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

Notes to the Company Accounts continued

FINANCIAL STATEMENTS

2. Profit for the financial year The Company profit for the year after taxation is £31.8m (2024: £45.4m). 3. Intangible assets

5. Investment property Investment property represents real estate properties in the UK, which are owned to earn rentals and for capital appreciation. Note 27 of the Group accounts (Financial Instruments) sets out how the fair value of the investment properties has been determined. Changes to the carrying amounts are as follows:

Licences and software £000

Gross carrying amount

At 1 January 2025

1,550

2025 £000

2024 £000

Additions

14

At 31 December 2025

1,564

168,896

Carrying amount 1 January

165,939

5,815

Additions Disposals

616

Amortisation At 1 January 2025 Charge for year

–

(60)

1,519

6,008

Revaluation

2,401

32

Carrying amount 31 December 168,896 Freehold land and buildings which had a value of £53.5m in 2020 have been pledged to secure borrowings of the Company (see note 11). 6. Other investments 180,719

At 31 December 2025

1,551

Net book value At 31 December 2025 At 31 December 2024

13 31

2025 £000

2024 £000

4. Property, plant and equipment

15,000

Deposit over 90 days Equity securities: listed Group undertakings

30,453 2,928 59,416 47,985 140,782

Freehold land and buildings £000

3,187

Fixtures and fittings £000

Motor vehicles £000

91,588 46,684 156,459

Total £000

Loans to Group undertakings

Cost or valuation

At 1 January 2025

2,794

5,563

490

8,847

Additions Disposals

16

407

24

447

At 31 December 2025 there were two deposits held with one investment grade bank (2024: four deposits with two investment grade banks). Investments in subsidiaries have been written down to the company net asset value at the year end. Total impairments to investments in subsidiaries were £7.5m (2024: £4.1m), total write backs were £5.8m (2024: £7.2m), additions were £33.9m (2024: £11.1m) and disposals were £nil (2024: £nil) in the year. Quoted investments are classified as available for sale and are recorded at fair value.

–

(357)

(40)

(397)

At 31 December 2025

2,810

5,613

474

8,897

Depreciation At 1 January 2025 Charge for year

547

4,504

386

5,437

56

321

65

442

Disposals

–

(357)

(40)

(397)

At 31 December 2025

603

4,468

411

5,482

Net book value At 31 December 2025 At 31 December 2024

2,207 2,247

1,145 1,059

63

3,415 3,410

104

142

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Lucy Group Ltd Annual Report & Accounts 2025

LUCYGROUP.COM

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