196

  • ii. Scottish Enterprise made payments on behalf of Loch Lomond Shores Management Company Limited of £34,072 and Loch Lomond Shores Management Company Limited repaid £91,715 to Scottish Enterprise. This decreased the inter-company balance due to Scottish Enterprise by Loch Lomond Shores Management Company to £146,825. As disclosed in Note 16, Trade and Other Receivables.

25. Board Members Interests

During the year, Scottish Enterprise engaged in transactions with organisations in which board members had declared an interest. All transactions were conducted at arm's length and in accordance with standard project and programme governance procedures.

  • Bellrock Technology Limited, a company in which Professor Stephen McArthur is a director and shareholder, received £137,748 for the delivery of an AI Readiness programme and £4,152 for key note speaker at Rural AI event.
  • Centre for Process Innovation Limited (trading as CPI), a company in which Greig Rooney is employed as Managing Director for Pharma and Health Tech, received £1,941,484 grant funding towards the construction of the Oligonucleotide Manufacturing Centre of Excellence.
  • Dr Poonam Malik is a member (via syndication) of EOS Advisory LLP, Equity Gap Limited, and Kelvin Capital, which are early-stage investment vehicles that co-invest alongside Scottish Enterprise. During the year, Scottish Enterprise paid investment arrangement fees of £16,879, £41,480 and £37,978 respectively to these entities.
  • Microplate DX Limited, chaired by Dr Poonam Malik, received £105,053 in grant support and a £349,995 investment in the form of Convertible Loan Note.
  • Professor Sir Jim McDonald KT, GBE is a non-executive director of Scottish Power Limited and a non-executive director and chair of Scottish Power Renewables. Glasgow Science Centre Charitable Trust Limited received £17,500 from Scottish Power Limited as funding for Free School Access, and fees of £559,931 from Scottish Power Renewables for managing the Whitelee Windfarm Visitor Centre on their behalf. This contract is based on a full cost recovery arrangement, with no cost or profit to Glasgow Science Centre Charitable Trust Limited.

These transactions were subject to the organisation's standard due diligence and approval processes to ensure transparency and compliance.

Scottish Enterprise transacted with the following public bodies, academic institutes and other organisations in which a board member has a non-financial interest: