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

Notes to the Accounts continued

FINANCIAL STATEMENTS

10. Goodwill continued The components of goodwill are:

12. Property, plant and equipment

Land and buildings £000

Plant and equipment £000

Fixtures and fittings £000

Motor vehicles £000

Total £000

2025 £000

2024 £000

Cost or valuation

At 1 January 2024

37,822

42,570

17,484

5,136

103,012

3,164

Flashnet SA

3,164

Right-of-use asset additions

616

–

–

557 527

1,173

352

Lucy Equipamentos Eletricos Ltda Lucy Electric Digital Solutions Limited

352 162

Additions Disposals

6,006

7,664 (1,165)

1,058

15,255 (2,738)

–

(263)

(951)

(359)

6,912

Blakley Electrics Limited

–

Translation differences

85

199

38

29

351

10,428

3,678

At 1 January 2025

44,266

49,268

17,629

5,890

117,053 5,183 8,682 10,873 (5,746) (5,018) 131,027

Right-of-use asset additions

4,461 3,218 9,612

332

–

390 250 138

11. Other intangible assets

Additions

3,573 1,020

1,641

Acquisition of subsidiary undertaking

103

Licences and software £000

Product development £000

Disposals

(2,966) (2,012)

(1,067) (2,420)

(1,182)

(531) (113)

Total £000

Translation differences At 31 December 2025

(473)

Gross carrying amount

56,579

50,706

17,718

6,024

At 1 January 2024

4,438

3,633

8,071

Depreciation At 1 January 2024 Charge for year

Additions Disposals

12

– –

12

13,931 1,536

32,496

15,679

3,093

65,199

(87)

(87) (41)

2,352

1,324

775

5,987

Translation differences

(4)

(37)

Disposals

(263)

(895)

(871)

(275)

(2,304)

At 1 January 2025

4,359

3,596

7,955

Translation differences

43

245

56

21

365

Additions Disposals

123

– –

123

At 1 January 2025 Charge for year

15,247

34,198

16,188

3,614

69,247 6,949 (4,895) (2,467)

(5)

(5)

1,706

2,813

1,561

869

Translation differences At 31 December 2025

(51)

149

98

Disposals

(2,507)

(842)

(1,153)

(393)

4,426

3,745

8,171

Translation differences At 31 December 2025

(607)

(1,396)

(387)

(77)

Amortisation At 1 January 2024 Charge for year

13,839

34,773

16,209

4,013

68,834

4,237

1,369

5,606

78

751

829

Net book value At 31 December 2025 At 31 December 2024 At 31 December 2023

Disposals

(13)

(53)

(66)

42,740 29,019 23,891

15,933 15,070 10,074

1,509 1,441 1,805

2,011 2,276 2,043

62,193 47,806 37,813

Translation differences

(4)

(212)

(216)

At 1 January 2025 Charge for year

4,298

1,855

6,153

69

636

705

Disposals

–

–

–

13. Investment property Investment property includes residential, commercial, industrial and agricultural properties in the UK, which are owned, managed and let to earn rentals and for capital appreciation. Note 27 ‘Financial instruments’ sets out how the fair value of the investment properties has been determined. Changes to the carrying amounts are as follows:

Translation differences At 31 December 2025

(51)

63

12

4,316

2,554

6,870

Net book value At 31 December 2025 At 31 December 2024 At 31 December 2023

110

1,191 1,741 2,264

1,301 1,802 2,465

61

2025 £000

2024 £000

201

162,368

Carrying amount 1 January

159,734

1,915

Additions

333

– –

Write-off of construction costs and professional fees

(60)

Disposals

–

5,938

Valuation gain

2,361

170,221

Carrying amount 31 December

162,368

Freehold land and buildings valued by HSBC at £53.5m in 2020 have been charged to secure borrowings of the Company (see note 26).

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Lucy Group Ltd Annual Report & Accounts 2025

LUCYGROUP.COM

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