Company No:
Contents
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Investments | 3 |
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| 412,216 | 412,725 | |||
| Current assets | ||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| 38,111 | 3,375,440 | |||
| Creditors: amounts falling due within one year | 5 | (
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| Net current assets | 30,986 | 3,368,315 | ||
| Total assets less current liabilities | 443,202 | 3,781,040 | ||
| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 6 |
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| Capital redemption reserve |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Consolidated Land Investments Limited (registered number:
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D Solomon
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Consolidated Land Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in . The address of the Company's registered office is 35 Ballards Lane, London, N3 1XW.
The principal activity of the company continued to be the holding of property and investment dealing.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Group accounts exemption s400
The Company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Unlisted investments are stated at historic cost less provision for permanent diminution in value. Provisions for permanent diminution of unlisted investments are taken to the profit and loss account.
Listed investments are treated as current and are stated at the lower of cost and net realisable value at the close of business on the balance sheet date. Any provisions for depreciation in value are taken to the profit and loss account.
Investment income comprises income and realised gains from investment holdings. Income is accounted for on a receivable basis. Dividends are recognised on the date on which the related investment is marked ex-dividend. Interest, both receivable and payable, is accrued up to the balance sheet date. Realised gains or losses represent the difference between proceeds of disposal and original cost less any prior provision for permanent diminution in value.
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.
Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including trade and other creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the company during the year, including directors |
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| Listed investments | Other investments | Total | |||
| £ | £ | £ | |||
| Cost or valuation before impairment | |||||
| At 01 January 2024 |
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| Additions |
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| Disposals |
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| Movement in fair value |
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| At 31 December 2024 |
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| Carrying value at 31 December 2024 |
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| Carrying value at 31 December 2023 |
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| £ | £ | ||
| VAT recoverable |
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| Other debtors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Accruals |
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| Other creditors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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Other reserves represent a capital redemption reserve of £3,333.
The profit and loss account represents cumulative profit and losses net of distributions to shareholders.
The company is a wholly owned subsidiary of CLI (UK) Limited and as such has taken advantage of the exemption permitted by Section 33 ‘Related party disclosures’ not to provide disclosures of transactions entered into with other wholly owned members of the group.
Included within other debtors is a balance of £4,716 (2023: £4,716) due from Heathside Investments Limited, a company controlled by Sir H Solomon.
The ultimate controlling party is D Solomon by virtue of his shareholding.