Caseware UK (AP4) 2022.0.179 2022.0.179 The preparation of the financial statements requires management to make significant judgments and estimates. The items in the financial statements where these judgments and estimates have been made include: The preparation of the financial statements requires management to make significant judgments and estimates. The items in the financial statements where these judgments and estimates have been made include: Going concern As described in the basis of preparation and going concern in Note 2.2 above, the validity of the going concern basis is dependent upon assurances provided from its ultimate parent company, that it will provide financial support for a period not less than 12 months from the date of signing of the financial statements. The Directors have reasonable expectation that the ultimate parent company will fulfil these assurances. For this reason the Directors continue to adopt the going concern basis of accounting in preparing the financial statements.Going concern As described in the basis of preparation and going concern in Note 2.2 above, the validity of the going concern basis is dependent upon assurances provided from its ultimate parent company, that it will provide financial support for a period not less than 12 months from the date of signing of the financial statements. The Directors have reasonable expectation that the ultimate parent company will fulfil these assurances. For this reason the Directors continue to adopt the going concern basis of accounting in preparing the financial statements. In preparing the financial statements the directors consider it appropriate to continue to use the going concern assumption, which assumes the Company will have sufficient resources to enable it to meet its liabilities as they fall due, including adequate financial support. There were no significant changes in the company's principal activity during the financial year 2023 and the directors are not aware at the date of this report of any likely major changes in either the nature or level of the Company's activities in the next year. The directors believe that the going concern basis of preparation is appropriate for the financial statements. The financial statements do not include the adjustments that would result if the Company were unable to continue as a going concern. In preparing the financial statements the directors consider it appropriate to continue to use the going concern assumption, which assumes the Company will have sufficient resources to enable it to meet its liabilities as they fall due, including adequate financial support. There were no significant changes in the Company's principal activity during the financial year 2023 and the directors are not aware at the date of this report of any likely major changes in either the nature or level of the company's activities in the next year. The directors believe that the going concern basis of preparation is appropriate for the financial statements. The financial statements do not include the adjustments that would result if the Company were unable to continue as a going concern.Includes all current and prior period retained profit and losses.2022-04-01true00truefalse 01068944 2022-04-01 2023-03-31 01068944 2021-04-01 2022-03-31 01068944 2023-03-31 01068944 2022-03-31 01068944 1 2022-04-01 2023-03-31 01068944 d:CompanySecretary1 2022-04-01 2023-03-31 01068944 d:Director1 2022-04-01 2023-03-31 01068944 d:Director1 2023-03-31 01068944 d:Director2 2022-04-01 2023-03-31 01068944 d:Director3 2022-04-01 2023-03-31 01068944 d:RegisteredOffice 2022-04-01 2023-03-31 01068944 d:Agent1 2022-04-01 2023-03-31 01068944 c:UKTax 2022-04-01 2023-03-31 01068944 c:UKTax 2021-04-01 2022-03-31 01068944 c:ShareCapital 2022-04-01 2023-03-31 01068944 c:ShareCapital 2023-03-31 01068944 c:ShareCapital 2022-03-31 01068944 c:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 01068944 c:RetainedEarningsAccumulatedLosses 2023-03-31 01068944 c:RetainedEarningsAccumulatedLosses 2022-03-31 01068944 d:OrdinaryShareClass1 2022-04-01 2023-03-31 01068944 d:OrdinaryShareClass1 2021-04-01 2022-03-31 01068944 d:OrdinaryShareClass1 2023-03-31 01068944 d:EntityHasNeverTraded 2022-04-01 2023-03-31 01068944 d:FRS102 2022-04-01 2023-03-31 01068944 d:Audited 2022-04-01 2023-03-31 01068944 d:FullAccounts 2022-04-01 2023-03-31 01068944 d:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

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Financial Statements
Standard Commercial Tobacco Services (UK) Limited
For the year ended 31 March 2023





































