Scottish Grocers Federation (Holdings) Limited Company accounts

COMPANY REGISTRATION NUMBER: SC111028

Scottish Grocers Federation (Holdings) Limited

Company Limited by Guarantee

Unaudited Financial Statements

31 December 2025

Scottish Grocers Federation (Holdings) Limited

Company Limited by Guarantee

Financial Statements

Year ended 31 December 2025

Contents	Page

Directors' report	1

Statement of comprehensive income	4

Statement of financial position	5

Statement of changes in equity	6

Notes to the financial statements	7

The following pages do not form part of the financial statements

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	12

Scottish Grocers Federation (Holdings) Limited

Company Limited by Guarantee

Directors' Report

Year ended 31 December 2025

The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2025 .

Principal activities

The principal activity of the company is to act as a holding company to the other companies within the group.

Directors

The directors who served the company during the year were as follows:

W D Adye
P S Cheema
A Majid
M S Sadiq
D K S Williams
G D Watson

H S Aslam
C D Brown
M A Rajak
B A Forbes
P Stirling
A S Kenny
K Scott
C I Lynn

G Malcolm	(Appointed 1 January 2025)
K McCrae	(Appointed 1 January 2025)
M Leonard	(Appointed 25 March 2025)
S Sud	(Appointed 14 May 2025)
N Russell	(Appointed 2 April 2025)
M Leonard	(Resigned 28 February 2025)
D J Brown	(Resigned 27 September 2025)
C D B Gallacher	(Resigned 25 March 2025)

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 20 May 2026 and signed on behalf of the board by:

P S Cheema

Director

Registered office:

Federation House

222-224 Queensferry Road

Edinburgh

EH4 2BN

Scottish Grocers Federation (Holdings) Limited

Company Limited by Guarantee

Statement of Comprehensive Income

Year ended 31 December 2025

	2025	2024
Note	£	£

Tax on profit	1,286	–
	-------	----
Loss for the financial year	( 1,286)	–
	-------	----

Revaluation of tangible assets	6,670	–
Reclassification from revaluation reserve to profit and loss account	( 6,670)	–
	-------	----
Other comprehensive income for the year	–	–
	-------	----
Total comprehensive income for the year	( 1,286)	–
	-------	----

All the activities of the company are from continuing operations.

Scottish Grocers Federation (Holdings) Limited

Company Limited by Guarantee

Statement of Financial Position

31 December 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5	86,550	86,550
Investments	6	200	200
		---------	---------
		86,750	86,750
		---------	---------
Total assets less current liabilities		86,750	86,750

Provisions	2,431	1,145
	---------	---------
Net assets	84,319	85,605
	---------	---------

Capital and reserves

Revaluation reserve	90,840	84,170
Profit and loss account	( 6,521)	1,435
	---------	---------
Members funds	84,319	85,605
	---------	---------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 20 May 2026 , and are signed on behalf of the board by:

P S Cheema	G D Watson
Director	Director

Company registration number: SC111028

Scottish Grocers Federation (Holdings) Limited

Company Limited by Guarantee

Statement of Changes in Equity

Year ended 31 December 2025

			Revaluation reserve	Profit and loss account	Total
Note			£	£	£
At 1 January 2024			84,170	1,435	85,605

Profit for the year				–	–

At 31 December 2024			84,170	1,435	85,605

Loss for the year				( 1,286)	( 1,286)
Other comprehensive income for the year:
	Revaluation of tangible assets	5	6,670	–	6,670
	Reclassification from revaluation reserve to profit and loss account		–	( 6,670)	( 6,670)
			---------	-------	---------
Total comprehensive income for the year			6,670	( 7,956)	( 1,286)

			---------	-------	---------
At 31 December 2025			90,840	( 6,521)	84,319
			---------	-------	---------

Scottish Grocers Federation (Holdings) Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 December 2025

1. General information

The company is a private company limited by guarantee, registered in Scotland. The address of the registered office is Federation House, 222-224 Queensferry Road, Edinburgh, EH4 2BN.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on the going concern basis.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Company limited by guarantee

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

5. Tangible assets

	Chain of office and trophies
	£
Cost
At 1 January 2025 and 31 December 2025	86,550
	---------
Depreciation
At 1 January 2025 and 31 December 2025	–
	---------
Carrying amount
At 31 December 2025	86,550
	---------
At 31 December 2024	86,550
	---------

Tangible assets held at valuation

The chain of office and other trophies held by the company were revalued in 2022 by Lyon & Turnbull auctioneers. The directors are of the opinion that there has been no change in the value since the valuation date.

6. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2025 and 31 December 2025	200
	----
Impairment
At 1 January 2025 and 31 December 2025	–
	----

Carrying amount
At 31 December 2025	200
	----
At 31 December 2024	200
	----

The company owns 100% of the share capital of both PGMA (Scotland) Limited and SGF Services Limited.

Scottish Grocers Federation (Holdings) Limited

Company Limited by Guarantee

Management Information

Year ended 31 December 2025

The following pages do not form part of the financial statements.

Scottish Grocers Federation (Holdings) Limited

Company Limited by Guarantee

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Scottish Grocers Federation (Holdings) Limited

Year ended 31 December 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Scottish Grocers Federation (Holdings) Limited for the year ended 31 December 2025, which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of Scottish Grocers Federation (Holdings) Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Scottish Grocers Federation (Holdings) Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Scottish Grocers Federation (Holdings) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Scottish Grocers Federation (Holdings) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Scottish Grocers Federation (Holdings) Limited. You consider that Scottish Grocers Federation (Holdings) Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Scottish Grocers Federation (Holdings) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

GIBSON McKERRELL BURROWS LIMITED Chartered Accountants

28 Rutland Square Edinburgh EH1 2BW

20 May 2026