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1 Accounting policies
MJ Gleeson plc (\"the Company\") is a public limited
company that is listed on the London Stock Exchange
and is incorporated and domiciled in England, United
Kingdom. The address of the registered office is 6 Europa
Court, Sheffield Business Park, Sheffield, S9 1XE.
Basis of preparation
Both the Company financial statements and the
Group financial statements have been prepared and
approved by the Directors in accordance with UK-
adopted International Accounting Standards and in
conformity with the requirements of the Companies Act
2006 as applicable to companies reporting under those
standards.
The consolidated Group and Company financial
statements have been prepared on a going concern
basis and under the historical cost convention, except as
otherwise stated below.
The material accounting policies set out below have
been applied consistently to all periods presented in the
consolidated Group and Company financial statements.
The Company has taken advantage of section 408 of
the Companies Act 2006 and consequently an income
statement and statement of comprehensive income of
the Company is not presented as part of these financial
statements.
Basis of consolidation
The consolidated financial statements incorporate
the financial statements of the Company and all of its
subsidiary undertakings (together referred to as \"the
Group\u201d).
Subsidiaries
Subsidiaries are entities controlled by the Group. The
Group controls an entity when it is exposed to, or has
rights to, variable returns from its involvement with the
entity and has the ability to affect those returns through
its power over the entity. The financial statements of
subsidiaries are included in the consolidated financial
statements from the date that control commences until
the date that control ceases.
Going concern
The Group's business activities are set out in the Strategic
Report on pages 02 to 103. The principal risks identified
are reported under Risk Management on pages 38 to 43.
The Group has a committed revolving credit facility with
Lloyds Bank plc and Santander UK plc with a facility
limit of \u00a3135m. During the year, the uncommitted one
year extension option was exercised and the facility now
expires in October 2027 (previously October 2026). The
facility has a further one year uncommitted extension
option provided by both banks.
At the balance sheet date, the Group had borrowings of
\u00a35.0m (2024: \u00a3nil), cash and cash equivalents of \u00a36.5m
(2024: \u00a312.9m) and an overdraft of \u00a32.3m (2024: \u00a3nil).
Borrowings net of cash, therefore, was \u00a30.8m and the
total unused facility was \u00a3127.7m (2024: \u00a3135m).
Current forecasts are based on the latest budget and
plan approved by the Board in July 2025. This reflected
a cautious view on the trading outlook based on the
current market conditions and the degree of macro-
economic risk.
These forecasts were then subject to a range of
sensitivities including a severe but plausible scenario
together with the likely effectiveness of mitigating
actions. The assessment considered the combined
impact of a number of realistically possible, but severe
and prolonged changes to principal assumptions from a
downturn in the housing and land markets including:
\u25a0 reduction in Gleeson Homes volumes of
approximately 20% with no recovery;
\u25a0 reduction in Gleeson Homes selling prices by 5%
permanently; and
\u25a0 a delay on the timing of Gleeson Land transactions
and 10% fall in land selling values.
Under these sensitivities, after taking certain mitigating
actions, the Group continues to have a sufficient level of
liquidity, operate within its financial covenants and meet
its liabilities as they fall due.
Based on the results of the analysis undertaken, the
Directors have a reasonable expectation that the
Company and the Group have adequate resources
available to continue in operation for the foreseeable
future and operate in compliance with the Group\u2019s bank
facilities and financial covenants. As such, the financial
statements for the Company and the Group have been
prepared on a going concern basis.
Revenue recognition
Revenue represents the fair value of the consideration
received or receivable in respect of the sale, or sale and
leaseback, of homes and land, net of value added tax
and discounts, which is based on an underlying signed
legal agreement. Revenue is recognised when control
transfers to a customer as follows:
\u25a0 Revenue from the sale, or sale and leaseback, of
homes and sales extras is a single performance
obligation that is satisfied when control is transferred
to the customer, which is deemed to be on legal
completion when title of the property passes to the
customer. Where deposit and exchange funds are
received in advance, no revenue is recognised until
legal completion occurs and the remaining funds are
received.
Revenue on multi-unit sales follows the same treatment,
with revenue recognised on legal completion of each
unit in accordance with the contracted terms.
\u25a0 Revenue from land sales, including land sold under
option agreements, freehold land sales, or fixed-price
land sales, is typically a single performance obligation
that is satisfied at the earlier of when unconditional
contracts to sell are exchanged and control has
passed to the customer or when contracts to sell are
completed and title has passed.
Where the Group grants an option over freehold
land, revenue is recognised on the receipt of any
non-refundable premium as a single performance
obligation, for the grant of the option. On exercise of
that option by the buyer, revenue is recognised as a
land sale which is a separate performance obligation.
Revenue from planning promotion agreements
is recognised at the point at which the Group is
unconditionally entitled to a share of the disposal
proceeds under the terms of the promotion
agreement contract. Payment terms vary on each
land sale; where deferred receipts exceed one year
from completion, the transaction price is adjusted to
reflect the time value of money. Variable consideration
such as an overage is not recognised until the point
at which it is considered highly probable that there
will not be a significant future reversal, which typically
occurs when the amount is agreed by all parties.
The Group has adopted the practical expedient allowed
under IFRS 15 \"Revenue from contracts with customers\"
that states an entity need not adjust the amount of
consideration for the effects of a significant financing
component if the entity expects, at contract inception,
that the period between when the entity transfers a
promised good or service to a customer and when the
customer pays for that good or service will be one year
or less.
Segmental reporting
An operating segment is a component of the Group
that engages in business activities from which it may
earn revenue and incur expenses, including revenue
and expenses that relate to transactions with any of
the Group\u2019s other components, and for which discrete
financial information is available. All segmental operating
results are reviewed regularly by the Executive Board,
identified as the Chief Operating Decision Maker, to
make decisions about resources to be allocated to the
segment and to assess its performance. Segmental
results, assets and liabilities include items directly
attributable to a segment, as well as those that can
be allocated on a reasonable basis. Segmental capital
additions is the total cost incurred during the period to
acquire property, plant and equipment.
Exceptional items
Exceptional items are defined as items of income or
expenditure which, in the opinion of the Directors, are
material and unusual in nature or of such significance
that they require separate disclosure on the face of the
income statement in accordance with IAS 1 \u201cPresentation
of financial statements\u201d. Should these items be reversed,
disclosure of this would also be classified within
exceptional items.
Finance income and expenses
Finance income comprises interest income on bank
deposits and the unwinding of discounts on deferred
receivables and shared equity receivables. Interest
income is recognised as it accrues, using the effective
interest method. Finance income is considered to accrue
as a result of investing activities and is presented as such
in the statement of cash flows.
Finance expenses comprise interest and fees on bank
facilities, leases and the unwinding of discounts on
deferred payables. Also included is the amortisation
of fees associated with the arrangement of financing.
Interest expense is recognised in the income statement
using the effective interest method. Cash flows in relation
to finance expenses are included within operating
activities in the statement of cash flows.
Leases
The Group assesses whether a contract is, or contains, a
lease at inception of the contract. The Group recognises
a right-of-use asset and a corresponding lease liability
with respect to all lease arrangements in which it is the
lessee, except for short-term leases (defined as leases
with a lease term of 12 months or less) and leases of low-
value assets. For these leases, the Group recognises the
lease payments as an operating expense on a straight-
line basis over the term of the lease unless another
systematic basis is more representative of the time
pattern in which economic benefits from the leased
assets are consumed.
A lease liability is initially measured at the present
value of the lease payments that are not paid at the
commencement date, discounted by using the rate
implicit in the lease. If this rate cannot be readily
determined, the Group uses an incremental borrowing
rate that is the rate of interest that the lessee would
have to pay to borrow over a similar term, and with a
similar security, the funds necessary to obtain an asset
of a similar value to the right-of-use asset in a similar
economic environment.
Right-of-use assets are initially measured at cost,
comprising the initial measurement of the lease liability,
plus any initial direct costs and an estimate of asset
retirement obligations, less any lease incentives.
Subsequently, right-of-use assets are measured at cost,
less any accumulated depreciation and any accumulated
impairment losses, and are adjusted for certain
remeasurements of the lease liability. Depreciation is
calculated on a straight-line basis over the length of the
lease.
For a modification that decreases the scope of the
lease, the lease liability is remeasured at the effective
date of the modification using a revised discount rate
representative of the remainder of the lease term. Where
this is not readily determined, the incremental cost of
borrowing will be used. The carrying amount of the
right-of-use asset will decrease to reflect the partial or
full termination of the lease. Any gain or loss relating
to the lease modification is recognised in the income
statement.
Non-financial assets
1. PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment is stated at cost
less accumulated depreciation and any recognised
impairment loss. Depreciation is charged so as to write
off the cost of assets over their estimated useful lives,
using the straight-line method, on the following basis:
\u25a0 Property: over the term of the lease for right-of-
use assets
\u25a0 Plant and equipment: between three and six years
Depreciation of these assets is charged to the income
statement. The Group does not hold any freehold
property.
2. INVESTMENTS
Investments are stated at cost less impairment.
3. INVENTORIES
Inventories are valued at the lower of cost and net
realisable value and are subject to regular impairment
reviews. For Gleeson Homes, inventories comprise
all direct costs incurred in bringing the individual
inventories to their present condition at the reporting
date, including direct materials, direct labour costs
and related overheads. For Gleeson Land, inventories
comprise all direct costs incurred in securing and
promoting land through the planning system through to
the point of sale, less the value of any impairment losses.
For Gleeson Homes, inventories are recognised in cost
of sales as an allocation of the latest forecast gross
margin expected to be generated over the remaining
life of that site, which is an output of the site valuation
process. These valuations, which are carried out at
regular intervals throughout the year, use actual and
forecast selling prices, land costs and build costs. Land
purchased with deferred consideration terms is included
in inventories at its net present value.
For Gleeson Land, inventories are recognised in cost of
sales as an allocation of the promotion costs associated
with the land being sold.
Net realisable value is the estimated selling price in the
ordinary course of business less the estimated costs
of completion and the estimated costs necessary to
make the sale. In Gleeson Homes, the key assumptions
underpinning the assessment of net realisable value are
forecast costs to complete, site margins, contingencies
and selling prices. In Gleeson Land, expected land
value, planning outcome, the remaining duration of the
promotion or option agreement and forecast costs to
complete are used to determine net realisable value.
IMPAIRMENT OF NON FINANCIAL ASSETS
The carrying amount of non-financial assets is 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 is the greater of its
value in use and its fair value less costs of disposal. 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.
An impairment loss is recognised if the carrying amount
of an asset exceeds its estimated recoverable amount.
Impairment losses are recognised in the income
statement within administrative expenses.
Impairment losses recognised in prior periods are
assessed at each reporting date for any indications
that the loss has decreased or no longer exists. An
impairment loss is reversed if there has been a change
in the estimates used to determine the recoverable
amount. An impairment loss is reversed only to the
extent that the asset\u2019s carrying amount does not exceed
the carrying amount that would have been determined if
no impairment loss had been recognised.
Financial assets
1. SHARED EQUITY RECEIVABLES
Shared equity receivables are loans that were offered
to certain customers to assist in the purchase of their
home. Shared equity receivables are recorded at fair
value through other comprehensive income (\"OCI\"),
representing the amount receivable discounted to
present day values. The difference between the nominal
value and the initial fair value is credited over the
deferred term to finance income, with the financial
asset increasing to its full cash settlement value on the
anticipated receipt date. The Group holds a second
charge over property sold under shared equity schemes.
Changes in the fair value of shared equity receivables are
recognised in other comprehensive income.
Interest calculated using the effective interest method
and impairment losses on shared equity receivables are
recognised in the income statement.
2. TRADE AND OTHER RECEIVABLES
Trade and other receivables are initially measured at fair
value and subsequently measured at amortised cost
using the effective interest method, less any provision for
impairment.
Deferred land receivables are discounted to present
values when repayment is due in more than one year
after initial recognition.
CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise cash on hand,
demand deposits and cash held in solicitors' client
accounts on the Group's behalf and are subject to an
insignificant risk of changes in value. Net cash/(debt) is
defined as cash and cash equivalents less borrowings
with an original maturity of three months or less.
IMPAIRMENT OF FINANCIAL ASSETS
An assessment of expected credit losses associated with
financial assets carried at amortised cost is undertaken
on a forward-looking basis. For trade receivables, the
simplified approach as permitted by IFRS 9 \"Financial
instruments\" is applied, which requires expected lifetime
losses to be recognised from initial recognition of the
receivables.
Non-financial liabilities
1. PROVISIONS
Provisions are recognised when there is a present legal
or constructive obligation arising from past events
and it is probable there will be an outflow of resources
required to settle the obligation that can be estimated
reliably. Provisions are measured at the best estimate of
the Directors and discounted to present value where the
effect is material.
2. CONTINGENT LIABILITIES
Where there is a possible obligation arising from past
events that will be confirmed only by the occurrence
or non-occurrence of one or more uncertain future
events then, unless the possibility of such an outflow of
resources in settlement is remote, a contingent liability is
disclosed.
Financial liabilities
1. TRADE AND OTHER PAYABLES
Trade and other payables are initially measured at fair
value and are subsequently measured at amortised cost,
using the effective interest rate method.
Deferred land payables are discounted to present values
when repayment is due in more than one year after
initial recognition.
2. LOANS AND BORROWINGS
Interest bearing bank loans are initially measured at
fair value (being proceeds received, net of direct issue
costs) and are subsequently measured at amortised cost.
Capitalised finance costs are held in other receivables
and amortised over the period of the facility, less any
provision for impairment.
Tax
Tax on the profit or loss for the year comprises current
and deferred tax. 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 or receivable
on the taxable income for the year, using tax rates
enacted or substantively enacted at the balance sheet
date, and any adjustment to tax payable in respect of
previous years.
Deferred tax is provided on temporary differences
between the carrying values of assets and liabilities
for financial reporting purposes and the values used
for taxation 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 balance sheet 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.
Employee benefits
1. DEFINED CONTRIBUTION PENSION PLANS
Obligations for contributions to defined contribution
pension schemes are charged to the income statement
in the period to which the contributions relate.
2. SHARED BASED PAYMENTS
Equity-settled share-based payments (\u201cshare options\u201d)
are measured at fair value at the date of grant. Fair value
is measured using generally accepted option pricing
models, taking into account the terms and conditions
upon which the options were granted. The fair value of
options granted is recognised as an employee expense
with a corresponding credit to equity, spread on a
straight-line basis over the vesting period. Where non-
market vesting conditions apply, the expense is based
on the estimate of awards that are expected to vest.
These awards are granted by the Company and the cost
of the share-based award relating to each subsidiary is
calculated, based on an appropriate apportionment, at
the date of grant and recharged through intercompany.
Own shares held by Employee Benefit Trusts The Employee Benefit Trusts (\u201cEBT\u201d) holds shares in the Company for the purpose of settling employee share purchase plan awards, deferred bonus awards for the Executive Directors, and employee share options through shares purchased from the market. The cost of the Company\u2019s purchase of its own shares is shown as a reduction in shareholders\u2019 equity through the \u201cown shares\u201d reserve until such time as they are vested to employees. Dividends Interim dividends are recorded in the financial statements when paid. Final dividends are recorded in the financial statements in the period in which they receive shareholder approval. Critical accounting judgements and key sources of estimation uncertainty The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and 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 the 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty and judgements that have been applied to the carrying amounts of assets and liabilities at the balance sheet date are listed below. 1. MARGIN RECOGNITION Cost of sales is recognised for completed home sales as an allocation of the latest forecast gross margin expected to be generated over the remaining life of a site, which is an output of the site valuation process. These valuations, which are updated at regular intervals throughout the year, use actual and forecast selling prices, land costs and build costs, and are sensitive to future movements in both the estimated costs to complete and expected selling prices. These estimates are reflected in the margin recognised on sites in relation to sales recognised in the current and future years. There is a degree of inherent uncertainty in making such estimates. The Group has internal controls that are designed to ensure that an effective assessment of the costs to complete a development is made on a regular basis. If gross margin on homes sold decreased by 100 basis points, profit before tax in the year would have been \u00a33.4m lower (2024: \u00a33.2m lower). 2. CARRYING VALUE OF INVENTORIES LAND AND WORK IN PROGRESS Inventories are stated at the lower of cost and net realisable value. For Gleeson Homes, the assessment of net realisable value is performed on a site-by-site basis, taking into account an estimation of costs to complete and remaining revenue. If forecast gross margins reduced by 5%, there would be no loss-making sites and no material impact on the carrying value of inventory. For Gleeson Land, the assessment of net realisable value is performed on a site-by-site basis. Net realisable value is largely dependent on the prospect of obtaining a successful planning consent. Given this, there is some uncertainty over the net realisable value of each site. These assessments include a degree of inherent uncertainty when estimating the profitability of a site and in assessing any impairment provisions that may be required. If a single site in the portfolio failed to obtain planning permission before expiration of the agreement, the carrying value would decrease by \u00a30.6m (2024: \u00a30.4m), based on an average site. The single largest site inventory balance in the portfolio is \u00a310.0m (2024: \u00a32.8m), which includes freehold land purchased on a site on which an option agreement was sold during the year. 3. BUILDING SAFETY As set out in note 18, the Group undertakes periodic reviews of all buildings over 11 metres in which the Group had, over the last 30 years, some involvement in developing. The provision also includes the costs for remediating any buildings under 11 metres where these have been identified to have life critical fire safety issues and where the Group had some involvement in developin over the same period. The Group has recorded a building safety provision which represents the best estimate of the life-critical fire-safety remediation costs associated with these buildings. The building safety provision requires a number of key estimates and judgements in its calculation. If it is deemed that the costs are probable and can be reliably measured then, as per IAS 37 \u201cProvisions, contingent liabilities and contingent assets\u201d, a provision is recorded. If costs are considered possible or cannot be reliably estimated then they are recorded as contingent liabilities. The key judgements include, but are not limited to, the identification of these properties, the time period to consider and which properties should then be included. Judgement is also required in respect of the underlying nature of the building and materials used where intrusive surveys have not yet been carried out.
The key estimates applied to these properties include the
potential costs of investigation, the costs of replacement
materials and works, the costs of disruption to residents
of these buildings and the timing of forecast expenditure.
If forecast remediation costs on these buildings were
20% higher, the provision in the statement of financial
position would be \u00a32.4m higher (2024: \u00a32.5m higher)
with a corresponding exceptional charge in the
consolidated income statement. See note 18 for further
details.
4. REVOLVING CREDIT FACILITY
Under IAS 7 \"Statement of Cash Flows\", cash flows
arising from operating, investing or financing activities
may be reported on a net basis where cash receipts
and payments are quick, the amounts are large and
maturities are short. This includes short-term borrowings,
for example, those which have a maturity period of three
months or less.
The Group typically draws down on its revolving credit
facility for one month or less and repays each drawdown
at the end of the interest period, so the turnover is
quick, the amounts are large and maturities are short.
As permitted under the terms of its facility, the Group
may have separate, concurrent drawdowns and will
typically turn these over quicky to manage fluctuating
working capital needs during the year. In doing so, the
Group minimise its interest costs as it only takes each
drawdown as necessary for the shortest period of time.
The Group considers that net presentation in respect
of drawdowns and repayments of borrowings under its
revolving credit facility is in accordance with IAS 7.
5. CLIMATE CHANGE AND ENVIRONMENTAL RISK
Significant judgement is required to assess the impact
of climate change on the operations of the business
and the carrying value of its assets, including land
held in inventory. Climate change has the potential
to significantly impact our business strategy through
restricted land availability, disrupted build programmes,
material and labour shortages and increased costs. No
provisions or impairment of assets have been recognised
in these financial statements but detailed scenario
analysis is presented in the TCFD section on pages 88
and 89.
6. CARRYING VALUE OF INVESTMENTS COMPANY
ONLY
Investments are stated at cost less impairment.
Significant judgement is required to determine if an
impairment trigger has taken place, and in calculating
an impairment, both judgement and estimation are
required to determine the value in use or fair value
less costs of disposal. It was identified that Gleeson
Construction Services Limited incurred a loss during
the year, which is an indicator that an impairment loss
may have occurred \u2013 see note 12 for further details. For
the investment held in MJ Gleeson Group Limited, an
increase in the loss of MJ Gleeson Group Limited or its
subsidiary, Gleeson Construction Services Limited, of 10%
would lead to an increase in the impairment of \u00a335,000
(2024: \u00a345,000).
Gleeson Developments Limited and Gleeson
Developments (North East) Ltd also incurred losses
during the year. A 10% increase in the loss of either
company would not result in an impairment loss.
Adoption of new and revised standards
For the year ended 30 June 2025, the Group and
Company have applied the following new and revised
standards that were mandatorily effective for an
accounting period beginning on or after 1 January 2024:
\u25a0 Amendments to IAS 1 \u201cPresentation of Financial
Statements\u201d \u2013 Classification of lease liabilities as
Current or Non-Current (effective 1 January 2024)
\u25a0 Amendments to IFRS 16 \u201cLeases\u201d \u2013 Lease Liability in
Sale and Leaseback (effective 1 January 2024)
The adoption of these standards and amendments
has not had any material impact on the disclosures or
amounts reported in these financial statements.
Standards not yet applied
There are a number of standards and interpretations
issued by the International Accounting Standards Board
that are effective for financial statements after this
reporting period. The following have not been adopted
by the Group and Company in preparing the financial
statements for the year ended 30 June 2025:
\u25a0 Amendments to IFRS 9 \u201cFinancial Instruments\u201d
and IFRS 7 \u201cFinancial Instruments: Disclosures\u201d
\u2013 Classification and Measurement of Financial
Instruments (effective 1 January 2026)
\u25a0 IFRS 19 \u201cSubsidiaries without Public Accountability:
Disclosures\u201d (effective 1 January 2027)
\u25a0 IFRS 18 \u201cPresentation and Disclosure in Financial
Statements\u201d (effective 1 January 2027)
The application of the standards and interpretations not
yet applied is not expected to have a material impact
on the Group and Company's financial performance
or position, or give rise to additional disclosures in the
financial statements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-311": { "value": "MJ Gleeson plc (\"the Company\") is a public limited company that is listed on the London Stock Exchange and is incorporated and domiciled in England, United Kingdom. The address of the registered office is 6 Europa Court, Sheffield Business Park, Sheffield, S9 1XE. ", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-3": { "value": "MJ Gleeson plc", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-308": { "value": "MJ Gleeson plc", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-4": { "value": "public limited company", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-5": { "value": "England", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-309": { "value": "England", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-6": { "value": "6 Europa Court, Sheffield Business Park, Sheffield, S9 1XE", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-312": { "value": "Basis of preparation Both the Company financial statements and the Group financial statements have been prepared and approved by the Directors in accordance with UK- adopted International Accounting Standards and in conformity with the requirements of the Companies Act 2006 as applicable to companies reporting under those standards. The consolidated Group and Company financial statements have been prepared on a going concern basis and under the historical cost convention, except as otherwise stated below. The material accounting policies set out below have been applied consistently to all periods presented in the consolidated Group and Company financial statements. The Company has taken advantage of section 408 of the Companies Act 2006 and consequently an income statement and statement of comprehensive income of the Company is not presented as part of these financial statements. ", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-363": { "value": "Both the Company financial statements and the Group financial statements have been prepared and approved by the Directors in accordance with UK- adopted International Accounting Standards and in conformity with the requirements of the Companies Act 2006 as applicable to companies reporting under those standards. ", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-313": { "value": "Basis of consolidation The consolidated financial statements incorporate the financial statements of the Company and all of its subsidiary undertakings (together referred to as \"the Group\u201d).", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-314": { "value": "Subsidiaries Subsidiaries are entities controlled by the Group. The Group controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. 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:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-315": { "value": "Going concern The Group's business activities are set out in the Strategic Report on pages 02 to 103. The principal risks identified are reported under Risk Management on pages 38 to 43. The Group has a committed revolving credit facility with Lloyds Bank plc and Santander UK plc with a facility limit of \u00a3135m. During the year, the uncommitted one year extension option was exercised and the facility now expires in October 2027 (previously October 2026). The facility has a further one year uncommitted extension option provided by both banks. At the balance sheet date, the Group had borrowings of \u00a35.0m (2024: \u00a3nil), cash and cash equivalents of \u00a36.5m (2024: \u00a312.9m) and an overdraft of \u00a32.3m (2024: \u00a3nil). Borrowings net of cash, therefore, was \u00a30.8m and the total unused facility was \u00a3127.7m (2024: \u00a3135m). Current forecasts are based on the latest budget and plan approved by the Board in July 2025. This reflected a cautious view on the trading outlook based on the current market conditions and the degree of macro- economic risk. These forecasts were then subject to a range of sensitivities including a severe but plausible scenario together with the likely effectiveness of mitigating actions. The assessment considered the combined impact of a number of realistically possible, but severe and prolonged changes to principal assumptions from a downturn in the housing and land markets including: \u25a0 reduction in Gleeson Homes volumes of approximately 20% with no recovery; \u25a0 reduction in Gleeson Homes selling prices by 5% permanently; and \u25a0 a delay on the timing of Gleeson Land transactions and 10% fall in land selling values. Under these sensitivities, after taking certain mitigating actions, the Group continues to have a sufficient level of liquidity, operate within its financial covenants and meet its liabilities as they fall due. Based on the results of the analysis undertaken, the Directors have a reasonable expectation that the Company and the Group have adequate resources available to continue in operation for the foreseeable future and operate in compliance with the Group\u2019s bank facilities and financial covenants. As such, the financial statements for the Company and the Group have been prepared on a going concern basis. ", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-316": { "value": "Revenue recognition Revenue represents the fair value of the consideration received or receivable in respect of the sale, or sale and leaseback, of homes and land, net of value added tax and discounts, which is based on an underlying signed legal agreement. Revenue is recognised when control transfers to a customer as follows: \u25a0 Revenue from the sale, or sale and leaseback, of homes and sales extras is a single performance obligation that is satisfied when control is transferred to the customer, which is deemed to be on legal completion when title of the property passes to the customer. Where deposit and exchange funds are received in advance, no revenue is recognised until legal completion occurs and the remaining funds are received. Revenue on multi-unit sales follows the same treatment, with revenue recognised on legal completion of each unit in accordance with the contracted terms. \u25a0 Revenue from land sales, including land sold under option agreements, freehold land sales, or fixed-price land sales, is typically a single performance obligation that is satisfied at the earlier of when unconditional contracts to sell are exchanged and control has passed to the customer or when contracts to sell are completed and title has passed. Where the Group grants an option over freehold land, revenue is recognised on the receipt of any non-refundable premium as a single performance obligation, for the grant of the option. On exercise of that option by the buyer, revenue is recognised as a land sale which is a separate performance obligation. Revenue from planning promotion agreements is recognised at the point at which the Group is unconditionally entitled to a share of the disposal proceeds under the terms of the promotion agreement contract. Payment terms vary on each land sale; where deferred receipts exceed one year from completion, the transaction price is adjusted to reflect the time value of money. Variable consideration such as an overage is not recognised until the point at which it is considered highly probable that there will not be a significant future reversal, which typically occurs when the amount is agreed by all parties. The Group has adopted the practical expedient allowed under IFRS 15 \"Revenue from contracts with customers\" that states an entity need not adjust the amount of consideration for the effects of a significant financing component if the entity expects, at contract inception, that the period between when the entity transfers a promised good or service to a customer and when the customer pays for that good or service will be one year or less. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-317": { "value": "Segmental reporting An operating segment is a component of the Group that engages in business activities from which it may earn revenue and incur expenses, including revenue and expenses that relate to transactions with any of the Group\u2019s other components, and for which discrete financial information is available. All segmental operating results are reviewed regularly by the Executive Board, identified as the Chief Operating Decision Maker, to make decisions about resources to be allocated to the segment and to assess its performance. Segmental results, assets and liabilities include items directly attributable to a segment, as well as those that can be allocated on a reasonable basis. Segmental capital additions is the total cost incurred during the period to acquire property, plant and equipment. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-318": { "value": "Exceptional items Exceptional items are defined as items of income or expenditure which, in the opinion of the Directors, are material and unusual in nature or of such significance that they require separate disclosure on the face of the income statement in accordance with IAS 1 \u201cPresentation of financial statements\u201d. Should these items be reversed, disclosure of this would also be classified within exceptional items. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForExceptionalItemsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-392": { "value": "Finance income and expenses Finance income comprises interest income on bank deposits and the unwinding of discounts on deferred receivables and shared equity receivables. Interest income is recognised as it accrues, using the effective interest method. Finance income is considered to accrue as a result of investing activities and is presented as such in the statement of cash flows. Finance expenses comprise interest and fees on bank facilities, leases and the unwinding of discounts on deferred payables. Also included is the amortisation of fees associated with the arrangement of financing. Interest expense is recognised in the income statement using the effective interest method. Cash flows in relation to finance expenses are included within operating activities in the statement of cash flows. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-364": { "value": "Finance income and expenses Finance income comprises interest income on bank deposits and the unwinding of discounts on deferred receivables and shared equity receivables. Interest income is recognised as it accrues, using the effective interest method. Finance income is considered to accrue as a result of investing activities and is presented as such in the statement of cash flows. Finance expenses comprise interest and fees on bank facilities, leases and the unwinding of discounts on deferred payables. Also included is the amortisation of fees associated with the arrangement of financing. Interest expense is recognised in the income statement using the effective interest method. Cash flows in relation to finance expenses are included within operating activities in the statement of cash flows. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-319": { "value": "Finance income and expenses Finance income comprises interest income on bank deposits and the unwinding of discounts on deferred receivables and shared equity receivables. Interest income is recognised as it accrues, using the effective interest method. Finance income is considered to accrue as a result of investing activities and is presented as such in the statement of cash flows. Finance expenses comprise interest and fees on bank facilities, leases and the unwinding of discounts on deferred payables. Also included is the amortisation of fees associated with the arrangement of financing. Interest expense is recognised in the income statement using the effective interest method. Cash flows in relation to finance expenses are included within operating activities in the statement of cash flows. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-320": { "value": "Leases The Group assesses whether a contract is, or contains, a lease at inception of the contract. The Group recognises a right-of-use asset and a corresponding lease liability with respect to all lease arrangements in which it is the lessee, except for short-term leases (defined as leases with a lease term of 12 months or less) and leases of low- value assets. For these leases, the Group recognises the lease payments as an operating expense on a straight- line basis over the term of the lease unless another systematic basis is more representative of the time pattern in which economic benefits from the leased assets are consumed. A lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease. If this rate cannot be readily determined, the Group uses an incremental borrowing rate that is the rate of interest that the lessee would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic environment. Right-of-use assets are initially measured at cost, comprising the initial measurement of the lease liability, plus any initial direct costs and an estimate of asset retirement obligations, less any lease incentives. Subsequently, right-of-use assets are measured at cost, less any accumulated depreciation and any accumulated impairment losses, and are adjusted for certain remeasurements of the lease liability. Depreciation is calculated on a straight-line basis over the length of the lease. For a modification that decreases the scope of the lease, the lease liability is remeasured at the effective date of the modification using a revised discount rate representative of the remainder of the lease term. Where this is not readily determined, the incremental cost of borrowing will be used. The carrying amount of the right-of-use asset will decrease to reflect the partial or full termination of the lease. Any gain or loss relating to the lease modification is recognised in the income statement. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-321": { "value": "1. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment is stated at cost less accumulated depreciation and any recognised impairment loss. Depreciation is charged so as to write off the cost of assets over their estimated useful lives, using the straight-line method, on the following basis: \u25a0 Property: over the term of the lease for right-of- use assets \u25a0 Plant and equipment: between three and six years Depreciation of these assets is charged to the income statement. The Group does not hold any freehold property. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-365": { "value": "1. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment is stated at cost less accumulated depreciation and any recognised impairment loss. Depreciation is charged so as to write off the cost of assets over their estimated useful lives, using the straight-line method, on the following basis: \u25a0 Property: over the term of the lease for right-of- use assets \u25a0 Plant and equipment: between three and six years Depreciation of these assets is charged to the income statement. The Group does not hold any freehold property. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-322": { "value": "2. INVESTMENTS Investments are stated at cost less impairment. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-323": { "value": "3. INVENTORIES Inventories are valued at the lower of cost and net realisable value and are subject to regular impairment reviews. For Gleeson Homes, inventories comprise all direct costs incurred in bringing the individual inventories to their present condition at the reporting date, including direct materials, direct labour costs and related overheads. For Gleeson Land, inventories comprise all direct costs incurred in securing and promoting land through the planning system through to the point of sale, less the value of any impairment losses. For Gleeson Homes, inventories are recognised in cost of sales as an allocation of the latest forecast gross margin expected to be generated over the remaining life of that site, which is an output of the site valuation process. These valuations, which are carried out at regular intervals throughout the year, use actual and forecast selling prices, land costs and build costs. Land purchased with deferred consideration terms is included in inventories at its net present value. For Gleeson Land, inventories are recognised in cost of sales as an allocation of the promotion costs associated with the land being sold. Net realisable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. In Gleeson Homes, the key assumptions underpinning the assessment of net realisable value are forecast costs to complete, site margins, contingencies and selling prices. In Gleeson Land, expected land value, planning outcome, the remaining duration of the promotion or option agreement and forecast costs to complete are used to determine net realisable value. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-366": { "value": "IMPAIRMENT OF NON FINANCIAL ASSETS The carrying amount of non-financial assets is 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 is the greater of its value in use and its fair value less costs of disposal. 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. An impairment loss is recognised if the carrying amount of an asset exceeds its estimated recoverable amount. Impairment losses are recognised in the income statement within administrative expenses. Impairment losses recognised in prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset\u2019s carrying amount does not exceed the carrying amount that would have been determined if no impairment loss had been recognised. IMPAIRMENT OF FINANCIAL ASSETS An assessment of expected credit losses associated with financial assets carried at amortised cost is undertaken on a forward-looking basis. For trade receivables, the simplified approach as permitted by IFRS 9 \"Financial instruments\" is applied, which requires expected lifetime losses to be recognised from initial recognition of the receivables. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-324": { "value": "IMPAIRMENT OF NON FINANCIAL ASSETS The carrying amount of non-financial assets is 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 is the greater of its value in use and its fair value less costs of disposal. 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. An impairment loss is recognised if the carrying amount of an asset exceeds its estimated recoverable amount. Impairment losses are recognised in the income statement within administrative expenses. Impairment losses recognised in prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset\u2019s carrying amount does not exceed the carrying amount that would have been determined if no impairment loss had been recognised. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-393": { "value": "Financial assets 1. SHARED EQUITY RECEIVABLES Shared equity receivables are loans that were offered to certain customers to assist in the purchase of their home. Shared equity receivables are recorded at fair value through other comprehensive income (\"OCI\"), representing the amount receivable discounted to present day values. The difference between the nominal value and the initial fair value is credited over the deferred term to finance income, with the financial asset increasing to its full cash settlement value on the anticipated receipt date. The Group holds a second charge over property sold under shared equity schemes. Changes in the fair value of shared equity receivables are recognised in other comprehensive income. Interest calculated using the effective interest method and impairment losses on shared equity receivables are recognised in the income statement. 2. TRADE AND OTHER RECEIVABLES Trade and other receivables are initially measured at fair value and subsequently measured at amortised cost using the effective interest method, less any provision for impairment. Deferred land receivables are discounted to present values when repayment is due in more than one year after initial recognition. CASH AND CASH EQUIVALENTS Cash and cash equivalents comprise cash on hand, demand deposits and cash held in solicitors' client accounts on the Group's behalf and are subject to an insignificant risk of changes in value. Net cash/(debt) is defined as cash and cash equivalents less borrowings with an original maturity of three months or less. IMPAIRMENT OF FINANCIAL ASSETS An assessment of expected credit losses associated with financial assets carried at amortised cost is undertaken on a forward-looking basis. For trade receivables, the simplified approach as permitted by IFRS 9 \"Financial instruments\" is applied, which requires expected lifetime losses to be recognised from initial recognition of the receivables. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-325": { "value": "1. SHARED EQUITY RECEIVABLES Shared equity receivables are loans that were offered to certain customers to assist in the purchase of their home. Shared equity receivables are recorded at fair value through other comprehensive income (\"OCI\"), representing the amount receivable discounted to present day values. The difference between the nominal value and the initial fair value is credited over the deferred term to finance income, with the financial asset increasing to its full cash settlement value on the anticipated receipt date. The Group holds a second charge over property sold under shared equity schemes. Changes in the fair value of shared equity receivables are recognised in other comprehensive income. Interest calculated using the effective interest method and impairment losses on shared equity receivables are recognised in the income statement. ", "dimensions": { "concept": "mjgleesonplc:DescriptionOfAccountingPolicyForSharedEquityReceivables", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-326": { "value": "2. TRADE AND OTHER RECEIVABLES Trade and other receivables are initially measured at fair value and subsequently measured at amortised cost using the effective interest method, less any provision for impairment. Deferred land receivables are discounted to present values when repayment is due in more than one year after initial recognition. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-327": { "value": "CASH AND CASH EQUIVALENTS Cash and cash equivalents comprise cash on hand, demand deposits and cash held in solicitors' client accounts on the Group's behalf and are subject to an insignificant risk of changes in value. Net cash/(debt) is defined as cash and cash equivalents less borrowings with an original maturity of three months or less. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-328": { "value": "IMPAIRMENT OF FINANCIAL ASSETS An assessment of expected credit losses associated with financial assets carried at amortised cost is undertaken on a forward-looking basis. For trade receivables, the simplified approach as permitted by IFRS 9 \"Financial instruments\" is applied, which requires expected lifetime losses to be recognised from initial recognition of the receivables. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-329": { "value": "1. PROVISIONS Provisions are recognised when there is a present legal or constructive obligation arising from past events and it is probable there will be an outflow of resources required to settle the obligation that can be estimated reliably. Provisions are measured at the best estimate of the Directors and discounted to present value where the effect is material. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-330": { "value": "2. CONTINGENT LIABILITIES Where there is a possible obligation arising from past events that will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events then, unless the possibility of such an outflow of resources in settlement is remote, a contingent liability is disclosed. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-394": { "value": "Financial liabilities 1. TRADE AND OTHER PAYABLES Trade and other payables are initially measured at fair value and are subsequently measured at amortised cost, using the effective interest rate method. Deferred land payables are discounted to present values when repayment is due in more than one year after initial recognition. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-331": { "value": "1. TRADE AND OTHER PAYABLES Trade and other payables are initially measured at fair value and are subsequently measured at amortised cost, using the effective interest rate method. Deferred land payables are discounted to present values when repayment is due in more than one year after initial recognition. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-367": { "value": "2. LOANS AND BORROWINGS Interest bearing bank loans are initially measured at fair value (being proceeds received, net of direct issue costs) and are subsequently measured at amortised cost. Capitalised finance costs are held in other receivables and amortised over the period of the facility, less any provision for impairment. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-332": { "value": "2. LOANS AND BORROWINGS Interest bearing bank loans are initially measured at fair value (being proceeds received, net of direct issue costs) and are subsequently measured at amortised cost. Capitalised finance costs are held in other receivables and amortised over the period of the facility, less any provision for impairment. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-368": { "value": "Tax Tax on the profit or loss for the year comprises current and deferred tax. 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 or receivable on the taxable income for the year, using tax rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years. Deferred tax is provided on temporary differences between the carrying values of assets and liabilities for financial reporting purposes and the values used for taxation 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 balance sheet 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. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-333": { "value": "Tax Tax on the profit or loss for the year comprises current and deferred tax. 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 or receivable on the taxable income for the year, using tax rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years. Deferred tax is provided on temporary differences between the carrying values of assets and liabilities for financial reporting purposes and the values used for taxation 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 balance sheet 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. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-334": { "value": "Employee benefits 1. DEFINED CONTRIBUTION PENSION PLANS Obligations for contributions to defined contribution pension schemes are charged to the income statement in the period to which the contributions relate. 2. SHARED BASED PAYMENTS Equity-settled share-based payments (\u201cshare options\u201d) are measured at fair value at the date of grant. Fair value is measured using generally accepted option pricing models, taking into account the terms and conditions upon which the options were granted. The fair value of options granted is recognised as an employee expense with a corresponding credit to equity, spread on a straight-line basis over the vesting period. Where non- market vesting conditions apply, the expense is based on the estimate of awards that are expected to vest. These awards are granted by the Company and the cost of the share-based award relating to each subsidiary is calculated, based on an appropriate apportionment, at the date of grant and recharged through intercompany. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-369": { "value": "2. SHARED BASED PAYMENTS Equity-settled share-based payments (\u201cshare options\u201d) are measured at fair value at the date of grant. Fair value is measured using generally accepted option pricing models, taking into account the terms and conditions upon which the options were granted. The fair value of options granted is recognised as an employee expense with a corresponding credit to equity, spread on a straight-line basis over the vesting period. Where non- market vesting conditions apply, the expense is based on the estimate of awards that are expected to vest. These awards are granted by the Company and the cost of the share-based award relating to each subsidiary is calculated, based on an appropriate apportionment, at the date of grant and recharged through intercompany. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-335": { "value": "
Own shares held by Employee Benefit Trusts
The Employee Benefit Trusts (\u201cEBT\u201d) holds shares in
the Company for the purpose of settling employee
share purchase plan awards, deferred bonus awards for
the Executive Directors, and employee share options
through shares purchased from the market. The cost of
the Company\u2019s purchase of its own shares is shown as
a reduction in shareholders\u2019 equity through the \u201cown
shares\u201d reserve until such time as they are vested to
employees.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-336": { "value": "
Dividends
Interim dividends are recorded in the financial
statements when paid. Final dividends are recorded
in the financial statements in the period in which they
receive shareholder approval.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-337": { "value": "
Critical accounting judgements and key
sources of estimation uncertainty
The preparation of financial statements requires
management to make judgements, estimates and
assumptions that affect the application of policies and
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 the 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 if the revision affects only that period, or in the
period of the revision and future periods if the revision
affects both current and future periods.
The key sources of estimation uncertainty and
judgements that have been applied to the carrying
amounts of assets and liabilities at the balance sheet
date are listed below.
1. MARGIN RECOGNITION
Cost of sales is recognised for completed home sales as
an allocation of the latest forecast gross margin expected
to be generated over the remaining life of a site, which is
an output of the site valuation process. These valuations,
which are updated at regular intervals throughout the
year, use actual and forecast selling prices, land costs
and build costs, and are sensitive to future movements
in both the estimated costs to complete and expected
selling prices. These estimates are reflected in the
margin recognised on sites in relation to sales recognised
in the current and future years. There is a degree of
inherent uncertainty in making such estimates. The
Group has internal controls that are designed to ensure
that an effective assessment of the costs to complete a
development is made on a regular basis. If gross margin
on homes sold decreased by 100 basis points, profit
before tax in the year would have been \u00a33.4m lower
(2024: \u00a33.2m lower).
2. CARRYING VALUE OF INVENTORIES LAND AND
WORK IN PROGRESS
Inventories are stated at the lower of cost and net
realisable value. For Gleeson Homes, the assessment of
net realisable value is performed on a site-by-site basis,
taking into account an estimation of costs to complete
and remaining revenue. If forecast gross margins
reduced by 5%, there would be no loss-making sites and
no material impact on the carrying value of inventory.
For Gleeson Land, the assessment of net realisable
value is performed on a site-by-site basis. Net realisable
value is largely dependent on the prospect of obtaining
a successful planning consent. Given this, there is
some uncertainty over the net realisable value of each
site. These assessments include a degree of inherent
uncertainty when estimating the profitability of a site
and in assessing any impairment provisions that may be
required. If a single site in the portfolio failed to obtain
planning permission before expiration of the agreement,
the carrying value would decrease by \u00a30.6m (2024:
\u00a30.4m), based on an average site. The single largest site
inventory balance in the portfolio is \u00a310.0m (2024: \u00a32.8m),
which includes freehold land purchased on a site on
which an option agreement was sold during the year.
3. BUILDING SAFETY
As set out in note 18, the Group undertakes periodic
reviews of all buildings over 11 metres in which the
Group had, over the last 30 years, some involvement
in developing. The provision also includes the costs
for remediating any buildings under 11 metres where
these have been identified to have life critical fire safety
issues and where the Group had some involvement in
developin over the same period.
The Group has recorded a building safety provision which
represents the best estimate of the life-critical fire-safety
remediation costs associated with these buildings.
The building safety provision requires a number of
key estimates and judgements in its calculation. If it is
deemed that the costs are probable and can be reliably
measured then, as per IAS 37 \u201cProvisions, contingent
liabilities and contingent assets\u201d, a provision is recorded.
If costs are considered possible or cannot be reliably
estimated then they are recorded as contingent
liabilities. The key judgements include, but are not
limited to, the identification of these properties, the time
period to consider and which properties should then be
included. Judgement is also required in respect of the
underlying nature of the building and materials used
where intrusive surveys have not yet been carried out.
The key estimates applied to these properties include the potential costs of investigation, the costs of replacement materials and works, the costs of disruption to residents of these buildings and the timing of forecast expenditure. If forecast remediation costs on these buildings were 20% higher, the provision in the statement of financial position would be \u00a32.4m higher (2024: \u00a32.5m higher) with a corresponding exceptional charge in the consolidated income statement. See note 18 for further details. 4. REVOLVING CREDIT FACILITY Under IAS 7 \"Statement of Cash Flows\", cash flows arising from operating, investing or financing activities may be reported on a net basis where cash receipts and payments are quick, the amounts are large and maturities are short. This includes short-term borrowings, for example, those which have a maturity period of three months or less. The Group typically draws down on its revolving credit facility for one month or less and repays each drawdown at the end of the interest period, so the turnover is quick, the amounts are large and maturities are short. As permitted under the terms of its facility, the Group may have separate, concurrent drawdowns and will typically turn these over quicky to manage fluctuating working capital needs during the year. In doing so, the Group minimise its interest costs as it only takes each drawdown as necessary for the shortest period of time. The Group considers that net presentation in respect of drawdowns and repayments of borrowings under its revolving credit facility is in accordance with IAS 7. 5. CLIMATE CHANGE AND ENVIRONMENTAL RISK Significant judgement is required to assess the impact of climate change on the operations of the business and the carrying value of its assets, including land held in inventory. Climate change has the potential to significantly impact our business strategy through restricted land availability, disrupted build programmes, material and labour shortages and increased costs. No provisions or impairment of assets have been recognised in these financial statements but detailed scenario analysis is presented in the TCFD section on pages 88 and 89. 6. CARRYING VALUE OF INVESTMENTS COMPANY ONLY Investments are stated at cost less impairment. Significant judgement is required to determine if an impairment trigger has taken place, and in calculating an impairment, both judgement and estimation are required to determine the value in use or fair value less costs of disposal. It was identified that Gleeson Construction Services Limited incurred a loss during the year, which is an indicator that an impairment loss may have occurred \u2013 see note 12 for further details. For the investment held in MJ Gleeson Group Limited, an increase in the loss of MJ Gleeson Group Limited or its subsidiary, Gleeson Construction Services Limited, of 10% would lead to an increase in the impairment of \u00a335,000 (2024: \u00a345,000). Gleeson Developments Limited and Gleeson Developments (North East) Ltd also incurred losses during the year. A 10% increase in the loss of either company would not result in an impairment loss. ", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-370": { "value": "Adoption of new and revised standards For the year ended 30 June 2025, the Group and Company have applied the following new and revised standards that were mandatorily effective for an accounting period beginning on or after 1 January 2024: \u25a0 Amendments to IAS 1 \u201cPresentation of Financial Statements\u201d \u2013 Classification of lease liabilities as Current or Non-Current (effective 1 January 2024) \u25a0 Amendments to IFRS 16 \u201cLeases\u201d \u2013 Lease Liability in Sale and Leaseback (effective 1 January 2024) The adoption of these standards and amendments has not had any material impact on the disclosures or amounts reported in these financial statements. Standards not yet applied There are a number of standards and interpretations issued by the International Accounting Standards Board that are effective for financial statements after this reporting period. The following have not been adopted by the Group and Company in preparing the financial statements for the year ended 30 June 2025: \u25a0 Amendments to IFRS 9 \u201cFinancial Instruments\u201d and IFRS 7 \u201cFinancial Instruments: Disclosures\u201d \u2013 Classification and Measurement of Financial Instruments (effective 1 January 2026) \u25a0 IFRS 19 \u201cSubsidiaries without Public Accountability: Disclosures\u201d (effective 1 January 2027) \u25a0 IFRS 18 \u201cPresentation and Disclosure in Financial Statements\u201d (effective 1 January 2027) The application of the standards and interpretations not yet applied is not expected to have a material impact on the Group and Company's financial performance or position, or give rise to additional disclosures in the financial statements.", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-338": { "value": "Adoption of new and revised standards For the year ended 30 June 2025, the Group and Company have applied the following new and revised standards that were mandatorily effective for an accounting period beginning on or after 1 January 2024: \u25a0 Amendments to IAS 1 \u201cPresentation of Financial Statements\u201d \u2013 Classification of lease liabilities as Current or Non-Current (effective 1 January 2024) \u25a0 Amendments to IFRS 16 \u201cLeases\u201d \u2013 Lease Liability in Sale and Leaseback (effective 1 January 2024) The adoption of these standards and amendments has not had any material impact on the disclosures or amounts reported in these financial statements. ", "dimensions": { "concept": "ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-339": { "value": "Standards not yet applied There are a number of standards and interpretations issued by the International Accounting Standards Board that are effective for financial statements after this reporting period. The following have not been adopted by the Group and Company in preparing the financial statements for the year ended 30 June 2025: \u25a0 Amendments to IFRS 9 \u201cFinancial Instruments\u201d and IFRS 7 \u201cFinancial Instruments: Disclosures\u201d \u2013 Classification and Measurement of Financial Instruments (effective 1 January 2026) \u25a0 IFRS 19 \u201cSubsidiaries without Public Accountability: Disclosures\u201d (effective 1 January 2027) \u25a0 IFRS 18 \u201cPresentation and Disclosure in Financial Statements\u201d (effective 1 January 2027) The application of the standards and interpretations not yet applied is not expected to have a material impact on the Group and Company's financial performance or position, or give rise to additional disclosures in the financial statements.", "dimensions": { "concept": "ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-340": { "value": "2 Segmental analysis The Group is organised into the following two operating divisions under the control of the Executive Board, which is identified as the Chief Operating Decision Maker as defined under IFRS 8 \"Operating segments\": \u25a0 Gleeson Homes \u25a0 Gleeson Land All of the Group's operations are carried out entirely within the United Kingdom. Segmental information about the Group's operations is presented below:
2025 2025
Pre- Exceptional
exceptional items 2025 2024
items (note 3) Total Total
\u00a3000 \u00a3000 \u00a3000 \u00a3000
Revenue
Gleeson Homes
348,249
\u2013
348,249
329,006
Gleeson Land
17,568
\u2013
17,568
16,339
Total revenue
365,817
\u2013
365,817
345,345
Divisional operating profit
Gleeson Homes
22,253
(1,343)
20,910
30,301
Gleeson Land
6,996
\u2013
6,996
2,151
Divisional operating profits
29,249
(1,343)
27,906
32,452
Group administrative expenses
(3,867)
\u2013
(3,867)
(3,899)
Group operating profit
25,382
(1,343)
24,039
28,553
Finance income
141
\u2013
141
109
Finance expenses
(3,636)
\u2013
(3,636)
(3,813)
Profit before tax
21,887
(1,343)
20,544
24,849
Tax
(5,030)
309
(4,721)
(5,543)
Profit for the year
16,857
(1,034)
15,823
19,306
Revenue in the Gleeson Homes segment primarily relates to the sale of residential properties. In addition, within revenue for Gleeson Homes is \u00a31,215,000 relating to land sales (2024: \u00a3nil). There was no revenue recognised in respect of partnership arrangements during the year to 30 June 2025 (2024: \u00a3nil). All revenue for the Gleeson Land segment is in relation to the sale of land interests and overages on the sale of land. There is no revenue relating to Group activities. No single customer accounts for more than 10% of revenue (2024: one single customer accounted for 13.4% of revenue in Gleeson Homes). Balance sheet analysis of business segments:
2025
2024
Net
assets/ Net assets/
Assets Liabilities (liabilities) Assets Liabilities (liabilities)
\u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000
Gleeson Homes
352,143
(92,195)
259,948
329,927
(76,029)
253,898
Gleeson Land
58,805
(9,931)
48,874
34,158
(2,582)
31,576
Group activities
1,935
(2,312)
(377)
1,028
(1,694)
(666)
Cash and cash equivalents/
(borrowings and bank overdrafts)
6,490
(7,269)
(779)
12,934
\u2013
12,934
419,373
(111,707)
307,666
378,047
(80,305)
297,742
Other information:
2025
2024
Capital Capital
additions Depreciation additions Depreciation
\u00a3000 \u00a3000 \u00a3000 \u00a3000
Gleeson Homes
2,002
4,154
2,039
4,529
Gleeson Land
43
118
\u2013
92
2,045
4,272
2,039
4,621
", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-342": { "value": "
3 Exceptional items
Reorganisation
During the year there was a reorganisation of the Gleeson Homes division, the purpose of which was to shorten
reporting lines, empower the divisional leadership teams and strengthen regional management. This process involved
the consultation of a number of employees prior to the year end and principally two regions, Greater Manchester &
Merseyside and Cumbria, whilst remaining separate operating regions, will now come under a single leadership team.
In addition, as part of the reorganisation, the role of Gleeson Homes Chief Executive was removed.
The restructuring expense of \u00a31,343,000 included redundancy costs of \u00a3852,000 and legal and consultancy costs
of \u00a3491,000. The amount, combined with the number of colleagues directly and indirectly impacted by the
reorganisation, and the fact that this was a one-off cost, made this an exceptional item in the year. As at 30 June 2025,
\u00a3625,000 remained as a provision.
2025 2024
\u00a3000 \u00a3000
Administrative expenses
1,343
\u2013
", "dimensions": { "concept": "mjgleesonplc:DisclosureOfExceptionalItems", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-341": { "value": "
4 Expenses and auditors' remuneration
Profit for the year is stated after charging/(crediting):
Note
2025 2024
\u00a3000 \u00a3000
Staff costs
6
49,547
47,376
Depreciation of property, plant and equipment
11
4,272
4,621
Profit on redemption of shared equity receivables
(57)
(182)
Loss on disposal of property, plant and equipment
11
414
466
Auditors' remuneration:
Audit of these financial statements
340
323
Additional audit fees for prior year audit
33
\u2013
Audit of financial statements of subsidiaries pursuant to legislation
96
92
Non-audit services
\u2013
\u2013
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-408": { "value": "4 Expenses and auditors' remuneration Profit for the year is stated after charging/(crediting): Note
2025 2024
\u00a3000 \u00a3000
Staff costs
6
49,547
47,376
Depreciation of property, plant and equipment
11
4,272
4,621
Profit on redemption of shared equity receivables
(57)
(182)
Loss on disposal of property, plant and equipment
11
414
466
Auditors' remuneration:
Audit of these financial statements
340
323
Additional audit fees for prior year audit
33
\u2013
Audit of financial statements of subsidiaries pursuant to legislation
96
92
Non-audit services
\u2013
\u2013
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-395": { "value": "4 Expenses and auditors' remuneration Profit for the year is stated after charging/(crediting): Note
2025 2024
\u00a3000 \u00a3000
Staff costs
6
49,547
47,376
Depreciation of property, plant and equipment
11
4,272
4,621
Profit on redemption of shared equity receivables
(57)
(182)
Loss on disposal of property, plant and equipment
11
414
466
Auditors' remuneration:
Audit of these financial statements
340
323
Additional audit fees for prior year audit
33
\u2013
Audit of financial statements of subsidiaries pursuant to legislation
96
92
Non-audit services
\u2013
\u2013
", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-371": { "value": "4 Expenses and auditors' remuneration Profit for the year is stated after charging/(crediting): Note
2025 2024
\u00a3000 \u00a3000
Staff costs
6
49,547
47,376
Depreciation of property, plant and equipment
11
4,272
4,621
Profit on redemption of shared equity receivables
(57)
(182)
Loss on disposal of property, plant and equipment
11
414
466
Auditors' remuneration:
Audit of these financial statements
340
323
Additional audit fees for prior year audit
33
\u2013
Audit of financial statements of subsidiaries pursuant to legislation
96
92
Non-audit services
\u2013
\u2013
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-343": { "value": "
5 Other operating income
2025 2024
\u00a3000 \u00a3000
Profit on redemption of shared equity receivables
57
182
Other operating income
80
70
137
252
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-372": { "value": "5 Other operating income
2025 2024
\u00a3000 \u00a3000
Profit on redemption of shared equity receivables
57
182
Other operating income
80
70
137
252
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-344": { "value": "
6 Staff costs
Group
Company
2025 2024 2025 2024
Note \u00a3000 \u00a3000 \u00a3000 \u00a3000
Wages and salaries
41,113
40,997
1,601
1,453
Termination benefits
1,172
\u2013
\u2013
\u2013
Share-based payment charge
24
660
218
484
481
Social security costs
4,964
4,517
144
235
Other pension costs
19
1,638
1,644
71
71
49,547
47,376
2,300
2,240
The monthly average number of employees, excluding Non-Executive Directors, during the year was:
Group
2025 2024
No. No.
