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REGISTERED NUMBER: SC378933















INGLES BUCHAN (HOLDINGS) LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024






INGLES BUCHAN (HOLDINGS) LIMITED (REGISTERED NUMBER: SC378933)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


INGLES BUCHAN (HOLDINGS) LIMITED (REGISTERED NUMBER: SC378933)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 245,700 245,700

CURRENT ASSETS
Debtors 5 - 40

CREDITORS
Amounts falling due within one year 6 163,423 139,747
NET CURRENT LIABILITIES (163,423 ) (139,707 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

82,277

105,993

CAPITAL AND RESERVES
Called up share capital 17,935 17,935
Share premium 53,605 53,605
Retained earnings 10,737 34,453
SHAREHOLDERS' FUNDS 82,277 105,993

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





C W Brown - Director


INGLES BUCHAN (HOLDINGS) LIMITED (REGISTERED NUMBER: SC378933)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Ingles Buchan (Holdings) Limited is a private company, limited by shares, registered in Scotland. The company's registered office is Unit 2/1, 19 Brand Place, 200 Brand Street, Glasgow, Scotland, G51 1DR.

The presentation currency of the financial statements is Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from this standard. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Ingles Buchan (Holdings) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Judgements
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The directors consider there are no such significant judgements.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like accounts receivable and payable and loans to and from related parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.


INGLES BUCHAN (HOLDINGS) LIMITED (REGISTERED NUMBER: SC378933)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2023
and 29 February 2024 245,700
NET BOOK VALUE
At 29 February 2024 245,700
At 28 February 2023 245,700

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 40

INGLES BUCHAN (HOLDINGS) LIMITED (REGISTERED NUMBER: SC378933)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 134,972 106,985
Other creditors 28,451 32,762
163,423 139,747

7. CONTINGENT LIABILITIES

The company together with another group company has entered into bank cross guarantees in respect of all monies and liabilities due or to become due to the bank. At the balance sheet date, the contingent liability not reflected in these accounts was £59,758 (2023 - £97,640).