 to 31 May 2023

7. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Other debtors 4,197,004 1,670,696

Aggregate amounts 4,268,226 3,394,550

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 11,192 10,000
Finance leases 15,927 15,927
Trade creditors 1,145,032 69,227
Taxation and social security 53,864 81,274
Other creditors 1,008,621 1,658,267
2,234,636 1,834,695

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 25,430 6,230,249
Finance leases 2,037 24,817
Other creditors 14,600,430 2,129,218
14,627,897 8,384,284

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 5,201,790

Consolidated Assets Limited (Registered number: 06900774)

Notes to the Financial Statements - continued
for the Period 1 April 2022 to 31 May 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Finance leases 17,964 40,744
Bank loans - 6,192,607
17,964 6,233,351

The Royal Bank of Scotland plc have the following security;-

A fixed charge created on 10th November 2014. Over registered freehold property known as Waterside Grange Care Home, Redwall Close, Dinnington, Sheffield, S25 3QA.

A fixed charge created on 10th November 2014 over Wood Hill Grange Care Home Grimesthorpe Road, Sheffield, S4 8LE.

A debenture created on 10th November 2014.

The company also provides a cross company guarantee for borrowings taken out by Wood Hill Heights Limited and Horizon Care Homes Limited.

This charge was satisfied during the period when the loan was repaid.

11. RESERVES
Fair
value
reserve
(non
distributable)
£   
At 1 April 2022 6,481,800
Movement (6,481,800 )

At 31 May 2023 -

Consolidated Assets Limited (Registered number: 06900774)

Notes to the Financial Statements - continued
for the Period 1 April 2022 to 31 May 2023

12. RELATED PARTY DISCLOSURES

The Higginbottom family

Shareholders in Consolidated Assets Limited.

Monies were loaned on an interest free basis.

Balance owed by the company excluding directors loans at 31st May 2023: £484,744 (2022: £496,870).


Directors loans

Monies were loaned by the directors to the company on an interest free basis.

The balances owing by the company at 31st May 2023:-

Ms L K Higginbottom: £269,645, (2022: £225.915).

Ms R Higginbottom: £208,596, (2022: £184,285).

13. ULTIMATE CONTROLLING PARTY

There is no overall controlling party.