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Company No: 11961239 (England and Wales)

CAPERCAILLIE HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

CAPERCAILLIE HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

CAPERCAILLIE HOLDINGS LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
CAPERCAILLIE HOLDINGS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS Ms E Gordon
Mr R Gordon
REGISTERED OFFICE 22 Chancery Lane
London
WC2A 1LS
England
United Kingdom
COMPANY NUMBER 11961239 (England and Wales)
CAPERCAILLIE HOLDINGS LIMITED

BALANCE SHEET

As at 31 December 2023
CAPERCAILLIE HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 16,263,676 15,157,453
16,263,676 15,157,453
Current assets
Cash at bank and in hand 208,269 605,319
208,269 605,319
Creditors: amounts falling due within one year 4 ( 8,275,676) ( 8,293,722)
Net current liabilities (8,067,407) (7,688,403)
Total assets less current liabilities 8,196,269 7,469,050
Provision for liabilities 5 ( 157,297) 0
Net assets 8,038,972 7,469,050
Capital and reserves
Called-up share capital 500 500
Share premium account 7,479,411 7,479,411
Profit and loss account 559,061 ( 10,861 )
Total shareholders' funds 8,038,972 7,469,050

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Capercaillie Holdings Limited (registered number: 11961239) were approved and authorised for issue by the Board of Directors on 11 July 2024. They were signed on its behalf by:

Ms E Gordon
Director
CAPERCAILLIE HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
CAPERCAILLIE HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Capercaillie Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 22 Chancery Lane, London, WC2A 1LS, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Foreign currency

Transactions in foreign currencies are recorded using the rate of exchange ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the rate of exchange ruling at the balance sheet date and the gains or losses on translation are included in the profit and loss account.

Taxation

Current tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current 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 taxable income.

Deferred tax
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Revenue recognition

Interest is recognised in the period in which it is earned. Dividends are recognised when the company becomes entitled to receive the payment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at cost, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. Investments in subsidiaries are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method.

Ordinary share capital

Ordinary shares are classified as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year. 0 0

3. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 January 2023 7,896,580
At 31 December 2023 7,896,580
Carrying value at 31 December 2023 7,896,580
Carrying value at 31 December 2022 7,896,580

Listed investments Total
£ £
Cost or valuation before impairment
At 01 January 2023 7,260,873 7,260,873
Additions 2,554,683 2,554,683
Disposals ( 2,203,114) ( 2,203,114)
Movement in fair value 754,654 754,654
At 31 December 2023 8,367,096 8,367,096
Carrying value at 31 December 2023 8,367,096 8,367,096
Carrying value at 31 December 2022 7,260,873 7,260,873

The historic cost of investments held at fair value at 31 December 2023 was £7,480,396.

4. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to Group undertakings 8,275,676 8,293,722

5. Deferred tax

2023 2022
£ £
At the beginning of financial year 0 ( 108,043)
(Charged)/credited to the Profit and Loss Account ( 157,297) 108,043
At the end of financial year ( 157,297) 0