32816-Lucy-Group-AR-2025 web ready spreads_FINAL

Notes to the Accounts continued

FINANCIAL STATEMENTS

4. Operating profit

6. Finance income and costs

2025 £000

2024 £000

2025 £000

2024 £000

a) Operating profit is stated after charging:

Finance income

6,949

984

Depreciation of tangible fixed assets Amortisation of intangible fixed assets (Gain)/loss on disposal of fixed assets

5,987

Pension finance income Income from investments

768

705

35

829 165

42

(44)

3,769 4,788

Interest received

2,945 3,755

Operating lease rentals Plant and machinery

169 620

Finance costs Bank interest Lease interest

160 750

873 322 147

Land and buildings

1,069

15,949 1,836 2,335

Research and development

13,045

273 328

Loss/(gain) on translation of foreign currency

(235)

Foreign currency losses

10

Directors' remuneration (see note 32)

2,024

Tax penalties Other expense

65

39

479

Hire of plant

118

–

1,831

1,735

b) Operating profit is stated after crediting: Rental income

7. Tax on profit on ordinary activities

10,965 (4,691)

9,883

Less related expenses

(4,497)

2025 £000 4,705 4,614 9,319

2024 £000

6,274

5,386

Current tax

Current year UK tax

7,229 6,456 13,685 (1,382)

c) Auditors’ remuneration: Audit of these financial statements

Current year overseas tax Current year tax charge

41

39

243 284

Audit of financial statements of subsidiaries

216 255

735 302

Adjustments in respect of prior periods UK Adjustments in respect of prior periods overseas

Total audit fee

61

86

Amounts received by Auditors and subsidiary Auditors in respect of other services

66

Total current tax

10,356

12,364

Deferred tax Origination and reversal of timing differences Adjustments in respect of prior periods

7

Fees in respect of and borne by the W Lucy Pension scheme

6

1,105

673 160 101 934

5. Employee remuneration Expenses recognised for employee benefits are analysed below:

66

(2,054)

(Recognition)/derecognition of previously (unrecognised)/recognised deferred tax assets

Total deferred tax (credit)/charge

(883)

2025 £000

2024 £000

Total tax on profit on ordinary activities

9,473

13,298

68,083 4,666 3,938 76,687

Wages and salaries Social security costs

60,619 3,889

Pension costs

3,708

68,216

The average number of permanent employees during the year was 1,899 (2024: 1,802) of which 204 were administrative (2024: 181).

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Lucy Group Ltd Annual Report & Accounts 2025

LUCYGROUP.COM

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