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"scheme:2138001JXGCFKBXYB828", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "rightmoveplc:ReverseAcquisitionReserveMember", "unit": "iso4217:GBP" } }, "fact-267": { "value": "99392000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:GBP" } }, "fact-268": { "value": "80862000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2025-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-271": { "value": "
1 General information, judgements and estimates
Rightmove plc (the Company) is a public limited company registered in England (Company no. 6426485)
domiciled in the United Kingdom (UK). The consolidated financial statements of the Company as at and
for the year ended 31 December 2024 comprise the Company and its interest in its subsidiaries (together
referred to as \u2018the Group\u2019). Its principal business is the operation of the Rightmove platforms, which have
the largest audience of any UK property portal (as measured by time on site). The consolidated financial
statements of the Group as at and for the year ended 31 December 2024 are available upon request from
the Company Secretary from the Company\u2019s registered office at 2 Caldecotte Lake Business Park,
Caldecotte Lake Drive, Caldecotte, Milton Keynes, MK7 8LE or are available on the corporate website
at plc.rightmove.co.uk.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-2": { "value": "Rightmove plc", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-269": { "value": "Rightmove plc", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-3": { "value": "public limited company", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-4": { "value": "England", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-5": { "value": "United Kingdom", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-6": { "value": "Its principal business is the operation of the Rightmove platforms, which have the largest audience of any UK property portal (as measured by time on site).", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-7": { "value": "2 Caldecotte Lake Business Park, Caldecotte Lake Drive, Caldecotte, Milton Keynes, MK7 8LE", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-272": { "value": "
Statement of compliance
The Group financial statements have been prepared and approved by the Board of Directors in
accordance with UK-adopted international accounting standards (IFRS). The consolidated financial
statements were authorised for issue by the Board of Directors on 27 February 2025.
", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-273": { "value": "
Basis of preparation
The Group financial statements have been prepared in accordance with UK-adopted international
accounting standards and the requirements of the Companies Act 2006. The financial statements have
been prepared on an historical cost basis except for equity investments which are carried at fair value.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-274": { "value": "Climate change In preparing the financial statements, the Directors have considered the impact of climate change, particularly in the context of the climate change risks identified in the Environmental section of the Strategic Report and the Group\u2019s stated target of Net Zero carbon emissions by 2040. These considerations did not have a material impact on the financial reporting judgements and estimates in the current year. This reflects the conclusion that climate change is not expected to have a significant impact on the Group\u2019s short-term or medium-term cash flows, including those considered in the going concern and viability assessments, impairment assessments of the carrying value of non-current assets and the estimates of future profitability used in our assessment of the recoverability of deferred tax assets. ", "dimensions": { "concept": "rightmoveplc:DisclosureOfClimateChange", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-275": { "value": "
Basis of consolidation
Subsidiaries are entities controlled by the Group. Control exists when the Group has existing rights that
give it the ability to direct the relevant activities of an entity and affect the returns the Group will receive
as a result of its involvement with the entity. In assessing control, potential voting rights that are currently
exercisable or convertible are taken into account. The financial statements of subsidiaries are included in
the consolidated financial statements from the date that control commences until the date that control
ceases.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-319": { "value": "Basis of consolidation Subsidiaries are entities controlled by the Group. Control exists when the Group has existing rights that give it the ability to direct the relevant activities of an entity and affect the returns the Group will receive as a result of its involvement with the entity. In assessing control, potential voting rights that are currently exercisable or convertible are taken into account. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-276": { "value": "Alternative performance measures In the analysis of the Group\u2019s financial performance, certain information disclosed in the financial statements may be prepared on a non-GAAP basis or has been derived from amounts calculated in accordance with IFRS but are not themselves an expressly permitted GAAP measure. These measures are reported in line with the way in which financial information is analysed by management and designed to increase comparability of the Group\u2019s year-on-year financial position, based on its operational activity. The Directors believe that these alternative performance measures, which exclude charges or credits that are not entirely driven by the principal operational activity of the Group, provide useful information to investors and enhance the understanding of our results. The charges that are not entirely driven by the principal operational activity of the Group include costs relating to share-based payments, transaction- related charges \u2013 such as those in relation to acquisitions, investments or bid defence \u2013 and restructuring. The Directors therefore consider underlying operating profit to be the most appropriate indicator of the performance of the business and year-on-year trends. The key alternative performance measures presented by the Group are: \u2022 Underlying profit: which is defined as profit for the year before share-based payments charges (including the related National Insurance) and transaction-related charges and the appropriate tax adjustments; \u2022 Underlying operating profit: which is defined as operating profit before share-based payments charges (including the related National Insurance) and transaction-related charges; \u2022 Underlying basic earnings per share (EPS): which is defined as underlying profit divided by the weighted average number of ordinary shares outstanding during the period; \u2022 Underlying costs: which is defined as administrative expenses before share-based payments charges (including the related National Insurance) and transaction-related charges; and \u2022 Underlying operating margin: which is defined as the underlying operating profit as a percentage of revenue. A reconciliation of the underlying performance measures to the GAAP measures are shown below: Underlying profit A reconciliation of the profit for the year to the underlying profit is presented below: 2024 2023 Note \u00a3000 \u00a3000 Profit for the year 192,713199,151 Share-based incentives charge 237,4395,886 NI on share-based incentives 23 917 651 Legal, professional and transaction-related charges 56,230 \u2013 Investment fair value loss 253,000 \u2013 Impact on tax charge (3,152) (1,008) Underlying profit 207,147204,680 Underlying profit is used instead of profit to calculate the underlying basic earnings per share, which is underlying profit divided by the weighted average number of ordinary shares in issue for the period, whereas earnings per share is profit for the year divided by weighted average number of ordinary shares in issue for the period (Note 10). Underlying operating profit A reconciliation of the operating profit to the underlying operating profit is presented below: 2024 2023 Note \u00a3000 \u00a3000 Operating profit 256,330258,033 Share-based incentives charge 237,4395,886 NI on share-based incentives 23 917 651 Legal, professional and transaction-related charges 56,230 \u2013 Investment fair value loss 253,000 \u2013 Underlying operating profit 273,916264,570 Underlying operating profit is used to calculate the underlying operating margin, which is underlying operating profit as a proportion of revenue, whereas the operating margin calculated as operating profit as a proportion of revenue. Underlying costs A reconciliation of the administrative expenses to the underlying costs is presented below: Note 2024 2023 \u00a3000 \u00a3000 Administration expenses 133,552106,283 Share-based incentives charge 23(7,439)(5,886) NI on share-based incentives 23 (917)(651) Legal, professional and transaction-related charges 5(6,230) \u2013 Investment fair value loss 25(3,000) \u2013 Underlying costs 115,96699,746", "dimensions": { "concept": "rightmoveplc:DisclosureOfAlternativePerformanceMeasures", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-277": { "value": "
Going concern
The Directors have performed a detailed going concern review and tested the Group\u2019s liquidity in a range
of scenarios, as set out below.
Throughout the period, the Group was debt-free, remained highly cash generative and had a cash balance
of \u00a335.8m and money market deposits of \u00a35.5m at 31 December 2024 (31 December 2023: cash balance
of \u00a333.6m and money market deposits of \u00a35.2m).
The Group bought back shares to the value of \u00a3107.4m during the period (2023: \u00a3130.0m) and paid
dividends totalling \u00a374.3m in May and October 2024 (2023: \u00a371.7m).
In reaching their assessment on going concern, the Directors have used the most recent Board approved
forecasts for the Group for the period to 30 June 2026 (\u2018the going concern period\u2019), which have been
modelled to reflect the expected impact of current economic conditions on trading, as set out in these
financial statements.
In stress testing the future cash flows of the Group, the Directors modelled a range of scenarios
which considered the effect on the Group of reductions of varying severity in the number of housing
transactions for the period to 30 June 2026 and modelled the likely timing of cash flows from our
customers during the going concern period.
These included severe but plausible downside scenarios that are considered to pose the greatest threat
to the business model and future performance of the Group, such as: an economic shock, increased
competition and new disruptive technologies, or a cyber threat. The model considered the impact of
changes in the key drivers of the Group\u2019s revenues, including customer numbers and average revenue
per advertiser (ARPA) \u2013 one scenario being a 30% reduction in revenue. Cost assumptions were also
considered in each of the severe but plausible scenarios, including an increase in marketing costs and IT
costs, employee recruitment and retention costs, and higher spend on innovation and protection of the
platform. The scenarios were stress tested individually and in combination. In all combinations of the
scenarios tested, the Group remained cash positive and debt-free.
The Directors also reviewed the results of a reverse stress test, which was undertaken to provide an
illustration of the scenario required to exhaust cash balances. The possibility of this scenario arising was
assessed to be highly remote and could arise only in extreme circumstances, much more severe than the
scenarios modelled above.
The Directors are confident that the Group will remain cash positive and will have sufficient funds to
continue to meet its liabilities as they fall due for at least the period to 30 June 2026 and have therefore
prepared the financial statements on a going concern basis.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-278": { "value": "
Judgements and estimates
The preparation of the consolidated financial statements in accordance with UK Adopted International
accounting standards and the requirements of Companies Act 2006 requires management to make
judgements, estimates and assumptions that affect the application of accounting policies and the
reported amounts of assets and liabilities, income and expenses. The estimates and associated
assumptions are based on historical experience, and various other factors that are believed to be
reasonable under the circumstances, the results of which form the basis of making judgements about
carrying values of assets and liabilities that are not readily apparent from other sources. Actual results
may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised and in any future periods,
if applicable.
Management has determined that there are no areas of estimation uncertainty that have a significant
risk of resulting in a material adjustment to the carrying amounts of assets and liabilities within the next
financial year or critical judgements in applying accounting policies that have a significant effect on the
amounts recognised in the consolidated financial statements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-270": { "value": "
2 Material accounting policy information
New and revised standards and interpretations
There were no new standards adopted by the Group that had a material impact during the year.
The IASB have issued a number of amendments to IFRS that became mandatory in the period:
\u2022 IAS 1 regarding classification of liabilities as current or non-current and non-current liabilities
with covenants;
\u2022 IFRS 16 in relation to accounting for sale and leaseback transactions; and
\u2022 IAS 7 and IFRS 7 disclosure updates regarding supplier finance arrangements.
These amendments are either not applicable or have an immaterial impact on the Group.
The Group has evaluated further amendments to IFRS that will become mandatory in subsequent periods
and assessed that only IFRS 18 \u2013 Presentation and Disclosure in Financial Statements would have an
impact on presentation, which will be adopted in the year commencing 1 January 2027 when it becomes
effective. Whilst not expected to have an impact, the review of IFRS 9 and IFRS 7, Amendments to the
Classification and Measurement of Financial Instruments, is still ongoing.
Existing accounting policies
The following accounting policies applied by the Group in these consolidated financial statements are the
same as those applied by the Group in its consolidated financial statements as at and for the prior year
ended 31 December 2023 except for those disclosed above that are applicable from 1 January 2024.
Revenue
Revenue principally represents the amounts receivable from customers in respect of property products,
primarily membership of the Rightmove platforms, together with the provision of tenant referencing and
rent guarantee insurance. Rightmove also provides non-property services, which includes Data Services
and Third-Party advertising.
Revenue is recognised based upon the transaction price specified in a contract with a customer. It is
recognised at the point when the performance obligations are satisfied, through providing a customer
with access to the Rightmove platforms and/or products or other services.
(i) Property products: membership of Rightmove platforms
For membership listing services, customers pay monthly subscriptions to list their properties on the
Rightmove platforms. Contracts for these services are per branch location or branch equivalent for
Agency, Commercial and Overseas customers and per development for New Homes and Built for
Rent customers. They vary in length from one month to five years but are typically for periods of six
to 12 months.
Performance obligations are satisfied, and revenue recognised, from the point at which the customer has
access to the platform to allow them to list their properties. Subscription revenue is spread over the life of
the contract. Agency, Overseas and Commercial services are typically billed monthly in advance, from the
point the customer gains access to the platform, and New Homes and Built for Rent developers are billed
monthly in arrears.
Customers have the option to enhance their property listings and presence on Rightmove through
purchasing additional advertising products. For products that provide enhanced brand exposure over
a period of time, revenue is recognised over the life of the product, from the point the customer gains
access to the product. Invoices are sent on a monthly basis, in line with the core listing services. For
products with a one-off usage basis, revenue is recognised at the end of the month during which the
customer chose to apply and use the product.
Discounts may be offered to customers as part of membership or package offers, on a pro-rata basis,
and are taken into consideration in the transaction price for each product.
(ii) Property products: provision of tenant referencing and insurance broking commission
Referencing revenue relates to the supply of tenant referencing services, primarily to lettings agency
customers. Performance obligations are satisfied, and revenue is recognised, at the end of the month
during which the tenant referencing service is completed and the final report is passed to the customer.
Revenue related to insurance broking commission is generated on the sale of rent guarantee insurance to
lettings agents and landlord customers, where Rightmove acts as an agent. Revenue is recognised at the
start date of the insurance policy purchased and represents the commissions earned.
(iii) Non-property products
Data Services revenue relates to fees generated for a variety of different data and valuation products
and tools. Where the contract gives a customer access to use Rightmove\u2019s property tools, revenue is
recognised on a monthly basis, over the life of the product, from the point the customer gains access to
the tools. Where the contract is to provide the customer with specific data, revenue is recognised at the
point that the data is transferred to the customer.
Discounts may be offered to customers on a pro-rata basis and are taken into consideration in the
transaction price for each performance obligation.
Third-Party advertising revenue represents amounts paid by customers to advertise non-property
products on the Rightmove platforms. Performance obligations are met once a customer is actively
advertising on the Rightmove platform. Revenue is recognised on a monthly basis over the life of the
contract. A small number of arrangements with Third-Party customers mean that Rightmove is acting as
an agent, in a principal-agency relationship. In any case where the Group is acting as an agent, revenue is
recognised as a net amount, reflecting the margin earned.
Contract assets and liabilities
Contract assets relate to the Group\u2019s rights to consideration for services that have been provided at the
reporting date. Contract assets are transferred to receivables when the rights to consideration have
become unconditional.
Contract liabilities relate to the advance consideration received from Estate Agency, Overseas and
Commercial customers, for which revenue is recognised at a later date, as or when the services
are provided.
Intangible assets
(i) Goodwill
Goodwill arising on a business combination represents the difference between the fair value of
the consideration paid and the fair value of the net identifiable assets acquired and is included in
intangible assets.
Goodwill is stated at cost less any accumulated impairment losses. Goodwill is tested annually for
impairment.
(ii) Research and development
The Group undertakes research and development expenditure in view of developing new products and
improving the existing property platforms. Expenditure on research activities, undertaken with the
prospect of gaining new technical knowledge and understanding, is recognised in the income statement
as incurred.
Development costs that are directly attributable to the design and testing of identifiable and unique
software products, websites and systems controlled by the Group are capitalised and recognised as
intangible assets when the following criteria are met: it is technically feasible to complete the software
product or website so that it will be available for use; management intends to complete the software
product or website and use or sell it; there is an ability to use or sell the software product or website; it can
be demonstrated how the software product or website will generate probable future economic benefits;
adequate technical, financial and other resources to complete the development and to use or sell the
software product or website are available; and the expenditure attributable to the software product or
website during its development can be reliably measured.
Development costs, which include employee and contractor costs, are capitalised only from the point
when we believe it is probable the development is technically feasible and the software will be used to
perform the function intended. Technological feasibility is typically reached once all research has been
completed and high risks \u2013 such as novel, unique, unproven functions and features or technological
innovations \u2013 have been investigated and resolved.
Other development expenditures that do not meet these criteria, such as costs related to the preliminary
project stage and post-implementation activities as well as ongoing maintenance and costs associated
with routine upgrades and enhancements, are recognised as an expense as incurred.
Development costs for software, websites and systems are carried at cost less accumulated amortisation
and are amortised on a straight-line basis over their useful lives (not exceeding five years) at the point in
which they come into use. When internal-use software that was previously capitalised is abandoned, the
cost less the accumulated amortisation, if any, is recorded as an expense. Fully amortised capitalised
internal-use software costs are removed from their respective accounts.
(iii) Computer software and licences
Computer software and externally acquired software licences are capitalised and stated at cost less
accumulated amortisation and impairment losses. Amortisation is charged from the date the asset is
available for use. Amortisation is provided to write off the cost less the estimated residual value of the
computer software or licence by equal annual instalments over its estimated useful economic life
as follows:
Computer software 20.0% \u2013 33.3% per annum
Software licences 20.0% \u2013 33.3% per annum
(iv) Customer relationships
The customer relationships identified on the acquisition of Rightmove Landlord & Tenant Services
Limited and HomeViews Platform Limited are valued using the income approach, calculating the multi-
period excess earnings. Amortisation is expensed in the income statement on a straight-line basis over
the estimated useful economic life of 10 years.
Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and impairment losses.
Capitalised costs are held as an asset in progress until such point that the asset is brought into use, at
which point it is transferred to the appropriate property, plant and equipment category and depreciation
is charged. Depreciation is provided to write off the cost less the estimated residual value of property,
plant and equipment by equal annual instalments over their estimated useful economic lives as follows:
Office equipment, fixtures and fittings 20.0% per annum
Computer equipment 20.0% \u2013 33.3% per annum
Motor vehicles 25% \u2013 33.3% per annum
Leasehold improvements remaining life of the lease
Business combinations
The Group accounts for business combinations using the acquisition method under IFRS 3 \u2013
Business Combinations.
Impairment
The carrying value of property, plant and equipment, and intangible assets other than goodwill is reviewed
at each reporting date to determine whether there is any indication of impairment. If any such indication
exists, the asset\u2019s recoverable amount is estimated. An impairment loss is recognised for the amount by
which the asset\u2019s carrying amount exceeds its recoverable amount.
Goodwill is not subject to amortisation but is tested for impairment annually and whenever there is an
indication that it might be impaired. An impairment loss is recognised for the amount by which the
carrying value of the asset exceeds its recoverable amount.
The carrying amounts of the Group\u2019s non-financial assets, other than deferred tax assets, are reviewed
at each reporting date to determine whether there is any indication of impairment. If any such indication
exists, then the asset\u2019s recoverable amount is estimated.
The recoverable amount of an asset or cash-generating unit is the greater of its value in use and its fair
value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their
present value using a pre-tax discount rate that reflects current market assessments of the time value of
money and the risks specific to the asset. For an asset that does not generate largely independent cash
flows, the recoverable amount is determined for the cash-generating unit to which the asset belongs.
For the purpose of impairment testing, assets that cannot be tested individually are grouped together
into the smallest group of assets that generate cash inflows from continuing use that are largely
independent of the cash inflows of other assets or groups of assets (the \u2018cash-generating unit\u2019). The
goodwill acquired in a business combination, for the purpose of impairment testing, is allocated to cash-
generating units (\u2019CGUs\u2019). Goodwill acquired in a business combination is allocated to groups of CGUs
that are expected to benefit from the synergies of the combination.
An impairment loss is recognised if the carrying amount of an asset or its CGU exceeds its estimated
recoverable amount. Impairment losses are recognised in the income statement. Impairment losses
recognised in respect of CGUs are allocated first to reduce the carrying amount of any goodwill allocated
to the units, and then to reduce the carrying amounts of the other assets in the unit (group of units) on a
pro rata basis.
Cash and cash equivalents
Cash and cash equivalents comprise cash balances and call deposits with original maturities of three
months or less. Where the original maturity exceeds three months, amounts are classified as money
market deposits and presented separately within the balance sheet.
Provisions
A provision is recognised if, as a result of a past event, the Group has a present legal or constructive
obligation that can be reliably estimated and it is probable that an outflow of economic benefits will be
required to settle the obligation.
Dilapidation provisions are determined by discounting the expected future cash flows at a pre-tax rate
that reflects current market assessments of the time value of money and the risks specific to the liability.
Leases
When a contractual arrangement contains a lease, the Group recognises a lease liability and a
corresponding right of use asset at the commencement of the lease.
At the commencement date the lease liability is measured at the present value of the future lease
payments, discounted using the Group\u2019s incremental borrowing rate where the interest rate in the lease
is not readily determined. Subsequently, the lease liability is adjusted by increasing the carrying amount to
reflect interest on the lease liability, reducing the carrying amount to reflect the lease payments made and
remeasuring the carrying amount to reflect any reassessment or lease modifications.
The lease term is determined from the commencement date of the lease and covers the non-cancellable
term. If the Group has an extension option, which it considers it is reasonably certain to exercise, then the
lease term will be considered to extend beyond that non-cancellable period. If the Group has a termination
option, which it considers it is reasonably certain to exercise, then the lease term will be considered to be
until the point the termination option will take effect.
At the commencement date the right of use asset is measured at an amount equal to the lease liability
plus any lease payments made before the commencement date and any initial direct costs, less any lease
incentive payments. An estimate of costs to be incurred in restoring an asset, in accordance with the
terms of the lease, is also included in the right of use asset at initial recognition. Subsequently, the right
of use asset is depreciated over the life of the lease term.
An adjustment is also made to the right of use asset to reflect any remeasurement of the corresponding
lease liability. The right of use assets are also subject to impairment testing under IAS 36. Short-term
leases and low value leases are not recognised as lease liabilities and right of use assets but are recognised
as an expense straight line over the lease term.
