CONSORT HEALTHCARE (TAMESIDE) HOLDINGS LIMITED

• ⚠

  Material uncertainty over going concern

  the non-compliance of the debt covenants at 30 June 2024 along with the potential for insufficient cashflows due to unknown costs arising from future surveys and investigations, indicate the existence of a material uncertainty due to insufficient cashflows that may cast significant doubt about the Group's ability to continue as a going concern, and therefore, that it may be unable to realise its assets and discharges its liabilities in the normal course of business.

• ◆

  2 PSCs ceased in last 24 months

  Significant control changed hands — see the Ownership section.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Johnston Carmichael LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“the non-compliance of the debt covenants at 30 June 2024 along with the potential for insufficient cashflows due to unknown costs arising from future surveys and investigations, indicate the existence of a material uncertainty due to insufficient cashflows that may cast significant doubt about the Group's ability to continue as a going concern, and therefore, that it may be unable to realise its assets and discharges its liabilities in the normal course of business.”

Group structure

1. CONSORT HEALTHCARE (TAMESIDE) HOLDINGS LIMITED · parent
   1. Consort Healthcare (Tameside) Plc 100% · Great Britain · PFI Operator

Significant events

• “Following a dispute with the Trust and the outcome of an adjudication in the period, the Company has signed a settlement agreement with the Trust. This is discussed in more detail in the post balance sheet events discussion in note 26.”
• “As at 30 June 2024 there was an Event of Default under the terms of the Bond financing agreements which would allow the controlling creditor to recall the senior funding, as detailed in the going concern note within the Directors' report.”
• “After the reporting date of 30 June 2024, Project Company announced that the Restructuring Plan, which was awaiting the Sanction Hearing with the Courts, would be stayed.”
• “On 31 July 2024, Project Company made a further announcement that a call option agreement had been entered into between the Controlling Creditor and the Shareholder, which enabled the Controlling Creditor to purchase the entire share capital and subordinated loan stock of the Project Company's ultimate holding company, Consort Healthcare (Tameside) Holdings Limited, from the Shareholder for a nominal amount of £1.50.”
• “On 30 August 2024 this option was exercised, and the entire share capital and subordinated loan stock was purchased by Tameside PFI Holdings Limited, a related party of the Controlling Creditor.”
• “Following the exercise of the call option agreement, a Standstill Agreement was entered into between Project Company and the Trust for a period of three months to enable discussions around a settlement to be resumed. This Standstill Agreement was subsequently extended for a further two months until 1 December 2024.”
• “On 25 October 2024, a Deed of Release was agreed between the Shareholder, Tameside PFI Holdings Limited, and Project Company's Subordinated Loan Stockholder, Consort Healthcare (Tameside) Intermediate Limited, to release all accrued indebtedness, as detailed in Note 14, related to the subordinated loan notes.”
• “On 2 December 2024, a Deed of Settlement and Variations (Settlement Agreement) was executed between Project Company and Trust, which revised certain obligations within the PFI Contract.”
• “On 31 March 2025, the Project Company entered into a global deed of amendment with the Controlling Creditor to put in place a package of short to medium term relaxations and/or waivers of the existing financial covenant requirements.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

3

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.