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doc16815 2eeacd00-236f-4c43-b8fc-fa199b04748d_Scottish-Enterprise-Annual-Report-and-Accounts-2025-26-artifacted.pdf

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            "text": "Delivering Impact",
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            "text": "Scotland has the assets, talent and ambition to compete globally. In 2025/26, we have translated these strengths into impact-working with businesses and partners to unlock opportunity where it matters most. Our performance reflects continued progress in strengthening Scotland's economy-supporting businesses to grow, scale and attract investment."
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            "text": "The year also brought material headwinds. Higher employer costs, a tariff environment that disrupted trade flows, and global investment confidence at a multi-year low, all weighed on activity. Foreign direct investment fell by 11% globally and by as much as 58% across Europe. Overall, growth remained positive, but below potential."
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            "text": "There were also clear signs of resilience. Interest rates began to stabilise, Scotland's underlying attractiveness to international investors held firm, and new export opportunities are emerging in high-value sectors and markets, such as life sciences and AI - pointing to long-term potential. Our trade performance reflected these conditions, with supported projects securing £2.15bn in export sales - among our strongest annual results over time and above the five-year average."
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            "text": "Our response to the environment is to remain focused and disciplined, channelling support to where it has most impact. Strengthening our international presence, and deepening engagement in priority markets such as the US and the Middle East."
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Page 6

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            "text": "We continue to bring partners together to shape investable opportunities and mobilise international capital to deliver sustainable, long-term growth for Scotland. This year, Scottish Enterprise supported just under 12,500 planned Real Living Wage jobs and over £1 billion of planned capital investment, sustaining strong performance in a more demanding environment. We are focusing on where we can make the biggest difference - accelerating near-term opportunities such as grid infrastructure, while applying advanced technologies, including artificial intelligence, across sectors such as life sciences, space and financial services. At the same time, we are strengthening the pipeline of longer-term opportunities to ensure Scotland remains competitive as conditions evolve."
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            "text": "Our impact is evident. In Glasgow, Hitachi Energy is creating high-value engineering roles to strengthen the UK grid. In Grangemouth, our partnership with Celtic Renewables is supporting large-scale production of sustainable chemicals and enabling a just transition."
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            "text": "What increasingly determines success is not only our core strengths - skills, infrastructure and innovation - but the quality of service we provide. Pace, responsiveness and alignment across partners are often what makes the difference. This allows us to bring partners together to shape collective solutions - from major place-based opportunities such as Grangemouth to new approaches supporting internationalisation and access to capital."
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            "text": "We have also continued to simplify Scottish Enterprise using technology and data to enhance both the experience of businesses and the efficiency of our organisation. Strong cost discipline ensures we remain focused on what matters most."
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            "text": "Looking ahead, competition for investment will intensify. But our direction is clear: back ambitious businesses to innovate and scale internationally, transforming the economy and delivering a more successful, greener and fairer Scotland."
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            "text": "Adrian Gillespie\nChief Executive\nScottish Enterprise"
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            "text": "Scottish Enterprise is an executive Non Departmental Public Body of the Scottish Government and was established under the Enterprise and New Towns (Scotland) Act 1990.",
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            "text": "At Scottish Enterprise, we use our regional connectivity, national role and international reach to deliver our purpose: to back ambitious businesses to innovate and scale internationally to transform Scotland's economy. In doing this, we make a significant contribution to the Scottish Government's priorities of growing the economy while tackling the climate emergency, creating better outcomes for Scottish people and eradicating child poverty, and improving public services."
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                    "text": "Major grants programmes, including Regional Selective Assistance (RSA) and SMART: SCOTLAND grants."
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Page 13

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Page 15

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            "text": "Deliver"
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            "text": "£5.2 billion"
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            "text": "of capital investment"
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            "text": "Generate"
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            "text": "£10 billion"
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            "text": "in additional export sales"
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Page 18

32 item(s) JSON
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Page 18 JSON
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Page 19

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Page 19
1 · HEADER
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9
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Page 19 JSON
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            "text": "To assess how our economic development support meets our objectives of benefiting businesses, people and the Scottish economy, we apply a comprehensive measurement framework. We use performance measures to help monitor the contribution we make to Scotland's economic performance and the longer-term goals of the Scottish Government. We work closely with our partner agencies - Highlands and Islands Enterprise and South of Scotland Enterprise in particular - to further align our measurement approaches and actively keep this under review."
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                    "text": "Outcome Measure\nPlanned real living wage jobs",
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                    "text": "Of which planned higher paid jobs",
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                    "text": "Planned innovation investment (£m)\nPlanned capital expenditure (£bn)\nGrowth funding (£m)\nPlanned export sales (£bn)\nEstimated Co2e savings (000s tonnes)\n*Not measured",
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            "text": "Scottish Enterprise's 2025-26 operating year continued to be influenced by a challenging economic and business operating environment that impacted many businesses and their investment decisions, including:"
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                    "text": "General global instability and increased levels of conflict."
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                    "text": "Greenfield Foreign Direct Investment (FDI) into Western Europe fell for the third year, particularly acute in the renewables sector. Global uncertainty and geopolitical tensions saw international companies increasingly adopting localisation or regionalisation as the core element of their growth and investment strategies, rather than overseas investment."
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Page 20

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            "text": "Globally challenging equity risk capital market, with investors increasingly focused on fewer and larger deals. At the early stage, this has made it more difficult for companies to raise new funding, reflecting lower levels of investor risk tolerance.",
            "marker": "-"
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            "text": "As a result of these challenges, a number of projects supported by Scottish Enterprise were delayed, which impacted on our published outturns, particularly the year-end position on Jobs."
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            "text": "1,061 unique companies delivering 1,686 projects contributed to 2025/26 outcome measures. A breakdown of those companies in terms of size is shown below."
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                "embedded_text": "Large,\n9%\nShare\nof companies\nby size (%)\nMicro, SME,\n36% 48%"
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Page 21

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            "text": "In 2025/26, Scottish Enterprise awarded 879 grants to 663 organisations, across a range of sectors and geographies, to the value of £182.5m."
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            "text": "During 2025/26, Scottish Enterprise invested £50m in 129 investment deals, into 105 companies. £4m was invested through debt instrument, with the remaining £46m through equity instruments (including convertible loans)."
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Page 22

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            "text": "Scottish Enterprise played a direct role in securing Hitachi Energy's UK Engineering Centre of Excellence in Glasgow, creating around 100 specialist roles while supporting critical grid upgrades. The centre will deliver major electricity transmission and distribution projects, enabling renewable integration, strengthening grid resilience and supporting a secure, affordable and sustainable energy system aligned to the UK's Clean Power 2030 ambitions and Scotland's 2045 net zero target. This investment reinforces Scotland's position as a global leader in the energy transition and demonstrates Scottish Enterprise's role in attracting investment, enabling green infrastructure and supporting the growth of the clean energy economy."
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            "text": "A partnership at the Energy Transition Zone (ETZ) in Aberdeen formalises a long-term commitment to co-design and co-fund transformational projects, strengthening supply-chain capability and attracting global investment."
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            "text": "Strengthening innovation ecosystems through a more joined up approach with partners, including place-based cluster opportunities and targeted industry cluster development. Worked with the Scottish Government to progress cluster strengthening across Life Sciences, Industrial Biotechnology, Space, Fintech and Critical Technologies (Photonics, Quantum and Semiconductors).",
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            "text": "Supported by a Scottish Enterprise capital grant of £649,000, the Colhoun Estates project demonstrates progress in developing high-specification manufacturing accommodation. The project delivers 35,000 sq ft of advanced manufacturing space at Gateway Glasgow, Cambuslang, designed to support innovative production technologies and address a recognised lack of supply in the area. The development is expected to leverage £3.215m in private sector capital investment. At full occupancy, the facility is projected to create and sustain around 130 FTE manufacturing jobs, strengthening Scotland's advanced manufacturing base and contributing to productivity and investment objectives. Delivering a competitive pipeline of property solutions for Scotland's future industries is a priority across all three missions."
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Page 32

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            "text": "The Ryanair investment at Prestwick Airport shows how Scottish Enterprise unlocks private investment to deliver ambitious, productivity-enhancing projects through coordinated public sector partnership."
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            "text": "Scottish Enterprise supported Ryanair's £40m expansion at Prestwick with £11.6m of investment, alongside £1.52m for enabling infrastructure. This investment represents a significant boost for Ayrshire and Scotland's aerospace sector. It demonstrates how our mission-led approach is supporting high-value jobs, productivity improvement and the development of globally competitive clusters."
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Page 36

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Page 38

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            "text": "i) This represents budget transfers to reflect re-classifications as a result of the implementation of IFRS 16 (Leases) from April 2022."
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        {
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            "text": "The original Budget for 2025-26 amounted to £238.2m, comprising a grant in aid cash provision of £205.8m and a net non-cash allocation of £32.4m which consisted of £20.5m to cover ECLs; £13.5m to cover depreciation; less £1.6m cash adjustment relating to IFRS 16 leases."
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            "text": "During the year, Scottish Government confirmed a large number of additional net transfers of budget amounting to £118.4m. The largest individual programme transfers were £6.9m Capital (CDEL) towards the Grangemouth Just Transition Fund and £5.9m Resource (RDEL) towards Scottish Development International activity. There was also a significant non-project transfer made during the Spring Budget Revision of £93m to cover Annual Managed Expenditure (AME)."
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Page 39

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            "text": "Consequently, the final approved Total Budget for 2025-26 amounted to £356.6m, comprising a cash budget of £232.7m and non-cash allocation of £123.9m. Details of Scottish Enterprise's financial outturn against the budget allocated by the Scottish Government for 2025-26 are included within the Parliamentary Accountability and Audit Report section of the Accountability Report."
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            "text": "Scottish Enterprise entered the 2025-26 financial year with a strong pipeline of projects with a value greater than our available budget. In order to allow maximum flexibility in the delivery of these projects, budget allocations were made based on the prioritised pipeline of projects rather than on available income. This was done recognising that there would be natural reductions in planned expenditure through the year, as well as the introduction of new priority projects, and this would be closely monitored with management of our income and expenditure budgets throughout the year. The over-allocations totalled £47.4m and were split between Capital (CDEL) of £39.7m and Resource (RDEL) of £7.7m. Financial Transactions (FT) budget was balanced from the start of the financial year. The chart below shows how the budget position changed during the financial year resulting in a successful out-turn position."
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                "embedded_text": "50\n40\n30\n20\n10\n0\n-10\n-20\nBusiness P2 Plan P4 Plan P5 Plan P6 Plan P7 Plan P8 Plan P9 Plan P10 Plan P11 Plan Final\nPlan Outturn\nCDEL FT RDEL Total"
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            "text": "The CDEL budget pressure eased relatively quickly mainly through reduced expenditure forecasts as some projects did not proceed or progressed more slowly than expected. At the same time, pressures were increasing in the FT budget due to reduced income expectations and both budgets were re-balanced by the half year point primarily through funding investment expenditure from CDEL rather than FT."
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Page 40

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            "text": "During the second half of the year, the CDEL and FT budgets were managed collectively with both budgets remaining balanced as we approached year-end through adjusting the income expected from listed share sales to account for changes in expenditure forecasts. The final CDEL net under-spend was £1.8m primarily reflecting our overall financial objective of a balanced budget with marginal bias towards a small under-spend. This prudent approach is required to avoid an over-spend and is considered a positive final out-turn position given the volatility in underlying income and projects delivered. The FT budget remained balanced at year-end."
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Page 41

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            "text": "41",
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        {
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            "text": "Look Forward - 2026-27",
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            "level": 3
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        {
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            "bbox": {
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            "text": "The Total Budget from Scottish Government for 2026-27 amounts to £237.1m including ring fenced allocations towards the Prestwick Hangar Expansion Project (£1.620m Resource and £1.520m Capital) and a DEL non-cash budget provision of £13.5m. The total budget is also net of £16.5m FT income budget to be generated by Scottish Enterprise in respect of anticipated returns based on financial asset investments originally funded from FT monies."
        },
        {
            "id": "p41.6",
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                    "text": "Grant in Aid Budget Allocation 2026-27:",
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                    "text": "Original Budget Allocation\n£000",
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                    "text": "Fiscal Resource\nFiscal Capital\nFinancial Transactions expenditure\nFinancial Transactions income\nTotal Cash Budget\nFiscal Resource - expected credit losses\nFiscal Resource - IFRS 16 adjustments\nFiscal Capital - IFRS 16 adjustments\nTotal Fiscal Budget",
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                    "text": "114,919\n83,558\n17,431\n(16,500)\n199,408\n20,500\n(1,377)\n5,044\n223,575",
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                    "text": "Ring fenced DEL\\n(Non-cash costs including depreciation)",
                    "attrs": {
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                    "type": "table_cell",
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                    "text": "13,500",
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                    "text": "Annually managed expenditure",
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                {
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                    "text": "-",
                    "attrs": {
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                },
                {
                    "id": "p41.6.9",
                    "order": 15,
                    "type": "table_cell",
                    "bbox": {
                        "l": 46.8,
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                    "text": "Total Budget",
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                },
                {
                    "id": "p41.6.10",
                    "order": 16,
                    "type": "table_cell",
                    "bbox": {
                        "l": 503.04,
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                    "text": "237,075",
                    "attrs": {
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            "id": "p41.7",
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            "text": "The total Scottish Enterprise Budget is supplemented by business income generated and used to support business plan expenditure during the year. In addition, further transfers of budget from the Scottish Government are anticipated through the normal operation of the Scottish Government's Budget Revision processes."
        },
        {
            "id": "p41.8",
            "order": 18,
            "type": "text",
            "bbox": {
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            "text": "Although we have separately identified an ECL budget of £20.5m as a prudent starting position, the Scottish Government did not specifically ring-fence this budget. Should ECL costs be lower than £20.5m, excess budget can be transferred to core cash budget to support wider economic development projects as part of a package of flexibilities agreed towards the end of 2025/26. However, should ECL budget requirements increase above £20.5m, the Scottish Government have recognised that costs relating to past investments can be difficult for Scottish Enterprise to manage, therefore in line with 2025/26, we will closely engage with the Scottish Government on ECL costs and forecasts against budget"
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Page 42

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            "text": "SCOTTISH ENTERPRISE ANNUAL REPORT AND ACCOUNTS 2026",
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            "text": "as the year progresses, highlighting any difficulties and pressures in managing within this envelope. Scottish Government has approved the carry forward of reserves up to £3m from budget allocations from 2025/26 onwards to support future delivery. Based on final out-turn, we are able to carry forward £2.1m RDEL and £0.9m CDEL."
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        {
            "id": "p42.5",
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            "text": "The Capital IFRS16 allocation of £5m was intended to be ring-fenced based on the timing of expected costs. However, the majority of the expenditure was incurred in 2025/26 and there is agreement with Scottish Government that this budget can be transferred to core cash budget for 2026/27 to fund projects deferred to enable the expenditure in 2025/26."
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            "text": "There will also be an opportunity later in the year to secure budget to cover costs that are charged to the Annually Managed Expenditure (AME) budget heading."
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            "text": "As at 31 March 2026, Scottish Enterprise's net assets decreased by £45.9m to £469.6m (2025: £515.5m) as reported in Scottish Enterprise's Group Statement of Financial Position. This reduction was primarily driven by a £81.3m decrease in financial assets, largely reflecting a fall in the fair value of other investments to £390.6m (2025: £471.2m)."
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        {
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            "text": "Non-current assets decreased overall to £567.3m (2025: £622.6m), mainly due to the reduction in financial assets noted above. This was partially offset by increases in property, plant and equipment and right of use assets, the latter reflecting remeasured lease arrangements during the year and a significant improvement in the pension position, with the retirement benefit scheme moving from a net deficit position in the prior year to a net asset position of £11.3m (2025: deficit £8.3m). This £19.6m improvement can be attributed to higher corporate bond yields over the period and 44 active members leaving through the Voluntary Exit Scheme, leading to a decrease in liabilities. This has been partially offset by higher levels of inflation, an increase in future life expectancies and lower than expected asset returns."
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            "id": "p42.10",
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            "text": "Current assets reduced by £6.8m to £192.6m (2025: £199.4m). This was driven by lower levels of short-term investments and assets held for sale, partially offset by an increase in cash and cash equivalents to £175.6m (2025: £170.2m). Trade and other receivables remained broadly stable year on year."
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        {
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            "text": "Current liabilities decreased significantly by £22.1m to £64.4m (2025: £86.5m), primarily due to reductions in trade and other payables and provisions. This reflects the timing of expenditure and settlement of liabilities during the year."
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            "text": "Scottish Enterprise accesses Financial Transactions funding from the Scottish Government to support investment in companies and the provision of loans. These funds are repayable over terms of up to 15 years, based on estimated returns from the underlying investments."
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Page 43

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            "text": "During the year, £22.2m was drawn down and £10m repaid. A further £13.9m was waived by the Scottish Government following the write-off of the underlying investments, resulting in a net loan reduction of £1.7m."
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            "text": "Scottish Enterprise has a stated service commitment to pay our suppliers within 30 days of receipt of agreed and valid invoice, or as provided for under the terms of an agreed contract. However, following guidance from Scottish Government, Scottish Enterprise implements a payment policy of 10 working days for all suppliers."
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            "text": "In the year ended 31 March 2026, Scottish Enterprise paid 87% (2025: 86%) of suppliers' invoices within the revised standard. The average number of days taken to pay valid invoices during the year was 7.4 days (2025: 8.0 days)."
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            "text": "Scottish Enterprise has policies and procedures in place to address fraud, corruption and bribery. All Scottish Enterprise colleagues are required to act honestly and with integrity, and to safeguard the public resources for which they are responsible. Scottish Enterprise will not accept any level of fraud or corruption. Our commitment to ethical standards is set out in the Scottish Enterprise Code of Conduct for our employees, the Counter Fraud Policy and the Speak Up (Whistleblowing) Policy. These policies are regularly updated to ensure they remain relevant, fit for purpose and aligned with the requirements of the Scottish Public Finance Manual. Training on our approach to addressing fraud, bribery and corruption is included in induction training for all colleagues joining Scottish Enterprise, as well as plans for ongoing refresher training from 2026-27."
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                    "text": "An anonymous submission"
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Page 44

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            "text": "While all colleagues have responsibilities for preventing, detecting and reporting fraud, we recognise that the primary responsibility for designing, operating and reviewing appropriate internal controls to prevent and detect fraud rests with management. Management confirms the effectiveness of these controls through the internal control checklists completed as part of the annual Certificate of Assurance process. This system of internal control is reviewed on an ongoing basis by the Internal Audit Partnership team and by our external auditors, Audit Scotland. The Internal Audit Partnership team gives due regard to the possibility of fraud and other irregularities when undertaking internal audit reviews as part of the Scottish Enterprise Internal Audit Plan and seeks to identify any control weaknesses that could facilitate fraud or irregularities."
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            "text": "Scottish Enterprise continues to participate in the biennial National Fraud Initiative (NFI). Led by Audit Scotland, this counter-fraud exercise collects and matches data between participating public bodies to identify possible fraudulent transactions. There were no material issues arising from the 2024–25 NFI exercise for Scottish Enterprise."
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            "text": "During 2025–26, we made improvements in our counter-fraud maturity. We developed an organisation-wide fraud risk assessment to understand our specific vulnerabilities to fraud. We also refreshed our induction training materials and updated our Counter Fraud Policy and Speak Up (Whistleblowing) Policy to ensure they are aligned with current best practice."
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            "text": "Human Rights Due Diligence",
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            "id": "p44.8",
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            "text": "In line with Scottish Government guidance to public bodies, Scottish Enterprise is committed to human rights and requires human rights checks to be carried out before entering into business relationships for Scottish Enterprise funding. Scottish Enterprise reviewed its due diligence processes in 2025/26, which included the development of revised procedures. The review identified areas for enhancement, reflecting the increasingly complex geopolitical landscape in which Scottish Enterprise operates. Changes include an enhanced online screening and the introduction of targeted checks requiring a customer statement specifically addressing items and activities governed by the UK Strategic Exports Regime."
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            "text": "Following the First Minister's Parliamentary statement in September 2025, Scottish Enterprise paused the payment of new grants to, or investment in companies involved in the design, production, supply, and support of military equipment, technologies, and services whose products or services are provided to specific identified countries, where there is plausible evidence of genocide being committed by that country."
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Page 45

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            "text": "Scottish Enterprise has continued to implement a Sanctions Policy in line with UK Government's Legal Sanctions, and since March 2022 has continued to implement the Scottish Government's additional Discretionary Economic Measures Policy towards Russia, which have the intent to weaken the Russian regime's war efforts. The purpose of the policy is to help ensure that we are not supporting companies or individuals subject to legal sanctions and those companies that retain Russian or Belarusian trading or investment links, where these are able to be divested of."
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            "text": "We are implementing The Fairer Scotland Duty which requires public authorities, including Scottish Enterprise, to address socio economic inequalities. This focuses on ensuring fair economic opportunities in line with Scottish Government's goals. The duty mandates strategic decisions to be carefully assessed, such as economic development strategies. We have integrated procedures and guidance to support colleagues in conducting assessments, aligned with our equality impact process. These requirements are included in our project lifecycle and applied to approvals from January 2019 onwards. A list of our published assessments is available on our website."
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            "text": "This builds on our equality obligations under the Equality Act 2010 and associated Scottish Specific Equality Duties. Further details are contained in our Equality Mainstreaming Report.",
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            "text": "We have a comprehensive Corporate Social Responsibility (CSR) strategy that supports our organisational goals and values, ensuring we act as a responsible corporate citizen and play an active role in communities across Scotland. Key elements of this strategy include our volunteering policy and partnerships with charities."
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            "text": "We operate a well-established, colleague supported volunteering programme. Our volunteering policy reflects our commitment to supporting local communities and the environment, while also contributing to the development of our people. To encourage greater participation, we introduced micro volunteering, allowing colleagues to volunteer for short periods (a minimum of one hour), rather than limiting volunteering leave to half or full days. This change has increased accessibility and uptake across the organisation."
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            "text": "Colleagues can access up to 21 hours of paid volunteering leave per year (pro rata for part time colleagues). During the period 1 April 2025 to 31 March 2026, colleagues recorded 989 hours of paid volunteering leave. A total of 125 colleagues participated across 175 volunteering instances, with individual activities ranging from one hour to three days."
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            "text": "SE also operates a constituted Staff Charity Fund which is funded by voluntary pay deductions from SE staff. Staff retiring from SE can also request a £100 donation to be made to a charity/community group of their choice."
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                    "text": "Five vibrant colleague-led community groups with 440+ members, championing inclusion through awareness, allyship and peer support, all are welcome\nColleagues from minority ethnic groups made up 21% of new hires (8%) and 28% (11%) of new start graduates"
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                    "text": "80% | 67% | 55%\n(EXECUTIVE) (DIRECTOR) (HEADS OF SERVICE)"
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            "text": "The corporate emissions data noted below covers the 2024-25 reporting year and aligns with our annual Public Bodies Climate Change Duties Report (PBCCD) submitted to the Sustainable Scotland Network and published at Sustainable Scotland Network detailing our yearly carbon performance.",
            "children": [
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            "text": "During the 2024-25 reporting year Scottish Enterprise's emissions reduced by 9% (111 tCO [p47.8.1]e), an 80% reduction in Scope 1, 2 and 3 emissions (within existing reporting boundaries) compared with the 2015-16 baseline. This exceeds our interim target to reduce by 75% by 2030.",
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                    "text": "₂",
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            "text": "A breakdown of this is shown in the chart and table overleaf."
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    "excluded_furniture": {
        "first": [],
        "last": []
    }
}

Page 48

43 item(s) JSON
figure (1) header (3) table (1) table_cell (37) text (1)
Page 48
1 · HEADER
2 · HEADER
3 · HEADER
4 · FIGURE
5 · TABLE
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43 · TEXT
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Page 49

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            "text": "From the 2025-26 reporting year our target to become a net zero organisation changed to 2035, five years ahead of our original target date. Our goal is to:"
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            "text": "The climate change strategy, alongside climate related risks and opportunities are managed and monitored by the Net Zero Steering Group and Climate Change Advocates (climate representatives from each Scottish Enterprise Division). The aim is to embed a focus on net zero across all Scottish Enterprise operations. Our environmental management system, covering our office facilities, and shared areas of our managed properties, is certified to ISO 14001."
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Page 52

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                    "text": "Adrian Gillespie\nReuben Aitken\nRhona Allison\nJane Martin\nGill McNeill\nKerry Sharp",
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            "text": "Scottish Enterprise undertakes the highest standards of corporate governance and has\nCodes of Conduct in place for Board members and for all colleagues. In compliance with\nthe Ethical Standards in Public Life etc (Scotland) Act 2000, Scottish Enterprise's Code of Conduct for Board members sets out the roles and responsibilities of Board members and\nis published on our website, together with the Board members' registers of interests. The\nRegister of Interests includes details of any financial interests declared, employment and\nappointments, personal interests and any other relevant interests.",
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Page 53

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            "text": "As Chief Executive and Accountable Officer, I am personally responsible for the propriety and regularity of Scottish Enterprise's finances, ensuring that resources are used economically, efficiently and effectively."
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            "text": "I have responsibility for maintaining a sound system of corporate governance and internal control which supports the achievement of the Scottish Enterprise Group's policies, aims and objectives, set by the Scottish Ministers, whilst managing and safeguarding the public funds and assets for which I am personally responsible, in accordance with the responsibilities assigned to me."
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            "text": "As Accountable Officer, I also have specific responsibilities in relation to:"
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                    "text": "Best value"
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                    "text": "Accounting for Scottish Enterprise's activities."
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            "text": "In addition to these specific Accountable Officer duties and ensuring that Scottish Enterprise complies with the requirements of the Scottish Public Financial Manual on the proper handling and reporting of public funds, I am also required to take account of any written authorities provided by the Scottish Ministers. No written authorities were provided to, or requested by, me during 2025-26."
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Page 55

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            "text": "Based on my own review and independent assurances received, it is my view that Scottish Enterprise has in place effective governance and internal control arrangements which are working well and comply with generally accepted best practice and the applicable guidance and principles within the Scottish Public Finance Manual. These arrangements were in place for the year ended 31 March 2026 and to the date of approval of the Annual Report and Accounts. As outlined in the section on Management Assurance Statements, Scottish Enterprise's significant corporate risk relating to financial sustainability is being drawn to the attention of the Scottish Government."
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            "text": "Scottish Enterprise operates within the parameters of the Enterprise and New Towns (Scotland) Act 1990, which defines our purpose of furthering the development of Scotland's economy. Our activities support the delivery of the ambitions set out in Scotland's National Strategy for Economic Transformation alongside other supporting Scottish Government strategies. Scottish Enterprise published 'Our Focus on Economic Transformation' in January 2024, which sets out how - responding to the accelerating pace of change and the multiple challenges facing the global economy - we will focus on transformative opportunities that create high value jobs, boost productivity and build wealth for Scotland's businesses and people, through three economic development missions.",
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            "text": "We place equal importance on how we achieve our goals as on what we deliver. This is reflected in our performance management approach, My Performance, which asks colleagues with People Managers to set objectives that address both outcomes and the behaviours aligned to our values, supporting delivery of our strategic direction."
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            "text": "The Scottish Enterprise Board is directly accountable to the Scottish Ministers and, through them, to the Scottish Parliament. The Board members are appointed by the Scottish Ministers from a variety of backgrounds, based on their knowledge and experience gained in industry, commerce and academia. Appointments are made in line with the ‘Code of Practice for Ministerial Appointments to Public Bodies in Scotland’ issued by the Commissioner for Ethical Standards in Public Life in Scotland.",
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            "text": "The Scottish Enterprise Board has established clear terms of reference and operating practices for itself and its Sub Committees. The Board meets at least bi-monthly, and its sub-committee structure and terms of reference are regularly reviewed."
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            "text": "The Board is responsible for Scottish Enterprise's performance and for ensuring it delivers Scottish Ministers' policies and priorities. Our Framework Document with the Scottish Government outlines the Board's general corporate responsibility for:",
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                    "text": "Setting the direction of our work – making sure that our corporate plans clearly reflect the strategic aims and targets agreed with Scottish Ministers and showing how our activities support national priorities such as the National Strategy for Economic Transformation."
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                    "text": "Approving our annual report and accounts – reviewing and approving the annual report and accounts before they are submitted to Ministers and laid before the Scottish Parliament.",
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                    "text": "Using public resources responsibly – promoting the efficient, effective and economical use of resources in line with best value principles, including working jointly with others."
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                    "text": "Overseeing financial management – regularly scrutinising our financial performance and ensuring we act in accordance with financial guidance issued by the Scottish Government.",
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                    "text": "Appointing and supporting the Chief Executive – appointing the Chief Executive, with the approval of Scottish Minister, and ensuring their objectives reflect strong stewardship of public resources and a clear focus on delivering outcomes."
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                    "text": "Supporting and developing our people – promoting the wellbeing, learning and development of all colleagues, and ensuring that Scottish Enterprise meets its responsibilities as an employer."
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Page 58

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            "text": "As at 31 March 2026, the Board of Scottish Enterprise comprised the Chair, ten other non-executive members and the Chief Executive. The Board met in full seven times during the year, with a further seven meetings convened to consider specific projects for approval."
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            "text": "Professor Sir Jim McDonald KT, GBE was appointed Chair of Scottish Enterprise on 1 January 2025. Five new members were appointed to the Scottish Enterprise Board on 1 January 2026 (Jacqui Gale MBE, Luke Logan, Cameron Murray, Stuart Patrick CBE and Greig Rooney). These appointments are for three years and will run to 31 December 2028. The appointments of Dr Poonam Malik, Dr Sue Paterson and Karthik Subramanya ended on 31 December 2025."
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            "text": "non-executive\nmembers\nduring 2025-26"
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            "text": "The Scottish Enterprise Board has established an Audit and Risk Committee to support the Board in fulfilling its responsibilities in relation to risk, control, governance and associated assurance. The Committee monitors and reports to the Board on planned activity and findings of both internal and external audit, including the adequacy of management responses to issues arising from audit work. The Committee also reviews the accounting policies and the Annual Report and Accounts and makes a recommendation to the Board for approval. The Committee is appointed by the Scottish Enterprise Board from among the non-executive directors and consists of not fewer than three members, at least one of whom is required to have a recent and relevant financial experience. All new members undertake a structured induction covering the role of the Audit and Risk Committee, the organisation's key risks and the audit/assurance landscape. Membership of the Audit and Risk Committee changed in March 2026, with the Committee now comprising five members."
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Page 62

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            "order": 3,
            "type": "header",
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            "text": "63",
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        {
            "id": "p63.4",
            "order": 4,
            "type": "heading",
            "bbox": {
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            "text": "Organisational Model and Operational Management Framework",
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            "level": 3
        },
        {
            "id": "p63.5",
            "order": 5,
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            "bbox": {
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                "b": 637.92
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            "text": "Scottish Enterprise has established an organisational model with clear lines of responsibility and accountability through our organisational structure, linked to budgets and our Delegation of Internal Authority framework."
        },
        {
            "id": "p63.6",
            "order": 6,
            "type": "text",
            "bbox": {
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            "text": "The delivery of our aims and objectives is underpinned by an operational framework comprising key corporate business processes, policies and a comprehensive range of control mechanisms which all aim to ensure compliance with applicable laws and regulations, the effective development and delivery of strategies and plans, compliance with approved policies as well as the accuracy, timeliness and integrity of financial statements and other published information, in accordance with relevant standards and best practice."
        },
        {
            "id": "p63.7",
            "order": 7,
            "type": "text",
            "bbox": {
                "l": 39.1121,
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            "text": "These processes and controls form an integral part of our overall system of internal control. The system of internal control is based on an ongoing process designed to identify the principal risks to the achievement of Scottish Enterprise's policies, aims and objectives, to assess the likelihood and impact of those risks and to manage them efficiently, effectively and economically. These span Scottish Enterprise's entire range of activities and include the following:"
        },
        {
            "id": "p63.8",
            "order": 8,
            "type": "heading",
            "bbox": {
                "l": 40.3119,
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            "text": "Best Value",
            "attrs": {
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            },
            "level": 3
        },
        {
            "id": "p63.9",
            "order": 9,
            "type": "text",
            "bbox": {
                "l": 39.1121,
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                "r": 525.974,
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            "text": "Scottish Enterprise has a formal approach considering best value each year through a structured self-evaluation process, supporting continuous improvement across the organisation."
        },
        {
            "id": "p63.10",
            "order": 10,
            "type": "text",
            "bbox": {
                "l": 39.1121,
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            "text": "To demonstrate that Scottish Enterprise is meeting its statutory best value duties and is exhibiting the characteristics of a best value organisation, we compare our arrangements against the strategic and operational best value characteristics outlined in the Accountable Officer guidance on best value. This assessment identifies any gaps or areas for development.",
            "children": [
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                    "text": "Accountable",
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                    "order": 12,
                    "type": "link",
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                    "text": "Officer guidance on best value.",
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            "id": "p63.11",
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            "text": "Robust evidence is gathered to support the evaluation of each theme, including evidence from assurance providers where available. Findings from the self-evaluation are reported to the Audit and Risk Committee and the Board."
        },
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            "text": "During 2025-26, two thematic deep dives were undertaken on the best value themes of Sustainability and Use of Resources, with a range of actions for further development and improvement now being progressed. These recent best value reviews build on prior work in 2024-25 on the three best value themes of Vision and Leadership, Governance and Accountability and Fairness and Equality."
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Page 64

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            "text": "The Scottish Government’s ‘National Strategy for Economic Transformation’ and supporting strategies, along with the opportunities and challenges in Scotland’s economy, are key drivers of Scottish Enterprise’s operations. In developing Scottish Enterprise strategies and the Scottish Enterprise Operating Plan, there is a clear framework in which Scottish Enterprise Board members and the Executive Leadership Team take a leading role.",
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            "text": "Scottish Enterprise always seeks to ensure that our financial and people resources are being deployed to maximise the benefits to the Scottish economy. Underpinning that objective is Scottish Enterprise's programme and project management frameworks which incorporate a strong, constructive, independent challenge to increase the quality of the projects and programmes which Scottish Enterprise delivers and to ensure that they are driven by our priorities. The frameworks provide a best practice mechanism for the appraisal, approval and implementation of programmes and projects which provides assurance that Scottish Enterprise's resources are being used effectively and efficiently."
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            "id": "p64.9",
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            "text": "The Scottish Enterprise Corporate Plan sets out Scottish Enterprise's priority outcomes, behind which sits a fuller performance framework that is used to track and monitor not only what we deliver, but how we deliver it. Analysis and insights from the performance framework allows Scottish Enterprise to better understand what works, and what has the greatest impact on Scotland's economy."
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            "text": "Budgets are approved on an annual basis as part of the Business Planning process and are allocated to business areas to ensure clear accountability for the delivery of the budget. The Executive Leadership Team and the Board receive regular reports on expenditure and income against budget together with a summary of the movement in the full-year income and expenditure forecasts. This also includes proposed corrective action where necessary to ensure our financial objectives are met."
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            "bbox": {
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            "text": "People are at the heart of Scottish Enterprise. The Colleague Journey, available on the Scottish Enterprise intranet, clearly sets out colleagues' responsibilities and our expectations in relation to behaviours, conduct and values. It is reviewed and updated as required to ensure ongoing legal compliance and alignment with best practice."
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            "text": "We actively listen to colleagues through engagement surveys, discussion groups, the work of My Community groups and regular check-in conversations, using this insight to shape a positive, inclusive and engaging workplace. We also work in close partnership with our recognised trade unions to support effective engagement and meaningful dialogue."
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            "text": "Speak Up (Whistleblowing) Arrangements",
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            "text": "Scottish Enterprise encourages colleagues to speak up about any concerns of wrongdoing. Our arrangements, which include a Speak Up (Whistleblowing) Policy and regular reporting, have been developed with reference to good practice and are formally considered by the Audit and Risk Committee on an annual basis."
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            "text": "Digital, Data and IT Services",
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            "text": "The Digital, Data and IT (DDIT) directorate is responsible for enabling the delivery of Scottish Enterprise's Digital, Data and AI Strategy (2025 - 2028). The strategy is focused on the three key pillars of being Data Driven, Customer Centric, and Enabling Colleagues. Much of this work is delivered in partnership with business teams, for example the Enterprise Resource Planning system replacement is aligned with the Financial and People strategies, and the Customer Engagement Platform is delivered in collaboration with the Customer Engagement Strategy team."
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            "text": "DDIT delivers this in partnership with Enterprise Information Services (EIS), a shared service which provides IT services to Scottish Enterprise, Skills Development Scotland, Highlands and Islands Enterprise and South of Scotland Enterprise. EIS provide network, end-user computer, mobile, partnership wide security systems, service desk functionality, hosting and cloud services. Cyber security responsibilities are shared between Scottish Enterprise and EIS, and we continue to hold Cyber Essentials Plus certification. Disaster recovery, business continuity, and cyber security readiness tests are regularly carried out."
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            "id": "p66.5",
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            "bbox": {
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            "text": "The Data Protection and Information Governance Officer for Scottish Enterprise has overall responsibility for monitoring and ensuring organisational compliance with Data Protection legislation and wider organisational Information Governance. Policies and guidance are in place to ensure that Scottish Enterprise meets its legislative and procedural obligations and all colleagues are required to undertake annual data protection training."
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            "text": "Statutory compliance includes reporting reportable data protection breaches to the Information Commissioner's Office and other Supervisory Authorities where relevant. During 2025-26 Scottish Enterprise had no reportable data breaches (2024-25: one). All internally reported incidents (for example misdirected emails) are assessed and actions are taken where necessary to minimise impact and recurrence."
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            "text": "Scottish Enterprise manages its operational offices in accordance with the Scottish Government's Asset Management Policy and the Single Scottish Estate Programme. The Scottish Enterprise property portfolio includes our current operational premises. Our strategy is to ensure assets are utilised in the most efficient and effective manner possible. Scottish Enterprise works closely with the Scottish Government and the Smarter Workplaces team at Scottish Futures Trust to achieve this aim. Our accommodation strategy seeks to right-size the number and capacity of our offices to reflect their current and anticipated future use. We work with partners to ensure that we maximise the potential for co-location with other public bodies and other organisations that share SE's strategic objectives."
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            "text": "Scottish Enterprise's Risk Management Policy was updated during 2024/25 and sets out a clear and consistent approach to risk management, including risk appetite, specific roles and responsibilities and the key steps in the risk management process. The Policy is aligned with the risk management requirements of the Scottish Public Finance Manual, the UK Government's Orange Book and best practice. The operation of the policy is reviewed by the Audit and Risk Committee to ensure it continues to support the effective and efficient operation of the organisation, helping to respond to business risks and to implement adequate controls. In accordance with the Risk Management Policy, the Board determines the level of risk we are willing to accept in the pursuit of our objectives and obtains assurance from management that risks are being managed accordingly within our appetite."
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            "text": "Scottish Enterprise's priority is economic transformation. Our focus on developing Scotland's economy and addressing market failure means that risk is inherent in all that we do. For us to be successful and achieve our bold, transformative ambitions that will have a lasting impact, we will empower our people to seek and embrace risk. This will help us focus our resources on exploiting the best opportunities for Scotland's economy."
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            "text": "However, it is often not possible to remove all uncertainty nor is it possible to manage all risks at any point in time to the most desirable level. Significant global economic challenges have increased levels of complexity and disruption. We therefore recognise that we must take informed, responsible and balanced risks while working within prescribed parameters within our operational environment."
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            "text": "Our risk appetite has been defined following consideration of our organisational risks and issues. Appetite levels vary: in some areas our risk tolerance is more cautious whereas in others, we are open or hungry for risk and are willing to seek risk in a responsible manner in the pursuit of our important objectives. We will always aim to operate our organisational activities at the levels defined in the appetite statements for individual risk categories. Where activities are projected to exceed the defined risk appetite levels, this will be highlighted through appropriate governance and risk mechanisms."
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            "text": "We have established individual risk appetite statements and levels have been agreed for ten risk categories that represent the principal sources of risk to Scottish Enterprise. These are:"
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Page 68

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            "text": "During 2025-26, a corporate risk ‘dashboard’ was presented at each meeting of the Scottish Enterprise Board to highlight the principal risks within our Corporate Risk Register and any changes in risk exposure. The Corporate Risk Register is maintained to identify, record and support the management of those risks that impact the organisation as a whole and are likely to affect the achievement of our strategic goals and objectives. The Corporate Risk Register is reviewed regularly by the Executive Leadership Team, including consideration of progress against agreed mitigating actions."
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            "text": "In addition to guidance provided to all colleagues directly involved in risk management activity, risk awareness guidance for all colleagues has been shared across the organisation to support a consistent approach. Everyone across Scottish Enterprise has a responsibility to support the identification, management and escalation of risk. Management teams and programme/project teams are responsible for maintaining effective systems of risk management and internal control within their areas of responsibility, consistent with the Risk Management Policy, and for escalating risks where appropriate. These arrangements are designed to support the delivery of organisational priorities and objectives in an efficient and effective manner in accordance with Scottish Enterprise's risk appetite, values and policies."
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            "text": "Ownership is assigned for each identified risk at a corporate, management team and programme/project levels. Risk owners are responsible for co-ordinating the response to the risk and for meeting any associated reporting requirements. The potential impacts of risks are routinely documented within papers that are submitted to the Board and Executive Leadership Team."
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            "text": "Scottish Enterprise's Audit and Risk Committee reviews the Corporate Risk Register regularly on behalf of the Board. The Audit and Risk Committee has focused particular attention on the risks that are out with our agreed risk appetite, together with the adequacy of the plans for the mitigation."
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            "text": "During 2025-26, Scottish Enterprise has continued to operate within a highly dynamic and evolving environment. The external drivers of several of our corporate risks present considerable challenges in the extent to which we can directly manage or influence these risks effectively and within our agreed risk appetite."
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Page 69

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            "text": "Increasing fixed cost pressures and budgets that are not increasing in line with inflation, alongside current budgetary rules and arrangements (including annualised settlements and constraints on multi-year flexibility), are creating significant uncertainty over the level and timing of future funding."
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            "text": "Within the context of increasingly sophisticated and frequent cyber-attacks on organisations, there is a risk that Scottish Enterprise is subject to a successful attack. In addition, there is also a risk of sustained disruption to our systems/networks/services due to third party actions, negligence/misconduct and/or broader events in the tech ecosystem and supply chain."
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                    "text": "Significant and prolonged disruption to SE's operations and services.",
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                    "text": "Inability to access/operate key systems/networks that support our business operations, including EIS."
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                    "text": "Reputational damage and erosion of stakeholder trust.",
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            "text": "This risk has been a principal risk for Scottish Enterprise throughout 2025-26. The external cyber threat landscape remains active and reinforced the need for continuous improvement in our cyber resilience."
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Page 74

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            "text": "The number, significance, complexity, uncertainty, and volatility of legal requirements facing Scottish Enterprise are relatively high and expected to increase. This is attributable not only to the external legal environment but also strategy-driven changes in delivery mechanisms to maximize economic impacts."
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            "text": "Scottish Enterprise considers climate related risks as part of its overall risk management arrangements. Where identified, these are recorded within the relevant risk register(s) and are assessed and managed in line with the Risk Management Policy, including evaluation of their likelihood and potential impact."
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Page 75

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            "text": "In addition to the five principal risks outlined above, Scottish Enterprise also recognises a strategic, corporate risk around the slowing pace of the energy transition and our ability to catalyse net zero/energy transition opportunities as part of our Accelerating the Energy Transition mission while also successfully delivering our net zero targets. This risk is owned by a member of Scottish Enterprise's Executive Leadership Team, is monitored through the regular review of the Corporate Risk Register and is mitigated through actions including:"
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                    "text": "A short-life, cross-organisational working group undertook this detailed assessment and identified a range of climate-related risks and opportunities across various themes, including financial, people, property and health and safety and economic development."
                }
            ]
        },
        {
            "id": "p75.6",
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            "text": "This strengthened understanding of climate risks for Scottish Enterprise's operations will inform the development of a corporate adaptation plan during 2026-27. The plan will contribute to strengthening our resilience, reducing vulnerabilities and capitalising on opportunities arising from the current and anticipated impacts of climate change."
        },
        {
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            "text": "Role of Scottish Enterprise Audit and Risk Committee",
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        {
            "id": "p75.9",
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            "bbox": {
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            "text": "The Audit and Risk Committee supports the Board in fulfilling its responsibilities in relation to risk management, control, governance and associated assurance."
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            "text": "The Audit and Risk Committee seeks assurances from a range of sources, principally from management, internal audit and external audit. These sources of assurance provide insight into the effectiveness of risk management, governance and internal control arrangements, highlighting areas of strength and those requiring further attention or improvement."
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Page 76

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        {
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            "text": "The Audit and Risk Committee scrutinises and challenges the assurances that it receives and, based on this work, provides its opinion on their comprehensiveness, reliability and integrity through an annual report which is considered by the Board."
        },
        {
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            "text": "During 2025-26, the Audit and Risk Committee has received management assurances on SE's risk, governance and control arrangements through a programme of deep dives on our most significant corporate risks as well as from updates on fraud and whistleblowing arrangements, best value and equity valuations."
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            "text": "Scottish Enterprise's Accountable Officer is required to provide a Certificate of Assurance to the Scottish Government on an annual basis, in accordance with the Certificates of Assurance section of the Scottish Public Finance Manual. To enable the signing of this statement, the Accountable Officer requires assurances on the maintenance and review of internal control systems throughout the organisation.",
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                    "text": "Certificates of",
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            "text": "All Scottish Enterprise Executive Leadership Team members and directors of our major trading subsidiaries are required to sign a Certificate of Assurance for their areas of responsibility and accountability. To assist with this, they are required to evidence their internal control arrangements through the completion of an internal control checklist. This checklist covers aspects such as risk management, operational effectiveness, use of resources, compliance with applicable policies and procedures. To enhance assurances further in relation to information technology and related processes, EIS is also required to provide a Certificate of Assurance addressing these specific areas in relation to work undertaken for Scottish Enterprise."
        },
        {
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            "text": "The Certificate of Assurance for 2025-26 has now been completed and submitted to the Scottish Government in line with the established process. On the basis of the assurances received, the Accountable Officer confirmed that for the year ended 31 March 2026 and up to the authorised date of issue of the Annual Report and Accounts, no significant control weaknesses were identified and the governance arrangements and systems of internal control have been in place and have operated effectively."
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            "text": "As part of this process, Scottish Enterprise has highlighted to the Scottish Government the complexity of the current budget/funding environment. Throughout 2025-26, Scottish Enterprise has managed a risk relating to overall financial sustainability. This reflects that budget allocations have not increased in line with inflation and constraints from current budgetary rules and arrangements to create significant uncertainty around the amount and timing of future funding. Scottish Enterprise is reducing costs where possible and seeking new and additional sources of capital to create a sustainable model."
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Page 77

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        {
            "id": "p77.5",
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            "bbox": {
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            "text": "The Internal Audit Partnership provides independent assurance on the adequacy and effectiveness of Scottish Enterprise's framework of governance, risk management, and internal control. This Internal Audit opinion is based on internal audit activity conducted during the period, as well as being informed by meetings with senior management, observations at governance for a, and the Head of Audit's wider understanding of the control environment. Overall, sufficient assurance work has been carried out, in accordance with the Global Internal Audit Standards, to enable a reasonable conclusion to be formed on the adequacy and effectiveness of the internal control environment."
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            "text": "The Head of Audit is providing a ‘Moderate’ opinion on Scottish Enterprise for 2025-26. This opinion is based on reviews completed throughout the year, as well as consideration of other audit activity (for example, advisory work, real-time audits, and other assurance sources). Internal Audit reviewed areas aligned to strategic risk activity in the organisation as well as areas of core control, and the opinion reflects an overall assessment of these outputs."
        },
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            "text": "Sixteen reviews were completed in total, supplemented by five relating to our membership of the EIS shared IT service. Overall, the work did not highlight significant weaknesses material to SE's overall governance, risk management, and internal control environment."
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            "text": "Recommendations have been agreed with management across all reviews to mitigate identified risks, with a follow-up process in place to ensure that internal audit recommendations are fully implemented. The status of agreed actions, including the high priority recommendations, has also been considered in reaching this opinion."
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            "text": "In reaching the opinion, Internal Audit considered SE's organisational context and changing risk profile. The mission-based approach is now operating as business-as-usual and several of the reviews focused in detail on large projects to assess alignment with SE's strategic objectives and project delivery capability. With ongoing constraints on public sector finances, work by the organisation to maximise impact has been reflected in audits of the new People Strategy, the project prioritisation pipeline, and digital project management."
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            "text": "This will continue into 2026-27, where the Internal Audit Plan includes reviews of Ambition 28, workforce planning, and the recent Customer Engagement strategy."
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            "text": "Internal Audit's work in 2025-26 has also demonstrated the flexibility of the risk-based Internal Audit Plan to respond to in-year developments. Most notably, Internal Audit's real-time advisory work on SE's programme of intervention at Grangemouth and the review of human rights due diligence in the defence sector have allowed Internal Audit to give timely advice and insight to emerging risks."
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Page 78

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            "bbox": {
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            "text": "Following receipt of the highest available award level from the External Quality Assessment in 2024 conducted by the Institute of Internal Auditors, the Internal Audit team has continued to regularly self-assess and implement continuous improvement activities that enable a response to developments in the public sector internal audit landscape. Areas of focus continue to be increased use of data analytics and a more mature consideration of wider assurance sources in audit planning and delivery."
        },
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            "text": "Updated Global Internal Audit Standards came into effect in January 2025 with a framework for the application of the standards in the UK Public Sector effective from 1 April 2025. Additionally, the Institute of Internal Auditors has developed a series of Topical Requirements which must be considered during audit work. The first on cybersecurity is effective from February 2026, with upcoming requirements on the auditing of third parties and organisational behaviour effective later in 2026."
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            "text": "The overall opinion for 2025-26 has also considered the outputs of assurance reviews conducted by specialist third-party IT audit specialists. These reviews covered Data Governance, the EIS Cloud/Digital Strategy, Resilience and Disaster Recovery, and Third-Party Risk Management. The contract for Internal Audit's IT audit specialists has recently been renewed for three years following a competitive procurement exercise involving all affected partner organisations. Internal Audit will continue to work with EIS to strengthen how assurance is provided across the partnership."
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            "text": "The Internal Audit Partnership continues to provide Internal Audit services for Scottish Enterprise, Skills Development Scotland, the Scottish Funding Council, South of Scotland Enterprise and Clyde Gateway, with Scottish Enterprise taking the lead in delivering services across each organisation. In 2025-26, Internal Audit shared a paper with the Audit and Risk Committees of each partner organisation which included thematic insights from reviews of Risk Management conducted at four of the partner bodies. A similar paper on good practice from our 2025-26 reviews of Counter Fraud Arrangements will also be shared."
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            "text": "The Auditor General for Scotland is responsible for auditing the Scottish Enterprise consolidated accounts. Under the Public Finance and Accountability (Scotland) Act 2000, the Auditor General for Scotland has appointed Audit Scotland to undertake the statutory audit of Scottish Enterprise for a period of five years starting with the year to 31 March 2023."
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            "text": "During 2025-26, Audit Scotland reviewed Scottish Enterprise's control environment and concluded that there were no significant issues that required to be reported."
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            "text": "Scottish Enterprise subsidiary companies are subject to external audit by Thomson Cooper Limited."
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            "text": "This report explains the remuneration policy of Scottish Enterprise for Board Members and for the Executive Leadership Team and provides details of members' remuneration for the year ended 31 March 2026."
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            "text": "The members of the Board are appointed by the Scottish Ministers from a variety of backgrounds based on their knowledge and experience gained in both the public and private sectors in industry, commerce and academic fields. Board members are paid a basic fee, and their total remuneration is set after consideration of additional responsibility arising from holding the position of chair on the board committees. Board members are eligible to receive a travel allowance to attend meetings, which is taxable. Remuneration is set by the Scottish Government and is reviewed annually and may be amended if the level of responsibility and time commitment changes during the year."
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            "text": "(the information from this section to the end of ‘Exit Packages and Settlement Agreements’ section on page 88 has been subject to audit)."
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Page 80

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            "text": "i) In the interest of increased transparency, all amounts noted above have been disclosed as actual amounts rather than in bandings of £5,000 as required by the Financial Reporting Manual (FReM). Non-executive directors are paid salaries and allowances only and do not receive performance-related pay, benefits in kind or pension benefits."
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Page 83

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r0c1 (13%): “Accrued Pension at normal retirement date as at 31 March 20…”
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                    "text": "At 31 March 2026",
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                    "id": "p83.5.9",
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                    "text": "At 31 March 2025",
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                    "text": "Increase in transfer value during year (net of members' contributions)",
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                    "text": "Adrian Gillespie",
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                    "text": "35 – 40, plus lump sum of 105 - 110",
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                        "colspan": 2,
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                        "l": 312.94,
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                    "text": "2.5 – 5.0 real increase",
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                    "text": "668",
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                        "colspan": 1,
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                },
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                    "text": "579",
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                    "text": "28",
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                    "text": "Jane Martin",
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                        "l": 312.94,
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                    "text": "2.5 – 5.0 real increase",
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                    "text": "785",
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                        "colspan": 1,
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                },
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                        "l": 449.76,
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                    "text": "669",
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                },
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                {
                    "id": "p83.5.24",
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                    "bbox": {
                        "l": 530.16,
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                    "text": "106",
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                        "colspan": 1,
                        "bbox_refit": true
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                },
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                    "text": "Rhona Allison",
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                    "text": "35 – 40, plus lump sum of 115 - 120",
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                        "colspan": 2,
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                        "l": 312.94,
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                    "text": "2.5 – 5.0 real increase",
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                        "rowspan": 1,
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                        "l": 408.42,
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                    "text": "725",
                    "attrs": {
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                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
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                },
                {
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                    "text": "595",
                    "attrs": {
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                        "rowspan": 1,
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                },
                {
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                        "colspan": 1
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                },
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                    "text": "121",
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                        "rowspan": 1,
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                },
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                    "text": "Reuben Aitken",
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                    "text": "5 – 10, plus lump sum of 15 - 20",
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                        "colspan": 2,
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                },
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                        "l": 322.3,
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                    "text": "0 – 2.5 real increase",
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                {
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                        "l": 415.02,
                        "t": 372.25999999999993,
                        "r": 428.22,
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                    "text": "33",
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                        "rowspan": 1,
                        "colspan": 1,
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                    "text": "20",
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                },
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                        "colspan": 1
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                {
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                    "text": "4",
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                        "col": 6,
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                    "text": "Gill McNeill",
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                {
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    "excluded_furniture": {
        "first": [],
        "last": []
    }
}

Page 84

33 item(s) JSON
header (3) heading (1) table (1) table_cell (24) text (4)
Page 84
1 · HEADER
2 · HEADER
3 · HEADER
4 · HEADING
5 · TEXT
6 · TABLE
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31 · TEXT
32 · TEXT
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Table integrity: 3 of 22 cells don't match the text layer at their coordinates.
r1c1 (0%): “25th percentile”
r1c3 (50%): “75th percentile”
r1c4 (50%): “25th percentile”
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            "text": "Accountability Report",
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            "text": "Fair Pay Disclosure",
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            "text": "The relationship between the remuneration of the highest paid member of the Executive Leadership Team and the employee on the 25th percentile, median and 75th percentile of pay and benefits of the employees of Scottish Enterprise for the financial year are as follows:"
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                            "text": "75th percentile"
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                        {
                            "row": 1,
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                    "text": "75th percentile",
                    "attrs": {
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                {
                    "id": "p84.6.11",
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                    "text": "Annualised remuneration before pension benefits of the employee on the respective percentile of pay and benefits of the entity's employees for the financial year",
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                    "text": "50,750",
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                    "bbox": {
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                    "text": "58,755",
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                    "bbox": {
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                    "text": "64,322",
                    "attrs": {
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                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
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                },
                {
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                    "order": 21,
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                    "bbox": {
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                        "r": 441.36,
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                    "text": "48,798",
                    "attrs": {
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                    "order": 22,
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                    "bbox": {
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                    "text": "56,495",
                    "attrs": {
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                        "rowspan": 1,
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                {
                    "id": "p84.6.17",
                    "order": 23,
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                    "text": "61,848",
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                {
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                    "text": "Remuneration ratio",
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                    "text": "3.9",
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                    "text": "3.4",
                    "attrs": {
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                    "text": "3.1",
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            "text": "The remuneration ratio of SE’s employees is based on the annualised full time equivalent salary (including any applicable allowances) of employees as at 31 March 2026. All ratios are the same as the prior year."
        },
        {
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            "order": 32,
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            "text": "The percentage change from the previous financial year for the highest paid director (CEO) was 4% (2024/25: 3%). This uplift was for the 2025/26 pay award."
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            "text": "The average percentage change from the previous financial year for employees of SE as a whole was 5.9% (2024/25: 4.3%). The average change reflects more than the annual pay award as it includes all pay increases, for example: annual pay award (4% cost of living award in 2025/26), promotional increases (which may be one or more grades higher), temporary promotions or grade adjustments. Over the last year we've had significantly more internal promotions than new starts. Promotional pay increases are set within our pay guidelines and typically involve a move to the minimum of the promoted grade's salary band which may raise the average % change."
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Page 85

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            "text": "Our annual pay award must meet the requirements of Scottish Government's public sector pay policy which sets the overarching principles for pay for public bodies. SE, in line with many other public sector partners including Scottish Government, used the flexibility pay policy offered for a multi-year deal with year one in 2025/26."
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            "text": "The median remuneration ratio trend over the last five years has been initially downwards following a small rise in 2021/22 when a new CEO was appointed and since then, largely static. The ratio was 3.631 in 2021/22 and is 3.401 in 2025/26, which is unchanged from the prior year."
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            "text": "As well as employees, the data set also includes a small number of contractors and agency staff. Compared to last year, there are fewer contractors and agency staff. These salaries are typically higher than employee salaries."
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            "text": "We believe the pay ratio information is reflective overall of our pay, rewards and progression policy for employees. As noted above, the data set includes salaries which are not on our pay structure but further checks on the data do not indicate any impact."
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            "text": "The full-time equivalent remuneration paid to SE staff in 2025/26, including contractors and agency staff, ranged from £27,118 - £199,840 (2024/25: £26,075 - £192,154)."
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Page 86

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            "text": "The costs of Non-executive board members, including the Chair, comprise:"
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                    "id": "p86.7.2",
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                    "text": "2026",
                    "attrs": {
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                        "rowspan": 1,
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                        "column_header": true,
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                    "id": "p86.7.3",
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                    "bbox": {
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                    "text": "2025",
                    "attrs": {
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                    "id": "p86.7.4",
                    "order": 11,
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                    "bbox": {
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                    "text": "",
                    "attrs": {
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                },
                {
                    "id": "p86.7.5",
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                    "text": "£",
                    "attrs": {
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                        "rowspan": 1,
                        "colspan": 1
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                },
                {
                    "id": "p86.7.6",
                    "order": 13,
                    "type": "table_cell",
                    "bbox": {
                        "l": 382.003,
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                    "text": "£",
                    "attrs": {
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                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
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                },
                {
                    "id": "p86.7.7",
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                    "type": "table_cell",
                    "bbox": {
                        "l": 46.8,
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                    },
                    "text": "Remuneration (i) (ii)\nSocial security costs\nPension costs (iii)\nTotal non-executive board members",
                    "attrs": {
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                        "col": 0,
                        "rowspan": 1,
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                        "merged_continuation": true
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                },
                {
                    "id": "p86.7.8",
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                    "bbox": {
                        "l": 369.52,
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                    },
                    "text": "173,617\n19,170\n9,734\n202,521",
                    "attrs": {
                        "row": 2,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
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                },
                {
                    "id": "p86.7.9",
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                    "type": "table_cell",
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                    },
                    "text": "187,743\n12,787\n9,609\n210,139",
                    "attrs": {
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                        "colspan": 1,
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            ]
        },
        {
            "id": "p86.8",
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            "type": "list",
            "bbox": {
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                "r": 530.0532,
                "b": 370.08
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            "text": "",
            "attrs": {
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            "children": [
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                    "id": "p86.8.1",
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                    "text": "Remuneration paid to non-executive board members is also detailed in the Remuneration Report above.",
                    "marker": "i)"
                },
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                    "id": "p86.8.2",
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                    "text": "Scottish Enterprise's Chief Executive, Adrian Gillespie, was also a member of the Board. The Chief Executive's remuneration is not included above but details are provided in the Remuneration Report.",
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                },
                {
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                    "text": "Scottish Enterprise is required to meet the retirement benefits due to past Chairmen of Scottish Development Agency and Scottish Enterprise who are not members of the Scottish Enterprise Pension & Life Assurance Scheme. £28,400 (2025: £29,400) is included for these costs within the total retirement benefit liabilities at 31 March 2026, as assessed by Isio, Scottish Enterprise's advising actuaries.",
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                }
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            "text": "Staff costs comprise:",
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        },
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                    "cells_flagged": 0
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                    "text": "Others\n£000",
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                    "text": "2025\n£000",
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                    "text": "Wages and salaries",
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                    "text": "14,802",
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                },
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                    "text": "14,802",
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                },
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                    "text": "18,777",
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                    "text": "70",
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                },
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                    },
                    "text": "Total staff costs before recoveries (i)",
                    "attrs": {
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                },
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                    "text": "84,693",
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                },
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                    "text": "95,237",
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                },
                {
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                    "text": "94,767",
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                },
                {
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                    "bbox": {
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                    },
                    "text": "Less: recoveries in respect of outward secondments",
                    "attrs": {
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                },
                {
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Page 87

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Page 87
1 · HEADER
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                        "b": 524.404
                    },
                    "text": "150\n983",
                    "attrs": {
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                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p87.6.33",
                    "order": 39,
                    "type": "table_cell",
                    "bbox": {
                        "l": 518.46,
                        "t": 557.3199999999999,
                        "r": 548.676,
                        "b": 524.404
                    },
                    "text": "154\n1,020",
                    "attrs": {
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                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
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                },
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                    "id": "p87.6.34",
                    "order": 40,
                    "type": "table_cell",
                    "bbox": {
                        "l": 46.8,
                        "t": 519.64,
                        "r": 87.48,
                        "b": 505.56399999999996
                    },
                    "text": "Others:",
                    "attrs": {
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                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p87.6.35",
                    "order": 41,
                    "type": "table_cell",
                    "bbox": {
                        "l": 143.6351,
                        "t": 515.28,
                        "r": 245.9984,
                        "b": 493.92
                    },
                    "text": "",
                    "attrs": {
                        "row": 7,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p87.6.36",
                    "order": 42,
                    "type": "table_cell",
                    "bbox": {
                        "l": 245.9984,
                        "t": 515.28,
                        "r": 348.3618,
                        "b": 493.92
                    },
                    "text": "",
                    "attrs": {
                        "row": 7,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p87.6.37",
                    "order": 43,
                    "type": "table_cell",
                    "bbox": {
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                    },
                    "text": "",
                    "attrs": {
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                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1
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                },
                {
                    "id": "p87.6.38",
                    "order": 44,
                    "type": "table_cell",
                    "bbox": {
                        "l": 450.7251,
                        "t": 515.28,
                        "r": 553.0885,
                        "b": 493.92
                    },
                    "text": "",
                    "attrs": {
                        "row": 7,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p87.6.39",
                    "order": 45,
                    "type": "table_cell",
                    "bbox": {
                        "l": 46.8,
                        "t": 500.85999999999996,
                        "r": 262.548,
                        "b": 453.84399999999994
                    },
                    "text": "Inward Secondments and temporary staff (i)\nTotal (ii)",
                    "attrs": {
                        "row": 8,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p87.6.40",
                    "order": 46,
                    "type": "table_cell",
                    "bbox": {
                        "l": 302.08,
                        "t": 493.78,
                        "r": 332.091999,
                        "b": 453.84399999999994
                    },
                    "text": "118\n1,283",
                    "attrs": {
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                        "merged_continuation": true
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                },
                {
                    "id": "p87.6.41",
                    "order": 47,
                    "type": "table_cell",
                    "bbox": {
                        "l": 361.78,
                        "t": 493.78,
                        "r": 392.284,
                        "b": 453.84399999999994
                    },
                    "text": "104\n1,384",
                    "attrs": {
                        "row": 8,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p87.6.42",
                    "order": 48,
                    "type": "table_cell",
                    "bbox": {
                        "l": 444.12,
                        "t": 493.78,
                        "r": 470.111999,
                        "b": 453.84399999999994
                    },
                    "text": "118\n1,101",
                    "attrs": {
                        "row": 8,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p87.6.43",
                    "order": 49,
                    "type": "table_cell",
                    "bbox": {
                        "l": 519.3,
                        "t": 493.78,
                        "r": 547.308,
                        "b": 453.84399999999994
                    },
                    "text": "104\n1,124",
                    "attrs": {
                        "row": 8,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                }
            ]
        },
        {
            "id": "p87.7",
            "order": 50,
            "type": "list",
            "bbox": {
                "l": 56.1487,
                "t": 429.6,
                "r": 552.3687,
                "b": 342.96
            },
            "text": "",
            "attrs": {
                "item_count": 2
            },
            "children": [
                {
                    "id": "p87.7.1",
                    "order": 51,
                    "type": "list_item",
                    "bbox": {
                        "l": 56.1487,
                        "t": 429.6,
                        "r": 552.3687,
                        "b": 388.08
                    },
                    "text": "The number of inward secondments and temporary staff includes people in the overseas offices employed by the Foreign and Commonwealth Office but engaged on Scottish Enterprise business.",
                    "marker": "i)"
                },
                {
                    "id": "p87.7.2",
                    "order": 52,
                    "type": "list_item",
                    "bbox": {
                        "l": 56.1487,
                        "t": 386.88,
                        "r": 549.9691,
                        "b": 342.96
                    },
                    "text": "The group total of 1,283 includes 182 FTE staff employed at Scottish Enterprise subsidiaries. 173 members of staff are employed by Glasgow Science Centre and 9 members of staff are employed by Scotland Europa.",
                    "marker": "ii)"
                }
            ]
        },
        {
            "id": "p87.8",
            "order": 53,
            "type": "heading",
            "bbox": {
                "l": 39.592,
                "t": 323.76,
                "r": 425.1943,
                "b": 304.08
            },
            "text": "Exit Payments and Settlement Agreements",
            "attrs": {
                "block_label": "paragraph_title"
            },
            "level": 3
        },
        {
            "id": "p87.9",
            "order": 54,
            "type": "text",
            "bbox": {
                "l": 39.1121,
                "t": 294,
                "r": 541.5708,
                "b": 228.24
            },
            "text": "There were 44 staff who left Scottish Enterprise under voluntary severance in the year to 31 March 2026 (2025: 0) at a total resource cost of £2,697,940 (2025: £nil). There were 16 (2025: 3) staff who left subsidiary companies who received exit payments at a cost of £324,820 (2025: £70,022)."
        },
        {
            "id": "p87.10",
            "order": 55,
            "type": "table",
            "bbox": {
                "l": 41.7516,
                "t": 216.24,
                "r": 552.6086,
                "b": 89.52
            },
            "text": "",
            "attrs": {
                "block_label": "table",
                "n_rows": 6,
                "n_cols": 5,
                "integrity": {
                    "cells_checked": 22,
                    "cells_flagged": 4,
                    "flags": [
                        {
                            "row": 0,
                            "col": 0,
                            "coverage": 0.33,
                            "text": "Exit PackageCost Band"
                        },
                        {
                            "row": 0,
                            "col": 1,
                            "coverage": 0,
                            "text": "CompulsoryRedundancies"
                        },
                        {
                            "row": 0,
                            "col": 2,
                            "coverage": 0,
                            "text": "OtherDepartures Agreed"
                        },
                        {
                            "row": 0,
                            "col": 4,
                            "coverage": 0,
                            "text": "Total2025 No."
                        }
                    ]
                }
            },
            "children": [
                {
                    "id": "p87.10.1",
                    "order": 56,
                    "type": "table_cell",
                    "bbox": {
                        "l": 41.7516,
                        "t": 216.24,
                        "r": 143.923,
                        "b": 195.12
                    },
                    "text": "Exit PackageCost Band",
                    "attrs": {
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                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "column_header": true,
                        "header_source": "heuristic"
                    }
                },
                {
                    "id": "p87.10.2",
                    "order": 57,
                    "type": "table_cell",
                    "bbox": {
                        "l": 143.923,
                        "t": 216.24,
                        "r": 246.0944,
                        "b": 195.12
                    },
                    "text": "CompulsoryRedundancies",
                    "attrs": {
                        "row": 0,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "column_header": true,
                        "header_source": "heuristic"
                    }
                },
                {
                    "id": "p87.10.3",
                    "order": 58,
                    "type": "table_cell",
                    "bbox": {
                        "l": 246.0944,
                        "t": 216.24,
                        "r": 348.2658,
                        "b": 195.12
                    },
                    "text": "OtherDepartures Agreed",
                    "attrs": {
                        "row": 0,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
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                        "header_source": "heuristic"
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                },
                {
                    "id": "p87.10.4",
                    "order": 59,
                    "type": "table_cell",
                    "bbox": {
                        "l": 432.6,
                        "t": 211.81999999999994,
                        "r": 484.872,
                        "b": 183.70399999999995
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                    "text": "Total 2026 No.",
                    "attrs": {
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                },
                {
                    "id": "p87.10.5",
                    "order": 60,
                    "type": "table_cell",
                    "bbox": {
                        "l": 450.4372,
                        "t": 216.24,
                        "r": 552.6086,
                        "b": 195.12
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                    "text": "Total2025 No.",
                    "attrs": {
                        "row": 0,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1,
                        "column_header": true,
                        "header_source": "heuristic"
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                },
                {
                    "id": "p87.10.6",
                    "order": 61,
                    "type": "table_cell",
                    "bbox": {
                        "l": 57.828,
                        "t": 179.41999999999996,
                        "r": 100.992,
                        "b": 165.34399999999994
                    },
                    "text": "< £10,000",
                    "attrs": {
                        "row": 1,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p87.10.7",
                    "order": 62,
                    "type": "table_cell",
                    "bbox": {
                        "l": 143.923,
                        "t": 195.12,
                        "r": 246.0944,
                        "b": 174
                    },
                    "text": "-",
                    "attrs": {
                        "row": 1,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p87.10.8",
                    "order": 63,
                    "type": "table_cell",
                    "bbox": {
                        "l": 246.0944,
                        "t": 195.12,
                        "r": 348.2658,
                        "b": 174
                    },
                    "text": "-",
                    "attrs": {
                        "row": 1,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p87.10.9",
                    "order": 64,
                    "type": "table_cell",
                    "bbox": {
                        "l": 348.2658,
                        "t": 195.12,
                        "r": 450.4372,
                        "b": 174
                    },
                    "text": "-",
                    "attrs": {
                        "row": 1,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p87.10.10",
                    "order": 65,
                    "type": "table_cell",
                    "bbox": {
                        "l": 541.98,
                        "t": 179.41999999999996,
                        "r": 548.7,
                        "b": 165.34399999999994
                    },
                    "text": "2",
                    "attrs": {
                        "row": 1,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p87.10.11",
                    "order": 66,
                    "type": "table_cell",
                    "bbox": {
                        "l": 46.8,
                        "t": 161.12,
                        "r": 145.184,
                        "b": 147.04399999999998
                    },
                    "text": "£10,001 - £25,000",
                    "attrs": {
                        "row": 2,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p87.10.12",
                    "order": 67,
                    "type": "table_cell",
                    "bbox": {
                        "l": 286.18,
                        "t": 161.12,
                        "r": 293.296,
                        "b": 147.04399999999998
                    },
                    "text": "9",
                    "attrs": {
                        "row": 2,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p87.10.13",
                    "order": 68,
                    "type": "table_cell",
                    "bbox": {
                        "l": 414.36,
                        "t": 161.12,
                        "r": 421.08,
                        "b": 147.04399999999998
                    },
                    "text": "2",
                    "attrs": {
                        "row": 2,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p87.10.14",
                    "order": 69,
                    "type": "table_cell",
                    "bbox": {
                        "l": 476.34,
                        "t": 161.12,
                        "r": 484.86,
                        "b": 147.04399999999998
                    },
                    "text": "11",
                    "attrs": {
                        "row": 2,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p87.10.15",
                    "order": 70,
                    "type": "table_cell",
                    "bbox": {
                        "l": 450.4372,
                        "t": 174,
                        "r": 552.6086,
                        "b": 152.88
                    },
                    "text": "-",
                    "attrs": {
                        "row": 2,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p87.10.16",
                    "order": 71,
                    "type": "table_cell",
                    "bbox": {
                        "l": 46.8,
                        "t": 142.74,
                        "r": 147.644,
                        "b": 128.664
                    },
                    "text": "£25,001 - £50,000",
                    "attrs": {
                        "row": 3,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p87.10.17",
                    "order": 72,
                    "type": "table_cell",
                    "bbox": {
                        "l": 286.36,
                        "t": 142.74,
                        "r": 293.296,
                        "b": 128.664
                    },
                    "text": "6",
                    "attrs": {
                        "row": 3,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p87.10.18",
                    "order": 73,
                    "type": "table_cell",
                    "bbox": {
                        "l": 409.86,
                        "t": 142.74,
                        "r": 421.104,
                        "b": 128.664
                    },
                    "text": "14",
                    "attrs": {
                        "row": 3,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p87.10.19",
                    "order": 74,
                    "type": "table_cell",
                    "bbox": {
                        "l": 470.88,
                        "t": 142.74,
                        "r": 484.884,
                        "b": 128.664
                    },
                    "text": "20",
                    "attrs": {
                        "row": 3,
                        "col": 3,
                        "rowspan": 1,
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                        "bbox_refit": true
                    }
                },
                {
                    "id": "p87.10.20",
                    "order": 75,
                    "type": "table_cell",
                    "bbox": {
                        "l": 450.4372,
                        "t": 152.88,
                        "r": 552.6086,
                        "b": 131.76
                    },
                    "text": "-",
                    "attrs": {
                        "row": 3,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p87.10.21",
                    "order": 76,
                    "type": "table_cell",
                    "bbox": {
                        "l": 46.8,
                        "t": 124.43999999999994,
                        "r": 153.032,
                        "b": 110.36399999999992
                    },
                    "text": "£50,001 - £100,000",
                    "attrs": {
                        "row": 4,
                        "col": 0,
                        "rowspan": 1,
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                        "bbox_refit": true
                    }
                },
                {
                    "id": "p87.10.22",
                    "order": 77,
                    "type": "table_cell",
                    "bbox": {
                        "l": 143.923,
                        "t": 131.76,
                        "r": 246.0944,
                        "b": 110.64
                    },
                    "text": "-",
                    "attrs": {
                        "row": 4,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p87.10.23",
                    "order": 78,
                    "type": "table_cell",
                    "bbox": {
                        "l": 407.28,
                        "t": 124.43999999999994,
                        "r": 421.092,
                        "b": 110.36399999999992
                    },
                    "text": "28",
                    "attrs": {
                        "row": 4,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p87.10.24",
                    "order": 79,
                    "type": "table_cell",
                    "bbox": {
                        "l": 471.06,
                        "t": 124.43999999999994,
                        "r": 484.872,
                        "b": 110.36399999999992
                    },
                    "text": "28",
                    "attrs": {
                        "row": 4,
                        "col": 3,
                        "rowspan": 1,
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                    }
                },
                {
                    "id": "p87.10.25",
                    "order": 80,
                    "type": "table_cell",
                    "bbox": {
                        "l": 480.6,
                        "t": 106.13999999999999,
                        "r": 484.86,
                        "b": 92.06399999999996
                    },
                    "text": "1",
                    "attrs": {
                        "row": 4,
                        "col": 4,
                        "rowspan": 1,
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                    }
                },
                {
                    "id": "p87.10.26",
                    "order": 81,
                    "type": "table_cell",
                    "bbox": {
                        "l": 46.8,
                        "t": 106.13999999999999,
                        "r": 159.752,
                        "b": 92.06399999999996
                    },
                    "text": "£150,001 - £200,000",
                    "attrs": {
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                        "rowspan": 1,
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                        "bbox_refit": true
                    }
                },
                {
                    "id": "p87.10.27",
                    "order": 82,
                    "type": "table_cell",
                    "bbox": {
                        "l": 143.923,
                        "t": 110.64,
                        "r": 246.0944,
                        "b": 89.52
                    },
                    "text": "-",
                    "attrs": {
                        "row": 5,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p87.10.28",
                    "order": 83,
                    "type": "table_cell",
                    "bbox": {
                        "l": 416.82,
                        "t": 106.13999999999999,
                        "r": 421.08,
                        "b": 92.06399999999996
                    },
                    "text": "1",
                    "attrs": {
                        "row": 5,
                        "col": 2,
                        "rowspan": 1,
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                    }
                },
                {
                    "id": "p87.10.29",
                    "order": 84,
                    "type": "table_cell",
                    "bbox": {
                        "l": 544.44,
                        "t": 124.43999999999994,
                        "r": 548.7,
                        "b": 110.36399999999992
                    },
                    "text": "1",
                    "attrs": {
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                },
                {
                    "id": "p87.10.30",
                    "order": 85,
                    "type": "table_cell",
                    "bbox": {
                        "l": 450.4372,
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                        "r": 552.6086,
                        "b": 89.52
                    },
                    "text": "-",
                    "attrs": {
                        "row": 5,
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                        "colspan": 1
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                }
            ]
        }
    ],
    "excluded_furniture": {
        "first": [],
        "last": []
    }
}