Employee benefits
(i) Pensions
The Group provides access to stakeholder pension schemes (defined contribution pension plans).
Obligations for contributions to defined contribution pension plans are recognised as an employee
benefit expense in the income statement when they are incurred.
(ii) Employee share schemes
The Group provides share-based incentive plans allowing Executive Directors and other employees to
acquire shares in the Company. An expense is recognised in the income statement, with a corresponding
increase in equity, over the period during which the employees become unconditionally entitled to acquire
equity-settled share-based incentives.
Fair value at the grant date is measured using either the Monte Carlo or Black Scholes pricing model as
is most appropriate for each scheme. Measurement inputs include: share price on measurement date;
exercise price of the instrument; expected volatility (based on weighted average historic volatility
adjusted for changes expected due to publicly available information); weighted average expected life
of the instruments (based on historical experience and general option behaviour); expected dividends; and
risk-free interest rates (based on government bonds). Service and non-market performance conditions
attached to the awards are not taken into account in determining the fair value of the
individual shares awarded.
For share-based incentive awards with non-vesting conditions, the grant date fair value of the share-
based incentives is measured to reflect such conditions and there is no true-up for differences between
expected and actual outcomes. When either the employee or the Company chooses not to meet the non-
vesting condition, the failure to meet the non-vesting condition is treated as a cancellation and the cost
that would have been recognised over the remainder of the vesting period is recognised immediately in
the income statement. For awards with market-related performance criteria (such as TSR), an expense is
recognised over the vesting period irrespective of whether the market condition is satisfied.
Share awards to employees are made by the Company and treated as equity-settled share-based
payments; share-based payments awards which are share-holder approved schemes (DSP and PSP)
are settled via treasury shares for employees. EBT shares are used for the non-shareholder approved
schemes (RSP) and for the SAYE shares. The SIP shares are used to settle the SIP award of free shares
to employees.
(iii) Own shares held by the Rightmove Employee Share Trust (EBT)
The Group put in place an employee benefit trust (EBT) several years ago. The EBT was sponsored and
funded by the parent company at the time, which was Rightmove Group Limited. Whilst the Group was
since restructured under a new topco \u2013 the Company Rightmove plc \u2013 the sponsorship of the trust was
not changed and the EBT shares were held in the subsidiary Rightmove Group Limited until 1 January
2023. At this point, the sponsorship of the trust was transferred to Rightmove plc via a dividend in specie.
EBT transactions are now treated as being those of Rightmove plc, rather than of Rightmove Group
Limited, and are charged directly to equity. There is no impact on the consolidated Group position.
(iv) Own shares held by the Rightmove Share Incentive Plan Trust (SIP)
The Company established the Rightmove Share Incentive Plan Trust (SIP) in November 2014. The
SIP is treated as an agent of Rightmove plc, and as such SIP transactions are treated as being those
of Rightmove plc and are therefore reflected in the Group\u2019s consolidated financial statements. At a
consolidated level, the SIP\u2019s purchases of shares in the Company are charged directly to equity.
(v) Own shares held by treasury
The Company bought the treasury shares in 2008 and these shares may be used to satisfy share holder
approved share-based incentive awards.
(vi) National Insurance (NI) on share-based incentives
Employer NI is accrued, where applicable, at a rate of 13.8%, which management expects to be the
prevailing rate when share-based incentives are exercised. In the case of share options, it is provided
on the difference between the share price at the reporting date and the average exercise price of share
options. In the case of nil cost performance shares and deferred shares, it is provided based on the share
price at the reporting date. The NI on share-based payments in relation to the exercise of the shares is
charged to the income statement over the vesting period of the award.
Treasury shares and shares purchased for cancellation
When share capital recognised as equity is repurchased, the amount of the consideration paid, including
directly attributable costs, is recognised as a deduction from equity. Repurchased shares are either held
in treasury or cancelled.
Financial instruments
Under IFRS 9, on initial recognition, a financial asset is classified and measured at: amortised cost, fair
value through profit or loss or fair value though other comprehensive income.
A financial asset is measured at amortised cost if it meets both of the following conditions: it is held within
a business model whose objective is to hold assets to collect contractual cash flows; and its contractual
terms give rise on specified dates to cash flows that are solely payments of principal and interest on the
principal amount outstanding.
Under IFRS 9, trade receivables without a significant financing component are classified and held at
amortised cost, being initially measured at the transaction price and subsequently measured at amortised
cost less any impairment loss.
The Group has elected to measure loss allowances for trade receivables and contract assets at an amount
equal to lifetime expected credit losses (ECLs). Credit losses are measured as the present value of all cash
shortfalls (i.e. the difference between the cash flows due to the entity in accordance with the contract and
the cash flows that the Group expects to receive).
The Group assumes that the credit risk on a financial asset has increased significantly if it is more than 30
days past due. The Group assesses whether a financial asset is in default on a case by case basis when it
becomes probable that the customer is unlikely to pay its credit obligations. The gross carrying amount
of a financial asset is written off when the Group has no reasonable expectations of recovering a financial
asset in its entirety or a portion thereof. For all customers, the Group individually makes an assessment
with respect to the timing and amount of write-off based on whether there is a reasonable expectation
of recovery. The Group expects no significant recovery from the amount written off. However, financial
assets that are written off could still be subject to enforcement activities in order to comply with the
Group\u2019s procedures for recovery of amounts due.
When required, ECLs are adjusted to include any macro economic factors. At each reporting date, the
Group assesses whether financial assets carried at amortised cost are \u2018credit-impaired\u2019. A financial asset
is \u2018credit-impaired\u2019 when one or more events that have a detrimental impact on the estimated future cash
flows of the financial asset have occurred.
Financial assets are derecognised when the rights to receive cash flows from the asset have expired or the
Group has transferred its rights to receive cash flows from the asset.
On initial recognition financial liabilities are measured at fair value, they are classified and subsequently
measured at amortised cost. Financial liabilities measured at amortised cost include trade and other
payables and lease liabilities.
Financial liabilities are derecognised when the obligation under the liability is discharged, cancelled
or expires.
The Coadjute Ltd equity investment is measured at fair value on initial recognition and then subsequently
at fair value through profit or loss applying IFRS 9.
Segmental reporting
Rightmove has one reportable segment, being the consolidated result. Whilst the Chief Operating
Decision Maker separately monitors revenue for different business units, they do not separately monitor
business unit profit, operating costs, financial income, financial expenses and income taxes for these
areas of the business, instead monitoring this on a consolidated level.
The Group presents internal financial information that measures business performance to the Chief
Executive Officer, who is the Group\u2019s Chief Operating Decision Maker. This information is used for the
purpose of making decisions about resources to be allocated and assessing performance. This financial
information includes information on revenue performance and specific monitoring of trade receivable
levels for each of the following business units:
\u2022 Agency, which provides resale and lettings property advertising services, rental operators advertising
and rental services on Rightmove\u2019s platforms;
\u2022 New Homes, which provides property advertising services to new home developers and housing
associations on Rightmove\u2019s platforms; and
\u2022 Other, which comprises Commercial and Overseas property advertising services; and non-property
advertising services which include our Third Party advertising and Data Services; and the Financial
Services (Mortgages) business.
All revenues in all periods are derived from third parties. The disaggregated revenue is included within
Note 4.
Financial income and expenses
Financial income comprises interest receivable on cash balances and money market deposits. Interest
income is recognised as it accrues, using the effective interest method.
Financial expenses comprise banking fees and bank charges and the unwinding of the discount on
provisions and lease liabilities.
Taxation
Income tax on the results for the year comprises current and deferred tax. Income tax is recognised in the
income statement except to the extent that it relates to items recognised directly in equity, in which case
it is recognised in equity.
Current tax is the expected tax payable on the taxable income for the period net of any charge or credit
posted directly to equity, using tax rates enacted or substantively enacted at the reporting date and any
adjustment to tax payable in respect of previous periods.
Deferred tax is provided in respect of temporary difference between the carrying amounts of assets and
liabilities for financial reporting purposes and the amounts used for tax purposes. The amount of deferred
tax provided is based on the expected manner of realisation or settlement of the carrying amount of
assets and liabilities, using tax rates enacted or substantively enacted at the reporting date. A deferred tax
asset is recognised only to the extent that it is probable that future taxable profits will be available against
which the asset can be utilised.
The following temporary differences are not provided for: the initial recognition of goodwill; the initial
recognition of other assets or liabilities in a transaction that affects neither the taxable profit nor the
accounting profit, other than in a business combination; and the differences relating to investments in
subsidiaries to the extent that the parent company is able to control the reversal and it is probable that
the temporary difference will not reverse in the foreseeable future. The initial recognition exception does
not apply to lease transactions which give rise to equal taxable and deductible temporary differences.
However, as the tax deductions relate to the lease assets, no temporary differences arose on these at
initial recognition.
In accordance with IAS 12, the Group policy in relation to the recognition of deferred tax on the exercise of
share-based incentives is to include the income tax effect of the tax deduction in the income statement,
up to the value of the income tax charge on the cumulative IFRS 2 charge. The remainder of the income
tax effect of the tax deduction is recognised in equity.
Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax
assets against current tax liabilities and it is the intention to settle these on a net basis.
Dividends
Dividends unpaid at the reporting date are only recognised as a liability (and deduction to equity) at
that date to the extent that they are appropriately authorised and are no longer at the discretion of
the Company. Unpaid dividends that do not meet these criteria are disclosed in the notes to the
financial statements.
Earnings per share (EPS)
The Group presents basic and diluted EPS data for its ordinary shares. Basic EPS is calculated by dividing
the profit or loss attributable to equity holders of the Company by the weighted average number of
ordinary shares outstanding during the year, adjusted for own shares held. For diluted EPS, the weighted
average number of ordinary shares in issue is adjusted to assume conversion of all potentially dilutive
shares. The Group\u2019s potential dilutive instruments are in respect of share-based incentives granted to
employees, which will be settled by ordinary shares held by the EBT, the SIP and shares held in treasury.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-279": { "value": "New and revised standards and interpretations There were no new standards adopted by the Group that had a material impact during the year. The IASB have issued a number of amendments to IFRS that became mandatory in the period: \u2022 IAS 1 regarding classification of liabilities as current or non-current and non-current liabilities with covenants; \u2022 IFRS 16 in relation to accounting for sale and leaseback transactions; and \u2022 IAS 7 and IFRS 7 disclosure updates regarding supplier finance arrangements. These amendments are either not applicable or have an immaterial impact on the Group. The Group has evaluated further amendments to IFRS that will become mandatory in subsequent periods and assessed that only IFRS 18 \u2013 Presentation and Disclosure in Financial Statements would have an impact on presentation, which will be adopted in the year commencing 1 January 2027 when it becomes effective. Whilst not expected to have an impact, the review of IFRS 9 and IFRS 7, Amendments to the Classification and Measurement of Financial Instruments, is still ongoing. ", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-320": { "value": "New and revised standards and interpretations There were no new standards adopted by the Group that had a material impact during the year. The IASB have issued a number of amendments to IFRS that became mandatory in the period: \u2022 IAS 1 regarding classification of liabilities as current or non-current and non-current liabilities with covenants; \u2022 IFRS 16 in relation to accounting for sale and leaseback transactions; and \u2022 IAS 7 and IFRS 7 disclosure updates regarding supplier finance arrangements. These amendments are either not applicable or have an immaterial impact on the Group. The Group has evaluated further amendments to IFRS that will become mandatory in subsequent periods and assessed that only IFRS 18 \u2013 Presentation and Disclosure in Financial Statements would have an impact on presentation, which will be adopted in the year commencing 1 January 2027 when it becomes effective. Whilst not expected to have an impact, the review of IFRS 9 and IFRS 7, Amendments to the Classification and Measurement of Financial Instruments, is still ongoing. ", "dimensions": { "concept": "ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-280": { "value": "Revenue Revenue principally represents the amounts receivable from customers in respect of property products, primarily membership of the Rightmove platforms, together with the provision of tenant referencing and rent guarantee insurance. Rightmove also provides non-property services, which includes Data Services and Third-Party advertising. Revenue is recognised based upon the transaction price specified in a contract with a customer. It is recognised at the point when the performance obligations are satisfied, through providing a customer with access to the Rightmove platforms and/or products or other services. (i) Property products: membership of Rightmove platforms For membership listing services, customers pay monthly subscriptions to list their properties on the Rightmove platforms. Contracts for these services are per branch location or branch equivalent for Agency, Commercial and Overseas customers and per development for New Homes and Built for Rent customers. They vary in length from one month to five years but are typically for periods of six to 12 months. Performance obligations are satisfied, and revenue recognised, from the point at which the customer has access to the platform to allow them to list their properties. Subscription revenue is spread over the life of the contract. Agency, Overseas and Commercial services are typically billed monthly in advance, from the point the customer gains access to the platform, and New Homes and Built for Rent developers are billed monthly in arrears. Customers have the option to enhance their property listings and presence on Rightmove through purchasing additional advertising products. For products that provide enhanced brand exposure over a period of time, revenue is recognised over the life of the product, from the point the customer gains access to the product. Invoices are sent on a monthly basis, in line with the core listing services. For products with a one-off usage basis, revenue is recognised at the end of the month during which the customer chose to apply and use the product. Discounts may be offered to customers as part of membership or package offers, on a pro-rata basis, and are taken into consideration in the transaction price for each product. (ii) Property products: provision of tenant referencing and insurance broking commission Referencing revenue relates to the supply of tenant referencing services, primarily to lettings agency customers. Performance obligations are satisfied, and revenue is recognised, at the end of the month during which the tenant referencing service is completed and the final report is passed to the customer. Revenue related to insurance broking commission is generated on the sale of rent guarantee insurance to lettings agents and landlord customers, where Rightmove acts as an agent. Revenue is recognised at the start date of the insurance policy purchased and represents the commissions earned. (iii) Non-property products Data Services revenue relates to fees generated for a variety of different data and valuation products and tools. Where the contract gives a customer access to use Rightmove\u2019s property tools, revenue is recognised on a monthly basis, over the life of the product, from the point the customer gains access to the tools. Where the contract is to provide the customer with specific data, revenue is recognised at the point that the data is transferred to the customer. Discounts may be offered to customers on a pro-rata basis and are taken into consideration in the transaction price for each performance obligation. Third-Party advertising revenue represents amounts paid by customers to advertise non-property products on the Rightmove platforms. Performance obligations are met once a customer is actively advertising on the Rightmove platform. Revenue is recognised on a monthly basis over the life of the contract. A small number of arrangements with Third-Party customers mean that Rightmove is acting as an agent, in a principal-agency relationship. In any case where the Group is acting as an agent, revenue is recognised as a net amount, reflecting the margin earned.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-281": { "value": "Contract assets and liabilities Contract assets relate to the Group\u2019s rights to consideration for services that have been provided at the reporting date. Contract assets are transferred to receivables when the rights to consideration have become unconditional. Contract liabilities relate to the advance consideration received from Estate Agency, Overseas and Commercial customers, for which revenue is recognised at a later date, as or when the services are provided. ", "dimensions": { "concept": "rightmoveplc:DescriptionOfAccountingPolicyForContractAssetsAndLiabilities", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-282": { "value": "Intangible assets (i) Goodwill Goodwill arising on a business combination represents the difference between the fair value of the consideration paid and the fair value of the net identifiable assets acquired and is included in intangible assets. Goodwill is stated at cost less any accumulated impairment losses. Goodwill is tested annually for impairment. (ii) Research and development The Group undertakes research and development expenditure in view of developing new products and improving the existing property platforms. Expenditure on research activities, undertaken with the prospect of gaining new technical knowledge and understanding, is recognised in the income statement as incurred. Development costs that are directly attributable to the design and testing of identifiable and unique software products, websites and systems controlled by the Group are capitalised and recognised as intangible assets when the following criteria are met: it is technically feasible to complete the software product or website so that it will be available for use; management intends to complete the software product or website and use or sell it; there is an ability to use or sell the software product or website; it can be demonstrated how the software product or website will generate probable future economic benefits; adequate technical, financial and other resources to complete the development and to use or sell the software product or website are available; and the expenditure attributable to the software product or website during its development can be reliably measured. Development costs, which include employee and contractor costs, are capitalised only from the point when we believe it is probable the development is technically feasible and the software will be used to perform the function intended. Technological feasibility is typically reached once all research has been completed and high risks \u2013 such as novel, unique, unproven functions and features or technological innovations \u2013 have been investigated and resolved. Other development expenditures that do not meet these criteria, such as costs related to the preliminary project stage and post-implementation activities as well as ongoing maintenance and costs associated with routine upgrades and enhancements, are recognised as an expense as incurred. Development costs for software, websites and systems are carried at cost less accumulated amortisation and are amortised on a straight-line basis over their useful lives (not exceeding five years) at the point in which they come into use. When internal-use software that was previously capitalised is abandoned, the cost less the accumulated amortisation, if any, is recorded as an expense. Fully amortised capitalised internal-use software costs are removed from their respective accounts. (iii) Computer software and licences Computer software and externally acquired software licences are capitalised and stated at cost less accumulated amortisation and impairment losses. Amortisation is charged from the date the asset is available for use. Amortisation is provided to write off the cost less the estimated residual value of the computer software or licence by equal annual instalments over its estimated useful economic life as follows: Computer software 20.0% \u2013 33.3% per annum Software licences 20.0% \u2013 33.3% per annum (iv) Customer relationships The customer relationships identified on the acquisition of Rightmove Landlord & Tenant Services Limited and HomeViews Platform Limited are valued using the income approach, calculating the multi- period excess earnings. Amortisation is expensed in the income statement on a straight-line basis over the estimated useful economic life of 10 years. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-321": { "value": "(i) Goodwill Goodwill arising on a business combination represents the difference between the fair value of the consideration paid and the fair value of the net identifiable assets acquired and is included in intangible assets. Goodwill is stated at cost less any accumulated impairment losses. Goodwill is tested annually for impairment. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-351": { "value": "(i) Goodwill Goodwill arising on a business combination represents the difference between the fair value of the consideration paid and the fair value of the net identifiable assets acquired and is included in intangible assets. Goodwill is stated at cost less any accumulated impairment losses. Goodwill is tested annually for impairment. Business combinations The Group accounts for business combinations using the acquisition method under IFRS 3 \u2013 Business Combinations. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-322": { "value": "(ii) Research and development The Group undertakes research and development expenditure in view of developing new products and improving the existing property platforms. Expenditure on research activities, undertaken with the prospect of gaining new technical knowledge and understanding, is recognised in the income statement as incurred. Development costs that are directly attributable to the design and testing of identifiable and unique software products, websites and systems controlled by the Group are capitalised and recognised as intangible assets when the following criteria are met: it is technically feasible to complete the software product or website so that it will be available for use; management intends to complete the software product or website and use or sell it; there is an ability to use or sell the software product or website; it can be demonstrated how the software product or website will generate probable future economic benefits; adequate technical, financial and other resources to complete the development and to use or sell the software product or website are available; and the expenditure attributable to the software product or website during its development can be reliably measured. Development costs, which include employee and contractor costs, are capitalised only from the point when we believe it is probable the development is technically feasible and the software will be used to perform the function intended. Technological feasibility is typically reached once all research has been completed and high risks \u2013 such as novel, unique, unproven functions and features or technological innovations \u2013 have been investigated and resolved. Other development expenditures that do not meet these criteria, such as costs related to the preliminary project stage and post-implementation activities as well as ongoing maintenance and costs associated with routine upgrades and enhancements, are recognised as an expense as incurred. Development costs for software, websites and systems are carried at cost less accumulated amortisation and are amortised on a straight-line basis over their useful lives (not exceeding five years) at the point in which they come into use. When internal-use software that was previously capitalised is abandoned, the cost less the accumulated amortisation, if any, is recorded as an expense. Fully amortised capitalised internal-use software costs are removed from their respective accounts. (iii) Computer software and licences Computer software and externally acquired software licences are capitalised and stated at cost less accumulated amortisation and impairment losses. Amortisation is charged from the date the asset is available for use. Amortisation is provided to write off the cost less the estimated residual value of the computer software or licence by equal annual instalments over its estimated useful economic life as follows: Computer software 20.0% \u2013 33.3% per annum Software licences 20.0% \u2013 33.3% per annum (iv) Customer relationships The customer relationships identified on the acquisition of Rightmove Landlord & Tenant Services Limited and HomeViews Platform Limited are valued using the income approach, calculating the multi- period excess earnings. Amortisation is expensed in the income statement on a straight-line basis over the estimated useful economic life of 10 years. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-352": { "value": "(ii) Research and development The Group undertakes research and development expenditure in view of developing new products and improving the existing property platforms. Expenditure on research activities, undertaken with the prospect of gaining new technical knowledge and understanding, is recognised in the income statement as incurred. Development costs that are directly attributable to the design and testing of identifiable and unique software products, websites and systems controlled by the Group are capitalised and recognised as intangible assets when the following criteria are met: it is technically feasible to complete the software product or website so that it will be available for use; management intends to complete the software product or website and use or sell it; there is an ability to use or sell the software product or website; it can be demonstrated how the software product or website will generate probable future economic benefits; adequate technical, financial and other resources to complete the development and to use or sell the software product or website are available; and the expenditure attributable to the software product or website during its development can be reliably measured. Development costs, which include employee and contractor costs, are capitalised only from the point when we believe it is probable the development is technically feasible and the software will be used to perform the function intended. Technological feasibility is typically reached once all research has been completed and high risks \u2013 such as novel, unique, unproven functions and features or technological innovations \u2013 have been investigated and resolved. Other development expenditures that do not meet these criteria, such as costs related to the preliminary project stage and post-implementation activities as well as ongoing maintenance and costs associated with routine upgrades and enhancements, are recognised as an expense as incurred. Development costs for software, websites and systems are carried at cost less accumulated amortisation and are amortised on a straight-line basis over their useful lives (not exceeding five years) at the point in which they come into use. When internal-use software that was previously capitalised is abandoned, the cost less the accumulated amortisation, if any, is recorded as an expense. Fully amortised capitalised internal-use software costs are removed from their respective accounts. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-283": { "value": "Property, plant and equipment Property, plant and equipment are stated at cost less accumulated depreciation and impairment losses. Capitalised costs are held as an asset in progress until such point that the asset is brought into use, at which point it is transferred to the appropriate property, plant and equipment category and depreciation is charged. Depreciation is provided to write off the cost less the estimated residual value of property, plant and equipment by equal annual instalments over their estimated useful economic lives as follows: Office equipment, fixtures and fittings 20.0% per annum Computer equipment 20.0% \u2013 33.3% per annum Motor vehicles 25% \u2013 33.3% per annum Leasehold improvements remaining life of the lease", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-323": { "value": "Property, plant and equipment Property, plant and equipment are stated at cost less accumulated depreciation and impairment losses. Capitalised costs are held as an asset in progress until such point that the asset is brought into use, at which point it is transferred to the appropriate property, plant and equipment category and depreciation is charged. Depreciation is provided to write off the cost less the estimated residual value of property, plant and equipment by equal annual instalments over their estimated useful economic lives as follows: Office equipment, fixtures and fittings 20.0% per annum Computer equipment 20.0% \u2013 33.3% per annum Motor vehicles 25% \u2013 33.3% per annum Leasehold improvements remaining life of the lease", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-284": { "value": "Business combinations The Group accounts for business combinations using the acquisition method under IFRS 3 \u2013 Business Combinations.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-285": { "value": "Impairment The carrying value of property, plant and equipment, and intangible assets other than goodwill is reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, the asset\u2019s recoverable amount is estimated. An impairment loss is recognised for the amount by which the asset\u2019s carrying amount exceeds its recoverable amount. Goodwill is not subject to amortisation but is tested for impairment annually and whenever there is an indication that it might be impaired. An impairment loss is recognised for the amount by which the carrying value of the asset exceeds its recoverable amount. The carrying amounts of the Group\u2019s non-financial assets, other than deferred tax assets, are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, then the asset\u2019s recoverable amount is estimated. The recoverable amount of an asset or cash-generating unit is the greater of its value in use and its fair value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. For an asset that does not generate largely independent cash flows, the recoverable amount is determined for the cash-generating unit to which the asset belongs. For the purpose of impairment testing, assets that cannot be tested individually are grouped together into the smallest group of assets that generate cash inflows from continuing use that are largely independent of the cash inflows of other assets or groups of assets (the \u2018cash-generating unit\u2019). The goodwill acquired in a business combination, for the purpose of impairment testing, is allocated to cash- generating units (\u2019CGUs\u2019). Goodwill acquired in a business combination is allocated to groups of CGUs that are expected to benefit from the synergies of the combination. An impairment loss is recognised if the carrying amount of an asset or its CGU exceeds its estimated recoverable amount. Impairment losses are recognised in the income statement. Impairment losses recognised in respect of CGUs are allocated first to reduce the carrying amount of any goodwill allocated to the units, and then to reduce the carrying amounts of the other assets in the unit (group of units) on a pro rata basis.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-324": { "value": "Impairment The carrying value of property, plant and equipment, and intangible assets other than goodwill is reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, the asset\u2019s recoverable amount is estimated. An impairment loss is recognised for the amount by which the asset\u2019s carrying amount exceeds its recoverable amount. Goodwill is not subject to amortisation but is tested for impairment annually and whenever there is an indication that it might be impaired. An impairment loss is recognised for the amount by which the carrying value of the asset exceeds its recoverable amount. The carrying amounts of the Group\u2019s non-financial assets, other than deferred tax assets, are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, then the asset\u2019s recoverable amount is estimated. The recoverable amount of an asset or cash-generating unit is the greater of its value in use and its fair value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. For an asset that does not generate largely independent cash flows, the recoverable amount is determined for the cash-generating unit to which the asset belongs. For the purpose of impairment testing, assets that cannot be tested individually are grouped together into the smallest group of assets that generate cash inflows from continuing use that are largely independent of the cash inflows of other assets or groups of assets (the \u2018cash-generating unit\u2019). The goodwill acquired in a business combination, for the purpose of impairment testing, is allocated to cash- generating units (\u2019CGUs\u2019). Goodwill acquired in a business combination is allocated to groups of CGUs that are expected to benefit from the synergies of the combination. An impairment loss is recognised if the carrying amount of an asset or its CGU exceeds its estimated recoverable amount. Impairment losses are recognised in the income statement. Impairment losses recognised in respect of CGUs are allocated first to reduce the carrying amount of any goodwill allocated to the units, and then to reduce the carrying amounts of the other assets in the unit (group of units) on a pro rata basis. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-286": { "value": "Cash and cash equivalents Cash and cash equivalents comprise cash balances and call deposits with original maturities of three months or less. Where the original maturity exceeds three months, amounts are classified as money market deposits and presented separately within the balance sheet. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-287": { "value": "Provisions A provision is recognised if, as a result of a past event, the Group has a present legal or constructive obligation that can be reliably estimated and it is probable that an outflow of economic benefits will be required to settle the obligation. Dilapidation provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-288": { "value": "Leases When a contractual arrangement contains a lease, the Group recognises a lease liability and a corresponding right of use asset at the commencement of the lease. At the commencement date the lease liability is measured at the present value of the future lease payments, discounted using the Group\u2019s incremental borrowing rate where the interest rate in the lease is not readily determined. Subsequently, the lease liability is adjusted by increasing the carrying amount to reflect interest on the lease liability, reducing the carrying amount to reflect the lease payments made and remeasuring the carrying amount to reflect any reassessment or lease modifications. The lease term is determined from the commencement date of the lease and covers the non-cancellable term. If the Group has an extension option, which it considers it is reasonably certain to exercise, then the lease term will be considered to extend beyond that non-cancellable period. If the Group has a termination option, which it considers it is reasonably certain to exercise, then the lease term will be considered to be until the point the termination option will take effect. At the commencement date the right of use asset is measured at an amount equal to the lease liability plus any lease payments made before the commencement date and any initial direct costs, less any lease incentive payments. An estimate of costs to be incurred in restoring an asset, in accordance with the terms of the lease, is also included in the right of use asset at initial recognition. Subsequently, the right of use asset is depreciated over the life of the lease term. An adjustment is also made to the right of use asset to reflect any remeasurement of the corresponding lease liability. The right of use assets are also subject to impairment testing under IAS 36. Short-term leases and low value leases are not recognised as lease liabilities and right of use assets but are recognised as an expense straight line over the lease term. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-289": { "value": "Employee benefits (i) Pensions The Group provides access to stakeholder pension schemes (defined contribution pension plans). Obligations for contributions to defined contribution pension plans are recognised as an employee benefit expense in the income statement when they are incurred. (ii) Employee share schemes The Group provides share-based incentive plans allowing Executive Directors and other employees to acquire shares in the Company. An expense is recognised in the income statement, with a corresponding increase in equity, over the period during which the employees become unconditionally entitled to acquire equity-settled share-based incentives. Fair value at the grant date is measured using either the Monte Carlo or Black Scholes pricing model as is most appropriate for each scheme. Measurement inputs include: share price on measurement date; exercise price of the instrument; expected volatility (based on weighted average historic volatility adjusted for changes expected due to publicly available information); weighted average expected life of the instruments (based on historical experience and general option behaviour); expected dividends; and risk-free interest rates (based on government bonds). Service and non-market performance conditions attached to the awards are not taken into account in determining the fair value of the individual shares awarded. For share-based incentive awards with non-vesting conditions, the grant date fair value of the share- based incentives is measured to reflect such conditions and there is no true-up for differences between expected and actual outcomes. When either the employee or the Company chooses not to meet the non- vesting condition, the failure to meet the non-vesting condition is treated as a cancellation and the cost that would have been recognised over the remainder of the vesting period is recognised immediately in the income statement. For awards with market-related performance criteria (such as TSR), an expense is recognised over the vesting period irrespective of whether the market condition is satisfied. Share awards to employees are made by the Company and treated as equity-settled share-based payments; share-based payments awards which are share-holder approved schemes (DSP and PSP) are settled via treasury shares for employees. EBT shares are used for the non-shareholder approved schemes (RSP) and for the SAYE shares. The SIP shares are used to settle the SIP award of free shares to employees. (iii) Own shares held by the Rightmove Employee Share Trust (EBT) The Group put in place an employee benefit trust (EBT) several years ago. The EBT was sponsored and funded by the parent company at the time, which was Rightmove Group Limited. Whilst the Group was since restructured under a new topco \u2013 the Company Rightmove plc \u2013 the sponsorship of the trust was not changed and the EBT shares were held in the subsidiary Rightmove Group Limited until 1 January 2023. At this point, the sponsorship of the trust was transferred to Rightmove plc via a dividend in specie. EBT transactions are now treated as being those of Rightmove plc, rather than of Rightmove Group Limited, and are charged directly to equity. There is no impact on the consolidated Group position. (iv) Own shares held by the Rightmove Share Incentive Plan Trust (SIP) The Company established the Rightmove Share Incentive Plan Trust (SIP) in November 2014. The SIP is treated as an agent of Rightmove plc, and as such SIP transactions are treated as being those of Rightmove plc and are therefore reflected in the Group\u2019s consolidated financial statements. At a consolidated level, the SIP\u2019s purchases of shares in the Company are charged directly to equity. (v) Own shares held by treasury The Company bought the treasury shares in 2008 and these shares may be used to satisfy share holder approved share-based incentive awards. (vi) National Insurance (NI) on share-based incentives Employer NI is accrued, where applicable, at a rate of 13.8%, which management expects to be the prevailing rate when share-based incentives are exercised. In the case of share options, it is provided on the difference between the share price at the reporting date and the average exercise price of share options. In the case of nil cost performance shares and deferred shares, it is provided based on the share price at the reporting date. The NI on share-based payments in relation to the exercise of the shares is charged to the income statement over the vesting period of the award. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-325": { "value": "(ii) Employee share schemes The Group provides share-based incentive plans allowing Executive Directors and other employees to acquire shares in the Company. An expense is recognised in the income statement, with a corresponding increase in equity, over the period during which the employees become unconditionally entitled to acquire equity-settled share-based incentives. Fair value at the grant date is measured using either the Monte Carlo or Black Scholes pricing model as is most appropriate for each scheme. Measurement inputs include: share price on measurement date; exercise price of the instrument; expected volatility (based on weighted average historic volatility adjusted for changes expected due to publicly available information); weighted average expected life of the instruments (based on historical experience and general option behaviour); expected dividends; and risk-free interest rates (based on government bonds). Service and non-market performance conditions attached to the awards are not taken into account in determining the fair value of the individual shares awarded. For share-based incentive awards with non-vesting conditions, the grant date fair value of the share- based incentives is measured to reflect such conditions and there is no true-up for differences between expected and actual outcomes. When either the employee or the Company chooses not to meet the non- vesting condition, the failure to meet the non-vesting condition is treated as a cancellation and the cost that would have been recognised over the remainder of the vesting period is recognised immediately in the income statement. For awards with market-related performance criteria (such as TSR), an expense is recognised over the vesting period irrespective of whether the market condition is satisfied. Share awards to employees are made by the Company and treated as equity-settled share-based payments; share-based payments awards which are share-holder approved schemes (DSP and PSP) are settled via treasury shares for employees. EBT shares are used for the non-shareholder approved schemes (RSP) and for the SAYE shares. The SIP shares are used to settle the SIP award of free shares to employees. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-290": { "value": "Treasury shares and shares purchased for cancellation When share capital recognised as equity is repurchased, the amount of the consideration paid, including directly attributable costs, is recognised as a deduction from equity. Repurchased shares are either held in treasury or cancelled. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-291": { "value": "Financial instruments Under IFRS 9, on initial recognition, a financial asset is classified and measured at: amortised cost, fair value through profit or loss or fair value though other comprehensive income. A financial asset is measured at amortised cost if it meets both of the following conditions: it is held within a business model whose objective is to hold assets to collect contractual cash flows; and its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Under IFRS 9, trade receivables without a significant financing component are classified and held at amortised cost, being initially measured at the transaction price and subsequently measured at amortised cost less any impairment loss. The Group has elected to measure loss allowances for trade receivables and contract assets at an amount equal to lifetime expected credit losses (ECLs). Credit losses are measured as the present value of all cash shortfalls (i.e. the difference between the cash flows due to the entity in accordance with the contract and the cash flows that the Group expects to receive). The Group assumes that the credit risk on a financial asset has increased significantly if it is more than 30 days past due. The Group assesses whether a financial asset is in default on a case by case basis when it becomes probable that the customer is unlikely to pay its credit obligations. The gross carrying amount of a financial asset is written off when the Group has no reasonable expectations of recovering a financial asset in its entirety or a portion thereof. For all customers, the Group individually makes an assessment with respect to the timing and amount of write-off based on whether there is a reasonable expectation of recovery. The Group expects no significant recovery from the amount written off. However, financial assets that are written off could still be subject to enforcement activities in order to comply with the Group\u2019s procedures for recovery of amounts due. When required, ECLs are adjusted to include any macro economic factors. At each reporting date, the Group assesses whether financial assets carried at amortised cost are \u2018credit-impaired\u2019. A financial asset is \u2018credit-impaired\u2019 when one or more events that have a detrimental impact on the estimated future cash flows of the financial asset have occurred. Financial assets are derecognised when the rights to receive cash flows from the asset have expired or the Group has transferred its rights to receive cash flows from the asset. On initial recognition financial liabilities are measured at fair value, they are classified and subsequently measured at amortised cost. Financial liabilities measured at amortised cost include trade and other payables and lease liabilities. Financial liabilities are derecognised when the obligation under the liability is discharged, cancelled or expires. The Coadjute Ltd equity investment is measured at fair value on initial recognition and then subsequently at fair value through profit or loss applying IFRS 9.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-366": { "value": "Under IFRS 9, on initial recognition, a financial asset is classified and measured at: amortised cost, fair value through profit or loss or fair value though other comprehensive income. On initial recognition financial liabilities are measured at fair value, they are classified and subsequently measured at amortised cost. Financial liabilities measured at amortised cost include trade and other payables and lease liabilities. The Coadjute Ltd equity investment is measured at fair value on initial recognition and then subsequently at fair value through profit or loss applying IFRS 9.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-353": { "value": "Under IFRS 9, on initial recognition, a financial asset is classified and measured at: amortised cost, fair value through profit or loss or fair value though other comprehensive income. The Coadjute Ltd equity investment is measured at fair value on initial recognition and then subsequently at fair value through profit or loss applying IFRS 9.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-326": { "value": "Under IFRS 9, on initial recognition, a financial asset is classified and measured at: amortised cost, fair value through profit or loss or fair value though other comprehensive income. A financial asset is measured at amortised cost if it meets both of the following conditions: it is held within a business model whose objective is to hold assets to collect contractual cash flows; and its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Under IFRS 9, trade receivables without a significant financing component are classified and held at amortised cost, being initially measured at the transaction price and subsequently measured at amortised cost less any impairment loss. The Group has elected to measure loss allowances for trade receivables and contract assets at an amount equal to lifetime expected credit losses (ECLs). Credit losses are measured as the present value of all cash shortfalls (i.e. the difference between the cash flows due to the entity in accordance with the contract and the cash flows that the Group expects to receive). The Group assumes that the credit risk on a financial asset has increased significantly if it is more than 30 days past due. The Group assesses whether a financial asset is in default on a case by case basis when it becomes probable that the customer is unlikely to pay its credit obligations. The gross carrying amount of a financial asset is written off when the Group has no reasonable expectations of recovering a financial asset in its entirety or a portion thereof. For all customers, the Group individually makes an assessment with respect to the timing and amount of write-off based on whether there is a reasonable expectation of recovery. The Group expects no significant recovery from the amount written off. However, financial assets that are written off could still be subject to enforcement activities in order to comply with the Group\u2019s procedures for recovery of amounts due. When required, ECLs are adjusted to include any macro economic factors. At each reporting date, the Group assesses whether financial assets carried at amortised cost are \u2018credit-impaired\u2019. A financial asset is \u2018credit-impaired\u2019 when one or more events that have a detrimental impact on the estimated future cash flows of the financial asset have occurred. Financial assets are derecognised when the rights to receive cash flows from the asset have expired or the Group has transferred its rights to receive cash flows from the asset. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-371": { "value": "Under IFRS 9, trade receivables without a significant financing component are classified and held at amortised cost, being initially measured at the transaction price and subsequently measured at amortised cost less any impairment loss. The Group has elected to measure loss allowances for trade receivables and contract assets at an amount equal to lifetime expected credit losses (ECLs). Credit losses are measured as the present value of all cash shortfalls (i.e. the difference between the cash flows due to the entity in accordance with the contract and the cash flows that the Group expects to receive). ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-354": { "value": "Financial assets are derecognised when the rights to receive cash flows from the asset have expired or the Group has transferred its rights to receive cash flows from the asset. Financial liabilities are derecognised when the obligation under the liability is discharged, cancelled or expires. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-327": { "value": "On initial recognition financial liabilities are measured at fair value, they are classified and subsequently measured at amortised cost. Financial liabilities measured at amortised cost include trade and other payables and lease liabilities. Financial liabilities are derecognised when the obligation under the liability is discharged, cancelled or expires. The Coadjute Ltd equity investment is measured at fair value on initial recognition and then subsequently at fair value through profit or loss applying IFRS 9.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-372": { "value": "Financial liabilities measured at amortised cost include trade and other payables and lease liabilities. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-292": { "value": "Segmental reporting Rightmove has one reportable segment, being the consolidated result. Whilst the Chief Operating Decision Maker separately monitors revenue for different business units, they do not separately monitor business unit profit, operating costs, financial income, financial expenses and income taxes for these areas of the business, instead monitoring this on a consolidated level. The Group presents internal financial information that measures business performance to the Chief Executive Officer, who is the Group\u2019s Chief Operating Decision Maker. This information is used for the purpose of making decisions about resources to be allocated and assessing performance. This financial information includes information on revenue performance and specific monitoring of trade receivable levels for each of the following business units: \u2022 Agency, which provides resale and lettings property advertising services, rental operators advertising and rental services on Rightmove\u2019s platforms; \u2022 New Homes, which provides property advertising services to new home developers and housing associations on Rightmove\u2019s platforms; and \u2022 Other, which comprises Commercial and Overseas property advertising services; and non-property advertising services which include our Third Party advertising and Data Services; and the Financial Services (Mortgages) business. All revenues in all periods are derived from third parties. The disaggregated revenue is included within Note 4. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-293": { "value": "Financial income and expenses Financial income comprises interest receivable on cash balances and money market deposits. Interest income is recognised as it accrues, using the effective interest method. Financial expenses comprise banking fees and bank charges and the unwinding of the discount on provisions and lease liabilities. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-328": { "value": "Financial income and expenses Financial income comprises interest receivable on cash balances and money market deposits. Interest income is recognised as it accrues, using the effective interest method. Financial expenses comprise banking fees and bank charges and the unwinding of the discount on provisions and lease liabilities. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-355": { "value": "Financial income and expenses Financial income comprises interest receivable on cash balances and money market deposits. Interest income is recognised as it accrues, using the effective interest method. Financial expenses comprise banking fees and bank charges and the unwinding of the discount on provisions and lease liabilities. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-294": { "value": "Taxation Income tax on the results for the year comprises current and deferred tax. Income tax is recognised in the income statement except to the extent that it relates to items recognised directly in equity, in which case it is recognised in equity. Current tax is the expected tax payable on the taxable income for the period net of any charge or credit posted directly to equity, using tax rates enacted or substantively enacted at the reporting date and any adjustment to tax payable in respect of previous periods. Deferred tax is provided in respect of temporary difference between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for tax purposes. The amount of deferred tax provided is based on the expected manner of realisation or settlement of the carrying amount of assets and liabilities, using tax rates enacted or substantively enacted at the reporting date. A deferred tax asset is recognised only to the extent that it is probable that future taxable profits will be available against which the asset can be utilised. The following temporary differences are not provided for: the initial recognition of goodwill; the initial recognition of other assets or liabilities in a transaction that affects neither the taxable profit nor the accounting profit, other than in a business combination; and the differences relating to investments in subsidiaries to the extent that the parent company is able to control the reversal and it is probable that the temporary difference will not reverse in the foreseeable future. The initial recognition exception does not apply to lease transactions which give rise to equal taxable and deductible temporary differences. However, as the tax deductions relate to the lease assets, no temporary differences arose on these at initial recognition. In accordance with IAS 12, the Group policy in relation to the recognition of deferred tax on the exercise of share-based incentives is to include the income tax effect of the tax deduction in the income statement, up to the value of the income tax charge on the cumulative IFRS 2 charge. The remainder of the income tax effect of the tax deduction is recognised in equity. Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and it is the intention to settle these on a net basis.
