The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

Caley Investments Limited is a private company limited by shares incorporated and domiciled in Scotland. The registered office and main trading address is 5-8 Bridge Street, Peterhead, United Kingdom, AB42 1DH.

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.

Caley Investments Limited is a wholly owned subsidiary of Andrew Marr International Limited and the results of Caley Investments Limited are included in the consolidated financial statements of Andrew Marr International Limited which are available from Companies House .

The company had net current liabilities of £2,660,262 (2024: £2,640,813) largely reflecting net intercompany payable position of £2,632,962 (2024: £2,617,863). At the time of approving the financial statements, the directors have a reasonable expectation that the company has through support from its ultimate parent company or through other group companies, adequate resources to continue to trade for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

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.

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

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

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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.

Basic financial liabilities, including creditors, and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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.

The tax expense represents the sum of the tax currently payable and deferred 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.

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.

Pension costs and other post-retirement benefits

The company operates a final salary defined benefit pension scheme which is accounted for under the requirements of FRS 102. The assets and liabilities of the scheme are disclosed in the financial statements based on information provided by the actuary to the scheme.

Net actuarial gains and losses are recognised in the statement of total recognised gains and losses in the period in which they occur. The current service cost and interest on pension liabilities less expected return on assets are charged to the profit and loss account in the period in which they occur. The current pension cost reflects the amount that would need to be paid at the start of the reporting period in order to meet the cost of the benefit accrual during the period based on projected salaries at retirement or earlier leaving.

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. Revisions 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.

Carrying value of fixed asset investments

The directors regularly assess the carrying value of fixed asset investments (which includes investments in fellow group undertakings) and recognise an impairment charge in the profit and loss account if any impairment indicators are identified.

The directors consider that there are no other judgements, estimates or underlying assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities.

Defined benefit pension liability

Accounting for the company's defined benefit scheme involves judgements about uncertain events including estimating retirement dates, salary levels at retirement, mortality rates, determination of discount rates for measuring plan obligations and net interest expense and assumptions for inflation rates. The assumptions used are reviewed by the directors at each period end. These assumptions are used by the scheme actuary to determine the projected benefit obligations at the period end and hence surpluses and deficits are recorded. The assumptions used are provided in note 6.

Amounts owed to group undertakings are interest free and repayable on demand.

The company operates a defined benefit scheme in the UK for qualifying employees. This is a separate trustee administered fund holding the pension scheme assets to meet long term pension liabilities. A full actuarial valuation was carried out at 5 April 2016 and updated to 31 March 2025 by a qualified actuary, independent of the scheme's sponsoring employer. The major assumptions used by the actuary are shown below.

An actuarial valuation was completed valuing the plan assets and the present value of the defined benefit obligations as at 31 March 2025 on 29 May 2025.

In August 2021 the plan purchased a buy-in assurance policy from Legal & General Group plc. As the legal obligation to pay benefits still rests with the plan and hence the company the value of the insurance policy is set equal to the corresponding value of the underlying benefit obligation (as adjusted for GMP equalisation).

Assumed life expectations on retirement at age 63:

Amounts recognised in the profit and loss account

Costs and interest associated with the defined benefit pension scheme have been charged to and settled by a fellow group company.

Amounts taken to other comprehensive income

The amounts included in the balance sheet arising from the company's obligations in respect of defined benefit plans are as follows:

The defined benefit pension scheme surplus has not been recognised in the balance sheet as it is not considered to be recoverable.

Movements in the present value of defined benefit obligations

The defined benefit obligations arise from plans funded as follows:

Movements in the fair value of plan assets

The actual loss on plan assets was £5,000 (2024: return actual return of £282,000).

Fair value of plan assets at the reporting period end

The share capital account records the nominal value of shares issued. The ordinary shares carry equal voting rights and no right to fixed income.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

At 31 March 2025 the company had entered into a cross guarantee with its parent and fellow subsidiary companies in connection with advances and borrowings from The Royal Bank of Scotland plc, net of cash at bank, totaling £nil (2024: £nil). The Royal Bank of Scotland have standard securities and a bond and floating charge over the whole property and undertaking.

The company has taken advantage of the exemption available in section 33 of FRS 102 'Related party disclosures' not to disclose transactions entered into between two or more members of a group, as the company is a wholly owned subsidiary undertaking of the group to which it is party to the transactions.

The ultimate parent company and controlling party is Andrew Marr International Limited, a company registered in England. Andrew Marr International Limited represents the largest and smallest group which prepares consolidated financial statements. A copy of the group financial statements are available from Companies House.