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Registered number: SC059276
SODEXO REMOTE SITES SCOTLAND LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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SODEXO REMOTE SITES SCOTLAND LIMITED
COMPANY INFORMATION
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Sodexo Corporate Services (No.2) Limited
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Neo Space, Riverside Drive,
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Chartered Accountants and Statutory Auditor
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SODEXO REMOTE SITES SCOTLAND LIMITED
CONTENTS
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Directors' Responsibilities Statement
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Independent Auditor's Report
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Statement of Comprehensive Income
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Statement of Financial Position
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Statement of Changes in Equity
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Notes to the Financial Statements
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SODEXO REMOTE SITES SCOTLAND LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2025
The directors present their Strategic Report and audited financial statements for the year ended 31 August 2025.
Principal activities
The principal activities of Sodexo Remote Sites Scotland Limited ("the Company") in the year are the provision of integrated services including catering, accommodation and facilities management to the offshore and onshore oil industry.
Performance of the business
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As shown in the Statement of Comprehensive Income, the Company’s sales have increased to £26,243,000 (2024: £21,983,000) with an operating profit of £414,000 for the period (2024: £698,000).
The increase in turnover is driven by an increase in large one-off project works and high accommodation volumes across various contracts. Operating margin has reduced as a result of group recharges calculated as a percentage of turnover.
The Statement of Financial Position shows that Company's net assets have reduced from £1,576,000 at 31 August 2024 to £1,120,000 at 31 August 2025.
Future developments
The Company is exploring new opportunities within the renewable energy sector across the UK, in providing facilities management services in accommodation camps.
Financial key performance indicators
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Key performance indicators are as follows:
2025 2024
Turnover growth 19.4% (27.5)%
Operating profit margin 1.6% 3.2%
The growth in turnover and reduction in operating margin for the current year has been explained above in the performance of the business.
The Company’s over-riding objective is to become the premier global outsourcing expert in integrated services including catering, accommodation and facilities management market with energy & resources clients.
There are five elements to the Company’s strategy:
• Accelerate growth
• Improve operating profits, margins and cash;
• Drive a high performance culture
• Focus on data and insight through systems optimisation and;
• Focus on commercial excellence
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SODEXO REMOTE SITES SCOTLAND LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
Principal risks and uncertainties
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The Company is exposed to several principal risks and uncertainties, which are monitored and managed through its established risk management framework. The most significant risks that may adversely affect the Company’s financial performance, operations, and reputation are summarised below:
Food services and workplace safety risks
The health and safety of colleagues, clients, and customers is a core value of the Company. Strategic direction, performance measurement, and training are overseen by the Quality Safety Health & Environment (“QSHE”) Board. The Company has embedded a ‘Zero Harm Mindset’ culture, which is continuously monitored and enhanced through targeted actions across all operations.
Geopolitical and macroeconomic risks
Instability in macroeconomic, geopolitical, and UK political environments may expose the Company to fluctuations in the cost and supply of food, labour, and other goods. Many contracts include clauses that allow for price adjustments or menu changes. During periods of inflation, proactive planning for inflation recovery with clients, tariff management, cost optimisation, and securing supply at competitive prices are critical to maintaining margins.
Technology and information security risks
The Company is subject to external cyber threats, such as phishing and malware attacks, which have the potential to disrupt key systems, infrastructure, or compromise confidential data. Such incidents could impact the Company’s ability to deliver services. The Information & Security Committee provides oversight and direction for policies and controls designed to mitigate these risks and ensures that recovery plans are in place to minimize disruption in the event of a breach.
Competition and retention risks
The Company operates in a highly competitive marketplace where there is a risk that the Company could lose business to its competitors. The Company manages this risk by having a diversified portfolio of business, supported by innovation and service excellence. It focuses on building strong relationships with clients and customers to deliver high levels of retention and win new contracts.
Regulatory compliance risks
The Company is subject to a broad range of laws and regulations, including those relating to labour, corporate governance, health, safety, and the environment. Robust internal governance ensures compliance and effective management of regulatory changes. Anticipated changes in labour laws are closely monitored following recent government changes. The ‘Speak Up’ programme provides employees and partners with a confidential mechanism to report activities or behaviours that contravene the Company’s Code of Conduct or are unlawful.
Climate-related risks
The Company is exposed to various climate-related risks, including both physical and transition risks. Physical risks include drought, extreme temperatures, humidity changes and wider climate driven impacts on agriculture. Transition risks arise from evolving environmental regulations, technological changes, market expectations and reputational pressures. These risks are monitored at a Sodexo UK&I level through a structured governance framework in which climate matters are overseen via the ESG Committee. Further information can be found on our website: https://uk.sodexo.com /social-impact/planet /net-zero.