Registered number: 01068944

 
Standard Commercial Tobacco Services (UK) Limited
 

Company Information


Directors
Joan Goulden (resigned 30 September 2023)
Simon Mark Usher 
Paul Thornton 




Company secretary
Amanda Kaberle



Registered number
01068944



Registered office
Building A
Riverside Way

Camberley

Surrey

GU15 3YL

United Kingdom




Independent auditor
Grant Thornton
Chartered Accountants & Statutory Auditors

13-18 City Quay

Dublin 2

D02 ED70




Bankers
Lloyds TSB Bank plc
49 High Street

Godalming

Surrey

GU7 1AT

United Kingdom





 
Standard Commercial Tobacco Services (UK) Limited
 

Contents



Page
Directors' report
1 - 2
Directors' responsibilities statement
3
Independent auditor's report
4 - 7
Statement of comprehensive income
8
Statement of financial position
9
Notes to the financial statements
10 - 13


 
Standard Commercial Tobacco Services (UK) Limited
 
 
Directors' report
For the year ended 31 March 2023

The directors present their report and the financial statements for the year ended 31 March 2023.

Principal activity

The principal activity of the company was the provision of administration services to companies in the Standard Commercial Corporation group. Following the merger of this group with Dimon Inc in 2005, the Company ceased trading on 31 March 2006.

Directors

The directors who served during the year were:

Joan Goulden (resigned 30 September 2023)
Simon Mark Usher 
Paul Thornton 

Going concern

In preparing the financial statements the directors consider it appropriate to continue to use the going concern assumption, which assumes the Company will have sufficient resources to enable it to meet its liabilities as they fall due, including adequate financial support.
There were no significant changes in the company's principal activity during the financial year 2023 and the directors are not aware at the date of this report of any likely major changes in either the nature or level of the Company's activities in the next year. 
 
The directors believe that the going concern basis of preparation is appropriate for the financial statements. The financial statements do not include the adjustments that would result if the Company were unable to continue as a going concern. 

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Post balance sheet event

There are no subsequent events affecting the Company since the year end.

Auditor

The auditor, Grant Thornton, continues in office in accordance with section 485 of the Companies Act 2006.

Page 1

 
Standard Commercial Tobacco Services (UK) Limited
 

Directors' report (continued)
For the year ended 31 March 2023


Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





Simon Mark Usher
Director

Date: 9 November 2023

Page 2

 
Standard Commercial Tobacco Services (UK) Limited
 

Directors' responsibilities statement
For the year ended 31 March 2023

The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

 In preparing these financial statements, the directors are required to:

select suitable accounting policies for the company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

On behalf of the board:



 
Simon Mark Usher
Director

Date:  9 November 2023

Page 3

 
 
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Independent auditor's report to the members of Standard Commercial Tobacco Services (UK) Limited
 
Opinion


We have audited the financial statements of Standard Commercial Tobacco Services (UK) Limited (the 'Company') which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity for the year ended 31 March 2023, and the related notes to the financial statements, including a summary of significant accounting policies.  

The financial reporting framework that has been applied in the preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion, Standard Commercial Tobacco Services (UK) Limited's financial statements:


give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice of the assets, liabilities and financial position of the company as at 31 March 2023 and of its financial performance for the year then ended; and


have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) ('ISAs (UK)') and applicable law. Our responsibilities under those standards are further described in the 'Responsibilities of the auditor for the audit of the financial statements' section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, namely the FRC's Ethical Standard and the ethical pronouncements established by Chartered Accountants Ireland, applied as determined to be appropriate in the circumstances of the entity. We have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from the date when the financial statements are authorised for issue.

Our responsibilities, and the responsibilities of the directors, with respect to going concern are described in the relevant sections of this report.




Page 4

 
 
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Independent auditor's report to the members of Standard Commercial Tobacco Services (UK) Limited (continued)
 
Other information


Other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon, including the Directors' report. The directors are responsible for the other information. Our opinion on the financial statements does not cover the information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.


In connection with our audit of the financial statementsour responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies in the financial statements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:
the information given in the Directors' report for the year for which the financial statements are prepared is consistent with the financial statements, and 
the Directors' report has been prepared in accordance with applicable legal requirements. 

Matters on which we are required to report by exception


In the light of the knowledge and understanding of the company and its environment we have obtained in the course of the audit, we have not identified material misstatements in the Directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of directors' remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit; or

the directors were not entitled to take advantage of the small companies' exemptions from the requirement to prepare a strategic report or in preparing the Directors' report.

Page 5

 
 
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Independent auditor's report to the members of Standard Commercial Tobacco Services (UK) Limited (continued)

Responsibilities of management and those charged with governance for the financial statements
 

Management is responsible for the preparation of the financial statements which give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice, including FRS102 and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
 
In preparing the financial statements, management is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intend to liquidate the company or to cease operations, or has no realistic alternative but to do so.


Those charged with governance are responsible for overseeing the company's financial reporting process.

Responsibilities of the auditor for the audit of the financial statements
 

The objectives of an auditor are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes their opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of an auditor's responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with ISAs (UK).

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to compliance with data protection and Employment laws, Health and Safety Regulation and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulation that have a direct impact on the preparation of the financial statements such as Companies Act 2006 and UK tax legislation. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial performance and management bias through judgements and assumptions in significant accounting estimates, in particular in relation to significant one-off or unusual transactions. We apply professional scepticism through the audit to consider potential deliberate omission or concealment of significant transactions, or incomplete/inaccurate disclosures in the financial statements.
 
Page 6

 
 
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Independent auditor's report to the members of Standard Commercial Tobacco Services (UK) Limited (continued)

Responsibilities of the auditor for the audit of the financial statements (continued)

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud (continued)

In response to these principal risks, our audit procedures included but were not limited to:
inquiries of management and board on the policies and procedures in place regarding compliance with laws and regulations, including consideration of known or suspected instances of non-compliance and whether they have knowledge of any actual, suspected or alleged fraud;
inspection of the company’s legal correspondence and review of minutes of board meetings during the year to corroborate inquiries made;
gaining an understanding of the internal controls established to mitigate risk related to fraud;
discussion amongst the engagement team in relation to the identified laws and regulations and regarding the risk of fraud, and remaining alert to any indications of non-compliance or opportunities for fraudulent manipulation of financial statements throughout the audit;
identifying and testing journal entries to address the risk of inappropriate journals and management override of controls;
designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing;
challenging assumptions and judgements made by management in their significant accounting estimates; and
review of the financial statements disclosures to underlying supporting documentation and inquiries of management.

The primary responsibility for the prevention and detection of irregularities including fraud rests with those charged with governance and management. As with any audit, there remains a risk of non-detection or irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or override of internal controls. 

The purpose of our audit work and to whom we owe our responsibilities
 

This report is made solely to the company’s members, as a body, in accordance with chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.



Tracey Sullivan (Senior statutory auditor)
for and on behalf of
Grant Thornton
Chartered Accountants &
Statutory Auditors
13-18 City Quay
Dublin 2

 
Date: 
9 November 2023
Page 7

 
Standard Commercial Tobacco Services (UK) Limited
 

Statement of comprehensive income
For the year ended 31 March 2023

2023
2022
Note
£
£

  

Administrative expenses
  
-
(46)

Other operating income
  
-
3,492

Operating profit
  
-
3,446

Tax on profit
 4 
-
-

Profit for the year
  
-
3,446

The company has not traded during the year. During this period, the company received no income and incurred no expenditure and therefore made neither profit or loss.
All amounts relate to continuing operations.
There were no other comprehensive income for 2023 (2022: £Nil).

The notes on pages 10 to 13 form part of these financial statements.

Page 8

 
Standard Commercial Tobacco Services (UK) Limited
Registered number:01068944

Statement of financial position
As at 31 March 2023

2023
2022
Note
£
£

  

  

Net assets
  
 
-
 
-


Capital and reserves
  

Called up share capital 
 5 
100
100

Profit and loss account
 6 
(100)
(100)

Shareholders' deficit
  
-
-


The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 November 2023.




Simon Mark Usher
Director

The notes on pages 10 to 13 form part of these financial statements.

Page 9

 
Standard Commercial Tobacco Services (UK) Limited
 
 
Notes to the financial statements
For the year ended 31 March 2023

1.


General information

Standard Commercial Tobacco Services (UK) Limited ("the company") is a private company incorporated in England and Wales under the Companies Act. Its registered office is Building A, Riverside Way, Camberley, Surrey, GU15 3YL. 
The principal activity of the Company was the provision of administration services to companies in the Standard Commercial Corporation group. Following the merger of this group with Dimon Inc in 2005, the Company ceased trading on 31 March 2006. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies (see note 3).

The financial statements are presented in Sterling (£). 

 
2.2

Going concern

In preparing the financial statements the directors consider it appropriate to continue to use the going concern assumption, which assumes the Company will have sufficient resources to enable it to meet its liabilities as they fall due, including adequate financial support.
There were no significant changes in the Company's principal activity during the financial year 2023 and the directors are not aware at the date of this report of any likely major changes in either the nature or level of the company's activities in the next year. 
The directors believe that the going concern basis of preparation is appropriate for the financial statements. The financial statements do not include the adjustments that would result if the Company were unable to continue as a going concern. 

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.
Page 10

 
Standard Commercial Tobacco Services (UK) Limited
 

Notes to the financial statements
For the year ended 31 March 2023

2.Accounting policies (continued)


2.3
Taxation (continued)

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of financial position date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make significant judgments and estimates. The items in the financial statements where these judgments and estimates have been made include:

Going concern
As described in the basis of preparation and going concern in Note 2.2 above, the validity of the going concern basis is dependent upon assurances provided from its ultimate parent company, that it will provide financial support for a period not less than 12 months from the date of signing of the financial statements. The Directors have reasonable expectation that the ultimate parent company will fulfil these assurances. For this reason the Directors continue to adopt the going concern basis of accounting in preparing the financial statements.


4.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
-
-


Taxation on profit on ordinary activities
-
-
Page 11

 
Standard Commercial Tobacco Services (UK) Limited
 
 
Notes to the financial statements
For the year ended 31 March 2023
 
4.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is equal to (2022: lower than) the standard rate of corporation tax in the UK of19% (2022:19%). The differences are explained below:

2023
2022
£
£


Profit on ordinary activities before tax
-
3,446


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 19% (2022: 19%)
-
655

Effects of:


Expenses not deductible for tax purposes
-
9

Loss relief
-
(664)

Total tax charge for the year
-
-


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


5.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1.00 each
100
100



6.


Reserves

Called up share capital
Represents the nominal value of shares that have been issued. 

Profit and loss account

Includes all current and prior period retained profit and losses. 


7.


Post balance sheet events

There are no subsequent events affecting the company since the year end.

Page 12

 
Standard Commercial Tobacco Services (UK) Limited
 
 
Notes to the financial statements
For the year ended 31 March 2023

8.


Controlling party

The ultimate parent company is Pyxus International Inc. (formerly Alliance One International Inc.), a company incorporated in the United States of America. The largest and smallest group in which the results of the Company are consolidated is that headed by Pyxus International Inc. (formerly Alliance One International Inc.). Copies of the group financial statements of the ultimate parent company are available from The Corporate Secretary, Pyxus International Inc. (formerly Alliance One International Inc.), 8001 Aerial Center Parkway, PO Box 2009, Morrisville NC 27560, USA. 
Page 13