REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 April 2022 to 31 May 2023 |
for |
Consolidated Assets Limited |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Consolidated Assets Limited (Registered number: 06900774) |
Balance Sheet |
31 May 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve |
(non distributable) | 11 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery etc | - |
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 |
Additions |
At 31 May 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for period |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 March 2022 |
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 |
DEPRECIATION |
At 1 April 2022 |
Charge for period |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 March 2022 |
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 |
Additions |
Disposals | ( |
) |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 March 2022 |
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 |
Other debtors |
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 |
Aggregate amounts |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Finance leases |
Trade creditors |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Finance leases |
Other creditors |
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 |
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 |
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. |