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Company No: 10677389 (England and Wales)

THE SHENKMAN FAMILY INVESTMENT COMPANY

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

THE SHENKMAN FAMILY INVESTMENT COMPANY

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

THE SHENKMAN FAMILY INVESTMENT COMPANY

COMPANY INFORMATION

For the financial year ended 31 March 2024
THE SHENKMAN FAMILY INVESTMENT COMPANY

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS Mr A I M Shenkman
Mr I A Shenkman
Mr M I M Shenkman
Mrs S M Shenkman
REGISTERED OFFICE Hitchcock House Hilltop Park
Devizes Road
Salisbury
SP3 4UF
United Kingdom
COMPANY NUMBER 10677389 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Hitchcock House
Hilltop Park
Devizes Road
Salisbury
Wiltshire SP3 4UF
THE SHENKMAN FAMILY INVESTMENT COMPANY

BALANCE SHEET

As at 31 March 2024
THE SHENKMAN FAMILY INVESTMENT COMPANY

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 31,737,195 27,714,463
31,737,195 27,714,463
Current assets
Debtors 4 0 5,489
Cash at bank and in hand 42,844 1,822,662
42,844 1,828,151
Creditors: amounts falling due within one year 5 ( 324,473) ( 525,976)
Net current (liabilities)/assets (281,629) 1,302,175
Total assets less current liabilities 31,455,566 29,016,638
Creditors: amounts falling due after more than one year 6 ( 1,966,620) ( 2,019,663)
Provision for liabilities ( 2,868,278) ( 2,256,071)
Net assets 26,620,668 24,740,904
Capital and reserves
Called-up share capital 20,000,000 20,000,000
Profit and loss account 6,620,668 4,740,904
Total shareholders' funds 26,620,668 24,740,904

Included within the profit and loss account reserves is £8,194,202 (2023: £9,539,953) of non-distributable reserves.

For the financial year ending 31 March 2024 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 The Shenkman Family Investment Company (registered number: 10677389) were approved and authorised for issue by the Board of Directors on 27 August 2024. They were signed on its behalf by:

Mr Ivan Alexander Shenkman
Director
THE SHENKMAN FAMILY INVESTMENT COMPANY

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
THE SHENKMAN FAMILY INVESTMENT COMPANY

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
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

The Shenkman Family Investment Company (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 Hitchcock House Hilltop Park, Devizes Road, Salisbury, SP3 4UF, 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 £.

Turnover

Turnover represents profits or losses on disposals of current asset investments in the period in which the disposal occurs and unrealised gains or losses on revaluation of current asset investments.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Investments
Listed investments are initially measured at cost and then valued at fair value with gains and losses recognised in profit or loss. Fair value is determined by reference to published market listings. Deferred tax arising on the difference between cost and carrying value is booked in profit or loss.

Foreign currency transactions and balances

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transactions. Exchange differences are taken into account in arriving at the operating profit.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 April 2023 27,714,463 27,714,463
Additions 9,424,243 9,424,243
Disposals ( 9,504,482) ( 9,504,482)
Movement in fair value 4,102,971 4,102,971
At 31 March 2024 31,737,195 31,737,195
Carrying value at 31 March 2024 31,737,195 31,737,195
Carrying value at 31 March 2023 27,714,463 27,714,463

The historic cost of the current asset investments are £20,674,713 (2023: £18,868,028).

4. Debtors

2024 2023
£ £
Other debtors 0 5,489

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to directors 13,172 364,216
Accruals 14,454 5,220
Taxation and social security 45,189 28,563
Other creditors 251,658 127,977
324,473 525,976

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other loans 1,966,620 2,019,663

There are no amounts included above in respect of which any security has been given by the small entity.