Company No: SC282848 (Scotland)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Charles Richard Boscawen
	Julius Fergus Chamberlain
	Robert Hugo Chamberlain

SECRETARY

Charles Richard Boscawen

REGISTERED OFFICE	16 Charlotte Square
	Edinburgh
	Midlothian
	EH2 4DF
	United Kingdom

COMPANY NUMBER

SC282848 (Scotland)

CHARTERED ACCOUNTANTS	Dixon Wilson
	22 Chancery Lane
	London
	WC2A 1LS

	Note	2021		2020
		£		£
Fixed assets
Tangible assets	4	111,998		173,885
Investment property	5	845,000		845,000
Investments	6	52,236,829		49,809,224
		53,193,827		50,828,109
Current assets
Debtors	7	674,068		3,240,564
Cash at bank and in hand		3,364,402		2,204,922
		4,038,470		5,445,486
Creditors
Amounts falling due within one year	8	( 132,043)		( 463,874)
Net current assets		3,906,427		4,981,612
Total assets less current liabilities		57,100,254		55,809,721
Provision for liabilities	9	( 2,949,548)		( 2,809,101)
Net assets		54,150,706		53,000,620
Capital and reserves
Called-up share capital		11,229		11,229
Share premium account		36,967,775		36,967,775
Capital redemption reserve		96,380		96,380
Profit and loss account		17,075,322		15,925,236
Total shareholders' funds		54,150,706		53,000,620

For the financial year ending 31 December 2021 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Bamboo Holdings Limited (registered number: SC282848) were approved and authorised for issue by the Board of Directors on 22 December 2022. They were signed on its behalf by:

Charles Richard Boscawen Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Bamboo Holdings Limited (the Company) is a private company, limited by shares, incorporated in Scotland. The address of the Company's registered office is 16 Charlotte Square, Edinburgh, Midlothian, EH2 4DF, United Kingdom.

The financial statements have been prepared under the historical cost convention except that as disclosed below certain items were carried at fair value.

The financial statements are presented in Sterling which is the functional currency of the company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise.

Revenue recognition

Interest is recognised in the period in which it is earned. Dividends are recognised in the period in which the company becomes entitled to the dividend.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible assets are stated at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreciation is provided on all tangible fixed assets, other than investment property, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Vehicles

5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate, adjusted if necessary for any difference in the nature, location, or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Fixed asset investments

Investments in equity shares and other securities which are publicly traded, or where the fair value can be measured reliably, are initially measured at fair value. Changes in fair value are recognised in the profit and loss account.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Ordinary share capital

The ordinary share capital of the Company is presented as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

2. Employees

	2021		2020
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	1		1

3. Dividends on equity shares

	2021		2020
	£		£
Amounts recognised as distributions to equity holders in the financial year:
Interim dividend for the financial year ended 31 December 2021 of £50.56 (2020: £213.73) per ordinary share	567,738		2,399,974

4. Tangible assets

	Vehicles		Total
	£		£
Cost
At 01 January 2021	309,435		309,435
At 31 December 2021	309,435		309,435
Accumulated depreciation
At 01 January 2021	135,550		135,550
Charge for the financial year	61,887		61,887
At 31 December 2021	197,437		197,437
Net book value
At 31 December 2021	111,998		111,998
At 31 December 2020	173,885		173,885

5. Investment property

	Investment property
	£
Valuation
As at 01 January 2021	845,000
As at 31 December 2021	845,000

The investment property was valued by the directors on 31 December 2021. The basis of the valuation was open market, and the property has a current value of £845,000 (2020 - £845,000) and a carrying amount at historical cost of £806,146 (2020 - £806,146).

6. Fixed asset investments

	Listed investments		Other investments		Total
	£		£		£
Carrying value before impairment
At 01 January 2021	43,121,269		6,687,955		49,809,224
Additions	8,067,973		1,039,710		9,107,683
Disposals	( 10,102,701)		( 999,347)		( 11,102,048)
Movement in fair value	3,157,874		1,264,096		4,421,970
At 31 December 2021	44,244,415		7,992,414		52,236,829
Provisions for impairment
At 01 January 2021	0		0		0
At 31 December 2021	0		0		0
Carrying value at 31 December 2021	44,244,415		7,992,414		52,236,829
Carrying value at 31 December 2020	43,121,269		6,687,955		49,809,224

7. Debtors

	2021		2020
	£		£
Amounts owed by related parties	0		1,707,000
Other debtors	674,068		1,533,564
	674,068		3,240,564

8. Creditors: amounts falling due within one year

	2021		2020
	£		£
Taxation and social security	0		334,944
Other creditors	132,043		128,930
	132,043		463,874

9. Provision for liabilities

	Deferred taxation		Total
	£		£
At 01 January 2021	2,809,101		2,809,101
Charged to the Profit and Loss Account	140,447		140,447
At 31 December 2021	2,949,548		2,949,548

10. Related party transactions

During the year, donations totalling £3,150,000 (2020 - £932,531) were made to a charity of which three of the company's directors were also trustees. At the balance sheet date the amount due to the charity was £nil (2020 - £nil).

The company had made a loan to the ultimate controlling party, a settlement that owned a controlling stake in the company. The full balance was repaid during the year. At the balance sheet date the amount due to the company was £nil (2020 - £1,707,000).

11. Events after the Balance Sheet date

On 28 March 2022 , 249,975 Ordinary shares allotted in the company in exchange for a transfer of Ordinary shares in Immodulon Therapeutics Limited.

12. Ultimate controlling party

Parent Company:

Brambling Holdings Limited

Providence House 141-145 Princes Street Ipswich IP1 1QJ England United Kingdom