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

Notes to the Company Accounts continued

FINANCIAL STATEMENTS

6. Other investments continued

8. Trade and other payables – current

2025 £000

2024 £000

2025 £000

2024 £000

Group undertakings

160

Trade payables

119

24,928 13,390 11,898 11,537 4,882 4,793 4,542 3,560 2,968 2,286 1,654 1,610 1,199

Blakley Electrics Limited Lucy Electric (EMS) Limited Lucy Electric India (Pvt) Limited

–

22,124 1,508

Amounts owed to Group undertakings

12,502

11,044 10,077 11,537 4,882 4,118 4,376 3,880 2,968

Corporation tax payable

677 260

314

Social security and other taxes Accruals and deferred income

Lucy Electric UK Limited

5,359 1,216

4,705 1,265 19,528

Lucy Electric Manufacturing & Technologies India (Pvt) Limited

Other payables

Flashnet SA

30,681

Lawson Fuses Limited

Lucy Electric (Thailand) Limited

9. Provisions All provisions are considered current. The carrying amounts and the movements in the provision account are as follows:

Lucy Asia Pacific SDN BHD

Lucy Electric EV Infrastructure Limited Lucy Electric Energy Services Limited Lucy Equipamentos Eletricos Ltda Lucy Electric South Africa (Pty) Limited Lucy Electric Digital Solutions Limited

– –

Restructuring costs £000

Warranty provision £000

90

Other £000

Total £000

–

878 534 510 210 174

5,096

Carrying amount 1 January 2025

135

10

268

413

Lucy Switchgear FZE Lucy Zodion Limited

534 533

Provided in year Released in year Charge in year

–

– – –

–

–

(135)

(70)

(205)

Lucy Electric Australasia Pty Limited

39

– –

–

–

Lucy Middle East FZE

174

Carrying amount 31 December 2025

10

198

208

34

Lucy Electric Beijing Co Limited Lucy Developments Limited Power Connectors Limited

67

1

1

10. Deferred tax Deferred taxes arising from temporary differences and unused tax losses are summarised as follows:

–

–

91,588

59,416

Unquoted equity investments The Company holds a 30% shareholding in the Saudi Lucy Company Limited, a company registered in Saudi Arabia. 7. Trade and other receivables

2025 £000

2024 £000

23,147

Investment properties

21,882

417

Fixed asset temporary differences Other temporary differences

99

(696)

6

2025 £000

2024 £000

22,868

21,987

274

Trade receivables

402

11. Borrowings The Company’s committed loan facilities at the year end were £43.0m, and these were utilised as follows:

5,365

Amounts owed by Group undertakings

3,735

54

Rent debtors

77

1,901

Prepayments and accrued income

1,791 1,668 7,673

2025 £000

586

Other receivables

Facilities

Repayable

8,180

Revolving facilities Secured £23m revolving multi-currency loan at 1.40% above SONIA Secured £20m revolving multi-currency loan at 1.50% above SONIA

7,421

31 March 2027 31 March 2028

–

Other Exchange loss on foreign currency borrowings

167 7,588

144

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Lucy Group Ltd Annual Report & Accounts 2025

LUCYGROUP.COM

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