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SODEXO REMOTE SITES SCOTLAND LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
Principal risks and uncertainties (continued)
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Service delivery and contractual compliance risks
The Company engages with a diverse portfolio of clients across multiple sectors. Non-compliance with contractual terms, including deficiencies in service delivery, may result in loss of business, reputational damage, and potential claims against the Company. To mitigate these risks, the Company operates a clearly defined suite of services and maintains a robust control framework that monitors service performance against contractual requirements.
People risks
As a people-centric organisation, the Company recognises that the growth, engagement, and retention of its workforce are central to achieving strategic objectives and sustainable growth. Insufficient attention to employee engagement, retention, and development may result in reduced service quality, diminished client satisfaction and retention, and the loss of talented employees to competitors.
The Company addresses these risks through comprehensive HR programmes, including training, performance management, strategic workforce planning, employee value proposition initiatives, and engagement surveys.
Liquidity risk
The Company manages its cash to ensure that there are sufficient liquid resources to meet the operational needs of its business activities.
Credit risk
Receivable balances are monitored on an ongoing basis to ensure that the credit lines offered are appropriate and provision is made for doubtful debts were considered necessary, although the majority of the Company's clients are of large company status and of long-standing repute.
The Company’s principal financial risk exposure is to a level of credit risk associated with its intercompany debtors, which the directors consider to be normal. The directors consider that no significant credit risk arises from such balances as they are supported by the wider group.
The Company forms a part of the Sodexo UK and Ireland group of companies, together the “UK&I Group”. The UK&I Group utilise a cash pooling facility that the Company can utilise and the directors consider that this mitigates the liquidity risk.
This report was approved by the board and signed on its behalf.
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SODEXO REMOTE SITES SCOTLAND LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 AUGUST 2025
The directors present their report and the financial statements for the year ended 31 August 2025.
Matters covered in the Strategic Report
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As permitted by paragraph 1A of Schedule 7 to the Large and Medium-Sized Companies and Groups (Accounts and Reports) Regulations 2008 certain matters which are required to be disclosed in the Directors’ Report have been omitted as they are included in the Strategic Report on pages 1 to 3. These matters relate to the performance of the business review, principal risks and uncertainties, financial key performance indicators and future developments.
The financial statements have been prepared on a going concern basis, which the directors consider appropriate for the following reasons:
The Company is part of the Sodexo UK and Ireland group of companies (the “UK&I Group”), which in turn forms part of the wider Sodexo Group, headed by Sodexo S.A., a company incorporated in France. The UK&I Group’s principal activities include the provision of facilities management and catering services across various sectors such as government, healthcare, corporate services, sports and leisure and education. Accordingly, the Company’s cash flows are influenced by the continuity, volume, and pricing of these operations.
The Company meets its day-to-day working capital requirements through operational cash flows and intercompany loan arrangements within the UK&I Group. The UK&I Group has demonstrated resilience in the face of economic challenges. This has been achieved through disciplined cash and balance sheet management, strong contract retention, a diversified client base across both public and private sectors, and robust inflation management processes. Furthermore, the UK&I Group continues to pursue organic growth opportunities, with several new contracts in the pipeline. Nonetheless, it remains vigilant and prepared for potential macroeconomic changes through sound commercial management and prudent cost control.
In determining the appropriateness of the going concern basis, the directors have reviewed cash flow and profit forecasts for the UK&I Group covering a period of at least 12 months from the date of approval of these financial statements. These forecasts incorporate a severe but plausible downside scenario, which assumes a deterioration in gross margin due to operational challenges, a reduction in revenue from non-renewal of key contracts, and under-recovery of inflation. In addition, this scenario does not factor in any mitigating actions that management could implement. Even under these conditions, the forecasts indicate that the UK&I Group would remain resilient.
Furthermore, Sodexo S.A., which currently holds a Baa1 credit rating from Moody’s Investors Service, has confirmed through a letter of support its intention to continue providing financial resources as the Company may require during the going concern assessment period. As is the case for any entity that relies on intragroup financial support, the directors acknowledge that this support cannot be guaranteed indefinitely. However, at the date of approval of these financial statements, the directors have no reason to believe that such support will not continue.
Based on this assessment, the directors are confident that the Company will have sufficient resources to meet its obligations as they fall due for at least 12 months from the date of approval of the financial statements. Accordingly, the financial statements have been prepared on a going concern basis.
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SODEXO REMOTE SITES SCOTLAND LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
The profit for the year, after taxation, amounted to £542,000 (2024: £593,000).
Dividends totalling £1,000,000 were declared and paid during the year (2024: £Nil).
The directors who served during the year were:
Sean Haley (resigned 31 December 2024)
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Amolak Dhariwal (appointed 1 January 2025)
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On 16 March 2026, Paul Anstey was appointed as director of the Company.
The Company made no political donations or incurred any political expenditure during the year (2024: £Nil).
Qualifying third party indemnity provisions
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Qualifying indemnity insurance was in place for the directors during the year which was also in force at the date of this report.
Disclosure of information to auditor
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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
∙that 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.
The auditor, Forvis Mazars LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf by:
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SODEXO REMOTE SITES SCOTLAND LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2025
The directors are responsible for preparing the Strategic Report, 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 101 ‘Reduced Disclosure Framework’. 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 and then apply them consistently;
∙make judgements 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 2006. They 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.
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SODEXO REMOTE SITES SCOTLAND LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SODEXO REMOTE SITES SCOTLAND LIMITED
Opinion
We have audited the financial statements of Sodexo Remote Sites Scotland Limited (“the Company”) for the year ended 31 August 2025 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and notes to the financial statements, including a summary of material accounting policy information.
The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 101 “Reduced Disclosure Framework" (United Kingdon Generally Accepted Accounting Practice).
In our opinion, the financial statements:
∙give a true and fair view of the state of the Company's affairs as at 31 August 2025 and of its profit for the year then ended;
∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; 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 “Auditor’s responsibilities 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 UK, including the FRC’s Ethical Standard, and 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 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.
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SODEXO REMOTE SITES SCOTLAND LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SODEXO REMOTE SITES SCOTLAND LIMITED (CONTINUED)
Other information
The other information comprises the information included in annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our 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 course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. 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 Strategic Report and Directors’ Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and Directors’ Report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or 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.
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SODEXO REMOTE SITES SCOTLAND LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SODEXO REMOTE SITES SCOTLAND LIMITED (CONTINUED)
Responsibilities of directors
As explained more fully in the Directors’ Responsibilities Statement set out on page 6, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, 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, the directors are 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 the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives 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 our 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 the financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
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.
Based on our understanding of the Company and its industry, we considered that non-compliance with the following laws and regulations might have a material effect on the financial statements: employment regulation, health and safety regulation and anti-money laundering regulation.
To help us identify instances of non-compliance with these laws and regulations, and in identifying and assessing the risks of material misstatement in respect to non-compliance, our procedures included, but were not limited to:
∙Inquiring of management and, where appropriate, those charged with governance, as to whether the Company is in compliance with laws and regulations, and discussing their policies and procedures regarding compliance with laws and regulations;
∙Inspecting correspondence, if any, with relevant licensing or regulatory authorities;
∙Communicating identified laws and regulations to the engagement team and remaining alert to any indications of non-compliance throughout our audit; and
∙Considering the risk of acts by the Company which were contrary to applicable laws and regulations, including fraud.
We also considered those laws and regulations that have a direct effect on the preparation of the financial statements, such as tax legislation, pension legislation and the Companies Act 2006.
In addition, we evaluated the directors’ and management’s incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of management override of controls, and determined that the principal risks related to: posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, in particular in relation to revenue recognition (which we pinpointed to the cut-off and occurrence assertions), and significant one-off or unusual transactions.
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SODEXO REMOTE SITES SCOTLAND LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SODEXO REMOTE SITES SCOTLAND LIMITED (CONTINUED)
Our audit procedures in relation to fraud included but were not limited to:
∙Making enquiries of the directors and management on whether they had knowledge of any actual, suspected or alleged fraud;
∙Gaining an understanding of the internal controls established to mitigate risks related to fraud;
∙Discussing amongst the engagement team the risks of fraud; and
∙Addressing the risks of fraud through management override of controls by performing journal entry testing.
There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.
A further description of our 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.
Use of the audit report
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.
Richard Karmel (Senior Statutory Auditor)
for and on behalf of
Forvis Mazars LLP
Chartered Accountants and Statutory Auditor
30 Old Bailey
London
EC4M 7AU
11 May 2026
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SODEXO REMOTE SITES SCOTLAND LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 AUGUST 2025
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Interest receivable and similar income
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Interest payable and similar expenses
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Profit for the financial year
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There was no other comprehensive income for 2025 (2024: £NIL).