Gleeson Homes
695
730
Gleeson Land
25
21
Group activities
4
5
724
756
The monthly average number of Company employees and Non-Executive Directors during the year was nine (2024:
nine).
Key management remuneration
Key management personnel, as defined under IAS 24 \"Related party disclosures\", have been identified as
the Executive and Non-Executive Directors, the Chief Executive of Gleeson Homes, the Managing Director
of Gleeson Land, the Divisional Managing Directors of Gleeson Homes and the Group Land and Planning
Director. Detailed disclosures of Directors\u2019 individual remuneration, for those Directors who served during
the year, are given in the audited sections within the Remuneration Report on pages 140 to 151.
A summary of key management remuneration is as follows:
Group
Company
2025 2024 2025 2024
\u00a3000 \u00a3000 \u00a3000 \u00a3000
Short-term employee benefits
2,825
2,393
1,396
1,022
Post-employment benefits
134
133
60
59
Termination benefits
443
\u2013
\u2013
\u2013
Share-based payment charge
1
560
342
478
483
3,962
2,868
1,934
1,564
1
Share-based payments reflect the IFRS 2 \"Share-based payment\" charge through the income statement.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-373": { "value": "Key management remuneration Key management personnel, as defined under IAS 24 \"Related party disclosures\", have been identified as the Executive and Non-Executive Directors, the Chief Executive of Gleeson Homes, the Managing Director of Gleeson Land, the Divisional Managing Directors of Gleeson Homes and the Group Land and Planning Director. Detailed disclosures of Directors\u2019 individual remuneration, for those Directors who served during the year, are given in the audited sections within the Remuneration Report on pages 140 to 151. A summary of key management remuneration is as follows:
Group
Company
2025 2024 2025 2024
\u00a3000 \u00a3000 \u00a3000 \u00a3000
Short-term employee benefits
2,825
2,393
1,396
1,022
Post-employment benefits
134
133
60
59
Termination benefits
443
\u2013
\u2013
\u2013
Share-based payment charge
1
560
342
478
483
3,962
2,868
1,934
1,564
1 Share-based payments reflect the IFRS 2 \"Share-based payment\" charge through the income statement. Transactions with key management personnel The Group's key management personnel are the Executive and Non-Executive Directors, as identified on pages 110 and 111, the Chief Executive of Gleeson Homes, the Managing Director of Gleeson Land, the Divisional Managing Directors of Gleeson Homes and the Group Land and Planning Director. During the year ended 30 June 2021, the Group exchanged contracts on a conditional agreement to purchase an area of land from Hampton Investment Properties Ltd (\u201cHIPL\u201d) for \u00a31,050,000. HIPL is a company in which North Atlantic Smaller Companies Investment Trust plc (\u201cNASCIT\u201d), a substantial holder in the company, holds a majority investment. In addition, Christopher Mills, a Non-Executive Director of the Company, is considered a related party by virtue of his interest in and directorship of NASCIT and his position as a Director of HIPL. The land, if purchased, will form part of a new Gleeson Homes site being developed in the ordinary course of business. Approval of this purchase was granted by the majority of shareholders at the AGM in December 2019. Other than disclosed above, there were no other transactions with key management personnel in either the current or prior year. ", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-345": { "value": "
7 Finance income and expenses
2025 2024
\u00a3000 \u00a3000
Finance income
Interest on bank deposits
63
16
Unwinding of discount on long-term receivables
3
78
Other interest income
75
15
141
109
Finance expenses
Interest on bank overdrafts and loans
(2,710)
(3,040)
Bank facility charges
(458)
(379)
Unwinding of discount on long-term payables
(240)
(160)
Unwinding of discount on lease liabilities
(228)
(234)
(3,636)
(3,813)
Net finance expenses
(3,495)
(3,704)
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-416": { "value": "7 Finance income and expenses
2025 2024
\u00a3000 \u00a3000
Finance income
Interest on bank deposits
63
16
Unwinding of discount on long-term receivables
3
78
Other interest income
75
15
141
109
Finance expenses
Interest on bank overdrafts and loans
(2,710)
(3,040)
Bank facility charges
(458)
(379)
Unwinding of discount on long-term payables
(240)
(160)
Unwinding of discount on lease liabilities
(228)
(234)
(3,636)
(3,813)
Net finance expenses
(3,495)
(3,704)
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-413": { "value": "7 Finance income and expenses
2025 2024
\u00a3000 \u00a3000
Finance income
Interest on bank deposits
63
16
Unwinding of discount on long-term receivables
3
78
Other interest income
75
15
141
109
Finance expenses
Interest on bank overdrafts and loans
(2,710)
(3,040)
Bank facility charges
(458)
(379)
Unwinding of discount on long-term payables
(240)
(160)
Unwinding of discount on lease liabilities
(228)
(234)
(3,636)
(3,813)
Net finance expenses
(3,495)
(3,704)
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-409": { "value": "7 Finance income and expenses
2025 2024
\u00a3000 \u00a3000
Finance income
Interest on bank deposits
63
16
Unwinding of discount on long-term receivables
3
78
Other interest income
75
15
141
109
Finance expenses
Interest on bank overdrafts and loans
(2,710)
(3,040)
Bank facility charges
(458)
(379)
Unwinding of discount on long-term payables
(240)
(160)
Unwinding of discount on lease liabilities
(228)
(234)
(3,636)
(3,813)
Net finance expenses
(3,495)
(3,704)
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-396": { "value": "7 Finance income and expenses
2025 2024
\u00a3000 \u00a3000
Finance income
Interest on bank deposits
63
16
Unwinding of discount on long-term receivables
3
78
Other interest income
75
15
141
109
Finance expenses
Interest on bank overdrafts and loans
(2,710)
(3,040)
Bank facility charges
(458)
(379)
Unwinding of discount on long-term payables
(240)
(160)
Unwinding of discount on lease liabilities
(228)
(234)
(3,636)
(3,813)
Net finance expenses
(3,495)
(3,704)
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-374": { "value": "7 Finance income and expenses
2025 2024
\u00a3000 \u00a3000
Finance income
Interest on bank deposits
63
16
Unwinding of discount on long-term receivables
3
78
Other interest income
75
15
141
109
Finance expenses
Interest on bank overdrafts and loans
(2,710)
(3,040)
Bank facility charges
(458)
(379)
Unwinding of discount on long-term payables
(240)
(160)
Unwinding of discount on lease liabilities
(228)
(234)
(3,636)
(3,813)
Net finance expenses
(3,495)
(3,704)
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-346": { "value": "
8 Tax
Group
2025 2024
Note \u00a3000 \u00a3000
Current tax
Current year expense
4,609
5,699
Adjustment in respect of prior years
(68)
(352)
Current tax expense for the year
4,541
5,347
Deferred tax
Current year expense
20
115
107
Adjustment in respect of prior years
20
65
89
Deferred tax expense for the year
180
196
Total tax charge
4,721
5,543
Corporation tax represents an effective tax rate of 23.0% of assessable profit for the year (2024: 22.3%). The applicable
UK corporation tax rate is 25.0%.
The charge for the year can be reconciled to the profit before tax per the consolidated income statement as follows:
2025
2024
Total tax charge reconciliation
Note
\u00a3000
%
\u00a3000
%
Profit before tax
20,544
24,849
Tax at current corporation tax rate
5,136
25.0
6,212
25.0
Expenses not deductible for tax purposes
50
0.2
114
0.5
Non-qualifying depreciation
120
0.6
123
0.5
Adjustments for share-based payments
180
0.9
45
0.2
Land remediation relief
(741)
(3.6)
(739)
(3.0)
Impact of change in tax rate on deferred tax
14
0.1
\u2013
\u2013
Adjustments in respect of prior years \u2013 current tax
(68)
(0.3)
(352)
(1.4)
Adjustments in respect of prior years \u2013
deferred tax
20
65
0.3
89
0.3
Residential property developers tax
\u2013
\u2013
51
0.2
Movement in deferred tax not recognised
(35)
(0.2)
\u2013
\u2013
Total tax charge and effective tax rate for
the year
4,721
23.0
5,543
22.3
The effective tax rate of 23.0% is lower than the headline tax rate of 25.0%, which is primarily driven by land
remediation relief. Further explanations are provided following the current tax reconciliation.
The current tax charge for the year can be reconciled to the profit before tax per the consolidated income statement
as follows:
2025
2024
Current tax charge reconciliation
\u00a3000
%
\u00a3000
%
Profit before tax
20,544
24,849
Tax at current corporation tax rate
5,136
25.0
6,212
25.0
Expenses not deductible for tax purposes
50
0.2
114
0.5
Non-qualifying depreciation
120
0.6
123
0.5
Adjustments for share-based payments
(6)
(0.0)
(28)
(0.1)
Land remediation relief
(741)
(3.6)
(739)
(3.0)
Impact of depreciation in excess of capital allowances
80
0.4
228
0.9
Utilisation of losses
(34)
(0.2)
\u2013
\u2013
Adjustments in respect of prior years \u2013 current tax
(68)
(0.3)
(352)
(1.4)
Short-term timing differences
4
0.0
(211)
(0.9)
Current tax charge and effective tax rate for the year
4,541
22.1
5,347
21.5
The most significant factor impacting the Group\u2019s current tax charge is land remediation relief, whereby tax relief is
granted on an additional 50% of qualifying land remediation expenditure. This is for costs incurred on remediating
contaminated land and bringing it to a safe and usable condition for the purposes of development. Many of our sites
are on brownfield land and require significant remediation prior to use. The government provides this benefit as an
incentive to remediate contaminated land. No deferred tax is recognised on this permanent benefit.
Non-deductible expenditure is a permanent difference and comprises business expenses, such as entertaining costs,
expenditure on certain leased cars and legal fees deemed capital in nature, recognised in the income statement but
not allowable as a deduction against taxable income. No deferred tax is recognised on these differences.
The current tax relief for share-based payments is lower than the cumulative IFRS 2 \u201cShare-based payment\u201d charge
for the options exercised. Deferred tax is recognised based on the likelihood of the options vesting. The anticipated tax
relief has been calculated based on the share price at the balance sheet date and apportioned for the portion of the
vesting period which has passed.
The impact of depreciation in excess of capital allowances arises where assets qualify for capital allowances in a
different period than they are depreciated for accounting purposes. A temporary timing difference is created and
deferred tax is recognised on the difference between the carrying amount of the asset and the amount deductible
for tax purposes in future years. At the balance sheet date, we had a deferred tax liability in relation to plant and
equipment due to the tax reliefs we received being more favourable in the short term compared to how they are
accounted for. This deferred tax provision will unwind each year over the useful economic lives of the assets they
relate to.
Residential property developers tax (\u201cRPDT\u201d) is charged at 4% on certain profits from residential development
activities. The additional 4% RPDT is recognised as part of the tax expense and creates a permanent difference in
excess of the headline rate of corporation tax at 25%. No RPDT was payable in the year as profits fell below the taxable
threshold. No deferred tax is recognised in relation to this permanent difference.
Short-term timing differences comprise items other than depreciation of property, plant and equipment where the
amount is included in the tax computation in a different period from when it is recognised in the income statement.
For example, accrued employer pension contributions paid after the year end. Deferred tax is recognised on
these items.
Prior period adjustments relate to estimates and judgements included in the prior year accounts in respect of tax and
subsequently adjusted when the tax computations were finalised and submitted to HMRC. Some of these differences
also relate to deferred tax, with the prior period adjustment being recognised accordingly.
Group
Company
Tax recognised on equity-settled share-based 2025 2024 2025 2024
payments
Note
\u00a3000 \u00a3000 \u00a3000 \u00a3000
Deferred tax related to equity-settled share-based
payments
20
210
284
210
24
Total tax recognised on equity-settled share-
based payments
210
284
210
24
20 Deferred tax (liabilities)/assets
Group
Short-term Share-
Plant and timing based
equipment differences payments Total
\u00a3000 \u00a3000 \u00a3000 \u00a3000
At 1 July 2023
(446)
401
842
797
Adjustment in respect of prior year
(165)
76
\u2013
(89)
Credit/(charge) to income
265
(242)
(130)
(107)
Charge to equity
\u2013
\u2013
(284)
(284)
At 30 June 2024
(346)
235
428
317
Adjustment in respect of prior year
(41)
(21)
(3)
(65)
Credit/(charge) to income
96
4
(215)
(115)
Charge to equity
\u2013
\u2013
(210)
(210)
At 30 June 2025
(291)
218
\u2013
(73)
At the balance sheet date, the Group has unrecognised tax losses of \u00a38,575,000 (2024: \u00a38,876,000) available for offset
against future profits. These relate to trapped head office costs in the ring-fenced legacy companies. Losses may be
carried forward indefinitely against future taxable trading profits. These losses have not been recognised as a deferred
tax asset as it is not considered probable that there will be suitable profits or gains available in future periods against
which they may be offset.
Deferred tax assets of \u00a3218,000 are offset by \u00a3291,000 of liabilities to arrive at a net deferred tax liability of \u00a373,000
(2024: \u00a3317,000 net deferred tax asset). Of the total deferred tax asset, \u00a3206,000 (2024: \u00a3586,000) is expected to be
recovered within 12 months of the balance sheet date.
Company
Short-term Share-
Plant and timing based
equipment differences payments Total
\u00a3000 \u00a3000 \u00a3000 \u00a3000
At 1 July 2023
2
\u2013
440
442
Adjustment in respect of prior year
\u2013
86
\u2013
86
(Charge)/credit to income
\u2013
(59)
10
(49)
Charge to equity
\u2013
\u2013
(24)
(24)
At 30 June 2024
2
27
426
455
Adjustment in respect of prior year
(1)
(13)
(1)
(15)
Charge to income
\u2013
(3)
(215)
(218)
Charge to equity
\u2013
\u2013
(210)
(210)
At 30 June 2025
1
11
\u2013
12
", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-347": { "value": "
9 Dividends
2025 2024
\u00a3000 \u00a3000
Amounts recognised as distributions to equity holders:
Interim dividend for the year ended 30 June 2025 of 4.0p (2024: 4.0p) per share
2,336
2,332
Final dividend for the year ended 30 June 2024 of 7.0p (2023: 9.0p) per share
4,088
5,248
6,424
7,580
A final dividend of 7 .0 pence per share has been proposed for the year ended 30 June 2025, equating to \u00a34 ,088,000
(2024: \u00a34,088,000). This is subject to approval by shareholders at the AGM on 14 November 2025 and has not been
recognised in these financial statements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-375": { "value": "0.07", "decimals": 3, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-376": { "value": "4088000.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwners", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-348": { "value": "
10 Earnings per share
The calculation of basic and diluted earnings per share is based on the following data:
2025 2024
\u00a3000 \u00a3000
Profit for the year
15,823
19,306
Adjustment for exceptional items (note 3)
1,343
\u2013
Adjustment for tax on exceptional items
(309)
\u2013
Profit for the year \u2013 pre-exceptional items
16,857
19,306
2025 2024
No. 000 No. 000
Number of shares
Weighted average number of ordinary shares for the purposes of basic earnings per share
58,370
58,281
Effect of dilutive potential ordinary shares:
\u2013 Share-based payments
\u2013
154
Weighted average number of ordinary shares for the purposes of diluted earnings
per share
58,370
58,435
2025 2024
pence pence
Basic earnings per share
27.11
33.13
Diluted earnings per share
27.11
33.04
Basic earnings per share \u2013 pre-exceptional items
28.88
33.13
Diluted earnings per share \u2013 pre-exceptional items
28.88
33.04
", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-349": { "value": "
11 Property, plant and equipment
Group
Company
Plant and Plant and
Property equipment Total equipment
\u00a3000 \u00a3000 \u00a3000 \u00a3000
Cost or valuation
At 1 July 2023
5,411
17,419
22,830
1
Additions
\u2013
2,039
2,039
\u2013
New leases entered in the year
583
806
1,389
\u2013
Leases exited in the year
(569)
(28)
(597)
\u2013
Disposals
\u2013
(3,829)
(3,829)
\u2013
At 30 June 2024
5,425
16,407
21,832
1
Additions
\u2013
2,045
2,045
\u2013
New leases entered in the year
953
921
1,874
\u2013
Leases exited in the year
\u2013
(650)
(650)
\u2013
Disposals
\u2013
(3,429)
(3,429)
(1)
At 30 June 2025
6,378
15,294
21,672
\u2013
Accumulated depreciation
At 1 July 2023
1,870
9,754
11,624
1
Charge for the year
650
3,971
4,621
\u2013
Leases exited in the year
(299)
(20)
(319)
\u2013
Disposals
\u2013
(3,363)
(3,363)
\u2013
At 30 June 2024
2,221
10,342
12,563
1
Charge for the year
616
3,656
4,272
\u2013
Leases exited in the year
\u2013
(643)
(643)
\u2013
Disposals
\u2013
(3,015)
(3,015)
(1)
At 30 June 2025
2,837
10,340
13,177
\u2013
Net book value
At 1 July 2023
3,541
7,665
11,206
\u2013
At 30 June 2024
3,204
6,065
9,269
\u2013
At 30 June 2025
3,541
4,954
8,495
\u2013
The Group has recorded a depreciation charge of \u00a34,272,000 (2024: \u00a34,621,000), of which \u00a3718,000 (2024: \u00a3926,000) has
been charged in cost of sales and \u00a33,554,000 (2024: \u00a33,695,000) in administrative expenses.
At 30 June 2025, the net book value of right-of-use assets was \u00a34,921,000 (2024: \u00a34,574,000), of which \u00a33,541,000 (2024:
\u00a33,204,000) is within property and \u00a31,380,000 (2024: \u00a31,370,000) is within plant and equipment. The depreciation
charge recorded for right-of-use assets was \u00a31,519,000 (2024: \u00a31,311,000). Refer to note 17 for further details.
The Company recorded a depreciation charge of \u00a3nil (2024: \u00a3nil).
", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-350": { "value": "
12 Investments in subsidiaries
Company
\u00a3000
Cost
At 1 July 2023
95,203
Impairment
(1,162)
At 30 June 2024
94,041
Impairment
\u2013
At 30 June 2025
94,041
The investments in subsidiaries are assessed annually to determine if there is any indication that any of the
investments might be impaired. Gleeson Construction Services Limited, Gleeson Developments Limited and Gleeson
Developments (North East) Ltd incurred losses during the year, which is an indicator that an impairment loss may
have occurred and, therefore, the recoverable amount of the investments was calculated.
MJ Gleeson Group Limited is the intermediate holding company of Gleeson Construction Services Limited and does
not generate revenue or incur any significant costs of its own. Gleeson Construction Services Limited manages the
unwind of historic construction and employment liability claims and does not generate any revenue, but it incurs
losses which reduce the net asset value.
The recoverable amount of MJ Gleeson Group Limited and its subsidiary, Gleeson Construction Services Limited, was
determined based on a fair value less costs of disposal calculation incorporating cash flow projections.
The recoverable amount of the investment in MJ Gleeson Group Limited was determined to be higher than its
carrying value of \u00a31,041,000, resulting in no impairment loss.
Gleeson Developments Limited and Gleeson Developments (North East) Ltd are part of the Gleeson Homes operating
division. Although the companies made losses, the division as a whole was profitable. The recoverable amounts of
Gleeson Developments Limited and Gleeson Developments (North East) Ltd were determined based on value-in-
use calculations and the recoverable amounts were determined to be higher than their respective carrying values of
\u00a312,000,000 and \u00a31,000,000, resulting in no impairment losses.
Subsidiary undertakings
The following are the principal subsidiary undertakings of MJ Gleeson plc. MJ Gleeson plc owns 100% of the ordinary
share capital of the subsidiaries, all of which are incorporated in England and Wales and operate in the United
Kingdom. The registered address for all subsidiary undertakings of MJ Gleeson plc is 6 Europa Court, Sheffield
Business Park, Sheffield, S9 1XE.
Company name
Principal activity
Incorporation number
Gleeson Developments Limited
House building
00848808
Gleeson Regeneration Limited
House building
03920096
Gleeson Developments (North East) Limited
House building
03867699
Gleeson Land Limited
Land promotion and sale
05181745
Gleeson Land (Fleet) Limited
1
Land promotion and sale
05742750
1
Shares held by Gleeson Land Limited.
The following are the other subsidiary companies of MJ Gleeson plc:
Company name
Principal activity
Incorporation number
MJ Gleeson Group Limited
Intermediate holding company
00479529
Gleeson Construction Services Limited
2
Legacy construction services
00783607
Colroy Limited
3
Dormant*
00882558
Haredon Developments Limited
3
Dormant*
00759754
Gleeson Capital Solutions Limited
Dormant*
05276021
Gleeson Classic Homes Limited
1
Dormant*
01952198
Gleeson Homes Southern Limited
1
Dormant*
01530449
Gleeson Housing Developments Limited
1
Dormant*
01460800
Gleeson PFI Investments Limited
Dormant*
05337924
Gleeson Properties Limited
Dormant*
00805039
Gleeson Properties (Kingley) Limited
3
Dormant*
05281899
Gleeson Properties (Petersfield) Limited
3
Dormant*
05075336
Gleeson Services Limited
Dormant*
00885340
KW Cannock Properties Limited
Dormant*
05899918
MJ Gleeson (International) Limited
Dormant*
00955626
MJG (Management) Limited
Dormant*
00941012
Oakmill Properties Limited
3
Dormant*
05206658
Sindale Properties Limited
1
Dormant*
04201608
1 Shares held by Gleeson Developments Limited. 2 Shares held by MJ Gleeson Group Limited. 3 Shares held by Gleeson Properties Limited. * Exempt from audit by virtue of s479A of the Companies Act 2006.", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-377": { "value": "12 Investments in subsidiaries
Company
\u00a3000
Cost
At 1 July 2023
95,203
Impairment
(1,162)
At 30 June 2024
94,041
Impairment
\u2013
At 30 June 2025
94,041
The investments in subsidiaries are assessed annually to determine if there is any indication that any of the investments might be impaired. Gleeson Construction Services Limited, Gleeson Developments Limited and Gleeson Developments (North East) Ltd incurred losses during the year, which is an indicator that an impairment loss may have occurred and, therefore, the recoverable amount of the investments was calculated. MJ Gleeson Group Limited is the intermediate holding company of Gleeson Construction Services Limited and does not generate revenue or incur any significant costs of its own. Gleeson Construction Services Limited manages the unwind of historic construction and employment liability claims and does not generate any revenue, but it incurs losses which reduce the net asset value. The recoverable amount of MJ Gleeson Group Limited and its subsidiary, Gleeson Construction Services Limited, was determined based on a fair value less costs of disposal calculation incorporating cash flow projections. The recoverable amount of the investment in MJ Gleeson Group Limited was determined to be higher than its carrying value of \u00a31,041,000, resulting in no impairment loss. Gleeson Developments Limited and Gleeson Developments (North East) Ltd are part of the Gleeson Homes operating division. Although the companies made losses, the division as a whole was profitable. The recoverable amounts of Gleeson Developments Limited and Gleeson Developments (North East) Ltd were determined based on value-in- use calculations and the recoverable amounts were determined to be higher than their respective carrying values of \u00a312,000,000 and \u00a31,000,000, resulting in no impairment losses. Subsidiary undertakings The following are the principal subsidiary undertakings of MJ Gleeson plc. MJ Gleeson plc owns 100% of the ordinary share capital of the subsidiaries, all of which are incorporated in England and Wales and operate in the United Kingdom. The registered address for all subsidiary undertakings of MJ Gleeson plc is 6 Europa Court, Sheffield Business Park, Sheffield, S9 1XE.
Company name
Principal activity
Incorporation number
Gleeson Developments Limited
House building
00848808
Gleeson Regeneration Limited
House building
03920096
Gleeson Developments (North East) Limited
House building
03867699
Gleeson Land Limited
Land promotion and sale
05181745
Gleeson Land (Fleet) Limited
1
Land promotion and sale
05742750
1 Shares held by Gleeson Land Limited.
The following are the other subsidiary companies of MJ Gleeson plc:
Company name
Principal activity
Incorporation number
MJ Gleeson Group Limited
Intermediate holding company
00479529
Gleeson Construction Services Limited
2
Legacy construction services
00783607
Colroy Limited
3
Dormant*
00882558
Haredon Developments Limited
3
Dormant*
00759754
Gleeson Capital Solutions Limited
Dormant*
05276021
Gleeson Classic Homes Limited
1
Dormant*
01952198
Gleeson Homes Southern Limited
1
Dormant*
01530449
Gleeson Housing Developments Limited
1
Dormant*
01460800
Gleeson PFI Investments Limited
Dormant*
05337924
Gleeson Properties Limited
Dormant*
00805039
Gleeson Properties (Kingley) Limited
3
Dormant*
05281899
Gleeson Properties (Petersfield) Limited
3
Dormant*
05075336
Gleeson Services Limited
Dormant*
00885340
KW Cannock Properties Limited
Dormant*
05899918
MJ Gleeson (International) Limited
Dormant*
00955626
MJG (Management) Limited
Dormant*
00941012
Oakmill Properties Limited
3
Dormant*
05206658
Sindale Properties Limited
1
Dormant*
04201608
1
Shares held by Gleeson Developments Limited.
2
Shares held by MJ Gleeson Group Limited.
3
Shares held by Gleeson Properties Limited.
* Exempt from audit by virtue of s479A of the Companies Act 2006.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-351": { "value": "
13 Inventories
2025 2024
\u00a3000 \u00a3000
Land held for development
145,849
113,801
Work in progress
234,998
231,433
380,847
345,234
Net realisable value provisions held against inventories at 30 June 2025 were \u00a36,411,000 (2024: \u00a38,380,000). The
amount of inventory write-down recognised as an expense in the period was \u00a32,130,000 (2024: \u00a34,119,000) and
the amount of reversal of previously recognised inventory write-down was \u00a3403,000 (2024: \u00a3656,000). The cost of
inventories recognised as an expense in cost of sales was \u00a3281,241,000 (2024: \u00a3259,815,000).
Company
The Company held no inventories at 30 June 2025 (2024: \u00a3nil).
", "dimensions": { "concept": "ifrs-full:DisclosureOfInventoriesExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-352": { "value": "
14 Trade and other receivables
Group
Company
2025 2024 2025 2024
Current receivables \u00a3000 \u00a3000 \u00a3000 \u00a3000
Trade receivables
11,387
5,651
\u2013
\u2013
VAT recoverable
5,029
1,443
57
37
Prepayments and accrued income
2,535
2,153
442
600
Shared equity receivables
\u2013
36
\u2013
\u2013
Amounts due from subsidiary undertakings
\u2013
\u2013
102,002
114,713
18,951
9,283
102,501
115,350
Non-current receivables
Trade receivables
3,251
176
\u2013
\u2013
Shared equity receivables
53
67
\u2013
\u2013
3,304
243
\u2013
\u2013
The Directors consider that the carrying amount of trade and other receivables approximates their fair value and
includes an allowance for impairment of trade receivables. See note 15 for the assessment of credit risk associated with
trade receivables.
Amounts due from subsidiary undertakings are unsecured, repayable on demand, and interest free. Expected credit
losses are based on the assumption that repayment of the loan is demanded at the reporting date. No allowance for
expected credit losses is deemed necessary in respect of amounts owed by Group undertakings.
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-414": { "value": "14 Trade and other receivables
Group
Company
2025 2024 2025 2024
Current receivables \u00a3000 \u00a3000 \u00a3000 \u00a3000
Trade receivables
11,387
5,651
\u2013
\u2013
VAT recoverable
5,029
1,443
57
37
Prepayments and accrued income
2,535
2,153
442
600
Shared equity receivables
\u2013
36
\u2013
\u2013
Amounts due from subsidiary undertakings
\u2013
\u2013
102,002
114,713
18,951
9,283
102,501
115,350
Non-current receivables
Trade receivables
3,251
176
\u2013
\u2013
Shared equity receivables
53
67
\u2013
\u2013
3,304
243
\u2013
\u2013
The Directors consider that the carrying amount of trade and other receivables approximates their fair value and includes an allowance for impairment of trade receivables. See note 15 for the assessment of credit risk associated with trade receivables. Amounts due from subsidiary undertakings are unsecured, repayable on demand, and interest free. Expected credit losses are based on the assumption that repayment of the loan is demanded at the reporting date. No allowance for expected credit losses is deemed necessary in respect of amounts owed by Group undertakings.", "dimensions": { "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-410": { "value": "14 Trade and other receivables
Group
Company
2025 2024 2025 2024
Current receivables \u00a3000 \u00a3000 \u00a3000 \u00a3000
Trade receivables
11,387
5,651
\u2013
\u2013
VAT recoverable
5,029
1,443
57
37
Prepayments and accrued income
2,535
2,153
442
600
Shared equity receivables
\u2013
36
\u2013
\u2013
Amounts due from subsidiary undertakings
\u2013
\u2013
102,002
114,713
18,951
9,283
102,501
115,350
Non-current receivables
Trade receivables
3,251
176
\u2013
\u2013
Shared equity receivables
53
67
\u2013
\u2013
3,304
243
\u2013
\u2013
The Directors consider that the carrying amount of trade and other receivables approximates their fair value and includes an allowance for impairment of trade receivables. See note 15 for the assessment of credit risk associated with trade receivables. Amounts due from subsidiary undertakings are unsecured, repayable on demand, and interest free. Expected credit losses are based on the assumption that repayment of the loan is demanded at the reporting date. No allowance for expected credit losses is deemed necessary in respect of amounts owed by Group undertakings.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-397": { "value": "14 Trade and other receivables
Group
Company
2025 2024 2025 2024
Current receivables \u00a3000 \u00a3000 \u00a3000 \u00a3000
Trade receivables
11,387
5,651
\u2013
\u2013
VAT recoverable
5,029
1,443
57
37
Prepayments and accrued income
2,535
2,153
442
600
Shared equity receivables
\u2013
36
\u2013
\u2013
Amounts due from subsidiary undertakings
\u2013
\u2013
102,002
114,713
18,951
9,283
102,501
115,350
Non-current receivables
Trade receivables
3,251
176
\u2013
\u2013
Shared equity receivables
53
67
\u2013
\u2013
3,304
243
\u2013
\u2013
The Directors consider that the carrying amount of trade and other receivables approximates their fair value and includes an allowance for impairment of trade receivables. See note 15 for the assessment of credit risk associated with trade receivables. Amounts due from subsidiary undertakings are unsecured, repayable on demand, and interest free. Expected credit losses are based on the assumption that repayment of the loan is demanded at the reporting date. No allowance for expected credit losses is deemed necessary in respect of amounts owed by Group undertakings.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-378": { "value": "14 Trade and other receivables
Group
Company
2025 2024 2025 2024
Current receivables \u00a3000 \u00a3000 \u00a3000 \u00a3000
Trade receivables
11,387
5,651
\u2013
\u2013
VAT recoverable
5,029
1,443
57
37
Prepayments and accrued income
2,535
2,153
442
600
Shared equity receivables
\u2013
36
\u2013
\u2013
Amounts due from subsidiary undertakings
\u2013
\u2013
102,002
114,713
18,951
9,283
102,501
115,350
Non-current receivables
Trade receivables
3,251
176
\u2013
\u2013
Shared equity receivables
53
67
\u2013
\u2013
3,304
243
\u2013
\u2013
The Directors consider that the carrying amount of trade and other receivables approximates their fair value and includes an allowance for impairment of trade receivables. See note 15 for the assessment of credit risk associated with trade receivables. Amounts due from subsidiary undertakings are unsecured, repayable on demand, and interest free. Expected credit losses are based on the assumption that repayment of the loan is demanded at the reporting date. No allowance for expected credit losses is deemed necessary in respect of amounts owed by Group undertakings.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-379": { "value": "
15 Financial instruments
The Group and Company's finance assets and liabilities are as follows:
Group
Fair value
Carrying value
2025 2024 2025 2024
Financial assets \u00a3000 \u00a3000 \u00a3000 \u00a3000
Cash and cash equivalents
6,490
12,934
6,490
12,934
Trade and other receivables
14,638
5,827
14,638
5,827
Shared equity receivables
53
103
53
103
21,181
18,864
21,181
18,864
Fair value
Carrying value
2025 2024 2025 2024
Financial liabilities \u00a3000 \u00a3000 \u00a3000 \u00a3000
Loans and borrowings
(5,000)
\u2013
(5,000)
\u2013
Bank overdrafts
(2,269)
\u2013
(2,269)
\u2013
Land payables
(20,488)
(9,300)
(20,488)
(9,300)
Trade and other payables
(62,664)
(50,547)
(62,664)
(50,547)
Lease liabilities
(5,390)
(5,076)
(5,390)
(5,076)
(95,811)
(64,923)
(95,811)
(64,923)
Company
Fair value
Carrying value
2025 2024 2025 2024
Financial assets \u00a3000 \u00a3000 \u00a3000 \u00a3000
Cash and cash equivalents
30
1,056
30
1,056
Amounts due from subsidiary undertakings
102,002
114,713
102,002
114,713
102,032
115,769
102,032
115,769
Fair value
Carrying value
2025 2024 2025 2024
Financial liabilities \u00a3000 \u00a3000 \u00a3000 \u00a3000
Loans and borrowings
(5,000)
\u2013
(5,000)
\u2013
Trade and other payables
(581)
(1,145)
(581)
(1,145)
Amounts due to subsidiary undertakings
(139,819)
(145,274)
(139,819)
(145,274)
(145,400)
(146,419)
(145,400)
(146,419)
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-353": { "value": "15 Financial instruments The Group and Company's finance assets and liabilities are as follows: Group
Fair value
Carrying value
2025 2024 2025 2024
Financial assets \u00a3000 \u00a3000 \u00a3000 \u00a3000
Cash and cash equivalents
6,490
12,934
6,490
12,934
Trade and other receivables
14,638
5,827
14,638
5,827
Shared equity receivables
53
103
53
103
21,181
18,864
21,181
18,864
Fair value
Carrying value
2025 2024 2025 2024
Financial liabilities \u00a3000 \u00a3000 \u00a3000 \u00a3000
Loans and borrowings
(5,000)
\u2013
(5,000)
\u2013
Bank overdrafts
(2,269)
\u2013
(2,269)
\u2013
Land payables
(20,488)
(9,300)
(20,488)
(9,300)
Trade and other payables
(62,664)
(50,547)
(62,664)
(50,547)
Lease liabilities
(5,390)
(5,076)
(5,390)
(5,076)
(95,811)
(64,923)
(95,811)
(64,923)
Company
Fair value
Carrying value
2025 2024 2025 2024
Financial assets \u00a3000 \u00a3000 \u00a3000 \u00a3000
Cash and cash equivalents
30
1,056
30
1,056
Amounts due from subsidiary undertakings
102,002
114,713
102,002
114,713
102,032
115,769
102,032
115,769
Fair value
Carrying value
2025 2024 2025 2024
Financial liabilities \u00a3000 \u00a3000 \u00a3000 \u00a3000
Loans and borrowings
(5,000)
\u2013
(5,000)
\u2013
Trade and other payables
(581)
(1,145)
(581)
(1,145)
Amounts due to subsidiary undertakings
(139,819)
(145,274)
(139,819)
(145,274)
(145,400)
(146,419)
(145,400)
(146,419)
Fair values Shared equity receivables are measured at fair value through other comprehensive income (\"FVOCI\"). The total fair value movement recognised in other comprehensive income was \u00a367,000 (2024: \u00a3171,000). Loans and borrowings
Group and Company
2025 2024
\u00a3000 \u00a3000
Revolving credit facility
5,000
\u2013
5,000
\u2013
The Directors consider that the carrying amount of loans and borrowings approximates their fair value. The Group has a revolving credit facility with Lloyds Bank plc and Santander UK plc. The facility has a limit of \u00a3135m, which includes a \u00a310m overdraft facility. The facility currently expires in October 2027 and has a one year uncommitted extension option provided by both banks. The Company, together with certain other companies in the Group, has given cross guarantees in respect of the bank facilities available to Group undertakings in the normal course of business. At 30 June 2025, borrowings covered by these guarantees amounted to \u00a35,000,000 (2024: \u00a3nil) and are due in under one year. These borrowings are secured by a fixed and floating charge over the assets of the Group, and are for a fixed term. Repayment is due at the end of the fixed term unless the borrowings are extended for a further period of time. Financial instrument risks RISK EXPOSURE The Company operates a central treasury function providing services to the Group. The treasury function arranges loans and funding, invests any surplus liquidity and manages financial risk. The treasury function is not a profit centre and no speculative trades are permitted or executed. It operates within specific policies, agreed by the Board, to control and monitor financial risk within the Group. CREDIT RISK The Group's credit risk is primarily attributable to its trade and other receivables. The Group applies a simplified approach in calculating expected credit losses. The Group does not track changes in credit risk, but instead recognises a loss allowance based on lifetime expected credit losses at each reporting date. The expected credit loss is based on the risk of default estimated by the Group\u2019s management based on prior experience, forward-looking assessments of the economic environment and relative counterparty risk. For this purpose, a default is determined to have occurred if the Group becomes aware of evidence that it will not receive all contractual cash flows that are due. The Directors consider that the carrying value of trade and other receivables approximates to their fair value and no expected credit loss is recognised. The credit risk on cash and cash equivalents is limited because the counterparties are banks with high credit ratings assigned by international credit rating agencies. At 30 June 2025, the Group's most significant credit risk was with a housebuilder and amounted to \u00a36,240,000 (2024: \u00a31,553,000) of the trade and other receivables carrying amount, with the deferred receivables secured by way of first legal charge over the land. The fair value of any land held as security is considered by the Board to be sufficient in relation to the carrying amount of the receivable to which it relates. The Group's remaining credit risk is spread over a number of counterparties and customers. The ageing of gross trade receivables at the reporting date was:
Group
Company
2025 2024 2025 2024
\u00a3000 \u00a3000 \u00a3000 \u00a3000
Not past due
14,610
5,848
\u2013
\u2013
Past due 0\u201330 days
1
36
\u2013
\u2013
Past due 31\u2013120 days
\u2013
\u2013
\u2013
\u2013
Past due 121\u2013365 days
2
2
\u2013
\u2013
Past due more than one year
290
19
\u2013
\u2013
14,903
5,905
\u2013
\u2013
All trade receivables are with UK customers. The amounts due are included at expected realisable value. Included in trade receivables not past due are \u00a33,251,000 (2024: \u00a3176,000) receivables due in more than one year. In addition to the above, the Company has intercompany receivables which are repayable on demand. The movement in the allowance for impairment of trade receivables during the year was as follows:
Group
Company
2025 2024 2025 2024
\u00a3000 \u00a3000 \u00a3000 \u00a3000
Balance at 1 July
78
475
\u2013
\u2013
Impairment loss recognised
11
45
\u2013
\u2013
Release of impairment allowance
(28)
(442)
\u2013
\u2013
Balance at 30 June
61
78
\u2013
\u2013
Trade and other receivables deemed to have no reasonable expectation of recovery following unsuccessful attempts to pursue the debt are written off in the financial statements, but are still subject to enforcement activity. Subsequent recoveries of amounts previously written off are credited to the income statement . Market risk The Group has no significant exposure to foreign currency risk or equity risk. Interest rate risk The Group closely monitors its exposure to variations in interest rates. The Group's main interest rate risk arises from bank borrowings with variable rates.
Weighted average
interest rate
2025 2024
% %
Bank borrowings
6.71
7.72
Bank overdraft
6.68
7.23
Based on average borrowings during the year, a 1.5% increase in interest rates, which the Directors consider to be a reasonably possible change, would affect profit before tax by \u00a3399,000 (2024: \u00a3452,000). Liquidity risk Liquidity risk is the risk that the Group does not have sufficient financial resources available to meet its obligations as they fall due. The Group manages liquidity risk by monitoring forecast and actual cash flows and matching the expected cash flow timings of financial assets and liabilities with the use of cash and cash equivalents, and loans and borrowings. As noted above, the Group has a committed facility with Lloyds Bank plc and Santander UK plc with a facility limit of \u00a3135m. The facility has been extended by one year and will expire in October 2027 but has a further one year optional extension provided by both banks. At the balance sheet date, the total unused committed amount of the facility was \u00a3127,731,000 (2024: \u00a3135,000,000) and cash and cash equivalents net of bank overdrafts held by the Group were \u00a34,221,000 (2024: \u00a312,934,000). The following are the contractual maturities of financial liabilities, including estimated interest payments and excluding the impact of netting agreements: Non-derivative financial liabilities GROUP
On
Undiscounted demand More
Carrying contractual or within 6 6\u201312 1\u20132 2\u20135 than
amount cash flows months months years years 5 years
30 June 2025 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000
Loans and borrowings
5,000
5,000
5,000
\u2013
\u2013
\u2013
\u2013
Bank overdrafts
2,269
2,269
2,269
\u2013
\u2013
\u2013
\u2013
Trade and other payables
83,152
84,343
70,684
4,706
4,953
4,000
\u2013
Lease liabilities
5,390
6,062
1,031
898
1,328
1,891
914
95,811
97,674
78,984
5,604
6,281
5,891
914
Undiscounted On demand More
Carrying contractual or within 6 6\u201312 1\u20132 2\u20135 than 5
amount cash flows months months years years years
30 June 2024 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000
Trade and other payables
59,847
59,984
53,524
3,328
2,240
892
\u2013
Lease liabilities
5,076
5,749
803
792
1,215
1,596
1,343
64,923
65,733
54,327
4,120
3,455
2,488
1,343
Company
The non-derivative financial liabilities of the Company in the current and prior year are predominantly intercompany
balances that are payable on demand. The external balances are payable within six months.
Capital risk management
In line with the disclosure requirements of IAS 1 \"Presentation of financial statements\", the Group regards its capital as
being the equity as shown in the statement of changes in equity.
Note 23 to the financial statements provides details regarding the Company's share capital movements in the year.
The primary objective of the Group's capital management is to ensure that it maintains investor, creditor and market
confidence and to support its business and maximise shareholder value.
The Group manages its capital structure and makes adjustments in light of changes in economic conditions. To
maintain or adjust the capital structure, the Group may adjust the dividend payment to shareholders and issue or
return capital to shareholders.
Neither the Company nor any of the subsidiaries are subject to externally imposed capital requirements.
21 Net cash/(debt)
Group
Company
2025 2024 2025 2024
\u00a3000 \u00a3000 \u00a3000 \u00a3000
Cash and cash equivalents
6,490
12,934
30
1,056
Bank overdrafts
(2,269)
\u2013
\u2013
\u2013
Cash and cash equivalents, net of bank overdrafts
4,221
12,934
30
1,056
Borrowings
(5,000)
\u2013
(5,000)
\u2013
Net (debt)/cash before lease liabilities
(779)
12,934
(4,970)
1,056
Lease liabilities
(5,390)
(5,076)
\u2013
\u2013
Net (debt)/cash
(6,169)
7,858
(4,970)
1,056
At 30 June 2025, monies held by solicitors on behalf of the Group and included within cash and cash equivalents were
\u00a36,490,000 (2024: \u00a32,253,000).
No monies were held by solicitors on behalf of the Company at the balance sheet date (2024: \u00a3nil).
Cash
and cash
equivalents,
net of bank Cash net of Lease
overdrafts Borrowings borrowings liabilities Total
\u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000
Net cash/(debt) at 1 July 2023
5,159
\u2013
5,159
(5,144)
15
Cash flows
7,775
\u2013
7,775
1,430
9,205
New leases
\u2013
\u2013
\u2013
(1,389)
(1,389)
Leases exited in the year
\u2013
\u2013
\u2013
261
261
Finance expenses
\u2013
\u2013
\u2013
(234)
(234)
Net cash/(debt) at 30 June 2024
12,934
\u2013
12,934
(5,076)
7,858
Cash flows
(8,713)
(5,000)
(13,713)
1,781
(11,932)
New leases
\u2013
\u2013
\u2013
(1,874)
(1,874)
Leases exited in the year
\u2013
\u2013
\u2013
7
7
Finance expenses
\u2013
\u2013
\u2013
(228)
(228)
Net cash/(debt) at 30 June 2025
4,221
(5,000)
(779)
(5,390)
(6,169)
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-398": { "value": "15 Financial instruments The Group and Company's finance assets and liabilities are as follows: Group
Fair value
Carrying value
2025 2024 2025 2024
Financial assets \u00a3000 \u00a3000 \u00a3000 \u00a3000
Cash and cash equivalents
6,490
12,934
6,490
12,934
Trade and other receivables
14,638
5,827
14,638
5,827
Shared equity receivables
53
103
53
103
21,181
18,864
21,181
18,864
Fair value
Carrying value
2025 2024 2025 2024
Financial liabilities \u00a3000 \u00a3000 \u00a3000 \u00a3000
Loans and borrowings
(5,000)
\u2013
(5,000)
\u2013
Bank overdrafts
(2,269)
\u2013
(2,269)
\u2013
Land payables
(20,488)
(9,300)
(20,488)
(9,300)
Trade and other payables
(62,664)
(50,547)
(62,664)
(50,547)
Lease liabilities
(5,390)
(5,076)
(5,390)
(5,076)
(95,811)
(64,923)
(95,811)
(64,923)
Company
Fair value
Carrying value
2025 2024 2025 2024
Financial assets \u00a3000 \u00a3000 \u00a3000 \u00a3000
Cash and cash equivalents
30
1,056
30
1,056
Amounts due from subsidiary undertakings
102,002
114,713
102,002
114,713
102,032
115,769
102,032
115,769
Fair value
Carrying value
2025 2024 2025 2024
Financial liabilities \u00a3000 \u00a3000 \u00a3000 \u00a3000
Loans and borrowings
(5,000)
\u2013
(5,000)
\u2013
Trade and other payables
(581)
(1,145)
(581)
(1,145)
Amounts due to subsidiary undertakings
(139,819)
(145,274)
(139,819)
(145,274)
(145,400)
(146,419)
(145,400)
(146,419)
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-417": { "value": "Group
Fair value
Carrying value
2025 2024 2025 2024
Financial assets \u00a3000 \u00a3000 \u00a3000 \u00a3000
Cash and cash equivalents
6,490
12,934
6,490
12,934
Trade and other receivables
14,638
5,827
14,638
5,827
Shared equity receivables
53
103
53
103
21,181
18,864
21,181
18,864
Fair value
Carrying value
2025 2024 2025 2024
Financial liabilities \u00a3000 \u00a3000 \u00a3000 \u00a3000
Loans and borrowings
(5,000)
\u2013
(5,000)
\u2013
Bank overdrafts
(2,269)
\u2013
(2,269)
\u2013
Land payables
(20,488)
(9,300)
(20,488)
(9,300)
Trade and other payables
(62,664)
(50,547)
(62,664)
(50,547)
Lease liabilities
(5,390)
(5,076)
(5,390)
(5,076)
(95,811)
(64,923)
(95,811)
(64,923)
Company
Fair value
Carrying value
2025 2024 2025 2024
Financial assets \u00a3000 \u00a3000 \u00a3000 \u00a3000
Cash and cash equivalents
30
1,056
30
1,056
Amounts due from subsidiary undertakings
102,002
114,713
102,002
114,713
102,032
115,769
102,032
115,769
Fair value
Carrying value
2025 2024 2025 2024
Financial liabilities \u00a3000 \u00a3000 \u00a3000 \u00a3000
Loans and borrowings
(5,000)
\u2013
(5,000)
\u2013
Trade and other payables
(581)
(1,145)
(581)
(1,145)
Amounts due to subsidiary undertakings
(139,819)
(145,274)
(139,819)
(145,274)
(145,400)
(146,419)
(145,400)
(146,419)
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-380": { "value": "
Fair values
Shared equity receivables are measured at fair value through other comprehensive income (\"FVOCI\"). The total fair
value movement recognised in other comprehensive income was \u00a367,000 (2024: \u00a3171,000).
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-399": { "value": "Fair values Shared equity receivables are measured at fair value through other comprehensive income (\"FVOCI\"). The total fair value movement recognised in other comprehensive income was \u00a367,000 (2024: \u00a3171,000). ", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-381": { "value": "
Loans and borrowings
Group and Company
2025 2024
\u00a3000 \u00a3000
Revolving credit facility
5,000
\u2013
5,000
\u2013
The Directors consider that the carrying amount of loans and borrowings approximates their fair value.
The Group has a revolving credit facility with Lloyds Bank plc and Santander UK plc. The facility has a limit of \u00a3135m,
which includes a \u00a310m overdraft facility. The facility currently expires in October 2027 and has a one year uncommitted
extension option provided by both banks.
The Company, together with certain other companies in the Group, has given cross guarantees in respect of the bank
facilities available to Group undertakings in the normal course of business. At 30 June 2025, borrowings covered by
these guarantees amounted to \u00a35,000,000 (2024: \u00a3nil) and are due in under one year.
These borrowings are secured by a fixed and floating charge over the assets of the Group, and are for a fixed term.
Repayment is due at the end of the fixed term unless the borrowings are extended for a further period of time.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-382": { "value": "
Financial instrument risks
RISK EXPOSURE
The Company operates a central treasury function providing services to the Group. The treasury function arranges
loans and funding, invests any surplus liquidity and manages financial risk. The treasury function is not a profit centre
and no speculative trades are permitted or executed. It operates within specific policies, agreed by the Board, to
control and monitor financial risk within the Group.
CREDIT RISK
The Group's credit risk is primarily attributable to its trade and other receivables. The Group applies a simplified
approach in calculating expected credit losses. The Group does not track changes in credit risk, but instead recognises
a loss allowance based on lifetime expected credit losses at each reporting date. The expected credit loss is based on
the risk of default estimated by the Group\u2019s management based on prior experience, forward-looking assessments of
the economic environment and relative counterparty risk. For this purpose, a default is determined to have occurred
if the Group becomes aware of evidence that it will not receive all contractual cash flows that are due. The Directors
consider that the carrying value of trade and other receivables approximates to their fair value and no expected credit
loss is recognised.
The credit risk on cash and cash equivalents is limited because the counterparties are banks with high credit ratings
assigned by international credit rating agencies.
At 30 June 2025, the Group's most significant credit risk was with a housebuilder and amounted to \u00a36,240,000 (2024:
\u00a31,553,000) of the trade and other receivables carrying amount, with the deferred receivables secured by way of first
legal charge over the land. The fair value of any land held as security is considered by the Board to be sufficient in
relation to the carrying amount of the receivable to which it relates.
The Group's remaining credit risk is spread over a number of counterparties and customers.
The ageing of gross trade receivables at the reporting date was:
Group
Company
2025 2024 2025 2024
\u00a3000 \u00a3000 \u00a3000 \u00a3000
Not past due
14,610
5,848
\u2013
\u2013
Past due 0\u201330 days
1
36
\u2013
\u2013
Past due 31\u2013120 days
\u2013
\u2013
\u2013
\u2013
Past due 121\u2013365 days
2
2
\u2013
\u2013
Past due more than one year
290
19
\u2013
\u2013
14,903
5,905
\u2013
\u2013
All trade receivables are with UK customers. The amounts due are included at expected realisable value.
Included in trade receivables not past due are \u00a33,251,000 (2024: \u00a3176,000) receivables due in more than one year.
In addition to the above, the Company has intercompany receivables which are repayable on demand.
The movement in the allowance for impairment of trade receivables during the year was as follows:
Group
Company
2025 2024 2025 2024
\u00a3000 \u00a3000 \u00a3000 \u00a3000
Balance at 1 July
78
475
\u2013
\u2013
Impairment loss recognised
11
45
\u2013
\u2013
Release of impairment allowance
(28)
(442)
\u2013
\u2013
Balance at 30 June
61
78
\u2013
\u2013
Trade and other receivables deemed to have no reasonable expectation of recovery following unsuccessful attempts
to pursue the debt are written off in the financial statements, but are still subject to enforcement activity. Subsequent
recoveries of amounts previously written off are credited to the income statement .
Market risk
The Group has no significant exposure to foreign currency risk or equity risk.
Interest rate risk
The Group closely monitors its exposure to variations in interest rates. The Group's main interest rate risk arises from
bank borrowings with variable rates.
Weighted average
interest rate
2025 2024
% %
Bank borrowings
6.71
7.72
Bank overdraft
6.68
7.23
Based on average borrowings during the year, a 1.5% increase in interest rates, which the Directors consider to be a
reasonably possible change, would affect profit before tax by \u00a3399,000 (2024: \u00a3452,000).
Liquidity risk
Liquidity risk is the risk that the Group does not have sufficient financial resources available to meet its obligations
as they fall due. The Group manages liquidity risk by monitoring forecast and actual cash flows and matching the
expected cash flow timings of financial assets and liabilities with the use of cash and cash equivalents, and loans and
borrowings.
As noted above, the Group has a committed facility with Lloyds Bank plc and Santander UK plc with a facility limit of
\u00a3135m. The facility has been extended by one year and will expire in October 2027 but has a further one year optional
extension provided by both banks.
At the balance sheet date, the total unused committed amount of the facility was \u00a3127,731,000 (2024: \u00a3135,000,000)
and cash and cash equivalents net of bank overdrafts held by the Group were \u00a34,221,000 (2024: \u00a312,934,000).
The following are the contractual maturities of financial liabilities, including estimated interest payments and
excluding the impact of netting agreements:
Non-derivative financial liabilities
GROUP
On
Undiscounted demand More
Carrying contractual or within 6 6\u201312 1\u20132 2\u20135 than
amount cash flows months months years years 5 years
30 June 2025 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000
Loans and borrowings
5,000
5,000
5,000
\u2013
\u2013
\u2013
\u2013
Bank overdrafts
2,269
2,269
2,269
\u2013
\u2013
\u2013
\u2013
Trade and other payables
83,152
84,343
70,684
4,706
4,953
4,000
\u2013
Lease liabilities
5,390
6,062
1,031
898
1,328
1,891
914
95,811
97,674
78,984
5,604
6,281
5,891
914
Undiscounted On demand More
Carrying contractual or within 6 6\u201312 1\u20132 2\u20135 than 5
amount cash flows months months years years years
30 June 2024 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000
Trade and other payables
59,847
59,984
53,524
3,328
2,240
892
\u2013
Lease liabilities
5,076
5,749
803
792
1,215
1,596
1,343
64,923
65,733
54,327
4,120
3,455
2,488
1,343
Company The non-derivative financial liabilities of the Company in the current and prior year are predominantly intercompany balances that are payable on demand. The external balances are payable within six months. Capital risk management In line with the disclosure requirements of IAS 1 \"Presentation of financial statements\", the Group regards its capital as being the equity as shown in the statement of changes in equity. Note 23 to the financial statements provides details regarding the Company's share capital movements in the year. The primary objective of the Group's capital management is to ensure that it maintains investor, creditor and market confidence and to support its business and maximise shareholder value. The Group manages its capital structure and makes adjustments in light of changes in economic conditions. To maintain or adjust the capital structure, the Group may adjust the dividend payment to shareholders and issue or return capital to shareholders. Neither the Company nor any of the subsidiaries are subject to externally imposed capital requirements. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-400": { "value": "CREDIT RISK The Group's credit risk is primarily attributable to its trade and other receivables. The Group applies a simplified approach in calculating expected credit losses. The Group does not track changes in credit risk, but instead recognises a loss allowance based on lifetime expected credit losses at each reporting date. The expected credit loss is based on the risk of default estimated by the Group\u2019s management based on prior experience, forward-looking assessments of the economic environment and relative counterparty risk. For this purpose, a default is determined to have occurred if the Group becomes aware of evidence that it will not receive all contractual cash flows that are due. The Directors consider that the carrying value of trade and other receivables approximates to their fair value and no expected credit loss is recognised. The credit risk on cash and cash equivalents is limited because the counterparties are banks with high credit ratings assigned by international credit rating agencies. At 30 June 2025, the Group's most significant credit risk was with a housebuilder and amounted to \u00a36,240,000 (2024: \u00a31,553,000) of the trade and other receivables carrying amount, with the deferred receivables secured by way of first legal charge over the land. The fair value of any land held as security is considered by the Board to be sufficient in relation to the carrying amount of the receivable to which it relates. The Group's remaining credit risk is spread over a number of counterparties and customers. The ageing of gross trade receivables at the reporting date was:
Group
Company
2025 2024 2025 2024
\u00a3000 \u00a3000 \u00a3000 \u00a3000
Not past due
14,610
5,848
\u2013
\u2013
Past due 0\u201330 days
1
36
\u2013
\u2013
Past due 31\u2013120 days
\u2013
\u2013
\u2013
\u2013
Past due 121\u2013365 days
2
2
\u2013
\u2013
Past due more than one year
290
19
\u2013
\u2013
14,903
5,905
\u2013
\u2013
All trade receivables are with UK customers. The amounts due are included at expected realisable value. Included in trade receivables not past due are \u00a33,251,000 (2024: \u00a3176,000) receivables due in more than one year. In addition to the above, the Company has intercompany receivables which are repayable on demand. The movement in the allowance for impairment of trade receivables during the year was as follows:
Group
Company
2025 2024 2025 2024
\u00a3000 \u00a3000 \u00a3000 \u00a3000
Balance at 1 July
78
475
\u2013
\u2013
Impairment loss recognised
11
45
\u2013
\u2013
Release of impairment allowance
(28)
(442)
\u2013
\u2013
Balance at 30 June
61
78
\u2013
\u2013
Trade and other receivables deemed to have no reasonable expectation of recovery following unsuccessful attempts to pursue the debt are written off in the financial statements, but are still subject to enforcement activity. Subsequent recoveries of amounts previously written off are credited to the income statement . ", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-411": { "value": "The ageing of gross trade receivables at the reporting date was:
Group
Company
2025 2024 2025 2024
\u00a3000 \u00a3000 \u00a3000 \u00a3000
Not past due
14,610
5,848
\u2013
\u2013
Past due 0\u201330 days
1
36
\u2013
\u2013
Past due 31\u2013120 days
\u2013
\u2013
\u2013
\u2013
Past due 121\u2013365 days
2
2
\u2013
\u2013
Past due more than one year
290
19
\u2013
\u2013
14,903
5,905
\u2013
\u2013
All trade receivables are with UK customers. The amounts due are included at expected realisable value. Included in trade receivables not past due are \u00a33,251,000 (2024: \u00a3176,000) receivables due in more than one year. In addition to the above, the Company has intercompany receivables which are repayable on demand. The movement in the allowance for impairment of trade receivables during the year was as follows:
Group
Company
2025 2024 2025 2024
\u00a3000 \u00a3000 \u00a3000 \u00a3000
Balance at 1 July
78
475
\u2013
\u2013
Impairment loss recognised
11
45
\u2013
\u2013
Release of impairment allowance
(28)
(442)
\u2013
\u2013
Balance at 30 June
61
78
\u2013
\u2013
Trade and other receivables deemed to have no reasonable expectation of recovery following unsuccessful attempts to pursue the debt are written off in the financial statements, but are still subject to enforcement activity. Subsequent recoveries of amounts previously written off are credited to the income statement ", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-401": { "value": "Market risk The Group has no significant exposure to foreign currency risk or equity risk. Interest rate risk The Group closely monitors its exposure to variations in interest rates. The Group's main interest rate risk arises from bank borrowings with variable rates.
Weighted average
interest rate
2025 2024
% %
Bank borrowings
6.71
7.72
Bank overdraft
6.68
7.23
Based on average borrowings during the year, a 1.5% increase in interest rates, which the Directors consider to be a reasonably possible change, would affect profit before tax by \u00a3399,000 (2024: \u00a3452,000). ", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-402": { "value": "Liquidity risk Liquidity risk is the risk that the Group does not have sufficient financial resources available to meet its obligations as they fall due. The Group manages liquidity risk by monitoring forecast and actual cash flows and matching the expected cash flow timings of financial assets and liabilities with the use of cash and cash equivalents, and loans and borrowings. As noted above, the Group has a committed facility with Lloyds Bank plc and Santander UK plc with a facility limit of \u00a3135m. The facility has been extended by one year and will expire in October 2027 but has a further one year optional extension provided by both banks. At the balance sheet date, the total unused committed amount of the facility was \u00a3127,731,000 (2024: \u00a3135,000,000) and cash and cash equivalents net of bank overdrafts held by the Group were \u00a34,221,000 (2024: \u00a312,934,000). The following are the contractual maturities of financial liabilities, including estimated interest payments and excluding the impact of netting agreements: Non-derivative financial liabilities GROUP
On
Undiscounted demand More
Carrying contractual or within 6 6\u201312 1\u20132 2\u20135 than
amount cash flows months months years years 5 years
30 June 2025 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000
Loans and borrowings
5,000
5,000
5,000
\u2013
\u2013
\u2013
\u2013
Bank overdrafts
2,269
2,269
2,269
\u2013
\u2013
\u2013
\u2013
Trade and other payables
83,152
84,343
70,684
4,706
4,953
4,000
\u2013
Lease liabilities
5,390
6,062
1,031
898
1,328
1,891
914
95,811
97,674
78,984
5,604
6,281
5,891
914
Undiscounted On demand More
Carrying contractual or within 6 6\u201312 1\u20132 2\u20135 than 5
amount cash flows months months years years years
30 June 2024 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000
Trade and other payables
59,847
59,984
53,524
3,328
2,240
892
\u2013
Lease liabilities
5,076
5,749
803
792
1,215
1,596
1,343
64,923
65,733
54,327
4,120
3,455
2,488
1,343
Company The non-derivative financial liabilities of the Company in the current and prior year are predominantly intercompany balances that are payable on demand. The external balances are payable within six months. ", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-403": { "value": "Capital risk management In line with the disclosure requirements of IAS 1 \"Presentation of financial statements\", the Group regards its capital as being the equity as shown in the statement of changes in equity. Note 23 to the financial statements provides details regarding the Company's share capital movements in the year. The primary objective of the Group's capital management is to ensure that it maintains investor, creditor and market confidence and to support its business and maximise shareholder value. The Group manages its capital structure and makes adjustments in light of changes in economic conditions. To maintain or adjust the capital structure, the Group may adjust the dividend payment to shareholders and issue or return capital to shareholders. Neither the Company nor any of the subsidiaries are subject to externally imposed capital requirements. ", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-354": { "value": "
16 Trade and other payables
Group
Company
2025 2024 2025 2024
Current payables \u00a3000 \u00a3000 \u00a3000 \u00a3000
Trade payables
17,705
16,472
57
127
Land payables
12,663
6,167
\u2013
\u2013
Lease liabilities
1,928
1,595
\u2013
\u2013
Other taxation and social security
2,567
2,285
88
73
Contract liabilities
6,937
1,137
\u2013
\u2013
Accruals and deferred income
38,022
32,938
524
1,018
Amounts due to subsidiary undertakings
\u2013
\u2013
139,819
145,274
79,822
60,594
140,488
146,492
Non-current payables
Land payables
7,825
3,133
\u2013
\u2013
Lease liabilities
3,462
3,481
\u2013
\u2013
11,287
6,614
\u2013
\u2013
Amounts due to subsidiary undertakings are unsecured, repayable on demand, and interest free.
Contract liabilities relate to customer deposits and exchange monies that have not yet met the performance
obligations to be classified as revenue. Of the prior year balance \u00a3811,000 (2024: \u00a31,089,000) has been recognised in
revenue in the current year as the performance obligations were met.
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-415": { "value": "16 Trade and other payables
Group
Company
2025 2024 2025 2024
Current payables \u00a3000 \u00a3000 \u00a3000 \u00a3000
Trade payables
17,705
16,472
57
127
Land payables
12,663
6,167
\u2013
\u2013
Lease liabilities
1,928
1,595
\u2013
\u2013
Other taxation and social security
2,567
2,285
88
73
Contract liabilities
6,937
1,137
\u2013
\u2013
Accruals and deferred income
38,022
32,938
524
1,018
Amounts due to subsidiary undertakings
\u2013
\u2013
139,819
145,274
79,822
60,594
140,488
146,492
Non-current payables
Land payables
7,825
3,133
\u2013
\u2013
Lease liabilities
3,462
3,481
\u2013
\u2013
11,287
6,614
\u2013
\u2013
Amounts due to subsidiary undertakings are unsecured, repayable on demand, and interest free. Contract liabilities relate to customer deposits and exchange monies that have not yet met the performance obligations to be classified as revenue. Of the prior year balance \u00a3811,000 (2024: \u00a31,089,000) has been recognised in revenue in the current year as the performance obligations were met.", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-412": { "value": "16 Trade and other payables
Group
Company
2025 2024 2025 2024
Current payables \u00a3000 \u00a3000 \u00a3000 \u00a3000
Trade payables
17,705
16,472
57
127
Land payables
12,663
6,167
\u2013
\u2013
Lease liabilities
1,928
1,595
\u2013
\u2013
Other taxation and social security
2,567
2,285
88
73
Contract liabilities
6,937
1,137
\u2013
\u2013
Accruals and deferred income
38,022
32,938
524
1,018
Amounts due to subsidiary undertakings
\u2013
\u2013
139,819
145,274
79,822
60,594
140,488
146,492
Non-current payables
Land payables
7,825
3,133
\u2013
\u2013
Lease liabilities
3,462
3,481
\u2013
\u2013
11,287
6,614
\u2013
\u2013
Amounts due to subsidiary undertakings are unsecured, repayable on demand, and interest free. Contract liabilities relate to customer deposits and exchange monies that have not yet met the performance obligations to be classified as revenue. Of the prior year balance \u00a3811,000 (2024: \u00a31,089,000) has been recognised in revenue in the current year as the performance obligations were met.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-404": { "value": "16 Trade and other payables
Group
Company
2025 2024 2025 2024
Current payables \u00a3000 \u00a3000 \u00a3000 \u00a3000
Trade payables
17,705
16,472
57
127
Land payables
12,663
6,167
\u2013
\u2013
Lease liabilities
1,928
1,595
\u2013
\u2013
Other taxation and social security
2,567
2,285
88
73
Contract liabilities
6,937
1,137
\u2013
\u2013
Accruals and deferred income
38,022
32,938
524
1,018
Amounts due to subsidiary undertakings
\u2013
\u2013
139,819
145,274
79,822
60,594
140,488
146,492
Non-current payables
Land payables
7,825
3,133
\u2013
\u2013
Lease liabilities
3,462
3,481
\u2013
\u2013
11,287
6,614
\u2013
\u2013
Amounts due to subsidiary undertakings are unsecured, repayable on demand, and interest free. Contract liabilities relate to customer deposits and exchange monies that have not yet met the performance obligations to be classified as revenue. Of the prior year balance \u00a3811,000 (2024: \u00a31,089,000) has been recognised in revenue in the current year as the performance obligations were met.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-383": { "value": "16 Trade and other payables
Group
Company
2025 2024 2025 2024
Current payables \u00a3000 \u00a3000 \u00a3000 \u00a3000
Trade payables
17,705
16,472
57
127
Land payables
12,663
6,167
\u2013
\u2013
Lease liabilities
1,928
1,595
\u2013
\u2013
Other taxation and social security
2,567
2,285
88
73
Contract liabilities
6,937
1,137
\u2013
\u2013
Accruals and deferred income
38,022
32,938
524
1,018
Amounts due to subsidiary undertakings
\u2013
\u2013
139,819
145,274
79,822
60,594
140,488
146,492
Non-current payables
Land payables
7,825
3,133
\u2013
\u2013
Lease liabilities
3,462
3,481
\u2013
\u2013
11,287
6,614
\u2013
\u2013
Amounts due to subsidiary undertakings are unsecured, repayable on demand, and interest free. Contract liabilities relate to customer deposits and exchange monies that have not yet met the performance obligations to be classified as revenue. Of the prior year balance \u00a3811,000 (2024: \u00a31,089,000) has been recognised in revenue in the current year as the performance obligations were met.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-355": { "value": "
17 Leases
Right-of-use assets
2025
2024
Plant and Plant and
Property equipment Total Property equipment Total
\u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000
Cost
6,186
3,261
9,447
5,233
2,986
8,219
Accumulated depreciation
(2,645)
(1,881)
(4,526)
(2,029)
(1,616)
(3,645)
Net book value
3,541
1,380
4,921
3,204
1,370
4,574
Lease liabilities
2025 2024
\u00a3000 \u00a3000
Current liabilities
1,928
1,595
Non-current liabilities
3,462
3,481
Total lease liabilities
5,390
5,076
Amounts recognised in the consolidated income statement
2025 2024
\u00a3000 \u00a3000
Depreciation on right-of-use property assets
616
650
Depreciation on right-of-use plant and equipment assets
903
661
Interest on lease liabilities
228
234
Total
1,747
1,545
Amounts recognised in the statement of cash flows
2025 2024
\u00a3000 \u00a3000
Principal element of lease payments
1,553
1,196
Interest element of lease payments
228
234
Total cash outflow
1,781
1,430
", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-384": { "value": "Right-of-use assets
2025
2024
Plant and Plant and
Property equipment Total Property equipment Total
\u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000
Cost
6,186
3,261
9,447
5,233
2,986
8,219
Accumulated depreciation
(2,645)
(1,881)
(4,526)
(2,029)
(1,616)
(3,645)
Net book value
3,541
1,380
4,921
3,204
1,370
4,574
Lease liabilities
2025 2024
\u00a3000 \u00a3000
Current liabilities
1,928
1,595
Non-current liabilities
3,462
3,481
Total lease liabilities
5,390
5,076
Amounts recognised in the consolidated income statement
2025 2024
\u00a3000 \u00a3000
Depreciation on right-of-use property assets
616
650
Depreciation on right-of-use plant and equipment assets
903
661
Interest on lease liabilities
228
234
Total
1,747
1,545
Amounts recognised in the statement of cash flows
2025 2024
\u00a3000 \u00a3000
Principal element of lease payments
1,553
1,196
Interest element of lease payments
228
234
Total cash outflow
1,781
1,430
", "dimensions": { "concept": "ifrs-full:DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-356": { "value": "
18 Provisions
Building
Dilapidations safety Restructuring Total
\u00a3000 \u00a3000 \u00a3000 \u00a3000
Group
As at 1 July 2023
699
12,750
30
13,479
Provisions made during the year
79
\u2013
\u2013
79
Provisions used during the year
(79)
(352)
(30)
(461)
As at 30 June 2024
699
12,398
\u2013
13,097
Provisions made during the year
4
2,018
1,343
3,365
Provisions used during the year
\u2013
(467)
(718)
(1,185)
Provisions released during the year
\u2013
(2,021)
\u2013
(2,021)
As at 30 June 2025
703
11,928
625
13,256
2025 2024
\u00a3000 \u00a3000
Current provisions
5,520
3,024
Non-current provisions
7,736
10,073
13,256
13,097
Dilapidations
The dilapidations provision covers the Group's leased property estate. The expected provision needed at the end of
each lease is recognised on a straight-line basis over the term of the lease. There is no signficant uncertainty in either
the timing or amount.
Building safety
The building safety provision includes estimated costs to remediate life-critical fire-safety issues on buildings which
the Group had some involvement in developing in the 30 years since 1992. By signing the Department for Levelling
Up, Housing and Communities' (\u201cDLUHC\u201d) pledge in April 2022, and long-form agreement in February 2023, the
Group committed to put right life-critical fire-safety issues in relation to the buildings over 11 metres tall.
The provision includes the estimated costs for 18 buildings over 11 metres, one of which was newly identified this year.
The Group retains no freehold ownership of these or any other buildings. All of the buildings, including any external
wall systems or cladding, were signed off by approved inspectors as compliant with the relevant building regulations
at the time of their completion. The provision also includes the costs for remediating any buildings under 11 metres
where these have been identified to have life-critical fire-safety issues and where the Group had some involvement in
developing over the last 30 years.
The Group has continued to make progress in the assessment and remediation work required, but this has been
slowed in some cases by the response from building owners and management companies. In other cases, more
significant progress has been made in the design and procurement of works required and the carrying out of works
on site, and the Group is awaiting invoices on completion.
The provision of \u00a311,928,000 (2024: \u00a312,398,000) represents the Board\u2019s best estimate of the remaining life-critical
fire-safety remediation costs for these buildings. The Group has provided for the cost of remediation where there is a
liability, where build issues have been identified or it is considered that such build issues are likely to exist. The Group
incurred costs of \u00a3467,000 in the year (2024: \u00a3352,000) which were included in the provision estimate.
The Group reviews the building safety provision at each reporting date and, where necessary, adjusts it to reflect the
current best estimate of these remediation costs. The Group used external third-party assessments that were carried
out in 2023 and has adjusted these for any known changes to the scope or extent of remediation works required, as
well as for inspections or works carried out to date.
Restructuring
As set out in note 3, the restructuring of the Gleeson Homes business resulted in exceptional costs of \u00a31,343,000. Of
this expenditure, \u00a3718,000 was paid out in the year, with the remaining \u00a3625,000 provided for at the year end.
Company
At 30 June 2025, the Company did not have any provisions (2024: \u00a3nil).
", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-357": { "value": "
19 Employee benefits
Defined contribution pension plan
The Group operates a defined contribution pension plan. The assets of the pension plan are held separately from
those of the Group in funds under the control of the trustees.
Group
The total pension cost charged to the consolidated income statement of \u00a31,638,000 (2024: \u00a31,644,000) represents
contributions payable to the defined contribution pension plan by the Group at rates specified in the plan rules. At
30 June 2025, contributions of \u00a3257,000 (2024: \u00a3248,000) due in respect of the current reporting period had not been
paid over to the pension plan. Since the year end, this amount has been paid.
Company
The total pension cost charged to the income statement of \u00a371,000 (2024: \u00a371,000) represents contributions payable
to the defined contribution pension plan by the Company at rates specified in the plan rules. At 30 June 2025,
contributions of \u00a32,000 (2024: \u00a33,000) due in respect of the current reporting period had not been paid over to the
pension plan. Since the year end, this amount has been paid.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-385": { "value": "Defined contribution pension plan The Group operates a defined contribution pension plan. The assets of the pension plan are held separately from those of the Group in funds under the control of the trustees. Group The total pension cost charged to the consolidated income statement of \u00a31,638,000 (2024: \u00a31,644,000) represents contributions payable to the defined contribution pension plan by the Group at rates specified in the plan rules. At 30 June 2025, contributions of \u00a3257,000 (2024: \u00a3248,000) due in respect of the current reporting period had not been paid over to the pension plan. Since the year end, this amount has been paid. Company The total pension cost charged to the income statement of \u00a371,000 (2024: \u00a371,000) represents contributions payable to the defined contribution pension plan by the Company at rates specified in the plan rules. At 30 June 2025, contributions of \u00a32,000 (2024: \u00a33,000) due in respect of the current reporting period had not been paid over to the pension plan. Since the year end, this amount has been paid.", "dimensions": { "concept": "ifrs-full:DisclosureOfDefinedContributionPlansExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-405": { "value": "20 Deferred tax (liabilities)/assets Group
Short-term Share-
Plant and timing based
equipment differences payments Total
\u00a3000 \u00a3000 \u00a3000 \u00a3000
At 1 July 2023
(446)
401
842
797
Adjustment in respect of prior year
(165)
76
\u2013
(89)
Credit/(charge) to income
265
(242)
(130)
(107)
Charge to equity
\u2013
\u2013
(284)
(284)
At 30 June 2024
(346)
235
428
317
Adjustment in respect of prior year
(41)
(21)
(3)
(65)
Credit/(charge) to income
96
4
(215)
(115)
Charge to equity
\u2013
\u2013
(210)
(210)
At 30 June 2025
(291)
218
\u2013
(73)
At the balance sheet date, the Group has unrecognised tax losses of \u00a38,575,000 (2024: \u00a38,876,000) available for offset against future profits. These relate to trapped head office costs in the ring-fenced legacy companies. Losses may be carried forward indefinitely against future taxable trading profits. These losses have not been recognised as a deferred tax asset as it is not considered probable that there will be suitable profits or gains available in future periods against which they may be offset. Deferred tax assets of \u00a3218,000 are offset by \u00a3291,000 of liabilities to arrive at a net deferred tax liability of \u00a373,000 (2024: \u00a3317,000 net deferred tax asset). Of the total deferred tax asset, \u00a3206,000 (2024: \u00a3586,000) is expected to be recovered within 12 months of the balance sheet date. Company
Short-term Share-
Plant and timing based
equipment differences payments Total
\u00a3000 \u00a3000 \u00a3000 \u00a3000
At 1 July 2023
2
\u2013
440
442
Adjustment in respect of prior year
\u2013
86
\u2013
86
(Charge)/credit to income
\u2013
(59)
10
(49)
Charge to equity
\u2013
\u2013
(24)
(24)
At 30 June 2024
2
27
426
455
Adjustment in respect of prior year
(1)
(13)
(1)
(15)
Charge to income
\u2013
(3)
(215)
(218)
Charge to equity
\u2013
\u2013
(210)
(210)
At 30 June 2025
1
11
\u2013
12
", "dimensions": { "concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-386": { "value": "20 Deferred tax (liabilities)/assets Group
Short-term Share-
Plant and timing based
equipment differences payments Total
\u00a3000 \u00a3000 \u00a3000 \u00a3000
At 1 July 2023
(446)
401
842
797
Adjustment in respect of prior year
(165)
76
\u2013
(89)
Credit/(charge) to income
265
(242)
(130)
(107)
Charge to equity
\u2013
\u2013
(284)
(284)
At 30 June 2024
(346)
235
428
317
Adjustment in respect of prior year
(41)
(21)
(3)
(65)
Credit/(charge) to income
96
4
(215)
(115)
Charge to equity
\u2013
\u2013
(210)
(210)
At 30 June 2025
(291)
218
\u2013
(73)
At the balance sheet date, the Group has unrecognised tax losses of \u00a38,575,000 (2024: \u00a38,876,000) available for offset against future profits. These relate to trapped head office costs in the ring-fenced legacy companies. Losses may be carried forward indefinitely against future taxable trading profits. These losses have not been recognised as a deferred tax asset as it is not considered probable that there will be suitable profits or gains available in future periods against which they may be offset. Deferred tax assets of \u00a3218,000 are offset by \u00a3291,000 of liabilities to arrive at a net deferred tax liability of \u00a373,000 (2024: \u00a3317,000 net deferred tax asset). Of the total deferred tax asset, \u00a3206,000 (2024: \u00a3586,000) is expected to be recovered within 12 months of the balance sheet date. Company
Short-term Share-
Plant and timing based
equipment differences payments Total
\u00a3000 \u00a3000 \u00a3000 \u00a3000
At 1 July 2023
2
\u2013
440
442
Adjustment in respect of prior year
\u2013
86
\u2013
86
(Charge)/credit to income
\u2013
(59)
10
(49)
Charge to equity
\u2013
\u2013
(24)
(24)
At 30 June 2024
2
27
426
455
Adjustment in respect of prior year
(1)
(13)
(1)
(15)
Charge to income
\u2013
(3)
(215)
(218)
Charge to equity
\u2013
\u2013
(210)
(210)
At 30 June 2025
1
11
\u2013
12
", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-387": { "value": "21 Net cash/(debt)
Group
Company
2025 2024 2025 2024
\u00a3000 \u00a3000 \u00a3000 \u00a3000
Cash and cash equivalents
6,490
12,934
30
1,056
Bank overdrafts
(2,269)
\u2013
\u2013
\u2013
Cash and cash equivalents, net of bank overdrafts
4,221
12,934
30
1,056
Borrowings
(5,000)
\u2013
(5,000)
\u2013
Net (debt)/cash before lease liabilities
(779)
12,934
(4,970)
1,056
Lease liabilities
(5,390)
(5,076)
\u2013
\u2013
Net (debt)/cash
(6,169)
7,858
(4,970)
1,056
At 30 June 2025, monies held by solicitors on behalf of the Group and included within cash and cash equivalents were \u00a36,490,000 (2024: \u00a32,253,000). No monies were held by solicitors on behalf of the Company at the balance sheet date (2024: \u00a3nil).
Cash
and cash
equivalents,
net of bank Cash net of Lease
overdrafts Borrowings borrowings liabilities Total
\u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000
Net cash/(debt) at 1 July 2023
5,159
\u2013
5,159
(5,144)
15
Cash flows
7,775
\u2013
7,775
1,430
9,205
New leases
\u2013
\u2013
\u2013
(1,389)
(1,389)
Leases exited in the year
\u2013
\u2013
\u2013
261
261
Finance expenses
\u2013
\u2013
\u2013
(234)
(234)
Net cash/(debt) at 30 June 2024
12,934
\u2013
12,934
(5,076)
7,858
Cash flows
(8,713)
(5,000)
(13,713)
1,781
(11,932)
New leases
\u2013
\u2013
\u2013
(1,874)
(1,874)
Leases exited in the year
\u2013
\u2013
\u2013
7
7
Finance expenses
\u2013
\u2013
\u2013
(228)
(228)
Net cash/(debt) at 30 June 2025
4,221
(5,000)
(779)
(5,390)
(6,169)
", "dimensions": { "concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-358": { "value": "
22 Bonds and securities
At 30 June 2025, the Group had bonds and securities of \u00a364,503,000 (2024: \u00a357,017,000) provided by financial
institutions in the normal course of business.
The Directors have determined that the Group and Company require no specific provision for bonds, securities or
guarantees for subsidiary companies as the possibility of any outflow in settlement of these is considered to be
remote.
", "dimensions": { "concept": "mjgleesonplc:DisclosureOfBondsAndSecurities", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-359": { "value": "
23 Share capital
Number
\u00a3000
Issued and fully paid 2p ordinary shares:
At 1 July 2023
58,342,360
1,167
Shares issued during year
39,613
1
At 30 June 2024
58,381,973
1,168
Shares issued during year
46,153
1
At 30 June 2025
58,428,126
1,169
Ordinary shares
The Company has one class of ordinary share that carries no rights to fixed income. All issued shares are fully paid.
During the year, the Group issued 46,153 ordinary shares (2024: 39,613 ordinary shares) at the nominal value of 2 pence
per share in settlement of share-based payments as set out in note 24.
Own shares reserve
The own shares reserve represents the cost of shares in MJ Gleeson plc purchased in the market or issued by the
Company and held by the Employee Benefit Trusts (\"EBT\") on behalf of the Company in order to satisfy share-based
payments and other share awards that have been granted by the Company.
Purchase of own shares in the year of \u00a369,000 (2024: \u00a3106,000) represents the purchase of shares by the EBT for shares
to be granted to employees in future periods.
Utilisation of own shares of \u00a3293,000 (2024: \u00a3393,000) represents shares transferred to employees for awards exercised
in the period.
The EBT has agreed to waive the right to dividend shares held within the EBT, and these shares do not count in the
calculation of the weighted average number of shares used to calculate earnings per share until such time as they
vest to the relevant employee.
2025
2024
Number
\u00a3000
Number
\u00a3000
Own shares held by the EBT
53,986
232
110,873
456
", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-388": { "value": "23 Share capital
Number
\u00a3000
Issued and fully paid 2p ordinary shares:
At 1 July 2023
58,342,360
1,167
Shares issued during year
39,613
1
At 30 June 2024
58,381,973
1,168
Shares issued during year
46,153
1
At 30 June 2025
58,428,126
1,169
Ordinary shares The Company has one class of ordinary share that carries no rights to fixed income. All issued shares are fully paid. During the year, the Group issued 46,153 ordinary shares (2024: 39,613 ordinary shares) at the nominal value of 2 pence per share in settlement of share-based payments as set out in note 24. ", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-406": { "value": "Own shares reserve The own shares reserve represents the cost of shares in MJ Gleeson plc purchased in the market or issued by the Company and held by the Employee Benefit Trusts (\"EBT\") on behalf of the Company in order to satisfy share-based payments and other share awards that have been granted by the Company. Purchase of own shares in the year of \u00a369,000 (2024: \u00a3106,000) represents the purchase of shares by the EBT for shares to be granted to employees in future periods. Utilisation of own shares of \u00a3293,000 (2024: \u00a3393,000) represents shares transferred to employees for awards exercised in the period. The EBT has agreed to waive the right to dividend shares held within the EBT, and these shares do not count in the calculation of the weighted average number of shares used to calculate earnings per share until such time as they vest to the relevant employee.
2025
2024
Number
\u00a3000
Number
\u00a3000
Own shares held by the EBT
53,986
232
110,873
456
", "dimensions": { "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-389": { "value": "Own shares reserve The own shares reserve represents the cost of shares in MJ Gleeson plc purchased in the market or issued by the Company and held by the Employee Benefit Trusts (\"EBT\") on behalf of the Company in order to satisfy share-based payments and other share awards that have been granted by the Company. Purchase of own shares in the year of \u00a369,000 (2024: \u00a3106,000) represents the purchase of shares by the EBT for shares to be granted to employees in future periods. Utilisation of own shares of \u00a3293,000 (2024: \u00a3393,000) represents shares transferred to employees for awards exercised in the period. The EBT has agreed to waive the right to dividend shares held within the EBT, and these shares do not count in the calculation of the weighted average number of shares used to calculate earnings per share until such time as they vest to the relevant employee.
2025
2024
Number
\u00a3000
Number
\u00a3000
Own shares held by the EBT
53,986
232
110,873
456
", "dimensions": { "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-360": { "value": "
24 Share-based payments
The Group operates a number of share-based payment schemes, a summary of which is shown below. The share
purchase plans encourage employee share ownership whereby the Company contributes one share for every three
shares purchased and is available to all employees after the completion of their probationary period. The long-term
incentive plans (\"LTIP\") are part of remuneration for the Executive Directors and senior management. Additional
information regarding the share-based payment arrangements for the Executive Directors is set out in the Report on
Remuneration on pages 140 to 151. All schemes are equity-settled.
Share
purchase LTIP LTIP LTIP LTIP LTIP LTIP
plans 24/09/20 27/09/21 20/10/22 22/02/23 01/10/23 28/10/24
No. of No. of No. of No. of No. of No. of No. of
Date of grant shares shares shares shares shares shares shares
Outstanding at 1 July 2023
37,580
326,664
307,807
550,093
363,532
\u2013
\u2013
Granted in the year
12,982
\u2013
\u2013
\u2013
\u2013
650,829
\u2013
Forfeited
(5,301)
(287,051)
(25,269)
(72,123)
\u2013
(9,671)
\u2013
Exercised
(6,356)
(39,613)
\u2013
\u2013
\u2013
\u2013
\u2013
Outstanding at 30 June 2024
38,905
\u2013
282,538
477,970
363,532
641,158
\u2013
Granted in the year
10,525
\u2013
\u2013
\u2013
\u2013
\u2013
482,362
Forfeited
(7,989)
\u2013
(282,538)
(5,227)
\u2013
(54,315)
(64,797)
Exercised
(4,453)
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
Outstanding at 30 June 2025
36,988
\u2013
\u2013
472,743
363,532
586,843
417,565
Rolling
Remaining contractual life
scheme
nil
nil
nil
nil
12 months
24 months
Weighted average exercise price
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
\u2013
Weighted average share price at date
of exercise \u2013 current year
\u00a34.69
n/a
n/a
n/a
n/a
n/a
n/a
Weighted average share price at date
of exercise \u2013 prior year
\u00a35.34
n/a
n/a
n/a
n/a
n/a
n/a
Fair value is used to measure the value of the outstanding options. The weighted average remaining contractual life
for all schemes outstanding at the end of the year was nine months (2024: 14 months).
Share purchase plans
The fair value of each share granted in the share purchase plan is equal to the share price at the date of the grant.
Shares are granted on a monthly basis.
Long Term Incentive Plan (\"LTIP\")
The fair value of options granted is calculated using either a modified Monte Carlo model or Black-Scholes model. The
inputs into the model at each grant date and the estimated fair value were as follows:
LTIP LTIP LTIP LTIP LTIP LTIP
Date of grant
24/09/20 27/09/21 20/10/22 22/02/23 01/10/23
28/10/24
The model inputs were:
Share price at grant date
\u00a36.16
\u00a38.14
\u00a33.94
\u00a34.56
\u00a34.23
\u00a36.07
Total shareholder return target
n/a
3
n/a
3
n/a
3
n/a
3
n/a
3
n/a
3
Exercise price
\u00a30.00
\u00a30.00
\u00a30.00
\u00a30.00
\u00a30.00
\u00a30.00
Expected volatility
1
33%
34%
43%
44%
39%
34%
Expected dividends
2
n/a
2
n/a
2
n/a
2
n/a
2
n/a
2
n/a
2
Expected life
33 months
33 months
33 months
30 months
33 months
33 months
Risk-free interest rate
0.1%
4
0.5%
4
3.7%
4
3.7%
4
4.4%
4
4.0%
4
Fair value of one option
\u00a34.64
5
\u00a35.35
5
\u00a32.20
5
\u00a33.95
5
\u00a33.45
5
\u00a35.63
5
1
Expected volatility was determined by calculating the historical volatility of the Company's share price; volatility was measured over the
previous three years.
2
Awards made under the LTIP allows, on vesting, for an additional award of shares to be made to the option holder equivalent to the dividends
paid over the vesting period on the underlying shares.
3
The LTIP awards include EPS and relative TSR targets for the Executive Directors as set out on page 143 together with non-market, profit-
related targets for other participants. Non-market conditions are not factored into the fair value of the awards but are instead captured by
adjusting the number of awards expected to vest.
4
Risk-free interest rate varies based on the type of target set; the weighted average of these is shown.
5
Volatility rates and fair value of options vary based on the type of target set; the weighted average of these is shown.
The total share-based payment charge to the consolidated income statement was \u00a3660,000 (2024: \u00a3218,000).
", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-361": { "value": "
25 Contingent liabilities
As set out in note 18, the Group is undertaking remediation assessment and works on buildings over 11 metres, in
which, since 1992, the Group had some involvement in developing. All of these buildings, including any external wall
systems or cladding, were signed off by approved inspectors as compliant with the relevant building regulations at
the time of their completion.
As set out in note 12, there are certain legacy activities of the Group where claims arise under historic contracts in
Gleeson Construction Services Limited, which were carried out in the ordinary course of activities.
These financial statements have been prepared based on currently available information and the current best
estimate of the extent and future costs of work required, or in resolving known historic claims.
26 Capital commitments
At 30 June 2025, the Group had no material capital commitments (2024: \u00a3nil). The Company had no capital
commitments (2024: \u00a3nil).
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-390": { "value": "25 Contingent liabilities As set out in note 18, the Group is undertaking remediation assessment and works on buildings over 11 metres, in which, since 1992, the Group had some involvement in developing. All of these buildings, including any external wall systems or cladding, were signed off by approved inspectors as compliant with the relevant building regulations at the time of their completion. As set out in note 12, there are certain legacy activities of the Group where claims arise under historic contracts in Gleeson Construction Services Limited, which were carried out in the ordinary course of activities. These financial statements have been prepared based on currently available information and the current best estimate of the extent and future costs of work required, or in resolving known historic claims. ", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-391": { "value": "26 Capital commitments At 30 June 2025, the Group had no material capital commitments (2024: \u00a3nil). The Company had no capital commitments (2024: \u00a3nil).", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-362": { "value": "
27 Related party transactions
Identity of related parties
The Group has a related party relationship with key management personnel.
Transactions between the Company and its subsidiaries, which are related parties, have been eliminated on
consolidation.
Transactions with key management personnel
The Group's key management personnel are the Executive and Non-Executive Directors, as identified on
pages 110 and 111, the Chief Executive of Gleeson Homes, the Managing Director of Gleeson Land, the Divisional
Managing Directors of Gleeson Homes and the Group Land and Planning Director.
During the year ended 30 June 2021, the Group exchanged contracts on a conditional agreement to purchase an area
of land from Hampton Investment Properties Ltd (\u201cHIPL\u201d) for \u00a31,050,000. HIPL is a company in which North Atlantic
Smaller Companies Investment Trust plc (\u201cNASCIT\u201d), a substantial holder in the company, holds a majority investment.
In addition, Christopher Mills, a Non-Executive Director of the Company, is considered a related party by virtue of his
interest in and directorship of NASCIT and his position as a Director of HIPL. The land, if purchased, will form part of a
new Gleeson Homes site being developed in the ordinary course of business. Approval of this purchase was granted
by the majority of shareholders at the AGM in December 2019.
Other than disclosed above, there were no other transactions with key management personnel in either the current
or prior year.
Identity of related parties with which the Company has transacted
The Company receives charges from various suppliers in respect of services for the whole Group. The Company
allocates and consequently invoices these charges to subsidiaries.
Administrative expenses
Receivables outstanding
Payables outstanding
2025 2024 2025 2024 2025 2024
\u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000
Subsidiaries
2,110
2,027
102,002
114,713
139,819
145,274
", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-407": { "value": "27 Related party transactions Identity of related parties The Group has a related party relationship with key management personnel. Transactions between the Company and its subsidiaries, which are related parties, have been eliminated on consolidation. Transactions with key management personnel The Group's key management personnel are the Executive and Non-Executive Directors, as identified on pages 110 and 111, the Chief Executive of Gleeson Homes, the Managing Director of Gleeson Land, the Divisional Managing Directors of Gleeson Homes and the Group Land and Planning Director. During the year ended 30 June 2021, the Group exchanged contracts on a conditional agreement to purchase an area of land from Hampton Investment Properties Ltd (\u201cHIPL\u201d) for \u00a31,050,000. HIPL is a company in which North Atlantic Smaller Companies Investment Trust plc (\u201cNASCIT\u201d), a substantial holder in the company, holds a majority investment. In addition, Christopher Mills, a Non-Executive Director of the Company, is considered a related party by virtue of his interest in and directorship of NASCIT and his position as a Director of HIPL. The land, if purchased, will form part of a new Gleeson Homes site being developed in the ordinary course of business. Approval of this purchase was granted by the majority of shareholders at the AGM in December 2019. Other than disclosed above, there were no other transactions with key management personnel in either the current or prior year. Identity of related parties with which the Company has transacted The Company receives charges from various suppliers in respect of services for the whole Group. The Company allocates and consequently invoices these charges to subsidiaries.
Administrative expenses
Receivables outstanding
Payables outstanding
2025 2024 2025 2024 2025 2024
\u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000 \u00a3000
Subsidiaries
2,110
2,027
102,002
114,713
139,819
145,274
", "dimensions": { "concept": "ifrs-full:DisclosureOfTransactionsBetweenRelatedPartiesExplanatory", "language": "en", "entity": "scheme:21380064K7N2W7FD6434", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } } } }