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1
General
information
The Company was incorporated on 31 March 2021 as Bay Capital Limited, a private limited company under the
laws of Jersey with registered number 134743. On 8 September 2021 the Company was re-registered as an
unlisted public limited company and its name was changed to Bay Capital Plc. On 30 September 2021 the
Company shares were admitted to trading onto the Main Market of the London Stock Exchange. The Company
is the parent company of Bay Capital Subco Limited (a private limited company under the laws of Jersey with
registered number 134744).
The address of its registered office is 28 Esplanade, St. Helier, Channel Islands, JE2 3QA, Jersey. The Group has
been incorporated for the purpose of identifying suitable acquisition opportunities in accordance with the Groups
investment and acquisition strategy with a view to creating shareholder value. The Group will retain a flexible
investment and acquisition strategy which will, subject to appropriate levels of due diligence, enable it to deploy
capital in target companies by way of minority or majority investments, or full acquisitions where it is in the
interests of shareholders to do so. This will include transactions with target companies located in the UK and
internationally.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-4": { "value": "Jersey", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-116": { "value": "On 8 September 2021 the Company was re-registered as an unlisted public limited company and its name was changed to Bay Capital Plc.", "dimensions": { "concept": "ifrs-full:ExplanationOfChangeInNameOfReportingEntityOrOtherMeansOfIdentificationFromEndOfPrecedingReportingPeriod", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-5": { "value": "public limited company", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-6": { "value": "Bay Capital Plc", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-7": { "value": "28 Esplanade, St. Helier, Channel Islands, JE2 3QA, Jersey", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-121": { "value": "
2
Accounting
policies
The accounting policies set out below have, unless otherwise stated, been applied consistently to all periods
presented in these consolidated financial statements.
The principal policies adopted in the preparation of the consolidated financial statements are as follows:
(a)
Basis of preparation
These consolidated financial statements have been prepared in accordance with the requirements of UK adopted
International Financial Reporting Standards (\u201cIFRS\u201d) and the requirements of the Companies (Jersey) Law 1991.
The consolidated financial statements are prepared on the historical cost basis.
(b)
Basis of consolidation
The consolidated financial statements present the results of the Company and its subsidiaries (the \u201cGroup\u201d) as if
they formed a single entity. Intercompany transactions and balances between Group companies are therefore
eliminated in full.
Where the Group has control over a Company, it is classified as a subsidiary. The Group controls a Company if all
three of the following elements are present: power over the Company, exposure to variable returns from the
Company, and the ability of the Group to use its power to affect those variable returns. Control is reassessed
whenever facts and circumstances indicate that there may be a change in any of these elements of control.
The consolidated financial statements incorporate the results of business combinations using the acquisition
method. In the consolidated statement of financial position, the acquiree\u2019s identifiable assets, liabilities and
contingent liabilities are initially authorised at their fair values at the acquisition date. The acquisition related costs
are included in the consolidated statement of comprehensive income on an accruals basis. The results of acquired
operations are included in the consolidated statement of comprehensive income from the date on which control
is obtained.
(c)
Functional and presentational currency
The Group\u2019s functional and presentational currency for these financial statements is the pound sterling.
(d)
Going concern
The Directors, having made due and careful enquiry, are of the opinion that the Group has adequate working
capital to execute its operations over the next 12 months. The Group\u2019s unaudited cash balance as at 10 April
2025 was \u00a34,541,055, and excluding the consummation of any investment or acquisition which will likely require
specific funding, has adequate resources available to fund the on-going forecasted operating expenses for at
least twelve months following approval of the financial statements. The Directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. As a result, the Directors have adopted the going concern basis of accounting in preparing the annual financial statements. (e) Employee benefits Short-term benefits Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the related service is provided. A liability authorised for the amount expected to be paid under short-term cash bonus or profit- sharing plans if the Group has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee and the obligation can be estimated reliably. (f) Taxation Tax on the profit or loss for the year comprises current and deferred tax. Tax authorised in the income statement except to the extent that it relates to it authorised in other comprehensive income or directly in equity, in which case it is recognised in other comprehensive income or equity respectively. Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates and laws enacted or substantively enacted at the balance sheet date. Deferred tax is provided on temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The following temporary differences are not provided for: the initial recognition of goodwill; the initial recognition of assets or liabilities that affect neither accounting nor taxable profit other than in a business combination, and differences relating to investments in subsidiaries to the extent that they will probably not reverse in the foreseeable future. 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 and laws 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 temporary difference can be utilised. (g) Cash and cash equivalents Cash and cash equivalents comprise cash balances and short-term deposits with an original maturity of three months or less from inception, held for meeting short term commitments. (h) Financial assets and liabilities The Group\u2019s financial assets and liabilities comprise cash and cash equivalents and accruals. Financial assets are stated at amortised cost less provision for expected credit losses. Financial liabilities are stated at amortised cost. (i) Share-based payments The Group operates an equity-settled share-based payment plan. The fair value of the employee services received in exchange for the grant of options is recognised as an expense over the vesting period, based on the Group\u2019s estimate of awards that will eventually vest, with a corresponding increase in equity as a share-based payment reserve. This plan includes market-based vesting conditions for which the fair value at grant date reflects and are therefore not subsequently revisited. The fair value is determined using a binomial model.
(j)
Warrants
Warrants issued as part of share issues have been determined as equity instruments under IAS 32. Since the fair
value of the shares issued at the same time as the warrants is equal to the price paid, these warrants, by deduction,
are considered to have been issued at fair value.
(k)
Accounting standards issued
The following amendments to standards were issued and adopted in the year, with no material impact on the
financial statements (all effective for annual periods beginning on or after 1 January 2024):
\u2022
Classification of Liabilities as Current or Non-Current (Amendments to IAS 1)
\u2022
Lease Liability in a Sale and Leaseback (Amendments to IFRS 16)
\u2022
Non-current Liabilities with Covenants (Amendments to IAS 1)
\u2022
Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7)
There were no other new accounting standards or amendments issued that have been adopted in the year.
(l)
Standards in issue but not yet effective
At the date of authorisation of these financial statements there were no mandatory amendments to standards
which were in issue, but which were not yet effective.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-123": { "value": "(a) Basis of preparation These consolidated financial statements have been prepared in accordance with the requirements of UK adopted International Financial Reporting Standards (\u201cIFRS\u201d) and the requirements of the Companies (Jersey) Law 1991. The consolidated financial statements are prepared on the historical cost basis. ", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-152": { "value": "These consolidated financial statements have been prepared in accordance with the requirements of UK adopted International Financial Reporting Standards (\u201cIFRS\u201d) and the requirements of the Companies (Jersey) Law 1991. ", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-124": { "value": "(b) Basis of consolidation The consolidated financial statements present the results of the Company and its subsidiaries (the \u201cGroup\u201d) as if they formed a single entity. Intercompany transactions and balances between Group companies are therefore eliminated in full. Where the Group has control over a Company, it is classified as a subsidiary. The Group controls a Company if all three of the following elements are present: power over the Company, exposure to variable returns from the Company, and the ability of the Group to use its power to affect those variable returns. Control is reassessed whenever facts and circumstances indicate that there may be a change in any of these elements of control. The consolidated financial statements incorporate the results of business combinations using the acquisition method. In the consolidated statement of financial position, the acquiree\u2019s identifiable assets, liabilities and contingent liabilities are initially authorised at their fair values at the acquisition date. The acquisition related costs are included in the consolidated statement of comprehensive income on an accruals basis. The results of acquired operations are included in the consolidated statement of comprehensive income from the date on which control is obtained. ", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-125": { "value": "(c) Functional and presentational currency The Group\u2019s functional and presentational currency for these financial statements is the pound sterling. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-126": { "value": "(d) Going concern The Directors, having made due and careful enquiry, are of the opinion that the Group has adequate working capital to execute its operations over the next 12 months. The Group\u2019s unaudited cash balance as at 10 April 2025 was \u00a34,541,055, and excluding the consummation of any investment or acquisition which will likely require specific funding, has adequate resources available to fund the on-going forecasted operating expenses for a
least twelve months following approval of the financial statements. The Directors, therefore, have made an
informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that
the Group has adequate resources to continue in operational existence for the foreseeable future. As a result, the
Directors have adopted the going concern basis of accounting in preparing the annual financial statements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-131": { "value": "
(e)
Employee benefits
Short-term benefits
Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the related
service is provided. A liability authorised for the amount expected to be paid under short-term cash bonus or
profit- sharing plans if the Group has a present legal or constructive obligation to pay this amount as a result of
past service provided by the employee and the obligation can be estimated reliably.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-127": { "value": "
(f)
Taxation
Tax on the profit or loss for the year comprises current and deferred tax. Tax authorised in the income statement
except to the extent that it relates to it authorised in other comprehensive income or directly in equity, in which
case it is recognised in other comprehensive income or equity respectively.
Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates
and laws enacted or substantively enacted at the balance sheet date.
Deferred tax is provided on temporary differences between the carrying amounts of assets and liabilities for
financial reporting purposes and the amounts used for taxation purposes. The following temporary differences
are not provided for: the initial recognition of goodwill; the initial recognition of assets or liabilities that affect
neither accounting nor taxable profit other than in a business combination, and differences relating to investments
in subsidiaries to the extent that they will probably not reverse in the foreseeable future. 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 and laws 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 temporary difference can be utilised.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-153": { "value": "(f) Taxation Tax on the profit or loss for the year comprises current and deferred tax. Tax authorised in the income statement except to the extent that it relates to it authorised in other comprehensive income or directly in equity, in which case it is recognised in other comprehensive income or equity respectively. Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates and laws enacted or substantively enacted at the balance sheet date. Deferred tax is provided on temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The following temporary differences are not provided for: the initial recognition of goodwill; the initial recognition of assets or liabilities that affect neither accounting nor taxable profit other than in a business combination, and differences relating to investments in subsidiaries to the extent that they will probably not reverse in the foreseeable future. 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 and laws 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 temporary difference can be utilised. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-128": { "value": "
(g)
Cash and cash equivalents
Cash and cash equivalents comprise cash balances and short-term deposits with an original maturity of three
months or less from inception, held for meeting short term commitments.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-129": { "value": "
(h)
Financial assets and liabilities
The Group\u2019s financial assets and liabilities comprise cash and cash equivalents and accruals. Financial assets
are stated at amortised cost less provision for expected credit losses. Financial liabilities are stated at amortised
cost.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-154": { "value": "(h) Financial assets and liabilities The Group\u2019s financial assets and liabilities comprise cash and cash equivalents and accruals. Financial assets are stated at amortised cost less provision for expected credit losses. Financial liabilities are stated at amortised cost. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-168": { "value": "(h) Financial assets and liabilities The Group\u2019s financial assets and liabilities comprise cash and cash equivalents and accruals. Financial assets are stated at amortised cost less provision for expected credit losses. Financial liabilities are stated at amortised cost. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-130": { "value": "
(i)
Share-based payments
The Group operates an equity-settled share-based payment plan. The fair value of the employee services received
in exchange for the grant of options is recognised as an expense over the vesting period, based on the Group\u2019s
estimate of awards that will eventually vest, with a corresponding increase in equity as a share-based payment
reserve.