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The notes on pages 14 to 33 form part of these financial statements.
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All amounts relate to continuing operations.
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SODEXO REMOTE SITES SCOTLAND LIMITED
REGISTERED NUMBER: SC059276
STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2025
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Debtors: amounts falling due after more than one year
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The financial statements were approved and authorised for issue by the board and were signed on its behalf by
The notes on pages 14 to 33 form part of these financial statements.
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SODEXO REMOTE SITES SCOTLAND LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2025
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The notes on pages 14 to 33 form part of these financial statements.
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SODEXO REMOTE SITES SCOTLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
Sodexo Remote Sites Scotland Limited, a private company limited by shares, registered in Scotland. The Company’s registered number is SC059276 and its registered office is Neo Space, Riverside Drive, Aberdeen, Scotland, AB11 7LH.
2.Accounting policies
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Basis of preparation of financial statements
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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 101 'Reduced Disclosure Framework' and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The presentational and functional currency of the financial statements is pound Sterling (£). All amounts are rounded to the nearest £1,000.
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Financial Reporting Standard 101 - reduced disclosure exemptions
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The Company has taken advantage of the following disclosure exemptions under FRS 101:
∙the requirement of paragraphs 45(b) and 46-52 of IFRS 2 Share-based payment
∙the requirements of IFRS 7 Financial Instruments: Disclosures
∙the requirements of IAS 7 Statement of Cash Flows
∙the requirements of paragraph 17 and 18A of IAS 24 Related Party Disclosures
∙the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member
∙the requirements in IAS 12 Income Taxes paragraph 12.88B
This information is included in the consolidated financial statements of Sodexo S.A., a company incorporated in France, as at 31 August 2025 and these financial statements may be obtained from The Secretary, Sodexo S.A., 225 Quai de la Bataille de Stalingrad, 92130 Issy-Les-Moulineaux, France.
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Impact of new international reporting standards, amendments and interpretations
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Standards, amendments and interpretations adopted in the current financial year ended 31 August 2025
The adoption of the following mentioned standards, amendments and interpretations in the current year have not had a material impact on the Company’s financial statements:
UK adopted and EU Endorsed - Periods beginning on or after 1 January 2024
-IFRS 16 Leases (Amendment): Lease Liability in a Sale and Leaseback
-IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments Disclosures (Amendment): Supplier Finance Arrangements
-IAS 1 Presentation of Financial Statements (Amendment): Classification of Liabilities as Current or Non-current and Classification of Non-current Liabilities with Covenants
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SODEXO REMOTE SITES SCOTLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
The accounting policies which follow set out those policies which were applied in preparing the financial statements for the year ended 31 August 2025.
Standards, amendments and interpretations in issue but not yet effective
The adoption of the following mentioned standards, amendments and interpretations in future years are not expected to have a material impact on the Company’s financial statements:
UK adopted and EU endorsed - periods beginning on or after 1 January 2025
-IAS 21 The Effects of Changes in Foreign Exchange Rates (Amendment): Lack of Exchangeability
UK adopted and EU endorsed - periods beginning on or after 1 January 2026
-IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures (Amendment): Classification and Measurement of Financial Instruments
- Annual Improvements to IFRS Accounting Standards - Volume 11
• IFRS 1 – First-time Adoption of International Financial Reporting Standards
• IFRS 7 – Financial Instruments: Disclosures
• IFRS 9 – Financial Instruments
• IFRS 10 – Consolidated Financial Statements
• IAS 7 – Statement of Cash Flows
Subject to UK adoption and EU endorsement - periods beginning on or after 1 January 2027
- IFRS 18 Presentation and Disclosure in Financial Statements
- IFRS 19 Subsidiaries without Public Accountability: Disclosures
- IFRS 19 Subsidiaries without Public Accountability: Disclosures (Amendments)
New accounting standards and interpretations
The Company applied the same standards, interpretations and accounting policies in 2025 as applied
in its financial statements for the year ended 31 August 2024, except for changes required to meet
new IFRS requirements applicable from 1 January 2024.
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SODEXO REMOTE SITES SCOTLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
The financial statements have been prepared on a going concern basis, which the directors consider appropriate for the following reasons:
The Company is part of the Sodexo UK and Ireland group of companies (the “UK&I Group”), which in turn forms part of the wider Sodexo Group, headed by Sodexo S.A., a company incorporated in France. The UK&I Group’s principal activities include the provision of facilities management and catering services across various sectors such as government, healthcare, corporate services, sports and leisure and education. Accordingly, the Company’s cash flows are influenced by the continuity, volume, and pricing of these operations.
The Company meets its day-to-day working capital requirements through operational cash flows and intercompany loan arrangements within the UK&I Group. The UK&I Group has demonstrated resilience in the face of economic challenges. This has been achieved through disciplined cash and balance sheet management, strong contract retention, a diversified client base across both public and private sectors, and robust inflation management processes. Furthermore, the UK&I Group continues to pursue organic growth opportunities, with several new contracts in the pipeline. Nonetheless, it remains vigilant and prepared for potential macroeconomic changes through sound
commercial management and prudent cost control.
In determining the appropriateness of the going concern basis, the directors have reviewed cash flow and profit forecasts for the UK&I Group covering a period of at least 12 months from the date of approval of these financial statements. These forecasts incorporate a severe but plausible downside scenario, which assumes a deterioration in gross margin due to operational challenges, a reduction in revenue from non-renewal of key contracts, and under-recovery of inflation. In addition, this scenario does not factor in any mitigating actions that management could implement. Even under these conditions, the forecasts indicate that the UK&I Group would remain resilient.
Furthermore, Sodexo S.A., which currently holds a Baa1 credit rating from Moody’s Investors Service, has confirmed through a letter of support its intention to continue providing financial resources as the Company may require during the going concern assessment period. As is the case for any entity that relies on intragroup financial support, the directors acknowledge that this support cannot be guaranteed indefinitely. However, at the date of approval of these financial statements, the directors have no reason to believe that such support will not continue.
Based on this assessment, the directors are confident that the Company will have sufficient resources to meet its obligations as they fall due for at least 12 months from the date of approval of the financial statements. Accordingly, the financial statements have been prepared on a going concern basis.
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SODEXO REMOTE SITES SCOTLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
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Foreign currency translation
|
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of Comprehensive Income within 'operating expenses'.
The Company provides a range of on-site services to businesses and public-sector customers. Service contracts may include the provision of food and catering, facilities management, property and technical services.
Revenues are measured at the fair value of the consideration received or to be received, net of discounts and rebates as well as Value Added Tax (VAT) and other taxes.
Revenue is recognised in accordance with IFRS 15, following a five-step approach:
- Identify the contract with a customer
- Identify the performance obligations in the contract
- Determine the transaction price
- Allocate the transaction price to the performance obligations
- Recognise revenue when the transfer of control of goods/services occurs
In the majority of cases, revenue from on-site contracts is recognised over time as the customer typically receives the benefits as the Company performs the contracted services. Revenues include all revenues stipulated in the contract, considering whether Sodexo acts as principal or agent.
Food services revenues are recognised when the customer pays at the check-out (the date on which control of the goods is transferred to the customer, since the sales do not represent any other unsatisfied performance obligation at that date). Facilities management, property and technical services mainly represent routine or recurring services, whose benefits are simultaneously received and consumed by customers as they are performed by the Company, and therefore correspond to performance obligations satisfied over time. Consequently, the Company applies the practical expedient provided for in IFRS 15 and recognises the revenue for its right to bill (invoicing based on contractual prices, which represent the transaction prices of the different promised services). As a result, revenue recognition matches with billing for most services.
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SODEXO REMOTE SITES SCOTLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
2.6 Turnover (continued)
The Company derives some of its revenues from property and technical services, often referred to as hard facilities management, where contracted work takes place typically over a number of months. Revenue from such contracts is recognised over time, by reference to the proportion of total costs incurred at the reporting date compared to the estimated total costs of the contract at completion. Until the outcome of such a contract can be estimated reliably, contract revenue is recognised to the extent of contract costs incurred, where such costs are considered recoverable. After this point, margin is recognised in the Statement of Comprehensive Income in line with the corresponding stage of completion. Contract costs include costs that are directly related to the specific contract and costs that are attributable to general contract activity and can be allocated to the contract.
When a third party is involved in providing goods or services to a client (for example, a subcontractor), the Company evaluates whether or not it obtains control of goods or services before transferring control to the client. When the Company controls the good or service before it is transferred to the client, the revenue is recognised on a gross basis. Otherwise, when the control is not obtained, the Company is not considered to be acting as principal in the transaction and the revenue is recognised on a net basis.
Defined contribution pension plan
The Company contributes to the Caterers Offshore Trade Association (COTA) Group Personal Pension Plan which is a defined contribution scheme. The assets of the scheme are held by a separate trustee administered fund.
The cost of providing pensions is charged to the Statement of Comprehensive Income over the year during which the company benefits from the employees' services. The effects of variations from regular cost are spread over the expected average remaining service lives of the members of the scheme.
Interest income is recognised in the Statement of Comprehensive Income using the effective interest method.
Finance costs are charged to the Statement of Comprehensive Income 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.
The Company as a lessee
The Company assesses whether a contract is or contains a lease, at inception of a contract. The Company recognises a right-of-use asset and a corresponding lease liability with respect to all lease agreements in which it is the lessee, except for short-term leases (defined as leases with a lease term of 12 months or less) and leases of low value assets. For these leases, the Company recognises the lease payments as an operating expense on a straight-line basis over the term of the
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SODEXO REMOTE SITES SCOTLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
lease unless another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.
The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease. If this rate cannot be readily determined, the Company uses its incremental borrowing rate. The incremental borrowing rate is calculated using the following parameters: risk free rate of the relevant currency, duration of the lease, credit spread of the Company.
Lease payments included in the measurement of the lease liability comprise:
∙fixed lease payments (including in-substance fixed payments), less any lease incentives;
∙variable lease payments that depend on an index or rate, initially measured using the index or rate at the commencement date;
∙the amount expected to be payable by the lessee under residual value guarantees;
∙the exercise price of purchase options, if the lessee is reasonably certain to exercise the options; and
∙payments of penalties for terminating the lease, if the lease term reflects the exercise of an option to terminate the lease.
The lease liability is included in 'Creditors' on the Statement of Financial Position.
The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using the effective interest method) and by reducing the carrying amount to reflect the lease payments made.
The Company remeasures the lease liability (and makes a corresponding adjustment to the related right-of-use asset) whenever:
∙the lease term has changed or there is a change in the assessment of exercise of a purchase option, in which case the lease liability is remeasured by discounting the revised discount rate.
∙the lease payments change due to changes in an index or rate or a change in expected payment under a guaranteed residual value, in which cases the lease liability is remeasured by discounting the revised lease payments using the initial discount rate (unless the lease payments change is due to a change in a floating interest rate, in which case a revised discount rate is used).
∙a lease contract is modified and the lease modification is not accounted for as a separate lease, in which case the lease liability is remeasured by discounting the revised lease payments using a revised discount rate.
The Company did not make any such adjustments during the periods presented.
The right-of-use assets comprise the initial measurement of the corresponding lease liability, lease payments made at or before the commencement day and any initial direct costs. They are subsequently measured at cost less accumulated depreciation and impairment losses.
Right-of-use assets are depreciated over the shorter period of lease term and useful life of the
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SODEXO REMOTE SITES SCOTLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
underlying asset. If a lease transfers ownership of the underlying asset or the cost of the right-of-use asset reflects that the Company expects to exercise a purchase option, the related right-of-use asset is depreciated over the useful life of the underlying asset. The depreciation starts at the commencement date of the lease.
The right-of-use assets are included in the tangible fixed assets lines, as applicable, in the Statement of Financial Position.
The Company applies IAS 36 to determine whether a right-of-use asset is impaired and accounts for any identified impairment loss as described in note 2.14.
As a practical expedient, IFRS 16 permits a lessee not to separate non-lease components, and instead account for any lease and associated non-lease components as a single arrangement. The Company has not used this practical expedient.
The Company’s ultimate parent undertaking, Sodexo S.A. (“the Group”), operates an equity settled share-based payment scheme for the benefit of its employees. Sodexo S.A. recognises the economic
cost of awarding share options to employees by recording an expense in profit or loss and equal to the fair value of the benefit awarded with the corresponding entry recorded in equity over the vesting period.
The fair value of the shares is estimated by the Group at the date of grant based upon the share price at that date after deductions for dividends on the shares that will not be paid to beneficiaries during the vesting period. The fair value of the shares is subject to a performance condition based upon Total Shareholder Return and is estimated using a binomial model that reflects the vesting conditions.
The Group carries out a reassessment of the number of shares that is likely to be delivered to beneficiaries based upon applicable vesting conditions on an annual basis. Any change in estimates is recognised in the Statement of Comprehensive Income with the corresponding value recorded in equity. The Company recognises their share of the share-based payment charge as an expense in the profit and loss account and in equity.
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SODEXO REMOTE SITES SCOTLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
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Current and deferred taxation
|
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income 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.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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.
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:
Right of use assets - Period of the lease term
Plant and machinery - 2 - 5 years
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 the Statement of Comprehensive Income.
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SODEXO REMOTE SITES SCOTLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
At each reporting date, the Company reviews the carrying value of its property, plant and equipment (including right of use assets) to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss.
The recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a discount rate that reflects current market assessments of the time value of money and the risks specific to the asset, for which the estimates of future cash flows have not been adjusted. Any resulting changes are recognised in the Statement of Comprehensive Income in the period to which they relate.
Dividend income is recognised in the Statement of Comprehensive Income on the date the entity's right to receive payments is established.
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of Comprehensive Income.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
|
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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Non-derivative financial instruments
|
Non-derivative financial instruments comprise investments in equity and debt securities, trade and other debtors, cash and cash equivalents, loans and borrowings, and trade and other creditors.
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SODEXO REMOTE SITES SCOTLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
2.Accounting policies (continued)
Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Creditors are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method.
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Provisions for liabilities
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Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.
Basic financial instruments are initially recorded at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, which it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income immediately.
Any reversals of impairment are recognised in the Statement of Comprehensive Income immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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SODEXO REMOTE SITES SCOTLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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Judgements in applying accounting policies and key sources of estimation uncertainty
|
The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.
The estimates and judgements that have the most material impact on the financial performance and position of the Company are as follows:
(i) Impairment of trade debtors
Provision is made for doubtful trade debtors. This provision requires management's judgement as to whether circumstances exist which indicate that trade debtors may not be recoverable in full. This judgement is considered to be material on account of the balance of trade debtors being material to the Company's Statement of Financial Position.
(ii) Tangible fixed assets
The Company uses various tangible fixed assets to support the delivery of its services to clients. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. Accounting bases for depreciation are intended to reflect management's estimation of the useful lives of the Company's tangible fixed assets. Management periodically reviews these estimates to ensure they remain appropriate.
(iii) Lease terms
In determining the lease term, management considers all facts and circumstances that create an economic incentive to exercise an extension option, or not exercise a termination option. Extension options (or periods after termination options) are only included in the lease term if the lease is reasonably certain to be extended (or not terminated).
(iv) Incremental borrowing rate
In determining the incremental borrowing rate, management have assessed the market rate of interest that would have to be paid to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic environment. Management have made this assessment at the inception of each lease.
Analysis of turnover by country of destination:
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SODEXO REMOTE SITES SCOTLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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The operating profit is stated after charging:
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Depreciation of tangible fixed assets
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Depreciation of right-of-use assets
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Defined contribution pension cost
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Fees payable to the Company's auditor for the audit of the Company's financial statements
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Staff costs, including directors' remuneration, were as follows:
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Cost of defined contribution scheme
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The average monthly number of employees, including the directors, during the year was as follows:
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Management and administration (head office)
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SODEXO REMOTE SITES SCOTLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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During the year retirement benefits were accruing to 2 directors (2024: 2) in respect of defined contribution pension schemes.
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The amounts disclosed for directors' remuneration represent an allocation of total UK&I director remuneration. The Company's directors are remunerated through other entities in the group of companies headed by Sodexo S.A. Directors' remuneration is allocated to a company based on the proportion of a directors' time spent concerning matters relating to that company.
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Interest receivable and similar income
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Interest receivable from group undertakings
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Interest payable and similar expenses
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Interest payable to group undertakings
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Interest expense on lease liabilities
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SODEXO REMOTE SITES SCOTLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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Current tax on profits for the year
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Adjustments in respect of prior year
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Origination and reversal of timing differences
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Adjustments in respect of previous years
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Factors affecting tax charge for the year
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The tax assessed for the year is higher than (2024: higher than) the standard rate of corporation tax in the UK of 25% (2024: 25%). The differences are explained below:
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Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024: 25%)
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Expenses not deductible for tax purposes
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Adjustments in respect of previous years
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Total tax charge for the year
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Factors that may affect future tax charges
|
The Company is a member of the Sodexo S.A. Group which is expected to be a multinational enterprise ("MNE") within the scope of Pillar Two. The Group has carried out preliminary work and does not anticipate any significant impact from this measure in the UK. As at 31 August 2025, no deferred tax has been recognised in application of the amendment to IAS 12 concerning the mandatory exemption from recognition of deferred tax in the financial statements for Pillar Two income tax.
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SODEXO REMOTE SITES SCOTLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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Assets under construction
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Transfers between classes
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Charge for the year on owned assets
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Charge for the year on right-of-use assets
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The net book value of owned and leased assets included as "Tangible fixed assets" in the Statement of Financial Position is as follows:
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Tangible fixed assets owned
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Right-of-use tangible fixed assets
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SODEXO REMOTE SITES SCOTLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
12.Tangible fixed assets (continued)
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Information about right-of-use assets is summarised below:
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Depreciation charge for the year ended
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Additions to right-of-use assets
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Additions to right-of-use assets
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Raw materials and consumables
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Work in progress (goods to be sold)
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Stock recognised in operating costs during the period as an expense was £3,494,000 (2024: £3,891,000).
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SODEXO REMOTE SITES SCOTLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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Due after more than one year
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Amounts owed by group undertakings
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Included in amounts owed by group undertakings is an amount of £38,374,000 (2024: £36,755,000) repayable in October 2026. This accrues interest at Bank of England base rate plus 0.5%. These amounts are not secured on any assets of the Company.
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Amounts owed by group undertakings
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Prepayments and accrued income
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Corporation tax recoverable
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Amounts owed to group undertakings are repayable 30 days from receipt of invoice. No interest is payable on those balances and they are unsecured. It also includes the cash pooling facility, repayable on demand and interest bearing at variable rates. See Note 23 for prior year reclassification.
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SODEXO REMOTE SITES SCOTLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
|
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Creditors: Amounts falling due after more than one year
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Amounts owed to group undertakings
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Amounts owed to group undertakings falling due after more than one year are repayable in October 2026. The balances accrue interest at Bank of England base rate plus 0.5%.
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Future minimum lease payments under IFRS16 and contractual undiscounted cash flows are due as follows:
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Future minimum lease payments for:
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The following amounts in respect of leases, where the Company is a lessee, have been recognised in the Statement of Comprehensive Income:
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Interest expense on lease liabilities
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Expenses relating to leases of low-value assets or short-term leases
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SODEXO REMOTE SITES SCOTLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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Charged to profit or loss
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The deferred tax asset is made up as follows:
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Accelerated capital allowances
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Short term timing difference
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Share options and share-based payments
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The Company’s ultimate parent undertaking, Sodexo S.A. (“the Group”), operates an equity settled share based payment scheme for the benefit of its employees. The scheme is open to specific individuals based upon performance conditions ranging from 10% to 100%, depending on the total number of shares awarded. Allocation is based upon number of shares held by specific employees. The performance criteria applied are directly linked to the Group's strategic priorities and are intended to measure performance in a global manner.
The options will vest provided that the employee remains in service for 3 years from the date of the grant. The exercise price of the options is the market value at the date of grant after deductions for dividends on the shares that will be paid to beneficiaries during the vesting period. The options have a contractual life of 3 years.
The Group has granted options and issued capital units to certain of the subsidiary undertakings’ members and employees. These awards give rise to share-based payment expenses incurred by the Group but are fully borne to the Company making equal capital contributions to the subsidiary undertakings to cover the expenses.
The fair value of restricted shares subject to a performance condition based on Total Shareholder Return
is estimated using a binomial model that takes into account the vesting conditions.
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SODEXO REMOTE SITES SCOTLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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Allotted, called up and fully paid
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15,466 (2024: 15,466) Ordinary shares of £1.00 each
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15,466 (2024: 15,466) Deferred shares of £1.00 each
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The deferred shareholders have:
(a) no right to participate in any dividends paid by the Company;
(b) the right to a return of assets in winding up to a repayment of the capital paid up on such shares after a sum of £100,000 has been paid in respect of each issued ordinary share of £1 in the capital of the Company but no other right to participate in the assets of the Company; and
(c) no right to receive notice of or attend or vote at any general meeting of the Company.
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Defined contribution pension scheme
The Company operates a defined contribution pension scheme. The pension charge for the period represents contributions payable by the Company and amounts to £266,000 (2024: £257,000). No contributions were payable at the year end (2024: £Nil).
The profit and loss account includes all current and prior period retained profits and losses.
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Prior year reclassification
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The directors have reassessed classification of accruals and deferred income and reclassified these balances from trade creditors. There has been no impact on the net assets of the Company as a result of the reclassification.
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Related party transactions
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The Company is exempt under the terms of FRS 101 from disclosing transactions with entities that are wholly-owned members of the Group headed by Sodexo S.A.
The immediate parent undertaking is Sodexo Remote Sites Holdings Limited, a company registered in England and Wales.
The Company's ultimate parent company and controlling party is Sodexo S.A., a company incorporated in France. This is the smallest group of undertakings for which consolidated financial statements are prepared. Copies of the consolidated financial statements can be obtained from The Secretary, Sodexo S.A., 225 Quai de la Bataille de Stalingrad, 92130 Issy-Les-Moulineaux, France.
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