195

Scottish Enterprise and its subsidiaries has had material transactions with the Scottish Government.

In addition, Scottish Enterprise and its subsidiaries, has had material transactions with other Scottish Government Departments, central government bodies and other non-departmental bodies.

During the year, material transactions have taken place with:

Forestry and Land Scotland Highlands and Islands Enterprise

Skills Development Scotland South of Scotland Enterprise

Board and Executive Leadership Team

Scottish Enterprise also considers members of the Board and the Executive Leadership Team to be related parties.

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.

Pension & Life Assurance Scheme

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.

Subsidiary Undertakings

  • 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:
  • 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.