Company registration number SC220983 (Scotland)
SIS (Community Finance) Limited
Annual report and financial statements
for the year ended 31 March 2024
SIS (Community Finance) Limited
Company information
Directors
Alastair Davis
Claire Treacy
(Appointed 4 December 2023)
George Walker
(Appointed 4 December 2023)
Secretary
Alistair Johnstone
Company number
SC220983
Registered office
3rd Floor
27 George Street
Edinburgh
EH2 2PA
Auditor
Henderson Loggie LLP
11-15 Thistle Street
Edinburgh
EH2 1DF
Solicitors
Morton Fraser MacRoberts LLP
2 Lister Square
Quartermile Two
Simpson Loan
Edinburgh
EH3 9GL
SIS (Community Finance) Limited
Contents
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Statement of income and retained earnings
7
Balance sheet
8
Notes to the financial statements
9 - 15
SIS (Community Finance) Limited
Strategic Report
for the year ended 31 March 2024
- 1 -

The directors present the strategic report for the year ended 31 March 2024.

Review of the business

The principal activity of the company is to provide loan finance to third sector organisations based or operating in Scotland.

During the year to 31 March 2024, the company deployed a total of £2m (2023: £1.3m) of funds to 20 (2023: 15) organisations.

In the year to 31 March 2024, the company was in a break-even position (2023: loss of £17k). This is due to the loan book of the company being behind pre-pandemic levels. However, this is expected to come back over the coming few years as the loan book value returns to pre-pandemic levels.

Principal risks and uncertainties

The process of setting risk appetite and risk management is addressed through a framework of policies, procedures, and internal controls. All policies are subject to approval in line with the Group’s governance arrangements and ongoing review by management and internal audit. Compliance with regulation, legal and ethical standards is a high priority for the Group.

The SIS Risk Committee is responsible for ensuring an appropriate internal control environment operates across the Group and provides assurance that controls are effective. Key risks are managed proactively, and emerging risks are identified and mitigated appropriately and on a timely basis.

The principal risk is around delivery of the fund objective and execution of the investment strategy. The following key risks have been identified and are closely monitored:

Key performance indicators

Result for the year was a profit of £Nil (2023: loss of £17k). The balance sheet shows the company’s net assets at the year end were £2.2m (2023: £2.3m)

 

During the year, the fund deployed £1.3m, bringing the total amount lent since incorporation to £15.7m.

Future development

The company will continue to provide loan finance to third sector organisations based or operating in Scotland.

On behalf of the board

Alastair Davis
Director
2 October 2024
SIS (Community Finance) Limited
Directors' report
for the year ended 31 March 2024
- 2 -

The directors present their annual report and financial statements for the year ended 31 March 2024.

Principal activities

The principal activity of the company is to provide loan finance to third sector organisations based or operating in Scotland.

Results and dividends

The results for the year are set out on page 7.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Kenneth Barclay
(Retired 4 December 2023)
Alastair Davis
Claire Treacy
(Appointed 4 December 2023)
George Walker
(Appointed 4 December 2023)
Auditor

The auditor, Henderson Loggie LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
Alastair Davis
Director
2 October 2024
SIS (Community Finance) Limited
Directors' responsibilities statement
for the year ended 31 March 2024
- 3 -

The directors are responsible for preparing the annual 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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:

 

 

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 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.

SIS (Community Finance) Limited
Independent auditor's report
to the member of SIS (Community Finance) Limited
- 4 -
Opinion

We have audited the financial statements of SIS (Community Finance) Limited (the 'company') for the year ended 31 March 2024 which comprise the statement of income and retained earnings, the balance sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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.

Other information

The other information comprises the information included in the 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.

SIS (Community Finance) Limited
Independent auditor's report (continued)
to the member of SIS (Community Finance) Limited
- 5 -

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In the 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 the 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:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, 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 these financial statements.

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. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud, are detailed below.

 

As part of our planning process:

SIS (Community Finance) Limited
Independent auditor's report (continued)
to the member of SIS (Community Finance) Limited
- 6 -

The key procedures we undertook to detect irregularities including fraud during the course of the audit included:

 

Owing to the inherent limitations of an audit, there is an unavoidable risk that some material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). For instance, the further removed non-compliance is from the events and transactions reflected in the financial statements, the less likely the auditor is to become aware of it or to recognise the non-compliance.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's member 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 member those matters we are required to state to the member 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 member for our audit work, for this report, or for the opinions we have formed.

Diana Penny
Senior Statutory Auditor
For and on behalf of Henderson Loggie LLP
2 October 2024
Chartered Accountants
Statutory Auditor
11-15 Thistle Street
Edinburgh
EH2 1DF
SIS (Community Finance) Limited
Statement of income and retained earnings
for the year ended 31 March 2024
- 7 -
2024
2023
Notes
£
£
Turnover
3
244,725
279,099
Administrative expenses
(220,622)
(264,505)
Operating profit
24,103
14,594
Interest receivable and similar income
6
7,233
-
0
Interest payable and similar expenses
7
(31,336)
(31,722)
Loss before taxation
-
0
(17,128)
Tax on loss
8
-
0
-
0
Loss for the financial year
-
0
(17,128)
Retained earnings brought forward
26,295
67,576
Distributions to parent charity under gift aid
9
-
0
(24,153)
Retained earnings carried forward
26,295
26,295

The profit and loss account has been prepared on the basis that all operations are continuing operations.

SIS (Community Finance) Limited
Balance sheet
as at 31 March 2024
- 8 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
10
2
2
Current assets
Debtors falling due after more than one year
11
2,135,335
1,701,713
Debtors falling due within one year
11
996,851
932,607
Cash at bank and in hand
1,919,834
2,417,724
5,052,020
5,052,044
Creditors: amounts falling due within one year
12
(25,726)
(25,749)
Net current assets
5,026,294
5,026,295
Total assets less current liabilities
5,026,296
5,026,297
Creditors: amounts falling due after more than one year
13
(2,750,000)
(2,750,001)
Net assets
2,276,296
2,276,296
Capital and reserves
Called up share capital
15
1
1
Other reserves
2,250,000
2,250,000
Profit and loss reserves
26,295
26,295
Total equity
2,276,296
2,276,296
The financial statements were approved by the board of directors and authorised for issue on 2 October 2024 and are signed on its behalf by:
Alastair Davis
Director
Company Registration No. SC220983
SIS (Community Finance) Limited
Notes to the financial statements
for the year ended 31 March 2024
- 9 -
1
Accounting policies
Company information

SIS (Community Finance) Limited is a private company limited by shares incorporated in Scotland. The registered office is 3rd Floor, 27 George Street, Edinburgh, EH2 2PA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Social Investment Scotland for the year ended 31st March 2024. These consolidated financial statements are available from its registered office, 3rd Floor, 27 George Street, Edinburgh, EH2 2PA.

1.2
Going concern

The financial statements have been prepared on a going concern basis, which the directors consider to be appropriate.true The directors have considered the cash forecast for the period of 12 months from the date of signing the financial statements, taking into account operational costs, deployment and capital repayments during this consideration.

 

In addition to this, the directors have also considered the risk of loan stock, due for renewal in April 2025 and December 2025, not being renewed and the impact this would have on available capital. Whilst there are indications that the loan stock due in December 2025 may be called in, the directors believe it is still appropriate to prepare the financial statements on a going concern basis. This is on the basis that the loan stock due for renewal in April 2025 has been rolled over for over 20 years and the company has also received a draft term sheet from a new investor to provide further investment into the company.

1.3
Turnover

The turnover shown in the statement of income and retained earnings represents amounts receivable during the year in respect of the company's principal activity of the provision of loan finance to social organisations based or operating in Scotland.

SIS (Community Finance) Limited
Notes to the financial statements (continued)
for the year ended 31 March 2024
1
Accounting policies (continued)
- 10 -
1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.5
Cash and cash equivalents

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

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ or FRS 102 to all of its financial statements.

 

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

1.7
Provisions

Specific provisions against concessionary loans are recognised when risk of non-recoverability is identified, as a result of regular monitoring and review by the credit committee. Provisions made during the year, less amounts released, are charged to the Statement of income and retained earnings and are netted off against advances reported in the balance sheet.

1.8

Concessionary loans

The loans issued by SIS (Community Finance) Limited, as a member of a public benefit entity group, are deemed to be concessionary loans. Concessionary loans are initially measured at the amount paid. Subsequent to initial recognition, the carrying amount of concessionary loans at the reporting date is adjusted to reflect any repayments, accrued interest and impairments.

1.9

Interest income

Interest income is recognised in the statement of income and retained earnings using the effective interest method.

1.10

Borrowing costs

All borrowing costs are recognised in the statement of income and retained earnings in the year which they are incurred.

SIS (Community Finance) Limited
Notes to the financial statements (continued)
for the year ended 31 March 2024
- 11 -
2
Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revision to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

The only accounting judgement or significant estimate deemed to be required in preparing these accounts, relates to the recognition of provisions against concessionary loans as discussed above. The directors are satisfied that accounting policies are appropriate and applied correctly.

3
Turnover
2024
2023
£
£
Turnover analysed by class of business
Interest on Loans
221,248
255,843
Restructure Fees
1,000
150
Arrangement Fees
22,477
23,106
244,725
279,099
4
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
7,980
7,590
For other services
Taxation compliance services
696
600
5
Employees

The average number of persons (including directors) employed by the company during the year was nil (2023: nil).

 

None of the directors received any remuneration in the year (2023 £nil).

SIS (Community Finance) Limited
Notes to the financial statements (continued)
for the year ended 31 March 2024
- 12 -
6
Interest receivable and similar income
2024
2023
£
£
Interest on bank deposits
7,233
-
0
7
Interest payable and similar expenses
2024
2023
£
£
Interest on bank overdrafts and loans
31,336
31,722
8
Taxation

The actual charge for the year can be reconciled to the expected credit for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit/(loss) before taxation
-
0
(17,128)
Expected tax charge/(credit) based on the standard rate of corporation tax in the UK of 25% (2023: 19%)
-
0
(3,254)
Tax effect of expenses that are not deductible in determining taxable profit
-
0
209
Effect of change in corporation tax rate
(1,028)
-
0
Group relief
211
-
0
Other permanent differences
-
0
(4,589)
Movement in deferred tax not recognised
817
7,634
Taxation charge for the year
-
-

On 3 March 2021, the UK Budget 2021 announcements included measures to support economic recovery as a result of the COVID-19 pandemic. These included an increase to the UK’s main corporation tax rate to 25% for those companies whose profits exceed £50,000, which became effective from 1 April 2023. The 25% rate was granted Royal Assent on 10 June 2021 and so was substantively enacted at the balance sheet date.

9
Dividends and distributions
2024
2023
£
£
Distributions to parent charity under gift aid
Amounts paid
-
0
24,153
SIS (Community Finance) Limited
Notes to the financial statements (continued)
for the year ended 31 March 2024
- 13 -
10
Fixed asset investments
2024
2023
£
£
Unlisted investments
2
2

1% of members capital in Social Growth Fund LLP (100% of the members capital is held within the group), a Limited Liability Partnership registered in Scotland. The principal activity of Social Growth Fund LLP continued to be the provision of loan finance to social sector organisations based or operating in Scotland.

The capital and reserves of Social Growth Fund LLP at 31 March 2024 were £3,721,676 (2023: £4,256,402) including members’ loans of £6,804,708 (2023: £7,571,923) and the profit for the financial year was £232,489 (2023: £221,324) which includes income of £260,036 (2023: £311,289) and expenditure of £27,547 (2023: £89,965).

The company invested 1% of the members capital in Social Growth Fund 2 LLP (100% of the members capital is held in a group), a Limited Liability Partnership registered in Scotland. Social Investment Scotland (the group parent charitable company) has a membership agreement with Big Society Capital Limited and the University of Edinburgh to operate the fund.

 

The principal activity of Social Growth Fund 2 LLP is the provision of loan finance to social sector organisations based or operating in Scotland. The capital and reserves of Social Growth Fund 2 LLP at 31 March 2024 were £11,488,312 (2023: £7,439,655) including members' loan of £13,000,101 (2023: £8,801,184) and the loss for the financial year was £150,260 (2023: £112,629) which includes income of £538,693 (2023: £275,621) and expenditure of £691,846 (2023: £388,250).

 

The company is a designated member of both entities. The registered office of both entities is 3rd Floor 27 George Street, Edinburgh, Scotland, EH2 2PA.

11
Debtors
2024
2023
Amounts falling due within one year:
£
£
Concessionary loans
950,611
932,607
Amounts owed by group undertakings
46,240
-
0
996,851
932,607
2024
2023
Amounts falling due after more than one year:
£
£
Concessionary loans
2,135,335
1,701,713
Total debtors
3,132,186
2,634,320
SIS (Community Finance) Limited
Notes to the financial statements (continued)
for the year ended 31 March 2024
11
Debtors (continued)
- 14 -

Interest is charged on concessionary loans at fixed rates of 4% - 12%. Security is held over certain loans by way of a fixed or floating charge over assets of the relevant company.

 

A provision of £142,759 (2023: £131,221) has been recognised against concessionary loans.

12
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,180
-
0
Amounts owed to group undertakings
-
0
17,500
Accruals and deferred income
23,546
8,249
25,726
25,749
13
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
14
2,000,000
2,000,000
Other borrowings
14
750,000
750,000
Amounts owed to group undertakings
-
0
1
2,750,000
2,750,001
14
Loans and overdrafts
2024
2023
£
£
Bank loans
2,000,000
2,000,000
Other loans
750,000
750,000
2,750,000
2,750,000
Payable after one year
2,750,000
2,750,000

The company has £2,000,000 of 1% subordinated unsecured loan stock repayable in April 2025.

 

The company has £750,000 of 1.5% subordinated unsecured loan stock repayable in December 2025.

SIS (Community Finance) Limited
Notes to the financial statements (continued)
for the year ended 31 March 2024
- 15 -
15
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1

Each share has full rights in the company with respect to voting, dividends and distributions.

16
Other reserves

Other reserves comprise of non-interest bearing loans received from the parent that have no set repayment date, and are therefore classed as equity.

 

The profit and loss account includes all current and prior period retained profits and losses.

17
Financial commitments, guarantees and contingent liabilities

At 31 March 2024, the company had concessionary loans amounting to £240,000 approved undrawn (2023: £395,000).

18
Related party transactions
Transactions with related parties

As a wholly owned subsidiary of Social Investment Scotland, advantage has been taken of the exemption under FRS 102 Section 33 from the requirement to disclose transactions with other group entities.

19
Ultimate controlling party

The ultimate parent undertaking is Social Investment Scotland, a company registered in Scotland. The address of its registered office is the same as that of the company.

 

In the opinion of the directors, the company has no ultimate controlling party.

2024-03-312023-04-01falseCCH SoftwareCCH Accounts Production 2024.100Kenneth BarclayAlastair DavisClaire TreacyGeorge WalkerAlistair Johnstonefalsefalse0SC2209832023-04-012024-03-31SC220983bus:Director22023-04-012024-03-31SC220983bus:Director32023-04-012024-03-31SC220983bus:Director42023-04-012024-03-31SC220983bus:CompanySecretary12023-04-012024-03-31SC220983bus:Director12023-04-012024-03-31SC220983bus:RegisteredOffice2023-04-012024-03-31SC220983bus:Agent12023-04-012024-03-31SC2209832024-03-31SC2209832022-04-012023-03-31SC220983core:RetainedEarningsAccumulatedLosses2023-03-31SC220983core:RetainedEarningsAccumulatedLosses2022-03-31SC220983core:ShareCapital2024-03-31SC220983core:ShareCapital2023-03-31SC220983core:OtherMiscellaneousReserve2024-03-31SC220983core:OtherMiscellaneousReserve2023-03-31SC220983core:RetainedEarningsAccumulatedLosses2024-03-31SC220983core:RetainedEarningsAccumulatedLosses2023-03-31SC2209832023-03-31SC220983core:RetainedEarningsAccumulatedLosses2022-04-012023-03-31SC220983core:Non-currentFinancialInstrumentscore:AfterOneYear2024-03-31SC220983core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-31SC220983core:CurrentFinancialInstruments2024-03-31SC220983core:CurrentFinancialInstruments2023-03-31SC220983core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-31SC220983core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-31SC220983core:Non-currentFinancialInstruments2024-03-31SC220983core:Non-currentFinancialInstruments2023-03-31SC220983core:UKTax2023-04-012024-03-31SC220983core:UKTax2022-04-012023-03-31SC22098312023-04-012024-03-31SC22098312022-04-012023-03-31SC22098322023-04-012024-03-31SC22098322022-04-012023-03-31SC220983core:Non-currentFinancialInstrumentscore:UnlistedNon-exchangeTraded2024-03-31SC220983core:Non-currentFinancialInstrumentscore:UnlistedNon-exchangeTraded2023-03-31SC220983bus:PrivateLimitedCompanyLtd2023-04-012024-03-31SC220983bus:FRS1022023-04-012024-03-31SC220983bus:Audited2023-04-012024-03-31SC220983bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP