LucyGroup-ARA2024_spreads web ready_FINAL

NOTES TO THE ACCOUNTS CONTINUED

BUSINESS OVERVIEW STRATEGIC REPORT CORPORATE GOVERNANCE FINANCIAL STATEMENTS SHAREHOLDER INFORMATION

12. Property, plant and equipment

14. Right-of-use assets a) The Group leases a number of fixed assets, and property, plant and equipment (Note 12) includes £3.2m right-of-use assets that are leased. Details are shown below:

Land and buildings £000

Plant and equipment £000

Fixtures and fittings £000

Motor vehicles £000

Total £000

Cost or valuation

Machinery & equipment £000

At 1 January 2023

30,466

41,409

17,369

4,566

93,810

Property £000

Vehicles £000

Total £000

Right-of-use asset additions

661

–

–

797 269

1,458

Right-of-use assets

Additions Disposals

8,037

3,467

1,174

12,947 (1,781) (3,422) 103,012

Cost At 1 January 2024

(260)

(615)

(512) (547)

(394) (102)

7,812

2,096

634

10,542

Translation differences

(1,082) 37,822

(1,691) 42,570

Additions Disposals

616

557

– – –

1,173

At 1 January 2024

17,484

5,136

(448)

(232)

(680)

Right-of-use asset additions

616

–

–

557 527

1,173

Translation differences

(52)

37

(15)

Additions Disposals

6,006

7,664

1,058

15,255 (2,738)

At 31 December 2024

7,928

2,458

634

11,020

(263)

(1,165)

(951)

(359)

Translation differences At 31 December 2024

85

199

38

29

351

Depreciation At 1 January 2024

44,266

49,268

17,629

5,890

117,053

5,090 1,343

847 430

634

6,571 1,773

Depreciation charge for the year

– – –

Depreciation At 1 January 2023 Charge for year

Disposals

(382)

(148)

(530)

13,068

31,840

15,288

2,769

62,965

Translation differences

16

(53)

(37)

1,536

2,390

1,317

693

5,936

At 31 December 2024

6,067

1,076

634

7,777

Disposals

(205) (468)

(515)

(501) (425)

(300)

(1,521) (2,181)

Translation differences

(1,219) 32,496

(69)

Net book value At 31 December 2024 At 31 December 2023

At 1 January 2024 Charge for year

13,931

15,679

3,093

65,199

1,861 2,722

1,382 1,249

– –

3,243 3,971

1,536

2,352

1,324

775

5,987

Disposals

(263)

(895)

(871)

(275)

(2,304)

Translation differences At 31 December 2024

43

245

56

21

365

b) Lease liabilities

15,247

34,198

16,188

3,614

69,247

2024 £000

2023 £000

Net book value At 31 December 2024 At 31 December 2023 At 31 December 2022

29,019 23,891 17,398

15,070 10,074

1,441 1,805 2,081

2,276 2,043 1,797

47,806 37,813 30,845

Maturity analysis – undiscounted cash flows Less than one year

1,578 1,401

1,913 1,689

9,569

One-to-five years More than five years

404

820

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 26 ‘Financial instruments’ sets out how the fair value of the investment properties has been determined. Changes to the carrying amounts are as follows:

3,383

4,422

Lease liabilities – discounted value of lease payments Current

1,525 1,291 2,816

1,453 2,152 3,605

Non-current

c) Amounts recognised in the Income Statement

2024 £000

2023 £000

2024 £000

2023 £000

159,734

Carrying amount 1 January

160,597

333

Additions

2,302

273

Interest on leased right-of-use assets

313

(60)

Write-off of construction costs and professional fees

–

–

Disposals

(715)

2,361

Valuation gain/(loss)

(2,450)

162,368

Carrying amount 31 December

159,734

Freehold land and buildings valued by HSBC at £53.5m in 2020 have been charged to secure borrowings of the Company (see Note 25).

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Lucy Group Ltd Annual Report & Accounts 2024

LUCYGROUP.COM

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