Factors affecting future tax charge
The increase in the UK corporation tax rate from 19% to 25% was effective 1 April 2023 (substantively
enacted on 24 May 2021). This has increased the Group\u2019s current tax rate accordingly. The deferred tax
at 31 December 2023 and 31 December 2024 has been calculated based on these rates, reflecting the
expected timing of reversal of the related temporary differences
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-329": { "value": "Deferred tax is provided in respect of temporary difference between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for tax purposes. The amount of deferred tax provided is based on the expected manner of realisation or settlement of the carrying amount of assets and liabilities, using tax rates enacted or substantively enacted at the reporting date. A deferred tax asset is recognised only to the extent that it is probable that future taxable profits will be available against which the asset can be utilised. The following temporary differences are not provided for: the initial recognition of goodwill; the initial recognition of other assets or liabilities in a transaction that affects neither the taxable profit nor the accounting profit, other than in a business combination; and the differences relating to investments in subsidiaries to the extent that the parent company is able to control the reversal and it is probable that the temporary difference will not reverse in the foreseeable future. The initial recognition exception does not apply to lease transactions which give rise to equal taxable and deductible temporary differences. However, as the tax deductions relate to the lease assets, no temporary differences arose on these at initial recognition. In accordance with IAS 12, the Group policy in relation to the recognition of deferred tax on the exercise of share-based incentives is to include the income tax effect of the tax deduction in the income statement, up to the value of the income tax charge on the cumulative IFRS 2 charge. The remainder of the income tax effect of the tax deduction is recognised in equity. Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and it is the intention to settle these on a net basis. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-295": { "value": "Dividends Dividends unpaid at the reporting date are only recognised as a liability (and deduction to equity) at that date to the extent that they are appropriately authorised and are no longer at the discretion of the Company. Unpaid dividends that do not meet these criteria are disclosed in the notes to the financial statements.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-296": { "value": "Earnings per share (EPS) The Group presents basic and diluted EPS data for its ordinary shares. Basic EPS is calculated by dividing the profit or loss attributable to equity holders of the Company by the weighted average number of ordinary shares outstanding during the year, adjusted for own shares held. For diluted EPS, the weighted average number of ordinary shares in issue is adjusted to assume conversion of all potentially dilutive shares. The Group\u2019s potential dilutive instruments are in respect of share-based incentives granted to employees, which will be settled by ordinary shares held by the EBT, the SIP and shares held in treasury. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-297": { "value": "
3 Risk and capital management
Overview
The Group has exposure to the following risks from its use of financial instruments:
\u2022 credit risk
\u2022 liquidity risk
\u2022 market risk
This note presents information about the Group\u2019s exposure to each of the above risks, the Group\u2019s
objectives, policies and processes for measuring and managing risk and the Group\u2019s management of
capital. Further quantitative disclosures are included throughout these consolidated financial statements.
Credit risk
Credit risk is the risk of financial loss to the Group if a customer or banking institution fails to meet its
contractual obligations.
The Group\u2019s exposure to credit risk is influenced mainly by the individual characteristics of each customer.
The Group provides credit to customers in the normal course of business. The Group provides its services
to a wide range of customers in the UK and overseas and therefore believes it has no material
concentration of credit risk.
The majority of the Group\u2019s customers pay via monthly direct debit, minimising the risk of non-payment.
The Group establishes an expected credit loss that represents its estimate of losses in respect of trade
and other receivables, including contract assets. Further details of these are given in Note 24.
The Group\u2019s treasury policy is to monitor cash and deposit balances on a daily basis and to manage
counterparty risk by ensuring that no more than \u00a350,000,000 is held with any single institution.
Liquidity risk
Liquidity risk is the risk that the Group will encounter difficulties in meeting the obligations associated with
its financial liabilities that are settled by delivering cash. The Group\u2019s approach to managing liquidity is to
ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under
both normal and stressed conditions, without incurring unacceptable losses or risking damage to the
Group\u2019s reputation.
The Group\u2019s revenue model is largely subscription-based, which results in a regular level of cash
conversion allowing it to service working capital requirements.
The Group ensures that it has sufficient cash on demand to meet expected operational expenses,
excluding the potential impact of extreme circumstances that cannot reasonably be predicted, such
as natural disasters. Throughout the year, the Group typically had sufficient cash on demand to meet
operational expenses, before financing activities, for a period of 128 days (2023: 152 days).
Market risk
Market risk is the risk that changes in market prices such as foreign exchange and interest rates will affect
the Group\u2019s income. The objective of market risk management is to manage and control market risk
exposures within acceptable parameters, while optimising the return on risk.
(i) Currency risk
All of the Group\u2019s sales and more than 92% (2023: 97%) of the Group\u2019s purchases are sterling
denominated, accordingly it has no significant currency risk.
(ii) Interest rate risk
The Group has interest bearing lease liabilities, although the interest on these is insignificant. The Group
is exposed to interest rate risk on cash and money market deposit balances. The Group has no interest
bearing financial liabilities.
Capital management
The Board\u2019s policy is to maintain an efficient statement of financial position \u2013 to maintain investor,
creditor and market confidence and to sustain future development of the business. The Board of
Directors considers that the future working capital and capital expenditure requirements of the Group
will continue to be low and accordingly return on capital measures are not key performance targets. The
Board of Directors monitors the spread of the Company\u2019s shareholders as well as basic EPS. The Board\u2019s
policy is to return surplus capital to shareholders through a combination of dividends and share buybacks.
(i) Dividend policy
The Board of Directors has a progressive dividend policy and monitors the level of dividends to ordinary
shareholders relative to the growth in underlying profit. The Board has adopted this policy to align
shareholder returns with the underlying growth achieved in the profitability of the Company.
The capacity of the Company to make dividend payments is primarily determined by the level of available
retained earnings in the Company, after deduction of own shares held, and the cash resources of the
Group. At 31 December 2024, the Group had cash of \u00a335,761,000 (2023: \u00a333,641,000) and money
market deposits of \u00a35,482,000 (2023: \u00a35,224,000), the majority of which is held by the principal operating
subsidiary, Rightmove Group Limited. The Company is well positioned to fund its future dividends given
the strong cash generative nature of the business. In 2024, cash generated from operating activities
was \u00a3277,617,000 (2023: \u00a3268,181,000) representing an operating cash conversion rate of 108%
(2023: 104%) where operating cash conversion is defined as the cash flow from operating activities
divided by the operating profit for the year.
(ii) Share buybacks
The Group purchases its own shares in the market, the timing of which depends on available free cash flow
and market conditions. In 2024, 18,772,755 (2023: 23,951,466) shares were bought back at an average
price of \u00a35.72 (2023: \u00a35.43) and were cancelled (Note 21).
There were no changes in the Group\u2019s approach to capital management during the year. Neither the
Company nor any of its subsidiaries are subject to externally imposed capital requirements.
Credit risk
The carrying amount of financial assets represents the maximum credit exposure. The maximum
exposure to credit risk at the reporting date was:
2024 2023
Note \u00a3000 \u00a3000
Net trade receivables
16
21,817
24,491
Accrued interest receivable
16
361
405
Contract assets
4
1,270
759
Other debtors
16
572
319
Cash and cash equivalents
17
35,761
33,641
Money market deposits
17
5,482
5,224
65,263
64,839
The trade receivables balance is spread across a significant number of different customers with no single
debtor representing more than 3% of the total balance due (2023: 2%).
The maximum exposure to credit risk for trade receivables at the reporting date by geographic
region was:
2024 2023
Note \u00a3000 \u00a3000
UK
4
21,796
24,480
Rest of the world
4
21
11
16
21,817
24,491
The maximum exposure to credit risk for trade receivables at the reporting date by type of customer was:
2024
2023
Note \u00a3000 \u00a3000
Property products
18,441
20,390
Other
3,376
4,101
16
21,817
24,491
The Group\u2019s most significant customer accounts for \u00a3669,000 (2023: \u00a3499,000) of net trade receivables
as at 31 December 2024.
Expected credit loss assessment
For the Group\u2019s smaller Agency and Overseas customers, expected credit losses are measured using a
provisioning matrix based on the reason the trade receivable is past due or for current debtors at risk of
recovery. The provision matrix rates are based on actual credit loss experience over the past three years
and adjusted, when required, to take into account current macro economic factors.
For all other customers the Group applies experienced credit judgement to assess the expected credit loss,
whilst considering account external ratings, financial statements and other available information. Overall,
the impact on credit risk is minimal due to most customers paying in advance on a subscription basis.
The following table provides information about the exposure to credit risk and expected credit losses
for trade receivables, including contract assets, from individual customers as at 31 December 2024.
The weighted-average loss rate in 2024 was 6.2% (2023: 4.7%) reflecting a provision for a single
customer at the end of 2024 \u2013 without this provision, the average loss rate would be 4.2%.
Weighted- Gross carrying Loss
average loss amount allowance Credit-
2024 rate \u00a3000 \u00a3000 impaired
Current
1.8%
17,488
(310
)
No
Past due 1 \u2013 30 days
8.8%
4,849
(427)
No
Past due 31 \u2013 60 days
8.8%
1,009
(89)
No
Past due 61 \u2013 90 days
19.5%
369
(72)
No
More than 91 days past due
69.5%
886
(616
)
No
24,601
(1,514)
Weighted- Gross carrying
average loss amount Loss allowance
2023 rate \u00a3000 \u00a3000
Credit
-impaired
Current
1.1%
16,140
(177)
No
Past due 1 \u2013 30 days
2.2%
4,677
(101)
No
Past due 31 \u2013 60 days
6.5%
1,612
(104)
No
Past due 61 \u2013 90 days
8.4%
738
(62)
No
More than 91 days past due
24.0%
3,332
(801)
No
26,499
(1,249)
The movement in the allowance for impairment in respect of trade receivables during the year was
as follows:
2024 2023
Note \u00a3000 \u00a3000
At 1 January
1,249
845
Charged during the year
1,620
1,712
Utilised during the year
(1,355
)
(1,308)
At 31 December
16
1,514
1,249
The allowance accounts in respect of trade receivables are used to record impairment losses unless the
Group is satisfied that no recovery of the amount owing is possible; at that point the amounts considered
irrecoverable are written off against the financial asset directly.
Liquidity risk
The contractual maturities of undiscounted financial liabilities, including undiscounted estimated interest
payments, were:
Carrying Contractual 6 months
6-12
amount cash flows or less months
\u00a3000 \u00a3000 \u00a3000
\u00a3000
1-2 years
2-5 years
At 31 December 2024
Trade payables being non-derivative
financial liabilities
1,326
(1,326)
(1,326)
\u2013 \u2013 \u2013
Trade accruals being non-derivative
financial liabilities
9,270
(8,170)
(8,170)
\u2013 \u2013 \u2013
Lease liabilities
6,162
(6,383)
(1,337)
(1,337)
(2,703)
(1,006)
Deferred consideration
417
(417)
\u2013
\u2013
(417)
\u2013
Total
17,175
(16,296)
(10,833)
(1,337)
(3,120) (1,006)
At 31 December 2023
Trade payables being non-derivative
financial liabilities
2,057
(2,057)
(2,057)
\u2013 \u2013 \u2013
Trade accruals being non-derivative
financial liabilities
7,662
(6,978)
(6,978)
\u2013 \u2013 \u2013
Lease liabilities
7,403
(7,830)
(1,293)
(1,293)
(2,437) (2,808)
Total
17,122
(16,865)
(10,328)
(1,293)
(2,437) (2,808)
It is not expected that the cash flows included in the maturity analysis could occur earlier or at significantly
different amounts and all payments excluding leases and deferred consideration are due within six months
of the balance sheet date.
Currency risk
During 2024 all the Group's sales and more than 92.0% (2023: 97.0%) of the Group\u2019s purchases were
sterling denominated and accordingly it has no significant currency risk.
Interest rate risk The Group has exposure to interest rate risk on its cash and cash equivalent balances and money market deposit balances. As at 31 December 2024 the Group had total cash of \u00a335,761,000 (2023: \u00a333,641,000) and money market deposits of \u00a35,482,000 (2023: \u00a35,224,000). The variation of 100 basis points in the interest rate on cash and cash equivalents (with all other variables held constant) will increase or decrease pre-tax profit for the year by \u00a30.6m (2023: \u00a30.5m). Fair values The fair values of all financial instruments in both years are equal to the carrying values.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-330": { "value": "Credit risk Credit risk is the risk of financial loss to the Group if a customer or banking institution fails to meet its contractual obligations. The Group\u2019s exposure to credit risk is influenced mainly by the individual characteristics of each customer. The Group provides credit to customers in the normal course of business. The Group provides its services to a wide range of customers in the UK and overseas and therefore believes it has no material concentration of credit risk. The majority of the Group\u2019s customers pay via monthly direct debit, minimising the risk of non-payment. The Group establishes an expected credit loss that represents its estimate of losses in respect of trade and other receivables, including contract assets. Further details of these are given in Note 24. The Group\u2019s treasury policy is to monitor cash and deposit balances on a daily basis and to manage counterparty risk by ensuring that no more than \u00a350,000,000 is held with any single institution. Credit risk The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk at the reporting date was:
2024 2023
Note \u00a3000 \u00a3000
Net trade receivables
16
21,817
24,491
Accrued interest receivable
16
361
405
Contract assets
4
1,270
759
Other debtors
16
572
319
Cash and cash equivalents
17
35,761
33,641
Money market deposits
17
5,482
5,224
65,263
64,839
The trade receivables balance is spread across a significant number of different customers with no single debtor representing more than 3% of the total balance due (2023: 2%). The maximum exposure to credit risk for trade receivables at the reporting date by geographic region was:
2024 2023
Note \u00a3000 \u00a3000
UK
4
21,796
24,480
Rest of the world
4
21
11
16
21,817
24,491
The maximum exposure to credit risk for trade receivables at the reporting date by type of customer was:
2024
2023
Note \u00a3000 \u00a3000
Property products
18,441
20,390
Other
3,376
4,101
16
21,817
24,491
The Group\u2019s most significant customer accounts for \u00a3669,000 (2023: \u00a3499,000) of net trade receivables as at 31 December 2024. Expected credit loss assessment For the Group\u2019s smaller Agency and Overseas customers, expected credit losses are measured using a provisioning matrix based on the reason the trade receivable is past due or for current debtors at risk of recovery. The provision matrix rates are based on actual credit loss experience over the past three years and adjusted, when required, to take into account current macro economic factors. For all other customers the Group applies experienced credit judgement to assess the expected credit loss, whilst considering account external ratings, financial statements and other available information. Overall, the impact on credit risk is minimal due to most customers paying in advance on a subscription basis. The following table provides information about the exposure to credit risk and expected credit losses for trade receivables, including contract assets, from individual customers as at 31 December 2024. The weighted-average loss rate in 2024 was 6.2% (2023: 4.7%) reflecting a provision for a single customer at the end of 2024 \u2013 without this provision, the average loss rate would be 4.2%.
Weighted- Gross carrying Loss
average loss amount allowance Credit-
2024 rate \u00a3000 \u00a3000 impaired
Current
1.8%
17,488
(310
)
No
Past due 1 \u2013 30 days
8.8%
4,849
(427)
No
Past due 31 \u2013 60 days
8.8%
1,009
(89)
No
Past due 61 \u2013 90 days
19.5%
369
(72)
No
More than 91 days past due
69.5%
886
(616
)
No
24,601
(1,514)
Weighted- Gross carrying
average loss amount Loss allowance
2023 rate \u00a3000 \u00a3000
Credit
-impaired
Current
1.1%
16,140
(177)
No
Past due 1 \u2013 30 days
2.2%
4,677
(101)
No
Past due 31 \u2013 60 days
6.5%
1,612
(104)
No
Past due 61 \u2013 90 days
8.4%
738
(62)
No
More than 91 days past due
24.0%
3,332
(801)
No
26,499
(1,249)
The movement in the allowance for impairment in respect of trade receivables during the year was as follows:
2024 2023
Note \u00a3000 \u00a3000
At 1 January
1,249
845
Charged during the year
1,620
1,712
Utilised during the year
(1,355
)
(1,308)
At 31 December
16
1,514
1,249
The allowance accounts in respect of trade receivables are used to record impairment losses unless the Group is satisfied that no recovery of the amount owing is possible; at that point the amounts considered irrecoverable are written off against the financial asset directly. ", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-331": { "value": "Liquidity risk Liquidity risk is the risk that the Group will encounter difficulties in meeting the obligations associated with its financial liabilities that are settled by delivering cash. The Group\u2019s approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Group\u2019s reputation. The Group\u2019s revenue model is largely subscription-based, which results in a regular level of cash conversion allowing it to service working capital requirements. The Group ensures that it has sufficient cash on demand to meet expected operational expenses, excluding the potential impact of extreme circumstances that cannot reasonably be predicted, such as natural disasters. Throughout the year, the Group typically had sufficient cash on demand to meet operational expenses, before financing activities, for a period of 128 days (2023: 152 days). Liquidity risk The contractual maturities of undiscounted financial liabilities, including undiscounted estimated interest payments, were:
Carrying Contractual 6 months
6-12
amount cash flows or less months
\u00a3000 \u00a3000 \u00a3000
\u00a3000
1-2 years
2-5 years
At 31 December 2024
Trade payables being non-derivative
financial liabilities
1,326
(1,326)
(1,326)
\u2013 \u2013 \u2013
Trade accruals being non-derivative
financial liabilities
9,270
(8,170)
(8,170)
\u2013 \u2013 \u2013
Lease liabilities
6,162
(6,383)
(1,337)
(1,337)
(2,703)
(1,006)
Deferred consideration
417
(417)
\u2013
\u2013
(417)
\u2013
Total
17,175
(16,296)
(10,833)
(1,337)
(3,120) (1,006)
At 31 December 2023
Trade payables being non-derivative
financial liabilities
2,057
(2,057)
(2,057)
\u2013 \u2013 \u2013
Trade accruals being non-derivative
financial liabilities
7,662
(6,978)
(6,978)
\u2013 \u2013 \u2013
Lease liabilities
7,403
(7,830)
(1,293)
(1,293)
(2,437) (2,808)
Total
17,122
(16,865)
(10,328)
(1,293)
(2,437) (2,808)
It is not expected that the cash flows included in the maturity analysis could occur earlier or at significantly different amounts and all payments excluding leases and deferred consideration are due within six months of the balance sheet date. ", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-332": { "value": "Market risk Market risk is the risk that changes in market prices such as foreign exchange and interest rates will affect the Group\u2019s income. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return on risk. (i) Currency risk All of the Group\u2019s sales and more than 92% (2023: 97%) of the Group\u2019s purchases are sterling denominated, accordingly it has no significant currency risk. (ii) Interest rate risk The Group has interest bearing lease liabilities, although the interest on these is insignificant. The Group is exposed to interest rate risk on cash and money market deposit balances. The Group has no interest bearing financial liabilities. Currency risk During 2024 all the Group's sales and more than 92.0% (2023: 97.0%) of the Group\u2019s purchases were sterling denominated and accordingly it has no significant currency risk.
Interest rate risk
The Group has exposure to interest rate risk on its cash and cash equivalent balances and money market
deposit balances. As at 31 December 2024 the Group had total cash of \u00a335,761,000 (2023: \u00a333,641,000)
and money market deposits of \u00a35,482,000 (2023: \u00a35,224,000).
The variation of 100 basis points in the interest rate on cash and cash equivalents (with all other variables
held constant) will increase or decrease pre-tax profit for the year by \u00a30.6m (2023: \u00a30.5m).
", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-333": { "value": "Capital management The Board\u2019s policy is to maintain an efficient statement of financial position \u2013 to maintain investor, creditor and market confidence and to sustain future development of the business. The Board of Directors considers that the future working capital and capital expenditure requirements of the Group will continue to be low and accordingly return on capital measures are not key performance targets. The Board of Directors monitors the spread of the Company\u2019s shareholders as well as basic EPS. The Board\u2019s policy is to return surplus capital to shareholders through a combination of dividends and share buybacks. (i) Dividend policy The Board of Directors has a progressive dividend policy and monitors the level of dividends to ordinary shareholders relative to the growth in underlying profit. The Board has adopted this policy to align shareholder returns with the underlying growth achieved in the profitability of the Company. The capacity of the Company to make dividend payments is primarily determined by the level of available retained earnings in the Company, after deduction of own shares held, and the cash resources of the Group. At 31 December 2024, the Group had cash of \u00a335,761,000 (2023: \u00a333,641,000) and money market deposits of \u00a35,482,000 (2023: \u00a35,224,000), the majority of which is held by the principal operating subsidiary, Rightmove Group Limited. The Company is well positioned to fund its future dividends given the strong cash generative nature of the business. In 2024, cash generated from operating activities was \u00a3277,617,000 (2023: \u00a3268,181,000) representing an operating cash conversion rate of 108% (2023: 104%) where operating cash conversion is defined as the cash flow from operating activities divided by the operating profit for the year. (ii) Share buybacks The Group purchases its own shares in the market, the timing of which depends on available free cash flow and market conditions. In 2024, 18,772,755 (2023: 23,951,466) shares were bought back at an average price of \u00a35.72 (2023: \u00a35.43) and were cancelled (Note 21). There were no changes in the Group\u2019s approach to capital management during the year. Neither the Company nor any of its subsidiaries are subject to externally imposed capital requirements. ", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-298": { "value": "
4 Revenue
The Group\u2019s operations and main revenue streams are those described in these annual financial
statements. The Group\u2019s revenue is derived from contracts with customers.
