Inchcape Family Investments Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC035091 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023

FOR

INCHCAPE FAMILY INVESTMENTS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

The Right Hon. Earl of Inchcape

The Hon. J J T Mackay

Viscount Fergus Glenapp

SECRETARY:

Martin and Company (Company Secretaries) Limited

REGISTERED OFFICE:

Glenapp Estate Office

Glenapp Estate

Ballantrae

Girvan

KA26 0NY

REGISTERED NUMBER:

SC035091 (Scotland)

ACCOUNTANTS:

Martin and Company

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

FIXED ASSETS

Investments

4

6

6

CURRENT ASSETS

Debtors

5

2

1,596,020

CREDITORS

Amounts falling due within one year

6

2

2

NET CURRENT ASSETS

-

1,596,018

TOTAL ASSETS LESS CURRENT LIABILITIES

6

1,596,024

CAPITAL AND RESERVES

Called up share capital

7

10

855,536

Share premium

-

740,839

Retained earnings

(4

)

(351

)

SHAREHOLDERS' FUNDS

6

1,596,024

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4th December 2023 and were signed on its behalf by:

Viscount Fergus Glenapp - Director

1.	STATUTORY INFORMATION

Inchcape Family Investments Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Unlisted investments are valued by the Directors using all available information.

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 .

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST

At 1st April 2022

and 31st March 2023

1

5

6

NET BOOK VALUE

At 31st March 2023

1

5

6

At 31st March 2022

1

5

6

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Amounts owed by group undertakings

-

4,647,279

Provision on amounts owed by

group undertakings

-

(3,051,261

)

Other debtors

2

2

2

1,596,020

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other creditors

2

2

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

10

Ordinary share

£1

10

855,536