This plan includes market-based vesting conditions for which the fair value at grant date reflects and are therefore
not subsequently revisited. The fair value is determined using a binomial model.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-132": { "value": "(j) Warrants Warrants issued as part of share issues have been determined as equity instruments under IAS 32. Since the fair value of the shares issued at the same time as the warrants is equal to the price paid, these warrants, by deduction, are considered to have been issued at fair value. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForWarrantsExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-133": { "value": "(k) Accounting standards issued The following amendments to standards were issued and adopted in the year, with no material impact on the financial statements (all effective for annual periods beginning on or after 1 January 2024): \u2022 Classification of Liabilities as Current or Non-Current (Amendments to IAS 1) \u2022 Lease Liability in a Sale and Leaseback (Amendments to IFRS 16) \u2022 Non-current Liabilities with Covenants (Amendments to IAS 1) \u2022 Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7) There were no other new accounting standards or amendments issued that have been adopted in the year. (l) Standards in issue but not yet effective At the date of authorisation of these financial statements there were no mandatory amendments to standards which were in issue, but which were not yet effective.", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-155": { "value": "(k) Accounting standards issued The following amendments to standards were issued and adopted in the year, with no material impact on the financial statements (all effective for annual periods beginning on or after 1 January 2024): \u2022 Classification of Liabilities as Current or Non-Current (Amendments to IAS 1) \u2022 Lease Liability in a Sale and Leaseback (Amendments to IFRS 16) \u2022 Non-current Liabilities with Covenants (Amendments to IAS 1) \u2022 Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7) There were no other new accounting standards or amendments issued that have been adopted in the year. ", "dimensions": { "concept": "ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-156": { "value": "(l) Standards in issue but not yet effective At the date of authorisation of these financial statements there were no mandatory amendments to standards which were in issue, but which were not yet effective.", "dimensions": { "concept": "ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-134": { "value": "
3
Accounting estimates and judgements
In preparing the consolidated financial statements, the Directors have to make judgments on how to apply the
Group\u2019s accounting policies and make estimates about the future. The Directors do not consider there to be any
critical estimates or judgments that have been made in arriving at the amounts recognised in the consolidated
financial statements with the exception of the valuation of share-based payments. Please see Note 18 for further
details.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-135": { "value": "
4
Employees
Staff costs, including Directors, consist of:
2024
2023
\u00a3
\u00a3
Wages
and salaries
 246,411
87,884
Pension
costs
5,850
1,133
252,261
89,017
Pension costs related to the company\u2019s defined contribution pension scheme. Contributions outstanding at 31
December 2024 were \u00a3488 (2023: \u00a31,133).
2024
2023
Number
Number
average number of employees, including Directors, during the year was: 3
3
The
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-137": { "value": "5 Directors\u2019 remuneration
2024
2023
\u00a3
\u00a3
Directors\u2019
emoluments
50,000
50,000
50,000
50,000
The Chairman\u2019s fees are paid through Rise Rocks Limited, a Company wholly owned by the Chairman. The two Company Directors and the Company Chief Financial Officer are considered the only key management personnel. In 2024, the total emoluments for key management personnel were \u00a3252,261 (2023: \u00a389,017).
Transactions with key management personnel
Key management personnel comprise the Directors and executive officers. The remuneration of the individual
Directors is disclosed in the Report of the Directors and key management personnel in note 5.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-136": { "value": "
6
Operating
loss
2024
2023
\u00a3 \u00a3
This has been arrived at after charging:
Professional services 226,843 149,470
Acquisition related costs 60,031 1,018,601
Fees payable to the Company\u2019s independent auditor for the audit of the parent
and consolidated accounts 25,000 25,000
", "dimensions": { "concept": "ifrs-full:DisclosureOfProfitLossFromOperatingActivitiesExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-169": { "value": "6 Operating loss
2024
2023
\u00a3 \u00a3
This has been arrived at after charging:
Professional services 226,843 149,470
Acquisition related costs 60,031 1,018,601
Fees payable to the Company\u2019s independent auditor for the audit of the parent
and consolidated accounts 25,000 25,000
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-157": { "value": "6 Operating loss
2024
2023
\u00a3 \u00a3
This has been arrived at after charging:
Professional services 226,843 149,470
Acquisition related costs 60,031 1,018,601
Fees payable to the Company\u2019s independent auditor for the audit of the parent
and consolidated accounts 25,000 25,000
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-138": { "value": "
7
Taxation
2024
2023
\u00a3 \u00a3
Jersey corporation tax
Corporation tax on loss for the year \u2013 \u2013
Total taxation on loss on ordinary activities \u2013 \u2013
Deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against
which the deductible temporary differences and carry forward tax losses/credits can be utilised. Accordingly, the
Group has not recognised deferred tax assets in respect of deductible temporary differences and carry forward
tax losses as at 31 December 2024 and 31 December 2023 respectively, as it is not probable at year end that
relevant taxable profits will be available in the future. There are no expiry dates on these tax losses as at the year
end. The unrecognised deferred tax asset is summarised below:
Tax losses and unrecognised deferred tax asset carried forward
2024
2023
\u00a3
\u00a3
Cumulative
temporary differences and carry forward tax losses
2,417,707
1,867,091
Unrecognised
deferred tax asset on above at 10% (based on the
enacted
tax rate at the date of signing the financial statements)
241,771
186,709
", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-158": { "value": "7 Taxation
2024
2023
\u00a3 \u00a3
Jersey corporation tax
Corporation tax on loss for the year \u2013 \u2013
Total taxation on loss on ordinary activities \u2013 \u2013
Deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which the deductible temporary differences and carry forward tax losses/credits can be utilised. Accordingly, the Group has not recognised deferred tax assets in respect of deductible temporary differences and carry forward tax losses as at 31 December 2024 and 31 December 2023 respectively, as it is not probable at year end that relevant taxable profits will be available in the future. There are no expiry dates on these tax losses as at the year end. The unrecognised deferred tax asset is summarised below: Tax losses and unrecognised deferred tax asset carried forward
2024
2023
\u00a3
\u00a3
Cumulative
temporary differences and carry forward tax losses
2,417,707
1,867,091
Unrecognised
deferred tax asset on above at 10% (based on the
enacted
tax rate at the date of signing the financial statements)
241,771
186,709
", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-140": { "value": "
8
Earnings per share
Earnings per share is calculated by dividing the loss after tax for the year by the weighted average number of
shares in issue for the year, these figures being as follows:
2024
2023
\u00a3 \u00a3
Loss
used in basic and diluted EPS, being loss after tax
 (550,616) (1,306,686)
Adjustments:
Share-based payment charge
10,981
10,979
Adjusted
earnings used in adjusted EPS
(539,635)
(1,295,707)
The Subco Incentive Scheme share options (Note 18) have not been included in the diluted EPS on the basis that
they are anti-dilutive, however they may become dilutive in future periods.
2024
2023
Number Number
Weighted
average number of ordinary shares of 1p each used as the denominator
in calculating basic and diluted EPS
70,000,000 70,000,000
Loss
per share
Basic and diluted
(0.79p)
(1.87p)
Adjusted \u2013 basic and diluted
(0.77p)
(1.85p)
", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-139": { "value": "
9
Adjusted earnings before interest, tax, depreciation and amortisation
(Adjusted EBITDA)
2024
2023
\u00a3 \u00a3
Operating
loss
(587,513) (1,357,452)
EBITDA
loss
(587,513)
(1,357,452)
Share
-based payment charge
 10,981 10,979
Adjusted
EBITDA loss
(576,532) (1,346,473)
", "dimensions": { "concept": "baycapitalplc:DisclosureOfAdjustedEarningsBeforeInterestTaxDepreciationAndAmortisation", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-141": { "value": "
10
Subsidiaries
The Company directly owns the ordinary share capital of its subsidiary undertakings as set out below:
Proportion of
Proportion of
A ordinary
B ordinary
Nature
Country of
shares held
shares held
Subsidiary
of business
incorporation
by Company
by Company
Bay Capital Subco Limited
Intermediate
holding
Jersey, Channel
100 per cent.
0 per cent.
company
Islands
The address of the registered office of Bay Capital Subco Limited (the \u201cSubco\u201d) is 28 Esplanade, St. Helier, Channel
Islands, JE2 3QA, Jersey. The Subco was incorporated on 31 March 2021.
The A ordinary shares have full voting rights, full rights to participate in a dividend and full rights to participate in
a distribution of capital. The B ordinary shares have been issued pursuant to the Company\u2019s Subco Incentive
Scheme.
", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-170": { "value": "10 Subsidiaries The Company directly owns the ordinary share capital of its subsidiary undertakings as set out below:
Proportion of
Proportion of
A ordinary
B ordinary
Nature
Country of
shares held
shares held
Subsidiary
of business
incorporation
by Company
by Company
Bay Capital Subco Limited
Intermediate
holding
Jersey, Channel
100 per cent.
0 per cent.
company
Islands
The address of the registered office of Bay Capital Subco Limited (the \u201cSubco\u201d) is 28 Esplanade, St. Helier, Channel Islands, JE2 3QA, Jersey. The Subco was incorporated on 31 March 2021. The A ordinary shares have full voting rights, full rights to participate in a dividend and full rights to participate in a distribution of capital. The B ordinary shares have been issued pursuant to the Company\u2019s Subco Incentive Scheme.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-159": { "value": "10 Subsidiaries The Company directly owns the ordinary share capital of its subsidiary undertakings as set out below:
Proportion of
Proportion of
A ordinary
B ordinary
Nature
Country of
shares held
shares held
Subsidiary
of business
incorporation
by Company
by Company
Bay Capital Subco Limited
Intermediate
holding
Jersey, Channel
100 per cent.
0 per cent.
company
Islands
The address of the registered office of Bay Capital Subco Limited (the \u201cSubco\u201d) is 28 Esplanade, St. Helier, Channel Islands, JE2 3QA, Jersey. The Subco was incorporated on 31 March 2021. The A ordinary shares have full voting rights, full rights to participate in a dividend and full rights to participate in a distribution of capital. The B ordinary shares have been issued pursuant to the Company\u2019s Subco Incentive Scheme.", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-143": { "value": "
11
Cash and cash equivalents
2024
2023
\u00a3
\u00a3
Cash
and cash equivalents
 4,659,886
6,067,461
4,659,886
6,067,461
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-163": { "value": "11 Cash and cash equivalents
2024
2023
\u00a3
\u00a3
Cash
and cash equivalents
 4,659,886
6,067,461
4,659,886
6,067,461
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndBankBalancesAtCentralBanksExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-144": { "value": "
12 Trade and other receivables
2024
2023
\u00a3
\u00a3
Prepayments
9,011
8,079
9,011
8,079
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-160": { "value": "12 Trade and other receivables
2024
2023
\u00a3
\u00a3
Prepayments
9,011
8,079
9,011
8,079
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-171": { "value": "12 Trade and other receivables
2024
2023
\u00a3
\u00a3
Prepayments
9,011
8,079
9,011
8,079
", "dimensions": { "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-142": { "value": "
13
Trade and other payables
2024
2023
Current
trade
and
other
payables
\u00a3
\u00a3
Accruals
 80,100
948,263
Other
tax and social security
5,391
8,136
Payroll
related creditors
 6,175
2,275
91,666
958,674
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-177": { "value": "13 Trade and other payables
2024
2023
Current
trade
and
other
payables
\u00a3
\u00a3
Accruals
 80,100
948,263
Other
tax and social security
5,391
8,136
Payroll
related creditors
 6,175
2,275
91,666
958,674
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-172": { "value": "13 Trade and other payables
2024
2023
Current
trade
and
other
payables
\u00a3
\u00a3
Accruals
 80,100
948,263
Other
tax and social security
5,391
8,136
Payroll
related creditors
 6,175
2,275
91,666
958,674
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-161": { "value": "13 Trade and other payables
2024
2023
Current
trade
and
other
payables
\u00a3
\u00a3
Accruals
 80,100
948,263
Other
tax and social security
5,391
8,136
Payroll
related creditors
 6,175
2,275
91,666
958,674
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-164": { "value": "
14 Financial instruments
The Group\u2019s financial assets and liabilities mainly comprise cash, and trade and other payables. The carrying
value of all financial assets and liabilities equals fair value given their short term in nature.
Financial assets measured at
amortised cost
2024
2023
\u00a3
\u00a3
Current
financial
assets
Cash
and cash equivalents
4,659,886
6,067,461
4,659,886
6,067,461
Financial liabilities measured at
amortised cost
2024
2023
\u00a3
\u00a3
Current
financial
liabilities
Accruals
80,100
948,263
Payroll
related creditors
6,175
2,275
86,275
950,538
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-145": { "value": "14 Financial instruments The Group\u2019s financial assets and liabilities mainly comprise cash, and trade and other payables. The carrying value of all financial assets and liabilities equals fair value given their short term in nature.
Financial assets measured at
amortised cost
2024
2023
\u00a3
\u00a3
Current
financial
assets
Cash
and cash equivalents
4,659,886
6,067,461
4,659,886
6,067,461
Financial liabilities measured at
amortised cost
2024
2023
\u00a3
\u00a3
Current
financial
liabilities
Accruals
80,100
948,263
Payroll
related creditors
6,175
2,275
86,275
950,538
Credit risk The Group\u2019s credit risk is wholly attributable to its cash balance. All cash balances are held at a reputable bank in Jersey. The credit risk from its cash and cash equivalents is deemed to be low due to the nature and size of the balances held.
Liquidity risk
Liquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due.
