Company registration number SC592622 (Scotland)
THE PENDER FAMILY INVESTMENT COMPANY (SCOTLAND) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
THE PENDER FAMILY INVESTMENT COMPANY (SCOTLAND) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
THE PENDER FAMILY INVESTMENT COMPANY (SCOTLAND) LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
1,542,912
1,103,621
Current assets
Debtors
4
5,264,251
3,928,094
Cash at bank and in hand
276,226
112,420
5,540,477
4,040,514
Creditors: amounts falling due within one year
5
(4,722,010)
(3,435,217)
Net current assets
818,467
605,297
Total assets less current liabilities
2,361,379
1,708,918
Creditors: amounts falling due after more than one year
6
(500,020)
(500,020)
Net assets
1,861,359
1,208,898
Capital and reserves
Called up share capital
7
100
100
Distributable profit and loss reserves
1,861,259
1,208,798
Total equity
1,861,359
1,208,898
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 20 March 2025 and are signed on its behalf by:
K Pender
Director
Company Registration No. SC592622
THE PENDER FAMILY INVESTMENT COMPANY (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
The Pender Family Investment Company (Scotland) Limited is a private company limited by shares incorporated in Scotland. The registered office is Garnock House, 16 Kenilworth Road, Bridge of Allan, Stirling, Stirlingshire, United Kingdom, FK9 4DU.
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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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.
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.
1.2
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.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.3
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
THE PENDER FAMILY INVESTMENT COMPANY (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
752,378
410,008
Other investments other than loans
790,534
693,613
1,542,912
1,103,621
THE PENDER FAMILY INVESTMENT COMPANY (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
3
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Shares in subsidiaries
Other investments
Total
£
£
£
Cost or valuation
At 1 April 2023
410,008
693,613
1,103,621
Additions
342,370
77,251
419,621
Valuation changes
-
136,540
136,540
Disposals
-
(116,870)
(116,870)
At 31 March 2024
752,378
790,534
1,542,912
Carrying amount
At 31 March 2024
752,378
790,534
1,542,912
At 31 March 2023
410,008
693,613
1,103,621
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
906,243
781,819
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
4,358,008
3,146,275
Total debtors
5,264,251
3,928,094
5
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
3,188
Other creditors
4,718,822
3,435,217
4,722,010
3,435,217
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
500,020
500,020
THE PENDER FAMILY INVESTMENT COMPANY (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A Shares of £1 each
26
26
26
26
Ordinary B Shares of £1 each
26
26
26
26
Ordinary C Shares of £1 each
16
16
16
16
Ordinary D Shares of £1 each
16
16
16
16
Ordinary E Shares of £1 each
16
16
16
16
100
100
100
100
8
Non-distributable profits reserve
2024
2023
£
£
At the beginning of the year
-
(32,045)
Non distributable profits in the year
-
32,045
At the end of the year
-
-
9
Related party transactions
The following amounts were outstanding at the reporting end date:
2024
2023
Amounts due to related parties
£
£
Key management personnel
2,002,906
2,036,456
Other related parties
2,689,936
1,378,885
The following amounts were outstanding at the reporting end date:
2024
2023
Amounts due from related parties
£
£
Other related parties
906,243
781,819
Other information
Loans due to / from related parties are unsecured, interest free and have no fixed terms of repayment.