Disaggregation of revenue
In the following table, revenue is disaggregated by property and non-property advertising revenue.
The table also includes a reconciliation of the disaggregated revenue with the Group\u2019s business units.
Agency
New Homes
Other
Total
Year ended 31 December 2024 \u00a3000 \u00a3000 \u00a3000 \u00a3000
Revenue stream
Property products
279,989
69,198
20,118
369,305
Non-property products
\u2013
\u2013
20,577
20,577
279,989
69,198
40,695
389,882
Agency
New Homes
Other
Total
Year ended 31 December 2023 \u00a3000 \u00a3000 \u00a3000 \u00a3000
Revenue stream
Property products
261,954
66,447
18,877
347,278
Non-property products
\u2013
\u2013
17,038
17,038
261,954
66,447
35,915
364,316
Geographic information
In presenting information geographically, revenue and assets reflect the physical location of customers.
2024
2023
Trade Trade
Revenue receivables Revenue receivables
\u00a3000 \u00a3000 \u00a3000 \u00a3000
UK
384,112
21,796
358,470
24,480
Rest of the world
5,770
21
5,846
11
389,882
21,817
364,316
24,491
Contract balances
The contract assets primarily relate to the Group\u2019s rights to consideration for services provided but not
invoiced at the reporting date. The contract assets are transferred to trade receivables when invoiced and
the rights have become unconditional.
The contract liabilities primarily relate to the advance consideration received from Agency, Overseas and
Commercial customers, for which revenue is recognised as or when the services are provided.
The following table provides information about contract assets and contract liabilities from contracts
with customers:
Contract Contract
assets liabilities
\u00a3000 \u00a3000
Contract balances as at 31 December 2022
454
(2,325)
Performance obligations satisfied in 2022
(454)
\u2013
Performance obligations satisfied in 2023
\u2013
2,114
Accrued/(deferred) during 2023
759
(2,325)
Contract balances as at 31 December 2023
759
(2,536)
Performance obligations satisfied in 2023
(759)
\u2013
Performance obligations satisfied in 2024
\u2013
2,470
Accrued/(deferred) during 2024
1,270
(3,102)
Contract balances as at 31 December 2024
1,270
(3,168)
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-334": { "value": "4 Revenue The Group\u2019s operations and main revenue streams are those described in these annual financial statements. The Group\u2019s revenue is derived from contracts with customers. Disaggregation of revenue In the following table, revenue is disaggregated by property and non-property advertising revenue. The table also includes a reconciliation of the disaggregated revenue with the Group\u2019s business units.
Agency
New Homes
Other
Total
Year ended 31 December 2024 \u00a3000 \u00a3000 \u00a3000 \u00a3000
Revenue stream
Property products
279,989
69,198
20,118
369,305
Non-property products
\u2013
\u2013
20,577
20,577
279,989
69,198
40,695
389,882
Agency
New Homes
Other
Total
Year ended 31 December 2023 \u00a3000 \u00a3000 \u00a3000 \u00a3000
Revenue stream
Property products
261,954
66,447
18,877
347,278
Non-property products
\u2013
\u2013
17,038
17,038
261,954
66,447
35,915
364,316
Geographic information In presenting information geographically, revenue and assets reflect the physical location of customers.
2024
2023
Trade Trade
Revenue receivables Revenue receivables
\u00a3000 \u00a3000 \u00a3000 \u00a3000
UK
384,112
21,796
358,470
24,480
Rest of the world
5,770
21
5,846
11
389,882
21,817
364,316
24,491
Contract balances The contract assets primarily relate to the Group\u2019s rights to consideration for services provided but not invoiced at the reporting date. The contract assets are transferred to trade receivables when invoiced and the rights have become unconditional. The contract liabilities primarily relate to the advance consideration received from Agency, Overseas and Commercial customers, for which revenue is recognised as or when the services are provided. The following table provides information about contract assets and contract liabilities from contracts with customers:
Contract Contract
assets liabilities
\u00a3000 \u00a3000
Contract balances as at 31 December 2022
454
(2,325)
Performance obligations satisfied in 2022
(454)
\u2013
Performance obligations satisfied in 2023
\u2013
2,114
Accrued/(deferred) during 2023
759
(2,325)
Contract balances as at 31 December 2023
759
(2,536)
Performance obligations satisfied in 2023
(759)
\u2013
Performance obligations satisfied in 2024
\u2013
2,470
Accrued/(deferred) during 2024
1,270
(3,102)
Contract balances as at 31 December 2024
1,270
(3,168)
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-356": { "value": "Disaggregation of revenue In the following table, revenue is disaggregated by property and non-property advertising revenue. The table also includes a reconciliation of the disaggregated revenue with the Group\u2019s business units.
Agency
New Homes
Other
Total
Year ended 31 December 2024 \u00a3000 \u00a3000 \u00a3000 \u00a3000
Revenue stream
Property products
279,989
69,198
20,118
369,305
Non-property products
\u2013
\u2013
20,577
20,577
279,989
69,198
40,695
389,882
Agency
New Homes
Other
Total
Year ended 31 December 2023 \u00a3000 \u00a3000 \u00a3000 \u00a3000
Revenue stream
Property products
261,954
66,447
18,877
347,278
Non-property products
\u2013
\u2013
17,038
17,038
261,954
66,447
35,915
364,316
", "dimensions": { "concept": "ifrs-full:DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-357": { "value": "Geographic information In presenting information geographically, revenue and assets reflect the physical location of customers.
2024
2023
Trade Trade
Revenue receivables Revenue receivables
\u00a3000 \u00a3000 \u00a3000 \u00a3000
UK
384,112
21,796
358,470
24,480
Rest of the world
5,770
21
5,846
11
389,882
21,817
364,316
24,491
", "dimensions": { "concept": "ifrs-full:DisclosureOfGeographicalAreasExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-299": { "value": "
5 Operating profit
2024
2023
Note \u00a3000 \u00a3000
Operating profit is stated after charging:
Employee benefits
6
64,420
54,544
Depreciation of property, plant and equipment
12
3,613
3,424
Amortisation of intangibles
13
2,386
1,560
Trade receivables impairment charge
24
1,629
1,712
Legal, professional and transaction-related charges
25
6,230
\u2013
Investment fair value loss
25
3,000
\u2013
Legal and professional fees in relation to transactions includes fees in relation to acquisitions and
investments (Note 25) as well as costs in relation to the unsolicited offer for Rightmove.
2024 2023
Auditor\u2019s remuneration \u00a3000 \u00a3000
Fees payable to the Company\u2019s auditor in respect of the audit
Audit of the Company\u2019s financial statements
60
55
Audit of the Company\u2019s subsidiaries pursuant to legislation
356
345
Total audit remuneration
416
400
Fees payable to the Company\u2019s auditor in respect of non-audit related services
Half year review of the condensed financial statements
66
40
Total non-audit remuneration
66
40
There were no other fees payable to Ernst & Young LLP (2023: no other fees payable).
", "dimensions": { "concept": "ifrs-full:DisclosureOfProfitLossFromOperatingActivitiesExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-358": { "value": "5 Operating profit
2024
2023
Note \u00a3000 \u00a3000
Operating profit is stated after charging:
Employee benefits
6
64,420
54,544
Depreciation of property, plant and equipment
12
3,613
3,424
Amortisation of intangibles
13
2,386
1,560
Trade receivables impairment charge
24
1,629
1,712
Legal, professional and transaction-related charges
25
6,230
\u2013
Investment fair value loss
25
3,000
\u2013
Legal and professional fees in relation to transactions includes fees in relation to acquisitions and investments (Note 25) as well as costs in relation to the unsolicited offer for Rightmove.
2024 2023
Auditor\u2019s remuneration \u00a3000 \u00a3000
Fees payable to the Company\u2019s auditor in respect of the audit
Audit of the Company\u2019s financial statements
60
55
Audit of the Company\u2019s subsidiaries pursuant to legislation
356
345
Total audit remuneration
416
400
Fees payable to the Company\u2019s auditor in respect of non-audit related services
Half year review of the condensed financial statements
66
40
Total non-audit remuneration
66
40
There were no other fees payable to Ernst & Young LLP (2023: no other fees payable). ", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-335": { "value": "
2024
2023
Note \u00a3000 \u00a3000
Operating profit is stated after charging:
Employee benefits
6
64,420
54,544
Depreciation of property, plant and equipment
12
3,613
3,424
Amortisation of intangibles
13
2,386
1,560
Trade receivables impairment charge
24
1,629
1,712
Legal, professional and transaction-related charges
25
6,230
\u2013
Investment fair value loss
25
3,000
\u2013
12 Property, plant and equipment
Office
equipment,
Land & fixtures & Computer Leasehold Motor
buildings* fittings equipment improvements vehicles* Total
Group \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000
Cost
At 1 January 2024
14,924
1,937
13,995
1,127
3,096
35,079
Additions
\u2013
749
284
22
\u2013
1,055
Leased asset additions
\u2013
\u2013
\u2013
\u2013
1,544
1,544
Additions from business combinations
\u2013
1
13
\u2013
\u2013
14
At 31 December 2024
14,924
2,687
14,292
1,149
4,640
37,692
Depreciation
At 1 January 2024
(8,927)
(1,208) (12,141) (862) (2,556) (25,694)
Charge for year
(1,779)
(320) (912) (79) (523) (3,613)
At 31 December 2024
(10,706)
(1,528) (13,053) (941) (3,079) (29,307)
Net book value
At 31 December 2024
4,218
1,159
1,239
208
1,561
8,385
At 31 December 2023
5,997
729
1,854
265
540
9,385
Office
equipment,
Land & fixtures & Computer Leasehold Motor
buildings* fittings equipment improvements
vehicles
(1)
Total
Group \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000
Cost
At 1 January 2023
15,044
1,508
12,416
1,117
2,734
32,819
Additions
\u2013
429
1,579
10
\u2013
2,018
Leased asset additions
\u2013
\u2013
\u2013
\u2013
362
362
Disposal
(120)
\u2013
\u2013
\u2013
\u2013
(120)
At 31 December 2023
14,924
1,937
13,995
1,127
3,096
35,079
Depreciation
At 1 January 2023
(7,273)
(1,021)
(11,257)
(787) (2,052) (22,390)
Charge for year
(1,774)
(187)
(884)
(75) (504) (3,424)
Disposal
120
\u2013
\u2013
\u2013
\u2013
120
At 31 December 2023
(8,927)
(1,208)
(12,141)
(862) (2,556) (25,694)
Net book value
At 31 December 2023
5,997
729
1,854
265
540
9,385
1. Land & buildings and motor vehicles are right of use assets held under leasing arrangements accounted for in accordance with IFRS16. Further disclosure is in Note 19. ", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-336": { "value": "
2024 2023
Auditor\u2019s remuneration \u00a3000 \u00a3000
Fees payable to the Company\u2019s auditor in respect of the audit
Audit of the Company\u2019s financial statements
60
55
Audit of the Company\u2019s subsidiaries pursuant to legislation
356
345
Total audit remuneration
416
400
Fees payable to the Company\u2019s auditor in respect of non-audit related services
Half year review of the condensed financial statements
66
40
Total non-audit remuneration
66
40
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-300": { "value": "
6 Employee numbers and costs
The average number of persons employed (including Executive Directors) during the year, analysed by
category, was as follows:
Number of employees
2024
2023
Administration
792
686
Management
69
41
861
727
The aggregate payroll costs of these persons were as follows:
2024
2023
\u00a3000 \u00a3000
Wages and salaries
54,529
46,420
Social security costs
6,596
5,768
Pension costs
3,295
2,356
64,420
54,544
Share-based payments cost (Note 23)
8,356
6,537
Total
72,776
61,081
Wages and salaries include \u00a328,029,000 (2023: \u00a320,897,000) relating to the product development and
technology teams before the deduction of capitalised staff costs. These teams spend a proportion of
their time on research and development activities, including innovation of our product proposition and
enhancements to the Rightmove platforms, as well as on routine maintenance of the platforms.
Social security costs only include the National Insurance on wages and salaries; the National Insurance
charge of \u00a3917,000 (2023: charge of \u00a3651,000) relating to NI on share-based incentives is included within
the share-based payments cost shown above.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-301": { "value": "
7 Financial income
2024 2023
\u00a3000 \u00a3000
Interest income on cash and cash equivalents
2,359
2,050
Interest income on money market deposits
258
177
2,617
2,227
8 Financial expenses
2024
2023
\u00a3000 \u00a3000
Bank charges
397
287
Interest unwind on lease liabilities
138
204
Interest unwind on dilapidations
12
\u2013
547
491
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-367": { "value": "7 Financial income
2024 2023
\u00a3000 \u00a3000
Interest income on cash and cash equivalents
2,359
2,050
Interest income on money market deposits
258
177
2,617
2,227
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-359": { "value": "7 Financial income
2024 2023
\u00a3000 \u00a3000
Interest income on cash and cash equivalents
2,359
2,050
Interest income on money market deposits
258
177
2,617
2,227
8 Financial expenses
2024
2023
\u00a3000 \u00a3000
Bank charges
397
287
Interest unwind on lease liabilities
138
204
Interest unwind on dilapidations
12
\u2013
547
491
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-337": { "value": "7 Financial income
2024 2023
\u00a3000 \u00a3000
Interest income on cash and cash equivalents
2,359
2,050
Interest income on money market deposits
258
177
2,617
2,227
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-368": { "value": "8 Financial expenses
2024
2023
\u00a3000 \u00a3000
Bank charges
397
287
Interest unwind on lease liabilities
138
204
Interest unwind on dilapidations
12
\u2013
547
491
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-338": { "value": "8 Financial expenses
2024
2023
\u00a3000 \u00a3000
Bank charges
397
287
Interest unwind on lease liabilities
138
204
Interest unwind on dilapidations
12
\u2013
547
491
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-302": { "value": "
9 Income tax expense
2024 2023
\u00a3000 \u00a3000
Current tax expense
Current year
65,214
61,324
Adjustment to current tax charge in respect of prior years
(210
)
149
65,004
61,473
Deferred tax (Note 15)
Origination and reversal of temporary differences
578
(455)
Adjustment to deferred tax in respect of prior years
105
(324)
Increase in tax rate at which deferred tax is being recognised
\u2013
(76)
683
(855)
Total income tax expense
65,687
60,618
Income tax recognised directly in equity
2024
2023
\u00a3000 \u00a3000
Current tax
Share-based incentives
(88
)
(30)
Deferred tax
Share-based incentives
(409
)
(95)
Increase in tax rate at which deferred tax is being recognised
\u2013
(8)
(409
)
(103)
Total income tax credit recognised directly in equity
(497
)
(133)
Reconciliation of effective tax rate
The Group\u2019s consolidated effective tax rate for the year ended 31 December 2024 is 25.4% (2023: 23.3%)
which is higher than (2023: lower than) the standard rate of corporation tax in the UK due to the items
shown below:
2024 2023
\u00a3000 \u00a3000
Profit before tax
258,400
259,769
Current tax at 25.0% (2023: 23.5%)
64,600
61,098
Increase in tax rate at which deferred tax is being provided
\u2013
(76)
Non-deductible expenses/(non-taxable income)
1,068
(44)
Adjustment to deferred tax charge in respect of prior years
105
(324)
Share-based incentives
124
(167)
Adjustment to current tax charge in respect of prior years
(210)
149
Difference between the current and deferred tax rates
\u2013
(18)
65,687
60,618
15 Deferred tax asset and deferred tax liability
Net deferred tax position
Deferred tax assets and liabilities are offset when they relate to income taxes levied by the same tax
authority and the Group intends to settle its current tax assets and liabilities on a net basis.
2024
2023
\u00a3000 \u00a3000
Deferred tax asset
4,659
3,145
Deferred tax liability
(3,210)
(762)
At 31 December
1,449
2,383
The deferred tax asset and deferred tax liability are attributable to the following:
Share-based Property, plant
incentives and equipment Provisions Total
Deferred tax asset \u00a3000 \u00a3000 \u00a3000 \u00a3000
At 1 January 2024
2,773
166
206
3,145
Adjustment in respect of prior year
\u2013
(196)
88
(108)
Recognised in income
906
302
9
1,217
Recognised directly in equity
405
\u2013
\u2013
405
At 31 December 2024
4,084
272
303
4,659
At 1 January 2023
1,982
235
137
2,354
Adjustment in respect of prior year
\u2013
313
64
377
Recognised in income
688
(382)
5
311
Recognised directly in equity
103
\u2013
\u2013
103
At 31 December 2023
2,773
166
206
3,145
Intangibles Intangibles
Deferred tax liability 2024 2023
\u00a3000 \u00a3000
At 1 January
(762)
(894)
Prior year adjustment
(2)
(52)
Arising on business combination
(651)
\u2013
Recognised in income
(2,013)
\u2013
Recognised in income \u2013 amortisation
218
184
At 31 December
(3,210)
(762)
The decrease in the net deferred tax assets at 31 December 2024 reflects the increased deferred tax
liability \u2013 principally arising from the impact of higher software additions and also intangible assets
generated upon business combinations \u2013 which more than offset the increase in the deferred tax asset in
relation to share-based incentives, arising from the impact of the increased share price and increased
number of unvested awards on the share-based payments.
The deferred tax as at 31 December 2024 has been calculated at 25% (2023: 25%) which represents the
average rate at which the assets and liabilities are expected to reverse in the future, based on
substantively enacted UK tax rates.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-303": { "value": "
10 Earnings per share (EPS)
Pence per share
Note
\u00a3000
Basic
Diluted
Year ended 31 December 2024
Profit for the year and EPS
192,713
24.4
24.3
Underlying profit and underlying EPS
1
207,147
26.2
26.1
Year ended 31 December 2023
Profit for the year and EPS
199,151
24.5
24.4
Underlying profit and underlying EPS
1
204,680
25.2
25.1
Weighted average number of ordinary shares (basic)
2024 2023
Number of Number of
shares shares
Issued ordinary shares at 1 January less ordinary shares
held by the EBT and SIP Trust
811,252,473
835,094,530
Less own shares held in treasury at the beginning of the year
(11,709,197)
(12,185,222)
Weighted effect of own shares purchased for cancellation
(8,933,806)
(9,991,531)
Weighted effect of share-based incentives exercised
363,417
433,805
Weighted effect of shares purchased (755,421) (14,726)
Issued ordinary shares at 31 December less ordinary shares
held by treasury, SIP and the EBT
790,217,466
813,336,856
Weighted average number of ordinary shares (diluted)
In calculating diluted EPS, the weighted average number of ordinary shares in issue is adjusted to assume
conversion of all potentially dilutive shares. The Group\u2019s potentially dilutive instruments are in respect
of share-based incentives granted to employees.
2024 2023
Number of Number of
shares shares
Weighted average number of ordinary shares (basic)
790,217,466
 813,336,856
Dilutive impact of share-based incentives outstanding
2,384,515
2,002,000
792,
601,981
815,338,856
The average market value of the Group\u2019s shares for the purposes of calculating the dilutive effect of
share-based incentives was based on quoted market prices during the period which the share-based
incentives were outstanding.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-304": { "value": "
11 Dividends
Dividends declared and paid by the Company were as follows:
2024
2023
Pence
Pence
per share
\u00a3000
per share
\u00a3000
2022 final dividend paid
5.2
42,588
2023 interim dividend paid
3.6
29,084
2023 final dividend paid
5.7
45,226
\u2013
\u2013
2024 interim dividend paid
3.7
29,112
\u2013
\u2013
9.4
74,338
8.8
71,672
Unclaimed dividends returned
(30)
\u2013
(21)
Net dividends included in the statement of cash flows
74,308
\u2013
71,651
After the reporting date, a final dividend of [6.1]p (2023: 5. 7p) per qualifying ordinary share, being
\u00a346,900,000 (2023: \u00a345,330,000), was proposed by the Board of Directors. The final dividend will b
e paid, subject to shareholder approval, on 23 May 2025.
The 2023 final dividend of \u00a345,226,000 (5.7p per qualifying share) was paid on 24 May 2024. It was
\u00a3104,000 lower than that reported in the 2023 Annual Report due to a decrease in the ordinary shares
entitled to a dividend between 2 March 2024 and the final dividend record date of 28 April 2024.
The 2024 interim dividend paid on 25 October 2024 was \u00a329,112,000, being \u00a3412,000 higher than that
reported in the 2024 Half Year report of \u00a328,700,000. This was due to an increase in the expected number
of ordinary shares entitled to a dividend between 30 June 2024 and the interim dividend record date of
27 September 2024.
The terms of the EBT provide that dividends payable on the ordinary shares held by the EBT are waived.
No provision was made for the final dividend in either year, and there are no income tax consequences.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-339": { "value": "0.061", "decimals": 3, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-340": { "value": "0.057", "decimals": 3, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-305": { "value": "
12 Property, plant and equipment
Office
equipment,
Land & fixtures & Computer Leasehold Motor
buildings* fittings equipment improvements vehicles* Total
Group \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000
Cost
At 1 January 2024
14,924
1,937
13,995
1,127
3,096
35,079
Additions
\u2013
749
284
22
\u2013
1,055
Leased asset additions
\u2013
\u2013
\u2013
\u2013
1,544
1,544
Additions from business combinations
\u2013
1
13
\u2013
\u2013
14
At 31 December 2024
14,924
2,687
14,292
1,149
4,640
37,692
Depreciation
At 1 January 2024
(8,927)
(1,208) (12,141) (862) (2,556) (25,694)
Charge for year
(1,779)
(320) (912) (79) (523) (3,613)
At 31 December 2024
(10,706)
(1,528) (13,053) (941) (3,079) (29,307)
Net book value
At 31 December 2024
4,218
1,159
1,239
208
1,561
8,385
At 31 December 2023
5,997
729
1,854
265
540
9,385
Office
equipment,
Land & fixtures & Computer Leasehold Motor
buildings* fittings equipment improvements
vehicles
(1)
Total
Group \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000
Cost
At 1 January 2023
15,044
1,508
12,416
1,117
2,734
32,819
Additions
\u2013
429
1,579
10
\u2013
2,018
Leased asset additions
\u2013
\u2013
\u2013
\u2013
362
362
Disposal
(120)
\u2013
\u2013
\u2013
\u2013
(120)
At 31 December 2023
14,924
1,937
13,995
1,127
3,096
35,079
Depreciation
At 1 January 2023
(7,273)
(1,021)
(11,257)
(787) (2,052) (22,390)
Charge for year
(1,774)
(187)
(884)
(75) (504) (3,424)
Disposal
120
\u2013
\u2013
\u2013
\u2013
120
At 31 December 2023
(8,927)
(1,208)
(12,141)
(862) (2,556) (25,694)
Net book value
At 31 December 2023
5,997
729
1,854
265
540
9,385
1. Land & buildings and motor vehicles are right of use assets held under leasing arrangements accounted for in accordance with
IFRS16. Further disclosure is in Note 19.
", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-341": { "value": "
13 Intangible assets
Computer Software Customer
Goodwill software development relationships Total
\u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000
Cost
At 1 January 2024
16,516
8,999
892
4,521
30,928
Additions
\u2013
6,066
1,957
\u2013
8,023
Additions from business combinations
6,164
757
\u2013
1,845
8,766
At 31 December 2024
22,680
15,822
2,849
6,366
47,717
Amortisation
At 1 January 2024
\u2013
(7,165)
\u2013
(1,921)
(9,086)
Charge for year
\u2013
(1,766)
\u2013
(620)
(2,386)
At 31 December 2024
\u2013
(8,931)
\u2013
(2,541
)
(11,472)
Net book value
At 31 December 2024
22,680
6,891
2,849
3,825
36,245
At 31 December 2023
16,516
1,834
892
2,600
21,842
Computer
Customer
Goodwill software relationships Total
\u00a3000 \u00a3000 \u00a3000 \u00a3000
Cost
At 1 January 2023
16,516
8,563
4,521
29,600
Additions
\u2013
1,328
\u2013
1,328
At 31 December 2023
16,516
9,891
4,521
30,928
Amortisation
At 1 January 2023
\u2013
(6,056)
(1,470) (7,526)
Charge for year
\u2013
(1,109)
(451) (1,560)
At 31 December 2023
\u2013
(7,165)
(1,921) (9,086)
Net book value
At 31 December 2023
16,516
2,726
2,600
21,842
Impairment testing for cash-generating units containing goodwill
The goodwill comprises \u00a36.2m recognised on the acquisition of HomeViews Platform Limited in the
current year (Note 25); \u00a314.1m recognised on the acquisition of Rightmove Landlord & Tenant Services
Limited in 2019; a further \u00a31.7m arising on the acquisition of The Outside View Analytics Limited in May
2016; and \u00a30.7m of purchased goodwill arising pre-transition to IFRS.
Management performed the annual impairment test. For the purposes of impairment testing, goodwill is allocated to the Group\u2019s lowest cash-generating unit which is the Agency only business unit. The calculations used in the cash flow projections are based on the latest three-year business plan which includes revenue per business unit, which has been updated to reflect the most recent developments as at the reporting date. An allocation of costs is then estimated for impairment testing purposes in accordance with IAS 36. The impairment test looked at cash flows over the coming three years. The key assumptions used for modelling purposes were the long-term terminal growth rate of 2% for years outside of the three-year business plan and the pre-tax discount rate used of 10% (2023: 10%). The result of the impairment testing is that the recoverable amount was significantly higher than the carrying amount and there is no impairment. This result is not sensitive to any reasonable possible changes in the key assumptions used. ", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-360": { "value": "13 Intangible assets
Computer Software Customer
Goodwill software development relationships Total
\u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000
Cost
At 1 January 2024
16,516
8,999
892
4,521
30,928
Additions
\u2013
6,066
1,957
\u2013
8,023
Additions from business combinations
6,164
757
\u2013
1,845
8,766
At 31 December 2024
22,680
15,822
2,849
6,366
47,717
Amortisation
At 1 January 2024
\u2013
(7,165)
\u2013
(1,921)
(9,086)
Charge for year
\u2013
(1,766)
\u2013
(620)
(2,386)
At 31 December 2024
\u2013
(8,931)
\u2013
(2,541
)
(11,472)
Net book value
At 31 December 2024
22,680
6,891
2,849
3,825
36,245
At 31 December 2023
16,516
1,834
892
2,600
21,842
Computer
Customer
Goodwill software relationships Total
\u00a3000 \u00a3000 \u00a3000 \u00a3000
Cost
At 1 January 2023
16,516
8,563
4,521
29,600
Additions
\u2013
1,328
\u2013
1,328
At 31 December 2023
16,516
9,891
4,521
30,928
Amortisation
At 1 January 2023
\u2013
(6,056)
(1,470) (7,526)
Charge for year
\u2013
(1,109)
(451) (1,560)
At 31 December 2023
\u2013
(7,165)
(1,921) (9,086)
Net book value
At 31 December 2023
16,516
2,726
2,600
21,842
Impairment testing for cash-generating units containing goodwill The goodwill comprises \u00a36.2m recognised on the acquisition of HomeViews Platform Limited in the current year (Note 25); \u00a314.1m recognised on the acquisition of Rightmove Landlord & Tenant Services Limited in 2019; a further \u00a31.7m arising on the acquisition of The Outside View Analytics Limited in May 2016; and \u00a30.7m of purchased goodwill arising pre-transition to IFRS. Management performed the annual impairment test. For the purposes of impairment testing, goodwill is allocated to the Group\u2019s lowest cash-generating unit which is the Agency only business unit. The calculations used in the cash flow projections are based on the latest three-year business plan which includes revenue per business unit, which has been updated to reflect the most recent developments as at the reporting date. An allocation of costs is then estimated for impairment testing purposes in accordance with IAS 36. The impairment test looked at cash flows over the coming three years. The key assumptions used for modelling purposes were the long-term terminal growth rate of 2% for years outside of the three-year business plan and the pre-tax discount rate used of 10% (2023: 10%). The result of the impairment testing is that the recoverable amount was significantly higher than the carrying amount and there is no impairment. This result is not sensitive to any reasonable possible changes in the key assumptions used. ", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-306": { "value": "13 Intangible assets
Computer Software Customer
Goodwill software development relationships Total
\u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000
Cost
At 1 January 2024
16,516
8,999
892
4,521
30,928
Additions
\u2013
6,066
1,957
\u2013
8,023
Additions from business combinations
6,164
757
\u2013
1,845
8,766
At 31 December 2024
22,680
15,822
2,849
6,366
47,717
Amortisation
At 1 January 2024
\u2013
(7,165)
\u2013
(1,921)
(9,086)
Charge for year
\u2013
(1,766)
\u2013
(620)
(2,386)
At 31 December 2024
\u2013
(8,931)
\u2013
(2,541
)
(11,472)
Net book value
At 31 December 2024
22,680
6,891
2,849
3,825
36,245
At 31 December 2023
16,516
1,834
892
2,600
21,842
Computer
Customer
Goodwill software relationships Total
\u00a3000 \u00a3000 \u00a3000 \u00a3000
Cost
At 1 January 2023
16,516
8,563
4,521
29,600
Additions
\u2013
1,328
\u2013
1,328
At 31 December 2023
16,516
9,891
4,521
30,928
Amortisation
At 1 January 2023
\u2013
(6,056)
(1,470) (7,526)
Charge for year
\u2013
(1,109)
(451) (1,560)
At 31 December 2023
\u2013
(7,165)
(1,921) (9,086)
Net book value
At 31 December 2023
16,516
2,726
2,600
21,842
Impairment testing for cash-generating units containing goodwill The goodwill comprises \u00a36.2m recognised on the acquisition of HomeViews Platform Limited in the current year (Note 25); \u00a314.1m recognised on the acquisition of Rightmove Landlord & Tenant Services Limited in 2019; a further \u00a31.7m arising on the acquisition of The Outside View Analytics Limited in May 2016; and \u00a30.7m of purchased goodwill arising pre-transition to IFRS.
Management performed the annual impairment test. For the purposes of impairment testing,
goodwill is allocated to the Group\u2019s lowest cash-generating unit which is the Agency only business unit.
The calculations used in the cash flow projections are based on the latest three-year business plan which
includes revenue per business unit, which has been updated to reflect the most recent developments
as at the reporting date. An allocation of costs is then estimated for impairment testing purposes
in accordance with IAS 36. The impairment test looked at cash flows over the coming three years.
The key assumptions used for modelling purposes were the long-term terminal growth rate of 2% for
years outside of the three-year business plan and the pre-tax discount rate used of 10% (2023: 10%).
The result of the impairment testing is that the recoverable amount was significantly higher than the
carrying amount and there is no impairment. This result is not sensitive to any reasonable possible
changes in the key assumptions used.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-369": { "value": "Impairment testing for cash-generating units containing goodwill The goodwill comprises \u00a36.2m recognised on the acquisition of HomeViews Platform Limited in the current year (Note 25); \u00a314.1m recognised on the acquisition of Rightmove Landlord & Tenant Services Limited in 2019; a further \u00a31.7m arising on the acquisition of The Outside View Analytics Limited in May 2016; and \u00a30.7m of purchased goodwill arising pre-transition to IFRS. Management performed the annual impairment test. For the purposes of impairment testing, goodwill is allocated to the Group\u2019s lowest cash-generating unit which is the Agency only business unit. The calculations used in the cash flow projections are based on the latest three-year business plan which includes revenue per business unit, which has been updated to reflect the most recent developments as at the reporting date. An allocation of costs is then estimated for impairment testing purposes in accordance with IAS 36. The impairment test looked at cash flows over the coming three years. The key assumptions used for modelling purposes were the long-term terminal growth rate of 2% for years outside of the three-year business plan and the pre-tax discount rate used of 10% (2023: 10%). The result of the impairment testing is that the recoverable amount was significantly higher than the carrying amount and there is no impairment. This result is not sensitive to any reasonable possible changes in the key assumptions used. ", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-307": { "value": "
14 Investments
Company
Nature of business
Country of
Registration
Holding
Class of
Trading
incorporation number shares status
Rightmove Group Limited
Online property
England and
03997679
100%
Ordinary
Trading
advertising Wales
Rightmove Financial Online rental services England and
11211259
100%
Ordinary
Trading
Services Limited* Wales
Rightmove Landlord and Rental referencing and England and
07064255
100%
Ordinary
Trading
Tenant Services Limited* insurance services Wales
Homeviews Platform Residential review England and
10290376
100%
Ordinary
Trading
Limited* services Wales
All the above subsidiaries are included in the Group consolidated financial statements. The registered
office for all subsidiaries of the Group is 2 Caldecotte Lake Business Park, Caldecotte Lake Drive,
Caldecotte, Milton Keynes, MK7 8LE.
Rightmove Group Limited is a direct investment of Rightmove plc, whilst the remaining companies are
indirect as they consolidate into Rightmove Group Limited.
Audit exemption
The subsidiaries marked above are exempt from the requirements of the Companies Act 2006 relating
to the audit of individual accounts by virtue of Section 479A of that Act.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-342": { "value": "14 Investments
Company
Nature of business
Country of
Registration
Holding
Class of
Trading
incorporation number shares status
Rightmove Group Limited
Online property
England and
03997679
100%
Ordinary
Trading
advertising Wales
Rightmove Financial Online rental services England and
11211259
100%
Ordinary
Trading
Services Limited* Wales
Rightmove Landlord and Rental referencing and England and
07064255
100%
Ordinary
Trading
Tenant Services Limited* insurance services Wales
Homeviews Platform Residential review England and
10290376
100%
Ordinary
Trading
Limited* services Wales
All the above subsidiaries are included in the Group consolidated financial statements. The registered office for all subsidiaries of the Group is 2 Caldecotte Lake Business Park, Caldecotte Lake Drive, Caldecotte, Milton Keynes, MK7 8LE. Rightmove Group Limited is a direct investment of Rightmove plc, whilst the remaining companies are indirect as they consolidate into Rightmove Group Limited. Audit exemption The subsidiaries marked above are exempt from the requirements of the Companies Act 2006 relating to the audit of individual accounts by virtue of Section 479A of that Act. ", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-361": { "value": "15 Deferred tax asset and deferred tax liability Net deferred tax position Deferred tax assets and liabilities are offset when they relate to income taxes levied by the same tax authority and the Group intends to settle its current tax assets and liabilities on a net basis.
2024
2023
\u00a3000 \u00a3000
Deferred tax asset
4,659
3,145
Deferred tax liability
(3,210)
(762)
At 31 December
1,449
2,383
The deferred tax asset and deferred tax liability are attributable to the following:
Share-based Property, plant
incentives and equipment Provisions Total
Deferred tax asset \u00a3000 \u00a3000 \u00a3000 \u00a3000
At 1 January 2024
2,773
166
206
3,145
Adjustment in respect of prior year
\u2013
(196)
88
(108)
Recognised in income
906
302
9
1,217
Recognised directly in equity
405
\u2013
\u2013
405
At 31 December 2024
4,084
272
303
4,659
At 1 January 2023
1,982
235
137
2,354
Adjustment in respect of prior year
\u2013
313
64
377
Recognised in income
688
(382)
5
311
Recognised directly in equity
103
\u2013
\u2013
103
At 31 December 2023
2,773
166
206
3,145
Intangibles Intangibles
Deferred tax liability 2024 2023
\u00a3000 \u00a3000
At 1 January
(762)
(894)
Prior year adjustment
(2)
(52)
Arising on business combination
(651)
\u2013
Recognised in income
(2,013)
\u2013
Recognised in income \u2013 amortisation
218
184
At 31 December
(3,210)
(762)
The decrease in the net deferred tax assets at 31 December 2024 reflects the increased deferred tax liability \u2013 principally arising from the impact of higher software additions and also intangible assets generated upon business combinations \u2013 which more than offset the increase in the deferred tax asset in relation to share-based incentives, arising from the impact of the increased share price and increased number of unvested awards on the share-based payments. The deferred tax as at 31 December 2024 has been calculated at 25% (2023: 25%) which represents the average rate at which the assets and liabilities are expected to reverse in the future, based on substantively enacted UK tax rates. ", "dimensions": { "concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-343": { "value": "15 Deferred tax asset and deferred tax liability Net deferred tax position Deferred tax assets and liabilities are offset when they relate to income taxes levied by the same tax authority and the Group intends to settle its current tax assets and liabilities on a net basis.
2024
2023
\u00a3000 \u00a3000
Deferred tax asset
4,659
3,145
Deferred tax liability
(3,210)
(762)
At 31 December
1,449
2,383
The deferred tax asset and deferred tax liability are attributable to the following:
Share-based Property, plant
incentives and equipment Provisions Total
Deferred tax asset \u00a3000 \u00a3000 \u00a3000 \u00a3000
At 1 January 2024
2,773
166
206
3,145
Adjustment in respect of prior year
\u2013
(196)
88
(108)
Recognised in income
906
302
9
1,217
Recognised directly in equity
405
\u2013
\u2013
405
At 31 December 2024
4,084
272
303
4,659
At 1 January 2023
1,982
235
137
2,354
Adjustment in respect of prior year
\u2013
313
64
377
Recognised in income
688
(382)
5
311
Recognised directly in equity
103
\u2013
\u2013
103
At 31 December 2023
2,773
166
206
3,145
Intangibles Intangibles
Deferred tax liability 2024 2023
\u00a3000 \u00a3000
At 1 January
(762)
(894)
Prior year adjustment
(2)
(52)
Arising on business combination
(651)
\u2013
Recognised in income
(2,013)
\u2013
Recognised in income \u2013 amortisation
218
184
At 31 December
(3,210)
(762)
The decrease in the net deferred tax assets at 31 December 2024 reflects the increased deferred tax liability \u2013 principally arising from the impact of higher software additions and also intangible assets generated upon business combinations \u2013 which more than offset the increase in the deferred tax asset in relation to share-based incentives, arising from the impact of the increased share price and increased number of unvested awards on the share-based payments. The deferred tax as at 31 December 2024 has been calculated at 25% (2023: 25%) which represents the average rate at which the assets and liabilities are expected to reverse in the future, based on substantively enacted UK tax rates. ", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-308": { "value": "
16 Trade and other receivables
2024 2023
Note \u00a3000 \u00a3000
Trade receivables
23,331
25,740
Less provision for impairment of trade receivables
24
(1,514)
(1,249)
Net trade receivables
21,817
24,491
Prepayments
6,251
6,259
Interest receivable
361
405
Other debtors
572
319
29,001
31,474
Exposure to credit and currency risks and expected credit losses relating to trade and other receivables
are disclosed in Note 24.
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-344": { "value": "
2024 2023
Note \u00a3000 \u00a3000
Trade receivables
23,331
25,740
Less provision for impairment of trade receivables
24
(1,514)
(1,249)
Net trade receivables
21,817
24,491
Prepayments
6,251
6,259
Interest receivable
361
405
Other debtors
572
319
29,001
31,474
Exposure to credit and currency risks and expected credit losses relating to trade and other receivables are disclosed in Note 24. ", "dimensions": { "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-309": { "value": "
17 Cash and deposits
2024 2023
\u00a3000 \u00a3000
Cash and cash equivalents
35,761
33,641
Money market deposits
5,482
5,224
41,243
38,865
Cash balances with an original maturity of less than three months were held in current accounts during
the year and attracted interest at a weighted average rate of 3.9% (2023: 3.4%). The cash and cash
equivalents balance included: \u00a3100,000 (2023: \u00a3100,000) which is restricted to use in accordance with the
deeds of the EBT; \u00a35,428,104 (2023: \u00a35,183,573) which is held in a 30 day deposit account; and \u00a3417,000
which is ringfenced for the deferred consideration payable in February 2026 in relation to the acquisition
of HomeViews Platform Limited (Note 25).
All other cash and cash equivalents are available on demand.
Money market deposits with an original maturity of more than three months and less than a year attracted
interest at a weighted average rate of 4.8% (2023: 3.4%).
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-310": { "value": "
18 Trade and other payables
2024 2023
\u00a3000 \u00a3000
Trade payables
1,326
2,057
Trade accruals
9,270
7,662
Other creditors
3,033
1,510
Other taxation and social security
13,407
13,508
27,036
24,737
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-345": { "value": "
2024 2023
\u00a3000 \u00a3000
Trade payables
1,326
2,057
Trade accruals
9,270
7,662
Other creditors
3,033
1,510
Other taxation and social security
13,407
13,508
27,036
24,737
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-311": { "value": "
19 Leases
The Group leases assets, including land and buildings and motor vehicles, that are held within property,
plant and equipment (Note 12). Information about leases for which the Group is a lessee is presented
below.
2024
2023
Analysis of property, plant and equipment between owned and leased assets \u00a3000 \u00a3000
Net book value of property, plant and equipment owned
2,606
2,848
Net book value of leased right of use assets
5,779
6,537
8,385
9,385
Property Vehicles Total
Net book value of right of use assets \u00a3000 \u00a3000 \u00a3000
At 1 January 2024
5,997
540
6,537
Additions
\u2013
1,544
1,544
Depreciation charge (1,779)
(523)
(2,302)
At 31 December 2024
4,218
1,561
5,779
At 1 January 2023
7,771
682
8,453
Additions
\u2013
362
362
Depreciation charge
(1,774)
(504) (2,278)
At 31 December 2023
5,997
540
6,537
2024 2023
Lease liabilities included in the statement of financial position \u00a3000 \u00a3000
Current
2,497
2,291
Non-current
3,665
5,112
6,162
7,403
2024 2023
Amounts recognised in income statement \u00a3000 \u00a3000
Interest on lease liabilities
138
192
Expenses relating to short-term leases
241
255
Expenses relating to low-value asset leases
(excl. short-term leases of low-value assets)
17
24
396
471
2024
2023
Amount recognised in the statement of cash flows \u00a3000 \u00a3000
Total cash outflow for all leases
3,175
2,996
Reconciliation of movement of lease liabilities to cash flows
2024 2023
\u00a3000 \u00a3000
At 1 January
7,403
9,569
Payment of lease liabilities \u2013 capital
(2,781
)
(2,530)
Payment of lease liabilities \u2013 interest
(141)
(187)
Total changes arising from cash flows
(2,922
)
(2,717)
New leases
1,544
362
Interest
138
192
Other movements
(1)
(3)
Total liability relating to other changes
1,681
551
Balance as at 31 December
6,162
7,403
", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-312": { "value": "
20 Provisions
The dilapidations provision is in respect of any of the Group\u2019s leased properties where the Group has
obligations to make good dilapidations. The non-current liabilities are estimated to be payable over
periods from one to five years.
2024
\u00a3000
At 1 January
841
Utilised
\u2013
Released \u2013
Unwinding of discount 12
At 31 December 853
Current
\u2013
Non-current
853
", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-346": { "value": "20 Provisions The dilapidations provision is in respect of any of the Group\u2019s leased properties where the Group has obligations to make good dilapidations. The non-current liabilities are estimated to be payable over periods from one to five years.
2024
\u00a3000
At 1 January
841
Utilised
\u2013
Released \u2013
Unwinding of discount 12
At 31 December 853
Current
\u2013
Non-current
853
27 Contingent liabilities The Group had no contingent liabilities in either year. ", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-313": { "value": "
21 Share capital
2024
2023
Amount Number of Amount Number of
\u00a3000 shares \u00a3000 Shares
In issue ordinary shares
At 1 January
814
813,449,619
838
837,401,085
Purchase and cancellation of shares (19) (18,772,755) (24) (23,951,466)
At 31 December
795
794,676,864
814
813,449,619
All issued shares are fully paid. The nominal value of a share is 0.1p. The holders of ordinary shares are
entitled to receive dividends as declared from time to time and are entitled to one vote per ordinary share
at general meetings of the Company. Included within shares in issue at 31 December 2024 are 1,833,148
(2023: 1,029,919) shares held by the EBT, 1,320,429 (2023: 1,167,227) shares held by the SIP and
11,168,495 (2023: 11,709,197) shares held in treasury.
In June 2007, Rightmove plc commenced a share buyback programme to purchase its own ordinary
shares. The total number of shares bought back in 2024 was 18,772,755 (2023: 23,951,466) shares
representing 2.4% (2023: 2.9%) of the ordinary shares in issue (excluding shares held in treasury). All the
shares bought back in both years were cancelled. The shares were acquired on the open market at a total
consideration (excluding costs) of \u00a3107,441,000 (2023: \u00a3130,000,000). The maximum and minimum
prices paid were \u00a36.84 (2023: \u00a35.97) and \u00a35.00 (2023: \u00a34.73) per share respectively. The average price paid
was \u00a35.72 (2023: \u00a35.43). Costs incurred on purchase of own shares in relation to stamp duty charges and
broker expenses for share buybacks were \u00a3753,000 (2023: \u00a3910,000). Costs incurred on purchase of
own shares in relation to stamp duty charges and broker expenses for the SIP award were \u00a314,000
(2023: \u00a312,000) and for the RSP award were \u00a337,000 (2023: \u00a3nil).
22 Reconciliation of movement in capital and reserves
EBT shares
SIP shares
Treasury
reserve reserve shares Total
Own shares held \u2013 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000
Own shares held as at 1 January 2023
(3,157)
(4,952) (5,789) (13,898)
Shares purchased for share incentive plans
(725)
(1,273)
\u2013
(1,998)
Shares transferred to SIP
725
(725)
\u2013
\u2013
Share-based incentives exercised in the year
1,297
557
230
2,084
SIP releases in the year
\u2013
72
\u2013
72
Own shares held as at 31 December 2023
(1,860)
(6,321) (5,559) (13,740)
Own shares held as at 1 January 2024
(1,860)
(6,321)
(5,55
9)
(13,740)
Shares purchased for share incentive plans
(5,910)
(1,415)
\u2013
(7,325)
Shares transferred to SIP
594
(594)
\u2013
\u2013
Share-based incentives exercised in the year
66
713
260
1,039
SIP releases in the year
\u2013
64
\u2013
64
Own shares held as at 31 December 2024 (7,110) (7,553)
(5,299)
(19,962)
EBT shares SIP shares Treasury
Own shares held \u2013 number of shares reserve reserve
shares
Total
Own shares held as at 1 January 2023
1,375,963
930,592
12,185,222
14,491,777
Shares purchased for share incentive plans
127,240
226,335
\u2013
353,575
Shares transferred to SIP
(127,240)
127,240
\u2013
\u2013
Share-based incentives exercised in the year
(346,044)
(104,740) (476,025) (926,809)
SIP releases in the year
\u2013
(12,200)
\u2013
(12,200)
Own shares held as at 31 December 2023
1,029,919
1,167,227
11,709,197
13,906,343
Own shares held as at 1 January 2024
1,029,919
1,167,227
11,709,197
13,906,343
Shares purchased for share incentive plans
1,028,015
209,088
\u2013
1,237,103
Shares transferred to SIP
(88,502)
88,502
\u2013
\u2013
Share-based incentives exercised in the year (136,284) (132,413)
(540,702
)
(809,399)
SIP releases in the year
\u2013
(11,975)
\u2013
(11,975)
Own shares held as at 31 December 2024
1,833,148
1,320,429
11,168,495
14,322,072
(a) EBT shares reserve
This reserve represents the cost of own shares acquired by the EBT less any exercises of
share-based incentives.
At 31 December 2024, the EBT held 1,833,148 (2023: 1,029,919) of the ordinary shares in issue,
representing 0.2% (2023: 0.1%) of the ordinary shares in issue (excluding shares held in treasury). The
market value of the shares held in the EBT at 31 December 2024 was \u00a311,765,000 (2023: \u00a35,928,000).
(b) SIP shares reserve
In November 2014, the Rightmove Share Incentive Plan Trust (SIP) was established. This reserve
represents the cost of acquiring shares less any exercises or releases of SIP awards. Employees of
Rightmove Group Limited and Rightmove plc were offered 445 free shares with effect from 19 December
2024 (2023: 600), subject to a three-year service period. During the year 132,413 shares were exercised
(2023: 104,740) and 11,975 shares (2023: 12,200) were released by the SIP in relation to good leavers and
retirees. 88,502 shares were transferred to the SIP reserve from the EBT (2023: 127,240).
At 31 December 2024, the SIP held 1,320,429 (2023: 1,167,227) of the ordinary shares in issue,
representing 0.2% (2023: 0.1%) of the ordinary shares in issue (excluding shares held in treasury).
The market value of the shares held in the SIP at 31 December 2024 was \u00a38,475,000 (2023: \u00a36,718,000).
(c) Treasury shares
This represents the cost of acquiring shares held in treasury less any exercises of share-based incentives.
These shares were bought in 2008 at an average price of 47.60 pence and may be used to satisfy certain
share-based incentive awards. At 31 December 2024, the treasury held 11,168,495 of the ordinary
shares in issue. The market value of the shares held in treasury at 31 December 2024 was \u00a371,679,000
(2023: \u00a367,398,000).
Other reserves
Other reserves of \u00a3499,000 (2023: \u00a3480,000) represents the capital redemption reserve in respect of
own shares bought back and cancelled. The movement of \u00a319,000 (2023: \u00a324,000) is the nominal value
of ordinary shares bought back and cancelled during the year.
Details of share buybacks and cancellation of shares are included in Note 21.
Retained earnings
The loss on the exercise of share-based incentives of \u00a3368,000 (2023: \u00a31,562,000) is the difference
between the weighted average value that the own shares, held individually by the EBT, SIP and treasury,
were originally acquired at and the exercise price at which share-based incentives were exercised or
released during the year.
Reverse acquisition reserve
This reserve of \u00a3138,000 (2023: \u00a3138,000) resulted from the acquisition of Rightmove Group Limited by
Rightmove plc and represents the difference between the value of the shares acquired at 28 January 2008
and the nominal value of the shares issued.
", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-347": { "value": "21 Share capital
2024
2023
Amount Number of Amount Number of
\u00a3000 shares \u00a3000 Shares
In issue ordinary shares
At 1 January
814
813,449,619
838
837,401,085
Purchase and cancellation of shares (19) (18,772,755) (24) (23,951,466)
At 31 December
795
794,676,864
814
813,449,619
All issued shares are fully paid. The nominal value of a share is 0.1p. The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per ordinary share at general meetings of the Company. Included within shares in issue at 31 December 2024 are 1,833,148 (2023: 1,029,919) shares held by the EBT, 1,320,429 (2023: 1,167,227) shares held by the SIP and 11,168,495 (2023: 11,709,197) shares held in treasury. In June 2007, Rightmove plc commenced a share buyback programme to purchase its own ordinary shares. The total number of shares bought back in 2024 was 18,772,755 (2023: 23,951,466) shares representing 2.4% (2023: 2.9%) of the ordinary shares in issue (excluding shares held in treasury). All the shares bought back in both years were cancelled. The shares were acquired on the open market at a total consideration (excluding costs) of \u00a3107,441,000 (2023: \u00a3130,000,000). The maximum and minimum prices paid were \u00a36.84 (2023: \u00a35.97) and \u00a35.00 (2023: \u00a34.73) per share respectively. The average price paid was \u00a35.72 (2023: \u00a35.43). Costs incurred on purchase of own shares in relation to stamp duty charges and broker expenses for share buybacks were \u00a3753,000 (2023: \u00a3910,000). Costs incurred on purchase of own shares in relation to stamp duty charges and broker expenses for the SIP award were \u00a314,000 (2023: \u00a312,000) and for the RSP award were \u00a337,000 (2023: \u00a3nil). ", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-348": { "value": "22 Reconciliation of movement in capital and reserves
EBT shares
SIP shares
Treasury
reserve reserve shares Total
Own shares held \u2013 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000
Own shares held as at 1 January 2023
(3,157)
(4,952) (5,789) (13,898)
Shares purchased for share incentive plans
(725)
(1,273)
\u2013
(1,998)
Shares transferred to SIP
725
(725)
\u2013
\u2013
Share-based incentives exercised in the year
1,297
557
230
2,084
SIP releases in the year
\u2013
72
\u2013
72
Own shares held as at 31 December 2023
(1,860)
(6,321) (5,559) (13,740)
Own shares held as at 1 January 2024
(1,860)
(6,321)
(5,55
9)
(13,740)
Shares purchased for share incentive plans
(5,910)
(1,415)
\u2013
(7,325)
Shares transferred to SIP
594
(594)
\u2013
\u2013
Share-based incentives exercised in the year
66
713
260
1,039
SIP releases in the year
\u2013
64
\u2013
64
Own shares held as at 31 December 2024 (7,110) (7,553)
(5,299)
(19,962)
EBT shares SIP shares Treasury
Own shares held \u2013 number of shares reserve reserve
shares
Total
Own shares held as at 1 January 2023
1,375,963
930,592
12,185,222
14,491,777
Shares purchased for share incentive plans
127,240
226,335
\u2013
353,575
Shares transferred to SIP
(127,240)
127,240
\u2013
\u2013
Share-based incentives exercised in the year
(346,044)
(104,740) (476,025) (926,809)
SIP releases in the year
\u2013
(12,200)
\u2013
(12,200)
Own shares held as at 31 December 2023
1,029,919
1,167,227
11,709,197
13,906,343
Own shares held as at 1 January 2024
1,029,919
1,167,227
11,709,197
13,906,343
Shares purchased for share incentive plans
1,028,015
209,088
\u2013
1,237,103
Shares transferred to SIP
(88,502)
88,502
\u2013
\u2013
Share-based incentives exercised in the year (136,284) (132,413)
(540,702
)
(809,399)
SIP releases in the year
\u2013
(11,975)
\u2013
(11,975)
Own shares held as at 31 December 2024
1,833,148
1,320,429
11,168,495
14,322,072
(a) EBT shares reserve This reserve represents the cost of own shares acquired by the EBT less any exercises of share-based incentives. At 31 December 2024, the EBT held 1,833,148 (2023: 1,029,919) of the ordinary shares in issue, representing 0.2% (2023: 0.1%) of the ordinary shares in issue (excluding shares held in treasury). The market value of the shares held in the EBT at 31 December 2024 was \u00a311,765,000 (2023: \u00a35,928,000). (b) SIP shares reserve In November 2014, the Rightmove Share Incentive Plan Trust (SIP) was established. This reserve represents the cost of acquiring shares less any exercises or releases of SIP awards. Employees of Rightmove Group Limited and Rightmove plc were offered 445 free shares with effect from 19 December 2024 (2023: 600), subject to a three-year service period. During the year 132,413 shares were exercised (2023: 104,740) and 11,975 shares (2023: 12,200) were released by the SIP in relation to good leavers and retirees. 88,502 shares were transferred to the SIP reserve from the EBT (2023: 127,240). At 31 December 2024, the SIP held 1,320,429 (2023: 1,167,227) of the ordinary shares in issue, representing 0.2% (2023: 0.1%) of the ordinary shares in issue (excluding shares held in treasury). The market value of the shares held in the SIP at 31 December 2024 was \u00a38,475,000 (2023: \u00a36,718,000). (c) Treasury shares This represents the cost of acquiring shares held in treasury less any exercises of share-based incentives. These shares were bought in 2008 at an average price of 47.60 pence and may be used to satisfy certain share-based incentive awards. At 31 December 2024, the treasury held 11,168,495 of the ordinary shares in issue. The market value of the shares held in treasury at 31 December 2024 was \u00a371,679,000 (2023: \u00a367,398,000). Other reserves Other reserves of \u00a3499,000 (2023: \u00a3480,000) represents the capital redemption reserve in respect of own shares bought back and cancelled. The movement of \u00a319,000 (2023: \u00a324,000) is the nominal value of ordinary shares bought back and cancelled during the year. Details of share buybacks and cancellation of shares are included in Note 21. Retained earnings The loss on the exercise of share-based incentives of \u00a3368,000 (2023: \u00a31,562,000) is the difference between the weighted average value that the own shares, held individually by the EBT, SIP and treasury, were originally acquired at and the exercise price at which share-based incentives were exercised or released during the year. Reverse acquisition reserve This reserve of \u00a3138,000 (2023: \u00a3138,000) resulted from the acquisition of Rightmove Group Limited by Rightmove plc and represents the difference between the value of the shares acquired at 28 January 2008 and the nominal value of the shares issued. ", "dimensions": { "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-362": { "value": "(c) Treasury shares This represents the cost of acquiring shares held in treasury less any exercises of share-based incentives. These shares were bought in 2008 at an average price of 47.60 pence and may be used to satisfy certain share-based incentive awards. At 31 December 2024, the treasury held 11,168,495 of the ordinary shares in issue. The market value of the shares held in treasury at 31 December 2024 was \u00a371,679,000 (2023: \u00a367,398,000). ", "dimensions": { "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-314": { "value": "
23 Share-based payments
The Group operates a number of share-based incentive schemes for Executive Directors and employees.
All share-based incentives are subject to a service condition. Such conditions are not taken into account
in the fair value of the service received. The fair value of services received in return for share-based
incentives is measured by reference to the fair value of share-based incentives granted.
The Group recognised a total share-based payments charge for the year of \u00a37,439,000 (2023: \u00a35,886,000)
as set out below. The NI charge for the year, relating to all awards, was \u00a3917,000 (2023: \u00a3651,000). The
share price at 31 December 2024 was \u00a36.42 (2023: \u00a35.76).
The total charge in relation to share-based payments was \u00a38,356,000 (2023: \u00a36,537,000):
2024
2023
\u00a3000 \u00a3000
Sharesave Plan
495
382
Performance Share Plan (PSP)
4
684
Deferred Share Bonus Plan (DSP)
2,640
3,197
Share Incentive Plan (SIP)
1,436
1,068
Restricted Share Plan (RSP)
2,864
555
Total share-based payments charge
7,439
5,886
NI on applicable share-based incentives at 13.8%
917
651
Total charge in relation to share-based payments
8,356
6,537
Sharesave Plan
The Group operates an HMRC Approved Sharesave Plan under which employees of Rightmove plc and
Rightmove Group Limited are granted an option to purchase ordinary shares in Rightmove plc, at up to
20% less than the market price at invitation, in three years\u2019 time, dependent on their entering into a
contract to make monthly contributions into a savings account over the relevant period. These savings
are used to fund the option exercise. No performance criteria are applied to the exercise of Sharesave
options. The assumptions used in the measurement of the fair value at grant date of the Sharesave Plan
are as follows:
Share price at Exercise Dividend Fair value per
grant date price Option life Volatility Risk free rate yield option
Grant date (pence) (pence) (years) (%) (%) (%) (pence)
1 October 2021
682.6
574.0
3.0
26.7
0.8
1.1
184.0
30 September 2022
482.2
482.0
3.0
29.4
5.2
1.8
130.0
29 September 2023
562.2
448.0
3.0
30.2
4.7
1.6
203.0
30 September 2024
617.4
442.0
3.0
31.1
3.75
1.8
232.0
The requirement that an employee must save in order to purchase shares under the Sharesave Plan is a
non-vesting condition. This feature has been incorporated into the fair value at grant date by applying a
discount to the valuation obtained from the Black Scholes pricing model. The discount has been
determined by estimating the probability that the employee will stop saving based on expected future
trends in the share price and past employee behaviour.
2024
2023
Weighted
Weighted
average average
exercise price exercise price
Group
Number
(pence)
Number
(pence)
Outstanding at 1 January
844,719
483.8
779,826
498.9
Granted
379,287
442.0
373,861
448.2
Lapsed or cancelled (114,499)
491.6
(112,451)
516.6
Forfeited (47,177)
465.2
(57,649)
497.5
Exercised (136,284)
540.1
(138,868)
440.2
Outstanding at 31 December
926,046
458.4
844,719
483.8
Exercisable at 31 December
38,949
5.63
129,754
510.5
The weighted average market value per ordinary share for Sharesave options exercised in 2024 was
572.2 pence (2023: 559.3 pence). The Sharesave options outstanding at 31 December 2024 have an
exercise price in the range of 430.0 pence to 574.0 pence (2023: 430.0 pence to 574.0 pence) and a
weighted average contractual life of years 2.0 years (2023: 2.2 years).
Performance Share Plan (PSP) The PSP permits awards of nil cost options or contingent shares which will only vest in the event of prior satisfaction of a performance condition. 335,970 PSP awards were made on 12 March 2024 (the grant date) subject to earnings per share (EPS), total shareholder return (TSR) and revenue performance. Performance will be measured over three financial years (1 January 2024 \u2013 31 December 2026). The vesting on 12 March 2027 (vesting date) of 50% of the 2024 PSP award will be dependent on a relative TSR performance condition measured over the three-year performance period, with 25% dependent on the satisfaction of an EPS growth target measured over the three-year performance period and the remaining 25% dependent on revenue growth. The PSP awards have been valued using the Monte Carlo model for the TSR element and the Black Scholes model for the EPS and revenue elements. The resulting share-based payments charge is being spread evenly over the three-year period between grant date and vesting date. PSP award holders are entitled to receive dividends accruing between the grant date and the vesting date and this value will be delivered in shares. The assumptions used in the measurement of the fair value at grant date of the PSP awards are as follows:
Share price at Exercise Risk Dividend Fair value
grant date price Expected Option free rate yield per option
Grant date (pence) (pence) volatility (%) life (years) (%) (%) (pence)
2 March 2022
(TSR dependent)
684.6
0.0
30.3
3.0
1.7
0.0
247.4
2 March 2022
(EPS dependent)
684.6
0.0
0.0
3.0
0.0
0.0
582.2
10 March 2023
(TSR dependent)
540.8
0.0
32.9
3.0
4.3
0.0
227.8
10 March 2023
(EPS dependent)
540.8
0.0
0.0
3.0
0.0
0.0
460.0
12 March 2024
(TSR dependent)
(1)
577.0
0.0
28.3
3.0
4.2
0.0
273.0
12 March 2024
(EPS dependent)
(1)
577.0
0.0
0.0
3.0
0.0
0.0
490.0
12 March 2024
(Revenue dependent)
(1)
577.0
0.0
0.0
3.0
0.0
0.0
490.0
1. For details of TSR, EPS and revenue performance conditions refer to the Directors\u2019 Remuneration Report. Expected volatility, which only impacts the fair value of the TSR element of the award, is estimated by considering historic average share price volatility at the grant date. The risk-free rate is only used as an input to calculate the fair value of the TSR element of the award. The PSP awards accrue dividends so there is no dividend yield used as an input to calculate the fair value. A discount rate of 15.0% (2023: 15.0%) was applied to the fair value at grant date to reflect the two-year holding period that applies post the vesting period and the lack of liquidity during that period.
2024 2023
Number Number
Outstanding at 1 January
750,175
683,330
Granted
335,970
325,798
Dividends awarded
5,445
1,110
Forfeited
(506,489)
(171,458)
Exercised
(62,602)
(88,605)
Outstanding at 31 December
522,499
750,175
Exercisable at 31 December
\u2013
21,487
The weighted average market value per ordinary share for options exercised in 2024 was 682.5 pence
(2023: 577.8 pence). The weighted average exercise price was nil in both years. The PSP awards
outstanding at 31 December 2024 have a weighted average contractual life of 1.5 years (2023: 1.3 years).
Deferred Share Bonus Plan (DSP)
In March 2009 a DSP was established which allows Executive Directors and other selected senior
management the opportunity to earn a bonus determined as a percentage of base salary settled in nil cost
deferred shares. The award of shares under the plan is contingent on the satisfaction of pre-set internal
targets relating to underlying drivers of revenue growth (the performance period). The right to the shares
is deferred for two years from the date of the award (the vesting period) and potentially forfeitable during
that period should the employee leave employment. The deferred share awards were valued using the
Black Scholes model and the resulting share-based payments charge is being spread evenly over the
combined performance period and vesting period of the shares, being three years.
The inputs used in the measurement of the fair value of the deferred share awards \u2013 which are initially
calculated at the date on which the potential DSP bonus is communicated to Directors and senior
management (the grant date) and are then updated at the date of the actual award \u2013 are as follows:
Share price at Exercise Expected Dividend Fair value
award date price term yield per option
Grant date
Award date
(pence) (pence) (years) (%) (pence)
3 March 2021
2 March 2022
684.6
0.0
3.0
1.2
668.0
2 March 2022
10 March 2023
540.8
0.0
3.0
1.5
524.0
12 March 2023
12 March 2024
(1)
577.0
0.0
3.0
1.6
559.0
12 March 2024
(2)
12 March 2025
(3)
577.0
0.0
3.0
1.6
549.0
1. Following the achievement of 79% of the 2023 internal performance targets, 602,218 nil cost shares were awarded to
Executives and senior management on 12 March 2024 (the award date) with the right to exercise the shares deferred until
March 2026.
2. The share price and fair value are disclosed at grant date until the point that the award is made on 12 March 2025, at which
point the valuation will be updated.
3. Based on the 2024 internal performance targets, the Remuneration Committee determined that 85% of the maximum award
in respect of the year will be made in March 2025. The number of shares to be awarded will be determined based on the share
price at the award date in March 2025.
2024 2023
Number Number
Outstanding at 1 January
1,029,016
870,666
Awarded
605,476
545,770
Forfeited
(126,982)
\u2013
Exercised
(478,100)
(387,420)
Outstanding at 31 December
1,029,410
1,029,016
Exercisable at 31 December
\u2013
\u2013
The weighted average market value per ordinary share for deferred shares exercised in 2024 was 587.9
pence (2023: 563.0 pence). The weighted average exercise price was nil in both years. The DSP awards
outstanding at 31 December 2024 have a weighted average contractual life of 1.4 years (2023: 1.4 years).
Share Incentive Plan
In 2014, the Group established the Rightmove Share Incentive Plan Trust (SIP). Employees in the Group
were offered 445 shares on 21 December 2024 (2023: 600 shares) subject to a three-year service period
(the vesting period). The SIP awards have been valued using the Black Scholes model and the resulting
share-based payments charge spread evenly over the vesting period of three years. The SIP shareholders
are entitled to dividends paid in cash over the vesting period. No performance criteria are applied to the
exercise of SIP options. The assumptions used in the measurement of the fair value at grant date of the
SIP awards are as follows:
Share
price at grant
date Exercise price Option Dividend yield Fair value per
Grant date (pence) (pence) life (years) (%) option (pence)
20 December 2020
651.6
0.0
3.0
0.0
651.6
20 December 2021
769.2
0.0
3.0
0.0
769.2
21 December 2022
526.8
0.0
3.0
0.0
526.8
20 December 2023
563.8
0.0
3.0
0.0
563.8
19 December 2024
654.2
0.0
3.0
0.0
654.2
The SIP awards accrue dividends, so there is no dividend yield input into the fair valuation calculation.
2024
2023
Number Number
Outstanding at 1 January
1,159,700
913,440
Granted
374,690
438,000
Forfeited
(82,300)
(75,750)
Exercised
(148,165)
(115,990)
Outstanding at 31 December
1,303,925
1,159,700
Exercisable at 31 December
287,935
276,900
The weighted average market value per ordinary share for SIP awards released and exercised in 2024
was 614.5 pence (2023: 562.67 pence). The weighted average exercise price in both years was nil.
The SIP options outstanding at 31 December 2024 have a weighted average contractual life of
2.1 years (2023: 2.3 years).
Restricted Share Plan (RSP)
The RSP awards nil cost deferred shares to selected senior management, subject only to service
conditions which typically vary between one to four years\u2019 service. Participants are not entitled to receive
dividends on these awards. RSP awards have been valued using the Black Scholes model and the resulting
share-based payments charge is being spread evenly over the vesting period of the shares.
The assumptions used in the measurement of the fair value at grant date of the RSP awards are as follows:
Share price at Dividend Fair value per
grant date Exercise price Option yield option
Grant date (pence) (pence) life (years) (%) (pence)
20 September 2023
586.0
0.0
3.0
1.4
562.0
20 September 2023
586.0
0.0
4.0
1.5
553.0
20 December 2023
563.8
0.0
1.5
1.7
549.0
20 December 2023
563.8
0.0
3.0
1.6
536.0
1 March 2024
566.2
0.0
1.0
1.6
557.0
1 March 2024
566.2
0.0
2.0
1.6
548.0
1 March 2024
566.2
0.0
3.0
1.7
539.0
6 June 2024
565.0
0.0
1.5
1.5
552.0
26 July 2024
560.0
0.0
3.0
2.0
530.0
25 October 2024
618.2
0.0
3.0
1.7
588.0
2024 2023
Number Number
Outstanding at 1 January
874,442
544,101
Awarded
397,849
541,664
Forfeited
\u2013
\u2013
Exercised
\u2013
(211,323)
Outstanding at 31 December
1,272,291
874,442
Exercisable at 31 December
\u2013
\u2013
No RSP awards were exercised in 2024. The weighted average market value per ordinary share for RSP
awards exercised in 2023 was 530.9 pence. The RSP options outstanding at 31 December 2024 have a
weighted average contractual life of 1.4 years (2023: 2.5 years).
", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-370": { "value": "24 Financial instruments Credit risk The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk at the reporting date was:
2024 2023
Note \u00a3000 \u00a3000
Net trade receivables
16
21,817
24,491
Accrued interest receivable
16
361
405
Contract assets
4
1,270
759
Other debtors
16
572
319
Cash and cash equivalents
17
35,761
33,641
Money market deposits
17
5,482
5,224
65,263
64,839
The trade receivables balance is spread across a significant number of different customers with no single debtor representing more than 3% of the total balance due (2023: 2%). The maximum exposure to credit risk for trade receivables at the reporting date by geographic region was:
2024 2023
Note \u00a3000 \u00a3000
UK
4
21,796
24,480
Rest of the world
4
21
11
16
21,817
24,491
The maximum exposure to credit risk for trade receivables at the reporting date by type of customer was:
2024
2023
Note \u00a3000 \u00a3000
Property products
18,441
20,390
Other
3,376
4,101
16
21,817
24,491
The Group\u2019s most significant customer accounts for \u00a3669,000 (2023: \u00a3499,000) of net trade receivables as at 31 December 2024. Expected credit loss assessment For the Group\u2019s smaller Agency and Overseas customers, expected credit losses are measured using a provisioning matrix based on the reason the trade receivable is past due or for current debtors at risk of recovery. The provision matrix rates are based on actual credit loss experience over the past three years and adjusted, when required, to take into account current macro economic factors. For all other customers the Group applies experienced credit judgement to assess the expected credit loss, whilst considering account external ratings, financial statements and other available information. Overall, the impact on credit risk is minimal due to most customers paying in advance on a subscription basis. The following table provides information about the exposure to credit risk and expected credit losses for trade receivables, including contract assets, from individual customers as at 31 December 2024. The weighted-average loss rate in 2024 was 6.2% (2023: 4.7%) reflecting a provision for a single customer at the end of 2024 \u2013 without this provision, the average loss rate would be 4.2%.
Weighted- Gross carrying Loss
average loss amount allowance Credit-
2024 rate \u00a3000 \u00a3000 impaired
Current
1.8%
17,488
(310
)
No
Past due 1 \u2013 30 days
8.8%
4,849
(427)
No
Past due 31 \u2013 60 days
8.8%
1,009
(89)
No
Past due 61 \u2013 90 days
19.5%
369
(72)
No
More than 91 days past due
69.5%
886
(616
)
No
24,601
(1,514)
Weighted- Gross carrying
average loss amount Loss allowance
2023 rate \u00a3000 \u00a3000
Credit
-impaired
Current
1.1%
16,140
(177)
No
Past due 1 \u2013 30 days
2.2%
4,677
(101)
No
Past due 31 \u2013 60 days
6.5%
1,612
(104)
No
Past due 61 \u2013 90 days
8.4%
738
(62)
No
More than 91 days past due
24.0%
3,332
(801)
No
26,499
(1,249)
The movement in the allowance for impairment in respect of trade receivables during the year was as follows:
2024 2023
Note \u00a3000 \u00a3000
At 1 January
1,249
845
Charged during the year
1,620
1,712
Utilised during the year
(1,355
)
(1,308)
At 31 December
16
1,514
1,249
The allowance accounts in respect of trade receivables are used to record impairment losses unless the Group is satisfied that no recovery of the amount owing is possible; at that point the amounts considered irrecoverable are written off against the financial asset directly. Liquidity risk The contractual maturities of undiscounted financial liabilities, including undiscounted estimated interest payments, were:
Carrying Contractual 6 months
6-12
amount cash flows or less months
\u00a3000 \u00a3000 \u00a3000
\u00a3000
1-2 years
2-5 years
At 31 December 2024
Trade payables being non-derivative
financial liabilities
1,326
(1,326)
(1,326)
\u2013 \u2013 \u2013
Trade accruals being non-derivative
financial liabilities
9,270
(8,170)
(8,170)
\u2013 \u2013 \u2013
Lease liabilities
6,162
(6,383)
(1,337)
(1,337)
(2,703)
(1,006)
Deferred consideration
417
(417)
\u2013
\u2013
(417)
\u2013
Total
17,175
(16,296)
(10,833)
(1,337)
(3,120) (1,006)
At 31 December 2023
Trade payables being non-derivative
financial liabilities
2,057
(2,057)
(2,057)
\u2013 \u2013 \u2013
Trade accruals being non-derivative
financial liabilities
7,662
(6,978)
(6,978)
\u2013 \u2013 \u2013
Lease liabilities
7,403
(7,830)
(1,293)
(1,293)
(2,437) (2,808)
Total
17,122
(16,865)
(10,328)
(1,293)
(2,437) (2,808)
It is not expected that the cash flows included in the maturity analysis could occur earlier or at significantly different amounts and all payments excluding leases and deferred consideration are due within six months of the balance sheet date. Currency risk During 2024 all the Group's sales and more than 92.0% (2023: 97.0%) of the Group\u2019s purchases were sterling denominated and accordingly it has no significant currency risk. nterest rate risk The Group has exposure to interest rate risk on its cash and cash equivalent balances and money market deposit balances. As at 31 December 2024 the Group had total cash of \u00a335,761,000 (2023: \u00a333,641,000) and money market deposits of \u00a35,482,000 (2023: \u00a35,224,000). The variation of 100 basis points in the interest rate on cash and cash equivalents (with all other variables held constant) will increase or decrease pre-tax profit for the year by \u00a30.6m (2023: \u00a30.5m). Fair values The fair values of all financial instruments in both years are equal to the carrying values. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-363": { "value": "Expected credit loss assessment For the Group\u2019s smaller Agency and Overseas customers, expected credit losses are measured using a provisioning matrix based on the reason the trade receivable is past due or for current debtors at risk of recovery. The provision matrix rates are based on actual credit loss experience over the past three years and adjusted, when required, to take into account current macro economic factors. For all other customers the Group applies experienced credit judgement to assess the expected credit loss, whilst considering account external ratings, financial statements and other available information. Overall, the impact on credit risk is minimal due to most customers paying in advance on a subscription basis. The following table provides information about the exposure to credit risk and expected credit losses for trade receivables, including contract assets, from individual customers as at 31 December 2024. The weighted-average loss rate in 2024 was 6.2% (2023: 4.7%) reflecting a provision for a single customer at the end of 2024 \u2013 without this provision, the average loss rate would be 4.2%.
Weighted- Gross carrying Loss
average loss amount allowance Credit-
2024 rate \u00a3000 \u00a3000 impaired
Current
1.8%
17,488
(310
)
No
Past due 1 \u2013 30 days
8.8%
4,849
(427)
No
Past due 31 \u2013 60 days
8.8%
1,009
(89)
No
Past due 61 \u2013 90 days
19.5%
369
(72)
No
More than 91 days past due
69.5%
886
(616
)
No
24,601
(1,514)
Weighted- Gross carrying
average loss amount Loss allowance
2023 rate \u00a3000 \u00a3000
Credit
-impaired
Current
1.1%
16,140
(177)
No
Past due 1 \u2013 30 days
2.2%
4,677
(101)
No
Past due 31 \u2013 60 days
6.5%
1,612
(104)
No
Past due 61 \u2013 90 days
8.4%
738
(62)
No
More than 91 days past due
24.0%
3,332
(801)
No
26,499
(1,249)
The movement in the allowance for impairment in respect of trade receivables during the year was as follows:
2024 2023
Note \u00a3000 \u00a3000
At 1 January
1,249
845
Charged during the year
1,620
1,712
Utilised during the year
(1,355
)
(1,308)
At 31 December
16
1,514
1,249
The allowance accounts in respect of trade receivables are used to record impairment losses unless the Group is satisfied that no recovery of the amount owing is possible; at that point the amounts considered irrecoverable are written off against the financial asset directly. ", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-349": { "value": "
Fair values
The fair values of all financial instruments in both years are equal to the carrying values.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-315": { "value": "
25 Business combinations and other acquisitions
HomeViews Platform Limited
On 1 February 2024, the Group acquired the entire ordinary share capital of HomeViews Platform Limited,
a business providing the UK's biggest community of verified resident reviews of property developments,
with a particular focus on the build to rent sector. This augments our existing Rental Operators
proposition, provides a basis for introducing resident reviews into other business units, and will leverage
the scale benefits that the Rightmove platform and customer base bring to the HomeViews\u2019 existing
market. This acquisition has been treated in line with IFRS 3 \u2013 Business Combinations.
2024
\u00a3000
Cash consideration
8,471
Total consideration
8,471
The following table provides a reconciliation of the amounts included in the consolidated statement of
cash flows:
2024
Net cash flow on acquisition \u00a3000
Cash consideration
8,471
Net of cash and cash equivalents acquired
(519)
Net cash cost paid for subsidiary
7,952
Deferred consideration
(400)
Net cash outflow included in the statement of cash flows
7,552
The total cash consideration of \u00a38,471,000 excludes acquisition costs of \u00a3590,000, which have been
recognised as an expense in the period in the consolidated statement of comprehensive income
(\u00a3370,000 in the period and \u00a3220,000 in December 2023). Included within transaction costs on acquisition
of \u00a3590,000 are legal and due diligence fees and stamp duty. The deferred consideration will be payable
on the second anniversary of the completion date and has no performance obligations.
In the 11-month period to 31 December 2024, HomeViews contributed revenue of \u00a31.3m and a
trading loss after tax of \u00a30.2m to the Group\u2019s results. If the acquisition had occurred on 1 January 2024,
management estimates that consolidated revenue would have been \u00a31.4m and consolidated profit for
the period would have still been lowered by \u00a30.2m. In determining these amounts, management has
assumed that the fair value adjustments, determined provisionally, that arose on the date of acquisition
would have been the same if the acquisition had occurred on 1 January 2024.
The deferred consideration of \u00a3400,000 has accrued \u00a317,000 of interest in the post-acquisition period.
The following table details the final fair values of the assets and liabilities acquired at the date
of acquisition:
Carrying values
Fair value
pre-acquisition adjustments Fair values
Net assets acquired \u00a3000 \u00a3000 \u00a3000
Non-current assets
Property, plant and equipment
14
\u2013
14
Intangible assets \u2013 IT development costs
\u2013
757
757
Intangible assets \u2013 customer relationships
\u2013
1,845
1,845
Total non-current assets
14
2,602
2,616
Current assets
Trade and other receivables
150
\u2013
150
Cash and cash equivalents
519
\u2013
519
Total current assets
669
\u2013
669
Current liabilities
Trade and other payables
(328)
\u2013
(328)
Total current liabilities
(328)
\u2013
(328)
Non-current liabilities \u2013 deferred tax
\u2013
(650)
(650)
Fair value of net assets acquired
355
1,952
2,307
Goodwill
Goodwill arising from the acquisition has been recognised as follows:
\u00a3000
Total consideration
8,471
Fair value of net assets acquired
(2,307)
Goodwill
6,164
The goodwill figure recognised above includes the knowledge and experience of HomeViews which
is established within the Rental Operators markets, their skilled workforce and the reputation of
the business.
This is together with the synergy benefits expected to the Group through leveraging the scale and reach
of the Rightmove customer base, its sales and marketing teams and technological capability. For the
purposes of impairment testing, goodwill is allocated to the relevant lowest cash-generating unit which
is the Agency only unit.
The Directors have considered the fair value of assets and liabilities acquired and have concluded that
there are no other intangible assets to be recognised other than goodwill, computer software and
customer relationships.
Investment in Coadjute Limited
During the period, the Group acquired a 7.4% holding in Coadjute Limited, a business providing a
nationwide infrastructure for the property market, connecting buyers, sellers and property professionals
with data, services and each other. Other investors include Lloyds Banking Group, Nationwide and
NatWest. The potential of a platform like Coadjute to, over time, digitise and transform the house
purchase journey \u2013 reducing the time to closure and providing greater visibility of the progress of the
transaction to buyers, sellers and lenders \u2013 is immense, but this is a journey that will take time.
For that reason, the investment is strategic and longer-term in its nature and the acquisition cost of
\u00a33.0m is considered to have a fair value of \u00a3nil and is recognised in the income statement as a strategic
research-related cost.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-316": { "value": "
26 Related party disclosures
Directors\u2019 transactions
There were no transactions with Directors in either year other than those disclosed in the Directors\u2019
Remuneration Report. Information on the emoluments of the Directors who served during the year,
together with information regarding the beneficial interest of the Directors in the ordinary shares of
Rightmove plc, is included in the Directors\u2019 Remuneration Report.
During the year, the Directors in office in total had gains of \u00a3297,000 (2023: \u00a3633,000) arising on the
exercise of share-based incentive awards. The total share-based payments charge in relation to the
Directors in office was \u00a341,000 (2023: \u00a31,644,000).
Key management personnel
The actual remuneration of the Directors, who are the key management personnel of the Group, is
disclosed in the Directors\u2019 Remuneration Report, see page 100. The contractual employee benefits are
set out below in aggregate for each of the categories specified in IAS 24 Related Party Disclosures.
2024
2023
\u00a3000 \u00a3000
Short-term employee benefits
2,176
2,355
Post employment benefits
68
55
Share-based payments
41
1,644
", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-350": { "value": "26 Related party disclosures Directors\u2019 transactions There were no transactions with Directors in either year other than those disclosed in the Directors\u2019 Remuneration Report. Information on the emoluments of the Directors who served during the year, together with information regarding the beneficial interest of the Directors in the ordinary shares of Rightmove plc, is included in the Directors\u2019 Remuneration Report. During the year, the Directors in office in total had gains of \u00a3297,000 (2023: \u00a3633,000) arising on the exercise of share-based incentive awards. The total share-based payments charge in relation to the Directors in office was \u00a341,000 (2023: \u00a31,644,000). Key management personnel The actual remuneration of the Directors, who are the key management personnel of the Group, is disclosed in the Directors\u2019 Remuneration Report, see page 100. The contractual employee benefits are set out below in aggregate for each of the categories specified in IAS 24 Related Party Disclosures.
2024
2023
\u00a3000 \u00a3000
Short-term employee benefits
2,176
2,355
Post employment benefits
68
55
Share-based payments
41
1,644
", "dimensions": { "concept": "ifrs-full:DisclosureOfTransactionsBetweenRelatedPartiesExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-364": { "value": "Key management personnel The actual remuneration of the Directors, who are the key management personnel of the Group, is disclosed in the Directors\u2019 Remuneration Report, see page 100. The contractual employee benefits are set out below in aggregate for each of the categories specified in IAS 24 Related Party Disclosures.
2024
2023
\u00a3000 \u00a3000
Short-term employee benefits
2,176
2,355
Post employment benefits
68
55
Share-based payments
41
1,644
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-317": { "value": "
27 Contingent liabilities
The Group had no contingent liabilities in either year.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-365": { "value": "27 Contingent liabilities The Group had no contingent liabilities in either year. ", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-318": { "value": "
28 Subsequent events
There were no subsequent events between 31 December 2024 and the date when the financial
statements were authorised for issue.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:2138001JXGCFKBXYB828", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } } } }