SEDGWICK_SCOTT_LIMITED_(F - Accounts

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements on estimation uncertainty.

Sedgwick Scott Limited (formerly Cark Manor Limited) is a private company limited by shares incorporated in England and Wales. The registered office is Cark Manor, Cark in Cartmel, Grange-Over-Sands, Cumbria, England, LA11 7PG.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis. The Company has net current liabilities of £true2,458,964 at 30 June 2022 (2021: £1,439,821) and net assets of £1,132,585 at 30 June 2022 (2021: £1,494,739). The Company has received assurances from Tangerine Group Holdings Limited, a company which is under the ultimate control of the same controlling shareholder, D A Haythornthwaite, that they can continue to provide financial support to enable the Company to continue trading for a period of at least 12 months from the date of approving these financial statements.

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

Sales are recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards have been transferred to the customer.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

The average monthly number of persons (including directors) employed by the company during the year was:

No directors received remuneration from the Company in respect of services provided in either the current or prior year.

The amounts owed to group undertakings are interest free and repayable on demand.

The company has provided a charge over the company property at Cark Manor to the company bankers.

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.

This reserve reflects cumulative profits and losses net of distributions to owners.

The Company is a 100% owned subsidiary of Tangerine Leisure Limited.

Tangerine Leisure Limited heads up a small group and is therefore not required to prepare consolidated accounts.

The Company is under the ultimate control of D A Haythornthwaite.