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73 · TEXT
74 · HEADING
75 · TEXT
Page 88 JSON
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            "text": "i) Adrian Gillespie, the Chief Executive Officer, is included as a member of the Executive Leadership Team in the table above. He is also a member of the Board."
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Page 89

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Page 90

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            "text": "Our colleague-led My Communities diversity networks remained active throughout the year, hosting awareness sessions, peer support forums and allyship initiatives. Open to all, these networks provided safe spaces to share experiences and contributed valuable insight to improve workplace inclusion. Alongside our equality champions, they helped embed ED&I in everyday activity and decision-making. We delivered a reciprocal mentoring programme that paired leaders with members of our Communities, strengthening understanding and inclusion across the organisation."
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            "text": "We continued to support the Young Person's Guarantee and helped prepare young people for the world of work. In 2025/26, we welcomed a new cohort of Foundation Apprentices, offered undergraduate internships in summer 2025, and continued to support our graduate programme. We also backed external youth initiatives, including Glasgow's Legacy leadership programme, alongside our internal Young Leaders network."
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            "text": "As part of our focus on sustainability as an organisation, this year we have rigorously applied an internal-first resourcing approach to continue to manage the size of our workforce. Where external recruitment was required, our processes remained fair, open and inclusive and we expanded our reach to diverse candidate pools by advertising vacancies on platforms, including CEMVO's Equal Jobs site, and by working with organisations such as The DataKirk and Black Professionals Scotland."
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Page 91

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            "text": "This year we launched Ambition28, our internal transformation programme, setting out an ambitious three-year journey of change. The programme is focused on building a future-fit, mission led organisation that is streamlined, digitally enabled and data driven. As we increased our impact through digital investment and services, we also undertook activity to reduce the size of our workforce with the introduction of a targeted voluntary exit programme focusing primarily on functional and managerial roles."
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            "text": "Ambition28 is Scottish Enterprise's transformation strategy to build a mission-led, data-driven, and sustainable organisation delivering greater economic impact for Scotland by 2028."
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            "text": "Wellbeing remained central to our colleague approach and 2025/26 saw a focus on wellbeing and inclusion campaigns marking World Mental Health Day, World Menopause Day, Volunteers Week, Carers Week, International Men's Day and International Women's Day."
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            "text": "Our health and safety training offer was refreshed and developed in-house to cover Travel Safety, Construction (Design and Management), and protestor response. Our Safety Management System remained aligned with the principles of the ISO 45001 health and safety standard with the formalised system being published and shared with colleagues."
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Page 92

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            "text": "Scottish Enterprise achieved our main financial objective for the year which is to ensure that the financial outturn for the year is within the budget allocated by the Scottish Ministers. Our net under spend against its allocated budget for the year to 31 March 2026 was £3.9m."
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Page 93

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                    "text": "Total Budget",
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                    "text": "The Fiscal Resource budget includes a non cash element in relation to expected credit losses (the estimated future cash shortfall from financial assets held at amortised cost, and financial assets that have been written off) and IFRS16 (budget reclassifications as a result of the implementation of the leasing accounting standard).",
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Page 94

16 item(s) JSON
figure (1) header (3) text (12)
Page 94
1 · HEADER
2 · HEADER
3 · HEADER
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6 · TEXT
7 · TEXT
8 · TEXT
9 · TEXT
10 · TEXT
11 · TEXT
12 · TEXT
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Page 94 JSON
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            "level": 2
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Page 95

38 item(s) JSON
header (3) heading (1) table (2) table_cell (29) text (3)
Page 95
1 · HEADER
2 · HEADER
3 · HEADER
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5 · TABLE
6
7
8
9
10 · HEADING
11 · TEXT
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13 · TABLE
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
Page 95 JSON
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                    "text": "£000",
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                    "text": "Net expenditure before taxation\nAttributable to non-controlling interests in subsidiaries\nDepreciation charge allocated to non-cash costs\nAsset revaluation adjustments charged to annually managed expenditure\nNet Investment impairments and fair value adjustments charged to annually managed expenditure\nNet pension costs attributed to annually managed expenditure\nProvision charged to annually managed expenditure\nScottish Government Grant income credited to reserves\nNet expenditure attributed to Energy Investment Fund\nNet expenditure attributed to the capital budget\nFiscal Resource Outturn",
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                    "text": "306,262\n42\n(8,065)\n3,651\n(92,527)\n36\n2,035\n(1,042)\n(2,467)\n(65,811)\n142,114",
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            "text": "Scottish Enterprise manages the Energy Investment Fund for the Scottish Government. We required £2.6m of new funding in the year, £0.6m of new Capital funding and £2m of new Financial Transactions funding to cover new investments resulting from capitalised interest during the year, less repayments of £0.1m as a result of returns from investments for which the original cost was met from Financial Transactions."
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Page 96

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caption (1) header (3) table (2) table_cell (23) text (1)
Page 96
1 · HEADER
2 · HEADER
3 · HEADER
4 · CAPTION
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12 · TEXT
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r1c1 (29%): “Ardroughan Limited t/a Aqualife Services, provided fish vac…”
r4c1 (56%): “Earthbound Games Limited, an independent game development s…”
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Page 97

24 item(s) JSON
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r3c1 (20%): “iMetaFilm Limited provided digitisation and archiving solut…”
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Page 98

27 item(s) JSON
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r2c1 (27%): “NexaBiome Limited was a biotechnology company focused on ad…”
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                    "text": "697",
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                    "text": "Skoog Holdings Limited",
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                    "text": "The Company was focused on the development of interactive musical devices for disabled children. With limited commercial progress and despite the efforts of all stakeholders, the business was unable to achieve sufficient revenue to enable it to continue and ceased trading.",
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                    "text": "Trojan Energy Limited",
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                    "text": "Scottish Enterprise first invested in Trojan Energy Ltd in 2020. The Company designed, built and operated Flat and Flush electric vehicle charge points, primarily for residents who park on the street. The company was unable to achieve the forecast levels of commercial progress and despite best efforts of all stakeholders in exploring all strategic options, the company entered into Administration in February 2026.",
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                    "text": "2,060",
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                    "text": "Ubiquigent Limited",
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                    "text": "Ubiquigent Ltd was a life science company, operating as a contract research organisation. The company was unable to raise further investment and initiated a voluntary strike-off process and was dissolved in January 2026.",
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                    "text": "Vericall Limited",
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                    "text": "Scottish Enterprise supported Vericall Limited through a RSA grant to establish a call centre in Kirkcaldy offering Directory Enquiry and customer support services. The grant was to be used on project assets and creation of jobs. Before the end of the grant monitoring period, Vericall Limited went in to liquidation with the liquidator confirming there was no prospect of a dividend to Scottish Enterprise.",
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            "text": "The Scottish Public Finance Manual requires gifts to be reported in notes to the accounts and individual gifts of more than £250,000 to be noted separately. Scottish Enterprise has nothing to report for the year ended 31 March 2026 in respect of gifts (2024/25: None)."
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            "text": "As required in the Fees and Charges guidance in the Scottish Public Finance Manual, Scottish Enterprise charges market rates whenever applicable."
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            "text": "Contingent liabilities that meet the disclosure requirements in IAS37 Provisions and Contingent Liabilities are included in Note 22 of the Notes to the Accounts. In addition, due to the complex nature of the business activities and extensive portfolio of assets of Scottish Enterprise, there are contingent liabilities for which IAS37 does not require disclosure because Scottish Enterprise considers the probability of any requirement to meet any future liabilities to be remote."
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            "text": "Adrian Gillespie\nAccountable Officer\n26 June 2026"
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            "text": "I have audited the financial statements in the annual report and accounts of Scottish Enterprise and its group for the year ended 31 March 2026 under the Enterprise and New Towns (Scotland) Act 1990. The financial statements comprise the Group Statement of Comprehensive Net Expenditure, Scottish Enterprise Statement of Comprehensive Net Expenditure, Group Statement of Financial Position, Scottish Enterprise Statement of Financial Position, Group Statement of Cash Flows, Scottish Enterprise Statement of Cash Flows, Group Statement of Changes in Taxpayers' Equity, Scottish Enterprise Statement of Changes in Taxpayers' Equity and notes to the financial statements, including material accounting policy information. The financial reporting framework that has been applied in their preparation is applicable law and UK adopted international accounting standards, as interpreted and adapted by the 2025/26 Government Financial Reporting Manual (the 2025/26 FReM)."
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                {
                    "id": "p101.8.1",
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                    "bbox": {
                        "l": 39.1121,
                        "t": 388.75999999999993,
                        "r": 535.812,
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                    "text": "Give a true and fair view of the state of the affairs of the body and its group as at 31 March 2026 and of its net expenditure for the year then ended;"
                },
                {
                    "id": "p101.8.2",
                    "order": 10,
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                    "bbox": {
                        "l": 39.592,
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                    "text": "Have been properly prepared in accordance with UK adopted international accounting standards, as interpreted and adapted by the 2025/26 FReM; and",
                    "marker": "-"
                },
                {
                    "id": "p101.8.3",
                    "order": 11,
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                    "bbox": {
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                    "text": "Have been prepared in accordance with the requirements of the Enterprise and New Towns (Scotland) Act 1990 and directions made thereunder by the Scottish Ministers.",
                    "marker": "-"
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            ]
        },
        {
            "id": "p101.9",
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            "type": "heading",
            "bbox": {
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            "text": "Basis for opinion",
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            "id": "p101.10",
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            "bbox": {
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            "text": "I conducted my audit in accordance with applicable law and International Standards on Auditing (UK) (ISAs (UK)), as required by the Code of Audit Practice approved by the Auditor General for Scotland. My responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of my report. I was appointed by the Auditor General on 3 April 2023. My period of appointment is five years, covering 2022/23 to 2026/27. Including a previous appointment, the period of total uninterrupted appointment will be six years. I am independent of the body and its group in accordance with the ethical requirements that are relevant to my audit of the financial statements in the UK including the Financial Reporting Council's Ethical Standard, and I have fulfilled my other ethical responsibilities in accordance with these requirements. Non-audit services prohibited by the Ethical Standard were not provided to the body.",
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                    "type": "link",
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                    "text": "Code of Audit Practice",
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Page 102

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            "text": "SCOTTISH ENTERPRISE ANNUAL REPORT AND ACCOUNTS 2026",
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            "id": "p102.4",
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            "text": "believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my opinion."
        },
        {
            "id": "p102.5",
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            "type": "heading",
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        {
            "id": "p102.6",
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            "text": "I have concluded that the use of the going concern basis of accounting in the preparation of the financial statements is appropriate."
        },
        {
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            "type": "text",
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            "text": "Based on the work I have performed, I have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the ability of the body and its group to continue to adopt the going concern basis of accounting for a period of at least twelve months from when the financial statements are authorised for issue."
        },
        {
            "id": "p102.8",
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            "text": "These conclusions are not intended to, nor do they, provide assurance on the current or future financial sustainability of the body and its group. However, I report on the body's arrangements for financial sustainability in a separate Annual Audit Report available from the Audit Scotland website."
        },
        {
            "id": "p102.9",
            "order": 9,
            "type": "link",
            "bbox": {
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            "text": "Audit Scotland website.",
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            "text": "Risks of material misstatement",
            "attrs": {
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            "level": 3
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            "id": "p102.11",
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            "bbox": {
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            "text": "I report in my Annual Audit Report the most significant assessed risks of material misstatement that I identified and my judgements thereon."
        },
        {
            "id": "p102.12",
            "order": 12,
            "type": "heading",
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            "text": "Responsibilities of the Accountable Officer\nfor the financial statements",
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            "text": "As explained more fully in the Statement of Accountable Officer's Responsibilities, the Accountable Officer is responsible for the preparation of financial statements that give a true and fair view in accordance with the financial reporting framework, and for such internal control as the Accountable Officer determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error."
        },
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            "text": "In preparing the financial statements, the Accountable Officer is responsible for assessing the ability of the body and its group to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless there is an intention to discontinue the body's operations."
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Page 103

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        {
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            "text": "My 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 my 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 decisions of users taken on the basis of these financial statements."
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            "text": "Irregularities, including fraud, are instances of non-compliance with laws and regulations. I design procedures in line with my responsibilities outlined above to detect material misstatements in respect of irregularities, including fraud. Procedures include:"
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        {
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                    "text": "Using my understanding of the central government sector to identify that the Enterprise and New Towns (Scotland) Act 1990 and directions made thereunder by the Scottish Ministers are significant in the context of the body and its group;"
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                {
                    "id": "p103.7.2",
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                    "text": "Inquiring of the Accountable Officer as to other laws or regulations that may be expected to have a fundamental effect on the operations of the body and its group;"
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                    "text": "Inquiring of the Accountable Officer concerning the body's policies and procedures regarding compliance with the applicable legal and regulatory framework;"
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                    "text": "Discussions among my audit team on the susceptibility of the financial statements to material misstatement, including how fraud might occur; and",
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                    "text": "Considering whether the audit team collectively has the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations.",
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                    "text": "The extent to which my procedures are capable of detecting irregularities, including fraud, is affected by the inherent difficulty in detecting irregularities, the effectiveness of the body's controls, and the nature, timing and extent of the audit procedures performed."
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            "text": "Irregularities that result from fraud are inherently more difficult to detect than irregularities that result from error as fraud may involve collusion, intentional omissions, misrepresentations, or the override of internal control. The capability of the audit to detect fraud and other irregularities depends on factors such as the skilfulness of the perpetrator, the frequency and extent of manipulation, the degree of collusion involved, the relative size of individual amounts manipulated, and the seniority of those individuals involved."
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            "text": "A further description of the auditor's responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of my auditor's report."
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            "text": "In my opinion in all material respects the expenditure and income in the financial statements were incurred or applied in accordance with any applicable enactments and guidance issued by the Scottish Ministers."
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            "text": "The Accountable Officer is responsible for ensuring the regularity of expenditure and income. In addition to my responsibilities in respect of irregularities explained in the audit of the financial statements section of my report, I am responsible for expressing an opinion on the regularity of expenditure and income in accordance with the Public Finance and Accountability (Scotland) Act 2000."
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            "text": "Opinion prescribed by the Auditor General for Scotland on audited parts of the Remuneration and Staff Report",
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            "text": "I have audited the parts of the Remuneration and Staff Report described as audited. In my opinion, the audited parts of the Remuneration and Staff Report have been properly prepared in accordance with the Enterprise and New Towns (Scotland) Act 1990 and directions made thereunder by the Scottish Ministers."
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            "text": "Other information",
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            "text": "The Accountable Officer is responsible for the other information in the annual report and accounts. The other information comprises the Performance Report and the Accountability Report excluding the audited parts of the Remuneration and Staff Report."
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            "text": "My responsibility is to read all the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or my knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If I identify such material inconsistencies or apparent material misstatements, I am required"
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Page 105

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            "text": "to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work I have performed, I conclude that there is a material misstatement of this other information, I am required to report that fact. I have nothing to report in this regard."
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            "text": "In my opinion, based on the work undertaken in the course of the audit:"
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                    "text": "The information given in the Performance Report for the financial year for which the financial statements are prepared is consistent with the financial statements and that report has been prepared in accordance with the Enterprise and New Towns (Scotland) Act 1990 and directions made thereunder by the Scottish Ministers; and"
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                    "text": "The information given in the Governance Statement for the financial year for which the financial statements are prepared is consistent with the financial statements and that report has been prepared in accordance with the Enterprise and New Towns (Scotland) Act 1990 and directions made thereunder by the Scottish Ministers."
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            "text": "Matters on which I am required to report by exception",
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            "text": "I am required by the Auditor General for Scotland to report to you if, in my opinion:"
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                    "text": "I have not received all the information and explanations I require for my audit."
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Page 106

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            "text": "In addition to my responsibilities for the annual report and financial statements, my conclusions on the wider scope responsibilities specified in the Code of Audit Practice are set out in my Annual Audit Report."
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            "text": "This report is made solely to the parties to whom it is addressed in accordance with the Public Finance and Accountability (Scotland) Act 2000 and for no other purpose. In accordance with paragraph 108 of the Code of Audit Practice, I do not undertake to have responsibilities to members or officers, in their individual capacities, or to third parties."
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Page 108

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r11c0 (0%): “Income from investments”
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                    "text": "207,470",
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                        "col": 3,
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                    "text": "Taxpayers' Equity\nNon-Controlling Interest",
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                    "text": "284,710\n(42)\n284,668",
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            "text": "145",
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                "l": 190.49,
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5 · TABLE
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103 · LINK
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Page 110

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                    "text": "CURRENT ASSETS",
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                        "bbox_refit": true
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                    "text": "",
                    "attrs": {
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                    "id": "p110.5.45",
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                    "bbox": {
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                    "text": "Other investments\nLease receivables\nAssets classified as held for sale\nInventories\nTrade and other receivables\nCash and cash equivalents\nTOTAL CURRENT ASSETS\nTOTAL ASSETS",
                    "attrs": {
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                    "text": "9\n13\n14\n15\n16\n17",
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                    "text": "8,708\n52\n1,497\n108\n6,625\n175,645\n192,635\n759,955",
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                    "text": "CURRENT LIABILITIES",
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Page 111

34 item(s) JSON
header (2) heading (1) link (2) table (1) table_cell (25) text (3)
Page 111
1 · HEADER
2 · HEADER
3 · HEADING
4 · TABLE
5
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30 · TEXT
31 · LINK
32 · LINK
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34 · TEXT
Page 111 JSON
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}

Page 112

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Page 112
1 · HEADER
2 · HEADER
3 · HEADER
4 · CAPTION
5 · TABLE
6
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                    "bbox": {
                        "l": 468.96,
                        "t": 571.3786,
                        "r": 495.53304,
                        "b": 559.6251399999999
                    },
                    "text": "11,349",
                    "attrs": {
                        "row": 5,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p112.5.23",
                    "order": 28,
                    "type": "table_cell",
                    "bbox": {
                        "l": 426.8739,
                        "t": 575.3788,
                        "r": 555.9679,
                        "b": 558.5012
                    },
                    "text": "-",
                    "attrs": {
                        "row": 5,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p112.5.24",
                    "order": 29,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 556.3786,
                        "r": 184.77776,
                        "b": 544.6251399999999
                    },
                    "text": "Other non-current receivables",
                    "attrs": {
                        "row": 6,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p112.5.25",
                    "order": 30,
                    "type": "table_cell",
                    "bbox": {
                        "l": 417.18,
                        "t": 556.3786,
                        "r": 426.3312,
                        "b": 544.6251399999999
                    },
                    "text": "12",
                    "attrs": {
                        "row": 6,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p112.5.26",
                    "order": 31,
                    "type": "table_cell",
                    "bbox": {
                        "l": 479.04,
                        "t": 556.3786,
                        "r": 495.51288,
                        "b": 544.6251399999999
                    },
                    "text": "387",
                    "attrs": {
                        "row": 6,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p112.5.27",
                    "order": 32,
                    "type": "table_cell",
                    "bbox": {
                        "l": 536.46,
                        "t": 556.3786,
                        "r": 552.93288,
                        "b": 544.6251399999999
                    },
                    "text": "387",
                    "attrs": {
                        "row": 6,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p112.5.28",
                    "order": 33,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 541.3186,
                        "r": 126.19422,
                        "b": 529.5651399999999
                    },
                    "text": "Lease receivables",
                    "attrs": {
                        "row": 7,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p112.5.29",
                    "order": 34,
                    "type": "table_cell",
                    "bbox": {
                        "l": 417.24,
                        "t": 541.3186,
                        "r": 426.291,
                        "b": 529.5651399999999
                    },
                    "text": "13",
                    "attrs": {
                        "row": 7,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p112.5.30",
                    "order": 35,
                    "type": "table_cell",
                    "bbox": {
                        "l": 297.7799,
                        "t": 541.6235,
                        "r": 426.8739,
                        "b": 524.7459
                    },
                    "text": "-",
                    "attrs": {
                        "row": 7,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p112.5.31",
                    "order": 36,
                    "type": "table_cell",
                    "bbox": {
                        "l": 541.68,
                        "t": 541.3186,
                        "r": 552.9312,
                        "b": 529.5651399999999
                    },
                    "text": "52",
                    "attrs": {
                        "row": 7,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p112.5.32",
                    "order": 37,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 526.3186,
                        "r": 193.46582,
                        "b": 514.5651399999999
                    },
                    "text": "TOTAL NON-CURRENT ASSETS",
                    "attrs": {
                        "row": 8,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p112.5.33",
                    "order": 38,
                    "type": "table_cell",
                    "bbox": {
                        "l": 168.686,
                        "t": 524.7459,
                        "r": 297.7799,
                        "b": 507.8682
                    },
                    "text": "",
                    "attrs": {
                        "row": 8,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p112.5.34",
                    "order": 39,
                    "type": "table_cell",
                    "bbox": {
                        "l": 459.66,
                        "t": 526.3186,
                        "r": 495.54162,
                        "b": 514.5651399999999
                    },
                    "text": "497,614",
                    "attrs": {
                        "row": 8,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p112.5.35",
                    "order": 40,
                    "type": "table_cell",
                    "bbox": {
                        "l": 518.7,
                        "t": 526.3186,
                        "r": 552.9183,
                        "b": 514.5651399999999
                    },
                    "text": "551,415",
                    "attrs": {
                        "row": 8,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p112.5.36",
                    "order": 41,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 496.25859999999994,
                        "r": 132.00582,
                        "b": 484.50514
                    },
                    "text": "CURRENT ASSETS",
                    "attrs": {
                        "row": 9,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p112.5.37",
                    "order": 42,
                    "type": "table_cell",
                    "bbox": {
                        "l": 168.686,
                        "t": 507.8682,
                        "r": 297.7799,
                        "b": 490.9906
                    },
                    "text": "",
                    "attrs": {
                        "row": 9,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p112.5.38",
                    "order": 43,
                    "type": "table_cell",
                    "bbox": {
                        "l": 297.7799,
                        "t": 507.8682,
                        "r": 426.8739,
                        "b": 490.9906
                    },
                    "text": "",
                    "attrs": {
                        "row": 9,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p112.5.39",
                    "order": 44,
                    "type": "table_cell",
                    "bbox": {
                        "l": 426.8739,
                        "t": 507.8682,
                        "r": 555.9679,
                        "b": 490.9906
                    },
                    "text": "",
                    "attrs": {
                        "row": 9,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p112.5.40",
                    "order": 45,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 481.19859999999994,
                        "r": 195.84324,
                        "b": 379.24513999999994
                    },
                    "text": "Other investments\nLease receivables\nAssets classified as held for sale\nTrade and other receivables\nCash and cash equivalents\nTOTAL CURRENT ASSETS\nTOTAL ASSETS",
                    "attrs": {
                        "row": 10,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p112.5.41",
                    "order": 46,
                    "type": "table_cell",
                    "bbox": {
                        "l": 417.06,
                        "t": 481.19859999999994,
                        "r": 426.45156,
                        "b": 409.30513999999994
                    },
                    "text": "9\n13\n14\n16\n17",
                    "attrs": {
                        "row": 10,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p112.5.42",
                    "order": 47,
                    "type": "table_cell",
                    "bbox": {
                        "l": 458.28,
                        "t": 481.19859999999994,
                        "r": 495.54912,
                        "b": 379.24513999999994
                    },
                    "text": "8,708\n52\n1,497\n5,753\n173,635\n189,645\n687,259",
                    "attrs": {
                        "row": 10,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p112.5.43",
                    "order": 48,
                    "type": "table_cell",
                    "bbox": {
                        "l": 514.62,
                        "t": 481.19859999999994,
                        "r": 552.96654,
                        "b": 379.24513999999994
                    },
                    "text": "19,319\n151\n2,416\n6,054\n167,637\n195,577\n746,992",
                    "attrs": {
                        "row": 10,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p112.5.44",
                    "order": 49,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 360.93859999999995,
                        "r": 150.61296,
                        "b": 349.18513999999993
                    },
                    "text": "CURRENT LIABILITIES",
                    "attrs": {
                        "row": 11,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p112.5.45",
                    "order": 50,
                    "type": "table_cell",
                    "bbox": {
                        "l": 168.686,
                        "t": 372.8471,
                        "r": 297.7799,
                        "b": 355.9694
                    },
                    "text": "",
                    "attrs": {
                        "row": 11,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p112.5.46",
                    "order": 51,
                    "type": "table_cell",
                    "bbox": {
                        "l": 297.7799,
                        "t": 372.8471,
                        "r": 426.8739,
                        "b": 355.9694
                    },
                    "text": "",
                    "attrs": {
                        "row": 11,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p112.5.47",
                    "order": 52,
                    "type": "table_cell",
                    "bbox": {
                        "l": 426.8739,
                        "t": 372.8471,
                        "r": 555.9679,
                        "b": 355.9694
                    },
                    "text": "",
                    "attrs": {
                        "row": 11,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p112.5.48",
                    "order": 53,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 345.93859999999995,
                        "r": 162.01572,
                        "b": 319.12514
                    },
                    "text": "Trade and other payables\nIncome tax payable",
                    "attrs": {
                        "row": 12,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p112.5.49",
                    "order": 54,
                    "type": "table_cell",
                    "bbox": {
                        "l": 417,
                        "t": 345.93859999999995,
                        "r": 426.46182,
                        "b": 334.18513999999993
                    },
                    "text": "18",
                    "attrs": {
                        "row": 12,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p112.5.50",
                    "order": 55,
                    "type": "table_cell",
                    "bbox": {
                        "l": 458.22,
                        "t": 345.93859999999995,
                        "r": 495.5361,
                        "b": 319.12514
                    },
                    "text": "(60,000)\n(887)",
                    "attrs": {
                        "row": 12,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p112.5.51",
                    "order": 56,
                    "type": "table_cell",
                    "bbox": {
                        "l": 519,
                        "t": 345.93859999999995,
                        "r": 552.9555,
                        "b": 319.12514
                    },
                    "text": "(78,241)\n(629)",
                    "attrs": {
                        "row": 12,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p112.5.52",
                    "order": 57,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 315.8786,
                        "r": 302.40132,
                        "b": 259.00514
                    },
                    "text": "Provisions\nLease liabilities\nTOTAL CURRENT LIABILITIES\nNON-CURRENT ASSETS PLUS NET CURRENT ASSETS",
                    "attrs": {
                        "row": 13,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p112.5.53",
                    "order": 58,
                    "type": "table_cell",
                    "bbox": {
                        "l": 415.92,
                        "t": 315.8786,
                        "r": 427.64214,
                        "b": 289.06513999999993
                    },
                    "text": "19\n20",
                    "attrs": {
                        "row": 13,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p112.5.54",
                    "order": 59,
                    "type": "table_cell",
                    "bbox": {
                        "l": 456.72,
                        "t": 315.8786,
                        "r": 495.56724,
                        "b": 259.00514
                    },
                    "text": "(151)\n(1,199)\n(62,237)\n625,022",
                    "attrs": {
                        "row": 13,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p112.5.55",
                    "order": 60,
                    "type": "table_cell",
                    "bbox": {
                        "l": 513.36,
                        "t": 315.8786,
                        "r": 552.95712,
                        "b": 259.00514
                    },
                    "text": "(3,205)\n(1,361)\n(83,436)\n663,556",
                    "attrs": {
                        "row": 13,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p112.5.56",
                    "order": 61,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 240.69859999999994,
                        "r": 177.85272,
                        "b": 228.94513999999992
                    },
                    "text": "NON-CURRENT LIABILITIES",
                    "attrs": {
                        "row": 14,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p112.5.57",
                    "order": 62,
                    "type": "table_cell",
                    "bbox": {
                        "l": 168.686,
                        "t": 254.7035,
                        "r": 297.7799,
                        "b": 237.8259
                    },
                    "text": "",
                    "attrs": {
                        "row": 14,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p112.5.58",
                    "order": 63,
                    "type": "table_cell",
                    "bbox": {
                        "l": 297.7799,
                        "t": 254.7035,
                        "r": 426.8739,
                        "b": 237.8259
                    },
                    "text": "",
                    "attrs": {
                        "row": 14,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p112.5.59",
                    "order": 64,
                    "type": "table_cell",
                    "bbox": {
                        "l": 426.8739,
                        "t": 254.7035,
                        "r": 555.9679,
                        "b": 237.8259
                    },
                    "text": "",
                    "attrs": {
                        "row": 14,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p112.5.60",
                    "order": 65,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 225.69859999999994,
                        "r": 114.62112,
                        "b": 183.88513999999998
                    },
                    "text": "Other payables\nProvisions\nLease liabilities",
                    "attrs": {
                        "row": 15,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p112.5.61",
                    "order": 66,
                    "type": "table_cell",
                    "bbox": {
                        "l": 415.92,
                        "t": 225.69859999999994,
                        "r": 427.64214,
                        "b": 183.88513999999998
                    },
                    "text": "18\n19\n20",
                    "attrs": {
                        "row": 15,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p112.5.62",
                    "order": 67,
                    "type": "table_cell",
                    "bbox": {
                        "l": 457.44,
                        "t": 225.69859999999994,
                        "r": 495.5361,
                        "b": 183.88513999999998
                    },
                    "text": "(219,019)\n(3,564)\n(3,289)",
                    "attrs": {
                        "row": 15,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p112.5.63",
                    "order": 68,
                    "type": "table_cell",
                    "bbox": {
                        "l": 512.1,
                        "t": 225.69859999999994,
                        "r": 552.95586,
                        "b": 183.88513999999998
                    },
                    "text": "(208,815)\n(2,554)\n(388)",
                    "attrs": {
                        "row": 15,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p112.5.64",
                    "order": 69,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 180.57859999999994,
                        "r": 171.80526,
                        "b": 168.82513999999992
                    },
                    "text": "Retirement benefit scheme",
                    "attrs": {
                        "row": 16,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p112.5.65",
                    "order": 70,
                    "type": "table_cell",
                    "bbox": {
                        "l": 418.2,
                        "t": 180.57859999999994,
                        "r": 425.2971,
                        "b": 168.82513999999992
                    },
                    "text": "11",
                    "attrs": {
                        "row": 16,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p112.5.66",
                    "order": 71,
                    "type": "table_cell",
                    "bbox": {
                        "l": 297.7799,
                        "t": 187.1929,
                        "r": 426.8739,
                        "b": 170.3153
                    },
                    "text": "-",
                    "attrs": {
                        "row": 16,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p112.5.67",
                    "order": 72,
                    "type": "table_cell",
                    "bbox": {
                        "l": 522,
                        "t": 180.57859999999994,
                        "r": 552.94176,
                        "b": 168.82513999999992
                    },
                    "text": "(8,250)",
                    "attrs": {
                        "row": 16,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p112.5.68",
                    "order": 73,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 165.57859999999994,
                        "r": 212.0429,
                        "b": 138.74514
                    },
                    "text": "TOTAL NON-CURRENT LIABILITIES\nASSETS LESS LIABILITIES",
                    "attrs": {
                        "row": 17,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p112.5.69",
                    "order": 74,
                    "type": "table_cell",
                    "bbox": {
                        "l": 168.686,
                        "t": 170.3153,
                        "r": 297.7799,
                        "b": 153.4376
                    },
                    "text": "",
                    "attrs": {
                        "row": 17,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p112.5.70",
                    "order": 75,
                    "type": "table_cell",
                    "bbox": {
                        "l": 450.78,
                        "t": 165.57859999999994,
                        "r": 495.56724,
                        "b": 138.74514
                    },
                    "text": "(225,872)\n399,150",
                    "attrs": {
                        "row": 17,
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Page 113

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Page 114

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Page 115

39 item(s) JSON
header (3) link (2) table (1) table_cell (32) text (1)
Page 115
1 · HEADER
2 · HEADER
3 · HEADER
4 · TABLE
5
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37 · TEXT
38 · LINK
39 · LINK
Page 115 JSON
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Page 116

47 item(s) JSON
header (3) heading (1) table (1) table_cell (42)
Page 116
1 · HEADER
2 · HEADER
3 · HEADER
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5 · TABLE
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Page 116 JSON
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Page 117

39 item(s) JSON
header (3) link (2) table (1) table_cell (32) text (1)
Page 117
1 · HEADER
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37 · TEXT
38 · LINK
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Page 117 JSON
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Page 118

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Page 118
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Page 119

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Page 119
1 · HEADER
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r4c0 (57%): “Remeasurement gains / (losses) in retirement benefit scheme”
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Page 120

67 item(s) JSON
header (3) table (1) table_cell (60) text (2) title (1)
Page 120
1 · HEADER
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Page 121

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Page 121
1 · HEADER
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Page 121 JSON
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Page 122

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                            "text": "Expenditure",
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                            "text": "Taxation",
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                            "text": "Employee Benefits",
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                            "text": "Exchange Gains and Losses",
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                            "text": "Cash and Cash Equivalents",
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                            "text": "18",
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                            "text": "Provisions",
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                            "text": "20",
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                            "text": "Contingent Liabilities",
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                            "text": "Critical Accounting Estimates and Judgements",
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                            "text": "Accounting Standards Issued not yet Adopted",
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Page 123

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            "text": "Assets Classified as Held for Sale",
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            "text": "14)",
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            "text": "The Board and Accountable Officer have considered the Resource Budget for 2026-27, comprising the availability of Grant in Aid and ‘non-cash’ budget provision, and consider that Scottish Enterprise has adequate resources to continue in operational existence for"
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Page 124

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            "text": "the foreseeable future. The accounts are therefore prepared on a going concern basis. Further details of Scottish Enterprise's Resource Budget for 2026-27 are given in the Performance Report and the Accountability Report. Details of the liquidity position are given in Note 23."
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            "text": "The Group Accounts consolidate the accounts of Scottish Enterprise and all its subsidiary undertakings drawn up to 31 March each year unless otherwise noted."
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            "text": "Subsidiaries are all entities over which the Group has control over their financial and operating policies. The existence and effect of potential voting rights that are currently exercisable or convertible are considered when assessing whether the Group controls another entity."
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            "text": "Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are de-consolidated from the date that control ceases."
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            "text": "On consolidation, inter-company transactions, balances and unrealised gains on transactions between Group companies are eliminated. Unrealised losses are also eliminated. Accounting policies of subsidiaries have been changed where necessary and material to ensure consistency with the policies adopted by the Group."
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            "text": "Associates are entities over which the Group has significant influence but not control. Companies whose business is compatible with the objectives of the Group, in which the holdings are intended to be retained as long-term investments and in which the Group has active management involvement are treated as associated undertakings."
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            "text": "Joint ventures are those entities over whose activities the Group has joint control of the arrangement and has rights to the net assets of the arrangement, established by contractual agreements and requiring unanimous consent for strategic financial and operational decisions."
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            "text": "Investments in associates and joint ventures are accounted for using the equity method of accounting and are initially recognised at cost. Scottish Enterprise uses the most recent available financial statements in applying the equity method. In cases where the reporting date of the associate differs from Scottish Enterprise, adjustments are made for any"
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Page 125

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            "text": "significant transactions or events that occur between that date and the date of these financial statements."
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            "text": "The Group’s investments include goodwill identified on acquisition, net of any accumulated impairment losses. The Group accounts include the Group’s share of the income and expenses, and equity movements of equity accounted investees, after adjustments to align the accounting policies of those of the Group, from the date that significant influence or joint control commences until the date that significant influence or joint control ceases."
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            "text": "When the Group's share of losses exceeds its interest in an equity accounted investee, the carrying amount of that interest, including any long-term investments, is reduced to nil, and the recognition of further losses is discontinued except to the extent that the Group has an obligation or has made payments on behalf of the investee."
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            "text": "In respect of other invested companies, Scottish Enterprise considers that in general, the role of the Group is normally that of a passive investor and that investment holdings taken will be disposed of at the earliest opportunity. Scottish Enterprise’s role is to provide funding, primarily alongside venture capital co-investment partners, to individual companies to drive economic growth in Scotland and therefore, although a holding may at any particular time be in excess of 20% of the equity, these companies are not accounted for as associated undertakings, in view of the absence of influence over their financial and operating policies."
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            "text": "Scottish Enterprise receives Grant in Aid from the Scottish Ministers on an annual basis\ncoincident with the Group's financial year to finance its net operating costs. Grant in Aid is\ncredited to the General Reserve and the net cost of activities funded by Grant in Aid is\ncharged to this reserve."
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            "text": "Scottish Enterprise also receives Financial Transactions funding from the Scottish Government for the specific purpose of financing equity investments and the provision of loans. Financial Transactions funding is repayable over variable periods and is recognised as a current or long-term liability in accordance with the estimated repayment terms of the underlying financial assets, initially at the time each tranche of funding is drawn down from the Scottish Government and then reviewed on an annual basis thereafter. For equity investments, where it is difficult to predict the timing of an exit, indicative repayments timescales are set as 10 years. As cashflows cannot be estimated reliably the Financial Transactions liability detailed in Note 18 has not been discounted."
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            "text": "Land held for or under development, or for the Group's own use, is held at fair value and is valued in accordance with The Royal Institution of Chartered Surveyors Valuation - Global Standards ('The Global Red Book') and having regards to the UK National Supplement and specifically the basis valuation for IFRS. Details of valuation techniques used to determine fair value of land are given in Note 10."
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            "text": "Increases in the carrying amount arising on revaluation of land are credited to the Revaluation Reserve. Decreases that offset previous increases on the same asset are charged against the Revaluation Reserve relating to the asset; all other decreases are charged to the Statement of Comprehensive Net Expenditure."
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            "text": "A policy of revaluation has been adopted in respect of property assets owned by Scottish Enterprise including any property occupied by Scottish Enterprise for its own use. These are stated in the accounts on a fair value basis, except for the Glasgow Science Centre, which due to the specialist nature of the building, is valued based on depreciated replacement cost."
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            "text": "Buildings are held at fair value and are valued in accordance with the Valuation Standards issued by The Royal Institution of Chartered Surveyors, based on their existing condition and use. Details of valuation techniques used to determine fair value of buildings are given in Note 10."
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            "text": "Assets under construction are shown at cost less any impairment charges. Once completed these assets are reclassified into land and buildings and are revalued at fair value. Increases or decreases in value at the time of the first professional revaluation are accounted for on the same basis as other revaluation movements noted below."
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            "text": "Increases in the carrying amount arising on revaluation of buildings are credited to the Revaluation Reserve except for increases that offset previous decreases charged to the Statement of Comprehensive Net Expenditure on the same asset. In these cases, increases are credited to the Statement of Comprehensive Net Expenditure to the extent of previous decreases and subsequently to the Revaluation Reserve."
        },
        {
            "id": "p127.5",
            "order": 5,
            "type": "text",
            "bbox": {
                "l": 39.592,
                "t": 648,
                "r": 514.9362,
                "b": 598.8
            },
            "text": "Decreases that offset previous increases on the same asset are charged against the Revaluation Reserve relating to the asset; all other decreases are charged to the Statement of Comprehensive Net Expenditure."
        },
        {
            "id": "p127.6",
            "order": 6,
            "type": "text",
            "bbox": {
                "l": 39.1121,
                "t": 585.84,
                "r": 519.9752,
                "b": 553.44
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            "text": "When revalued assets are sold, the amounts included in the Revaluation Reserve are transferred to the General Reserve."
        },
        {
            "id": "p127.7",
            "order": 7,
            "type": "text",
            "bbox": {
                "l": 39.3521,
                "t": 540.24,
                "r": 526.4539,
                "b": 507.84
            },
            "text": "A depreciation charge is applied in the year of acquisition of an asset and no charge is made in the year in which it is disposed."
        },
        {
            "id": "p127.8",
            "order": 8,
            "type": "text",
            "bbox": {
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                "t": 493.92,
                "r": 538.6914,
                "b": 393.84
            },
            "text": "Depreciation is charged to the Statement of Comprehensive Net Expenditure on the revalued amount of each property less the estimated residual value on a straight-line basis over their expected useful lives of up to a maximum of 55 years. Where an item of property has significant components, the components are depreciated separately, in accordance with their useful lives. The useful lives of property assets are determined in consultation with Graham & Sibbald, Chartered Surveyors."
        },
        {
            "id": "p127.9",
            "order": 9,
            "type": "text",
            "bbox": {
                "l": 39.832,
                "t": 380.64,
                "r": 553.8084,
                "b": 348.48
            },
            "text": "The properties' residual values and useful lives are reviewed, and adjusted if appropriate, at the date of each Statement of Financial Position."
        },
        {
            "id": "p127.10",
            "order": 10,
            "type": "text",
            "bbox": {
                "l": 38.8722,
                "t": 335.04,
                "r": 545.1701,
                "b": 269.52
            },
            "text": "The difference between depreciation based on the revalued carrying amount of the asset charged to the Statement of Comprehensive Net Expenditure and depreciation based on the asset's original cost is transferred from the Revaluation Reserve to the General Reserve."
        },
        {
            "id": "p127.11",
            "order": 11,
            "type": "heading",
            "bbox": {
                "l": 40.7918,
                "t": 254.64,
                "r": 439.1115,
                "b": 229.44
            },
            "text": "Revaluation of Land and Property",
            "attrs": {
                "block_label": "paragraph_title"
            },
            "level": 3
        },
        {
            "id": "p127.12",
            "order": 12,
            "type": "text",
            "bbox": {
                "l": 39.3521,
                "t": 218.16,
                "r": 532.6926,
                "b": 169.44
            },
            "text": "As stated in the Government Financial Reporting Manual (FReM), it is for accounts preparers, in consultation with their valuers and using the RICS Red Book, to determine the most appropriate revaluation process for an asset:"
        },
        {
            "id": "p127.13",
            "order": 13,
            "type": "list",
            "bbox": {
                "l": 39.3521,
                "t": 161.76,
                "r": 541.8108,
                "b": 78.72
            },
            "text": "",
            "attrs": {
                "item_count": 3
            },
            "children": [
                {
                    "id": "p127.13.1",
                    "order": 14,
                    "type": "list_item",
                    "bbox": {
                        "l": 39.592,
                        "t": 161.76,
                        "r": 410.5572,
                        "b": 146.88
                    },
                    "text": "A quinquennial valuation supplemented by annual indexation.",
                    "marker": "a)"
                },
                {
                    "id": "p127.13.2",
                    "order": 15,
                    "type": "list_item",
                    "bbox": {
                        "l": 39.592,
                        "t": 144.72,
                        "r": 541.8108,
                        "b": 113.52
                    },
                    "text": "A rolling programme of valuations over a 5-year cycle, with annual indexation applied to assets during the 4 intervening years.",
                    "marker": "b)"
                },
                {
                    "id": "p127.13.3",
                    "order": 16,
                    "type": "list_item",
                    "bbox": {
                        "l": 39.3521,
                        "t": 110.88,
                        "r": 521.4149,
                        "b": 78.72
                    },
                    "text": "In rare circumstances where an appropriate index is not available, a quinquennial revaluation supplemented by a desktop revaluation in year 3.",
                    "marker": "c)"
                }
            ]
        }
    ],
    "excluded_furniture": {
        "first": [],
        "last": []
    }
}

Page 128

16 item(s) JSON
header (3) heading (3) table (1) table_cell (2) text (7)
Page 128
1 · HEADER
2 · HEADER
3 · HEADER
4 · TEXT
5 · HEADING
6 · TEXT
7 · TEXT
8 · TABLE
9
10
11 · TEXT
12 · TEXT
13 · HEADING
14 · TEXT
15 · HEADING
16 · TEXT
Page 128 JSON
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            "text": "128",
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            "level": 2
        },
        {
            "id": "p128.2",
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            "type": "header",
            "bbox": {
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            },
            "text": "SCOTTISH ENTERPRISE ANNUAL REPORT AND ACCOUNTS 2026",
            "attrs": {
                "block_label": "header"
            },
            "level": 2
        },
        {
            "id": "p128.3",
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            "type": "header",
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            "text": "Statement of Accounting Policies",
            "attrs": {
                "block_label": "header"
            },
            "level": 2
        },
        {
            "id": "p128.4",
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            "bbox": {
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            "text": "A full valuation of all land and property assets has been carried out at 31 March 2026. This has been considered the most appropriate revaluation policy for Scottish Enterprise and the Group assets for 2025-26."
        },
        {
            "id": "p128.5",
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            "type": "heading",
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            "text": "Non property assets",
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            "level": 3
        },
        {
            "id": "p128.6",
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            "type": "text",
            "bbox": {
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            "text": "As permitted by the FReM, non-property assets are carried at depreciated historic cost. Scottish Enterprise and the Group consider that all the assets in these categories have short useful lives, and the depreciation rates provide a realistic reflection of consumption and reduction in carrying value."
        },
        {
            "id": "p128.7",
            "order": 7,
            "type": "text",
            "bbox": {
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                "t": 565.68,
                "r": 544.2103,
                "b": 532.8
            },
            "text": "Non property assets are depreciated on a straight-line basis to allocate their cost to their residual values over their estimated useful lives as follows:"
        },
        {
            "id": "p128.8",
            "order": 8,
            "type": "table",
            "bbox": {
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            "attrs": {
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                "n_cols": 2,
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                    "cells_flagged": 0
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            },
            "children": [
                {
                    "id": "p128.8.1",
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                        "l": 42.54,
                        "t": 515.8599999999999,
                        "r": 184.884,
                        "b": 439.44399999999996
                    },
                    "text": "Plant and Equipment\nInformation Technology\nFurniture and Fittings\nLeasehold Improvements",
                    "attrs": {
                        "row": 0,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
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                },
                {
                    "id": "p128.8.2",
                    "order": 10,
                    "type": "table_cell",
                    "bbox": {
                        "l": 297.46,
                        "t": 515.8599999999999,
                        "r": 383.32,
                        "b": 439.44399999999996
                    },
                    "text": "over 4 years\nover 3-11 years\nover 3-10 years\nover 3-15 years",
                    "attrs": {
                        "row": 0,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
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            ]
        },
        {
            "id": "p128.9",
            "order": 11,
            "type": "text",
            "bbox": {
                "l": 39.3521,
                "t": 419.04,
                "r": 532.6926,
                "b": 385.44
            },
            "text": "The assets' residual values and useful lives are reviewed, and adjusted if appropriate, at the date of each Statement of Financial Position."
        },
        {
            "id": "p128.10",
            "order": 12,
            "type": "text",
            "bbox": {
                "l": 39.3521,
                "t": 372.72,
                "r": 526.6938,
                "b": 340.32
            },
            "text": "A depreciation charge is applied in the year of acquisition of an asset and no charge is made in the year in which it is disposed."
        },
        {
            "id": "p128.11",
            "order": 13,
            "type": "heading",
            "bbox": {
                "l": 39.832,
                "t": 326.4,
                "r": 333.2928,
                "b": 301.92
            },
            "text": "Subsequent expenditure",
            "attrs": {
                "block_label": "paragraph_title"
            },
            "level": 3
        },
        {
            "id": "p128.12",
            "order": 14,
            "type": "text",
            "bbox": {
                "l": 39.1121,
                "t": 288.96,
                "r": 549.0093,
                "b": 188.64
            },
            "text": "Subsequent costs are included in the asset's carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of any replaced part is derecognised. All other repairs and maintenance are charged to the Statement of Comprehensive Net Expenditure during the financial period in which they are incurred."
        },
        {
            "id": "p128.13",
            "order": 15,
            "type": "heading",
            "bbox": {
                "l": 41.0317,
                "t": 175.44,
                "r": 182.3632,
                "b": 151.44
            },
            "text": "Impairment",
            "attrs": {
                "block_label": "paragraph_title"
            },
            "level": 3
        },
        {
            "id": "p128.14",
            "order": 16,
            "type": "text",
            "bbox": {
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                "t": 139.2,
                "r": 547.3297,
                "b": 55.68
            },
            "text": "Assets that have an indefinite useful life, for example land, are not subject to depreciation or amortisation and are tested annually for impairment in the annual valuation process. Assets that are subject to depreciation and amortisation are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable."
        }
    ],
    "excluded_furniture": {
        "first": [],
        "last": []
    }
}

Page 129

15 item(s) JSON
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Page 129
1 · HEADER
2 · HEADER
3 · HEADER
4 · TEXT
5 · HEADING
6 · TEXT
7 · TEXT
8 · TEXT
9 · HEADING
10 · TEXT
11 · LIST
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13
14 · TEXT
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Page 129 JSON
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            "text": "SCOTTISH ENTERPRISE ANNUAL REPORT AND ACCOUNTS 2026",
            "attrs": {
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        {
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            "text": "Statement of Accounting Policies",
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            "text": "129",
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        {
            "id": "p129.4",
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            "text": "Impairment losses in respect of land, property, plant, and equipment are recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs of disposal and value in use. Where an asset is not held for the purpose of generating cash flows, value in use is assumed to equal the cost of replacing the service potential provided by the asset, unless there has been a reduction in service potential. Non-financial assets that suffer impairment are reviewed for possible reversal of the impairment at each subsequent reporting date."
        },
        {
            "id": "p129.5",
            "order": 5,
            "type": "heading",
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            "text": "5. Non-Current Assets Held for Sale",
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            "level": 3
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        {
            "id": "p129.6",
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            "text": "Non-current assets are reviewed regularly to ensure that they continue to contribute positively to policy and business objectives. Assets that no longer provide the required level of contribution are considered for disposal by senior management."
        },
        {
            "id": "p129.7",
            "order": 7,
            "type": "text",
            "bbox": {
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            "text": "Non-current assets are classified as assets held for sale when their carrying amount is to be recovered principally through a sale transaction, the asset is being actively marketed for sale and a sale within a period of 12 months is considered highly probable. Non-current assets held for sale are stated at the lower of carrying amount and fair value less costs of disposal."
        },
        {
            "id": "p129.8",
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            "type": "text",
            "bbox": {
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            "text": "Non-current assets held for sale are not depreciated."
        },
        {
            "id": "p129.9",
            "order": 9,
            "type": "heading",
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            },
            "text": "6. Financial Assets\nClassification",
            "attrs": {
                "block_label": "paragraph_title"
            },
            "level": 3
        },
        {
            "id": "p129.10",
            "order": 10,
            "type": "text",
            "bbox": {
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            },
            "text": "Scottish Enterprise classifies its financial assets in the following categories:"
        },
        {
            "id": "p129.11",
            "order": 11,
            "type": "list",
            "bbox": {
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                "r": 488.5415,
                "b": 184.8
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            "text": "",
            "attrs": {
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                        "r": 488.5415,
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                    },
                    "text": "Those to be measured subsequently at fair value through profit or loss; and"
                },
                {
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                    "order": 13,
                    "type": "list_item",
                    "bbox": {
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                        "t": 200.83999999999992,
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                    "text": "Those to be measured at amortised cost."
                }
            ]
        },
        {
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            "type": "text",
            "bbox": {
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                "r": 532.9326,
                "b": 138.24
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            "text": "The classification depends on the purpose for which the financial assets were acquired and the contractual terms of the cash flows."
        },
        {
            "id": "p129.13",
            "order": 15,
            "type": "text",
            "bbox": {
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                "t": 125.28,
                "r": 543.2505,
                "b": 58.56
            },
            "text": "For investments in equity that are not held for trading, Scottish Enterprise has not made an irrevocable election to account for the equity investment at fair value through other comprehensive income, and therefore for assets measured at fair value, gains and losses are recorded in profit or loss."
        }
    ],
    "excluded_furniture": {
        "first": [],
        "last": []
    }
}

Page 130

16 item(s) JSON
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Page 130
1 · HEADER
2 · HEADER
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7 · HEADING
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9 · HEADING
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11 · TEXT
12 · HEADING
13 · HEADING
14 · TEXT
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Page 130 JSON
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            "text": "Management determines the classification of its financial assets at initial recognition and reclassifies debt investments only when the business model for managing those assets changes."
        },
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            "text": "Fair value",
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            "text": "Fair value assets are non-derivative financial assets that are either designated in this category or not classified as amortised cost. They are included in non-current assets unless management intends to dispose of the investment within 12 months of the date of each Statement of Financial Position. Fair value assets comprise investments in ordinary shares, investments in preference shares which are not classified as amortised cost and convertible and other loans for which there is no fixed or determinable repayment terms."
        },
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            },
            "text": "Amortised cost",
            "attrs": {
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            },
            "level": 3
        },
        {
            "id": "p130.8",
            "order": 8,
            "type": "text",
            "bbox": {
                "l": 39.1121,
                "t": 506.16,
                "r": 538.4515,
                "b": 439.68
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            "text": "Amortised cost assets are non-derivative financial assets which are held to collect contractual cash flows. They are included in current assets except for maturities greater than 12 months after the date of each Statement of Financial Position which are classed as non-current assets."
        },
        {
            "id": "p130.9",
            "order": 9,
            "type": "heading",
            "bbox": {
                "l": 40.7918,
                "t": 426.96,
                "r": 402.6388,
                "b": 400.8
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            "text": "Recognition and derecognition",
            "attrs": {
                "block_label": "paragraph_title"
            },
            "level": 3
        },
        {
            "id": "p130.10",
            "order": 10,
            "type": "text",
            "bbox": {
                "l": 39.592,
                "t": 389.28,
                "r": 488.0616,
                "b": 356.16
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            "text": "Financial assets are recognised when Scottish Enterprise becomes party to the contractual provisions of the financial instrument."
        },
        {
            "id": "p130.11",
            "order": 11,
            "type": "text",
            "bbox": {
                "l": 39.1121,
                "t": 343.44,
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                "b": 294.24
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            "text": "Financial assets are derecognised when the rights to receive cash flows from the asset have expired or Scottish Enterprise has transferred substantially all risks and rewards of ownership."
        },
        {
            "id": "p130.12",
            "order": 12,
            "type": "heading",
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            "text": "Measurement",
            "attrs": {
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            "level": 3
        },
        {
            "id": "p130.13",
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                "l": 40.0719,
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                "r": 129.5739,
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            "text": "Fair value",
            "attrs": {
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            "level": 3
        },
        {
            "id": "p130.14",
            "order": 14,
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                "l": 38.6322,
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            "text": "At initial recognition Scottish Enterprise measures a financial asset at its fair value. Transaction costs of financial assets carried at fair value through profit and loss are expensed in profit or loss."
        },
        {
            "id": "p130.15",
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                "l": 39.3521,
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            "text": "Fair value is defined as the amount for which an asset could be exchanged between knowledgeable, willing parties in an arm's length transaction."
        },
        {
            "id": "p130.16",
            "order": 16,
            "type": "text",
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            "text": "A quoted investment is valued using the bid price on the date of each Statement of Financial Position."
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    ],
    "excluded_furniture": {
        "first": [],
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Page 131

12 item(s) JSON
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            "text": "Statement of Accounting Policies",
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        {
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            "text": "131",
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        {
            "id": "p131.4",
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            "text": "If the market for a financial asset is not active, Scottish Enterprise establishes fair value from external market evidence. Details of valuation techniques used to determine fair value of financial assets held at fair value through profit or loss are given in Note 10."
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        {
            "id": "p131.5",
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            "text": "The price of recent investment is considered the methodology most appropriate. The costs of the investment itself or the price at which a significant amount of new investment into the company is made by an independent third party will be reliable for a limited period following the date of the transaction. While the price of a subsequent funding round is a guide to fair value, Scottish Enterprise will take account of the circumstance of the funding round and any subsequent events which may imply a change to the valuation."
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            "text": "Changes in the fair value of financial assets at fair value through profit or loss are recognised in operating income or expenditure in the net expenditure statement. Dividends from such investments continue to be recognised in profit or loss as income in the year in which it is receivable."
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        {
            "id": "p131.7",
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            "level": 3
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            "id": "p131.8",
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            "bbox": {
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            "text": "Assets that are held for collection of contractual cash flows, where those cash flows represent solely payments of principal and interest, are measured at amortised cost using the effective interest rate method less provision for impairment. Interest income from these financial assets is included in finance income. Details of valuation techniques used to determine fair value of financial assets held at amortised cost are given in Note 10."
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            "text": "Impairment",
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            "level": 3
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        {
            "id": "p131.10",
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            "type": "text",
            "bbox": {
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                "r": 530.773,
                "b": 258.24
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            "text": "Scottish Enterprise assesses, on a forward-looking basis, the expected credit losses associated with its debt instruments carried at amortised cost. The impairment methodology applied depends on whether there has been significant increase in credit risk."
        },
        {
            "id": "p131.11",
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            "type": "text",
            "bbox": {
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            "text": "For credit exposures where there has not been a significant increase in credit risk since initial recognition, expected credit losses are provided for credit losses that result from default events that are possible within the next 12 months. For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default. Further details on how Scottish Enterprise determines expected credit losses associated with its debt instruments is disclosed below in “Critical accounting estimates and judgements”."
        },
        {
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            "order": 12,
            "type": "text",
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            "text": "For trade receivables, Scottish Enterprise applies the simplified approach permitted by IFRS 9, which requires lifetime losses to be recognised from initial recognition of the receivables."
        }
    ],
    "excluded_furniture": {
        "first": [],
        "last": []
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Page 132

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            "text": "Software Licences",
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            "text": "Software licences are stated at depreciated replacement cost. Amortisation is calculated on a straight-line basis over a period of three years."
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            "text": "Annual software licences are charged to the Statement of Comprehensive Net Expenditure in the year in which they are incurred."
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            "text": "Software Research and Development Costs",
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            "text": "Research costs are expensed as incurred. Development expenditure on an individual project is recognised as an intangible asset when the Group can demonstrate:"
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                    "text": "The technical feasibility of completing the intangible asset so that the asset will be available for use or sale."
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                    "text": "The ability to measure reliably the expenditure during development."
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Page 133

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            "text": "133",
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            "text": "12. Leasing",
            "attrs": {
                "block_label": "paragraph_title"
            },
            "level": 3
        },
        {
            "id": "p133.13",
            "order": 13,
            "type": "text",
            "bbox": {
                "l": 39.3521,
                "t": 283.68,
                "r": 544.9302,
                "b": 234
            },
            "text": "Leases are accounted for under IFRS16 Leases; this introduces a single lessee accounting model that requires a lessee to recognise assets and liabilities for all leases (apart from the exemptions included below)."
        },
        {
            "id": "p133.14",
            "order": 14,
            "type": "heading",
            "bbox": {
                "l": 40.0719,
                "t": 220.56,
                "r": 442.7108,
                "b": 194.4
            },
            "text": "Implementation and Assumptions",
            "attrs": {
                "block_label": "paragraph_title"
            },
            "level": 3
        },
        {
            "id": "p133.15",
            "order": 15,
            "type": "text",
            "bbox": {
                "l": 39.592,
                "t": 183.36,
                "r": 517.0958,
                "b": 133.44
            },
            "text": "The definition of a contract is expanded to include intra-UK government agreements where non-performance may not be enforceable by law. This includes, for example, Memorandum of Terms of Occupation (MOTO) agreements."
        },
        {
            "id": "p133.16",
            "order": 16,
            "type": "text",
            "bbox": {
                "l": 39.3521,
                "t": 121.44,
                "r": 548.7694,
                "b": 88.32
            },
            "text": "Scottish Enterprise has elected not to recognise right of use assets and lease liabilities for the following leases:"
        },
        {
            "id": "p133.17",
            "order": 17,
            "type": "list",
            "bbox": {
                "l": 39.3521,
                "t": 81.17999999999995,
                "r": 368.5657,
                "b": 47.28
            },
            "text": "",
            "attrs": {
                "item_count": 2
            },
            "children": [
                {
                    "id": "p133.17.1",
                    "order": 18,
                    "type": "list_item",
                    "bbox": {
                        "l": 39.832,
                        "t": 81.17999999999995,
                        "r": 160.2877,
                        "b": 65.28
                    },
                    "text": "Intangible assets;"
                },
                {
                    "id": "p133.17.2",
                    "order": 19,
                    "type": "list_item",
                    "bbox": {
                        "l": 39.3521,
                        "t": 63.360000000000014,
                        "r": 368.5657,
                        "b": 47.28
                    },
                    "text": "Non-lease components of contracts where applicable;"
                }
            ]
        }
    ],
    "excluded_furniture": {
        "first": [],
        "last": []
    }
}

Page 134

16 item(s) JSON
header (3) heading (3) list (1) list_item (4) text (5)
Page 134
1 · HEADER
2 · HEADER
3 · HEADER
4 · LIST
5
6
7
8
9 · HEADING
10 · HEADING
11 · TEXT
12 · TEXT
13 · TEXT
14 · HEADING
15 · TEXT
16 · TEXT
Page 134 JSON
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    "items": [
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            "text": "134",
            "attrs": {
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            },
            "level": 2
        },
        {
            "id": "p134.2",
            "order": 2,
            "type": "header",
            "bbox": {
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            },
            "text": "SCOTTISH ENTERPRISE ANNUAL REPORT AND ACCOUNTS 2026",
            "attrs": {
                "block_label": "header"
            },
            "level": 2
        },
        {
            "id": "p134.3",
            "order": 3,
            "type": "header",
            "bbox": {
                "l": 380.5633,
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            "text": "Statement of Accounting Policies",
            "attrs": {
                "block_label": "header"
            },
            "level": 2
        },
        {
            "id": "p134.4",
            "order": 4,
            "type": "list",
            "bbox": {
                "l": 39.1121,
                "t": 745.0799999999999,
                "r": 550.449,
                "b": 550.08
            },
            "text": "",
            "attrs": {
                "item_count": 4
            },
            "children": [
                {
                    "id": "p134.4.1",
                    "order": 5,
                    "type": "list_item",
                    "bbox": {
                        "l": 39.832,
                        "t": 745.0799999999999,
                        "r": 545.4101,
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                    },
                    "text": "Low value assets (these are determined to be in line with capitalisation thresholds on Property, Plant and Equipment except vehicles which have been deemed to be not of low value); and"
                },
                {
                    "id": "p134.4.2",
                    "order": 6,
                    "type": "list_item",
                    "bbox": {
                        "l": 39.592,
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                    "text": "Leases with a lease term of 12 months or less."
                },
                {
                    "id": "p134.4.3",
                    "order": 7,
                    "type": "list_item",
                    "bbox": {
                        "l": 39.1121,
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                        "r": 547.5696,
                        "b": 613.92
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                    "text": "At inception of a contract, Scottish Enterprise assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time."
                },
                {
                    "id": "p134.4.4",
                    "order": 8,
                    "type": "list_item",
                    "bbox": {
                        "l": 39.592,
                        "t": 600.48,
                        "r": 550.449,
                        "b": 550.08
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                    "text": "The group assesses whether it is reasonably certain to exercise break options or extension options at the lease commencement date. The group reassesses this if there are significant events or changes in circumstances that were not anticipated."
                }
            ]
        },
        {
            "id": "p134.5",
            "order": 9,
            "type": "heading",
            "bbox": {
                "l": 39.832,
                "t": 536.88,
                "r": 175.8845,
                "b": 514.56
            },
            "text": "As a lessee",
            "attrs": {
                "block_label": "paragraph_title"
            },
            "level": 3
        },
        {
            "id": "p134.6",
            "order": 10,
            "type": "heading",
            "bbox": {
                "l": 40.0719,
                "t": 499.2,
                "r": 213.077,
                "b": 479.28
            },
            "text": "Right of use assets",
            "attrs": {
                "block_label": "paragraph_title"
            },
            "level": 3
        },
        {
            "id": "p134.7",
            "order": 11,
            "type": "text",
            "bbox": {
                "l": 38.8722,
                "t": 469.44,
                "r": 544.6902,
                "b": 402.48
            },
            "text": "The group recognises a right of use asset and lease liability on the Statement of Financial Position at the commencement date. The right of use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for initial direct costs, prepayments or incentives, and costs related to restoration at the end of a lease."
        },
        {
            "id": "p134.8",
            "order": 12,
            "type": "text",
            "bbox": {
                "l": 38.6322,
                "t": 389.76,
                "r": 533.6524,
                "b": 323.52
            },
            "text": "The right of use asset is subsequently measured at either fair value or current value in existing use in line with property, plant and equipment assets. The cost measurement model in IFRS 16 is used as an appropriate proxy for current value in existing use or fair value for all current leases."
        },
        {
            "id": "p134.9",
            "order": 13,
            "type": "text",
            "bbox": {
                "l": 39.1121,
                "t": 316.8,
                "r": 550.689,
                "b": 249.6
            },
            "text": "The right of use asset is depreciated using the straight-line method from the commencement date to the earlier of the end of the useful life of the right of use asset or the end of the lease term. The estimated useful lives of the right of use assets are determined on the same basis of those of property plant and equipment assets."
        },
        {
            "id": "p134.10",
            "order": 14,
            "type": "heading",
            "bbox": {
                "l": 40.0719,
                "t": 235.68,
                "r": 182.8431,
                "b": 216.48
            },
            "text": "Lease liabilities",
            "attrs": {
                "block_label": "paragraph_title"
            },
            "level": 3
        },
        {
            "id": "p134.11",
            "order": 15,
            "type": "text",
            "bbox": {
                "l": 39.1121,
                "t": 205.44,
                "r": 546.1299,
                "b": 155.52
            },
            "text": "The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease, or if that cannot be readily determined, the rate provided by HM Treasury (HMT)."
        },
        {
            "id": "p134.12",
            "order": 16,
            "type": "text",
            "bbox": {
                "l": 39.1121,
                "t": 142.56,
                "r": 553.8084,
                "b": 59.52
            },
            "text": "The lease payment is measured at amortised cost using the effective interest method. It is re-measured when there is a change in future lease payments arising from a change in the index or rate, if there is a change in the group's estimates of the amount expected to be payable under a residual value guarantee, or if the group changes its assessment of whether it will exercise a purchase, extension or termination option."
        }
    ],
    "excluded_furniture": {
        "first": [],
        "last": []
    }
}

Page 135

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Page 135 JSON
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            "text": "SCOTTISH ENTERPRISE ANNUAL REPORT AND ACCOUNTS 2026",
            "attrs": {
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        {
            "id": "p135.2",
            "order": 2,
            "type": "header",
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            "text": "Statement of Accounting Policies",
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        {
            "id": "p135.3",
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            "text": "135",
            "attrs": {
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        },
        {
            "id": "p135.4",
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            "type": "text",
            "bbox": {
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            "text": "When the lease liability is re-measured, a corresponding adjustment is made to the right of use asset or recorded in the Statement of Comprehensive Net Expenditure if the carrying amount of the right of use asset is zero."
        },
        {
            "id": "p135.5",
            "order": 5,
            "type": "heading",
            "bbox": {
                "l": 39.3521,
                "t": 680.88,
                "r": 172.7652,
                "b": 658.56
            },
            "text": "As a lessor",
            "attrs": {
                "block_label": "paragraph_title"
            },
            "level": 3
        },
        {
            "id": "p135.6",
            "order": 6,
            "type": "text",
            "bbox": {
                "l": 39.592,
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            "text": "When the group acts as a lessor, it determines at least inception whether each lease is a finance or operating lease."
        },
        {
            "id": "p135.7",
            "order": 7,
            "type": "text",
            "bbox": {
                "l": 39.3521,
                "t": 599.04,
                "r": 529.8132,
                "b": 532.56
            },
            "text": "To classify each lease, the group makes an overall assessment of whether the lease transfers substantially all of the risks and rewards incidental to ownership of the underlying asset. If this is the case, then the lease is a finance lease, if not then it is an operating lease."
        },
        {
            "id": "p135.8",
            "order": 8,
            "type": "text",
            "bbox": {
                "l": 39.1121,
                "t": 519.84,
                "r": 543.2505,
                "b": 435.6
            },
            "text": "When the group is the intermediate lessor, it accounts for its interest in the head lease and the sub lease separately. If a head lease is a short-term lease to which the group applies the exemption above, then the sublease is classified as an operating lease. Otherwise, the sublease is classified with reference to the right-of-use asset arising from the head lease, rather than with reference to the underlying asset."
        },
        {
            "id": "p135.9",
            "order": 9,
            "type": "text",
            "bbox": {
                "l": 39.592,
                "t": 422.88,
                "r": 547.5696,
                "b": 390.96
            },
            "text": "The group recognises lease payments under operating leases as income on a straight-line basis over the length of the lease terms."
        },
        {
            "id": "p135.10",
            "order": 10,
            "type": "heading",
            "bbox": {
                "l": 39.3521,
                "t": 375.6,
                "r": 268.2659,
                "b": 346.56
            },
            "text": "13. Expenditure",
            "attrs": {
                "block_label": "paragraph_title"
            },
            "level": 3
        },
        {
            "id": "p135.11",
            "order": 11,
            "type": "text",
            "bbox": {
                "l": 39.832,
                "t": 328.08,
                "r": 326.8141,
                "b": 312.48
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            "text": "Expenditure is accounted for on an accruals basis."
        },
        {
            "id": "p135.12",
            "order": 12,
            "type": "text",
            "bbox": {
                "l": 39.1121,
                "t": 299.04,
                "r": 545.65,
                "b": 248.88
            },
            "text": "Grants payable or paid to third parties are recorded as expenditure in the period that the underlying event or activity giving rise to the grant occurs. Where necessary, obligations in respect of grant awards are recognised as liabilities."
        },
        {
            "id": "p135.13",
            "order": 13,
            "type": "text",
            "bbox": {
                "l": 39.592,
                "t": 236.16,
                "r": 482.3028,
                "b": 220.56
            },
            "text": "Goods and services expenditure is recognised in the period to which it relates."
        },
        {
            "id": "p135.14",
            "order": 14,
            "type": "heading",
            "bbox": {
                "l": 39.3521,
                "t": 205.92,
                "r": 213.557,
                "b": 178.08
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            "text": "14. Taxation",
            "attrs": {
                "block_label": "paragraph_title"
            },
            "level": 3
        },
        {
            "id": "p135.15",
            "order": 15,
            "type": "text",
            "bbox": {
                "l": 39.1121,
                "t": 157.44,
                "r": 551.6488,
                "b": 57.36
            },
            "text": "Tax on the net expenditure for the year comprises current tax. Tax is recognised in the Statement of Comprehensive Net Expenditure, except to the extent that it relates to items recognised directly in equity, in which case it is recognised in equity. Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using the rates enacted or subsequently enacted at the date of the Statement of Financial Position in the countries where Scottish Enterprise's subsidiaries operate and generate taxable"
        }
    ],
    "excluded_furniture": {
        "first": [],
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    }
}

Page 136

10 item(s) JSON
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Page 136
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2 · HEADER
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Page 136 JSON
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        },
        {
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            "text": "SCOTTISH ENTERPRISE ANNUAL REPORT AND ACCOUNTS 2026",
            "attrs": {
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        {
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            "order": 3,
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            "text": "Statement of Accounting Policies",
            "attrs": {
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        },
        {
            "id": "p136.4",
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            "text": "income, and any adjustment to the tax payable in respect of previous years. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions for corporation tax on gains, profits, and losses, as computed for tax purposes, arising from business activities based on amounts expected to be paid to the tax authorities."
        },
        {
            "id": "p136.5",
            "order": 5,
            "type": "text",
            "bbox": {
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            "text": "Deferred tax is provided on temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The amount of deferred tax provided is based on the expected manner of realisation or settlement of the carrying amount of assets and liabilities, using tax rates enacted or substantively enacted at the date of the Statement of Financial Position. A deferred tax asset is only recognised to the extent that it is probable that future taxable profits will be available against which the temporary difference can be utilised."
        },
        {
            "id": "p136.6",
            "order": 6,
            "type": "text",
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            "text": "Grant in Aid received from the Scottish Ministers is allocated in the first instance to non-business expenditures."
        },
        {
            "id": "p136.7",
            "order": 7,
            "type": "heading",
            "bbox": {
                "l": 38.6322,
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            "text": "15. Employee Benefits\nRetirement benefits",
            "attrs": {
                "block_label": "paragraph_title"
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            "level": 3
        },
        {
            "id": "p136.8",
            "order": 8,
            "type": "text",
            "bbox": {
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                "b": 353.04
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            "text": "Scottish Enterprise operates the Scottish Enterprise Pension & Life Assurance Scheme, a defined benefit retirement benefit plan."
        },
        {
            "id": "p136.9",
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            "type": "text",
            "bbox": {
                "l": 38.8722,
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            "text": "The asset recognised in the Statement of Financial Position in respect of a defined benefit plan is the fair value of plan assets less the present value of the defined benefit obligation at the date of the Statement of Financial Position, together with adjustments for unrecognised past-service costs. The defined obligation is calculated annually by independent actuaries using the projected unit credit method. The present value of the defined obligation is determined by discounting the estimated future cash outflows using interest rates of high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related liability."
        },
        {
            "id": "p136.10",
            "order": 10,
            "type": "text",
            "bbox": {
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                "r": 549.0093,
                "b": 91.2
            },
            "text": "The expected return on the plan's assets less the interest cost of the plans' obligations is recognised in the Statement of Comprehensive Net Expenditure as Other Finance Income or as Other Finance Charges where the interest cost exceeds the expected return on plan assets. The interest cost of the plan's obligations represents the increase in obligations arising from unwinding of the discount due to the passage of time."
        }
    ],
    "excluded_furniture": {
        "first": [],
        "last": []
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}

Page 137

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            },
            "text": "SCOTTISH ENTERPRISE ANNUAL REPORT AND ACCOUNTS 2026",
            "attrs": {
                "block_label": "header"
            },
            "level": 2
        },
        {
            "id": "p137.2",
            "order": 2,
            "type": "header",
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                "l": 39.832,
                "t": 786.72,
                "r": 214.7567,
                "b": 773.04
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            "text": "Statement of Accounting Policies",
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            },
            "level": 2
        },
        {
            "id": "p137.3",
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            "bbox": {
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            },
            "text": "137",
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            "level": 2
        },
        {
            "id": "p137.4",
            "order": 4,
            "type": "text",
            "bbox": {
                "l": 39.3521,
                "t": 744.72,
                "r": 530.2931,
                "b": 694.8
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            "text": "Remeasurement gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to taxpayers' funds in the Statement of Other Comprehensive Net Expenditure in the period in which they arise."
        },
        {
            "id": "p137.5",
            "order": 5,
            "type": "text",
            "bbox": {
                "l": 39.1121,
                "t": 681.36,
                "r": 554.7682,
                "b": 581.52
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            "text": "Past service costs represent the change in the present value of the obligation, in respect of prior periods' service, due to changes in benefit entitlement. Past-service costs are recognised immediately in the Statement of Comprehensive Net Expenditure, unless the changes to the pension plan are conditional on the employees remaining in service for a specified period of time (the vesting period). In this case, the past-service costs are amortised on a straight-line basis over the vesting period."
        },
        {
            "id": "p137.6",
            "order": 6,
            "type": "text",
            "bbox": {
                "l": 38.8722,
                "t": 568.56,
                "r": 548.2895,
                "b": 468.72
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            "text": "A settlement is an early settlement of all or part of the plan obligation. A curtailment occurs when the Group is demonstrably committed to significantly reduce the number of employees in the plan or amends the terms of the plan so that the benefits of future services are reduced or eliminated. Measurement of the obligation does not consider planned curtailments or settlements until the Group is committed to the curtailment or settlement with no realistic possibility of withdrawal."
        },
        {
            "id": "p137.7",
            "order": 7,
            "type": "heading",
            "bbox": {
                "l": 39.592,
                "t": 454.8,
                "r": 398.7996,
                "b": 430.8
            },
            "text": "Short term employee benefits",
            "attrs": {
                "block_label": "paragraph_title"
            },
            "level": 3
        },
        {
            "id": "p137.8",
            "order": 8,
            "type": "text",
            "bbox": {
                "l": 38.3923,
                "t": 417.84,
                "r": 554.5282,
                "b": 318.24
            },
            "text": "A liability and an expense are recognised for holiday days, holiday pay, bonuses, and other short-term benefits when the employees render service that increases their entitlement to these benefits. As a result, an accrual has been made for holidays earned but not taken. Accruals are recognised for material amounts in respect of holiday days, holiday pay, bonuses and other short-term benefits earned but not taken or paid at the date of the Statement of Financial Position."
        },
        {
            "id": "p137.9",
            "order": 9,
            "type": "heading",
            "bbox": {
                "l": 38.8722,
                "t": 303.36,
                "r": 492.8607,
                "b": 228.96
            },
            "text": "16. Exchange Gains and Losses\nFunctional and presentation currency",
            "attrs": {
                "block_label": "paragraph_title"
            },
            "level": 3
        },
        {
            "id": "p137.10",
            "order": 10,
            "type": "text",
            "bbox": {
                "l": 39.592,
                "t": 217.68,
                "r": 553.0885,
                "b": 151.2
            },
            "text": "Items included in the financial statements of each of the Group's entities are measured using the currency of the primary economic environment in which the entity operates ('the functional currency'). The Group accounts are presented in Pounds Sterling, which is Scottish Enterprise's functional and the Group's presentation currency."
        },
        {
            "id": "p137.11",
            "order": 11,
            "type": "heading",
            "bbox": {
                "l": 40.0719,
                "t": 137.28,
                "r": 359.4475,
                "b": 113.76
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            "text": "Transactions and balances",
            "attrs": {
                "block_label": "paragraph_title"
            },
            "level": 3
        },
        {
            "id": "p137.12",
            "order": 12,
            "type": "text",
            "bbox": {
                "l": 39.592,
                "t": 100.8,
                "r": 529.0933,
                "b": 51.36
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            "text": "Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or valuation where items are remeasured. Foreign exchange gains and losses resulting from the settlement of such"
        }
    ],
    "excluded_furniture": {
        "first": [],
        "last": []
    }
}

Page 138

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Page 138 JSON
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            "text": "138",
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            "text": "SCOTTISH ENTERPRISE ANNUAL REPORT AND ACCOUNTS 2026",
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        {
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            "type": "header",
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            "text": "Statement of Accounting Policies",
            "attrs": {
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        },
        {
            "id": "p138.4",
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            "text": "transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Net Expenditure."
        },
        {
            "id": "p138.5",
            "order": 5,
            "type": "heading",
            "bbox": {
                "l": 38.6322,
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            "text": "17. Cash and Cash Equivalents",
            "attrs": {
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            "level": 3
        },
        {
            "id": "p138.6",
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            "type": "text",
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            "text": "Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term highly liquid investments with original maturities of three months or less."
        },
        {
            "id": "p138.7",
            "order": 7,
            "type": "heading",
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            },
            "text": "18. Financial Liabilities",
            "attrs": {
                "block_label": "paragraph_title"
            },
            "level": 3
        },
        {
            "id": "p138.8",
            "order": 8,
            "type": "heading",
            "bbox": {
                "l": 40.3119,
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            "text": "Classification",
            "attrs": {
                "block_label": "paragraph_title"
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            "level": 3
        },
        {
            "id": "p138.9",
            "order": 9,
            "type": "text",
            "bbox": {
                "l": 39.3521,
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            },
            "text": "Scottish Enterprise classifies its financial liabilities on initial recognition as other financial liabilities."
        },
        {
            "id": "p138.10",
            "order": 10,
            "type": "text",
            "bbox": {
                "l": 38.8722,
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                "b": 386.88
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            "text": "Other financial liabilities are included in current liabilities, except for maturities greater than 12 months after the date of the Statement of Financial Position. These are classified as non-current liabilities. Scottish Enterprise's other financial liabilities comprise trade and other payables in the Statement of Financial Position."
        },
        {
            "id": "p138.11",
            "order": 11,
            "type": "heading",
            "bbox": {
                "l": 40.0719,
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                "b": 348.96
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            "text": "Recognition and measurement",
            "attrs": {
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            "level": 3
        },
        {
            "id": "p138.12",
            "order": 12,
            "type": "text",
            "bbox": {
                "l": 39.3521,
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                "r": 500.5391,
                "b": 304.32
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            "text": "Financial liabilities are recognised when Scottish Enterprise becomes party to the contractual provisions of the financial instrument."
        },
        {
            "id": "p138.13",
            "order": 13,
            "type": "text",
            "bbox": {
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                "b": 258
            },
            "text": "A financial liability is removed from the Statement of Financial Position when it is extinguished, that is when the obligation is discharged, cancelled, or expired."
        },
        {
            "id": "p138.14",
            "order": 14,
            "type": "text",
            "bbox": {
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            "text": "Other financial liabilities are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method."
        },
        {
            "id": "p138.15",
            "order": 15,
            "type": "heading",
            "bbox": {
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            "text": "19. Provisions",
            "attrs": {
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            "level": 3
        },
        {
            "id": "p138.16",
            "order": 16,
            "type": "text",
            "bbox": {
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                "b": 100.08
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            "text": "Provisions are recognised when: the Group has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount has been reliably estimated."
        },
        {
            "id": "p138.17",
            "order": 17,
            "type": "text",
            "bbox": {
                "l": 39.1121,
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            "text": "Where there are several similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision"
        }
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        "first": [],
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Page 139

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            "text": "is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small."
        },
        {
            "id": "p139.5",
            "order": 5,
            "type": "text",
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            "text": "Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax interest rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense."
        },
        {
            "id": "p139.6",
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            "type": "heading",
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            "text": "20. Contingent Liabilities",
            "attrs": {
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            "level": 3
        },
        {
            "id": "p139.7",
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            "text": "A contingent liability is a possible liability whose existence will only be confirmed by uncertain future events that are not wholly under the control of Scottish Enterprise. A contingent liability is disclosed in the notes to the accounts unless the prospect of having to settle such a liability in the future should its existence be confirmed is considered by Scottish Enterprise to be remote. If it is probable that Scottish Enterprise will be required to settle the liability then a provision is recognised in the Statement of Financial Position, as noted above."
        },
        {
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            "type": "heading",
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            "text": "21. Critical Accounting Estimates and Judgements",
            "attrs": {
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            "level": 3
        },
        {
            "id": "p139.9",
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            "text": "The preparation of the accounts in conformity with IFRS requires the Board and Accountable Officer to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amount of assets, liabilities, income, and expenses. Actual results may differ from these estimates."
        },
        {
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            "text": "Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. With the exception of the Retirement benefit scheme, sensitivity analysis has not been disclosed where management considers that reasonably possible changes in key assumptions would not result in a material impact on the financial statements, or where the inherent estimation uncertainty cannot be reliably quantified on a discrete basis."
        },
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            "id": "p139.11",
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            "text": "Information about critical judgements in applying accounting policies that have the most significant effects on the amounts recognised in the accounts is as follows:"
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Page 140

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        {
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            "type": "header",
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            "level": 2
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            "id": "p140.4",
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            "text": "Retirement benefit scheme",
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            "level": 3
        },
        {
            "id": "p140.5",
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            "type": "heading",
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            "text": "Judgements",
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            "text": "The Group exercises judgement when applying accounting policies and standards relevant to employee benefits. Scottish Enterprise operates the Scottish Enterprise Pension & Life Assurance Scheme for colleagues which provides benefits in the form of a guaranteed level of pension payable for life and a judgement has been made to account for this on a defined benefit basis under IAS 19 Employee Benefits. This judgement arises from the Group's obligations to make pension contributions which are independently determined by an actuary, on the basis of triennial valuations."
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            "text": "IAS 19 limits the measurement of a net defined benefit asset to the lower of the surplus in the defined benefit plan and the asset ceiling, defined as the present value of economic benefits available in the form of refunds from the plan or reductions in future contributions to the plan. The Group has made the judgement, after reviewing the scheme's Trust Deed, that it has an unconditional right to refund of surplus on wind-up of the scheme and as a result recognises the full surplus in the scheme."
        },
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            "type": "heading",
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            "text": "Estimates",
            "attrs": {
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            "level": 3
        },
        {
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            "text": "The present value of the retirement benefit obligations depends on a number of factors that are determined on an actuarial basis using a number of assumptions. The assumptions used in determining the net cost or income for pensions include the discount rate. Any changes in these assumptions will impact the carrying amount of retirement benefit obligations."
        },
        {
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            "text": "The Group determines the appropriate discount rate at the end of each year. This is the interest rate that should be used to determine the present value of estimated future cash outflows expected to be required to settle the retirement benefit obligations. In determining the appropriate discount rate, the Group considers the interest rates of high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating the terms of the related retirement benefit obligations."
        },
        {
            "id": "p140.11",
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            "text": "The Group also determines the appropriate rate for salary inflation based on consideration of inflation and long-term assumptions in respect of salary increases."
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            "text": "Other key assumptions for retirement benefit obligations are based in part on current market conditions. Additional information is disclosed in Note 11, which includes a table setting out the potential sensitivity of change in assumptions of the retirement benefit obligation. A firm of consulting actuaries is engaged to provide the Group with expert advice about the assumptions to be applied."
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Page 141

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            "text": "The Group commissions a valuation of land and buildings held for industrial and commercial use biannually which is carried out by a firm of professional valuers."
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            "text": "The valuation report has been used to inform the measurement of assets in these financial statements. The valuever exercises professional judgement in preparing the valuation and therefore, this is the best information available to the Group at 31 March 2026 and can be relied upon."
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            "text": "Details of valuation techniques used to determine fair value of land and buildings, including information on key unobservable inputs and the relationship between unobservable inputs to fair value that have been applied, are given in Note 10."
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            "text": "The fair value of financial instruments that are not traded in an active market is determined by using judgement and assumptions that are mainly based on external market conditions existing at the date of each Statement of Financial Position. The valuations are carried out internally and the group follows the International Private Equity and Venture Capital Valuation (“IPEV”) Guidance when determining fair value."
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            "text": "when financial asset held at amortised cost is impaired. This determination requires significant judgement. In making this judgement, the Group evaluates, among other factors, the duration and extent to which the fair value of an investment is less than its cost; and the financial health of and short- term business outlook for the investee, including factors such as industry and sector performance, changes in technology and operational and financing cash flow."
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                    "text": "Stage 1, where the credit risk has not increased significantly then a loss allowance equal to a 12 month expected credit loss is recognised by (i) reviewing loans with shared risk characteristics and (ii) applying a probability assessment of a loss default within 12 months;"
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                    "text": "Stage 3, where an asset is considered to be credit impaired because of past due status and other events that have a detrimental effect on future cash flows an impairment allowance is recognised."
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            "text": "SECTION CONTENTS PAGE\n1 Expenditure 145\n2 Income 146\n3 Segmental Reporting 147\n4 Taxation 148\n5 Property, Plant and Equipment 149\n6 Right of Use Assets 153\n7 Intangible Assets 155\n8 Equity Accounted Investees 159\n9 Financial Assets – Other Investments 160\n10 Fair Value Measurements 161\n11 Retirement Benefit Scheme 171\n12 Other Non-Current Receivables 176\n13 Lease Receivables 176\n14 Assets Classified as Held for Sale 177\n15 Inventories 178\n16 Trade and Other Receivables 178\n17 Cash and Cash Equivalents 179\n18 Trade and Other Payables 180\n19 Provisions 182\n20 Lease Liabilities 184\n21 Commitments 185\n22 Contingent Liabilities 186\n23 Financial Instruments 187\n24 Related Party Transactions 194\n25 Board Members Interests 196\n26 Schedules of Investments at 31 March 2026 197",
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                    "text": "146",
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                {
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                {
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                    "text": "147",
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                {
                    "id": "p144.6.10",
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                    "text": "148",
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                {
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                {
                    "id": "p144.6.14",
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                    "text": "149",
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                {
                    "id": "p144.6.16",
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                {
                    "id": "p144.6.17",
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                {
                    "id": "p144.6.18",
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                    "bbox": {
                        "l": 533.5,
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                    "text": "153",
                    "attrs": {
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                },
                {
                    "id": "p144.6.19",
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                    "text": "7",
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                {
                    "id": "p144.6.20",
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                },
                {
                    "id": "p144.6.21",
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                    "bbox": {
                        "l": 533.51,
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                    "text": "155",
                    "attrs": {
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                },
                {
                    "id": "p144.6.22",
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                    "bbox": {
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                    "text": "8",
                    "attrs": {
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                },
                {
                    "id": "p144.6.23",
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                },
                {
                    "id": "p144.6.24",
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                    "bbox": {
                        "l": 533.12,
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                    "text": "159",
                    "attrs": {
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                },
                {
                    "id": "p144.6.25",
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                    "text": "9",
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                {
                    "id": "p144.6.26",
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                {
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                    "text": "160",
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                {
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                {
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                {
                    "id": "p144.6.30",
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                    "text": "161",
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                {
                    "id": "p144.6.31",
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                {
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                    "text": "171",
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                {
                    "id": "p144.6.34",
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                    "text": "12",
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                },
                {
                    "id": "p144.6.35",
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                {
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                    "text": "176",
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                },
                {
                    "id": "p144.6.37",
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                    "text": "13",
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                {
                    "id": "p144.6.38",
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                },
                {
                    "id": "p144.6.39",
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                    "text": "176",
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                },
                {
                    "id": "p144.6.40",
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                {
                    "id": "p144.6.41",
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                {
                    "id": "p144.6.42",
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                    "text": "177",
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                },
                {
                    "id": "p144.6.43",
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                    "text": "15",
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                },
                {
                    "id": "p144.6.44",
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                {
                    "id": "p144.6.45",
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                    "text": "178",
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                },
                {
                    "id": "p144.6.46",
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                    "text": "16",
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                },
                {
                    "id": "p144.6.47",
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                {
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                    "text": "178",
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                {
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                    "text": "17",
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                {
                    "id": "p144.6.50",
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                {
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                    "text": "179",
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                {
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                    "text": "18",
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                },
                {
                    "id": "p144.6.53",
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                    "text": "Trade and Other Payables",
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                {
                    "id": "p144.6.54",
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                    "text": "180",
                    "attrs": {
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                {
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                    "text": "19",
                    "attrs": {
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                },
                {
                    "id": "p144.6.56",
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                    "type": "link",
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                    "text": "Provisions",
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                {
                    "id": "p144.6.57",
                    "order": 63,
                    "type": "link",
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                    "text": "182",
                    "attrs": {
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                },
                {
                    "id": "p144.6.58",
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                    "text": "20",
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                },
                {
                    "id": "p144.6.59",
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                    "text": "Lease Liabilities",
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                },
                {
                    "id": "p144.6.60",
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                    "text": "184",
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                },
                {
                    "id": "p144.6.61",
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                    "text": "21",
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                },
                {
                    "id": "p144.6.62",
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                    "text": "185",
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                {
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                {
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                },
                {
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Page 145

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Page 146

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1 · HEADER
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                    "text": "Rents\nSundry property income\nSurplus on disposal of property\nInvestment Management",
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                    "text": "Surplus on disposal of investments and equity accounted investees\nTotal Income from Activities\nOther Income",
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                    "text": "European funding\nContributions and other fees\nTotal Other Income\nIncome from Investments",
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                    "text": "214\n17,804\n18,018",
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                    "text": "Interest receivable\nInterest calculated using the effective interest rate method\nTotal Interest Income",
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}

Page 147

61 item(s) JSON
header (3) heading (1) table (1) table_cell (53) text (3)
Page 147
1 · HEADER
2 · HEADER
3 · HEADER
4 · HEADING
5 · TEXT
6 · TEXT
7 · TEXT
8 · TABLE
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
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Page 147 JSON
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            "text": "Notes to the Accounts",
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            "text": "3. Segmental Reporting",
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            "text": "All income and expenditure is attributable to the principal activity of Scottish Enterprise and relates to economic development activity."
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                    "text": "GROUP",
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                    "text": "2026\n£000",
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                    "text": "13,969\n10,336\n23,851\n22,642\n21,738\n144,054\n5,064\n241,654",
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                    "attrs": {
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                    "text": "Management Expenditure",
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}

Page 148

74 item(s) JSON
header (3) heading (1) table (2) table_cell (66) text (2)
Page 148
1 · HEADER
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Page 148 JSON
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Page 149

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Page 149
1 · HEADER
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r1c3 (0%): “Assets Under Construction”
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Page 150

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r1c3 (0%): “Assets Under Construction”
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Page 151

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161 · TEXT
162 · TEXT
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r1c3 (0%): “Assets Under Construction”
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                },
                {
                    "id": "p151.4.65",
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                    "bbox": {
                        "l": 530.04,
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                    "text": "At 31 March 2026\nDepreciation",
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                        "b": 548.4218
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                    "text": "-",
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                },
                {
                    "id": "p151.4.70",
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                    "text": "58",
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                    "text": "904",
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                    "text": "At 1 April 2025",
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                },
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                },
                {
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                {
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                    "text": "58",
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                },
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                    "bbox": {
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                    "text": "16,195",
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                {
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                    "text": "Charge for year",
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                },
                {
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                },
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                    "text": "1,274",
                    "attrs": {
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                },
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                    "bbox": {
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                    "text": "Disposals",
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                },
                {
                    "id": "p151.4.98",
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                    "bbox": {
                        "l": 383.44,
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                },
                {
                    "id": "p151.4.99",
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                    "bbox": {
                        "l": 435.3,
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                },
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                    "bbox": {
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                        "b": 457.80513999999994
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                    "text": "(57)",
                    "attrs": {
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                        "col": 7,
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                    }
                },
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                    "bbox": {
                        "l": 523.14,
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                    "text": "(1,638)",
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                    "text": "Revaluation",
                    "attrs": {
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                },
                {
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                },
                {
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                    "text": "(1,152)",
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                },
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                },
                {
                    "id": "p151.4.106",
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                },
                {
                    "id": "p151.4.107",
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                    "bbox": {
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                    "text": "-",
                    "attrs": {
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                },
                {
                    "id": "p151.4.108",
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                    "bbox": {
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                    "attrs": {
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                },
                {
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                },
                {
                    "id": "p151.4.110",
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                    "bbox": {
                        "l": 526.26,
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                    "text": "(1,152)",
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                        "rowspan": 1,
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                },
                {
                    "id": "p151.4.111",
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                    "bbox": {
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                    "text": "At 31 March 2026\nNet book value",
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                        "rowspan": 1,
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                },
                {
                    "id": "p151.4.113",
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                },
                {
                    "id": "p151.4.114",
                    "order": 118,
                    "type": "table_cell",
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                    "text": "-",
                    "attrs": {
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                },
                {
                    "id": "p151.4.115",
                    "order": 119,
                    "type": "table_cell",
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}

Page 152

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Table integrity: 1 of 108 cells don't match the text layer at their coordinates.
r1c3 (0%): “Assets Under Construction”
Page 152 JSON
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Page 153

105 item(s) JSON
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Page 153
1 · HEADER
2 · HEADER
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5 · TABLE
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                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p153.5.40",
                    "order": 45,
                    "type": "table_cell",
                    "bbox": {
                        "l": 308.26,
                        "t": 592.0785999999999,
                        "r": 324.72286,
                        "b": 580.3251399999999
                    },
                    "text": "(37)",
                    "attrs": {
                        "row": 6,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p153.5.41",
                    "order": 46,
                    "type": "table_cell",
                    "bbox": {
                        "l": 366.52,
                        "t": 592.0785999999999,
                        "r": 381.32956,
                        "b": 580.3251399999999
                    },
                    "text": "(41)",
                    "attrs": {
                        "row": 6,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p153.5.42",
                    "order": 47,
                    "type": "table_cell",
                    "bbox": {
                        "l": 426.9,
                        "t": 592.0785999999999,
                        "r": 438.1161,
                        "b": 580.3251399999999
                    },
                    "text": "(4)",
                    "attrs": {
                        "row": 6,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p153.5.43",
                    "order": 48,
                    "type": "table_cell",
                    "bbox": {
                        "l": 407.9864,
                        "t": 598.7564,
                        "r": 481.6172,
                        "b": 582.2291
                    },
                    "text": "-",
                    "attrs": {
                        "row": 6,
                        "col": 5,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p153.5.44",
                    "order": 49,
                    "type": "table_cell",
                    "bbox": {
                        "l": 540.36,
                        "t": 592.0785999999999,
                        "r": 551.5761,
                        "b": 580.3251399999999
                    },
                    "text": "(4)",
                    "attrs": {
                        "row": 6,
                        "col": 6,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p153.5.45",
                    "order": 50,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 577.0785999999999,
                        "r": 128.48222,
                        "b": 530.94514
                    },
                    "text": "Remeasurement\nAt 31 March 2026\nDepreciation",
                    "attrs": {
                        "row": 7,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p153.5.46",
                    "order": 51,
                    "type": "table_cell",
                    "bbox": {
                        "l": 243.04,
                        "t": 577.0785999999999,
                        "r": 268.3015,
                        "b": 550.26514
                    },
                    "text": "4,091\n11,187",
                    "attrs": {
                        "row": 7,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p153.5.47",
                    "order": 52,
                    "type": "table_cell",
                    "bbox": {
                        "l": 308.14,
                        "t": 577.0785999999999,
                        "r": 324.75316,
                        "b": 550.26514
                    },
                    "text": "9\n100",
                    "attrs": {
                        "row": 7,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p153.5.48",
                    "order": 53,
                    "type": "table_cell",
                    "bbox": {
                        "l": 353.14,
                        "t": 577.0785999999999,
                        "r": 381.40642,
                        "b": 550.26514
                    },
                    "text": "4,100\n11,287",
                    "attrs": {
                        "row": 7,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p153.5.49",
                    "order": 54,
                    "type": "table_cell",
                    "bbox": {
                        "l": 412.86,
                        "t": 577.0785999999999,
                        "r": 438.12186,
                        "b": 550.26514
                    },
                    "text": "4,059\n9,183",
                    "attrs": {
                        "row": 7,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p153.5.50",
                    "order": 55,
                    "type": "table_cell",
                    "bbox": {
                        "l": 478.2,
                        "t": 577.0785999999999,
                        "r": 494.81316,
                        "b": 550.26514
                    },
                    "text": "8\n100",
                    "attrs": {
                        "row": 7,
                        "col": 5,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p153.5.51",
                    "order": 56,
                    "type": "table_cell",
                    "bbox": {
                        "l": 525,
                        "t": 577.0785999999999,
                        "r": 551.57304,
                        "b": 550.26514
                    },
                    "text": "4,067\n9,283",
                    "attrs": {
                        "row": 7,
                        "col": 6,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p153.5.52",
                    "order": 57,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 527.6985999999999,
                        "r": 114.64116,
                        "b": 500.88514
                    },
                    "text": "At 1 April 2025\nCharge for year",
                    "attrs": {
                        "row": 8,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p153.5.53",
                    "order": 58,
                    "type": "table_cell",
                    "bbox": {
                        "l": 247.48,
                        "t": 527.6985999999999,
                        "r": 268.021,
                        "b": 500.88514
                    },
                    "text": "5,118\n1,615",
                    "attrs": {
                        "row": 8,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p153.5.54",
                    "order": 59,
                    "type": "table_cell",
                    "bbox": {
                        "l": 309.46,
                        "t": 527.6985999999999,
                        "r": 324.72214,
                        "b": 500.88514
                    },
                    "text": "102\n30",
                    "attrs": {
                        "row": 8,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p153.5.55",
                    "order": 60,
                    "type": "table_cell",
                    "bbox": {
                        "l": 356.26,
                        "t": 527.6985999999999,
                        "r": 381.4102,
                        "b": 500.88514
                    },
                    "text": "5,220\n1,645",
                    "attrs": {
                        "row": 8,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p153.5.56",
                    "order": 61,
                    "type": "table_cell",
                    "bbox": {
                        "l": 413.1,
                        "t": 527.6985999999999,
                        "r": 438.10992,
                        "b": 500.88514
                    },
                    "text": "3,650\n1,116",
                    "attrs": {
                        "row": 8,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p153.5.57",
                    "order": 62,
                    "type": "table_cell",
                    "bbox": {
                        "l": 483.48,
                        "t": 527.6985999999999,
                        "r": 494.81082,
                        "b": 500.88514
                    },
                    "text": "83\n12",
                    "attrs": {
                        "row": 8,
                        "col": 5,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p153.5.58",
                    "order": 63,
                    "type": "table_cell",
                    "bbox": {
                        "l": 528.18,
                        "t": 527.6985999999999,
                        "r": 551.56668,
                        "b": 500.88514
                    },
                    "text": "3,733\n1,128",
                    "attrs": {
                        "row": 8,
                        "col": 6,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p153.5.59",
                    "order": 64,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 497.63859999999994,
                        "r": 121.26438,
                        "b": 485.88514
                    },
                    "text": "Remeasurement",
                    "attrs": {
                        "row": 9,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p153.5.60",
                    "order": 65,
                    "type": "table_cell",
                    "bbox": {
                        "l": 113.4629,
                        "t": 499.5927,
                        "r": 187.0937,
                        "b": 483.0655
                    },
                    "text": "-",
                    "attrs": {
                        "row": 9,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p153.5.61",
                    "order": 66,
                    "type": "table_cell",
                    "bbox": {
                        "l": 187.0937,
                        "t": 499.5927,
                        "r": 260.7246,
                        "b": 483.0655
                    },
                    "text": "-",
                    "attrs": {
                        "row": 9,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p153.5.62",
                    "order": 67,
                    "type": "table_cell",
                    "bbox": {
                        "l": 260.7246,
                        "t": 499.5927,
                        "r": 334.3555,
                        "b": 483.0655
                    },
                    "text": "-",
                    "attrs": {
                        "row": 9,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p153.5.63",
                    "order": 68,
                    "type": "table_cell",
                    "bbox": {
                        "l": 334.3555,
                        "t": 499.5927,
                        "r": 407.9864,
                        "b": 483.0655
                    },
                    "text": "-",
                    "attrs": {
                        "row": 9,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p153.5.64",
                    "order": 69,
                    "type": "table_cell",
                    "bbox": {
                        "l": 407.9864,
                        "t": 499.5927,
                        "r": 481.6172,
                        "b": 483.0655
                    },
                    "text": "-",
                    "attrs": {
                        "row": 9,
                        "col": 5,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p153.5.65",
                    "order": 70,
                    "type": "table_cell",
                    "bbox": {
                        "l": 481.6172,
                        "t": 499.5927,
                        "r": 555.2481,
                        "b": 483.0655
                    },
                    "text": "-",
                    "attrs": {
                        "row": 9,
                        "col": 6,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p153.5.66",
                    "order": 71,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 482.57859999999994,
                        "r": 88.509,
                        "b": 470.82514
                    },
                    "text": "Disposals",
                    "attrs": {
                        "row": 10,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p153.5.67",
                    "order": 72,
                    "type": "table_cell",
                    "bbox": {
                        "l": 256.84,
                        "t": 482.57859999999994,
                        "r": 268.0561,
                        "b": 470.82514
                    },
                    "text": "(4)",
                    "attrs": {
                        "row": 10,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p153.5.68",
                    "order": 73,
                    "type": "table_cell",
                    "bbox": {
                        "l": 308.26,
                        "t": 482.57859999999994,
                        "r": 324.72286,
                        "b": 470.82514
                    },
                    "text": "(37)",
                    "attrs": {
                        "row": 10,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p153.5.69",
                    "order": 74,
                    "type": "table_cell",
                    "bbox": {
                        "l": 366.52,
                        "t": 482.57859999999994,
                        "r": 381.32956,
                        "b": 470.82514
                    },
                    "text": "(41)",
                    "attrs": {
                        "row": 10,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p153.5.70",
                    "order": 75,
                    "type": "table_cell",
                    "bbox": {
                        "l": 426.9,
                        "t": 482.57859999999994,
                        "r": 438.1161,
                        "b": 470.82514
                    },
                    "text": "(4)",
                    "attrs": {
                        "row": 10,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p153.5.71",
                    "order": 76,
                    "type": "table_cell",
                    "bbox": {
                        "l": 407.9864,
                        "t": 483.0655,
                        "r": 481.6172,
                        "b": 466.5382
                    },
                    "text": "-",
                    "attrs": {
                        "row": 10,
                        "col": 5,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p153.5.72",
                    "order": 77,
                    "type": "table_cell",
                    "bbox": {
                        "l": 540.36,
                        "t": 482.57859999999994,
                        "r": 551.5761,
                        "b": 470.82514
                    },
                    "text": "(4)",
                    "attrs": {
                        "row": 10,
                        "col": 6,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p153.5.73",
                    "order": 78,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 467.57859999999994,
                        "r": 128.48222,
                        "b": 436.44514
                    },
                    "text": "At 31 March 2026\nCarrying Amount",
                    "attrs": {
                        "row": 11,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p153.5.74",
                    "order": 79,
                    "type": "table_cell",
                    "bbox": {
                        "l": 242.26,
                        "t": 467.57859999999994,
                        "r": 268.00138,
                        "b": 455.82514
                    },
                    "text": "6,729",
                    "attrs": {
                        "row": 11,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p153.5.75",
                    "order": 80,
                    "type": "table_cell",
                    "bbox": {
                        "l": 312.76,
                        "t": 467.57859999999994,
                        "r": 324.77164,
                        "b": 455.82514
                    },
                    "text": "95",
                    "attrs": {
                        "row": 11,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p153.5.76",
                    "order": 81,
                    "type": "table_cell",
                    "bbox": {
                        "l": 354.46,
                        "t": 467.57859999999994,
                        "r": 381.39376,
                        "b": 455.82514
                    },
                    "text": "6,824",
                    "attrs": {
                        "row": 11,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p153.5.77",
                    "order": 82,
                    "type": "table_cell",
                    "bbox": {
                        "l": 412.62,
                        "t": 467.57859999999994,
                        "r": 438.0708,
                        "b": 455.82514
                    },
                    "text": "4,762",
                    "attrs": {
                        "row": 11,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p153.5.78",
                    "order": 83,
                    "type": "table_cell",
                    "bbox": {
                        "l": 482.82,
                        "t": 467.57859999999994,
                        "r": 494.83164,
                        "b": 455.82514
                    },
                    "text": "95",
                    "attrs": {
                        "row": 11,
                        "col": 5,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p153.5.79",
                    "order": 84,
                    "type": "table_cell",
                    "bbox": {
                        "l": 525,
                        "t": 467.57859999999994,
                        "r": 551.58306,
                        "b": 455.82514
                    },
                    "text": "4,857",
                    "attrs": {
                        "row": 11,
                        "col": 6,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p153.5.80",
                    "order": 85,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 433.17859999999996,
                        "r": 128.48222,
                        "b": 382.78513999999996
                    },
                    "text": "At 31 March 2026\nAt 31 March 2025\nAsset financing:",
                    "attrs": {
                        "row": 12,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p153.5.81",
                    "order": 86,
                    "type": "table_cell",
                    "bbox": {
                        "l": 241,
                        "t": 433.17859999999996,
                        "r": 268.06996,
                        "b": 402.10513999999995
                    },
                    "text": "4,458\n1,982",
                    "attrs": {
                        "row": 12,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p153.5.82",
                    "order": 87,
                    "type": "table_cell",
                    "bbox": {
                        "l": 312.7,
                        "t": 433.17859999999996,
                        "r": 324.71164,
                        "b": 402.10513999999995
                    },
                    "text": "5\n26",
                    "attrs": {
                        "row": 12,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p153.5.83",
                    "order": 88,
                    "type": "table_cell",
                    "bbox": {
                        "l": 354.22,
                        "t": 433.17859999999996,
                        "r": 381.40426,
                        "b": 402.10513999999995
                    },
                    "text": "4,463\n2,008",
                    "attrs": {
                        "row": 12,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p153.5.84",
                    "order": 89,
                    "type": "table_cell",
                    "bbox": {
                        "l": 413.22,
                        "t": 433.17859999999996,
                        "r": 438.14832,
                        "b": 402.10513999999995
                    },
                    "text": "4,421\n1,478",
                    "attrs": {
                        "row": 12,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p153.5.85",
                    "order": 90,
                    "type": "table_cell",
                    "bbox": {
                        "l": 488.58,
                        "t": 433.17859999999996,
                        "r": 494.77164,
                        "b": 402.10513999999995
                    },
                    "text": "5\n9",
                    "attrs": {
                        "row": 12,
                        "col": 5,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p153.5.86",
                    "order": 91,
                    "type": "table_cell",
                    "bbox": {
                        "l": 524.58,
                        "t": 433.17859999999996,
                        "r": 551.58888,
                        "b": 402.10513999999995
                    },
                    "text": "4,426\n1,487",
                    "attrs": {
                        "row": 12,
                        "col": 6,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p153.5.87",
                    "order": 92,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 379.4786,
                        "r": 76.94592,
                        "b": 367.72513999999995
                    },
                    "text": "Owned",
                    "attrs": {
                        "row": 13,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p153.5.88",
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Page 154

105 item(s) JSON
header (3) table (1) table_cell (101)
Page 154
1 · HEADER
2 · HEADER
3 · HEADER
4 · TABLE
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Table integrity: 2 of 76 cells don't match the text layer at their coordinates.
r1c2 (0%): “Non-Property”
r1c5 (0%): “Non-Property”
Page 154 JSON
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                    "bbox": {
                        "l": 406.8551,
                        "t": 663.0873,
                        "r": 480.2118,
                        "b": 646.7127
                    },
                    "text": "-",
                    "attrs": {
                        "row": 5,
                        "col": 5,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p154.4.31",
                    "order": 35,
                    "type": "table_cell",
                    "bbox": {
                        "l": 480.2118,
                        "t": 663.0873,
                        "r": 553.5684,
                        "b": 646.7127
                    },
                    "text": "-",
                    "attrs": {
                        "row": 5,
                        "col": 6,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p154.4.32",
                    "order": 36,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 641.7586,
                        "r": 88.509,
                        "b": 630.00514
                    },
                    "text": "Disposals",
                    "attrs": {
                        "row": 6,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p154.4.33",
                    "order": 37,
                    "type": "table_cell",
                    "bbox": {
                        "l": 249.4,
                        "t": 641.7586,
                        "r": 267.9961,
                        "b": 630.00514
                    },
                    "text": "(115)",
                    "attrs": {
                        "row": 6,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p154.4.34",
                    "order": 38,
                    "type": "table_cell",
                    "bbox": {
                        "l": 186.7852,
                        "t": 646.7127,
                        "r": 260.1418,
                        "b": 630.3382
                    },
                    "text": "-",
                    "attrs": {
                        "row": 6,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p154.4.35",
                    "order": 39,
                    "type": "table_cell",
                    "bbox": {
                        "l": 362.74,
                        "t": 641.7586,
                        "r": 381.3361,
                        "b": 630.00514
                    },
                    "text": "(115)",
                    "attrs": {
                        "row": 6,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p154.4.36",
                    "order": 40,
                    "type": "table_cell",
                    "bbox": {
                        "l": 419.46,
                        "t": 641.7586,
                        "r": 438.0561,
                        "b": 630.00514
                    },
                    "text": "(115)",
                    "attrs": {
                        "row": 6,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p154.4.37",
                    "order": 41,
                    "type": "table_cell",
                    "bbox": {
                        "l": 406.8551,
                        "t": 646.7127,
                        "r": 480.2118,
                        "b": 630.3382
                    },
                    "text": "-",
                    "attrs": {
                        "row": 6,
                        "col": 5,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p154.4.38",
                    "order": 42,
                    "type": "table_cell",
                    "bbox": {
                        "l": 532.92,
                        "t": 641.7586,
                        "r": 551.5161,
                        "b": 630.00514
                    },
                    "text": "(115)",
                    "attrs": {
                        "row": 6,
                        "col": 6,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p154.4.39",
                    "order": 43,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 626.7586,
                        "r": 121.26438,
                        "b": 615.00514
                    },
                    "text": "Remeasurement",
                    "attrs": {
                        "row": 7,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p154.4.40",
                    "order": 44,
                    "type": "table_cell",
                    "bbox": {
                        "l": 251.2,
                        "t": 626.7586,
                        "r": 267.9961,
                        "b": 615.00514
                    },
                    "text": "(24)",
                    "attrs": {
                        "row": 7,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p154.4.41",
                    "order": 45,
                    "type": "table_cell",
                    "bbox": {
                        "l": 186.7852,
                        "t": 630.3382,
                        "r": 260.1418,
                        "b": 613.9636
                    },
                    "text": "-",
                    "attrs": {
                        "row": 7,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p154.4.42",
                    "order": 46,
                    "type": "table_cell",
                    "bbox": {
                        "l": 364.54,
                        "t": 626.7586,
                        "r": 381.3361,
                        "b": 615.00514
                    },
                    "text": "(24)",
                    "attrs": {
                        "row": 7,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p154.4.43",
                    "order": 47,
                    "type": "table_cell",
                    "bbox": {
                        "l": 421.26,
                        "t": 626.7586,
                        "r": 438.0561,
                        "b": 615.00514
                    },
                    "text": "(24)",
                    "attrs": {
                        "row": 7,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p154.4.44",
                    "order": 48,
                    "type": "table_cell",
                    "bbox": {
                        "l": 406.8551,
                        "t": 630.3382,
                        "r": 480.2118,
                        "b": 613.9636
                    },
                    "text": "-",
                    "attrs": {
                        "row": 7,
                        "col": 5,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p154.4.45",
                    "order": 49,
                    "type": "table_cell",
                    "bbox": {
                        "l": 534.72,
                        "t": 626.7586,
                        "r": 551.5161,
                        "b": 615.00514
                    },
                    "text": "(24)",
                    "attrs": {
                        "row": 7,
                        "col": 6,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p154.4.46",
                    "order": 50,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 611.6985999999999,
                        "r": 128.19164,
                        "b": 580.6251399999999
                    },
                    "text": "At 31 March 2025\nDepreciation",
                    "attrs": {
                        "row": 8,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p154.4.47",
                    "order": 51,
                    "type": "table_cell",
                    "bbox": {
                        "l": 245.08,
                        "t": 611.6985999999999,
                        "r": 268.05316,
                        "b": 599.9451399999999
                    },
                    "text": "7,100",
                    "attrs": {
                        "row": 8,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p154.4.48",
                    "order": 52,
                    "type": "table_cell",
                    "bbox": {
                        "l": 308.62,
                        "t": 611.6985999999999,
                        "r": 324.71608,
                        "b": 599.9451399999999
                    },
                    "text": "128",
                    "attrs": {
                        "row": 8,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p154.4.49",
                    "order": 53,
                    "type": "table_cell",
                    "bbox": {
                        "l": 355.96,
                        "t": 611.6985999999999,
                        "r": 381.40132,
                        "b": 599.9451399999999
                    },
                    "text": "7,228",
                    "attrs": {
                        "row": 8,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p154.4.50",
                    "order": 54,
                    "type": "table_cell",
                    "bbox": {
                        "l": 414.54,
                        "t": 611.6985999999999,
                        "r": 438.09702,
                        "b": 599.9451399999999
                    },
                    "text": "5,128",
                    "attrs": {
                        "row": 8,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p154.4.51",
                    "order": 55,
                    "type": "table_cell",
                    "bbox": {
                        "l": 482.7,
                        "t": 611.6985999999999,
                        "r": 494.76174,
                        "b": 599.9451399999999
                    },
                    "text": "92",
                    "attrs": {
                        "row": 8,
                        "col": 5,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p154.4.52",
                    "order": 56,
                    "type": "table_cell",
                    "bbox": {
                        "l": 524.94,
                        "t": 611.6985999999999,
                        "r": 551.57256,
                        "b": 599.9451399999999
                    },
                    "text": "5,220",
                    "attrs": {
                        "row": 8,
                        "col": 6,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p154.4.53",
                    "order": 57,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 577.3186,
                        "r": 114.64116,
                        "b": 550.5651399999999
                    },
                    "text": "At 1 April 2024\nCharge for year",
                    "attrs": {
                        "row": 9,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p154.4.54",
                    "order": 58,
                    "type": "table_cell",
                    "bbox": {
                        "l": 243.52,
                        "t": 577.3186,
                        "r": 268.0717,
                        "b": 550.5651399999999
                    },
                    "text": "3,552\n1,681",
                    "attrs": {
                        "row": 9,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p154.4.55",
                    "order": 59,
                    "type": "table_cell",
                    "bbox": {
                        "l": 312.7,
                        "t": 577.3186,
                        "r": 324.7312,
                        "b": 550.5651399999999
                    },
                    "text": "80\n22",
                    "attrs": {
                        "row": 9,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p154.4.56",
                    "order": 60,
                    "type": "table_cell",
                    "bbox": {
                        "l": 356.92,
                        "t": 577.3186,
                        "r": 381.39334,
                        "b": 550.5651399999999
                    },
                    "text": "3,632\n1,703",
                    "attrs": {
                        "row": 9,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p154.4.57",
                    "order": 61,
                    "type": "table_cell",
                    "bbox": {
                        "l": 413.7,
                        "t": 577.3186,
                        "r": 438.1017,
                        "b": 550.5651399999999
                    },
                    "text": "2,587\n1,178",
                    "attrs": {
                        "row": 9,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p154.4.58",
                    "order": 62,
                    "type": "table_cell",
                    "bbox": {
                        "l": 483.06,
                        "t": 577.3186,
                        "r": 494.80178,
                        "b": 550.5651399999999
                    },
                    "text": "68\n15",
                    "attrs": {
                        "row": 9,
                        "col": 5,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p154.4.59",
                    "order": 63,
                    "type": "table_cell",
                    "bbox": {
                        "l": 526.92,
                        "t": 577.3186,
                        "r": 551.54916,
                        "b": 550.5651399999999
                    },
                    "text": "2,655\n1,193",
                    "attrs": {
                        "row": 9,
                        "col": 6,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p154.4.60",
                    "order": 64,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 547.2585999999999,
                        "r": 121.26438,
                        "b": 535.50514
                    },
                    "text": "Remeasurement",
                    "attrs": {
                        "row": 10,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p154.4.61",
                    "order": 65,
                    "type": "table_cell",
                    "bbox": {
                        "l": 113.4285,
                        "t": 548.4655,
                        "r": 186.7852,
                        "b": 532.0909
                    },
                    "text": "-",
                    "attrs": {
                        "row": 10,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p154.4.62",
                    "order": 66,
                    "type": "table_cell",
                    "bbox": {
                        "l": 186.7852,
                        "t": 548.4655,
                        "r": 260.1418,
                        "b": 532.0909
                    },
                    "text": "-",
                    "attrs": {
                        "row": 10,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p154.4.63",
                    "order": 67,
                    "type": "table_cell",
                    "bbox": {
                        "l": 260.1418,
                        "t": 548.4655,
                        "r": 333.4985,
                        "b": 532.0909
                    },
                    "text": "-",
                    "attrs": {
                        "row": 10,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p154.4.64",
                    "order": 68,
                    "type": "table_cell",
                    "bbox": {
                        "l": 333.4985,
                        "t": 548.4655,
                        "r": 406.8551,
                        "b": 532.0909
                    },
                    "text": "-",
                    "attrs": {
                        "row": 10,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p154.4.65",
                    "order": 69,
                    "type": "table_cell",
                    "bbox": {
                        "l": 406.8551,
                        "t": 548.4655,
                        "r": 480.2118,
                        "b": 532.0909
                    },
                    "text": "-",
                    "attrs": {
                        "row": 10,
                        "col": 5,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p154.4.66",
                    "order": 70,
                    "type": "table_cell",
                    "bbox": {
                        "l": 480.2118,
                        "t": 548.4655,
                        "r": 553.5684,
                        "b": 532.0909
                    },
                    "text": "-",
                    "attrs": {
                        "row": 10,
                        "col": 6,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p154.4.67",
                    "order": 71,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 532.2585999999999,
                        "r": 88.509,
                        "b": 520.50514
                    },
                    "text": "Disposals",
                    "attrs": {
                        "row": 11,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p154.4.68",
                    "order": 72,
                    "type": "table_cell",
                    "bbox": {
                        "l": 249.4,
                        "t": 532.2585999999999,
                        "r": 267.9961,
                        "b": 520.50514
                    },
                    "text": "(115)",
                    "attrs": {
                        "row": 11,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p154.4.69",
                    "order": 73,
                    "type": "table_cell",
                    "bbox": {
                        "l": 186.7852,
                        "t": 532.0909,
                        "r": 260.1418,
                        "b": 515.7164
                    },
                    "text": "-",
                    "attrs": {
                        "row": 11,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p154.4.70",
                    "order": 74,
                    "type": "table_cell",
                    "bbox": {
                        "l": 362.74,
                        "t": 532.2585999999999,
                        "r": 381.3361,
                        "b": 520.50514
                    },
                    "text": "(115)",
                    "attrs": {
                        "row": 11,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p154.4.71",
                    "order": 75,
                    "type": "table_cell",
                    "bbox": {
                        "l": 419.46,
                        "t": 532.2585999999999,
                        "r": 438.0561,
                        "b": 520.50514
                    },
                    "text": "(115)",
                    "attrs": {
                        "row": 11,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p154.4.72",
                    "order": 76,
                    "type": "table_cell",
                    "bbox": {
                        "l": 406.8551,
                        "t": 532.0909,
                        "r": 480.2118,
                        "b": 515.7164
                    },
                    "text": "-",
                    "attrs": {
                        "row": 11,
                        "col": 5,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p154.4.73",
                    "order": 77,
                    "type": "table_cell",
                    "bbox": {
                        "l": 532.92,
                        "t": 532.2585999999999,
                        "r": 551.5161,
                        "b": 520.50514
                    },
                    "text": "(115)",
                    "attrs": {
                        "row": 11,
                        "col": 6,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p154.4.74",
                    "order": 78,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 517.1985999999999,
                        "r": 128.19164,
                        "b": 486.12513999999993
                    },
                    "text": "At 31 March 2025\nCarrying Amount",
                    "attrs": {
                        "row": 12,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p154.4.75",
                    "order": 79,
                    "type": "table_cell",
                    "bbox": {
                        "l": 246.34,
                        "t": 517.1985999999999,
                        "r": 268.04332,
                        "b": 505.44514
                    },
                    "text": "5,118",
                    "attrs": {
                        "row": 12,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p154.4.76",
                    "order": 80,
                    "type": "table_cell",
                    "bbox": {
                        "l": 308.56,
                        "t": 517.1985999999999,
                        "r": 324.76234,
                        "b": 505.44514
                    },
                    "text": "102",
                    "attrs": {
                        "row": 12,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p154.4.77",
                    "order": 81,
                    "type": "table_cell",
                    "bbox": {
                        "l": 354.76,
                        "t": 517.1985999999999,
                        "r": 381.38314,
                        "b": 505.44514
                    },
                    "text": "5,220",
                    "attrs": {
                        "row": 12,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p154.4.78",
                    "order": 82,
                    "type": "table_cell",
                    "bbox": {
                        "l": 411.36,
                        "t": 517.1985999999999,
                        "r": 438.12342,
                        "b": 505.44514
                    },
                    "text": "3,650",
                    "attrs": {
                        "row": 12,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p154.4.79",
                    "order": 83,
                    "type": "table_cell",
                    "bbox": {
                        "l": 482.88,
                        "t": 517.1985999999999,
                        "r": 494.8121,
                        "b": 505.44514
                    },
                    "text": "83",
                    "attrs": {
                        "row": 12,
                        "col": 5,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p154.4.80",
                    "order": 84,
                    "type": "table_cell",
                    "bbox": {
                        "l": 526.44,
                        "t": 517.1985999999999,
                        "r": 551.57016,
                        "b": 505.44514
                    },
                    "text": "3,733",
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Page 155

102 item(s) JSON
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Page 155 JSON
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                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.21",
                    "order": 26,
                    "type": "table_cell",
                    "bbox": {
                        "l": 300.34,
                        "t": 583.6786,
                        "r": 317.65456,
                        "b": 571.9251399999999
                    },
                    "text": "296",
                    "attrs": {
                        "row": 4,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.22",
                    "order": 27,
                    "type": "table_cell",
                    "bbox": {
                        "l": 372.52,
                        "t": 583.6786,
                        "r": 395.6161,
                        "b": 571.9251399999999
                    },
                    "text": "(296)",
                    "attrs": {
                        "row": 4,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.23",
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                    "type": "table_cell",
                    "bbox": {
                        "l": 297.4201,
                        "t": 608.58,
                        "r": 383.3627,
                        "b": 590.808
                    },
                    "text": "-",
                    "attrs": {
                        "row": 4,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p155.5.24",
                    "order": 29,
                    "type": "table_cell",
                    "bbox": {
                        "l": 383.3627,
                        "t": 608.58,
                        "r": 469.3054,
                        "b": 590.808
                    },
                    "text": "-",
                    "attrs": {
                        "row": 4,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p155.5.25",
                    "order": 30,
                    "type": "table_cell",
                    "bbox": {
                        "l": 469.3054,
                        "t": 608.58,
                        "r": 555.2481,
                        "b": 590.808
                    },
                    "text": "-",
                    "attrs": {
                        "row": 4,
                        "col": 5,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p155.5.26",
                    "order": 31,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 568.6186,
                        "r": 88.509,
                        "b": 556.8651399999999
                    },
                    "text": "Disposals",
                    "attrs": {
                        "row": 5,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.27",
                    "order": 32,
                    "type": "table_cell",
                    "bbox": {
                        "l": 300.22,
                        "t": 568.6186,
                        "r": 317.67484,
                        "b": 556.8651399999999
                    },
                    "text": "(99)",
                    "attrs": {
                        "row": 5,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.28",
                    "order": 33,
                    "type": "table_cell",
                    "bbox": {
                        "l": 211.4774,
                        "t": 590.808,
                        "r": 297.4201,
                        "b": 573.036
                    },
                    "text": "-",
                    "attrs": {
                        "row": 5,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p155.5.29",
                    "order": 34,
                    "type": "table_cell",
                    "bbox": {
                        "l": 297.4201,
                        "t": 590.808,
                        "r": 383.3627,
                        "b": 573.036
                    },
                    "text": "-",
                    "attrs": {
                        "row": 5,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p155.5.30",
                    "order": 35,
                    "type": "table_cell",
                    "bbox": {
                        "l": 383.3627,
                        "t": 590.808,
                        "r": 469.3054,
                        "b": 573.036
                    },
                    "text": "-",
                    "attrs": {
                        "row": 5,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p155.5.31",
                    "order": 36,
                    "type": "table_cell",
                    "bbox": {
                        "l": 534.12,
                        "t": 568.6186,
                        "r": 551.57484,
                        "b": 556.8651399999999
                    },
                    "text": "(99)",
                    "attrs": {
                        "row": 5,
                        "col": 5,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.32",
                    "order": 37,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 553.6186,
                        "r": 98.45886,
                        "b": 541.8651399999999
                    },
                    "text": "Impairment",
                    "attrs": {
                        "row": 6,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.33",
                    "order": 38,
                    "type": "table_cell",
                    "bbox": {
                        "l": 125.5347,
                        "t": 573.036,
                        "r": 211.4774,
                        "b": 555.264
                    },
                    "text": "-",
                    "attrs": {
                        "row": 6,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p155.5.34",
                    "order": 39,
                    "type": "table_cell",
                    "bbox": {
                        "l": 374.98,
                        "t": 553.6186,
                        "r": 395.55106,
                        "b": 541.8651399999999
                    },
                    "text": "(138)",
                    "attrs": {
                        "row": 6,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.35",
                    "order": 40,
                    "type": "table_cell",
                    "bbox": {
                        "l": 297.4201,
                        "t": 573.036,
                        "r": 383.3627,
                        "b": 555.264
                    },
                    "text": "-",
                    "attrs": {
                        "row": 6,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p155.5.36",
                    "order": 41,
                    "type": "table_cell",
                    "bbox": {
                        "l": 383.3627,
                        "t": 573.036,
                        "r": 469.3054,
                        "b": 555.264
                    },
                    "text": "-",
                    "attrs": {
                        "row": 6,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p155.5.37",
                    "order": 42,
                    "type": "table_cell",
                    "bbox": {
                        "l": 530.94,
                        "t": 553.6186,
                        "r": 551.51106,
                        "b": 541.8651399999999
                    },
                    "text": "(138)",
                    "attrs": {
                        "row": 6,
                        "col": 5,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.38",
                    "order": 43,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 538.5586,
                        "r": 128.48222,
                        "b": 507.48513999999994
                    },
                    "text": "At 31 March 2026\nAmortisation",
                    "attrs": {
                        "row": 7,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p155.5.39",
                    "order": 44,
                    "type": "table_cell",
                    "bbox": {
                        "l": 290.5,
                        "t": 538.5586,
                        "r": 317.68426,
                        "b": 526.8051399999999
                    },
                    "text": "3,008",
                    "attrs": {
                        "row": 7,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.40",
                    "order": 45,
                    "type": "table_cell",
                    "bbox": {
                        "l": 211.4774,
                        "t": 555.264,
                        "r": 297.4201,
                        "b": 537.492
                    },
                    "text": "-",
                    "attrs": {
                        "row": 7,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p155.5.41",
                    "order": 46,
                    "type": "table_cell",
                    "bbox": {
                        "l": 436.14,
                        "t": 538.5586,
                        "r": 452.34234,
                        "b": 526.8051399999999
                    },
                    "text": "102",
                    "attrs": {
                        "row": 7,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.42",
                    "order": 47,
                    "type": "table_cell",
                    "bbox": {
                        "l": 502.8,
                        "t": 538.5586,
                        "r": 508.98234,
                        "b": 526.8051399999999
                    },
                    "text": "9",
                    "attrs": {
                        "row": 7,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.43",
                    "order": 48,
                    "type": "table_cell",
                    "bbox": {
                        "l": 529.86,
                        "t": 538.5586,
                        "r": 551.58234,
                        "b": 526.8051399999999
                    },
                    "text": "3,119",
                    "attrs": {
                        "row": 7,
                        "col": 5,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.44",
                    "order": 49,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 504.23859999999996,
                        "r": 109.7912,
                        "b": 492.48513999999994
                    },
                    "text": "At 1 April 2025",
                    "attrs": {
                        "row": 8,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.45",
                    "order": 50,
                    "type": "table_cell",
                    "bbox": {
                        "l": 292.24,
                        "t": 504.23859999999996,
                        "r": 317.6956,
                        "b": 492.48513999999994
                    },
                    "text": "2,680",
                    "attrs": {
                        "row": 8,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.46",
                    "order": 51,
                    "type": "table_cell",
                    "bbox": {
                        "l": 211.4774,
                        "t": 519.72,
                        "r": 297.4201,
                        "b": 501.948
                    },
                    "text": "-",
                    "attrs": {
                        "row": 8,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p155.5.47",
                    "order": 52,
                    "type": "table_cell",
                    "bbox": {
                        "l": 437.04,
                        "t": 504.23859999999996,
                        "r": 452.25624,
                        "b": 492.48513999999994
                    },
                    "text": "102",
                    "attrs": {
                        "row": 8,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.48",
                    "order": 53,
                    "type": "table_cell",
                    "bbox": {
                        "l": 503.04,
                        "t": 504.23859999999996,
                        "r": 508.98186,
                        "b": 492.48513999999994
                    },
                    "text": "9",
                    "attrs": {
                        "row": 8,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.49",
                    "order": 54,
                    "type": "table_cell",
                    "bbox": {
                        "l": 529.62,
                        "t": 504.23859999999996,
                        "r": 551.56956,
                        "b": 492.48513999999994
                    },
                    "text": "2,791",
                    "attrs": {
                        "row": 8,
                        "col": 5,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.50",
                    "order": 55,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 489.17859999999996,
                        "r": 114.34056,
                        "b": 477.42513999999994
                    },
                    "text": "Charge for Year",
                    "attrs": {
                        "row": 9,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.51",
                    "order": 56,
                    "type": "table_cell",
                    "bbox": {
                        "l": 302.98,
                        "t": 489.17859999999996,
                        "r": 317.6593,
                        "b": 477.42513999999994
                    },
                    "text": "213",
                    "attrs": {
                        "row": 9,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.52",
                    "order": 57,
                    "type": "table_cell",
                    "bbox": {
                        "l": 211.4774,
                        "t": 501.948,
                        "r": 297.4201,
                        "b": 484.176
                    },
                    "text": "-",
                    "attrs": {
                        "row": 9,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p155.5.53",
                    "order": 58,
                    "type": "table_cell",
                    "bbox": {
                        "l": 297.4201,
                        "t": 501.948,
                        "r": 383.3627,
                        "b": 484.176
                    },
                    "text": "-",
                    "attrs": {
                        "row": 9,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p155.5.54",
                    "order": 59,
                    "type": "table_cell",
                    "bbox": {
                        "l": 383.3627,
                        "t": 501.948,
                        "r": 469.3054,
                        "b": 484.176
                    },
                    "text": "-",
                    "attrs": {
                        "row": 9,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p155.5.55",
                    "order": 60,
                    "type": "table_cell",
                    "bbox": {
                        "l": 536.88,
                        "t": 489.17859999999996,
                        "r": 551.5593,
                        "b": 477.42513999999994
                    },
                    "text": "213",
                    "attrs": {
                        "row": 9,
                        "col": 5,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.56",
                    "order": 61,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 474.17859999999996,
                        "r": 88.509,
                        "b": 462.42513999999994
                    },
                    "text": "Disposals",
                    "attrs": {
                        "row": 10,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.57",
                    "order": 62,
                    "type": "table_cell",
                    "bbox": {
                        "l": 300.22,
                        "t": 474.17859999999996,
                        "r": 317.67484,
                        "b": 462.42513999999994
                    },
                    "text": "(99)",
                    "attrs": {
                        "row": 10,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.58",
                    "order": 63,
                    "type": "table_cell",
                    "bbox": {
                        "l": 211.4774,
                        "t": 484.176,
                        "r": 297.4201,
                        "b": 466.404
                    },
                    "text": "-",
                    "attrs": {
                        "row": 10,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p155.5.59",
                    "order": 64,
                    "type": "table_cell",
                    "bbox": {
                        "l": 297.4201,
                        "t": 484.176,
                        "r": 383.3627,
                        "b": 466.404
                    },
                    "text": "-",
                    "attrs": {
                        "row": 10,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p155.5.60",
                    "order": 65,
                    "type": "table_cell",
                    "bbox": {
                        "l": 383.3627,
                        "t": 484.176,
                        "r": 469.3054,
                        "b": 466.404
                    },
                    "text": "-",
                    "attrs": {
                        "row": 10,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p155.5.61",
                    "order": 66,
                    "type": "table_cell",
                    "bbox": {
                        "l": 534.12,
                        "t": 474.17859999999996,
                        "r": 551.57484,
                        "b": 462.42513999999994
                    },
                    "text": "(99)",
                    "attrs": {
                        "row": 10,
                        "col": 5,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.62",
                    "order": 67,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 459.11859999999996,
                        "r": 128.48222,
                        "b": 428.04513999999995
                    },
                    "text": "At 31 March 2026\nNet book value",
                    "attrs": {
                        "row": 11,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p155.5.63",
                    "order": 68,
                    "type": "table_cell",
                    "bbox": {
                        "l": 291.82,
                        "t": 459.11859999999996,
                        "r": 317.6716,
                        "b": 447.36513999999994
                    },
                    "text": "2,794",
                    "attrs": {
                        "row": 11,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.64",
                    "order": 69,
                    "type": "table_cell",
                    "bbox": {
                        "l": 211.4774,
                        "t": 466.404,
                        "r": 297.4201,
                        "b": 448.632
                    },
                    "text": "-",
                    "attrs": {
                        "row": 11,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p155.5.65",
                    "order": 70,
                    "type": "table_cell",
                    "bbox": {
                        "l": 436.14,
                        "t": 459.11859999999996,
                        "r": 452.34234,
                        "b": 447.36513999999994
                    },
                    "text": "102",
                    "attrs": {
                        "row": 11,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.66",
                    "order": 71,
                    "type": "table_cell",
                    "bbox": {
                        "l": 502.8,
                        "t": 459.11859999999996,
                        "r": 508.98234,
                        "b": 447.36513999999994
                    },
                    "text": "9",
                    "attrs": {
                        "row": 11,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.67",
                    "order": 72,
                    "type": "table_cell",
                    "bbox": {
                        "l": 524.7,
                        "t": 459.11859999999996,
                        "r": 551.58366,
                        "b": 447.36513999999994
                    },
                    "text": "2,905",
                    "attrs": {
                        "row": 11,
                        "col": 5,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.68",
                    "order": 73,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 424.7186,
                        "r": 128.48222,
                        "b": 412.96513999999996
                    },
                    "text": "At 31 March 2026",
                    "attrs": {
                        "row": 12,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.69",
                    "order": 74,
                    "type": "table_cell",
                    "bbox": {
                        "l": 301.54,
                        "t": 424.7186,
                        "r": 317.67874,
                        "b": 412.96513999999996
                    },
                    "text": "214",
                    "attrs": {
                        "row": 12,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p155.5.70",
                    "order": 75,
                    "type": "table_cell",
                    "bbox": {
                        "l": 211.4774,
                        "t": 430.86,
                        "r": 297.4201,
                        "b": 413.088
                    },
                    "text": "-",
                    "attrs": {
                        "row": 12,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p155.5.71",
                    "order": 76,
                    "type": "table_cell",
                    "bbox": {
                        "l": 297.4201,
                        "t": 430.86,
                        "r": 383.3627,
                        "b": 413.088
                    },
                    "text": "-",
                    "attrs": {
                        "row": 12,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p155.5.72",
                    "order": 77,
                    "type": "table_cell",
                    "bbox": {
                        "l": 383.3627,
                        "t": 430.86,
                        "r": 469.3054,
                        "b": 413.088
                    },
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Page 156

101 item(s) JSON
header (3) table (1) table_cell (97)
Page 156
1 · HEADER
2 · HEADER
3 · HEADER
4 · TABLE
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Table integrity: 1 of 58 cells don't match the text layer at their coordinates.
r1c4 (0%): “Software Licences”
Page 156 JSON
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                    "bbox": {
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                    "text": "At 1 April 2024",
                    "attrs": {
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                        "bbox_refit": true
                    }
                },
                {
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                    "type": "table_cell",
                    "bbox": {
                        "l": 294.76,
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                    "text": "2,614",
                    "attrs": {
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                        "rowspan": 1,
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                        "bbox_refit": true
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                },
                {
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                    "type": "table_cell",
                    "bbox": {
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                    "text": "631",
                    "attrs": {
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                    "text": "102",
                    "attrs": {
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                        "col": 3,
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                        "bbox_refit": true
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                },
                {
                    "id": "p156.4.24",
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                    "type": "table_cell",
                    "bbox": {
                        "l": 503.04,
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                        "r": 508.98186,
                        "b": 636.6051399999999
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                    "text": "9",
                    "attrs": {
                        "row": 4,
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                        "rowspan": 1,
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                },
                {
                    "id": "p156.4.25",
                    "order": 29,
                    "type": "table_cell",
                    "bbox": {
                        "l": 526.8,
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                    "attrs": {
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                        "col": 5,
                        "rowspan": 1,
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                },
                {
                    "id": "p156.4.26",
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                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 633.3586,
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                    "text": "Reclassification",
                    "attrs": {
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                        "col": 0,
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                        "bbox_refit": true
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                },
                {
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                    "bbox": {
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                    "text": "197",
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                },
                {
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                    "type": "table_cell",
                    "bbox": {
                        "l": 368.02,
                        "t": 633.3586,
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                        "b": 621.6051399999999
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                    "text": "(197)",
                    "attrs": {
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                },
                {
                    "id": "p156.4.29",
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                    "type": "table_cell",
                    "bbox": {
                        "l": 296.7002,
                        "t": 658.0042,
                        "r": 382.3229,
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                        "row": 5,
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                },
                {
                    "id": "p156.4.30",
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                    "bbox": {
                        "l": 382.3229,
                        "t": 658.0042,
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                {
                    "id": "p156.4.31",
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                    "type": "table_cell",
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                },
                {
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                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 618.2986,
                        "r": 128.19164,
                        "b": 587.22514
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                    "text": "At 31 March 2025\nAmortisation",
                    "attrs": {
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                {
                    "id": "p156.4.33",
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                    "type": "table_cell",
                    "bbox": {
                        "l": 294.76,
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                    "text": "2,811",
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                        "col": 1,
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                        "bbox_refit": true
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                },
                {
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                    "type": "table_cell",
                    "bbox": {
                        "l": 370.18,
                        "t": 618.2986,
                        "r": 388.53172,
                        "b": 606.54514
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                    "text": "434",
                    "attrs": {
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                },
                {
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                    "type": "table_cell",
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                        "l": 443.28,
                        "t": 618.2986,
                        "r": 459.48234,
                        "b": 606.54514
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                    "text": "102",
                    "attrs": {
                        "row": 6,
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                },
                {
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                        "t": 618.2986,
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                },
                {
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                    "bbox": {
                        "l": 43.92,
                        "t": 583.9186,
                        "r": 109.77164,
                        "b": 572.16514
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                    "text": "At 1 April 2024",
                    "attrs": {
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                        "bbox_refit": true
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                },
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                    "type": "table_cell",
                    "bbox": {
                        "l": 295.12,
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                        "col": 1,
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                        "bbox_refit": true
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                },
                {
                    "id": "p156.4.40",
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                    "type": "table_cell",
                    "bbox": {
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                },
                {
                    "id": "p156.4.41",
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                        "l": 444.18,
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                    "text": "102",
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                },
                {
                    "id": "p156.4.42",
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                    "bbox": {
                        "l": 503.04,
                        "t": 583.9186,
                        "r": 508.98186,
                        "b": 572.16514
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                    "text": "9",
                    "attrs": {
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                },
                {
                    "id": "p156.4.43",
                    "order": 47,
                    "type": "table_cell",
                    "bbox": {
                        "l": 526.62,
                        "t": 583.9186,
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                },
                {
                    "id": "p156.4.44",
                    "order": 48,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 568.9186,
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                    "text": "Charge for Year",
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                        "col": 0,
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                        "bbox_refit": true
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                },
                {
                    "id": "p156.4.45",
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                    "bbox": {
                        "l": 302.62,
                        "t": 568.9186,
                        "r": 317.57986,
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                    "text": "165",
                    "attrs": {
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                        "rowspan": 1,
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                },
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                    "type": "table_cell",
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                        "l": 211.0775,
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                },
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                },
                {
                    "id": "p156.4.48",
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                    "bbox": {
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                    "text": "165",
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                },
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                        "l": 43.92,
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                    "text": "At 31 March 2025\nNet book value",
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                        "merged_continuation": true
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                {
                    "id": "p156.4.51",
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                    "bbox": {
                        "l": 290.5,
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                    "text": "2,680",
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                        "l": 211.0775,
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                    "text": "-",
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                {
                    "id": "p156.4.53",
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                    "bbox": {
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                        "t": 553.8586,
                        "r": 459.48234,
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                    "text": "102",
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                        "bbox_refit": true
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                },
                {
                    "id": "p156.4.54",
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                    "type": "table_cell",
                    "bbox": {
                        "l": 502.8,
                        "t": 553.8586,
                        "r": 508.98234,
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                    "text": "9",
                    "attrs": {
                        "row": 9,
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                },
                {
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                    "text": "2,791",
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                    "id": "p156.4.56",
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                    "bbox": {
                        "l": 43.92,
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                    "text": "At 31 March 2025",
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                        "bbox_refit": true
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                },
                {
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                    "type": "table_cell",
                    "bbox": {
                        "l": 303.64,
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                    "text": "131",
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                    "text": "434",
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                },
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                {
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                    "type": "table_cell",
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                },
                {
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                    "bbox": {
                        "l": 533.64,
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                    "text": "565",
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                },
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                    "text": "",
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                    "id": "p156.4.63",
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                },
                {
                    "id": "p156.4.68",
                    "order": 72,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 489.4786,
                        "r": 128.35244,
                        "b": 477.72513999999995
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                    "text": "At 31 March 2024",
                    "attrs": {
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                        "rowspan": 1,
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                        "bbox_refit": true
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                },
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                    "bbox": {
                        "l": 305.2,
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                        "b": 477.72513999999995
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                    "text": "99",
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                        "bbox_refit": true
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                },
                {
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                    "type": "table_cell",
                    "bbox": {
                        "l": 372.52,
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                        "r": 388.54198,
                        "b": 477.72513999999995
                    },
                    "text": "631",
                    "attrs": {
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                        "bbox_refit": true
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                },
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Page 157

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Page 157
1 · HEADER
2 · HEADER
3 · HEADER
4 · TABLE
5
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r1c2 (25%): “Software Development Under Construction”
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                        "l": 357.04,
                        "t": 656.8186,
                        "r": 374.35456,
                        "b": 645.0651399999999
                    },
                    "text": "296",
                    "attrs": {
                        "row": 5,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.20",
                    "order": 24,
                    "type": "table_cell",
                    "bbox": {
                        "l": 486,
                        "t": 656.8186,
                        "r": 509.0961,
                        "b": 645.0651399999999
                    },
                    "text": "(296)",
                    "attrs": {
                        "row": 5,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.21",
                    "order": 25,
                    "type": "table_cell",
                    "bbox": {
                        "l": 425.1343,
                        "t": 662.52,
                        "r": 553.5684,
                        "b": 646.032
                    },
                    "text": "-",
                    "attrs": {
                        "row": 5,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p157.4.22",
                    "order": 26,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 641.7586,
                        "r": 88.509,
                        "b": 630.00514
                    },
                    "text": "Disposals",
                    "attrs": {
                        "row": 6,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.23",
                    "order": 27,
                    "type": "table_cell",
                    "bbox": {
                        "l": 356.92,
                        "t": 641.7586,
                        "r": 374.37484,
                        "b": 630.00514
                    },
                    "text": "(99)",
                    "attrs": {
                        "row": 6,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.24",
                    "order": 28,
                    "type": "table_cell",
                    "bbox": {
                        "l": 296.7002,
                        "t": 646.032,
                        "r": 425.1343,
                        "b": 629.544
                    },
                    "text": "-",
                    "attrs": {
                        "row": 6,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p157.4.25",
                    "order": 29,
                    "type": "table_cell",
                    "bbox": {
                        "l": 534,
                        "t": 641.7586,
                        "r": 551.45484,
                        "b": 630.00514
                    },
                    "text": "(99)",
                    "attrs": {
                        "row": 6,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.26",
                    "order": 30,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 626.7586,
                        "r": 98.45886,
                        "b": 615.00514
                    },
                    "text": "Impairment",
                    "attrs": {
                        "row": 7,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.27",
                    "order": 31,
                    "type": "table_cell",
                    "bbox": {
                        "l": 168.2661,
                        "t": 629.544,
                        "r": 296.7002,
                        "b": 613.056
                    },
                    "text": "-",
                    "attrs": {
                        "row": 7,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p157.4.28",
                    "order": 32,
                    "type": "table_cell",
                    "bbox": {
                        "l": 488.46,
                        "t": 626.7586,
                        "r": 509.03106,
                        "b": 615.00514
                    },
                    "text": "(138)",
                    "attrs": {
                        "row": 7,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.29",
                    "order": 33,
                    "type": "table_cell",
                    "bbox": {
                        "l": 530.82,
                        "t": 626.7586,
                        "r": 551.39106,
                        "b": 615.00514
                    },
                    "text": "(138)",
                    "attrs": {
                        "row": 7,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.30",
                    "order": 34,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 611.6985999999999,
                        "r": 128.48222,
                        "b": 580.6251399999999
                    },
                    "text": "At 31 March 2026\nAmortisation",
                    "attrs": {
                        "row": 8,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p157.4.31",
                    "order": 35,
                    "type": "table_cell",
                    "bbox": {
                        "l": 347.2,
                        "t": 611.6985999999999,
                        "r": 374.38426,
                        "b": 599.9451399999999
                    },
                    "text": "3,008",
                    "attrs": {
                        "row": 8,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.32",
                    "order": 36,
                    "type": "table_cell",
                    "bbox": {
                        "l": 296.7002,
                        "t": 613.056,
                        "r": 425.1343,
                        "b": 596.568
                    },
                    "text": "-",
                    "attrs": {
                        "row": 8,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p157.4.33",
                    "order": 37,
                    "type": "table_cell",
                    "bbox": {
                        "l": 524.28,
                        "t": 611.6985999999999,
                        "r": 551.48238,
                        "b": 599.9451399999999
                    },
                    "text": "3,008",
                    "attrs": {
                        "row": 8,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.34",
                    "order": 38,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 577.3186,
                        "r": 109.7912,
                        "b": 565.5651399999999
                    },
                    "text": "At 1 April 2025",
                    "attrs": {
                        "row": 9,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.35",
                    "order": 39,
                    "type": "table_cell",
                    "bbox": {
                        "l": 348.94,
                        "t": 577.3186,
                        "r": 374.3956,
                        "b": 565.5651399999999
                    },
                    "text": "2,680",
                    "attrs": {
                        "row": 9,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.36",
                    "order": 40,
                    "type": "table_cell",
                    "bbox": {
                        "l": 296.7002,
                        "t": 580.08,
                        "r": 425.1343,
                        "b": 563.592
                    },
                    "text": "-",
                    "attrs": {
                        "row": 9,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p157.4.37",
                    "order": 41,
                    "type": "table_cell",
                    "bbox": {
                        "l": 526.02,
                        "t": 577.3186,
                        "r": 551.4756,
                        "b": 565.5651399999999
                    },
                    "text": "2,680",
                    "attrs": {
                        "row": 9,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.38",
                    "order": 42,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 562.3186,
                        "r": 114.34056,
                        "b": 550.5651399999999
                    },
                    "text": "Charge for Year",
                    "attrs": {
                        "row": 10,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.39",
                    "order": 43,
                    "type": "table_cell",
                    "bbox": {
                        "l": 359.68,
                        "t": 562.3186,
                        "r": 374.371,
                        "b": 550.5651399999999
                    },
                    "text": "213",
                    "attrs": {
                        "row": 10,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.40",
                    "order": 44,
                    "type": "table_cell",
                    "bbox": {
                        "l": 296.7002,
                        "t": 563.592,
                        "r": 425.1343,
                        "b": 547.104
                    },
                    "text": "-",
                    "attrs": {
                        "row": 10,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p157.4.41",
                    "order": 45,
                    "type": "table_cell",
                    "bbox": {
                        "l": 536.76,
                        "t": 562.3186,
                        "r": 551.451,
                        "b": 550.5651399999999
                    },
                    "text": "213",
                    "attrs": {
                        "row": 10,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.42",
                    "order": 46,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 547.2585999999999,
                        "r": 88.509,
                        "b": 535.50514
                    },
                    "text": "Disposals",
                    "attrs": {
                        "row": 11,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.43",
                    "order": 47,
                    "type": "table_cell",
                    "bbox": {
                        "l": 356.92,
                        "t": 547.2585999999999,
                        "r": 374.37484,
                        "b": 535.50514
                    },
                    "text": "(99)",
                    "attrs": {
                        "row": 11,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.44",
                    "order": 48,
                    "type": "table_cell",
                    "bbox": {
                        "l": 296.7002,
                        "t": 547.104,
                        "r": 425.1343,
                        "b": 530.616
                    },
                    "text": "-",
                    "attrs": {
                        "row": 11,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p157.4.45",
                    "order": 49,
                    "type": "table_cell",
                    "bbox": {
                        "l": 534,
                        "t": 547.2585999999999,
                        "r": 551.45484,
                        "b": 535.50514
                    },
                    "text": "(99)",
                    "attrs": {
                        "row": 11,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.46",
                    "order": 50,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 532.2585999999999,
                        "r": 128.48222,
                        "b": 501.18513999999993
                    },
                    "text": "At 31 March 2026\nNet book value",
                    "attrs": {
                        "row": 12,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p157.4.47",
                    "order": 51,
                    "type": "table_cell",
                    "bbox": {
                        "l": 348.52,
                        "t": 532.2585999999999,
                        "r": 374.37244,
                        "b": 520.50514
                    },
                    "text": "2,794",
                    "attrs": {
                        "row": 12,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.48",
                    "order": 52,
                    "type": "table_cell",
                    "bbox": {
                        "l": 296.7002,
                        "t": 530.616,
                        "r": 425.1343,
                        "b": 514.128
                    },
                    "text": "-",
                    "attrs": {
                        "row": 12,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p157.4.49",
                    "order": 53,
                    "type": "table_cell",
                    "bbox": {
                        "l": 525.6,
                        "t": 532.2585999999999,
                        "r": 551.45244,
                        "b": 520.50514
                    },
                    "text": "2,794",
                    "attrs": {
                        "row": 12,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.50",
                    "order": 54,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 497.87859999999995,
                        "r": 128.48222,
                        "b": 486.12513999999993
                    },
                    "text": "At 31 March 2026",
                    "attrs": {
                        "row": 13,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.51",
                    "order": 55,
                    "type": "table_cell",
                    "bbox": {
                        "l": 358.24,
                        "t": 497.87859999999995,
                        "r": 374.37244,
                        "b": 486.12513999999993
                    },
                    "text": "214",
                    "attrs": {
                        "row": 13,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.52",
                    "order": 56,
                    "type": "table_cell",
                    "bbox": {
                        "l": 296.7002,
                        "t": 497.64,
                        "r": 425.1343,
                        "b": 481.152
                    },
                    "text": "-",
                    "attrs": {
                        "row": 13,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p157.4.53",
                    "order": 57,
                    "type": "table_cell",
                    "bbox": {
                        "l": 535.32,
                        "t": 497.87859999999995,
                        "r": 551.45244,
                        "b": 486.12513999999993
                    },
                    "text": "214",
                    "attrs": {
                        "row": 13,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.54",
                    "order": 58,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 478.55859999999996,
                        "r": 128.19164,
                        "b": 466.80513999999994
                    },
                    "text": "At 31 March 2025",
                    "attrs": {
                        "row": 14,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.55",
                    "order": 59,
                    "type": "table_cell",
                    "bbox": {
                        "l": 360.4,
                        "t": 478.55859999999996,
                        "r": 374.3278,
                        "b": 466.80513999999994
                    },
                    "text": "131",
                    "attrs": {
                        "row": 14,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.56",
                    "order": 60,
                    "type": "table_cell",
                    "bbox": {
                        "l": 490.74,
                        "t": 478.55859999999996,
                        "r": 509.09172,
                        "b": 466.80513999999994
                    },
                    "text": "434",
                    "attrs": {
                        "row": 14,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.57",
                    "order": 61,
                    "type": "table_cell",
                    "bbox": {
                        "l": 533.64,
                        "t": 478.55859999999996,
                        "r": 551.4023,
                        "b": 466.80513999999994
                    },
                    "text": "565",
                    "attrs": {
                        "row": 14,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.58",
                    "order": 62,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 459.23859999999996,
                        "r": 184.45344,
                        "b": 447.48513999999994
                    },
                    "text": "Non-Current Intangible Assets",
                    "attrs": {
                        "row": 15,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.59",
                    "order": 63,
                    "type": "table_cell",
                    "bbox": {
                        "l": 359.38,
                        "t": 459.23859999999996,
                        "r": 374.39164,
                        "b": 447.48513999999994
                    },
                    "text": "214",
                    "attrs": {
                        "row": 15,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.60",
                    "order": 64,
                    "type": "table_cell",
                    "bbox": {
                        "l": 296.7002,
                        "t": 464.664,
                        "r": 425.1343,
                        "b": 448.176
                    },
                    "text": "-",
                    "attrs": {
                        "row": 15,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p157.4.61",
                    "order": 65,
                    "type": "table_cell",
                    "bbox": {
                        "l": 536.46,
                        "t": 459.23859999999996,
                        "r": 551.47164,
                        "b": 447.48513999999994
                    },
                    "text": "214",
                    "attrs": {
                        "row": 15,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.62",
                    "order": 66,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 444.17859999999996,
                        "r": 160.93356,
                        "b": 432.42513999999994
                    },
                    "text": "Current Intangible Assets",
                    "attrs": {
                        "row": 16,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.63",
                    "order": 67,
                    "type": "table_cell",
                    "bbox": {
                        "l": 168.2661,
                        "t": 448.176,
                        "r": 296.7002,
                        "b": 431.688
                    },
                    "text": "-",
                    "attrs": {
                        "row": 16,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p157.4.64",
                    "order": 68,
                    "type": "table_cell",
                    "bbox": {
                        "l": 296.7002,
                        "t": 448.176,
                        "r": 425.1343,
                        "b": 431.688
                    },
                    "text": "-",
                    "attrs": {
                        "row": 16,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p157.4.65",
                    "order": 69,
                    "type": "table_cell",
                    "bbox": {
                        "l": 425.1343,
                        "t": 448.176,
                        "r": 553.5684,
                        "b": 431.688
                    },
                    "text": "-",
                    "attrs": {
                        "row": 16,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p157.4.66",
                    "order": 70,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 429.63859999999994,
                        "r": 241.88222,
                        "b": 417.88514
                    },
                    "text": "Total Intangible Assets at 31 March 2026",
                    "attrs": {
                        "row": 17,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.67",
                    "order": 71,
                    "type": "table_cell",
                    "bbox": {
                        "l": 358.24,
                        "t": 429.63859999999994,
                        "r": 374.37244,
                        "b": 417.88514
                    },
                    "text": "214",
                    "attrs": {
                        "row": 17,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p157.4.68",
                    "order": 72,
                    "type": "table_cell",
                    "bbox": {
                        "l": 296.7002,
                        "t": 431.688,
                        "r": 425.1343,
                        "b": 415.2
                    },
                    "text": "-",
                    "attrs": {
                        "row": 17,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p157.4.69",
                    "order": 73,
                    "type": "table_cell",
                    "bbox": {
                        "l": 535.32,
                        "t": 429.63859999999994,
                        "r": 551.45244,
                        "b": 417.88514
                    },
                    "text": "214",
                    "attrs": {
                        "row": 17,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                }
            ]
        }
    ],
    "excluded_furniture": {
        "first": [],
        "last": []
    }
}

Page 158

53 item(s) JSON
header (3) table (1) table_cell (49)
Page 158
1 · HEADER
2 · HEADER
3 · HEADER
4 · TABLE
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
Table integrity: 1 of 38 cells don't match the text layer at their coordinates.
r1c2 (25%): “Software Development Under Construction”
Page 158 JSON
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            "text": "Notes to the Accounts",
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                    "text": "£000",
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                    "text": "Cost",
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                        "t": 671.8186,
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                        "b": 660.0651399999999
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                    "text": "At 1 April 2024",
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                        "col": 3,
                        "rowspan": 1,
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                        "bbox_refit": true
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                    "bbox": {
                        "l": 43.92,
                        "t": 656.8186,
                        "r": 116.19426,
                        "b": 645.0651399999999
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                    "text": "Reclassification",
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                        "rowspan": 1,
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                    "bbox": {
                        "l": 359.74,
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                    "text": "197",
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                        "rowspan": 1,
                        "colspan": 1,
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                },
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                        "colspan": 1,
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                    "bbox": {
                        "l": 425.0743,
                        "t": 660.7341,
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                        "b": 644.0329
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                    "text": "-",
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                        "colspan": 1
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                },
                {
                    "id": "p158.4.22",
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                    "bbox": {
                        "l": 43.92,
                        "t": 641.7586,
                        "r": 128.18246,
                        "b": 610.6851399999999
                    },
                    "text": "At 31 March 2025\nAmortisation",
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                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
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                    "bbox": {
                        "l": 351.52,
                        "t": 641.7586,
                        "r": 374.3884,
                        "b": 630.00514
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                    "text": "2,811",
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                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
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                    "bbox": {
                        "l": 490.74,
                        "t": 641.7586,
                        "r": 509.09172,
                        "b": 630.00514
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                    "text": "434",
                    "attrs": {
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                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
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                },
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                    "bbox": {
                        "l": 525.18,
                        "t": 641.7586,
                        "r": 551.45244,
                        "b": 630.00514
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                    "text": "3,245",
                    "attrs": {
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                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
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                    "bbox": {
                        "l": 43.92,
                        "t": 607.3786,
                        "r": 109.77164,
                        "b": 595.62514
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                    "text": "At 1 April 2024",
                    "attrs": {
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                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
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                },
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                    "bbox": {
                        "l": 351.88,
                        "t": 607.3786,
                        "r": 374.33482,
                        "b": 595.62514
                    },
                    "text": "2,515",
                    "attrs": {
                        "row": 7,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
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                },
                {
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                    "type": "table_cell",
                    "bbox": {
                        "l": 296.5802,
                        "t": 610.6306,
                        "r": 425.0743,
                        "b": 593.9294
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                    "text": "-",
                    "attrs": {
                        "row": 7,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
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                },
                {
                    "id": "p158.4.29",
                    "order": 33,
                    "type": "table_cell",
                    "bbox": {
                        "l": 528.96,
                        "t": 607.3786,
                        "r": 551.41482,
                        "b": 595.62514
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                    "text": "2,515",
                    "attrs": {
                        "row": 7,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
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                },
                {
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                    "order": 34,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 592.3786,
                        "r": 114.34056,
                        "b": 580.6251399999999
                    },
                    "text": "Charge for Year",
                    "attrs": {
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                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
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                },
                {
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                    "order": 35,
                    "type": "table_cell",
                    "bbox": {
                        "l": 359.38,
                        "t": 592.3786,
                        "r": 374.33986,
                        "b": 580.6251399999999
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                    "text": "165",
                    "attrs": {
                        "row": 8,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
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                },
                {
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                    "order": 36,
                    "type": "table_cell",
                    "bbox": {
                        "l": 296.5802,
                        "t": 593.9294,
                        "r": 425.0743,
                        "b": 577.2282
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                    "text": "-",
                    "attrs": {
                        "row": 8,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
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                {
                    "id": "p158.4.33",
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                    "type": "table_cell",
                    "bbox": {
                        "l": 536.46,
                        "t": 592.3786,
                        "r": 551.41986,
                        "b": 580.6251399999999
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                    "text": "165",
                    "attrs": {
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                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
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                },
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                    "bbox": {
                        "l": 43.92,
                        "t": 577.3186,
                        "r": 128.18246,
                        "b": 546.24514
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                    "text": "At 31 March 2025\nNet book value",
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                        "bbox_refit": true,
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                    "bbox": {
                        "l": 347.26,
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                        "r": 374.39716,
                        "b": 565.5651399999999
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                    "text": "2,680",
                    "attrs": {
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                        "col": 1,
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                        "bbox_refit": true
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                },
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                        "colspan": 1
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                {
                    "id": "p158.4.37",
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                    "bbox": {
                        "l": 524.34,
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                        "b": 565.5651399999999
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                    "text": "2,680",
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                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
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                },
                {
                    "id": "p158.4.38",
                    "order": 42,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 542.9985999999999,
                        "r": 184.45344,
                        "b": 492.54513999999995
                    },
                    "text": "At 31 March 2025\nAt 31 March 2024\nNon-Current Intangible Assets",
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                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
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                {
                    "id": "p158.4.39",
                    "order": 43,
                    "type": "table_cell",
                    "bbox": {
                        "l": 360.4,
                        "t": 542.9985999999999,
                        "r": 374.3452,
                        "b": 492.54513999999995
                    },
                    "text": "131\n99\n131",
                    "attrs": {
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                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
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                {
                    "id": "p158.4.40",
                    "order": 44,
                    "type": "table_cell",
                    "bbox": {
                        "l": 490.74,
                        "t": 542.9985999999999,
                        "r": 509.10198,
                        "b": 492.54513999999995
                    },
                    "text": "434\n631\n434",
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                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
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                {
                    "id": "p158.4.41",
                    "order": 45,
                    "type": "table_cell",
                    "bbox": {
                        "l": 533.52,
                        "t": 542.9985999999999,
                        "r": 551.44278,
                        "b": 492.54513999999995
                    },
                    "text": "565\n730\n565",
                    "attrs": {
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                        "col": 3,
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                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
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                {
                    "id": "p158.4.42",
                    "order": 46,
                    "type": "table_cell",
                    "bbox": {
                        "l": 43.92,
                        "t": 489.29859999999996,
                        "r": 160.93356,
                        "b": 477.54513999999995
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                    "text": "Current Intangible Assets",
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                        "b": 477.0212
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Page 159

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Page 160

63 item(s) JSON
header (3) heading (1) table (2) table_cell (54) text (3)
Page 160
1 · HEADER
2 · HEADER
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5 · TABLE
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7
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27 · HEADING
28 · TABLE
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36
37
38
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40
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42
43
44
45
46
47
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49
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62 · TEXT
63 · TEXT
Page 160 JSON
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Page 161

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Page 161
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            "text": "Stock Exchange investments included in the above at 31 March 2026 are valued £16,979,940 (2025: £32,768,400) which includes unrealised surpluses on valuation of £4,115,583 (2025: £3,921,891). Income from listed investments in the year to 31 March 2026 was £76,051 (2025: £125,531)."
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            "text": "The Group accounts include the results of the following, all of which are registered in Scotland."
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                    "text": "Limited by shares\nGlasgow Science Centre Limited (i)\nGlasgow Science Centre (Trading) Limited (i)",
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                    "text": "% of Voting rights\n100\n100",
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                    "text": "Loch Lomond Shores Management Company Limited\nScotland Europa Limited\nSCTR Limited\nGDA Investments Limited\nScottish Investment Bank Limited",
                    "attrs": {
                        "row": 2,
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                    "text": "Property management\nBusiness services\nBusiness incubator\nDormant\nDormant",
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                    "text": "100\n100\n100\n100\n100",
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                    "text": "% of Membership",
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                    "text": "Calder Park (Management) Limited",
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                    "text": "Property management",
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                    "text": "100",
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                    "text": "Glasgow Science Centre Charitable Trust",
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                    "text": "The Glasgow Science Centre Endowment Fund\nITI Scotland Limited",
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                    "text": "Investment fund\nCommissioning of research",
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            "text": "i) Glasgow Science Centre Limited and Glasgow Science Centre (Trading) Limited are subsidiary companies of Glasgow Science Centre Charitable Trust."
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}

Page 162

35 item(s) JSON
header (3) heading (1) table (2) table_cell (28) text (1)
Page 162
1 · HEADER
2 · HEADER
3 · HEADER
4 · TABLE
5
6 · HEADING
7 · TEXT
8 · TABLE
9
10
11
12
13
14
15
16
17
18
19
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21
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25
26
27
28
29
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31
32
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Page 162 JSON
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                    "text": "Local Enterprise Companies\nScottish Enterprise Ayrshire (dormant)\nScottish Enterprise Borders (dormant)\nScottish Enterprise Dumfries & Galloway (dormant)\nScottish Enterprise Dunbartonshire (dormant)\nScottish Enterprise Edinburgh & Lothian (dormant)\nScottish Enterprise Fife (dormant)\nScottish Enterprise Forth Valley (dormant)\nScottish Enterprise Glasgow (dormant)\nScottish Enterprise Grampian (dormant)\nScottish Enterprise Lanarkshire (dormant)\nScottish Enterprise Renfrewshire (dormant)\nScottish Enterprise Tayside (dormant)",
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Page 163

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Page 164

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1 · HEADER
2 · HEADER
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4 · HEADING
5 · TEXT
6 · FIGURE
7
8 · TEXT
9 · FIGURE
10 · TEXT
11 · TEXT
12 · HEADING
13 · TEXT
14 · TEXT
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            "text": "During the year, the Group reclassified its investment held via Fastball Holdings LLC from Level 1 to Level 3. This followed confirmation that Fastball has sold all of its Flutter Entertainment plc shares and now holds only cash and cash equivalents. As a result, the valuation is no longer based on quoted market prices but on the Group's pro-rata entitlements to Fastball's net assets."
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Page 165

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90
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r8c0 (0%): “Depreciation revaluation”
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                },
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                        "l": 356.98,
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                },
                {
                    "id": "p165.4.41",
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                },
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                },
                {
                    "id": "p165.4.56",
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                },
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                    "text": "769",
                    "attrs": {
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                },
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                {
                    "id": "p165.5.16",
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                    "text": "(27,325)",
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                    "text": "Depreciation",
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                },
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                    "text": "(4,759)",
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                {
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                        "l": 46.8,
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                    "text": "(Impairment)/reversal of previous impairment",
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                {
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                    "text": "(2,982)",
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                {
                    "id": "p165.5.44",
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                        "r": 390.91846,
                        "b": 162.17185999999992
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                    "text": "(1,430)",
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                {
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                        "b": 141.4971
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                    "text": "-",
                    "attrs": {
                        "row": 9,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1
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                },
                {
                    "id": "p165.5.46",
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                    "bbox": {
                        "l": 516.72,
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                    "text": "(4,412)",
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                        "col": 4,
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                },
                {
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                    "text": "Net gains recognised in Other Comprehensive Net Expenditure",
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                {
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                        "row": 10,
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                {
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                        "l": 363.46,
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                    "text": "3,709",
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                        "col": 2,
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                {
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                {
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                    "text": "(37,835)",
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                        "l": 46.8,
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                        "b": 76.95186000000001
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                    "text": "At 31 March 2025",
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                {
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                    "text": "438,440",
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                {
                    "id": "p165.5.59",
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                    "text": "165,618",
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}

Page 166

122 item(s) JSON
header (3) table (2) table_cell (117)
Page 166
1 · HEADER
2 · HEADER
3 · HEADER
4 · TABLE
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r7c0 (0%): “Depreciation revaluation”
Page 166 JSON
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                    "text": "(10,596)",
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                    "id": "p166.4.51",
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                    "text": "347",
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                        "l": 291.46,
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                    "text": "(100,173)",
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                },
                {
                    "id": "p166.4.56",
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                },
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                    "bbox": {
                        "l": 46.8,
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                },
                {
                    "id": "p166.4.58",
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                    "bbox": {
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                    "text": "373,820",
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                },
                {
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                    "bbox": {
                        "l": 369.64,
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                    "text": "Transfers (to)/from held for sale",
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                },
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                {
                    "id": "p166.5.34",
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                        "l": 391.96,
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                    "text": "996",
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                },
                {
                    "id": "p166.5.35",
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                        "l": 364.1506,
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                        "row": 7,
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                        "colspan": 1
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                },
                {
                    "id": "p166.5.36",
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                        "l": 555.3,
                        "t": 195.45139999999992,
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                    "text": "996",
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                {
                    "id": "p166.5.37",
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                    "bbox": {
                        "l": 46.8,
                        "t": 177.03139999999996,
                        "r": 219.28482,
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                    "text": "(Impairment)/reversal of previous impairment",
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                        "row": 8,
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                {
                    "id": "p166.5.38",
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                        "l": 299.14,
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                        "l": 378.58,
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                {
                    "id": "p166.5.41",
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                        "l": 540.18,
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                        "row": 9,
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                {
                    "id": "p166.5.44",
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                        "l": 395.2,
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                    "text": "312",
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                {
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                        "row": 9,
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                {
                    "id": "p166.5.46",
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                        "l": 558.54,
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                    "text": "312",
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                        "row": 9,
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                {
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                        "l": 293.86,
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                    "text": "(36,233)",
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                        "l": 386.86,
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                    "text": "1,333",
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                        "l": 533.22,
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                    "text": "(34,900)",
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                        "l": 46.8,
                        "t": 78.6114,
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                    "text": "At 31 March 2025",
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                        "l": 375.04,
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}

Page 167

53 item(s) JSON
header (3) table (4) table_cell (44) text (2)
Page 167
1 · HEADER
2 · HEADER
3 · HEADER
4 · TEXT
5 · TABLE
6
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17 · TABLE
18
19
20
21
22
23
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25
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29 · TABLE
30
31
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41 · TABLE
42
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53 · TEXT
Page 167 JSON
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Page 168

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                    "text": "Scottish Enterprise holds a number of investments across a range of different instruments, including equity, preference shares and loans. Shares which have voting rights attached are treated as equity and will be valued on a fair value basis in line with international industry standards. Fair value is the price that would be received to sell an asset in an orderly transaction between market participants given current market conditions at the measurement date.",
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                    "text": "Debt instruments that have been provided as a means of bridge funding to the next equity round, will be similarly valued on a fair value basis. Cost may be the best indicator of fair value, unless market or company specific conditions exist, which would indicate that fair value differs from cost.\nSeveral valuation techniques may be considered for use in estimating fair value, with judgement applied when considering case-specific factors or terms of the investment which may impact fair value. Valuation techniques that will be considered, include price of recent investment, earnings multiple, turnover multiple, net asset value, indicative offers and for listed companies available market prices. The key selection criteria for the valuation technique adopted is it should be appropriate given the nature, facts and circumstances of the investment.\nScottish Enterprise's portfolio comprises mostly unquoted investments in seed, start up and early stage companies for which there is not active market and in many cases the portfolio companies are pre-revenue or loss making (or both), which rules out earnings or turnover multiple based valuation techniques. Consequently, the fair value of the majority of investments is established by reference to valuation placed on the investee company at the most recent round of investment or price of recent investment; however Scottish Enterprise will take into account the circumstances of the funding round, current company performance relative to plan and any subsequent events which may impact on fair value.\nWhere the portfolio company is a more established business with an identifiable stream of earnings that are considered to be maintainable, the fair value of Scottish Enterprise's investment will be established by the application of a multiplier to the earnings of the business. The multiplier will be based on the quoted price / earnings ratio appropriate",
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                    "text": "Valuation approach, key unobservable inputs and relationship between unobservable inputs and fair value\nto the industry sector, discounted for lack of marketability, liquidity and other relevant factors which can vary considerably by sector.\nThere was one company valued using the earnings multiple basis at 31 March 2026. The multiple applied (6x) was arrived at with reference to publicly available data on comparable companies and represented a significant discount to the sector multiple applied to companies in the public markets.",
                    "attrs": {
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                    }
                },
                {
                    "id": "p169.4.2",
                    "order": 6,
                    "type": "table_cell",
                    "bbox": {
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                        "b": 572.04
                    },
                    "text": "A number of industries have industry-specific valuation benchmarks and certain financial services, IT and some service sectors where long-term contractors are a key feature, use turnover multiples as a valuation benchmark based on the assumption that purchasers are willing to pay for turnover or market share.",
                    "attrs": {
                        "row": 1,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 2
                    }
                },
                {
                    "id": "p169.4.3",
                    "order": 7,
                    "type": "table_cell",
                    "bbox": {
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                        "b": 200.80399999999997
                    },
                    "text": "For early stage and emerging growth companies that have negative earnings, both historical and projected, a multiple of turnover may be considered as an appropriate valuation technique for calculating Fair Value. Where the portfolio company meets these characteristics, we do adopt a turnover based multiple approach with reference to market comparable data that is available e.g. multiples on recent exit transactions, multiple data that is available online for certain sectors / type of business etc. Judgement can then be applied, based on the facts and circumstances of the particular portfolio company to determine the most appropriate revenue multiple for the purposes of determining Fair Value. In portfolio companies where we have adopted a turnover multiple.\nRevenue multiplier has ranged from 1.5x to 3.0x (mean 2.04x) turnover.\nThe valuation basis for the equity portfolio at the 31 March 2026 is as follows:\n% of equity portfolio",
                    "attrs": {
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                    "id": "p169.4.4",
                    "order": 8,
                    "type": "table_cell",
                    "bbox": {
                        "l": 143.24,
                        "t": 200.83999999999992,
                        "r": 292.556,
                        "b": 54.92399999999998
                    },
                    "text": "Valuation basis\nPrice of recent investment\nTurnover multiple\nEarnings multiple\nAsset valuation\nIndicative offer price\nListed share price\nTotal",
                    "attrs": {
                        "row": 3,
                        "col": 0,
                        "rowspan": 1,
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                    "bbox": {
                        "l": 438.48,
                        "t": 200.83999999999992,
                        "r": 543.036,
                        "b": 54.92399999999998
                    },
                    "text": "(based on volume)\n91.9\n3.6\n0.5\n0.5\n0.5\n3.0\n100.0",
                    "attrs": {
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                        "col": 1,
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Page 170

15 item(s) JSON
footer (1) header (3) table (1) table_cell (10)
Page 170
1 · HEADER
2 · HEADER
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6
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15 · FOOTER
Page 170 JSON
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            "text": "SCOTTISH ENTERPRISE ANNUAL REPORT AND ACCOUNTS 2026",
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            "text": "Notes to the Accounts",
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                    "text": "Valuation approach, key unobservable inputs and relationship between unobservable inputs and fair value",
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                {
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                    "type": "table_cell",
                    "bbox": {
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                    "text": "Financial assets - held at amortised cost",
                    "attrs": {
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                        "rowspan": 3,
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                    }
                },
                {
                    "id": "p170.4.4",
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                    "text": "Fair value is based on amortised cost using the effective interest rate method derived from the anticipated cash flows from the investment over its estimated life.",
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                    "bbox": {
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                    "text": "For loans with interest at below market value, cash flows are discounted to measure fair value. Scottish Enterprise uses the higher of the of the rate intrinsic to the financial instrument and the nominal financial instrument discount rate set by HM Treasury of 2.45% (2025: 2.15%).\nA provision for impairment is established if there is objective evidence that Scottish Enterprise will not be able to collect all amounts due according to the terms of the investment.",
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                    "type": "table_cell",
                    "bbox": {
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                    "text": "Land",
                    "attrs": {
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                },
                {
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                    "type": "table_cell",
                    "bbox": {
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                    },
                    "text": "Fair value of land is derived by analysis of comparable sales evidence and quoted prices of land parcels offering similar characteristics in similar locations to the various land parcels being appraised.\\nConsideration is given to local market forces, developer or occupational demand and competing supply. The assets are valued on a capital rate per acre basis with adjustment made to reflect location, site size, potential phasing of future development and, where appropriate, site servicing costs to unlock the development opportunity.",
                    "attrs": {
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                {
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                    "order": 12,
                    "type": "table_cell",
                    "bbox": {
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                        "r": 100.224,
                        "b": 227.024
                    },
                    "text": "Buildings",
                    "attrs": {
                        "row": 4,
                        "col": 0,
                        "rowspan": 3,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
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                    "order": 13,
                    "type": "table_cell",
                    "bbox": {
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                    "text": "Fair value of the buildings is derived by analysis of comparable sales transactions of properties offering similar characteristics to the assets under consideration. These are generally derived by adopting an income approach by constructing an envisaged cash flow reflecting the rental income stream, vacancy rates and irrecoverable expenditure associated with any period of vacancy prior to re-letting. The resultant valuations are cross checked where appropriate on a capital per square feet basis.",
                    "attrs": {
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                    "text": "Within the portfolio, equivalent yields have typically been in the range 7.5% to 15% with rental voids generally between 6 and 24 months upon individual lease expires. Rental growth has been factored in on a unit by unit basis where evidence supports the contention.\nThe higher the yield, the longer the vacancy period and the lower any rental growth prospects, then the lower the fair value will be.\\nThe lower the yield, the shorter the vacancy period and the greater the rental growth prospects, then the higher the fair value will be.",
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Page 171

13 item(s) JSON
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1 · HEADER
2 · HEADER
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5 · TEXT
6 · TEXT
7 · TABLE
8
9
10
11
12
13
Page 171 JSON
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        {
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            "text": "11. Retirement Benefit Scheme",
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            "text": "Scottish Enterprise operates the Scottish Enterprise Pension & Life Assurance Scheme for colleagues which is a defined benefits scheme that provides benefits in the form of a guaranteed level of pension payable for life. The level of benefits provided depends upon the members' length of service and their final pensionable salary. The assets of the scheme are held separately from those of Scottish Enterprise, being invested by the Trustees of the scheme. There are ten Trustees in total, comprising an independent Chairman, five Trustees appointed by Scottish Enterprise and four nominated by members. The Trustees are responsible for ensuring the scheme is run in accordance with the members' best interests and the pension laws of the United Kingdom, as overseen by the Pensions Regulator."
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            "text": "A full actuarial valuation of the Scottish Enterprise Pension & Life Assurance Scheme was carried out using membership data at 31 March 2023 and the results of that valuation have been projected to 31 March 2026 by Isio, qualified independent actuaries. The next formal valuation will be carried out during 2026-27 based on data at 31 March 2026."
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                    "bbox": {
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                    },
                    "text": "2026\n£000",
                    "attrs": {
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                    "text": "Present value of funded defined benefit obligations\nFair value of plan assets\nRecognised surplus/(deficit) in the scheme",
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                    "text": "(522,803)\n534,152\n11,349",
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                    "text": "(532,756)\n524,506\n(8,250)",
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Page 172

44 item(s) JSON
caption (2) footnote (1) header (3) table (2) table_cell (36)
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7
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12
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14
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16
17
18
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20
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22
23
24
25
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27 · CAPTION
28 · TABLE
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44 · FOOTNOTE
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Page 173

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Page 173
1 · HEADER
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6 · CAPTION
7 · TABLE
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14 · CAPTION
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Page 173 JSON
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                        "l": 518.34,
                        "t": 527.8599999999999,
                        "r": 548.664,
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                    "text": "2025\n£000",
                    "attrs": {
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                        "rowspan": 1,
                        "colspan": 1,
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                    "id": "p173.7.4",
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                    "bbox": {
                        "l": 46.8,
                        "t": 490.23999999999995,
                        "r": 195.156,
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                    "text": "Active members\nVested deferred members\nRetired members",
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                        "col": 0,
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                        "colspan": 1,
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                    "text": "(206,232)\n(73,453)\n(243,118)\n(522,803)",
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                    "bbox": {
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                    "text": "(205,726)\n(74,144)\n(252,886)\n(532,756)",
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            "text": "Expenditure recognised in the Statement of Comprehensive Net Expenditure",
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                "r": 553.0885,
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                    "text": "2026\n£000",
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                    "text": "13,694\n(313)\n1,302\n(29,190)\n29,280\n14,773",
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}

Page 174

35 item(s) JSON
header (3) table (3) table_cell (24) text (5)
Page 174
1 · HEADER
2 · HEADER
3 · HEADER
4 · TEXT
5 · TABLE
6
7
8
9
10
11
12 · TEXT
13 · TEXT
14 · TEXT
15 · TABLE
16
17
18
19
20
21
22 · TEXT
23 · TABLE
24
25
26
27
28
29
30
31
32
33
34
35
Page 174 JSON
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                    "text": "14,683\n90\n14,773",
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                    "attrs": {
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                        "col": 1,
                        "rowspan": 1,
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                    "text": "5.65%",
                    "attrs": {
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                        "col": 2,
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                    "attrs": {
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                    "attrs": {
                        "row": 2,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
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                    "attrs": {
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                        "colspan": 1
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Page 175

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                    "text": "Male member, age 60, retiring today\nFemale member, age 60, retiring today\nMale member, age 40, retiring in 20 years\nFemale member, age 40, retiring in 20 years",
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            "text": "Through its defined benefit pension scheme, Scottish Enterprise is exposed to a number of risks, the most significant of which are noted below:"
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Page 176

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Page 177

41 item(s) JSON
header (3) heading (2) table (2) table_cell (30) text (4)
Page 177
1 · HEADER
2 · HEADER
3 · HEADER
4 · TEXT
5 · TEXT
6 · TABLE
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8
9
10
11
12
13
14
15
16
17
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24 · HEADING
25 · TEXT
26 · HEADING
27 · TABLE
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29
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31
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41 · TEXT
Page 177 JSON
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Page 178

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Page 179

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Page 180

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Page 181

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Page 181
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Page 182

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Page 182
1 · HEADER
2 · HEADER
3 · HEADER
4 · HEADING
5 · TEXT
6 · TABLE
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20 · HEADING
21 · TABLE
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r2c2 (0%): “Joint Developments (i) (ii)”
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Page 183

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header (3) list (1) list_item (4) table (1) table_cell (44)
Page 183
1 · HEADER
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6
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14
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r2c1 (0%): “Joint Developments (i) (ii)”
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                },
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                    "text": "(68)",
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                    "text": "Provisions not required written back",
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                    "text": "(2,455)",
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                {
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                    "bbox": {
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                    "text": "At 31 March\nNon-Current Provisions\nCurrent Provisions\nTotal Provisions at 31 March",
                    "attrs": {
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                        "col": 0,
                        "rowspan": 1,
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                },
                {
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                        "b": 454.26399999999995
                    },
                    "text": "1,081\n1,008\n73\n1,081",
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                        "rowspan": 1,
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                        "bbox_refit": true,
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                },
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                    "text": "2,634\n2,556\n78\n2,634",
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                        "bbox_refit": true,
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                    "text": "3,715\n3,564\n151\n3,715",
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                        "bbox_refit": true,
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                },
                {
                    "id": "p183.4.44",
                    "order": 48,
                    "type": "table_cell",
                    "bbox": {
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                        "b": 454.26399999999995
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                    "text": "5,759\n2,554\n3,205\n5,759",
                    "attrs": {
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                        "col": 4,
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                        "bbox_refit": true,
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            "children": [
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                    "text": "Under a joint development agreement with Falkirk Council, provision is made for costs which may be met from future sale proceeds of the land owned by Scottish Enterprise. The assumption has been made that the balance will carry forward for a further 10 years from the balance sheet date.",
                    "marker": "i)"
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                {
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                    "text": "Under a joint development agreement with South Ayrshire Council, provision was made for potential repayment of funding provided by South Ayrshire Council. It has been confirmed that there is no repayment required and therefore this provision has been written back in the year ending 31 March 2026.",
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                    "text": "Provision has been made for dilapidations across Scottish Enterprise's occupational office accommodation. There are 4 offices with leases expiring between October 2026 and April 2031. An assessment has been made for each office and they have been discounted using the discount rates provided by HM Treasury (December 2025).",
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                    "text": "Playpark equipment purchased at Loch Lomond Shores was funded from a proprietor's sinking fund. The equipment has been capitalised and a corresponding asset repayment provision recognised for the net book value of the equipment should it be disposed of by Scottish Enterprise within its 20-year expected life.",
                    "marker": "iv)"
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}

Page 184

81 item(s) JSON
header (3) heading (1) table (1) table_cell (73) text (3)
Page 184
1 · HEADER
2 · HEADER
3 · HEADER
4 · HEADING
5 · TEXT
6 · TABLE
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81 · TEXT
Page 184 JSON
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                        "b": 312.3771
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                    "text": "(-)",
                    "attrs": {
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                },
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                    "bbox": {
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                    "text": "Present value of obligations\nTotal present value of obligations\nCurrent\nNon-current",
                    "attrs": {
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                    "text": "5\n4,527\n1,238\n3,289",
                    "attrs": {
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                    "text": "26\n2,258\n1,826\n432",
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                    "text": "5\n4,488\n1,199\n3,289",
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                    "text": "10\n1,749\n1,361\n388",
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}

Page 185

69 item(s) JSON
header (3) heading (3) table (3) table_cell (57) text (3)
Page 185
1 · HEADER
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3 · HEADER
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29 · TEXT
30 · TABLE
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59 · HEADING
60 · HEADING
61 · TEXT
62 · TABLE
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Page 186

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Page 187

17 item(s) JSON
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Page 187
1 · HEADER
2 · HEADER
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7 · FIGURE
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9 · TEXT
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15 · FOOTNOTE
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Page 187 JSON
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            "text": "23. Financial Instruments",
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            "text": "Scottish Enterprise has exposure to the following risks from the use of financial instruments:"
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            "text": "This note presents information about the Group and Scottish Enterprise's exposure to each of the above risks. Further quantitative disclosures are included throughout these accounts."
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            "text": "The Executive Leadership Team has overall responsibility for the establishment and oversight of the company's risk management framework. The Audit and Risk Committee oversees how management monitors compliance with Scottish Enterprise's risk management policies and procedures and reviews the adequacy of the risk management framework in relation to risks faced by Scottish Enterprise."
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            "text": "The Group and Scottish Enterprise have no derivative financial assets or liabilities."
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Page 188

53 item(s) JSON
footnote (1) header (3) table (4) table_cell (44) text (1)
Page 188
1 · HEADER
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5 · TABLE
6
7
8
9
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12
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14
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17 · TABLE
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29 · TABLE
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41 · TABLE
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53 · FOOTNOTE
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Page 189

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Page 190

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                        "r": 474.216,
                        "b": 627.8439999999999
                    },
                    "text": "2026\n£000",
                    "attrs": {
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                        "colspan": 1,
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                        "l": 518.28,
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                    "text": "2025\n£000",
                    "attrs": {
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                        "colspan": 1,
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                    "type": "table_cell",
                    "bbox": {
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                        "t": 623.0799999999999,
                        "r": 252.092,
                        "b": 590.164
                    },
                    "text": "Carrying amount\nFinancial assets - other investments",
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                        "row": 2,
                        "col": 0,
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                        "colspan": 1,
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                    "id": "p190.5.13",
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                    "attrs": {
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                    "id": "p190.5.14",
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                    "type": "table_cell",
                    "bbox": {
                        "l": 46.8,
                        "t": 585.4,
                        "r": 269.4,
                        "b": 527.944
                    },
                    "text": "Fair value through profit or loss assets\nAmortised cost assets\nFinancial assets",
                    "attrs": {
                        "row": 3,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
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                },
                {
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                    "type": "table_cell",
                    "bbox": {
                        "l": 292.48,
                        "t": 585.4,
                        "r": 336.064,
                        "b": 552.544
                    },
                    "text": "339,067\n51,505",
                    "attrs": {
                        "row": 3,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
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                },
                {
                    "id": "p190.5.16",
                    "order": 21,
                    "type": "table_cell",
                    "bbox": {
                        "l": 358.6,
                        "t": 585.4,
                        "r": 399.88,
                        "b": 552.544
                    },
                    "text": "414,786\n56,422",
                    "attrs": {
                        "row": 3,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
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                },
                {
                    "id": "p190.5.17",
                    "order": 22,
                    "type": "table_cell",
                    "bbox": {
                        "l": 430.38,
                        "t": 585.4,
                        "r": 474.264,
                        "b": 552.544
                    },
                    "text": "336,802\n51,505",
                    "attrs": {
                        "row": 3,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
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                },
                {
                    "id": "p190.5.18",
                    "order": 23,
                    "type": "table_cell",
                    "bbox": {
                        "l": 508.02,
                        "t": 585.4,
                        "r": 548.64,
                        "b": 552.544
                    },
                    "text": "412,675\n56,422",
                    "attrs": {
                        "row": 3,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
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                },
                {
                    "id": "p190.5.19",
                    "order": 24,
                    "type": "table_cell",
                    "bbox": {
                        "l": 52.44,
                        "t": 523.18,
                        "r": 209.52,
                        "b": 471.484
                    },
                    "text": "Trade and other receivables\nLease receivables\nCash and cash equivalents",
                    "attrs": {
                        "row": 4,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
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                },
                {
                    "id": "p190.5.20",
                    "order": 25,
                    "type": "table_cell",
                    "bbox": {
                        "l": 290.44,
                        "t": 523.18,
                        "r": 336.052,
                        "b": 452.64399999999995
                    },
                    "text": "4,106\n52\n175,645\n570,375",
                    "attrs": {
                        "row": 4,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
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                },
                {
                    "id": "p190.5.21",
                    "order": 26,
                    "type": "table_cell",
                    "bbox": {
                        "l": 355.6,
                        "t": 523.18,
                        "r": 399.904,
                        "b": 452.64399999999995
                    },
                    "text": "4,534\n349\n170,160\n646,251",
                    "attrs": {
                        "row": 4,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
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                },
                {
                    "id": "p190.5.22",
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                    "type": "table_cell",
                    "bbox": {
                        "l": 427.68,
                        "t": 523.18,
                        "r": 474.24,
                        "b": 452.64399999999995
                    },
                    "text": "3,286\n52\n173,635\n565,280",
                    "attrs": {
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                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
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                },
                {
                    "id": "p190.5.23",
                    "order": 28,
                    "type": "table_cell",
                    "bbox": {
                        "l": 501.12,
                        "t": 523.18,
                        "r": 548.676,
                        "b": 452.64399999999995
                    },
                    "text": "3,533\n203\n167,637\n640,470",
                    "attrs": {
                        "row": 4,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
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        },
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            "id": "p190.6",
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            "type": "text",
            "bbox": {
                "l": 41.0317,
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                "r": 371.6851,
                "b": 418.32
            },
            "text": "The ageing of trade and other receivables at 31 March was:"
        },
        {
            "id": "p190.7",
            "order": 30,
            "type": "table",
            "bbox": {
                "l": 41.0317,
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                "r": 552.6086,
                "b": 235.44
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            "text": "",
            "attrs": {
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                    "bbox": {
                        "l": 383.02,
                        "t": 402.08,
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                        "b": 388.00399999999996
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                    "text": "GROUP",
                    "attrs": {
                        "row": 0,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 5,
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                },
                {
                    "id": "p190.7.2",
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                    "bbox": {
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                    "text": "",
                    "attrs": {
                        "row": 1,
                        "col": 0,
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                        "colspan": 1
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                },
                {
                    "id": "p190.7.3",
                    "order": 33,
                    "type": "table_cell",
                    "bbox": {
                        "l": 315.04,
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                        "r": 344.176,
                        "b": 369.164
                    },
                    "text": "2026",
                    "attrs": {
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                        "col": 1,
                        "rowspan": 1,
                        "colspan": 2,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p190.7.4",
                    "order": 34,
                    "type": "table_cell",
                    "bbox": {
                        "l": 464.1,
                        "t": 383.23999999999995,
                        "r": 492.864,
                        "b": 369.164
                    },
                    "text": "2025",
                    "attrs": {
                        "row": 1,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 2,
                        "bbox_refit": true
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                },
                {
                    "id": "p190.7.5",
                    "order": 35,
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                    "bbox": {
                        "l": 41.0317,
                        "t": 368.9067,
                        "r": 143.3471,
                        "b": 349.84
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                    "text": "",
                    "attrs": {
                        "row": 2,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p190.7.6",
                    "order": 36,
                    "type": "table_cell",
                    "bbox": {
                        "l": 281.14,
                        "t": 364.46,
                        "r": 314.812,
                        "b": 331.544
                    },
                    "text": "Gross\n£000",
                    "attrs": {
                        "row": 2,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
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                },
                {
                    "id": "p190.7.7",
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                    "bbox": {
                        "l": 331.06,
                        "t": 364.46,
                        "r": 399.856,
                        "b": 331.544
                    },
                    "text": "Impairment\n£000",
                    "attrs": {
                        "row": 2,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
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                },
                {
                    "id": "p190.7.8",
                    "order": 38,
                    "type": "table_cell",
                    "bbox": {
                        "l": 429.96,
                        "t": 364.46,
                        "r": 463.632,
                        "b": 331.544
                    },
                    "text": "Gross\n£000",
                    "attrs": {
                        "row": 2,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
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                },
                {
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                    "type": "table_cell",
                    "bbox": {
                        "l": 479.88,
                        "t": 364.46,
                        "r": 548.676,
                        "b": 331.544
                    },
                    "text": "Impairment\n£000",
                    "attrs": {
                        "row": 2,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
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                },
                {
                    "id": "p190.7.10",
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                    "bbox": {
                        "l": 46.8,
                        "t": 326.78,
                        "r": 119.844,
                        "b": 312.70399999999995
                    },
                    "text": "Not past due",
                    "attrs": {
                        "row": 3,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p190.7.11",
                    "order": 41,
                    "type": "table_cell",
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                        "l": 284.08,
                        "t": 326.78,
                        "r": 314.74,
                        "b": 312.70399999999995
                    },
                    "text": "4,802",
                    "attrs": {
                        "row": 3,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
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                    "type": "table_cell",
                    "bbox": {
                        "l": 365.44,
                        "t": 326.78,
                        "r": 399.856,
                        "b": 312.70399999999995
                    },
                    "text": "(2,197)",
                    "attrs": {
                        "row": 3,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p190.7.13",
                    "order": 43,
                    "type": "table_cell",
                    "bbox": {
                        "l": 434.34,
                        "t": 326.78,
                        "r": 463.644002,
                        "b": 312.70399999999995
                    },
                    "text": "5,374",
                    "attrs": {
                        "row": 3,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p190.7.14",
                    "order": 44,
                    "type": "table_cell",
                    "bbox": {
                        "l": 513.9,
                        "t": 326.78,
                        "r": 548.7,
                        "b": 312.70399999999995
                    },
                    "text": "(2,031)",
                    "attrs": {
                        "row": 3,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p190.7.15",
                    "order": 45,
                    "type": "table_cell",
                    "bbox": {
                        "l": 46.8,
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                        "b": 293.8639999999999
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                    "text": "Past due 0 to 30 days",
                    "attrs": {
                        "row": 4,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
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                },
                {
                    "id": "p190.7.16",
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                    "type": "table_cell",
                    "bbox": {
                        "l": 287.2,
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                        "b": 293.8639999999999
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                    "text": "1,202",
                    "attrs": {
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                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
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                    "type": "table_cell",
                    "bbox": {
                        "l": 245.6625,
                        "t": 311.7067,
                        "r": 347.9778,
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                    },
                    "text": "-",
                    "attrs": {
                        "row": 4,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p190.7.18",
                    "order": 48,
                    "type": "table_cell",
                    "bbox": {
                        "l": 443.58,
                        "t": 307.93999999999994,
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                        "b": 293.8639999999999
                    },
                    "text": "724",
                    "attrs": {
                        "row": 4,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p190.7.19",
                    "order": 49,
                    "type": "table_cell",
                    "bbox": {
                        "l": 450.2932,
                        "t": 311.7067,
                        "r": 552.6086,
                        "b": 292.64
                    },
                    "text": "-",
                    "attrs": {
                        "row": 4,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p190.7.20",
                    "order": 50,
                    "type": "table_cell",
                    "bbox": {
                        "l": 46.8,
                        "t": 289.15999999999997,
                        "r": 177.324,
                        "b": 275.08399999999995
                    },
                    "text": "Past due 31 to 120 days",
                    "attrs": {
                        "row": 5,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p190.7.21",
                    "order": 51,
                    "type": "table_cell",
                    "bbox": {
                        "l": 296.68,
                        "t": 289.15999999999997,
                        "r": 314.776,
                        "b": 275.08399999999995
                    },
                    "text": "219",
                    "attrs": {
                        "row": 5,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p190.7.22",
                    "order": 52,
                    "type": "table_cell",
                    "bbox": {
                        "l": 245.6625,
                        "t": 292.64,
                        "r": 347.9778,
                        "b": 273.5733
                    },
                    "text": "-",
                    "attrs": {
                        "row": 5,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1
                    }
                },
                {
                    "id": "p190.7.23",
                    "order": 53,
                    "type": "table_cell",
                    "bbox": {
                        "l": 442.44,
                        "t": 289.15999999999997,
                        "r": 463.632,
                        "b": 275.08399999999995
                    },
                    "text": "498",
                    "attrs": {
                        "row": 5,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p190.7.24",
                    "order": 54,
                    "type": "table_cell",
                    "bbox": {
                        "l": 530.52,
                        "t": 289.15999999999997,
                        "r": 548.7,
                        "b": 275.08399999999995
                    },
                    "text": "(31)",
                    "attrs": {
                        "row": 5,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p190.7.25",
                    "order": 55,
                    "type": "table_cell",
                    "bbox": {
                        "l": 46.8,
                        "t": 270.31999999999994,
                        "r": 210.072,
                        "b": 256.2439999999999
                    },
                    "text": "Past due more than 120 days",
                    "attrs": {
                        "row": 6,
                        "col": 0,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p190.7.26",
                    "order": 56,
                    "type": "table_cell",
                    "bbox": {
                        "l": 278.62,
                        "t": 270.31999999999994,
                        "r": 314.8,
                        "b": 237.404
                    },
                    "text": "6,102\n12,325",
                    "attrs": {
                        "row": 6,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p190.7.27",
                    "order": 57,
                    "type": "table_cell",
                    "bbox": {
                        "l": 361.24,
                        "t": 270.31999999999994,
                        "r": 399.88,
                        "b": 237.404
                    },
                    "text": "(6,022)\n(8,219)",
                    "attrs": {
                        "row": 6,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p190.7.28",
                    "order": 58,
                    "type": "table_cell",
                    "bbox": {
                        "l": 429.3,
                        "t": 270.31999999999994,
                        "r": 463.595998,
                        "b": 237.404
                    },
                    "text": "7,319\n13,915",
                    "attrs": {
                        "row": 6,
                        "col": 3,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
                    }
                },
                {
                    "id": "p190.7.29",
                    "order": 59,
                    "type": "table_cell",
                    "bbox": {
                        "l": 510.06,
                        "t": 270.31999999999994,
                        "r": 548.7,
                        "b": 237.404
                    },
                    "text": "(7,319)\n(9,381)",
                    "attrs": {
                        "row": 6,
                        "col": 4,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true,
                        "merged_continuation": true
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                }
            ]
        }
    ],
    "excluded_furniture": {
        "first": [],
        "last": []
    }
}

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header (3) heading (2) table (2) table_cell (62) text (3)
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1 · HEADER
2 · HEADER
3 · HEADER
4 · TABLE
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34 · TEXT
35 · HEADING
36 · TEXT
37 · HEADING
38 · TEXT
39 · TABLE
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Page 191 JSON
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Page 192

13 item(s) JSON
header (3) heading (1) table (1) table_cell (4) text (4)
Page 192
1 · HEADER
2 · HEADER
3 · HEADER
4 · TEXT
5 · TEXT
6 · TABLE
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8
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10
11 · HEADING
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                    "text": "31 March 2025\n31 March 2026",
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Page 193

40 item(s) JSON
caption (1) header (3) heading (1) table (2) table_cell (31) text (2)
Page 193
1 · HEADER
2 · HEADER
3 · HEADER
4 · HEADING
5 · TEXT
6 · TABLE
7
8
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10
11
12
13
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19
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21
22
23 · CAPTION
24 · TABLE
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26
27
28
29
30
31
32
33
34
35
36
37
38
39
40 · TEXT
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            "text": "Financial assets held at fair value through profit and loss are not being actively marketed and there is no expectation that completed sales will occur within one year."
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Page 194

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            "text": "Notes to the Accounts",
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            "text": "Fair value hierarchy",
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            "text": "The following methods and assumptions were used to estimate fair values:"
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            "text": "24. Related Party Transactions\nScottish Government",
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Page 195

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            "text": "Scottish Enterprise and its subsidiaries has had material transactions with the Scottish Government."
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            "text": "In addition, Scottish Enterprise and its subsidiaries, has had material transactions with other Scottish Government Departments, central government bodies and other non-departmental bodies."
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            "text": "During the year, material transactions have taken place with:"
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            "text": "Scottish Enterprise also considers members of the Board and the Executive Leadership Team to be related parties."
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            "text": "During the year Scottish Enterprise received income from Quality Meat Scotland, an entity in which a close family member of Rhona Allison, Executive Leadership Member of Scottish Enterprise, holds significant influence. This amounted to £38,850 in relation to a contribution to the Scottish Food and Drink Export Plan. All transactions are conducted at arm's length and Rhona Allison has no interaction with Quality Meat Scotland or with this transfer."
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            "text": "The Scottish Enterprise Pension & Life Assurance Scheme is also regarded as a related party. Full details of the Scheme and employer contributions made are included in Note 11."
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            "text": "Scottish Enterprise is regarded as the parent company of the subsidiary undertakings disclosed in Note 9. Transactions with subsidiary undertakings are eliminated on consolidation, during the year the following transactions have taken place:"
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            "text": "i. Scottish Enterprise provided operational funding to Scotland Europa Limited, ITI Scotland Limited and SCTR Limited of £1,499,206, £65,647, and £14,723 respectively. This has been recorded as operating expenditure within the Scottish Enterprise figures in Note 1. Scottish Enterprise has also provided a letter of support to the auditors of these subsidiary companies to confirm that operational funding will continue to be provided for a period of no less than twelve months from the date the financial statements are signed, for the year ended 31 March 2026."
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Page 196

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Page 197

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Page 198

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Page 199

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Page 200

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Page 200
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Page 201

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Page 201
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1 · HEADER
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41 · TABLE
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Page 203

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Page 203 JSON
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Page 204

94 item(s) JSON
header (3) table (1) table_cell (90)
Page 204
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Page 205

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Page 205 JSON
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Page 206

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Page 207

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Page 207
1 · HEADER
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Page 208

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r17c0 (25%): “Scottish-European Growth Co-Investment Programme”
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}

Page 209

28 item(s) JSON
header (2) table (2) table_cell (23) text (1)
Page 209
1 · HEADER
2 · HEADER
3 · TEXT
4 · TABLE
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11
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20 · TABLE
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Page 209 JSON
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Page 210

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Page 211

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                    "text": "Percentage of voting rights held"
                },
                {
                    "id": "p212.4.3",
                    "order": 7,
                    "type": "list_item",
                    "bbox": {
                        "l": 87.3424,
                        "t": 709.48,
                        "r": 532.2127,
                        "b": 678.24
                    },
                    "text": "Amount invested in shares (distinguishing between ordinary and preference shares)"
                },
                {
                    "id": "p212.4.4",
                    "order": 8,
                    "type": "list_item",
                    "bbox": {
                        "l": 87.8223,
                        "t": 674.8,
                        "r": 332.0931,
                        "b": 659.04
                    },
                    "text": "Amount of loan given to each company",
                    "marker": "•"
                },
                {
                    "id": "p212.4.5",
                    "order": 9,
                    "type": "list_item",
                    "bbox": {
                        "l": 87.8223,
                        "t": 656.98,
                        "r": 408.1577,
                        "b": 641.28
                    },
                    "text": "Any other commitments in respect of each company",
                    "marker": "•"
                },
                {
                    "id": "p212.4.6",
                    "order": 10,
                    "type": "list_item",
                    "bbox": {
                        "l": 57.1085,
                        "t": 627.12,
                        "r": 528.1335,
                        "b": 578.4
                    },
                    "text": "In respect of companies in which Scottish Enterprise Network holds less than 20% of the voting rights but where the total investment (including loans) is in excess of £1,000,000:",
                    "marker": "II."
                },
                {
                    "id": "p212.4.7",
                    "order": 11,
                    "type": "list_item",
                    "bbox": {
                        "l": 88.0622,
                        "t": 570.52,
                        "r": 214.7567,
                        "b": 554.64
                    },
                    "text": "Name of company"
                },
                {
                    "id": "p212.4.8",
                    "order": 12,
                    "type": "list_item",
                    "bbox": {
                        "l": 88.0622,
                        "t": 552.6999999999999,
                        "r": 233.233,
                        "b": 537.6
                    },
                    "text": "Nature of its business",
                    "marker": "-"
                },
                {
                    "id": "p212.4.9",
                    "order": 13,
                    "type": "list_item",
                    "bbox": {
                        "l": 88.3022,
                        "t": 534.9399999999999,
                        "r": 286.9822,
                        "b": 519.36
                    },
                    "text": "Percentage of voting rights held"
                },
                {
                    "id": "p212.4.10",
                    "order": 14,
                    "type": "list_item",
                    "bbox": {
                        "l": 87.1024,
                        "t": 517.1199999999999,
                        "r": 531.9728,
                        "b": 485.28
                    },
                    "text": "Amount invested in shares (distinguishing between ordinary and preference shares)"
                },
                {
                    "id": "p212.4.11",
                    "order": 15,
                    "type": "list_item",
                    "bbox": {
                        "l": 87.5823,
                        "t": 482.43999999999994,
                        "r": 332.0931,
                        "b": 466.56
                    },
                    "text": "Amount of loan given to each company",
                    "marker": "•"
                },
                {
                    "id": "p212.4.12",
                    "order": 16,
                    "type": "list_item",
                    "bbox": {
                        "l": 87.5823,
                        "t": 464.61999999999995,
                        "r": 408.3977,
                        "b": 448.32
                    },
                    "text": "Any other commitments in respect of each company",
                    "marker": "-"
                },
                {
                    "id": "p212.4.13",
                    "order": 17,
                    "type": "list_item",
                    "bbox": {
                        "l": 65.5068,
                        "t": 434.4,
                        "r": 415.5962,
                        "b": 419.76
                    },
                    "text": "In respect of all other investments by Scottish Enterprise:",
                    "marker": "III."
                },
                {
                    "id": "p212.4.14",
                    "order": 18,
                    "type": "list_item",
                    "bbox": {
                        "l": 87.5823,
                        "t": 411.91999999999996,
                        "r": 315.0565,
                        "b": 396.48
                    },
                    "text": "Total number of companies involved",
                    "marker": "•"
                },
                {
                    "id": "p212.4.15",
                    "order": 19,
                    "type": "list_item",
                    "bbox": {
                        "l": 88.0622,
                        "t": 394.15999999999997,
                        "r": 235.8725,
                        "b": 378.96
                    },
                    "text": "Total amount invested"
                },
                {
                    "id": "p212.4.16",
                    "order": 20,
                    "type": "list_item",
                    "bbox": {
                        "l": 88.3022,
                        "t": 376.34,
                        "r": 265.6265,
                        "b": 360.24
                    },
                    "text": "Total amount of loans given"
                },
                {
                    "id": "p212.4.17",
                    "order": 21,
                    "type": "list_item",
                    "bbox": {
                        "l": 88.0622,
                        "t": 358.52,
                        "r": 333.2928,
                        "b": 342.48
                    },
                    "text": "Total amount of any other commitment"
                }
            ]
        }
    ],
    "excluded_furniture": {
        "first": [],
        "last": []
    }
}