LucyGroup-ARA2024_spreads web ready_FINAL

NOTES TO THE ACCOUNTS CONTINUED

BUSINESS OVERVIEW STRATEGIC REPORT CORPORATE GOVERNANCE FINANCIAL STATEMENTS SHAREHOLDER INFORMATION

15. Other financial assets

17. Inventories

2024 £000

2023 £000

2024 £000

2023 £000

61,984

Non-current: Equities, other quoted investments and bonds

Raw materials and components

55,932

2,981

1,816

2,626

Work in progress Finished goods

816

17,259

15,381

Quoted investments are measured at fair value through Other Comprehensive Income.

Development land and buildings: Land

1,817

4,106

2024 £000

2023 £000

21,467

Developments in progress Finished properties for sale

20,948

5,845

2,141

110,188

99,324

Current: Deposits over 90 days

30,453

10,000

18. Trade and other receivables

At 31 December 2024, there were four deposits held with two separate investment grade banks (2023: one deposit with one investment grade bank). 16. Principal Group undertakings

2024 £000

2023 £000

Current receivables Trade receivables

53,579

55,031

Proportion of ownership interests held by the Group at year end

77

Rent receivables

35

1,586

Advances to suppliers

1,681

134

Corporation tax receivable

495

2024 %

2023 %

Country of incorporation Principal activity

7,801 6,427

Prepayments and accrued income

8,156 6,317

Company

Other receivables

100 100

Lucy Electric UK Limited Lucy Zodion Limited

England England

Manufacture and sale of switchgear Design, development, manufacture and sale of lighting products Switchgear product design, development and management services Supply of switchgear monitoring systems and services Design, development, manufacture and sale of fuses Marketing and sale of switchgear Manufacture and sale of switchgear Manufacture and sale of switchgear Manufacture of switchgear and lighting products Manufacture and sale of fuses Marketing and sale of switchgear Design, development, manufacture and sale of smart lighting and smart city control systems Property development Marketing of switchgear

100 100

69,604

Total current receivables

71,715

Non-current receivables Other receivables Total non-current receivables

100

Lucy Electric (EMS) Limited

England

100

194 194

554 554

100 100

Lucy Developments Limited Lucy Electric Gridkey Limited

England England

100 100

Total receivables

69,798

72,269

19. Derivative financial instruments

100

Lawson Fuses Limited

England

100

100 100 100 100 100

Lucy Electric Australasia Pty Ltd Lucy Equipamentos Eletricos Ltda Lucy Electric Beijing Company Limited Lucy Electric India (Private) Limited

Australia

100 100 100 100 100

2024

2023

Brazil China

Asset £000

Liability £000

Asset £000

Liability £000

India India

Designated hedge relationships: Foreign exchange contracts

Lucy Electric Manufacturing and Technologies India (Private) Limited

– – –

87

56

– – –

100 100

Lawson Lucy India (Private) Limited

India

100 100

505 592

Commodity contracts

153 209

Lucy Asia Pacific SDN BHD

Malaysia Romania

80

Flashnet SA

80

These amounts are included within the disclosure in note 26 - Financial instruments and risk management.

100 100

Lucy Switchgear Arabia Company Limited Lucy Electric MENA Regional Headquarters

Saudi Arabia Manufacture and sale of switchgear Saudi Arabia Regional headquarters for Middle East and North Africa South Africa Marketing and sale of switchgear

100 100

75

Lucy Electric South Africa Pty Limited

75

100 100 100

Lucy Electric (Thailand) Limited

Thailand

Manufacture and sale of switchgear

100 100 100

Lucy Switchgear FZE Lucy Middle East FZE

UAE UAE

Manufacture of switchgear

Marketing and sale of switchgear

106

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Lucy Group Ltd Annual Report & Accounts 2024

LUCYGROUP.COM

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