The Group\u2019s approach to liquidity risk is to ensure that sufficient liquidity is available to meet foreseeable
requirements and to invest funds securely and profitably.
The following table details the contractual maturity of financial liabilities based on the dates the liabilities are due
to be settled:
Financial liabilities:
Less More
than 1 year
2 to 5 Years
than 5 years
Total
\u00a3
\u00a3
\u00a3
\u00a3
Accruals
80,100 \u2013 \u2013
80,100
Payroll
related creditors
6,175 \u2013 \u2013
6,175
At
31 December 2024
86,275 \u2013 \u2013
86,275
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-174": { "value": "14 Financial instruments The Group\u2019s financial assets and liabilities mainly comprise cash, and trade and other payables. The carrying value of all financial assets and liabilities equals fair value given their short term in nature.
Financial assets measured at
amortised cost
2024
2023
\u00a3
\u00a3
Current
financial
assets
Cash
and cash equivalents
4,659,886
6,067,461
4,659,886
6,067,461
Financial liabilities measured at
amortised cost
2024
2023
\u00a3
\u00a3
Current
financial
liabilities
Accruals
80,100
948,263
Payroll
related creditors
6,175
2,275
86,275
950,538
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-162": { "value": "
Credit risk
The Group\u2019s credit risk is wholly attributable to its cash balance. All cash balances are held at a reputable bank in
Jersey. The credit risk from its cash and cash equivalents is deemed to be low due to the nature and size of the
balances held.
Liquidity risk Liquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due. The Group\u2019s approach to liquidity risk is to ensure that sufficient liquidity is available to meet foreseeable requirements and to invest funds securely and profitably. The following table details the contractual maturity of financial liabilities based on the dates the liabilities are due to be settled: Financial liabilities:
Less More
than 1 year
2 to 5 Years
than 5 years
Total
\u00a3
\u00a3
\u00a3
\u00a3
Accruals
80,100 \u2013 \u2013
80,100
Payroll
related creditors
6,175 \u2013 \u2013
6,175
At
31 December 2024
86,275 \u2013 \u2013
86,275
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-173": { "value": "Credit risk The Group\u2019s credit risk is wholly attributable to its cash balance. All cash balances are held at a reputable bank in Jersey. The credit risk from its cash and cash equivalents is deemed to be low due to the nature and size of the balances held. ", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-175": { "value": "Liquidity risk Liquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due. The Group\u2019s approach to liquidity risk is to ensure that sufficient liquidity is available to meet foreseeable requirements and to invest funds securely and profitably. The following table details the contractual maturity of financial liabilities based on the dates the liabilities are due to be settled: Financial liabilities:
Less More
than 1 year
2 to 5 Years
than 5 years
Total
\u00a3
\u00a3
\u00a3
\u00a3
Accruals
80,100 \u2013 \u2013
80,100
Payroll
related creditors
6,175 \u2013 \u2013
6,175
At
31 December 2024
86,275 \u2013 \u2013
86,275
", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-146": { "value": "
15 Share capital
Allotted, called up and fully paid
2024 2023 2024
2023
Number Number \u00a3
\u00a3
Ordinary
shares of 1p each:
70,000,000
70,000,000 700,000
700,000
At
31 December
70,000,000 70,000,000 700,000
700,000
", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-165": { "value": "15 Share capital
Allotted, called up and fully paid
2024 2023 2024
2023
Number Number \u00a3
\u00a3
Ordinary
shares of 1p each:
70,000,000
70,000,000 700,000
700,000
At
31 December
70,000,000 70,000,000 700,000
700,000
16 Reserves Share premium and retained earnings represent balances conventionally attributed to those descriptions. The transaction costs relating to the issue of shares was deducted from share premium. Capital redemption reserve includes amounts in relation to deferred shared capital. The Group having no regulatory capital or similar requirements, its primary capital management focus is on maximising earnings per share and therefore shareholder return. The Directors have proposed that there will be no final dividend in respect of 2024 (2023: \u00a3Nil).", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-147": { "value": "
16
Reserves
Share premium and retained earnings represent balances conventionally attributed to those descriptions. The
transaction costs relating to the issue of shares was deducted from share premium.
Capital redemption reserve includes amounts in relation to deferred shared capital.
The Group having no regulatory capital or similar requirements, its primary capital management focus is on
maximising earnings per share and therefore shareholder return.
The Directors have proposed that there will be no final dividend in respect of 2024 (2023: \u00a3Nil).
", "dimensions": { "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-148": { "value": "
17
Share Incentive Plan
On 14 September 2021, the Group created a Subco Incentive Scheme within its wholly owned subsidiary Bay
Capital Subco Limited (\u201cSubco\u201d). Under the terms of the Subco Incentive Scheme, scheme participants are only
rewarded if a predetermined level of shareholder value is created over a three to five year period or upon a change
of control of the Company or Subco (whichever occurs first), calculated on a formula basis by reference to the
growth in market capitalisation of the Company, following adjustments for the issue of any new Ordinary shares
and taking into account dividends and capital returns (\u201cShareholder Value\u201d), realised by the exercise by the
beneficiaries of a put option in respect of their shares in Subco and satisfied either in cash or by the issue of new
ordinary shares at the election of the Company.
Under these arrangements in place, participants are entitled to up to a share of 15 percent of the Shareholder
Value created, subject to such Shareholder Value having increased by at least 10 percent. per annum compounded
over a period of between three and five years from admission or following a change of control of the Company or
Subco.
", "dimensions": { "concept": "baycapitalplc:DisclosureOfShareIncentivePlan", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-149": { "value": "
18
Share-based payments
The Subco Incentive Scheme detailed in Note 17 is an equity-settled share option plan which allows employees
and advisors of the Group to sell their B shares to the Company in exchange for a cash payment or for shares in
the Company (at the Company\u2019s election) if certain conditions are met.
These conditions include good and bad leaver provisions and that growth in Shareholder Value of 10 percent
compound per annum is delivered over a three to five year period for the scheme to vest. This second condition
is therefore a market condition which has been taken into account in the measurement at grant date of the fair
value of the options.
The weighted average exercise price of the outstanding B share options is \u00a30.10 which have a weighted average
contractual life remaining of 1 years 9 months. 110,000 B share options were issued in the nine-month period to
31 December 2021, all of which were outstanding at the current year end. No B share options were exercised in
the current or prior period. No B share options have expired during the current or prior period.
The Group recognised \u00a310,981 (2023: \u00a310,979) of expenditure statement of total comprehensive income in
relation to equity-settled share-based payments in the year.
The fair value of options was determined by applying a binominal model. The expense is apportioned over the
vesting period of the option and is based on the number which are expected to vest and the fair value of these
options at the date of grant.
The inputs into the binomial model in respect of options granted in the prior period are as follows:
Opening share price
10.0p
Expected volatility of share price 16.67%
Expected life of options 5 years
Risk-free rate 0.73%
Target increase in share price per annum 10%
Fair value of options
50.342p
Expected volatility was estimated by reference to the average 5-year volatility of the FTSE SmallCap Index.
The target increase in Shareholder Value is laid out in the Articles of Association of the Subco and represents the
compounded target annual increase in market capitalisation (adjusted for capital raises and dividends) that needs
to be met between the third and fifth anniversary of the Group\u2019s admission onto the London Stock Exchange in
order for the scheme to vest.
The Group did not enter into any share-based payment transactions with parties other than employees and
advisors during the current or prior period.
", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-176": { "value": "19 Related party transactions Transactions with key management personnel Key management personnel comprise the Directors and executive officers. The remuneration of the individual Directors is disclosed in the Report of the Directors and key management personnel in note 5.", "dimensions": { "concept": "ifrs-full:DisclosureOfTransactionsBetweenRelatedPartiesExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-166": { "value": "19 Related party transactions Transactions with key management personnel Key management personnel comprise the Directors and executive officers. The remuneration of the individual Directors is disclosed in the Report of the Directors and key management personnel in note 5.", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-150": { "value": "
20
Post balance sheet events
There are no events subsequent to the reporting date which would have a material impact on the financial
statements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-151": { "value": "
21
Contingent
liabilities
There are no contingent liabilities at the reporting date which would have a material impact on the financial
statements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "fact-167": { "value": "21 Contingent liabilities There are no contingent liabilities at the reporting date which would have a material impact on the financial statements.", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800F59868OZQU6E56", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } } } }