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Company registration number: 06717705







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


SCHOFIELD LOTHIAN LIMITED






































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SCHOFIELD LOTHIAN LIMITED
 


 
COMPANY INFORMATION


Directors
S. N. E. Barber 
D. Chabert D'Hieres 
K. F. A. Corcoran 
M. Korvin (appointed 4 December 2023)
M. J. Upton 




Registered number
06717705



Registered office
Innovation Centre 1 Evoluion Park
Haslingden Road

Blackburn

BB1 2FD





 


SCHOFIELD LOTHIAN LIMITED
 



CONTENTS



Page
Statement of financial position
1
Notes to the financial statements
2 - 5


 


SCHOFIELD LOTHIAN LIMITED
REGISTERED NUMBER:06717705



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
16,259

  
-
16,259

Current assets
  

Debtors: amounts falling due after more than one year
 5 
-
18,000

Debtors: amounts falling due within one year
 5 
829,074
3,395,446

Cash at bank and in hand
  
24,585
233,794

  
853,659
3,647,240

Creditors: amounts falling due within one year
 6 
-
(2,769,395)

Net current assets
  
 
 
853,659
 
 
877,845

Total assets less current liabilities
  
853,659
894,104

  

Net assets
  
853,659
894,104


Capital and reserves
  

Called up share capital 
 7 
1,000
1,000

Capital redemption reserve
  
151
151

Profit and loss account
  
852,508
892,953

  
853,659
894,104


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 have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with 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 by: 




................................................
D. Chabert D'Hieres
Director

Date: 10 September 2024

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 


SCHOFIELD LOTHIAN LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Schofield Lothian Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office and the company's registered number is disclosed on the company information page.
The Company's functional and presentational currency is GBP, rounded to the nearest £1. 

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.

The following principal accounting policies have been applied:

 
2.2

Going concern

Schofield Lothian Limited transferred all of its trade and assets to its ultimate parent company on 1 January 2023 and as such has not traded during the year. The directors will proceed to strike the company off in due course. The going concern basis has not been applied to the preparation of these financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 2

 


SCHOFIELD LOTHIAN LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%
Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
-
69

Page 3

 


SCHOFIELD LOTHIAN LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£





At 1 January 2023
85,398
14,150
99,548


Disposals
(85,398)
(14,150)
(99,548)



At 31 December 2023

-
-
-





At 1 January 2023
83,289
-
83,289


Disposals
(83,289)
-
(83,289)



At 31 December 2023

-
-
-



Net book value



At 31 December 2023
-
-
-



At 31 December 2022
2,109
14,150
16,259


5.


Debtors

2023
2022
£
£

Due after more than one year

Deferred tax
-
18,000

-
18,000


2023
2022
£
£

Due within one year

Trade debtors
-
1,230,503

Amounts owed by group undertakings
780,951
1,500,000

Other debtors
-
664,943

Tax recoverable
48,123
-

829,074
3,395,446


Page 4

 


SCHOFIELD LOTHIAN LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
85,314

Amounts owed to group undertakings
-
1,667,112

Corporation tax
-
40,204

Other taxation and social security
-
625,338

Accruals and deferred income
-
351,427

-
2,769,395



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary A Shares shares of £1.00 each
1,000
1,000



8.


Parent company

The immediate parent undertaking is C Cubed Limited. The address of its registered office is Innovation Centre 1 Evolution Park, Haslingden Road, Blackburn, England, BB1 2FD. The ultimate parent undertaking is Assystem Energy & Infrastructure Limited a company registered in England & Wales.


9.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 10 September 2024 by A Hookway (Senior statutory auditor) on behalf of Menzies LLP.

Page 5