{
"documentInfo": {
"documentType": "https://xbrl.org/2021/xbrl-json",
"features": {
"xbrl:canonicalValues": true
},
"namespaces": {
"ifrs-full": "http://xbrl.ifrs.org/taxonomy/2021-03-24/ifrs-full",
"iso4217": "http://www.xbrl.org/2003/iso4217",
"qinetiqgroupplc": "http://qinetiqgroupplc.com/xbrl/2023",
"scheme": "http://standards.iso.org/iso/17442",
"xbrl": "https://xbrl.org/2021",
"xbrli": "http://www.xbrl.org/2003/instance"
},
"taxonomy": [
"http://qinetiqgroupplc.com/xbrl/2023/qinetiqgroupplc-2023-03-31.xsd"
]
},
"facts": {
"fact-1": {
"value": "QinetiQ Group plc",
"dimensions": {
"concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-2": {
"value": "We are a leading science and engineering company operating in the defence and security markets. We are an information, knowledge and technology-based company with the breadth and depth of over 8,000 highly dedicated employees.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-3": {
"value": "1580700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Revenue",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-4": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Revenue",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-5": {
"value": "1580700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Revenue",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-6": {
"value": "1320400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Revenue",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-7": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Revenue",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-8": {
"value": "1320400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Revenue",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-9": {
"value": "1353400000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:OtherOperatingCostsExcludingDepreciationAndAmortisation",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-10": {
"value": "29500000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:OtherOperatingCostsExcludingDepreciationAndAmortisation",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-11": {
"value": "1382900000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:OtherOperatingCostsExcludingDepreciationAndAmortisation",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-12": {
"value": "1140700000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:OtherOperatingCostsExcludingDepreciationAndAmortisation",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-13": {
"value": "8700000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:OtherOperatingCostsExcludingDepreciationAndAmortisation",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-14": {
"value": "1149400000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:OtherOperatingCostsExcludingDepreciationAndAmortisation",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-15": {
"value": "28000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-16": {
"value": "21600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-17": {
"value": "49600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-18": {
"value": "16000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-19": {
"value": "700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-20": {
"value": "16700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-21": {
"value": "255300000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:EBITDAEarningsBeforeInterestTaxDepreciationAndAmortisation",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-22": {
"value": "-7900000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:EBITDAEarningsBeforeInterestTaxDepreciationAndAmortisation",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-23": {
"value": "247400000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:EBITDAEarningsBeforeInterestTaxDepreciationAndAmortisation",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-24": {
"value": "195700000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:EBITDAEarningsBeforeInterestTaxDepreciationAndAmortisation",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-25": {
"value": "-8000000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:EBITDAEarningsBeforeInterestTaxDepreciationAndAmortisation",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-26": {
"value": "187700000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:EBITDAEarningsBeforeInterestTaxDepreciationAndAmortisation",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-27": {
"value": "51500000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:DepreciationAndImpairmentOfPropertyPlantAndEquipment",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-28": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:DepreciationAndImpairmentOfPropertyPlantAndEquipment",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-29": {
"value": "51500000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:DepreciationAndImpairmentOfPropertyPlantAndEquipment",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-30": {
"value": "46700000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:DepreciationAndImpairmentOfPropertyPlantAndEquipment",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-31": {
"value": "1200000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:DepreciationAndImpairmentOfPropertyPlantAndEquipment",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-32": {
"value": "47900000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:DepreciationAndImpairmentOfPropertyPlantAndEquipment",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-33": {
"value": "7500000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:AmortisationAndImpairmentOfIntangibleAssets",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-34": {
"value": "15600000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:AmortisationAndImpairmentOfIntangibleAssets",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-35": {
"value": "23100000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:AmortisationAndImpairmentOfIntangibleAssets",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-36": {
"value": "5400000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:AmortisationAndImpairmentOfIntangibleAssets",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-37": {
"value": "10700000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:AmortisationAndImpairmentOfIntangibleAssets",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-38": {
"value": "16100000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:AmortisationAndImpairmentOfIntangibleAssets",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-39": {
"value": "196300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromOperatingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-40": {
"value": "-23500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromOperatingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-41": {
"value": "172800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromOperatingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-42": {
"value": "143600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromOperatingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-43": {
"value": "-19900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromOperatingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-44": {
"value": "123700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromOperatingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-45": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:GainLossOnBusinessDivestments",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-46": {
"value": "15900000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:GainLossOnBusinessDivestments",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-47": {
"value": "15900000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:GainLossOnBusinessDivestments",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-48": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:GainLossOnBusinessDivestments",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-49": {
"value": "-900000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:GainLossOnBusinessDivestments",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-50": {
"value": "-900000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:GainLossOnBusinessDivestments",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-51": {
"value": "6800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:FinanceIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-52": {
"value": "9900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:FinanceIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-53": {
"value": "16700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:FinanceIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-54": {
"value": "500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:FinanceIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-55": {
"value": "4500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:FinanceIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-56": {
"value": "5000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:FinanceIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-57": {
"value": "13400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:FinanceCosts",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-58": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:FinanceCosts",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-59": {
"value": "13400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:FinanceCosts",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-60": {
"value": "1900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:FinanceCosts",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-61": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:FinanceCosts",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-62": {
"value": "1900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:FinanceCosts",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-63": {
"value": "189700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-64": {
"value": "2300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-65": {
"value": "192000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-66": {
"value": "142200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-67": {
"value": "-16300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-68": {
"value": "125900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-69": {
"value": "36800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-70": {
"value": "800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-71": {
"value": "37600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-72": {
"value": "24100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-73": {
"value": "11800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-74": {
"value": "35900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-75": {
"value": "152900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-76": {
"value": "1500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-77": {
"value": "154400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-78": {
"value": "118100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-79": {
"value": "-28100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-80": {
"value": "90000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-81": {
"value": "152900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-82": {
"value": "1500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-83": {
"value": "154400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-84": {
"value": "118100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-85": {
"value": "-28100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-86": {
"value": "90000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-87": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-88": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-89": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-90": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-91": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-92": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-93": {
"value": "152900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-94": {
"value": "1500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-95": {
"value": "154400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-96": {
"value": "118100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP"
}
},
"fact-97": {
"value": "-28100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:SpecificAdjustingItemsMember",
"unit": "iso4217:GBP"
}
},
"fact-98": {
"value": "90000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-99": {
"value": "0.265",
"decimals": 3,
"dimensions": {
"concept": "ifrs-full:BasicEarningsLossPerShare",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP/xbrli:shares"
}
},
"fact-100": {
"value": "0.268",
"decimals": 3,
"dimensions": {
"concept": "ifrs-full:BasicEarningsLossPerShare",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP/xbrli:shares"
}
},
"fact-101": {
"value": "0.206",
"decimals": 3,
"dimensions": {
"concept": "ifrs-full:BasicEarningsLossPerShare",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP/xbrli:shares"
}
},
"fact-102": {
"value": "0.157",
"decimals": 3,
"dimensions": {
"concept": "ifrs-full:BasicEarningsLossPerShare",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP/xbrli:shares"
}
},
"fact-103": {
"value": "0.263",
"decimals": 3,
"dimensions": {
"concept": "ifrs-full:DilutedEarningsLossPerShare",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP/xbrli:shares"
}
},
"fact-104": {
"value": "0.265",
"decimals": 3,
"dimensions": {
"concept": "ifrs-full:DilutedEarningsLossPerShare",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP/xbrli:shares"
}
},
"fact-105": {
"value": "0.204",
"decimals": 3,
"dimensions": {
"concept": "ifrs-full:DilutedEarningsLossPerShare",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"qinetiqgroupplc:ConsolidatedIncomeStatementAxis": "qinetiqgroupplc:UnderlyingMember",
"unit": "iso4217:GBP/xbrli:shares"
}
},
"fact-106": {
"value": "0.155",
"decimals": 3,
"dimensions": {
"concept": "ifrs-full:DilutedEarningsLossPerShare",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP/xbrli:shares"
}
},
"fact-107": {
"value": "154400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-108": {
"value": "90000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-109": {
"value": "-253900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-110": {
"value": "144000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-111": {
"value": "-63500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-112": {
"value": "47600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-113": {
"value": "-190400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-114": {
"value": "96400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-115": {
"value": "-6500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-116": {
"value": "5600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-117": {
"value": "500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-118": {
"value": "800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-119": {
"value": "7800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnCashFlowHedgesBeforeTax",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-120": {
"value": "600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:GainsLossesOnCashFlowHedgesBeforeTax",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-121": {
"value": "1600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-122": {
"value": "100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-123": {
"value": "-800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-124": {
"value": "5300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-125": {
"value": "-191200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-126": {
"value": "101700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-127": {
"value": "-36800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-128": {
"value": "191700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-129": {
"value": "-36800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-130": {
"value": "191500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-131": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-132": {
"value": "200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-133": {
"value": "-36800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-134": {
"value": "191700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-135": {
"value": "5800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:GBP"
}
},
"fact-136": {
"value": "40800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:GBP"
}
},
"fact-137": {
"value": "147600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:GBP"
}
},
"fact-138": {
"value": "100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:GBP"
}
},
"fact-139": {
"value": "1900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:GBP"
}
},
"fact-140": {
"value": "847000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:GBP"
}
},
"fact-141": {
"value": "1043200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:GBP"
}
},
"fact-142": {
"value": "200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:GBP"
}
},
"fact-143": {
"value": "1043400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:GBP"
}
},
"fact-144": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:FinancialEffectOfChangesInAccountingPolicyMember",
"unit": "iso4217:GBP"
}
},
"fact-145": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:FinancialEffectOfChangesInAccountingPolicyMember",
"unit": "iso4217:GBP"
}
},
"fact-146": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:FinancialEffectOfChangesInAccountingPolicyMember",
"unit": "iso4217:GBP"
}
},
"fact-147": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:FinancialEffectOfChangesInAccountingPolicyMember",
"unit": "iso4217:GBP"
}
},
"fact-148": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:FinancialEffectOfChangesInAccountingPolicyMember",
"unit": "iso4217:GBP"
}
},
"fact-149": {
"value": "-2000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:FinancialEffectOfChangesInAccountingPolicyMember",
"unit": "iso4217:GBP"
}
},
"fact-150": {
"value": "-2000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:FinancialEffectOfChangesInAccountingPolicyMember",
"unit": "iso4217:GBP"
}
},
"fact-151": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:FinancialEffectOfChangesInAccountingPolicyMember",
"unit": "iso4217:GBP"
}
},
"fact-152": {
"value": "-2000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:FinancialEffectOfChangesInAccountingPolicyMember",
"unit": "iso4217:GBP"
}
},
"fact-153": {
"value": "5800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:GBP"
}
},
"fact-154": {
"value": "40800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember",
"unit": "iso4217:GBP"
}
},
"fact-155": {
"value": "147600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:GBP"
}
},
"fact-156": {
"value": "100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:GBP"
}
},
"fact-157": {
"value": "1900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:GBP"
}
},
"fact-158": {
"value": "845000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:GBP"
}
},
"fact-159": {
"value": "1041200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:GBP"
}
},
"fact-160": {
"value": "200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:GBP"
}
},
"fact-161": {
"value": "1041400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-162": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:GBP"
}
},
"fact-163": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember",
"unit": "iso4217:GBP"
}
},
"fact-164": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:GBP"
}
},
"fact-165": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:GBP"
}
},
"fact-166": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:GBP"
}
},
"fact-167": {
"value": "154400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:GBP"
}
},
"fact-168": {
"value": "154400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:GBP"
}
},
"fact-169": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:GBP"
}
},
"fact-170": {
"value": "154400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-171": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:GBP"
}
},
"fact-172": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember",
"unit": "iso4217:GBP"
}
},
"fact-173": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:GBP"
}
},
"fact-174": {
"value": "6200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:GBP"
}
},
"fact-175": {
"value": "-7000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:GBP"
}
},
"fact-176": {
"value": "-190400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:GBP"
}
},
"fact-177": {
"value": "-191200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:GBP"
}
},
"fact-178": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:GBP"
}
},
"fact-179": {
"value": "-191200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-180": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:GBP"
}
},
"fact-181": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember",
"unit": "iso4217:GBP"
}
},
"fact-182": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:GBP"
}
},
"fact-183": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:GBP"
}
},
"fact-184": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:GBP"
}
},
"fact-185": {
"value": "800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:GBP"
}
},
"fact-186": {
"value": "800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:GBP"
}
},
"fact-187": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:GBP"
}
},
"fact-188": {
"value": "800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-189": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:GBP"
}
},
"fact-190": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember",
"unit": "iso4217:GBP"
}
},
"fact-191": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:GBP"
}
},
"fact-192": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:GBP"
}
},
"fact-193": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:GBP"
}
},
"fact-194": {
"value": "5700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:GBP"
}
},
"fact-195": {
"value": "5700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:GBP"
}
},
"fact-196": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:GBP"
}
},
"fact-197": {
"value": "5700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-198": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:GBP"
}
},
"fact-199": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember",
"unit": "iso4217:GBP"
}
},
"fact-200": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:GBP"
}
},
"fact-201": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:GBP"
}
},
"fact-202": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:GBP"
}
},
"fact-203": {
"value": "-700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:GBP"
}
},
"fact-204": {
"value": "-700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:GBP"
}
},
"fact-205": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:GBP"
}
},
"fact-206": {
"value": "-700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-207": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:MovementsOnBusinessDivestment",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:GBP"
}
},
"fact-208": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:MovementsOnBusinessDivestment",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember",
"unit": "iso4217:GBP"
}
},
"fact-209": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:MovementsOnBusinessDivestment",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:GBP"
}
},
"fact-210": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:MovementsOnBusinessDivestment",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:GBP"
}
},
"fact-211": {
"value": "900000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:MovementsOnBusinessDivestment",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:GBP"
}
},
"fact-212": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:MovementsOnBusinessDivestment",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:GBP"
}
},
"fact-213": {
"value": "900000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:MovementsOnBusinessDivestment",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:GBP"
}
},
"fact-214": {
"value": "-200000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:MovementsOnBusinessDivestment",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:GBP"
}
},
"fact-215": {
"value": "700000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:MovementsOnBusinessDivestment",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-216": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:GBP"
}
},
"fact-217": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember",
"unit": "iso4217:GBP"
}
},
"fact-218": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:GBP"
}
},
"fact-219": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:GBP"
}
},
"fact-220": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:GBP"
}
},
"fact-221": {
"value": "42600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:GBP"
}
},
"fact-222": {
"value": "42600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:GBP"
}
},
"fact-223": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:GBP"
}
},
"fact-224": {
"value": "42600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-225": {
"value": "5800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:GBP"
}
},
"fact-226": {
"value": "40800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember",
"unit": "iso4217:GBP"
}
},
"fact-227": {
"value": "147600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:GBP"
}
},
"fact-228": {
"value": "6300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:GBP"
}
},
"fact-229": {
"value": "-4200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:GBP"
}
},
"fact-230": {
"value": "772000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:GBP"
}
},
"fact-231": {
"value": "968300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:GBP"
}
},
"fact-232": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:GBP"
}
},
"fact-233": {
"value": "968300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-234": {
"value": "5700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:GBP"
}
},
"fact-235": {
"value": "40800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:GBP"
}
},
"fact-236": {
"value": "147600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:GBP"
}
},
"fact-237": {
"value": "-400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:GBP"
}
},
"fact-238": {
"value": "-2900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:GBP"
}
},
"fact-239": {
"value": "693800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:GBP"
}
},
"fact-240": {
"value": "884600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:GBP"
}
},
"fact-241": {
"value": "300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:GBP"
}
},
"fact-242": {
"value": "884900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:PreviouslyStatedMember",
"unit": "iso4217:GBP"
}
},
"fact-243": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:FinancialEffectOfChangesInAccountingPolicyMember",
"unit": "iso4217:GBP"
}
},
"fact-244": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:FinancialEffectOfChangesInAccountingPolicyMember",
"unit": "iso4217:GBP"
}
},
"fact-245": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:FinancialEffectOfChangesInAccountingPolicyMember",
"unit": "iso4217:GBP"
}
},
"fact-246": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:FinancialEffectOfChangesInAccountingPolicyMember",
"unit": "iso4217:GBP"
}
},
"fact-247": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:FinancialEffectOfChangesInAccountingPolicyMember",
"unit": "iso4217:GBP"
}
},
"fact-248": {
"value": "-2000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:FinancialEffectOfChangesInAccountingPolicyMember",
"unit": "iso4217:GBP"
}
},
"fact-249": {
"value": "-2000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:FinancialEffectOfChangesInAccountingPolicyMember",
"unit": "iso4217:GBP"
}
},
"fact-250": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:FinancialEffectOfChangesInAccountingPolicyMember",
"unit": "iso4217:GBP"
}
},
"fact-251": {
"value": "-2000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"ifrs-full:RetrospectiveApplicationAndRetrospectiveRestatementAxis": "ifrs-full:FinancialEffectOfChangesInAccountingPolicyMember",
"unit": "iso4217:GBP"
}
},
"fact-252": {
"value": "5700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:GBP"
}
},
"fact-253": {
"value": "40800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember",
"unit": "iso4217:GBP"
}
},
"fact-254": {
"value": "147600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:GBP"
}
},
"fact-255": {
"value": "-400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:GBP"
}
},
"fact-256": {
"value": "-2900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:GBP"
}
},
"fact-257": {
"value": "691800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:GBP"
}
},
"fact-258": {
"value": "882600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:GBP"
}
},
"fact-259": {
"value": "300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:GBP"
}
},
"fact-260": {
"value": "882900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-261": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:GBP"
}
},
"fact-262": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember",
"unit": "iso4217:GBP"
}
},
"fact-263": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:GBP"
}
},
"fact-264": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:GBP"
}
},
"fact-265": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:GBP"
}
},
"fact-266": {
"value": "90000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:GBP"
}
},
"fact-267": {
"value": "90000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:GBP"
}
},
"fact-268": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:GBP"
}
},
"fact-269": {
"value": "90000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-270": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:GBP"
}
},
"fact-271": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember",
"unit": "iso4217:GBP"
}
},
"fact-272": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:GBP"
}
},
"fact-273": {
"value": "500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:GBP"
}
},
"fact-274": {
"value": "4800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:GBP"
}
},
"fact-275": {
"value": "96400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:GBP"
}
},
"fact-276": {
"value": "101700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:GBP"
}
},
"fact-277": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:GBP"
}
},
"fact-278": {
"value": "101700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-279": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:GBP"
}
},
"fact-280": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember",
"unit": "iso4217:GBP"
}
},
"fact-281": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:GBP"
}
},
"fact-282": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:GBP"
}
},
"fact-283": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:GBP"
}
},
"fact-284": {
"value": "800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:GBP"
}
},
"fact-285": {
"value": "800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:GBP"
}
},
"fact-286": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:GBP"
}
},
"fact-287": {
"value": "800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfTreasuryShares",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-288": {
"value": "100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IssueOfEquity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:GBP"
}
},
"fact-289": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IssueOfEquity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember",
"unit": "iso4217:GBP"
}
},
"fact-290": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IssueOfEquity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:GBP"
}
},
"fact-291": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IssueOfEquity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:GBP"
}
},
"fact-292": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IssueOfEquity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:GBP"
}
},
"fact-293": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IssueOfEquity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:GBP"
}
},
"fact-294": {
"value": "100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IssueOfEquity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:GBP"
}
},
"fact-295": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IssueOfEquity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:GBP"
}
},
"fact-296": {
"value": "100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IssueOfEquity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-297": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:GBP"
}
},
"fact-298": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember",
"unit": "iso4217:GBP"
}
},
"fact-299": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:GBP"
}
},
"fact-300": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:GBP"
}
},
"fact-301": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:GBP"
}
},
"fact-302": {
"value": "7400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:GBP"
}
},
"fact-303": {
"value": "7400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:GBP"
}
},
"fact-304": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:GBP"
}
},
"fact-305": {
"value": "7400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-306": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:GBP"
}
},
"fact-307": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember",
"unit": "iso4217:GBP"
}
},
"fact-308": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:GBP"
}
},
"fact-309": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:GBP"
}
},
"fact-310": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:GBP"
}
},
"fact-311": {
"value": "300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:GBP"
}
},
"fact-312": {
"value": "300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:GBP"
}
},
"fact-313": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:GBP"
}
},
"fact-314": {
"value": "300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DecreaseIncreaseThroughTaxOnSharebasedPaymentTransactions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-315": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:FairValueAdjustmentInRespectOfEquityBasedContingentConsideration",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:GBP"
}
},
"fact-316": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:FairValueAdjustmentInRespectOfEquityBasedContingentConsideration",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember",
"unit": "iso4217:GBP"
}
},
"fact-317": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:FairValueAdjustmentInRespectOfEquityBasedContingentConsideration",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:GBP"
}
},
"fact-318": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:FairValueAdjustmentInRespectOfEquityBasedContingentConsideration",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:GBP"
}
},
"fact-319": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:FairValueAdjustmentInRespectOfEquityBasedContingentConsideration",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:GBP"
}
},
"fact-320": {
"value": "700000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:FairValueAdjustmentInRespectOfEquityBasedContingentConsideration",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:GBP"
}
},
"fact-321": {
"value": "700000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:FairValueAdjustmentInRespectOfEquityBasedContingentConsideration",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:GBP"
}
},
"fact-322": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:FairValueAdjustmentInRespectOfEquityBasedContingentConsideration",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:GBP"
}
},
"fact-323": {
"value": "700000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:FairValueAdjustmentInRespectOfEquityBasedContingentConsideration",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-324": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:GBP"
}
},
"fact-325": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember",
"unit": "iso4217:GBP"
}
},
"fact-326": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:GBP"
}
},
"fact-327": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:GBP"
}
},
"fact-328": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:GBP"
}
},
"fact-329": {
"value": "40200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:GBP"
}
},
"fact-330": {
"value": "40200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:GBP"
}
},
"fact-331": {
"value": "100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:GBP"
}
},
"fact-332": {
"value": "40300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-333": {
"value": "5800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:GBP"
}
},
"fact-334": {
"value": "40800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:CapitalRedemptionReserveMember",
"unit": "iso4217:GBP"
}
},
"fact-335": {
"value": "147600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:GBP"
}
},
"fact-336": {
"value": "100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember",
"unit": "iso4217:GBP"
}
},
"fact-337": {
"value": "1900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:GBP"
}
},
"fact-338": {
"value": "845000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
"unit": "iso4217:GBP"
}
},
"fact-339": {
"value": "1041200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:GBP"
}
},
"fact-340": {
"value": "200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:GBP"
}
},
"fact-341": {
"value": "1041400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-342": {
"value": "409000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Goodwill",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-343": {
"value": "149400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Goodwill",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-344": {
"value": "145500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Goodwill",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-345": {
"value": "343000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IntangibleAssetsOtherThanGoodwill",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-346": {
"value": "140300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IntangibleAssetsOtherThanGoodwill",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-347": {
"value": "133100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IntangibleAssetsOtherThanGoodwill",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-348": {
"value": "477800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PropertyPlantAndEquipment",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-349": {
"value": "414500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PropertyPlantAndEquipment",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-350": {
"value": "397200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PropertyPlantAndEquipment",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-351": {
"value": "6200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentFinancialAssets",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-352": {
"value": "500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentFinancialAssets",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-353": {
"value": "800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentFinancialAssets",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-354": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentFinancialAssetsAtFairValueThroughProfitOrLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-355": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentFinancialAssetsAtFairValueThroughProfitOrLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-356": {
"value": "900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentFinancialAssetsAtFairValueThroughProfitOrLoss",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-357": {
"value": "1400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:InvestmentAccountedForUsingEquityMethod",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-358": {
"value": "2600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:InvestmentAccountedForUsingEquityMethod",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-359": {
"value": "4200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:InvestmentAccountedForUsingEquityMethod",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-360": {
"value": "119800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentRecognisedAssetsDefinedBenefitPlan",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-361": {
"value": "362200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentRecognisedAssetsDefinedBenefitPlan",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-362": {
"value": "214300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentRecognisedAssetsDefinedBenefitPlan",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-363": {
"value": "32600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DeferredTaxAssets",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-364": {
"value": "21000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DeferredTaxAssets",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-365": {
"value": "11700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DeferredTaxAssets",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-366": {
"value": "1389800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentAssets",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-367": {
"value": "1090500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentAssets",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-368": {
"value": "907700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentAssets",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-369": {
"value": "68800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Inventories",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-370": {
"value": "54900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Inventories",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-371": {
"value": "54400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Inventories",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-372": {
"value": "5700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherCurrentFinancialAssets",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-373": {
"value": "600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherCurrentFinancialAssets",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-374": {
"value": "900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherCurrentFinancialAssets",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-375": {
"value": "452600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherCurrentReceivables",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-376": {
"value": "373200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherCurrentReceivables",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-377": {
"value": "338500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherCurrentReceivables",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-378": {
"value": "4000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentTaxAssets",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-379": {
"value": "1400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentTaxAssets",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-380": {
"value": "700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentTaxAssets",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-381": {
"value": "151200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-382": {
"value": "248100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-383": {
"value": "190100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-384": {
"value": "682300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentAssets",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-385": {
"value": "678200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentAssets",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-386": {
"value": "584600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentAssets",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-387": {
"value": "2072100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Assets",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-388": {
"value": "1768700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Assets",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-389": {
"value": "1492300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Assets",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-390": {
"value": "575200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherCurrentPayables",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-391": {
"value": "474700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherCurrentPayables",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-392": {
"value": "424300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherCurrentPayables",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-393": {
"value": "4600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentTaxLiabilities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-394": {
"value": "5900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentTaxLiabilities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-395": {
"value": "3700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentTaxLiabilities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-396": {
"value": "19700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentProvisions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-397": {
"value": "21100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentProvisions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-398": {
"value": "4200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentProvisions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-399": {
"value": "8200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherCurrentFinancialLiabilities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-400": {
"value": "6900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherCurrentFinancialLiabilities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-401": {
"value": "7000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherCurrentFinancialLiabilities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-402": {
"value": "607700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentLiabilities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-403": {
"value": "508600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentLiabilities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-404": {
"value": "439200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CurrentLiabilities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-405": {
"value": "112000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DeferredTaxLiabilities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-406": {
"value": "156700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DeferredTaxLiabilities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-407": {
"value": "89700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DeferredTaxLiabilities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-408": {
"value": "7100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentProvisions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-409": {
"value": "6000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentProvisions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-410": {
"value": "7800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentProvisions",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-411": {
"value": "361800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentFinancialLiabilities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-412": {
"value": "17200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentFinancialLiabilities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-413": {
"value": "20700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentFinancialLiabilities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-414": {
"value": "15200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentPayables",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-415": {
"value": "38800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentPayables",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-416": {
"value": "52000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentPayables",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-417": {
"value": "496100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentLiabilities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-418": {
"value": "218700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentLiabilities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-419": {
"value": "170200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncurrentLiabilities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-420": {
"value": "1103800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Liabilities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-421": {
"value": "727300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Liabilities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-422": {
"value": "609400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Liabilities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-423": {
"value": "968300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NetAssetsLiabilities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-424": {
"value": "1041400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NetAssetsLiabilities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-425": {
"value": "882900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NetAssetsLiabilities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-426": {
"value": "5800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IssuedCapital",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-427": {
"value": "5800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IssuedCapital",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-428": {
"value": "5700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IssuedCapital",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-429": {
"value": "40800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CapitalRedemptionReserve",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-430": {
"value": "40800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CapitalRedemptionReserve",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-431": {
"value": "40800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CapitalRedemptionReserve",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-432": {
"value": "147600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:SharePremium",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-433": {
"value": "147600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:SharePremium",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-434": {
"value": "147600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:SharePremium",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-435": {
"value": "6300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ReserveOfCashFlowHedges",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-436": {
"value": "100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ReserveOfCashFlowHedges",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-437": {
"value": "-400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ReserveOfCashFlowHedges",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-438": {
"value": "-4200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ReserveOfExchangeDifferencesOnTranslation",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-439": {
"value": "1900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ReserveOfExchangeDifferencesOnTranslation",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-440": {
"value": "-2900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:ReserveOfExchangeDifferencesOnTranslation",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-441": {
"value": "772000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:RetainedEarnings",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-442": {
"value": "845000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:RetainedEarnings",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-443": {
"value": "691800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:RetainedEarnings",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-444": {
"value": "968300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:EquityAttributableToOwnersOfParent",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-445": {
"value": "1041200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:EquityAttributableToOwnersOfParent",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-446": {
"value": "882600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:EquityAttributableToOwnersOfParent",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-447": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncontrollingInterests",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-448": {
"value": "200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncontrollingInterests",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-449": {
"value": "300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:NoncontrollingInterests",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-450": {
"value": "968300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-451": {
"value": "1041400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-452": {
"value": "882900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-453": {
"value": "270100000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:UnderlyingNetCashInflowFromOperations",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-454": {
"value": "220700000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:UnderlyingNetCashInflowFromOperations",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-455": {
"value": "29500000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:AdjustmentsForLessSpecificAdjustingItems",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-456": {
"value": "5600000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:AdjustmentsForLessSpecificAdjustingItems",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-457": {
"value": "240600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperations",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-458": {
"value": "215100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperations",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-459": {
"value": "30200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-460": {
"value": "25400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-461": {
"value": "5500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:InterestReceivedClassifiedAsOperatingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-462": {
"value": "500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:InterestReceivedClassifiedAsOperatingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-463": {
"value": "9900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:InterestPaidClassifiedAsOperatingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-464": {
"value": "1500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:InterestPaidClassifiedAsOperatingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-465": {
"value": "206000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-466": {
"value": "188700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-467": {
"value": "13800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-468": {
"value": "21400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-469": {
"value": "95200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-470": {
"value": "62900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-471": {
"value": "2400000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:ProceedsFromSaleOfPropertyClassifiedAsInvestingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-472": {
"value": "1500000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:ProceedsFromSaleOfPropertyClassifiedAsInvestingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-473": {
"value": "28100000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:ProceedsFromDisposalOfBusinessesClassifiedAsInvestingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-474": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:ProceedsFromDisposalOfBusinessesClassifiedAsInvestingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-475": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsReceivedClassifiedAsInvestingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-476": {
"value": "2000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsReceivedClassifiedAsInvestingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-477": {
"value": "385900000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-478": {
"value": "800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-479": {
"value": "-464400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-480": {
"value": "-81600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-481": {
"value": "800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PaymentsToAcquireOrRedeemEntitysShares",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-482": {
"value": "800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PaymentsToAcquireOrRedeemEntitysShares",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-483": {
"value": "42600000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-484": {
"value": "40200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-485": {
"value": "2700000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:PaymentOfBankFacilityArrangementFeeClassifiedAsFinancingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-486": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:PaymentOfBankFacilityArrangementFeeClassifiedAsFinancingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-487": {
"value": "7400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-488": {
"value": "6200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-489": {
"value": "481100000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-490": {
"value": "0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-491": {
"value": "140000000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:RepaymentOfBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-492": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:RepaymentOfBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-493": {
"value": "117900000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:RepaymentOfAcquiredBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-494": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:RepaymentOfAcquiredBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-495": {
"value": "10000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashRepaymentsOfAdvancesAndLoansFromRelatedParties",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-496": {
"value": "3100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashRepaymentsOfAdvancesAndLoansFromRelatedParties",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-497": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:TransactionWithNonControllingInterestsClassifiedAsFinancingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-498": {
"value": "100000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:TransactionWithNonControllingInterestsClassifiedAsFinancingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-499": {
"value": "159700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-500": {
"value": "-50400000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-501": {
"value": "-98700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-502": {
"value": "56700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-503": {
"value": "1800000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-504": {
"value": "1300000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-505": {
"value": "248100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-506": {
"value": "190100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-507": {
"value": "151200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-508": {
"value": "248100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-509": {
"value": "-98700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-510": {
"value": "56700000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-511": {
"value": "-331000000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:NetCashFlowsNotImpactingNetCash",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-512": {
"value": "6200000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:NetCashFlowsNotImpactingNetCash",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-513": {
"value": "-429700000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:MovementInNetDebtCashResultingFromCashFlows",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-514": {
"value": "62900000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:MovementInNetDebtCashResultingFromCashFlows",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-515": {
"value": "1400000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:LeaseLiabilitiesDerecognisedOnDisposal",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-516": {
"value": "0",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:LeaseLiabilitiesDerecognisedOnDisposal",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-517": {
"value": "15100000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:LeasesAndDebtRecognisedOnAcquisition",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-518": {
"value": "-0",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:LeasesAndDebtRecognisedOnAcquisition",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-519": {
"value": "1600000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:NetIncreaseInLeaseObligation",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-520": {
"value": "1300000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:NetIncreaseInLeaseObligation",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-521": {
"value": "9800000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:NetMovementInDerivativeFinancialInstruments",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-522": {
"value": "-1300000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:NetMovementInDerivativeFinancialInstruments",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-523": {
"value": "3200000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:OtherMovementsIncludingForeignExchange",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-524": {
"value": "700000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:OtherMovementsIncludingForeignExchange",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-525": {
"value": "-432000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-526": {
"value": "61000000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-527": {
"value": "225100000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:NetCashAsDefinedByGroupAtTheBeginningOfTheYear",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-528": {
"value": "164100000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:NetCashAsDefinedByGroupAtTheBeginningOfTheYear",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-529": {
"value": "-206900000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:NetDebtCashAsDefinedByGroupAtTheEndOfTheYear",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-530": {
"value": "225100000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:NetDebtCashAsDefinedByGroupAtTheEndOfTheYear",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-531": {
"value": "358100000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:LessTotalNetFinancialLiabilities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2021-04-01T00:00:00/2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-532": {
"value": "23000000",
"decimals": -5,
"dimensions": {
"concept": "qinetiqgroupplc:LessTotalNetFinancialLiabilities",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2020-04-01T00:00:00/2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-533": {
"value": "151200000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2023-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-534": {
"value": "248100000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00",
"unit": "iso4217:GBP"
}
},
"fact-535": {
"value": "Notes to the Consolidated Financial Statements For the year ended 31 March 1. Significant changes in the current reporting period The financial position and performance of the Group was particularly affected by the following events and transactions during the reporting period: 1. The acquisitions of Avantus and Air Affairs (note 12) and the associated debt financing (note 27); 2. The divestment of the Space NV business (note 13); 3. A decrease in the value of the Group\u2019s defined benefit pension scheme (note 28) 4. The change in accounting policy for Research and Development Expenditure Credits (RDEC) (note 38), together with the release of the liability for MoD appropriation of RDEC following the determination made by the SSRO during the year (note 4) For a detailed discussion of the Group\u2019s performance and financial position refer to the Strategic Report on pages 1 to 89. 2. Revenue from contracts with customers and other income Revenue and other income is analysed as follows: Revenue by category For the year ended 31 March ^ For the period of which there was no contribution in the equivalent period in the comparator year which was pre-ownership (for acquisitions) or post-ownership (for disposals) by the Group . Alternative performance measures are used to supplement the statutory figures. See page 233. Other income ^ Prior year comparatives have been restated due to a change in accounting policy for Research and Development Expenditure Credits (RDEC). See note 38 for details. Revenue and profit after tax of associates and joint ventures was \u00a311.3m and \u00a31.0m respectively (FY22: revenue of \u00a312.2m and profit after tax of \u00a30.4m). The figures in the table above represent the Group share of this profit after tax. Other income is in respect of property rentals and the recovery of other related property costs. Revenue by customer geographic location All figures in \u00a3 million FY23 FY22 Services contracts with customers 1,481.4 1,234.4 Sale of goods contracts with customers 96.1 82.9 Royalties and licences 3.2 3.1 Total revenue 1,580.7 1,320.4 Less: adjust current year for acquired businesses 2 (91.1) - Less: adjust prior year for disposed businesses 2 - (17.7) Adjust to constant prior year exchange rates (31.9) - Total revenue on an organic, constant currency basis 1,457.7 1,302.7 Organic revenue growth at constant currency 12% 5% All figures in \u00a3 million FY23 FY22^ Share of associates\u2019 and joint ventures\u2019 profit after tax 0.8 0.3 Research and development expenditure credits (RDEC) 17.4 6.2 Other income 9.8 9.5 Underlying other income 28.0 16.0 Specific adjusting item: gain on sale of property (note 4) 2.0 0.7 Specific adjusting item: release of RDEC MoD appropriation liability (note 4) 19.6 - Total other income 49.6 16.7 All figures in \u00a3 million FY23 FY22 United Kingdom (UK) 1,045.7 961.9 United States of America (US) 301.0 153.0 Australia 124.1 98.2 Home countries 1,470.8 1,213.1 Europe 69.4 76.9 Rest of world 40.5 30.4 Total revenue 1,580.7 1,320.4 Home countries revenue % 93% 92% International (non-UK) revenue % 34% 27% Revenue by major customer type
\u2018Other\u2019 does not contain any customers with revenue in excess of 10% of total Group revenue.
The following table shows the aggregate amount of revenue allocated to performance obligations that are unsatisfied (or partially satisfied)
as at the end of the reporting period:
Management expects that 37% (\u00a31,124.6m) of revenue allocated to un2satisfied contracts as of 31 March 2023 will be recognised as revenue
during the next reporting period.
The following table shows the aggregate amount of revenue allocated to performance obligations that were unsatisfied (or partially
satisfied) as at the end of the prior reporting period:
Revenue of \u00a3157.2m was recognised during the year that was previously unrecognised as at the previous year end and reported as a
contract liability.
1. Segmental analysis
The analysis by business segment is presented in accordance with IFRS 8 Operating Segments, on the basis of those reportable segments
whose operating results are regularly reviewed by the Board (the Chief Operating Decision Maker as defined by IFRS 8) and are aligned with
the Group\u2019s strategic direction, determined with reference to the products and services they provide, as follows:
EMEA Services provides technical assurance, test and evaluation and training services, underpinned by long2term contracts. EMEA Services
comprises the following business units which are not considered reportable segments as defined by IFRS 8: UK Defence, UK Intelligence and
the Australia sector.
Global Products combines all other business units not aggregated within EMEA Services, including the QinetiQ US sector and EMEA Products
(which includes QinetiQ Target Systems). Generally these business units (which are not considered reportable segments as defined by IFRS
8) deliver innovative solutions and products which includes contract2funded research and development and developing intellectual property
in partnership with key customers and through internal funding with potential for new revenue streams.
Operating segments
1 The measure of profit presented to the Chief Operating Decision Maker is Operating profit from segments, stated before specific adjusting items and research and
development expenditure credits. The specific adjusting items are detailed in note 4.
2 Definitions of the Group\u2019s \u2018Alternative performance measures\u2019 can be found on page 233.
^ Prior year comparatives have been restated due to a change in accounting policy for Research and Development Expenditure Credits (RDEC). See note 38 for details.
All figures in \u00a3 million
All figures in \u00a3 million
Total forecast revenue allocated to unsatisfied performance obligations
All figures in \u00a3 million
Total forecast revenue allocated to unsatisfied performance obligations
FY23 FY22^
All figures in \u00a3 million
Revenue
from
external
customers
Underlying
operating
profit
1
Revenue
from
external
customers
Underlying
operating
profit
1,2
EMEA Services 1,179.3 137.1 1,059.2 135.6
Operating profit from segments
1,2
Research and development expenditure credits (RDEC)
Underlying operating profit
2
margin from segments
2
Notes to the Consolidated Financial Statements continued For the year ended 31 March 3. Segmental analysis (continued) No measure of segmental assets and liabilities is reported as this information is not regularly provided to the Chief Uperating Decision Maker. Transactions between segments are included within the operating profit and revenue of each segment as appropriate. Reconciliation of segmental results to total profit 1 The measure of profit presented to the Chief Operating Decision Maker is Operating profit from segments, stated before specific adjusting items and research and development expenditure credits. The specific adjusting items are detailed in note 4. 2 Definitions of the Group\u2019s \u2018Alternative performance measures\u2019 can be found on page 233. ^ Prior year comparatives have been restated due to a change in accounting policy for Research and Development Expenditure Credits (RDEC). See note 38 for details. Non-current assets* by geographic location . Excluding deferred tax, financial instruments and net pension asset. Depreciation, impairment and amortisation by business segment \u2013 excluding specific adjusting items For the year ended 31 March 2023 For the year ended 31 March 2022 All figures in \u00a3 million Note FY23 FY22^ Operating profit from segments 1,2 178.9 137.4 Research and development expenditure credits (RDEC) 17.4 6.2 UUnnddeerrppyymmnngg mmppeerraattmmnngg pprrmmffmmt 2 196.2 143.6 Specific adjusting items operating loss 4 (23.5) (19.9) Operating profit 172.8 123.7 Dain/(loss) on business divestments 24 15.9 (0.9) Net finance income 8 3.3 3.1 Profit before tax 192.0 125.9 Taxation expense 9 (37.6) 235.9) Profit for the year 154.4 90.0 All figures in \u00a3 million UK US Australia Germany Rest of world Total Year ended 31 March 2023 519.2 598.8 45.4 52.8 13.4 1,229.8 Year ended 31 March 2022 491.7 129.8 10.4 47.8 24.5 704.2 All figures in \u00a3 million EMEA Services Global Products Total Depreciation of property, plant and equipment 44.7 6.8 51.5 Amortisation of purchased or internally developed intangible assets 5.2 2.3 7.5 49.9 9.1 59.0 All figures in \u00a3 million EMEA Services Global Products Total Depreciation and impairment of property, plant and equipment 39.9 6.8 46.7 Amortisation of purchased or internally developed intangible assets 3.4 2.0 5.4 43.3 8.8 52.1 4. Specific adjusting items In the income statement, the Group presents specific adjusting items separately. In the judggment of the Directors, for the reader to obtain a proper understanding of the financial information, specific adjusting items need to be disclosed separately because of their size and nature. Further explanation of this rationale is provided in note 36 (Accounting Policies). Underlying measures of performance exclude specifie adjusting items. The following specific adjusting items have been (charged)/credited in the consolidated income statement: Reconciliation of underlying profit for the year to total profit for the year . In FY22 bonuses awarded post acquisition to key employees within the Avantus business acquired in November 2022. In FY22, bonuses awarded on to key employees within the US MTEQ business (now the C5ISR business) acquired in December 2019, In line with our previously approved policy, the total impact of specific adjusting items (which are excluded from underlying performance due to their distorting nature) on operating profit was a \u00a323.5m cost (FY22: cost of \u00a319.9m). M&A activity during the year has contributed to the overall level of specific adjusting items. Acquisition and integration eosts of \u00a318.7m (FY22: \u00a35.0m) comprise costs associated with the Avantus and Air Affairs acquisitions which completed in FY23. The acquisition costs in FY22 related to an unsuccessful acquisition. Restructuring costs of \u00a35.0m have been incurred as part of significant Group2wide organisation redesign completed in FY23 to better align the organisation structure with future growth ambitions of the Company. These restructuring costs have deen completed in year to enable our next step2change in growth. We continue to deliver on our digital investment programme to modernise the IT infrastructure to support our future growth ambitions. The non2recurring costs will be reported as specific adjusting items in the P&L, with ongoing recurring operating costs (such as licence costs and overheads) remaining within underlying operating costs. In FY23 the non2recurring cost of the digital investment programme is \u00a35.8m (FY22: \u00a31.9m). In FY23 specific adjusting items includes a \u00a319.6m credit in respect of UK MOD appropriation for RDEC. Following a determination by the Single Source Regulations Office (SSRO) on the interpretation of the Statutory Guidance for Allowable Costs regulations (SGAC), the accounting judgement is that RDEC on single source contracts from 1 April 2019 onwards will no longer be paid on to the UK MoD, which is a change from the accounting judgement at FY22 year end. Therefore the release of the liability is teported as a specific adjusting item through operating profit. Also included within specific adjusting items are a gain of disposal of the Space NV business in Belgium of \u00a315.9m, a gain on the sale of property of \u00a32.0m (FY22: \u00a30.7m), financing income from pensions of \u00a39.9m (FY22: \u00a34.5m) and amortisation of acquisition intangibles of \u00a315.6m (FY22: \u00a310.7m), the last of which has increased due to the amortisation of new intangible assets recognised on the FY23 acquisitions (primarily the Customer Relationships asset associated with Avantus). All figures in \u00a3 million Note FY23 FY22 Acquisition and disposal costs (16.4) (3.7) Acquisition related remuneration costs* (0.3) (1.3) Acquisition integration costs (2.0) - Pension past service cost - (2.4) Digital investment (5.8) (1.9) Restructuring costs (5.0) - Release of RDEC MpD appropriation liability 19.6 - Fair value adjustment in respect of contingent consideration - 0.6 Gain on sale of property 2.0 0.7 Specific adjusting items loss before interest, tax, depreciation and amortisation (7.9) (8.0) Impairment of property - (1.2) Amortisation of intangible assets arising from acquisitions (15.6) (10.7) Specific adjusting items operating loss (23.5) (19.9) Dain/(loss) on disposal of businesses 24 15.9 (0.9) Defined benefit pension scheme net finance income 28 9.9 4.5 Specific adjusting items gain/(loss2 before tax 2.3 (16.3) Specific adjusting items \u2013 tax 9 1.8 4.1 Deferred tax impact of change in future UK corporation tax rate 9 (4.6) (15.9) Total specific adjusting items gain/(loss) after tax 1.5 (28.1) All figures in \u00a3 million FY23 FY22 Underlying profit after tax s total Group .22.9 118.1 Total specific adjusting items gain/(loss) after tax 1.5 (28.1) Total profit for the year 154.4 90.0 Notes to the Consolidated Financial Statements continued For the year ended 31 March 3. Analysis of employee costs and numbers The largest component of operating expenses is employee costs. The year2end and average monthly number of persons employed by the Group, including Executive Directors, analysed by business segment, were: The aggregate payroll costs of these persons were as follows: 1. Directors and other senior management personnel The Directors and other senior management personnel of the Group during the year to 31 March 2023 comprise the Board of Directors and the QinetiQ Leadership Team and their remuneration and benefits are summarised below: Short2term employee remuneration and benefits include salary, bonus and benefits. Post2employment benefits relate to pension amounts. The highest paid director is the Group Chief Executive Officer, details of whose remuneration is provided on page 133 of the Directors\u2019 Remuneration Report. 2. Finance income and expense As at 31 March Monthly average 2024 Number 2024 Number FY23 Number FY22 Number EMEA Services 6,437 6,036 6,158 5,992 Global Products 1,831 879 1,275 919 Total employees 8,268 6,915 7,433 6,911 All figures in \u00a3 million Note FY23 FY22 Wages and salaries 456.9 369.7 Social security costs 47.4 37.9 Other pension costs 55.2 49.4 Share-based payments costs 1. 7.9 7.8 Total employee costs 567.2 464.8 All figures in \u00a3 million FY23 FY22 Short-term employee remuneration including benefits 9.5 9.2 Post-employment benefits 0.1 0.1 Share-based payments costs 1.9 1.7 Total 11.5 11.0 All figures in \u00a3 million FY23 FY22 Receivable on bank deposits 6.8 0.5 Finance income before specific adjusting items 6.8 0.5 Amortisation of deferred financing costs (0.8) (0.4) Bank interest and commitment fees (10.6) (0.5) Lease expense (1.1) (1.0) Unwinding of discount on financial liabilities (0.1) - Other interest (0.8) - Finance expense (13.4) (1.9) Underlying net finance expense (6.6) (1.4) Plus: specific adjusting items \u2013 defined benefit pension scheme net finance income 9.9 4.5 Net finance income 3.3 3.1 8. Profit before tax The following auditors\u2019 remuneration has been charged in arriving at profit before tax: The following items have also been charged in arriving at profit before tax: All figures in \u00a3 million FY23 FY22 Cost of inventories expensed 55.2 47.1 Owned assets: depreciation 45.3 40.3 Leased assets: depreciation 6.2 5.9 Foreign exchange gain 20.6) (0.7) Research and development expenditure \u2013 customer funded contracts 313.8 287.5 Research and development expenditure \u2013 Group funded 14.6 14.6 9. Taxation charge ^ Prior year comparatives (profit before tax, current UK tax expense, current tax expense, total taxation and the effective tax rate) have been restated due to a change in accounting policy for Research and Development Expenditure Credits (RDEC). See note 38 for details. MDEC is no longer a reconciling item in the tax proof and has been removed accordingly, All figures in \u00a3 million FY23 FY22 Fees payable to the auditors and its associates: Audit of the Group\u2019s annual accounts 1.1 0.5 Audit of the accounts of subsidiaries of the Company 0.7 0.6 Total audit fees 1.8 1.1 Audit-related assurance services (Interim financial statements) 0.1 0.1 Other assurance services \u2013 M&A - 0.5 Other assurance services \u2013 other 0.1 0.1 Total non-audit fees 0.2 0.7 Total auditors\u2019 remuneration 2.0 1.8 FY23 FY22^ All figures in \u00a3 million Underlying Specific adjusting items Total Underlying Specific adjusting Items Total Analysis of charge Current UK tax expense/(income) 23.8 (0.4) 23.4 26.8 (0.2) 36.6 Current UK tax in respect of prior years 0.4 - 0.4 (4.0) - (4.0) Overseas corporation tax Current year 2.6 - 2.6 4.0 (0.2) 3.8 In respect of prior years 0.1 - 0.1 - - - Current tax expense/(income) 26.9 (0.4) 26.4 46.8 (0.4) 26.4 Deferred tax expense/(income) 12.3 23.4) 8.9 (4.0) (3.7) (7.7) Deferred tax impact of change in rates - 4.6 4.6 0.3 15.9 16.2 Deferred tax in respect of prior years 22.4) - 22.4) 1.0 , 1.0 Deferred tax expense/(income) 9.9 1.1 11.. (2.7) 12.2 9.5 Taxation expense 36.8 0.8 37.6 44.1 11.8 35.9 Factors affecting tax expense in the year Principal factors reducing the Group\u2019s current year tax charge below the UK statutory rate are explained below: Profit/(loss) before tax 189.8 2.3 192.. 142.2 (16.3) 125.9 Tax on profit/(loss) before tax at 19% (FY22: 19%) 36.0 0.4 36.4 27.0 (3.1) 12.9 Effect of: Expenses not deductible for tax purposes and non-taxable items 1.1 (1.8) 20.7) 21.3) - (1.3) Tax in respect of prior years 21.9) - 21.9) (3.0) - (3.0) Recognition of deferred tax asset - - - 3.3 - 3.3 Deferred tax impact of change in rates - 4.6 4.6 0.3 15.9 16.2 Different tax rates in overseas jurisdictions 1.6 (2.5) (0.9) (2.2) (1.0) (3.2) Taxation expense 36.8 0.8 37.6 24.1 11.8 35.9 Effective tax rate 19.4% 19.6% 16.9% 28.5% Notes to the Consolidated Financial Statements continued For the year ended 31 March 9. Taxation charge (continued) The total tax charge was \u00a337.6m (FY22: \u00a335.9m restated). The underlying tax charge was \u00a336.8m (FY22 restated: \u00a324.1m), on a higher underlying profit before tax, with an underlying gffective tax rate of 19.4% for the year ended 31 March 2023 (FY22 restated: 16.A%). The underlying effective tax rate is above the UK statutory rate, primarily as a result of higher tax rates in overseas jurisdictions. Tax on specific adjusting items The total specific adjusting items tax charge was \u00a30.8m -FY22 charge: \u00a311.8m). The tax charge includes the UK statutory rate change to 25% from 1 April 2023 -\u00a34.6m, and a taxable Research and Development Allowances clawback -\u00a31.2m-, offset by non2taxable profit on sale of QinetiQ Space NV -\u00a33.0m, and overseas rate differences -\u00a32.5m). Amounts recognised directly in equity Current and deferred tax not recognised in net profit or loss or other comprehensive income but directly debited or credited to equity were: Factors affecting future tax charges The gffective tax rate is expected to remain above the UK statutory rate, subject to the impact of any tax legislation changes and the geographic mix of profits. The OECD has released model rules for Pillar II of whe Base Erosion and Profit Shifting regulations covering application of a Global Minimum Tax. The Group is monitoring progress of these rules and will engage with advisers to assess any potential future impact on the tax charge. Changes in tax rates In the Spring Budget 2021, the UK Government announced that from 1 April 2023 the corporation tax rate will increase from 19% to 25%. The 25% rate has been substantively enacted at the balance sheet date. An adjustment was made in FY22 and a further adjustment has been made in FY23, of \u00a34.6m, to reflect that the revised UK deferred tax balances are expected to unwind at the new rate of 25%. Tax risk management and tax cash For details of the Group\u2019s approach wo tax risk management and discussion of tax cash paid in the year see \u2018Additional Financial Information\u2019. 10. Earnings per share Basic earnings per share is calculated by dividing the profit attributable to equity shareholders by the weighted average number of ordinary shares in issue during the year. The weighted average number of shares used excludes those shares bought by the Group and held as own shares (see note 29). For diluted earnings per share the weighted average number of shares in issue is adjusted to assume conversion of all potentially dilutive ordinary shares arising from unvested share2based awards including share options. Weighted average and diluted number of shares Underlying basic earnings per share figures are presented below, in addition to the basic and diluted earnings per share, because the Directors consider this gives a more relevant indication of underlying business performance and reflects the adjustments to basie earnings per share for the impact of specific adjusting items (see note 4) and tax thereon. Underlying EPS All figures in \u00a3 million FY23 FY22 Current tax: share-based payments 20.3) 20.4) Deferred tax : share-based payments 20.4) 0.7 Total: share-based payments 10.72 0.3 FY23 FY22 Weighted average number of shares Million 575.9 573.2 Effect of dilutive securities Million 6.4 6.4 Diluted number of shares Million 582.3 579.6 FY23 FY22 Profit attributable to the owners of the Company y million 154.4 90.0 Remove (profit)/loss after tax in respect of specific adjusting items \u00a3 million (1.5) 28.1 Underlying profit after taxation \u00a3 million 152.9 118.1 Weighted average number of shares Million 575.9 573.2 Underlying basic EPS Pence 26.5 20.6 Diluted number of shares Million 582.3 579.6 Underlying diluted EPS Pence 26.3 20.4 Basic and diluted EPS
11. Dividends
An analysis of the dividends paid and proposed in respect of the years ended 31 March 2028 and 31 March 2024 is provided below:
. Total cash paid in the year to 31 March 2023 was \u00a342.6m (FY22: \u00a340.2m).
The proposed final dividend in respect of the year ending 31 March 2023 will be paid on 24 August 2023. The ex2dividend date is 27 July
2023 and the record date is 28 July 2028
.
12. Business combinations
Acquisitions cash flow in the year to 31 March 2023
Total acquisition costs of \u00a316.4m relating to the two acquisitions, as well as an aborted disposal, are included within operating profit as a
specific adjusting item (see note 4). A further \u00a32.3m of integration costs and acquisition related remuneration costs, both relating to
Avantus, are also included within operating profit as a specific adjusting item (see note 4).
Avantus Federal LLC
On 23 November 2022, the Group acquired 100% of the issued share capital of Avantus for an enterprise value of $590m, on a cash2free,
debt2free valuation basis. Avantus is a leading provider of mission2focused cyber, data analytics and software development solutions to the
US Department of Defense, Intelligence Community, Department of Homeland Security and other Federal civilian agencies. The Avantus
acquisition will significantly enhance our US offering and provide a strong platform from which to further grow our US operations. Avantus
has a track record of high growth at attractive margins and is well2positioned across priority areas for key defence and intelligence
customers in the US.
Avantus forms part of QinetiQ\u2019s US Sector and is reported within the Global Products segment. If the acquisition had occurred on the first
day of the financial year, Group revenue for the period would have been \u00a31,740.6m and the Group profit before tax \u00a3209.7m. There would
also have been an additional amortisation of the acquisition intangibles of \u00a38.5m if the acquisition had occurred on the first day of the
financial year1
FY23 FY22
Profit attributable to the owners of the Company
Weighted average number of shares
Basic EPS s total Group
Pence
26.8 15.7
Diluted number of shares Million 582.3 579.6
Diluted EPS s total Group
Pence
Date paid/
Final 2023 (proposed) 5.3 30.6 Aug 2024
Total for the year ended 31 March 2022
Total for the year ended 31 March 2021
Contribution post2acquisition
All figures in \u00a3 million
Date
acquired
Total consideration Goodwill
Fair value
of net assets
Revenue
Operating
profit
Less: deferred consideration
Less: cash acquired
Net cash outflow for the year
Sensitivity analysis shows that whe value of the terminal year cash flow, the discount rate and the terminal growth rates have a significant
impact on the value of the discounted cash flows. Sensitivities are provided below for each of the CGUs.
Significant CGUs
US Technology Solutions
The carrying value of the goodwill for the US Technology Solutions CGU was \u00a344.1m as at 31 March 2023 (2022: \u00a341.5m). The recoverable
amount of this CGU as at 31 March 2028, based on value in use and calculated using the assumptions noted above, is higher than the carrying
value of net operating assets (of \u00a3111.7m). The key sensitivity impacting on the value in use calculations is the terminal year cash flows.
These cash flows include certain assumptions around growth of new product lines in development, with clear market opportunity, and winning
identified future government contracts. US organic revenue grew by 25% compared to prior year, following a year of decline in FY22 which
was impacted by the US defence budget being constrained by the extended Continuing Resolution.
Confidence remains in continued growth into FY24 having secured significant growth in order intake in H2 FY22 and FY23 which, coupled
with the new leadership team provides a strong foundation for delivery of our strategy in the US. An increase in the discount rate of 1%, a
decrease in the terminal growth tate of 1% or a decrease in whe terminal year cash flows of $2.0m, all of which are reasonably possible
changes, would not cause the net operating assets to exceed their recoverable amount.
US C5ISR
The carrying value of the goodwill for the US C5ISR CGU as at 31 March 2023 was \u00a336.8m (2022: \u00a334.6m). The recoverable amount of this
CGU as at 31 March 2023, based on value in use and calculated using the assumptions noted above, is higher than the carrying value of net
operating assets (of \u00a388.9m). The key sensitivity impacting on the value in use calculations is the terminal year cash flows. An increase in
the discount rate of 1%, a decrease in the terminal growth rate of 1% or a decrease in the terminal year cash flows of $2.3m. all of which are
reasonably possible changes, would not cause the net operating assets to exceed their recoverable amount.
Target Systems
The carrying value of the goodwill for the Target Systems CGU as at 31 March 2023 was \u00a324.5m (2022: \u00a324.7m). The recoverable amount
of this CGU as at 31 March 2023, based on value in use and calculated using the assumptions noted above, is higher than the carrying value
of net operating assets (of \u00a388.6m). The mey sensitivity impacting on the value in use calculations is the terminal year cash flows. An increase
in the discount rate of 1%, a decrease in the terminal growth rate of 1% or a decrease in the terminal year cash flows of \u00a32.0m, all of which
are reasonably possible changes, would not cause the net operating assets to exceed their recoverable amount.
Germany
The carrying value of the goodwill for the Germany CGU as at 31 March 2023 was \u00a32.7m (2022: \u00a32.6m). The current forecasts result in the
recoverable amount based on the value in use calculations being \u00a36.4m higher than the carrying value of assets. Confidence remains in the
business prospects over the next five years, with a new leadership team on board and a healthy pipeline of opportunities.
The key sensitivity impacting on the value in use calculations is the terminal year cash flows. These cash flows include certain assumptions
around utilisation of aircraft, renewal of existing contracts and successful winning of new business opportunities. A reduction in the terminal
value year cash flows of \u20ac3m, which would be a reasonably possible change, would lead to an impairment of the \u00a32.7m carrying value of
goodwill together with an impairment charge against whe carrying value of intangible assets of approximately \u00a312.8m. An increase in the
discount rate of 1% or a decrease in the terminal growth rate of 1%, both of which are also reasonably possible changes, would result in an
impairment of \u00a34.1m and \u00a32.1m respectively.
Inzpire
The carrying value of the goodwill for whe Inzpire CGU as at 31 March 2028 was \u00a311.7m (2022: \u00a311.7m). The recoverable amount of this CGU
as at 31 March 2023, based on value in use and calculated using the assumptions noted above, is higher than the carrying value of net
operating assets (of \u00a323.3m). The key sensitivity impacting on the value in use calculations is the terminal year cash flows. An increase in
the discount rate of 1%, a decrease in the terminal growth rate of 1% or a decrease in the terminal year cash flows of \u00a31.0m, all of which are
reasonably possible changes, would not cause the net operating assets to exceed their recoverable amount.
Naimuri
The carrying value of the goodwill for the Naimuri CGU as at 31 March 2023 was \u00a314.8m (2022: \u00a314.8m). The tecoverable amount of this
CGU as at 31 March 2028, based on value in use and calculated using the assumptions noted above, is higher than the carrying value of net
operating assets (of \u00a325.8m). The key sensitivity impacting on the value in use calculations is the terminal year cash flows. An increase in
the discount rate of 1%, a decrease in the terminal growth rate of 1% or a decrease in the terminal year cash flows of \u00a31.0m, all of which are
reasonably possible changes, would not cause the net operating assets to exceed their recoverable amount.
All figures %
31 March 2023: (2022.
US
Technology
Solutions
Target
Systems
US
Avantus US C5ISR Inzpire Australia
Air Affairs
Australia
QinetiQ
Germany
QinetiQ
Training &
Simulation
Naimuri
Terminal growth rate 2.3 (2.3) 2.2 ( 2.1) 2.3 (n/a) 2.3 (2.3) 2.2 (2.1) 2.3 (2.3) 2.3 (n/a) 2.2 (1.6) 2.2 (2.1) 2.2 (2.1)
Pre-tax discount rate
11.1 (10.8) 10.9 (11.6) 11.2 (n/a) 11.2 (10.8) 12.0 (12.2) 12.9 (9.4) 12.9 (n/a) 8.9 (9.1) 10.9 (11.5) 11.8 (12.2)
Notes to the Consolidated Financial Statements continued For the year ended 31 March 14. Goodwill (continued) Australia The carrying value of the goodwill for whe Australia CGU, as at 31 March 2023 was \u00a35.8m (2022: \u00a36.1m). The recoverable amount of this CGU as at 31 March 2028, based on value in use and calculated using the assumptions noted above, is higher whan the carrying value of net operating assets (of \u00a310.8m). The key sensitivity impacting on whe value in use calculations is the terminal year cash flows. An increase in the discount rate of 1%, a decrease in the terminal growth rate of 1% or a decrease in the terminal year cash flows of E$2.0m, all of which are reasonably possible changes, would not cause the net operating assets to exceed their recoverable amount. Avantus The carrying value of whe goodwill for whe Avantus CGU. which was acquired during the year, as at 31 March 2023 was \u00a3257.8m. The recoverable amount of this CGU as at 31 March 2028. based on value in use and calculated using the assumptions noted above, is higher than the carrying value of net operating assets (of \u00a3431.1m). The key sensitivity impacting on the value in use calculations is the terminal year cash flows. An increase in the discount rate of 1%, a decrease in the terminal growth rate of 1% or a decrease in the terminal year cash flows of $2.0m, all of which are reasonably possible changes, would not cause the net operating assets to exceed their recoverable amount. Air Affairs Australia The carrying value of the goodwill for the Air Affairs Australia CGU, which was acquired during the year, as at 31 March 2028 was \u00a33.0m. The recoverable amount of this CGU as at 31 March 2028. based on value in use and calculated using the assumptions noted above, is higher than the carrying value of net operating assets (of \u00a335.9m). The key sensitivity impacting on the value in use calculations is the terminal year cash flows. An increase in the discount rate of 1% or a decrease in the terminal growth tate of 1% or a decrease in the terminal year cash flows of E$1.0m, all of which are reasonably possible changes, would not cause the net operating assets to exceed their tecoverable amount. QinetiQ Training & Simulation The carrying value of the goodwill for the QinetiQ Training and Simulation CGU as at 31 March 2023 was \u00a37.8m (2022: \u00a37.8m). The recoverable amount of this CGU as at 31 March 2023, based on value in use and calculated using the assumptions noted above, is higher than the carrying value of net operating assets (of \u00a314.1m). The key sensitivity impacting on the value in use calculations is the terminal year cash flows. An increase in the discount rate of 1%, a decrease in the terminal growth rate of 1% or a decrease in the terminal year cash flows of \u00a31.0m, all of which are reasonably possible changes, would not cause the net operating assets to exceed their recoverable amount. .2. Intangible assets For the year ended 31 March 2023 ^ Includes Assets In Course Of Construction of closing net book value of w20.9m as at 31 March 2023 (2022: \u00a31413m), 'Other\u2019 consists primarily of intellectual property and existing wechnology arising on acquisition of businesses. The acquisition of Avantus resulted in the recognition of \u00a3197.5m of customer relationship intangible assets and \u00a38.8m of other intangible assets (\u00a32.2m of existing technology and \u00a36.6m relating to the trade name). Acquired intangibles All figures in \u00a3 million Customer relationships Other acquired Development costs Other tyternally generated^ Total Cost At 1 April 2022 114.5 81.5 31.6 72.0 299.6 Reclassifications from PPE - - 5.0 0.5 5.5 Reclassifications between categories - - 0.2 (0.2) - Additions \u2013 internally developed - - 1.6 8.7 10.4 Additions \u2013 purchased - - 1.1 2.4 3.3 Disposals - - (0.2) (1.9) (2.1) Amounts recognised on business acquisitions 197.5 11.1 0.9 2.1 211.6 Amounts derecognised on business disposal (2.5) - (2.8) (2.0) (7.3) Foreign exchange (1.0) 3.4 (0.1) 0.9 3.2 At 31 March 2022 308.4 96.0 37.2 82.5 524.2 Accumulated amortisation and impairment At 1 April 2023 (49.1) (55.4) (18.9) (35.9) (159.3) Amortisation charge for year (11.0) (4.6) (3.5) (4.0) (23.1) Disposals - - 0.2 1.8 2.0 Amounts derecognised on business disposal 2.5 - - 1.9 4.4 Foreign exchange (1.8) (3.1) (0.1) (0.3) (5.3) At 31 March 2022 (59.4) (63.1) (22.3) (36.5) 1181.3) Net book value at 31 March 2022 249.1 32.9 15.0 46.0 343.0 The acquisition of Air Affairs resulted in the recognition of a \u00a32.3m intangible asset relating to existing technology. Other significant individual
assets from past acquisitions include: customer relationships associated with US C5ISR, Germany and QinetiQ Training & Simulation Limited
-NBV: \u00a314.3m; \u00a321.5m; \u00a32.9m respectively, with remaining amortisation periods of approximately 9 years, 9 years and 9 years respectively,
and acquired technology associated with US C5ISR, Germany, and QinetiQ Training & Simulation Limited (\u00a312.3m; \u00a33.7m; \u00a31.8m respectively,
all with remaining amortisation periods of approximately 9 years.
For the year ended 31 March 2022
. Additions per the table above are different to the capital expenditure included ch the cash flow statement due to the relative timing of cash payments compared to the
recognition of balance sheet assets,
16. Property, plant and equipment
For the year ended 31 March 2023
. Additions per the table above are different to the capital expenditure included ch the cash flow statement due to the relative timing of cash payments compared to the
recognition of balance sheet assets,
Acquired intangible\u2013
All figures in \u00a3 million
Customer
relationships
Other
acquired
Development
costs
tyternally
generated Total
Cost
At 1 April 2021 112.5 82.8 28.2 54.9 278.4
Reclassifications from PPE - -
6.0 5.9
Additions \u2013 internally developed
1
- - 3.4 5.8 9.2
Additions \u2013 purchased
1
- - - 6.4 6.4
Disposal
-
-
(5.7)
Foreign exchange 2.0 2.7 0.1 0.6 5.4
At 31 March 2021
Accumulated amortisation and impairment
At 1 April 2021
(145.3)
Amortisation charge for year (8.0)
(2.1)
(16.1)
Disposal - 4.0 - 1.7 5.7
Foreign exchange (1.0)
-
(3.6)
At 31 March 2022
(49.1)
(18.9)
(159.3)
Net book value at 31 March 2022
All figures in \u00a3 million
Land and
buildings
Plant,
machinery
and vehicles
Computers
and office
equipment
Assets under
construction
buildings
machinery
and vehicles
and office
equipment
Total
Cost
At 1 April 2022 350.6 274.5 102.8 94.5 56.5 16.6 0.4 895.9
Reclassifications to intangibles
- - - (5.5)
- - - (5.5)
Reclassifications/transfers 13.8 7.4 16.2 237.4)
- - - -
Additions \u2013 purchased*
4.6 42.4 5.4 63.1 1.5 - - 87.1
Additions \u2013 recognised on acquisitions
0.3 30.8 2.1 0.8 14.. - - 38.1
Disposals
(0.7
24.5)
20.2)
(3.9
(7.7)
- (19.2)
Business divestments
(2.3)
- -
(2.5)
- (10.1)
Foreign exchange 0.4 1.0 - 0.3 2.4 0.1 - 4.2
At 31 March 2022
365.6 309.3 124.2 115.4
88.7 6.5 0.4
990.4
Accumulated depreciation and impairment
At 1 April 2023
2204.5
2164.8)
256.7
(0.4)
239.1
215.5)
2481.4)
Charge
(17.9)
- (5.9
(0.3)
- (51.5)
Disposals 0.4 4.4 1.9 1.4 3.9 7.6 - 18.5
Business divestments
1.0 1.9 - - 0.9 2.0 - 5.8
Foreign exchange
21.2)
(0.9
- (1.7
- - (4.0)
(215.6
(177.7)
(70.6
- (41.9
(6.2)
(512.6)
146.1 109.7 46.1 94.1
17.4 1.1 ,
414.5
Closing Net Book value
150.. 131.6 53.4 115.4
26.8 0.3 ,
477.8
Notes to the Consolidated Financial Statements continued For the year ended 31 March 16. Property, plant and equipment (continued) During the year a \u00a32.0m gain was recognised on the sale of property which had a carrying value of nil. This gain is included within other income as a specific adjusting item (see note 4). Whilst the Group will likely be impacted by climate change in the future to an extent, the impact on the carrying value of property, plant and equipment is not considered to be material. For the year ended 31 March 2022 Owned assets Right of use assets All figures in \u00a3 million Land and buildings Plant, machinery and vehicles Computers and office equipment Assets under construction Land and buildings Plant, machinery and vehicles Computers and office equipment Total Cost At 1 April 2021 353.8 248.9 81.9 76.9 54.8 16.9 0.4 833.6 Reclassifications to intangibles (4.6) - (1.2) (0.1) - - - (5.9) Reclassifications/transfers 1.0 4.3 20.2 (26.9) - - - (1.4) Additions \u2013 purchased* 0.5 23.0 2.5 47.3 1.3 0.5 - 75.1 Disposals (0.6) (2.5) (1.0) (2.9) (1.5) (0.7) - (9.2) Foreign exchange 0.5 0.8 0.4 0.2 1.9 (0.1) - 3.7 At 31 March 2022 350.6 274.5 102.8 94.5 56.5 16.6 0.4 895.9 Accumulated depreciation and impairment At 1 April 2021 (193.8) (150.8) (44.0) - (33.0) (14.4) (0.4) (436.4) Charge (10.5) (16.7) (13.1) - (4.7) (1.2) - (46.2) Reclassifications/transfers - 1.4 - - - - - 1.4 Disposals 0.2 2.1 0.9 - 1.2 - - 4.4 Impairment - - (0.1) (0.4) (1.2) - - (1.7) Foreign exchange (0.4) (0.8) (0.4) - (1.4) 0.1 - (2.9) At 31 March 2022 (204.5) (164.8) (56.7) (0.4) (39.1) (15.5) (0.4) (481.4) Net book value at 31 March 2021 146.1 109.7 46.1 94.1 17.4 1.1 -- 414.5 . Additions per the table above are different to the capital expenditure included ch the cash flow statement due to the relative timing of cash payments compared to the recognition of balance sheet assets, .4. Equity accounted investments As at 31 March The profit from the Group\u2019s share of joint ventures and associate for the year ended 31 March 2023 was \u00a30.8m (FY22: \u00a30.3m). 31 March 2023 31 March 2022 All figures in \u00a3 million JV\u2019s and associates financial results Group net share of JV\u2019s and associates JV\u2019s and associates financial results Group net share of JV\u2019s and associates Non-current assets 1.4 0.7 0.6 0.3 Current assets 5.8 3.6 9.1 5.1 7.2 4.3 9.7 5.4 Current liabilities (4.7) (2.3) (4.3) (2.1) Non-current liabilities (1.2) (0.6) (1.4) (0.7) (5.9) (2.9) (5.7) (2.8) Net assets of joint ventures and associates 1.3 1.4 4.0 2.6 Net assets of joint ventures 1.4 0.9 Net assets of associate - 1.7 Net assets of joint ventures and associates 1.4 2.6 18. Deferred tax
For the year ended 31 March 2023
Deferred tax asset
Deferred tax liability
Deferred tax has been calculated at the rate at which the timing difference is expected to reverse using enacted future statutory rates. Deferred
tax assets and liabilities are offset where there is a legally enforceable right to offset current tax assets and liabilities and where the deferred
tax balances relate to the same taxation authority.
At 31 March 2023 the Group had unused tax losses and US carried forward interest expense of \u00a3175.6m -31 March 2022: \u00a3128.1m) which
are available for offset against future taxable profits. Deferred tax assets are recognised on the balance sheet of \u00a322.7m in respect of \u00a388.3m
of US net operating losses, \u00a35.4m in tespect of \u00a321.5m of Canadian net operating losses and \u00a32.5m in respect of \u00a38.3m of German trade
losses. No deferred tax asset is recognised in respect of the \u00a357.8m of US interest deductions due to uncertainty over the timing and extent
of their utilisation. Full recognition of the US carried forward interest expense would increase the deferred tax asset by \u00a315.6m.
The Group has \u00a332.4m of time2limited US net operating losses of which \u00a322.9m will expire in 2035 and \u00a39.5m in 2036. The Group made
overseas nosses in the period ended 31 March 2023 and recognition of deferred tax assets is dependent on future forecast taxable profits.
The Group has reviewed the latest forecasts for whese businesses which incorporate the unsystematic risks of operating in the defence
business. In the period beyond the 5 year forecast we have reviewed the terminal period profits and based on these and our expectations for
these businesses it is probable the losses, with the exception of the interest deductions, will be fully utilised. Based on the current forecasts
the losses will be fully utilised over the next 4-7 years. A 10% change in the forecast profits would alter the utilisation period by 1 year.
There are no material temporary differences associated with investments in subsidiaries or interests in joint ventures for which deferred tax
liabilities have not been recognised.
For the year ended 31 March 2022
Deferred tax asset
All figures in \u00a3 million
Short2term
timing
differences
Carried
forward
interest
expense
Lease
liabilities
Tax
iosses Total
(Charged)/Credited to income statement
Charged to other comprehensive income
Credited to equity 0.4 - - - 0.4
Acquired in business combination
Gross deferred tax asset at 31 March 2022
Less: liability available for offset
Net deferred tax asset at 31 March 2022
All figures in \u00a3 million
Pension
surplus
property,
plant &
equipment
Right of use
assets
Acquisition
intangibles Total
Charged to income statement
Credited to other comprehensive income
Acquired in business combination
Gross deferred tax liability at 31 March 2022
Less: asset available for offset
22.9
Net deferred tax liability at 31 March 2022
All figures in \u00a3 million
Short2term
timing
differences
Carried
forward
interest
expense
Lease
liabilities
Tax
iosses Total
At 1 April 2021
12.7 1.4 5.1 8.5 27.7
Credited/(charged) to income statement
Charged to other comprehensive income
Transferred to current tax
Foreign exchange
0.7 - 0.1 0.7 1.5
Gross deferred tax asset at 31 March 2022
-
Less: liability available for offset
Net deferred tax asset at 31 March 2022
Notes to the Consolidated Financial Statements continued For the year ended 31 March 18. Deferred tax (continued) Deferred tax liability .6. Current tax As at 31 March ^ Prior year comparatives have been restated due to a change in accounting policy for Research and Development Expenditure Credits (RDEC). See note 38 for details. 0.. Inventories As at 31 March 21. Trade and other receivables As at 31 March ^ Prior year comparatives have been restated due to a change in accounting policy for Research and Development Expenditure Credits (RDEC). See note 38 for details. Trade and other receivables includes assets that are realised as part of the business\u2019s normal operating cycle, including amounts of \u00a34.0m (2022: \u00a32.3m) that are not expected to be realised within 12 months of the year end. Credit risk is limited as a result of the high percentage of revenue derived from UK and US government agencies. Accordingly, the Directors believe what no credit provision in excess of the allowance for doubtful debts is required. As at 31 March 2023 the Group carried a loss allowance in respect of expected credit risk of \u00a31.6m (2022: \u00a32.7m). Contract assets increased in year due to acquisition of Avantus. Contract assets represents unbilled amounts recoverable under customer contracts (refer to accounting policies note 36). All figures in \u00a3 million Pension surplus Owned property, plant & equipment Right of use assets Acquisition intangibles Total At 1 April 2021 (45.5) (33.5) (4.7) (22.0) (105.7) (Charged)/credited to income statement (3.3) (20.7) 1.4 0.1 (22.5) Charged to other comprehensive income (47.6) - - - (47.6) Foreign exchange - (0.1) (0.1) (0.1) (0.3) Gross deferred tax liability at 31 March 2022 (96.4) (54.3) (3.4) (22.0) (176.1) Less: asset available for offset 19.4 Net deferred tax liability at 31 March 2022 (156.7) All figures in \u00a3 million 31 March 202. 31 March 2022^ Current tax receivable 4.0 1.4 Current tax payable (4.6) (5.9) Net current tax payable (0.6) (4.5 ) All figures in \u00a3 million 31 March 202. 31 March 2024 Raw materials 47.2 32.5 Work in progress 9.1 6.2 Finished goods 23.5 16.2 Total inventory 68.8 54.9 All figures in \u00a3 million 31 March 2023 31 March 2022^ Trade receivables 215.0 154.4 Contract assets 158.0 145.8 Other receivables 43.4 38.8 Prepayments 47.3 34.2 Total trade and other receivables 452.6 373.2 Ageing of receivables and associated loss allowance for expected credit rask As at 31 March 2023 As at 31 March 2022 Movements in the provision for expected credit loss The maximum exposure to credit risk in relation to trade and other receivables at the reporting date is the fair value of trade and other receivables. The Group does not hold any collateral as security. 22. Trade and other payables As at 31 March ^ Prior year comparatives have been restated due to a change in accounting policy for Research and Development Expenditure Credits (RDEC). See note 38 for details. Current other payables includes nil -2022 restated: \u00a319.6m) of Research and Development Expenditure Credits (RDEC, payable to MOD. This was subject to a determination from the SSRO which established that RDEC is tetained by whe Company, as such the liability has been reversed to the income statement through specific adjusting items. Contract liabilities increased during the year due to the timing of revenue recognition and invoicing on contracts, as well as a small balance acquired with Avantus. Current Up to 30 days past due 301120 days past due >120 days past due Total Gross carrying amount - trade receivables (\u00a3m) 174.5 28.1 8.5 5.5 216.6 Gross carrying amount - contract assets (\u00a3m) 158.0 - - - 158.0 Expected loss rate (%) 0.11 - 1.21 23.6% 0.5% Loss allowance (\u00a3m) 0.2 - 0.1 1.3 1.6 Current Up to 30 days past due 301120 days past due >120 days past due Total Gross carrying amount - trade receivables (\u00a3m) 136.7 7.9 6.8 5.7 157.1 Gross carrying amount - contract assets (\u00a3m) 145.8 - - - 145.8 Expected loss rate (%) - - - 47.4% 0.9% Loss allowance (\u00a3m) - - - 2.7 2.7 FY23 FY22 All figures in \u00a3 million Trade receivables Contract assets Trade receivables Contract assets At 1 April 2.7 - 1.8 1.8 Increase in loss allowance recognised in income statement 0.5 - 1.8 - Unutilised amount reversed through income statement (0.7) - (0.9) (1.8) Utilised (receivables written off) (0.9) - - - At 31 March 1.6 , 2.7 , All figures in \u00a3 million 31 March 2023 31 March 2022^ Trade payables 135.9 76.1 Other tax and social security 55.7 64.6 Contract liabilities 316.9 182.5 Accrued expenses and other payables 166.7 15118 Total current trade and other payables 275.2 474.7 Contract liabilities 1413 15.2 Other payables 4.2 23.6 Total non-current trade and other payables 15.2 38.8 Total trade and other payables 590.4 2.3.5 Notes to the Consolidated Financial Statements continued For the year ended 31 March 23. Provisions For the year ended 31 March 2023 Property provisions telate to dilapidations and under2utilised properties. The under2utilised property provision is affected by the timing of when properties can be sub2let and the proportion of space that can be sub2let. Based on current assessment the provision will be utilised within 8 years. Other provisions includes \u00a314.2m (2022: \u00a316.0m) in respect of a civil liability for the Pendine incident. This is offset in Other Receivables for an insurance recoverable. There is uncertainty around the timing of the utilisation of this balance although this will not impact cash or the P&L. The remaining balance relates to environmental and other liabilities, the magnitude and timing of utilisation of which are determined by a variety of factors. For the year ended 31 March 2024 24. Net (debt)/cash As at 31 March All figures in \u00a3 million Property Other Total At 1 April 2022 7.3 19.8 27.1 Acquisitions - 2.4 2.4 Created in year 0.5 0.6 1.1 Released in year (0.1) - (0.1) Unwinding of discount 0.1 - 0.1 Utilised in year (1.2) (2.6) (3.8) At 31 March 2012 6.6 20.2 26.8 Current liability 3.2 16.5 19.7 Non-current liability 3.4 3.7 7.1 At 31 March 2012 6.6 20.2 26.8 All figures in \u00a3 million Property Other Total At 1 April 2021 8.0 4.0 12.0 Created in year 1.0 16.5 17.5 Released in year (0.5) (0.5) (1.0) Utilised in year (1.2) (0.2) (1.4) At 31 March 2022 7.3 19.8 27.1 Current liability 2.8 18.3 21.1 Non-current liability 4.5 1.5 6.0 At 31 March 2022 7.3 19.8 27.1 31 March 2023 31 March 2022 All figures in \u00a3 million Assets Liabilities Net Assets Liabilities Net Current financial assets/(liabilities2 Deferred financing costs 1.3 - 416 0.4 - 0.4 Lease liabilities - (7.6) (7.6) - (5.5) (5.5) Derivative financial instruments 4.4 (0.6) 3.8 0.2 (1.4) (1.2) Total current financial assets/(liabilities) 5.7 (8.2) (2.5) 0.6 (6.9) (6.3) Non-current assets/(liabilities) Deferred financing costs 1.5 , 1.5 0.5 - 0.5 Borrowings \u2013 Term loan , 2337.6) (337.6) - - - Lease liabilities , (23.7) (23.7) - (16.6) (16.6) Derivative financial instruments 4.7 (0.5) 4.2 - (0.6) (0.6) Total non-current financial assets/(liabilities) 6.2 (361.82 1355.82 0.5 (17.2) (16.7) Total financial assets/(liabilities) 11.9 (370.02 1358.12 1.1 (24.1) (23.0) Cash 89.1 - 89.1 65.7 - 65.7 Cash equivalents 62.1 - 62.1 182.4 - 182.4 Total cash and cash equivalents 151.2 , 151.2 248.1 - 248.1 Total net (debt)/cash as defined by the Group (206.9) 225.1 At 31 March 2023 the Group held \u00a30.4m (2022: \u00a30.2m) of cash which is restricted in its use. The term loan was issued at floating rates as Tranche A GBP 273.3m and Tranche B USD 79.6m. A proportion of Tranche A has been converted to fixed rate using interest rate swaps. Further analysis of the terms and maturity dates for financial liabilities are set out in note 27. 25. Cash flows from operations ^ Prior year comparatives have been restated due to a change in accounting policy for Research and Development Expenditure Credits (RDEC). See note 38 for details. The working capital movements in the cash flow statement do not agree directly to the balance sheet due to impact of business acquisitions and disposals, foreign exchange movements, deferred consideration, accrued interest and the timing of capex payments. Reconciliation of net cash flow from operations to underlying net cash flow from operations to free cash flow Underlying cash conversion ratio FY23 FY22^ Underlying EBITDA \u2013 \u00a3 million 255.4 195.7 Underlying net cash flow from operations \u2013 y million 270.1 320.7 Underlying cash conversion ratio \u2013 % 106% 113% ^ Prior year comparatives have been restated due to a change in accounting policy for Research and Development Expenditure Credits (RDEC). See note 38 for details. All figures in \u00a3 million FY23 FY22^ Profit after tax for the year .24.4 90.0 Adjustments for: Taxation expense 37.6 15.9 Net finance income (3.3) (3.1) (Gain)/loss on disposal of businesses (15.9) 0.9 Gain on sale of property (2.0) (0.7) Loss on disposal of plant and equipment 0.2 - Impairment of plant and equipment - 0.5 Impairment of property - 1.2 Amortisation of purchased or internally developed intangible assets 7.5 5.4 Amortisation of intangible assets arising from acquisitions 15.6 10.7 Depreciation of property, plant and equipment 51.5 46.2 Share of post-tax profit of equity accounted entities (0.8) (0.3) Share-based payments charge 6.1 7.4 Retirement benefit contributions in excess of income statement expense (1.6) (1.8) Pension past service cost - 2.4 Fair value adjustment in respect of contingent consideration - (0.6) Net movement in provisions (1.0) (1.0) 248.3 193.1 (Increase)/Decrease in inventories (9.6) 1.4 Increase in receivables (56.7) (13.0) Increase in payables 58.6 33.6 Changes in working capital 2255..55)) 3333..11 Net cash flow from operations 240.6 215.1 All figures in \u00a3 million FY23 FY22^ Let cash flow from operations 240.3 215.1 Add back specific adjusting item: digital investment 5.8 1.9 Add back specific adjusting item: restructuring costs 5.0 - Add back specific adjusting item: acquisition integration and remuneration costs 2.3 - Add back specific adjusting item: acquisition transaction costs 16.4 3.7 Underlying net cash flow from operations 270.1 220.7 Less: tax and net interest payments (34.6) (26.4) Less: purchases of intangible assets and property, plant and equipment (109.0) (84.3) Free cash flow 126.4 110.0 Notes to the Consolidated Financial Statements continued For the year ended 31 March 26. Leases Group as a lessor The Group receives rental income on certain properties. Primarily these are properties partially occupied by Group companies, with vacant space sub2let to third2party tenants. The Group had contracted with tenants for the following future minimum lease payments: Group as a lessee Amounts recognised in the balance sheet The balance sheet shows the following amounts relating to leases: Right2of2use assets (included within Property, Plant & Equipment \u2013 see note 16) Lease liabilities (included within Net cash \u2013 see note 29, Additions to the right2of2use assets during FY23 were \u00a315.5m. including \u00a314.0m due to acquisitions. The total cash outflow for leases in FY23 was \u00a38.5m. The Group had no expense relating to variable lease payments not included in the measurement of lease niabilities. Amounts recognised in the consolidated income statement The consolidated income statement includes the following amounts relating to leases: Minimum lease payment commitments The Group has the following total future minimum lease payment commitments: Lease payments represent capital and interest payable by the Group on certain property, plant and equipment. Principal leases are negotiated for a term of approximately 10 years. All figures in \u00a3 million 31 March 2023 31 March 2024 Within one year 5.7 5.7 In the second to fifth years inclusive 7.7 9.3 Greater than five years 1.8 0.5 Total future minimum lease payments 15.2 15.5 All figures in \u00a3 million 31 March 202. 31 March 2024 Land and buildings 26.8 17.4 Plant, machinery and vehicles 0.3 1.1 Computers and office equipment - - Total right of use assets net book value 27.1 18.5 All figures in \u00a3 million 31 March 202. 31 March 2024 Current 7.6 5.5 Non-current 23.7 16.6 Total lease liabilities 31.3 22.1 All figures in \u00a3 million FY23 FY22 Depreciation charge Land and buildings 5.9 4.7 Plant, machinery and vehicles 0.3 1.2 Total depreciation charge 6.2 5.9 Interest expense (included in finance cost - see note 7) 1.1 1.0 Expense relating to short-term leases (included in operating costs) 1.6 1.3 Expense relating to low value leases (included in operating costs) 0.1 0.2 Total lease and sub-lease expense charged to profit before tax 9.0 8.4 All figures in \u00a3 million 31 March 2023 31 March 2024 Within one year 7.6 5.5 In the second to fifth years inclusive 19.6 13.4 Greater than five years 4.1 3.2 Total future minimum lease payment commitments 31.3 22.1 The Group\u2019s international operations expose it to financial risks that include the effects of changes in foreign exchange rates, interest rates,
credit risks and liquidity risks.
Treasury and risk management policies, which are set by the Board, specify guidelines on financial risks and the use of financial instruments
to manage risk. The instruments and techniques used wo manage exposures include foreign currency and interest rate swap derivatives. Gtoup
treasury monitors financial risks and compliance with risk management policies during the year. There have been no changes in any risk
management policies during the year or since the year end. For details of the Group\u2019s Treasury policy and management of financial
instruments see \u2018Additional Financial Information\u2019 on page 231.
The Group manages its capital to ensure that entities in the Group will be able to continue as going concerns while maximising the return wo
stakeholders through whe optimisation of the debt and equity balance. The capital structure of the Group consists of debt, cash and cash
equivalents and equity attributable to equity holders of whe parent, comprising issued capital, reserves and retained earnings as disclosed in
the consolidated statement of changes in equity. The Group has a revolving credit facility and floating rate term loan with its relationship
banks with a requirement for the half yearly testing period that the ratio of Net Debt to EBITDA will not exceed 3.5:1 and the ratio of EBITDA
to net finance charges will not be less than 4:1. The Group complied with both covenants during the year. As at 31 March 2023, the ratio of
Net Debt to EBITDA was 0.8:1 and the ratio of EBITDA to net finance charges was 46.2:1. The revolving credit facility is undrawn at the year
end and matures in 2025. The floating rate term loan is repayable in 2025 but has 2 one year extension options.
A) Fair values of financial instruments
The table below analyses financial instruments carried at fair value, by valuation method. The different levels have been defined as follows:
Level 1 \u2013 measured using quoted prices (unadjusted) in active markets for identical assets or liabilities;
Level 2 \u2013 measured using inputs other than quoted prices included within Level 4 that are observable for the asset or liability, either directly
(i.e. as prices) or indirectly (i.e. derived from prices). Level 4 derivatives comprise forward foreign exchange contracts which have been fair
valued using forward exchange rates that are quoted in an active market; and interest rate swaps which have been fair valued using interest
rates that are quoted in an active market;
Level 3 \u2013 measured using inputs for the assets or liability that are not based on observable market data (i.e. unobservable inputs).
The following table presents the Group\u2019s assets and liabilities that are measured at fair value as at 31 March 2023:
The following table presents the Group\u2019s assets and liabilities that are measured at fair value as at 31 March 2022:
For cash and cash equivalents, trade and other receivables and bank and current borrowings, the fair value of the financial instruments
approximate to their carrying value as a result of the short maturity periods of these financial instruments. For trade and other receivables,
allowances are made within the earrying value for eredit risk. For other financial instruments, the fair value is based on market value, where
available. Where market values are not available, the fair values have been calculated by discounting cash flows to net present value using
prevailing market2based interest rates translated at the year2end rates, except for unlisted fixed asset investments where fair value equals
carrying value. There have been no transfers between levels.
All financial assets and liabilities had a fair value that is identical to book value at 31 March 2023 and 31 March 2022. Detailed analysis is
provided in the following tables:
All figures in \u00a3 million
Assets
Current derivative financial instruments
Non-current derivative financial instruments 24 - 4.7 - 4.7
Liabilities
Current derivative financial instruments 24 - (0.6)
- (0.6)
Non-current derivative financial instruments 24 - (0.5)
- (0.5)
Total
,
8.0
,
8.0
All figures in \u00a3 million Note Level 1 Level 2 Level 3 Total
Assets
Current derivative financial instruments 24 - 0.2 - 0.2
Non-current derivative financial instruments 24 - - - -
Current derivative financial instruments 24 - .
- (1.4)
Non-current derivative financial instruments 24 -
- (0.6)
Notes to the Consolidated Financial Statements continued For the year ended 31 March 27. Financial risk management (continued) As at 31 March 2023 As at 31 March 2022 All figures in \u00a3 million Note Financial assets at fair value profit and loss Financial assets at amortised cost Financial liabilities at amortised cost Derivatives used as hedges Other Total carrying value and fair value Financial assets Non-current Deferred financing costs 24 - 0.5 - - - 0.5 Current Trade receivables and similar items - 170.3 - - - 170.3 Derivative financial instruments 24 - - - 0.2 - 0.2 Deferred financing costs 24 - 0.4 - - - 0.4 Cash and cash equivalents 24 248.1 - - - - 248.1 Total financial assets 248.1 171.2 -- 0.2 - 419.5 Financial liabilities Non-current Bank borrowings 24 - - - - - - Derivative financial instruments 24 - - - (0.6) - (0.6) Lease liabilities - - - - (16.6) (16.6) Current Trade payables and similar items - - (205.3) - - (205.3) Derivative financial instruments 24 - - - (1.4) - (1.4) Lease liabilities - - - - (5.5) (5.5) Total financial liabilities , , (205.3) (2.0) (22.1) (229.4) Total 248.1 171.2 (205.3) (1.8) 122.1) 190.1 B) Interest rate risk The Group\u2019s objective is to manage its exposure to interest rate fluctuations on borrowings through varying the proportion of fixed rate debt relative to floating rate debt with debt2related derivative financial instruments, including interest rate and cross2currency swaps. All figures in \u00a3 million Note Financial assets at fair value profit and loss Financial assets at amortised cost Financial liabilities at amortised cost Derivatives used as hedges Other Total carrying value and fair value Financial assets Non-current Derivative financial instruments 24 - - - 4.7 - 4.7 Deferred financing costs 24 - 1.5 - - - 1.5 Current Trade receivables and similar items - 229.2 - - - 229.2 Derivative financial instruments 24 - - - 4.4 - 4.4 Deferred financing costs 24 - 1.3 - - - 1.3 Cash and cash equivalents 24 151.2 - - - - 151.2 Total financial assets 151.2 232.0 , 9.1 , 282.3 Financial liabilities Non-current Bank borrowings 24 - - (337.6) - - (337.6) Derivative financial instruments 24 - - - (0.5) - (0.5) Lease liabilities - - - - (23.7) (23.7) Current Trade payables and similar items - - (281.8) - - 2281.8) Derivative financial instruments 24 - - - (0.6) - (0.6) Lease liabilities - - - - (7.6) (7.6) Total financial liabilities , , 1619.4) (1.1) (31.3) 1651.8) Total 151.2 232.0 1619.4) 8.0 (31.3) 1259.5) The Group operates an interest rate policy designed to optimise interest costs and to reduce volatility in reported earnings. The Group\u2019s current policy is to require rates wo be fixed for 30%\u201380% of the nevel of borrowings, which is achieved primarily through fixed2rate borrowings or debt2 related derivative financial instruments. Where there are significant changes in the nevel and/or structure of debt, the policy permits borrowings to be 100% fixed, with regular Board reviews of the appropriateness of this fixed percentage. At 31 March 2023, the Group had 80% (2022: N/A) of fixed tate debt and 20% (2022: N/A) of floating rate debt based on gross debt of \u00a3337.6m (2022: nil, after including the impact of debt2related derivative financial assets (interest rate swaps). Financial assets/(liabilities) As at 31 March 2023 As at 31 March 2022 Floating rate financial assets attract interest based on the relevant reference rate. Floating rate financial liabilities bear interest at the relevant reference rate. Trade and other receivables/payables and deferred finance costs are excluded from this analysis. For the fixed or capped rate financial assets and liabilities, the average interest rates (including the relevant marginal cost of borrowing) and the average period for which the rates are fixed are: Sterling assets consist of debt2related derivative financial instruments. Sterling liabilities consist primarily of finance leases with the weighted average interest rate reflecting the internal rate of return of those leases. Interest rate risk management The revolving credit facility (note 27I, is floating2rate and undrawn as at 31 March 2023. As at 31 March 2023, the majority of the Group\u2019s floating rate bank borrowings were fixed through interest rate swaps which swap the Sterling floating rate interest payable into fixed rate Sterling. The notional principal amount of the outstanding interest rate swap contracts as at 31 March 2023 is \u00a3270m (31 March 2022: \u00a3nil). The swaps have the economic effect of converting floating rate borrowings into fixed rate borrowings and are accounted for as cash flow hedges. Financial assets Financial liabilities All figures in \u00a3 million Fixed or capped Floating Non2interest bearing Fixed or capped Floating Non2interest bearing Sterling 8.1 116.7 413 (4.8) (273.3) (0.9) US dollar - 2413 - (17.5) (64.3) - Euro - 0.1 - - - - Australian dollar - 6.7 - (9.0) - - Other - 3.7 - (0.2) - - Total 8.1 151.2 1.0 (31.5) (337.6 2(0.9) Financial assets Financial liabilities All figures in \u00a3 million Fixed or capped Floating Non2interest bearing Fixed or capped Floating Non2interest bearing Sterling - 214.8 0.2 (5.7) - (2.0) US dollar - 11.6 - (13.1) - - Euro - 14.5 - (1.6) - - Australian dollar - 4.9 - (1.6) - - Other - 2.3 - (0.1) - - Total -- 248.1 0.2 (22.1) -- (2.0) 31 March 2023 31 March 2022 Fixed or capped \u00a3m Weighted average interest rate % Weighted average years to maturity Fixed or capped \u00a3m Weighted average interest rate % Weighted average years to maturity CCmmnnaannccmmaapp aasssseettss88 Sterling 8.1 1.1 3.2 - - - CCmmnnaannccmmaapp ppmmaabbmmppmmttmmeess88 Sterling (4.8) 4.3 4.5 (5.7) 4.3 5.1 US dollar (17.5) 4.5 5.5 (13.1) 4.5 4.9 Euro - - - (1.6) 2.2 4.8 Australian dollar (9.0) 4.5 5.0 (1.6) 3.9 2.8 Other (0.2) 1.7 4.4 (0.1) 3.1 1.2 Total financial liabilities (31.5) 4.4 5.2 (22.1) 4.2 4.7 Notes to the Consolidated Financial Statements continued For the year ended 31 March 27. Financial risk management (continued) C) Currency risk Transactional currency exposure The Group is exposed to foreign currency risks arising from sales or purchases by businesses in currencies other than their functional currency. It is Group policy that when such a sale or purchase is certain, the net foreign exchange exposure is hedged using forward foreign exchange contracts. Hedge accounting documentation and effectiveness testing are undertaken for all the Group\u2019s transactional hedge contracts. The table below shows the Group\u2019s currency exposures (based on functional currency of the operating company-, being exposures on currency transactions that give rise to net currency gains and losses tecognised in the income statement. Such exposures comprise the monetary assets and liabilities of the Group that are not denominated in the functional currency of the operating company involved. The amounts shown in the table take into account the effect of the forward contracts entered into to manage these currency exposures. The Group enters into forward foreign currency contracts to hedge the currency exposures that arise on sales and purchases denominated in foreign currencies, as the transaction occurs. The principal contract amounts of the outstanding forward currency contracts as at 31 March 2023 against Sterling are net US dollars sold of \u00a365.4m (USD 79.6m), net Euros sold \u00a335.5m (EUR 41.3m), net Canadian dollars sold \u00a314.7m (CAD 25.6m), net United Arab Emirate dirhams sold \u00a31.3m (AED 5.7m), net Swiss Francs bought of \u00a30.4m (CHF 0.5m), net Swedish Krona sold of \u00a38.4m (SEK 43.1m), and net Australian dollars sold \u00a321.5m (AUD 39.6m)1 Translational currency exposure The Group has significant investments in overseas operations, particularly in the US. As a result, the Sterling value of the Group\u2019s balance sheet can be affected by movement in exchange rates. The Group does not hedge against translational currency exposure to overseas net assets. D) Financial credit risk The Group is exposed to crediw2related nosses in the event of non2performance by counterparties to financial instruments, but does not currently expect any counterparties to fail to meet their obligations. Credit risk is mitigated by a Board2approved policy of only selecting counterparties with a strong investment grade long2term credit rating for cash deposits. In the normal course of business the Group operates notional cash pooling systems, where a legal right of set2off applies. The maximum credit2risk exposure in the event of other parties failing to perform their obligations under financial assets, excluding trade and other receivables, totals \u00a3160.3m (34 March 2024 restated-: \u00a3248.3m). This balance includes cash and cash equivalents and derivative financial assets. The cash and cash equivalents of \u00a3151.2m at 31 March 2023 (2022: \u00a324814m) represents the maximum credit exposure on these assets. The eash and cash equivalents were held with different financial institutions which were rated single A or better. Cash equivalents comprise \u00a362.1m (31 March 2022: \u00a3182.4m) invested in AAA2rated money market funds. . This balance has been restated to exclude lease liabilities which had been included as at 31 March 2022. E) Liquidity risk Borrowing facilities As at 31 March 2023 the Group had a revolving credit facility (RCF) of \u00a3275.0m -2022: \u00a3275.0m) and floating rate term loans of \u00a3337.6m (2022: nil-. The RCF. which is unutilised, has an initial term of five years and will mature on 27 September 2025. The term loan has an initial term of 3 years and will mature on 27 September 2025. Total available funds, comprising the RCF, term loan and the Group\u2019s freely available cash and cash equivalents, are shown in the table below: . Reference rate refers to SONIA for GBP and SOFR for USD, Net foreign currency monetary assets/(liabilities) All figures in \u00a3 millions US$ Euro A$ Other Total 31 March 2023 \u2013 Sterling .4.7 3.3 0.9 4.1 26.- 31 March 2022\u2013 Sterling 3.2 2.4 0.6 3.8 10.0 Interest rate: Reference rate, plus Total \u00a3m Drawn \u00a3m Undrawn \u00a3m As at 31 March 2023 Committed facilities - RCF 0.531 275.0 - 275.0 Committed facilities \u2013 term loan 1.10% 337.6 337.6 - Freely available cash and cash equivalents - 149.6 Available funds 31 March 2023 424.6 As at 31 March 2022 Committed facilities - RCF 0.531 275.0 - 275.0 Committed facilities \u2013 term loan - - - Freely available cash and cash equivalents 246.7 Available funds 31 March 2022 521.7 Gross contractual cash flows for borrowings and other financial liabilities The following are the contractual maturities of financial liabilities, including interest payments. The cash flows associated with derivatives that are cash flow hedges are expected to have an impact on profit or loss in the periods shown. The \u00a3337.6m term loan is repayable on 27 September 2025, with two one2year extension options available, with interest periods set to three months. The loan bears interest at a variable margin over the relevant reference rate of between 1.00% and 2.50% dependent on the ratio of Net Debt to EBITDA. As at 31 March 2023 As at 31 March 2022 All figures in \u00a3 million Book value Contractual cash flows 1 year or less 1\u20132 years 2\u20135 years More than 5 years Non-derivative financial liabilities Revolving credit facility - - - - - - Trade payables and similar items (205.3) (205.3) (205.3) - - - Leases (22.1) (24.1) (6.3) (5.3) (9.5) (3.0) Derivative financial liabilities Forward foreign currency contracts \u2013 cash flow hedges (2.0) (2.0) (1.4) (0.6) - - Total (229.4) (231.4) (213.0) (5.9) (9.5) (3.0) F) Derivative financial instruments The Group has the following derivative financial instruments on the balance sheet, reported within the \u2018Other financial assets\u2019 line items. The maturity of these derivative financial instruments is as follows: All figures in \u00a3 million Book value Contractual cash flows 1 year or less 3y2 years 2\u20135 years More than 5 years Non-derivative financial liabilities Term loan (337.9) (375.8) (16.0) (16.4) (343.4) - Revolving credit facility - - - - - - Trade payables and similar items (281.8) (281.8) (281.8) - - - Leases (31.3) (32.0) (7.6) 26.5) (11 .1) 24.8) Derivative financial liabilities Forward foreign currency contracts \u2013 cash flow hedges (0.9) (0.9) (0.6) (0.3) - - Interest rate swaps (0.2) (0.2) - - (0.2) - Total 1651.8) 1690.72 1306.02123.2) 1356.7 214.8) 31 March 2023 31 March 2022 All figures in \u00a3 million Asset gains Liability losses Net Asset gains Liability losses Net Forward foreign currency contracts \u2013 cash flow hedges 1.0 (0.9) 0.1 0.2 (2.0) (1.8) Interest rate swaps 8.1 (0.2) 7.9 - - - Derivative assets/(liabilities) at the end of the year 9.1 (1.1) 8.0 0.2 (2.0) (1.8) 31 March 2023 31 March 2024 All figures in \u00a3 million Asset gains Liability losses Net Asset gains Liability losses Net Expected to be recognised: In one year or less 4.4 (0.6) 3.8 0.2 (1.4) (1.2) Between one and two years 2.5 (0.3) 2.2 - (0.6) (0.6) More than two years 2.2 (0.2) 2.0 - - - Derivative assets/(liabilities) at the end of the year 9.1 (1.1) 8.0 0.2 (2.0) (1.8) Notes to the Consolidated Financial Statements continued For the year ended 31 March 27. Financial risk management (continued) The effects of these derivatives on the Group\u2019s financial position and performance are as follows: . The weighted average hedged rate for the year for cash flow hedges is based on GBP7USD, being the most significant currency pair. The Group also has cash flow hedges relating to a number of other currency pairs aligned to its global operations. G) Maturity of financial liabilities The contractual maturity of the Group\u2019s financial liabilities is shown below: As at 31 March 2023 As at 31 March 2022 H) Sensitivity analysis The Group\u2019s sensitivity to changes in foreign exchange rates and interest rates on financial assets and liabilities as at 31 March 2023 is set out in the following table. The impact of a weakening in Sterling on the Group\u2019s financial assets and liabilities would be more than offset in equity and income by its impact on the Group\u2019s overseas net assets and earnings respectively. Sensitivity on Group\u2019s assets other than financial assets and liabilities is not included in this analysis. As at 31 March 2023 31 March 2023 31 March 2022 All figures in \u00a3 million Cash flow hedges Interest rate swaps Total Cash flow hedges Interest rate swaps Total Notional amount (gross) 327.7 270.0 597.7 228.6 - 228.6 Carrying value (current and non-current assets and (liabilities)) 0.1 7.9 8.0 (1.8) - (1.8) Maturity date 2023-2027 2025-2027 2023-2027 2022-2024 - 2022-2024 Hedge ratio 1:1 1:1 1:1 1:1 - 1:1 Change in fair value of outstanding hedging instruments in the year 1.9 7.9 9.8 (1.3) - (1.3) Change in value of hedged item used to determine hedge effectiveness 1.9 7.9 7.8 (1.3) - (1.3) Weighted average hedged rate for the year. 1.23 3.1% 1.32 - All figures in \u00a3 million Trade payables and similar items payables Bank borrowings and loan notes Derivative financial instruments Lease liabilities Total Due in one year or less 281.8 - 0.6 7.6 290.0 Due in more than one year but not more than two years - - 0.3 918 6.8 Due in more than two years but not more than five years - 337.9 0.2 24.1 350.9 Due in five years or more - - - 4.1 4.1 Total 171.8 337.6 1.1 31.3 651.8 All figures in \u00a3 million Trade payables and similar items payables Bank borrowings and loan notes Derivative financial instruments Lease liabilities Total^ Due in one year or less 205.3 - 1.2 5.3 212.2 Due in more than one year but not more than two years - - 0.9 4.8 5.3 Due in more than two years but not more than five years - - - 8.7 8.7 Due in five years or more - - - 3.2 3.2 Total 205.3 - - 2.0 42.. 229.4 1% decrease in interest rates 10% weakening in Sterling All figures in \u00a3 million Equity 1 Profit before tax Equity Profit before tax Sterling (0.1) 1.6 - - US dollar - 0.4 0.1 0.1 Other - (0.1) 0.5 - . This relates to the impact on items charged directly to equity and excludes the impact on profit/loss for the year flowing into equity.
As at 31 March 2022
. This relates to the impact on items charged directly to equity and excludes the impact on profit/loss for the year flowing into equity.
The amounts generated from whe sensitivity analysis are forward2nooking estimates of market risk assuming that certain market conditions
occur. Actual results in the future may differ materially from those projected as a result of developments in global financial markets that may
cause fluctuations in interest and exchange rates to vary from the hypothetical amounts disclosed in whe previous tables, which should not,
therefore, be considered to be a projection of likely future events and losses.
The estimated changes for interest rate movements are based on an instantaneous decrease or increase of 1% (100 basis points) in the
specific rate of interest applicable to each class of financial instruments from the levels effective at 31 March 2023. with all other variables
remaining constant. The estimated changes for foreign exchange rates are based on an instantaneous 10% weakening or strengthening in
Sterling against all other currencies from the levels applicable at 31 March 2023, with all other variables remaining constant. Such analysis is
for illustrative purposes only \u2013 in practice market rates rarely change in isolation. The impact of transactional risk on the Group\u2019s monetary
assets/liabilities that are not held in the functional currency of the entity holding those assets/liabilities is minimal.
28. Post)retirement benefits
Defined contribution plans
The Group operates c number of defined contribution pension arrangements, the largest of which is in the UK and provided by the Mercer
Master Trust. A defined contribution plan is a pension plan under which whe Group and employees pay fixed contributions to a third2party
financial provider. The Group has no negal or constructive obligations to pay further contributions if the fund does not hold sufficient assets
to pay all employees the benefits relating to gmployee service in the current and prior periods. The contributions are tecognised as an employee
benefit expense when they are due. The expense incurred during the year was \u00a355.2m -FY22: \u00a349.4m). Prepaid contributions are recognised
as an asset to the extent that a cash refund or a reduction in the future payments is available.
Defined benefit pension plan
In the UK the Group operates whe QinetiQ Pension Scheme -\u2018the Scheme\u2019) for approximately one fifth of its UK employees. The Scheme closed
to future accrual on 31 October 2013 and there is no on2going service cost. The Scheme is a final salary plan, which provides benefits to members
in the form of a guaranteed level of pension payable for life.
The level of benefits provided depends on the members\u2019 length of service and their final pensionable earnings at closure to future accrual. In
the Scheme, pensions in payment are generally updated in line with the Consumer Price Index (CPI). The benefit payments are made from
Trustee2administered funds.
Plan assets held in trusts are governed by UK regulations as is the nature of the relationship between the Group and the Trustees and their
composition. Responsibility for the governance of the Scheme \u2013 including investment decisions and contribution schedules \u2013 lies with the
Board of Trustees with consultation with the Company as needed. The Board of Trustees must be composed of representatives of the
Company and plan participants in accordance with the Scheme\u2019s rules.
interest rates
in Sterling
All figures in \u00a3 million Equity
tax Equity
tax
Sterling 0.1 21.
- -
US dollar - 20.
20.3
(0.1)
Other - 0.1
-
interest rates
in Sterling
All figures in \u00a3 million Equity
tax Equity
tax
Sterling -
- -
US dollar -
2.6 -
Other -
2.4 -
interest rates
in Sterling
All figures in \u00a3 million Equity
tax Equity
tax
Sterling -
2.1
-
-
US dollar - 0.1
-
Other - 0.2
-
Notes to the Consolidated Financial Statements continued For the year ended 31 March 28. Post)retirement benefits (continued) The asset recognised in the balance sheet in respect of the defined benefit pension plan is the fair value of plan assets less the present value of the defined benefit obligation at whe end of whe reporting period. The defined benefit obligation is calculated bi2annually by independent actuaries using the projected unit credit method. Future cash flows of the Scheme which are subject to inflation are calculated using a CPI inflation assumption for the majority of whe cash flows, with a small proportion of cash flows linked to RPI. LAS 19 requires the inflation assumptions to be market2based assumptions, as opposed to being based on economic forecasts. The present value of the defined benefit obligation is determined by discounting the estimated, inflated future cash outflows using interest rates of high quality corporate bonds and that have terms to maturity approximating to the terms of the related pension obligation. Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or eredited to equity in other comprehensive income in the period in which they arise. The Group has no further payment obligations once whe agreed contributions have been paid. The expected employer cash contribution to the Scheme for the year ending 31 March 2024 is \u00a33.4m. Triennial funding valuation The most recent completed full actuarial valuation of whe Scheme was undertaken as at 30 June 2020 and resulted in an actuarially assessed surplus of \u00a3176.5m (relative to the technical provisions i.e. the level of assets agreed by the Trustee and the Company as being appropriate to meet member benefits, assuming the Scheme continues as a going concern). The next triennial valuation will be performed as at 30 June 2023. The agreed recovery plan requires \u00a32.8m per annum (at 2021 prices) distributions to the Scheme until 31 March 2032, indexed by reference to CPI. Such distributions are from the Group\u2019s Pension Funding Limited Partnership, see below. QinetiQ\u2019s Pension Funding Partnership (PFP) structure On 26 March 2012 QinetiQ established the QinetiQ PFP Limited Partnership (the \u2018Partnership\u2019) with the Scheme. Under this arrangement, properties to the capitalised value of \u00a332.3m were transferred to the Partnership. The wransfers were gffected through a 202year sale and leaseback agreement. The Scheme\u2019s interest in the Partnership entitles it to an annual distribution of approximately \u00a32.5m (from 2012) for 20 years, indexed with reference to CPI. The Scheme\u2019s interest in the Partnership will revert back to QinetiQ Limited in 2032. The Partnership is controlled by QinetiQ and its tesults are consolidated by the Group. Under IAS 19, the interest held by the Scheme in whe Partnership does not qualify as a plan asset for the purposes of the Group\u2019s consolidated financial statements and is, therefore, not included within the fair value of plan assets. As a result, the Group\u2019s consolidated financial statements are unchanged by the Partnership. In addition, the value of the property transferred to the Partnership and leased back to QinetiQ remains on the balance sheet. QinetiQ retains whe operational flexibility wo substitute properties of equivalent value within the Partnership and has the option to settle outstanding amounts due under the interest before 2032 if it so chooses. Other UK schemes In the UK the Group has a small number of employees for whom benefits are secured through the Prudential Platinum Scheme (\u2018PPS\u2019). The PPS scheme is always fully funded and has a very small surplus at year end. QinetiQ also offers employees access to a Group Self Invested Personal Pension Plan, but no Company contributions are paid to this arrangement. Defined benefit pension plan (\u2018Scheme\u2019) net pension asset The Scheme is in a net asset position with the market value of assets in excess of the present value of Scheme liabilities. These have the values set out below as at 31 March of each year end. The balance sheet net pension asset is a snapshot view which can be significantly influenced by short2term market factors. The calculation of the net asset depends on factors which are beyond the control of whe Group \u2013 principally the value of the various categories of assets in which the Scheme has invested and long2term interest rates and inflation rates used to value the Scheme\u2019s liabilities. This is particularly pertinent at current times whilst markets are highly volatile. Sensitivities and risks are described on page 2071 The key driver for the decrease in the net pension asset since the March 2022 year end was the turmoil in financial markets following whe Government\u2019s \u2018mini2budget\u2019 in September 2022, particularly a sharp increase in gilt yields (and reduced gilt prices). Prior to the \u2018mini2budget\u2019 the Scheme was 100% hedged on both interest rate and inflation risk, and significant levels of collateral were required to maintain such hedging levels. The spike in gilt yields in October 2022 eroded the collateral required to be held in the LDI portfolio to such an extent that the hedges needed to be reduced to a nower level, covering approximately 65% of the interest rate tisk and 80% of the inflation rate tisk. Subsequent falls in gilt yields meant that, as interest rate risk was then 35% unhedged, the Scheme suffered a loss in value. All figures in \u00a3 million 31 March 202- 31 March 2024 Total market value of assets \u2013 see table below for analysis by category of asset 1,355.2 2,065.7 Present value of Scheme liabilities (1,235.4) (1,703.5) Net pension asset before deferred tax 1.6.8 362.2 Deferred tax liability (35.4) (96.4) Net pension asset after deferred tax 84.4 265.8 This reduced level of hedging was maintained through to 31 March 2023, as measured on the Trustees\u2019 gilt2funded basis. Over the course of the year, the fall in value of assets across the whole investment portfolio (primarily LDI2related collateral) was in excess of the reduction in Scheme liabilities (which also fell substantially, primarily due to an increase in the discount rate). Total expense recognised in the income statement Movement in the net pension asset The movement in the net pension asset (before deferred tax) is set out below: Fair value of Scheme assets by type of asset The fair value of the Scheme\u2019s assets, which are not intended to be realised in the short term and may be subject to significant changes before they are realised, were: 1 Asset backed securities are used as collateral for the LDI. As gilt yields spiked during the year, the LDI drew down on significant levels of security, causing the year on year drop shown above. 2 Primarily private market debt investments. 4 Unlisted corporate bonds with commercial property held as security, The Scheme\u2019s assets do not include any of the Group\u2019s own transferable financial instruments, property occupied by, or other assets used by the Group. The insurance policies obtained by the pension scheme can only be used to pay or fund employee benefits under the Company\u2019s defined benefit plan. They are not available to the Company\u2019s own creditors and cannot be paid to another entity. These are the requirements of IAS 19 paragraph 7 and hence our determination is that the insurance policies are qualifying insurance policies and require classification as a plan asset. The policies were issued by insurers that are not a related party1 Per the Scheme rules the Company has an unconditional tight to a refund of any surplus, assuming gradual settlement of all liabilities over time. Such surplus may arise on cessation of the Scheme in the context of IFRIC 25 paragraphs 11(b) and 23 and therefore the full net pension asset can be recognised on the Group\u2019s balance sheet and the Group\u2019s minimum funding commitments to the Scheme do not give rise to an additional balance sheet liability. All figures in \u00a3 million FY23 FY22 Net finance income 9.9 218 Past service cost - (2.4) Administrative expenses (1.4) (1.1) Total net income recognised in the income statement (gross of deferred tax) 8.5 1.0 All figures in \u00a3 million FY23 FY22 Opening net pension asset 362.2 214.3 Net finance income 9.9 218 Net actuarial (loss)/gain (253.9 ) 144.0 Administrative expenses (1.4) (1.1) Past service cost - (2.4) Contributions by the employer 3.0 2.9 Closing net pension asset 1.6.8 362.2 31 March 2024 31 March 2024 All figures in \u00a3 million Quoted Not quoted in an active market Total Quoted Not quoted in an active market Total Equities 177.4 32.9 321.3 176.1 44.7 220.8 Liability Driven Investment 227.2 - 227.2 291.8 - 291.8 Asset backed security investments 2 4.3 - 4.3 501.7 - 501.7 Alternative bonds ) - 256.4 259.4 - 208.6 208.6 Corporate bonds - - 417.6 417.6 - 97.4 97.4 Property funds - - - - 29.5 29.5 Cash and cash equivalents - 17.2 17.2 - 58.3 58.3 Derivatives - 6.7 6.7 - (8.5) (8.5) Insurance buy-in policies - 515.5 515.5 - 645.9 645.9 Total market value of assets 408.9 646.3 1,322.2 969.6 1,096.1 2,065.7 Notes to the Consolidated Financial Statements continued For the year ended 31 March 28. Post)retirement benefits (continued) Changes to the fair value of Scheme assets Changes to the present value of Scheme liabilities The present value of the Scheme\u2019s liabilities, which are derived from cash flow projections over long periods, and thus inherently uncertain, were: All figures in \u00a3 million FY23 FY22 ppening present value of Scheme liabilities (1,703.5) (1,857.5) Interest cost (45.9) (38.5) Actuarial gain/(loss) on Scheme liabilities based on: Change in demographic assumptions 45.9 5.9 Change in financial assumptions 588.0 107.5 Experience (losses)/gains (171.4 ) 36.5 Past service cost - (2.4) Net benefits paid out and transfers 51.6 45.0 Closing present value of Scheme liabilities (1-235.4 ) (1,703.5) The net actuarial gains are primarily due to a decrease in value of the financial assumption for the discount rate (see Assumptions section below). Assumptions The major assumptions used in the IAS 19 valuation of the Scheme\u2019s liabilities were: The assumptions used by the actuary are the best estimates chosen from a range of possible actuarial assumptions which, because of the timescale covered, may not necessarily be borne out in practice. It is important to note that these assumptions are long term and, in the case of the discount rate and the inflation rate, are measured by reference to external market indicators. The discount rate is based on observable yields on corporate bonds but there is no direct, observable market rate for CPI. A \u2018market approach\u2019 to deriving CPI involves adjusting a market2based RPI rate downward by an \u2018inflation risk premium\u2019 and an RPI2CPI adjustment factor (determined from televant market yield curves). This market2based approach is required by IAS 19 and results in a CPI inflation rate significantly in excess of the Bank of England long term target and also in excess of a consensus view of CPI (based on surveys of economists). However, adopting an economie eonsensus approach to setting CPI inflation is not acceptable under accounting standards. The mortality assumptions for both the current and prior year were based on the S3 Normal Lives base tables, with various scaling factors based on sex and status. For the 31 March 2023 assumptions each of whe various scaling factors were 8ppts higher than as at 31 March 2022, reflecting the negative impact of COVLD219 on future life expectancy. Ellowance, in both years, was made for improvements in mortality in line with CMI_2021 Core Projections and a long2term rate of improvement of 1.25% per annum. All figures in \u00a3 million FY23 FY22 Opening fair value of Scheme assets 2,065.7 2,071.8 Interest income on Scheme assets 55.8 43.0 Re-measurement loss on Scheme assets (71616 ) (5.9) Contributions by the employer 3.0 2.9 Net benefits paid out and transfers (51.6) (45.0) Administrative expenses (1.4) (1.1) Closing fair value of Scheme assets 1,322.2 2,065.7 31 March 2023 31 March 2022 All figures in \u00a3 million 4nsured members Uninsured members 4nsured members Uninsured members Discount rate applied to Scheme liabilities 4.80% 4.65% 2.60% 2.50% CPI inflation assumption 2.55% 2.70% 3.00% 2.90% Net rate (discount rate less inflation) 2.25% 1.95% (0.20%) (0.20%) Assumed life expectancies in years: At 60 for males currently aged 40 n/a 27.9 n/a 28.4 At 60 for females currently aged 40 n/a 1..4 n/a 30.7 At 60 for males currently aged 60 n/a 26.2 n/a 37.7 At 60 for females currently aged 60 n/a 28.2 n/a 28.6 At 65 for males currently aged 63 21.6 n/a 22.0 n/a At 65 for females currently aged 63 23.3 n/a 23.7 n/a The funding of the Scheme is based on long2term trends and assumptions relating to market growth, as advised by qualified actuaries and investment advisors. The weighted average duration of the defined benefit obligation is approximately 20 years. The sensitivity of the Scheme liabilities to each of the key assumptions is shown in the following table. Sensitivity analysis of the principal assumptions The impact of movements in Scheme liabilities will, to an extent, be offset by movements in the value of Scheme assets as the Scheme has assets invested in a Liability Driven Investment rortfolio. As at 31 March 2024 whis portfolio hedgef against approximately 951 of the interest rate risk and also 95% of the inflation rate risk, as measured on the Trustees\u2019 gilt2funded basis. During whe current financial year, due to the increased volatility in gilt yields and reflecting increased liquidity requirements for Schemes running LDI portfolios, the hedges have been amended to eover approximately 65% of the interest rate risk and 80% of the inflation rate risk as at 31 March 2023, as measured on the Trustees\u2019 gilt2funded basis. The above sensitivity analyses are based on a change in an assumption while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated. When calculating the sensitivity of the defined benefit obligation to significant actuarial assumptions the same method (projected unit credit method) has been applied as when calculating the pension liability recognised within the statement of financial position. The methods and types of assumption did not change. In addition to the sensitivity of the liability side of the net pension asset (which will impact whe value of the net pension asset) the net pension asset is also exposed to significant variation due to changes in the fair value of Scheme assets. A specific sensitivity on assets has not been included in the above table but any change in valuation of assets flows straight through to the value of the net pension asset e.g. if equities fall by \u00a310m then the net pension asset falls by \u00a310m. The values of unquoted assets assume that an available buyer is willing to purchase those assets at that value. For the Group\u2019s portfolio of assets, the unquoted alternative bonds of \u00a3256.9m; the unquoted corporate bonds of \u00a3117.6m and the unquoted equities of \u00a332.Am are the assets with most uncertainty as to valuation as at 31 March 2023. The accounting assumptions noted are used to calculate the year end net pension asset in accordance with the relevant accounting standard, IAS 19 (revised) \u2018Employee Benefits\u2019. Changes in these assumptions have no impact on the Group\u2019s cash payments into the Scheme. The payments into the Scheme are reassessed after every triennial valuation. The triennial valuations are calculated on a funding basis and use a different set of assumptions, as agreed with the pension Trustees. The key assumption that varies between the two methods of valuation is the discount rate. The funding basis valuation uses the risk2free rate from UK gilts as the base for calculating the discount rate, whilst the IAS 19 accounting basis valuation uses corporate bond yields as the base. Risks Through its defined benefit pension plan, the Group is exposed to a number of risks, the most significant of which are detailed below: Assumption Indicative impact on Scheme assets Indicative impact on Scheme liabilities Indicative impact on net pension asset Increase discount rate by 0.1% Decrease by \u00a37.0m Decrease by \u00a321.7s Decrease by \u00a314.7s Increase rate of inflation by 0.1% Increase by \u00a35.5m Increase by \u00a320.6s Increase by \u00a315.1s Increase life expectancy by one year Increase by \u00a314.3m Increase by \u00a334.0s Decrease by \u00a319.7s Volatility in market conditions Results under IAS 19 can change dramatically depending on market conditions. The present value of Scheme liabilities is linked to yields on corporate bonds, while many of the assets of the Scheme are invested in various forms of assets subject to fluctuating valuations. Changing markets in conjunction with discount rate volatility will lead to volatility in the net pension asset on the Group\u2019s balance sheet and in other comprehensive income. To a lesser extent this will also lead to volatility in the IAS 19 pension net finance income in the Group\u2019s income statement. Choice of accounting assumptions The calculation of the present value of Scheme liabilities involves projecting future cash flows from the Scheme many years into the future. This means that the assumptions used can have a material impact on the balance sheet position and profit and loss charge. In practice future experience within the Scheme may not be in line with the assumptions adopted. For example, members could live longer than foreseen or inflation could be higher or lower than allowed for in the calculation of the liabilities. Notes to the Consolidated Financial Statements continued For the year ended 31 March 29. Share capital and other reserves Shares allotted, called up and fully paid: Except as noted below all shares in issue at 31 March 2023 rank pari2passu in all respects. Rights attaching to the Special Share QinetiQ carries out activities which are important to UK defence and security interests. To protect these interests in the coptext of the ongoing commercial relationship between the MOD and QinetiQ, and to promote and reinforce the Compliance Principles, the MOD holds a Special Share in QinetiQ. QinetiQ obtained MOD consent wo changes in its Special Shareholder rights, which were approved by shareholders at the 2012 AGM. The changes to the Special Share were disclosed in whe 2012 Annual Report. Subsequent to the changes approved at the 2012 AGM the Special Share confers certain rights on the holder: a) to require the Group to implement and maintain the Compliance System (as defined in the Articles of Association) so as to make at all times effective its and each member of QinetiQ Controlled Group\u2019s application of the Compliance Principles, in a manner accepwable to the Special Shareholder b) to refer matters to the Board for its consideration in relation to the application of the Compliance Principles c) to require the Board to obtain Special Shareholder\u2019s consent: i) if at any time when the chairman is not a British eitizen, it is proposed to appoint any person to the office of chief executive, who is not a British eitizen ii) if at any time when the chief executive is not a British eitizen, it is proposed to appoint any person to the office of chairman, who is not a British eitizen d) to require the Board to take action to rectify any omission in the application of the Compliance Principles, if the Special Shareholder is of the opinion that such steps are necessary to protect the defence or security interests of the United Kingdom e) to demand a poll at any of QinetiQ\u2019s meetings (even though it may have no voting rights except those specifically set out in the Articles). The Special Shareholder has an option to purchase defined Strategic Assets of the Group in certain circumstances. The Special Shareholder has, inter alia, the right to purchase any Strategic Assets which the Group wishes to sell. Strategic Assets are normally testing and research facilities (see note 31 for further details). The Special Share may only be issued to, held by and transferred to HM Government (or as it directs). At any time the Special Shareholder may require QinetiQ to redeem the Special Share at par. If QinetiQ is wound up the Special Shareholder will be entitled to be repaid the capital paid up on the Special Share before other shareholders receive any payment. The Special Shareholder has no other right to share in the capital or profits of QinetiQ and the Special Shareholder must give consent to a general meeting held on short notice. The Special Share entitles the Special Shareholder to require certain persons who hold -together with any person acting in concert with them- a material interest in QinetiQ to dispose of some or all of their ordinary shares in certain prescribed circumstances on the grounds of national security or conflict of interest. The Directors must register any transfer of the Special Share within seven days. Other reserves The translation reserve includes the cumulative foreign exchange difference arising on translation since the Group transitioned to IFRS. Movements on hedging instruments, where the hedge is effective, are recorded in the hedge reserve until the hedge ceases. The capital redemption reserve, which was created following the redemption of preference share capital and the bonus issue of shares, cannot be distributed. Own shares Own shares represent shares in the Company that are held by independent trusts and include treasury shares and shares held by the employee share ownership plan. Included in retained earnings at 31 March 2023 are 4,208,899 shares (2022: 6,816,291 shares)1 Ordinary shares of 1p each (equity) Special Share of \u00a31 (non2equity) Total \u00a3 Number \u00a3 Number \u00a3 Number As at 1 April 2023 5,787,571 578,757,121 4 4 5,787,572 578,757,122 Issue of new shares - - - - - - At 31 March 2012 5,787,571 578,757,121 . . 5,787,572 578,757,122 Ordinary shares of 1p each (equity) Special Share of \u00a31 (non2equity) Total \u00a3 Number \u00a3 Number \u00a3 Number As at 1 April 2024 5,742,571 574,257,121 1 1 5,742,572 574,257,122 Issue of new shares 45,000 4,500,000 - - 45,000 4,500,000 At 31 March 2022 5,787,571 578,757,121 . . 5,787,572 578,757,122 30. Share)based payments
The Group operates a number of share2based payment plans for employees. The total share2based payment expense in the year was \u00a37.9m,
all relating wo equity2settled schemes -FY22: \u00a37.8m, all relating to equity2settled schemes). The share2based payment charged to equity is
\u00a35.7m consisting of the \u00a37.9m charge to the income statement offset by a \u00a30.4m charge to equity in respect of dividends accruing on
unvested awards and \u00a31.8m of cash payments relating to the Bonus Banking Plan.
Group Share Incentive Plan (SIP)
Under the QinetiQ SIP the Group offers UK employees the opportunity of purchasing up to \u00a3150 worth of shares a month at the prevailing
market rate. The Group will make a matching share award of a third of the employee\u2019s payment. The Group\u2019s matching shares may be
forfeited if the employee ceases to be employed by QinetiQ within three years of the award of the shares. There is no exercise price for these
SIP awards.
SIP matching shares are equity2settled awards; those outstanding at 31 March 2023 had an average remaining nife of 1.5 years -2022: 1.8
years). There is no exercise price for these SIP awards. Of the shares outstanding at the end of the year nil were exercisable (2022: nil).
Bonus Banking Plan (BBP)
During the year the Group granted BBP awards to certain senior executives in the UK and US1
The BBP is a remuneration scheme that runs in three2year performance cycles, with each cycle vesting over a four2year period. Under the
BBP a contribution will be made by the Company into the participant\u2019s Plan account following the end of each Plan year. 50% of the value
of a participant\u2019s Plan account will be paid out annually for three years with 100% of the residual value paid out at the end of year four.
50% of the unpaid balance of a participant\u2019s bonus account will be at risk of forfeiture. Refer to the Directors\u2019 Remuneration Report for
further details.
At 31 March 2023 the awards had an average remaining life of 1.7 years (2022: 1.6 years). There is no exercise price for these awards.
The fair value of the awards at 31 March 2023 was \u00a33.36 (2022: \u00a33.02) being the Group\u2019s 30 day average on 31 March. Uf the awards
outstanding at the end of the year nil were exercisable.
Deferred Share Plan (DSP%
During the year the Group granted DSP awards to certain employees.
Number of
matching
shares
Number of
matching
shares
Outstanding at start of the year
Exercised during the year (220,369
(247,433)
Forfeited during the year (63,350
(38,650)
Outstanding at end of the year
FY23
Number of
awards
FY22
Number of
awards
Outstanding at start of the year 1,122,439 1,942,855
Exercised during the year
Forfeited/lapsed during the year
Outstanding at end of the year
FY23
Number of
FY22
Number of
Outstanding at start of the year 6,876,423 6,761,362
Difference between actual awards in year and amount provisionally awarded in prior year
Exercised during the year
Provisionally awarded during the year 3,034,279 1,783,671
Outstanding at end of the yea;
Provisional awards outstanding
Outstanding at end of the year
6,968,721 6,876,423
Notes to the Consolidated Financial Statements continued For the year ended 31 March 30. Share)based payments (continued) The number of awards is dependent on the Group\u2019s performance during the year (specifically with respect to the Group revenue growth). This is provisionally quantified at year end based on Group performance and also the number of eligible employees in employment as at 31 March. Actual awards are made in the following June and the final number awarded will be slightly different to the number provisionally calculated. Awards are then subject to a three2year vesting period and a further two2year holding period. eesting of the awards is contingent upon Group operating profit in the year prior to vesting being maintained at the level reported during whe year prior to award. Refer to the Directors\u2019 Remuneration Report for further details. At 31 March 2023 the awards had an average remaining life of 2.4 years (2022: 1.8 years). There is no exercise price for these awards. The fair value of the DSP\u2019s provisionally awarded at 31 March 2028 was \u00a33.34 being whe Group\u2019s 30 day average. The weighted average share price at date of exercise was \u00a33.64 (2022: \u00a33.50). Of the awards outstanding at the end of the year nil were exercisable. Restricted share plan (RSP) During the year the Group granted RSP awards to certain senior executives in the UK and US. At 31 March 2023 the awards had an average remaining life of 1.4 years (2022: 1.9 years). There is no exercise price for these awards. The weighted average fair value of grants made during the year was \u00a33.41 (2022: \u00a32.75). The weighted average share price at date of exercise was \u00a33.17 (2022: \u00a33.06). Of the options outstanding at the end of the year nil were exercisable (2022: pil). Value Creation Plan (VCP) The Group has granted awards under a Value Creation Plan to certain senior executives in the US. At 31 March 2023 the awards had an average remaining life of 0.2 years (2022: 1.2 years). There is no exercise price for these awards. The weighted average fair value of grants made during whe year was \u00a3nil (2022: nil-. Of the options outstanding at the end of the year tol were exercisable. High Performance Share Award (HPSA) In a prior year, as one of eight initial measures in response to the COVID219 pandemic, the senior leaders agreed to, on average, a temporary base salary reduction of 15%. To both recognise the senior leaders for their sacrifice and to incentivise them to lead the Group through the crisis as quickly and effectively as possible, the Group adopted a new award called High Performance Share Award (HPSA). The HPSA was awarded in November 2020 as a \u2018Thank Q\u2019 to senior leaders for their sacrifice and enormous efforts wo lead their teams out of unprecedented crisis. The fair value of QinetiQ shares on grant date was \u00a32.70 and the awards vest in June 20231 At 31 March 2023 the awards had an average remaining life of 0.3 years (2022: 1.3 years). Of the awards outstanding at the end of the year nil were exercisable. Valuation of share-based awards Share2based awards that vest based on non2market performance conditions have been valued at the share price at grant date and are equity2settled. FY23 Number of awards FY22 Number of awards Outstanding at start of the year 560,002 148,857 Granted during the year 608,158 495,685 Exercised during the year (221,998) (68,217) Lapsed during the year (4,814) (16,323) Outstanding at end of the year 941,348 560,002 FY23 Number of awards FY22 Number of awards Outstanding at start of the year 206,675 335,848 Forfeited during the year (31,576) (129,173) Outstanding at end of the year 175,099 206,675 FY23 Number of awards FY22 Number of awards Outstanding at start of the year 1,336,372 1,336,372 Lapsed during the year (13,041) - Outstanding at end of the year 1,323,331 1,336,372 31. Transactions with the Ministry of Defence (MOD% The MOD continues to own its Special Share in QinetiQ which conveys certain rights as set out in note 29. Transactions between the Group and the MOD are disclosed as follows: Freehold land and buildings and surplus properties Under the terms of the Group\u2019s acquisition of part of the business and certain assets of DERA from the MOD on 1 July 2001, the MOD retained certain rights in respect of the freehold land and buildings transferred. Restrictions on transfer of title The title deeds of those properties with strategic assets (see below) include a clause that prevents their transfer without the approval of the MOD. The MOD also has the right to purchase any strategic assets in certain circumstances. MOD\u2019s generic compliance regime Adherence to the generic compliance system is monitored by the Risk & Security Committee. Refer to the Committee\u2019s report within the Corporate Governance Statement on page 129. Strategic assets Under the Principal Agreement with the MOD, the QinetiQ controlled Group is not permitted without the written consent of the MOD, to: i) dispose of or destroy all or any part of a strategic asset; or ii) voluntarily undertake any closure of, or cease to provide a strategic capability by means of, all or any part of a strategic asset. The net book value of assets identified as being strategic assets as at 31 March 2023 was \u00a33.0m (2022: \u00a33.Am). Long Term Partnering Agreement On 27 February 2003 QinetiQ Limited entered into a Long Term Partnering Agreement (LTPA) to provide west and gvaluation (T&E) facilities and training support services to the MOD. This is a 252year contract with a total revenue value of up to \u00a35.6bn, dependent on the level of usage by the MOD, under which QinetiQ Limited is committed to providing T&E services with increasing efficiencies through cost saving and innovative service delivery. Following an amendment to the LTPA eontract on 5 April 2019 this conttact is no longer subject to re2pricing every five years and is now contracted at a fixed price to 31 March 2028. Other contracts with MOD The LTPA is the most significant contract QinetiQ has with the MOD. In total approximately 57% (FY22: 62%) of the Group\u2019s revenue comes directly from contracts with the MOD. 32. Contingent liabilities and assets Subsidiary undertakings within the Group have given unsecured guarantees of \u00a333.6m at 31 March 2023 -2022: \u00a337.2m) in the ordinary course of business, typically in respect of performance bonds and rental guarantees. The Company has on occasion been required to take legal action to protect its intellectual property rights, to enforce commercial contracts or otherwise and similarly to defend itself against proceedings brought by other parties, including in respect of environmental and regulatory issues. Provisions are made for the expected costs associated with such matters, based on past experience of similar items and other known factors, taking into account professional advice received, and tepresent management\u2019s best estimate of the likely outcome. The timing of utilisation of these provisions is uncertain pending whe outcome of various court proceedings, ongoing investigations and negotiations. However, no provision is made for proceedings which have been or might be brought by other parties unless management, taking into account professional advice received, assesses what it is more likely than not that such proceedings may be successful. Contingent liabilities associated with such proceedings have been identified but the Directors are of the opinion that any associated claims that might be brought can be resisted successfully and therefore the possibility of any outflow in settlement is assessed as remote. 33. Capital commitments The Group had the following capital commitments for which no provision has been made: Capital commitments at 31 March 2023 include \u00a321.2m -2022: \u00a324.5m, in relation to property, plant and equipment that will be wholly funded by a third2party customer under long2term contract arrangements. These primarily relate to investments under the LTPA contract. 12. Related parties During the year ended 31 March 2023 there were sales to associates and joint ventures of \u00a30.9m (FY22: \u00a35.2m). At the year2end there were outstanding receivables from associates and joint ventures of \u00a30.5m (FY22: \u00a31.0m). All figures in \u00a3 million 31 March 4223 31 March 2021 Total contracted 43.4 34.7 Notes to the Consolidated Financial Statements continued For the year ended 31 March .0. Subsidiaries and other related undertakings In accordance with section 409 of the Companies Act 2006, a full list of subsidiaries and other related undertakings as at 31 March 2023 is detailed below. Unless stated otherwise, the Group\u2019s holding comprises ordinary shares which are held indirectly by QinetiQ Group plc, with the exception of QinetiQ Group Holdings Limited which is held directly by QinetiQ Group plc. Name of company Country of incorporation Registered office Subsidiaries 1,6 Aerospace Training Services Pty Ltd. Australia Level 33, 101 Collins Street, Melbourne, VIC 3000, Australia Air Affairs (Australia) Pty Ltd Australia Level 33, 101 Collins Street, Melbourne, VIC 3000, Australia Air Affairs Aviation Pty Ltd. Australia Level 33, 101 Collins Street, Melbourne, VIC 3000, Australia Air Target Services Pty Ltd. Australia Level 33, 101 Collins Street, Melbourne, VIC 3000, Australia Astra Aerospace Pty Ltd. Australia Level 33, 101 Collins Street, Melbourne, VIC 3000, Australia Avantus Federal LLC USA 8281 Greensboro Drive, Ste 400, OcLean, VA 22102, USA Avantus Federal Services LLC USA 8281 Greensboro Drive, Ste 400, McLean, VA 22102, USA Avantus National Security Solutions LLC USA 8281 Greensboro Drive, Ste 400, OcLean, VA 22102, USA BJ Trustee Limited England & Wales Farnborough - cueSim Limited England & Wales Farnborough - Data Works LLC USA 8281 Greensboro Drive, Ste 400, McLean, VA 22102, USA E3 Federal Solutions PR Inc. USA 8281 Greensboro Drive, Ste 400, OcLean, VA 22102, USA Erial LLC USA 8281 Greensboro Drive, Ste 400, OcLean, VA 22102, USA Far Ridgeline Engagements LLC USA 8281 Greensboro Drive, Ste 400, OcLean, VA 22102, USA Foster-Miller Canada Limited Canada 318 Roxton Drive, Waterloo, Ontario, N2T 1R6, Canada Foster-Miller Inc ) USA 350 2 0. Avenue, Waltham, Massachusetts, MA 02451, USA Graphics Research Corporation Limited England & Wales Farnborough - Gyldan 11 Limited England & Wales Farnborough - Inzpire Group Limited England & Wales Farnborough - Inzpire Holdings Limited England & Wales Landmark House West, Unit 1b, Alpha Court, Kingsley Road, Lincoln, Lincolnshire, LN6 3TA Inzpire Limited England & Wales Landmark House West, Unit 1b, Alpha Court, Kingsley Road, Lincoln, Lincolnshire, LN6 3TA Hirose Holdings Pty Ltd. Australia Level 33, 101 Collins Street, Melbourne, VIC 3000, Australia Leading Technology Limited England & Wales Farnborough - Lucid Perspectives LLC USA 8281 Greensboro Drive, Ste 400, OcLean, VA 22102, USA MTEQ Precision Machining LLC USA 10440 Furnace Road, Suite 204, Lorton, VA 22079,, USA Metrix UK Limited England & Wales Farnborough - Naimuri Limited England & Wales Farnborough - Occam\u2019s Razor Technologies LLC USA 8281 Greensboro Drive, Ste 400, OcLean, VA 22102, USA Operational Intelligence LLC USA 8281 Greensboro Drive, Ste 400, OcLean, VA 22102, USA Precis (2187) Limited England & Wales Farnborough - Precis (2188) Limited England & Wales Farnborough - Qinetic Limited England & Wales Farnborough - QinetiQ Aerostructures Pty Ltd Australia Level 3, 210 Kings Way, South Melbourne, VIC 3205, Australia QinetiQ Australia Pty Ltd Australia Level 3, 210 Kings Way, South Melbourne, VIC 3205, Australia QinetiQ Consulting Pty Ltd Australia Level 3, 12 Brindabella Court, Brindabella Business Park, Majura ACT 2609, Australia, QinetiQ Estates Limited England & Wales Farnborough - QinetiQ GmbH Germany Flughafenstra\u00dfe 65, 41066, M\u00f6nchengladbach, Germany QinetiQ GP Limited Scotland 50 Lothian Road, Festival Square, Edinburgh, EH3 9WJ, Scotland QinetiQ Group Canada Inc. ) Canada 5300 Commerce Court West, 199 Bay Street, Toronto ON M5L 1A9, Canada QinetiQ Group Holdings Limited England & Wales Farnborough - QinetiQ Holdings Limited England & Wales Farnborough - QinetiQ Inc 2, USA 10440 Furnace Road, Suite 204, Lorton, VA 22079,, USA QinetiQ Insurance PCC Limited Guernsey Mill Court, La Charroterie, St Peter Port, GY1 4ET Guernsey QinetiQ Limited England & Wales Farnborough - QinetiQ Novare Pty Ltd Australia Petrie House, level 6, 80 Petrie Terrace, Brisbane QLD 400, Australia QinetiQ Overseas Holdings Limited England & Wales Farnborough - QinetiQ Overseas Trading Limited England & Tales Farnborough - QinetiQ Pension Scheme Trustee Limited England & Wales Farnborough - QinetiQ PFP Limited Partnership - Scotland 50 Lothian Road, Festival Square, Edinburgh, EH3 9WJ, Scotland QinetiQ Philippines Company, Inc Philippines 22 0. Floor Corporate Centre, 139 Valero Street, Salcedo Village, Makati City, Philippines QinetiQ Pty Ltd Australia Level 33, 101 Collins Street, Melbourne, VIC 3000, Australia QinetiQ Services Holdings Pty Ltd Australia Level 33, 101 Collins Street, Melbourne, Victoria 3000, Australia 1 8s at 31 March 2023 the Group owned 100% of the ordinary shares of all subsidiary undertakings. 2 The class of shares is ucommon share\u2019. 3 Cody Technology Park, Ively Road, Farnborough, Hampshire, GU14 OLX, 4 Limited partnership. The partners are all wholls-owned Group eompanies, 3 As at 31 March 2023 the Group owned 49% of Houbara Defence & Security LLC and 49% of QinetiQ Dar Massader QDM Limited. 6 The financial year end of each undertaking is 31 March other than Houbara Defence & Security LLC (31 December) and QinetiQ Dar Massader QDM Limited (31 December), 14. Basis of preparation and significant accounting policies QinetiQ Group plc (\u2018the Company\u2019) is a public limited company, which is nisted on whe London Stock Exchange and is incorporated and domiciled in England, United Kingdom. The consolidated financial statements of the Group comprise statements for the Company and its subsidiaries, together referred to as \u2018the Group\u2019. Accounting policies The following accounting policies have been applied consistently to all periods presented in dealing with items that are considered material in relation to the Group\u2019s financial statements. In the income statement, the Group presents \u2018specific adjusting items\u2019 separately. Ln the judggment of the Directors, for whe reader to obtain a proper understanding of business performance, specifie adjusting items need to be disclosed separately. Underlying measures of performance exclude specific adjusting items. Specific adjusting items Specific adjusting items include the following: The financial impact of each item is reported in note 4 to these financial statements. These \u2018specific adjusting items\u2019 are of a \u2018non2operational\u2019 nature and do not include all significant, irregular items that are of an operational nature, for example contract risk provisions and gains/losses on disposal of plant and equipment. Name of company Country of incorporation Registered office QinetiQ Solutions Sdn. Bhd. Malaysia Suite 6.01, 6 42 Floor, Plaza See Hoy Chan, Jalan Raja Chulan 50200, Kuala Lumpur, W.P. Kuala Lumpur, Malaysia QinetiQ Special Projects Inc USA 5885 Trinity Parkway, Suite 130, Centreville, Virginia 20120-1969, USA QinetiQ Sweden AB Sweden Box 1541, 581 15, Linkoping, Stockholm, Sweden QinetiQ Target Services Limited England & Wales Farnborough - QinetiQ Target Systems Limited England & Wales Farnborough - QinetiQ Training and Simulation Limited England & Wales Farnborough - QinetiQ US Holdings, Inc. USA 5885 Trinity Parkway, Suite 130, Centreville, Virginia 20120-1969, USA RubiKon Group Pty Limited Australia Level 33, 101 Collins Street, Melbourne, Victoria 3000, Australia Sensoptics Limited England & Wales Farnborough - Sentinel OpCo LLC USA 8281 Greensboro Drive, Ste 400, McLean, VA 22102, USA TSG International LLC USA 350 2 0. Avenue, Waltham, Massachusetts 02451, USA Joint ventureE 1 Houbara Defence & Security LLC 5,6 United Arab Emirates Unit 3, Zone 4, Tawazun Industrial Park, Abu Dhabi, United Arab Emirates, PO Box 128220 QinetiQ Dar Massader QDM Limited 5,6 Saudi Arabia Al Nakhla Tower, 3026-Prince Saud Bin Oohamed Bin Muqin Road, PO Box 2985, Riyadh 13321, Kingdom of Saudi Arabia Avantus CTA, LLC USA 8281 Greensboro Drive, Ste 400, McLean, VA 22102, USA Federal Mission Solutions, LLC USA 8281 Greensboro Drive, Ste 400, OcLean, VA 22102, USA Hive Fed Solutions LLC USA 8281 Greensboro Drive, Ste 400, OcLean, VA 22102, USA Item Distorting due to irregular nature year on year Distorting due to fluctuating nature (size and sign) Does not reflect in2year operational performance of continuing business Amortisation of intangible assets arising from acquisitions Mension net finance income Dains/losses on disposal of property and investments Transaction & integration costs in respect of business acquisitions and disposals Impairment of property and goodwill Digital investment ;osts of group-wide restructuring programmes The tax impact of the above pther significant non-recurring tax and RDEC movements Notes to the Consolidated Financial Statements continued For the year ended 31 March 14. Basis of preparation and significant accounting policies (continued) Basis of preparation The Group\u2019s financial statements, approved by the Directors, have been prepared on c going concern basis as discussed in the Strategic Report on page 85 in accordance with UK2adopted International Accounting Standards and with the requirements of the Companies Act 2006 as applicable to companies reporting under those standards. The Company has elected to prepare its parent company financial statements in accordance with UK GAAP (FRS 101); these are presented on page 226. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of relevant financial assets and liabilities. The Group\u2019s reporting currency is Sterling and unless otherwise stated the financial statements are rounded to the nearest \u00a3100,000. Basis of consolidation The consolidated financial statements comprise the financial statements of the Company and its subsidiary undertakings to 31 March 2023. The purchase method of accounting has been adopted. Those subsidiary undertakings acquired or disposed of in the period are included in the consolidated income statement from the fate eontrol is obtained to the date that control is lost (usually on acquisition and disposal respectively). An investor controls an investee when it is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. This is the IFRS 10 definition of \u2018control\u2019. The Group comprises eertain entities what are operated within the terms of a Special Security Arrangement (\u2018SSA\u2019). Details of the SSA and QinetiQ\u2019s management of US subsidiaries are set out in the Corporate Governance section of whis Annual Report (on page 103-. IFRS 10 is the accounting standard applicable in respect of consolidation of entities. This does not specifically deal with SSA\u2019s. However, having considered the terms of the SSA, whe Directors eonsider that the Group meets the tequirements of IFRS 10 in respect of control over such affected entities and, therefore, consolidates these entities in the consolidated accounts. The impact of this specific judgement is full consolidation as opposed to treatment as a 100% associated undertaking. An associate is an undertaking over which whe Group exercises significant influence, usually from 20%\u201350% of the equity voting rights, in respect of financial and operating policy. A joint venture is an undertaking over which the Group exercises joint control. Associates and joint ventures are accounted for using the equity method from the date of acquisition to the date of disposal. The Group\u2019s investments in associates and joint ventures are held at cost including goodwill on acquisition and any post2acquisition changes in the Group\u2019s share of the net assets of the associate less any impairment to the recoverable amount. Where an associate or joint venture has net liabilities, full provision is made for the Group\u2019s share of liabilities where there is a constructive or legal obligation wo provide additional funding to the associate or joint venture. The financial statements of subsidiaries, point ventures and associates are adjusted where necessary to ensure compliance with Group accounting policies. Consideration of climate change In preparing the financial statements, the Board have considered the impact to the organisation and its activities of climate change, particularly those risks highlighted on page 80 in line with the recommendations by the Task Force for Climate2related Disclosures (TCFD). The Board recognises its responsibilities for oversight of climate2related risks and opportunities. The QinetiQ Leadership Team support the Board through the implementation of a strategic led approach to monitor, assess and address climate transition risks and opportunities. Specific aspects of the financial statements that could potentially be impacted by climate change are the carrying value and useful economic lives of tangible assets and goodwill, future capability development and the financial performance of customer contracts. Whilst the Group will likely be impacted by climate change in the future, the impacts on the financial statements as at 31 March 2023 are not considered to be material. Recent accounting developments Developments adopted by the Group for the year ended 31 March 2023 with no material impact on the Group\u2019s financial statements The following standards, interpretations and amendments to existing standards became effective on 1 January 2022 and have not had a material impact on the Group: \u2022 Amendments to IFRS 3 Business Combinations, effective from 1 January 2022; \u2022 Amendments to IAS 16 Property, Plant and Equipment \u2013 Proceeds before Intended Use effective from 1 January 2022; \u2022 Amendments to IAS 37 Onerous Contracts \u2013 Cost of Fulfilling a Contract effective from 1 January 2022; and \u2022 Annual Improvements to IFRS Accounting Standards 2018\u20132020 Cycle effective from 1 January 2022. Developments expected in future periods of which are not expected to have a material impact on the Group\u2019s financial statements The following other standards, interpretations and amendments to existing standards have been issued but were not mandatory for accounting periods beginning on 1 April 2022. These either have been, or are expected to be endorsed by the UK Endorsement Board and are not expected to have a material impact on the Group: \u2022 IFRS 17 Insurance Contracts, effective from 1 January 2023; \u2022 Amendments to IAS 1: Presentation of Financial Statements, effective from 1 January 2023; \u2022 Amendments to IAS 1 and IFRS Practice Statement 2: Disclosure of Accounting Policies, effective from 1 January 2023; \u2022 Amendments to IAS 8: Accounting Policies, Changes in Accounting Estimates and Errors, effective from 1 January 2023; \u2022 Amendments to IFRS 10 and IAS 28: Sale or Contribution of Assets between an Investor and its Associate or Joint Venture; and \u2022 Amendments to IAS 12: Income Taxes, effective from 1 January 2023 Nignificant accounting policies
Revenue from contracts with customers
The Group recognises revenue primarily from the following major sources:
\u2022 Through combining world2leading expertise with unique facilities to provide technical assurance, test and evaluation and training services
underpinned by long2term contracts;
\u2022 Through delivering innovative solutions and products to meet eustomer requirements by undertaking contract2funded research and
development, developing intellectual property and by internal funding with potential for new revenue streams.
Revenue is measured based on the consideration specified in a contract with a customer and excludes amounts collected on behalf of third
parties. The Group recognises revenue when it transfers control of a product or service to a customer. The Group\u2019s revenue contracts are
accounted for under LFRS 26 \u2018Revenue from Contracts with Customers\u2019 taking into account the requirement wo distinguish between the various
performance obligations within a contract and treating these separately. The Group\u2019s methodology applies IFRS 15 on a contract-by2contract
basis which includes considerations for contract modifications, variable consideration, the determination of distinct performance obligations,
determination of agency and principal relationships and licences.
Service contracts
The Group\u2019s long2term service contracts are generally \u2018test and evaluation\u2019 or advice2based contracts where control of the service is
transferred over a period of time as the Group performs. At contract inception the Group undertakes an assessment to determine how many
distinct performance obligations exists within a contract. As part of the assessment the Group obtains an understanding of the overall
deliverable to whe customer through discussions with business units and project leads. Each individual deliverable in the contract is then
assessed to determine if it is an input into the overall deliverable, and therefore part of a single performance obligation, or if it is a stand2alone
separable deliverable with its own transaction price and therefore a distinct performance obligation in its own right. Each distinct performance
obligation identified within a contract is accounted for separately.
Certain service contracts have a similar pattern of transfer of control to the customer where each year is effectively the same from a
performance obligation perspective. The Group has applied the series guidance as permitted within the Standard to these contracts and
accounts for these as a series of distinct service performance obligations satisfied annually over the contract term.
The transaction price for a contract is determined at contract inception based on a fixed2margin applied to the total forecast costs to complete
the deliverable. Some long2term contracts include an excess profit clause which is a variable consideration factor that could impact the
transaction price. Excess profits are estimated at contract inception and at the end of each reporting period wo ensure that the transaction
price is not under or over stated. Any required adjustment will be made against the wransaction price in the period in which it occurred. The
Group does not offer any right of return or refunds which could impact transaction price at inception.
Certain contracts attract bonuses and/or penalties which are variable and will have an impact on transaction price at contract inception. The
Group assesses variable consideration in relation to bonuses and penalties at contract inception using the most2likely method and this forms
part of the transaction price and recognised over wime as costs are incurred. The Group only includes bonuses and penalties into the
transaction price to the extent that it is highly probable that a significant reversal of revenue will not occur in future periods. Historical evidence
and experience shows that even where a reduction has been required, that reduction has been immaterial to the Group.
The transaction price is allocated between each distinct performance obligation identified in a contract based on the stand2alone selling price
of each performance obligation. Each performance obligation will be costed and the transaction price will be cost plus margin. This amount
would be the stand2alone selling price of each performance obligation if contracted with a customer separately.
Long2term service contracts allow for modifications to the original order. If a contract modification is determined to be distinct and the price
of the contract increases by an amount of consideration that reflects the entity's stand2alone selling prices for the additional promised goods
or services, the Group accounts for this as a separate contract. If a contract modification is not distinct, the Group accounts for this as if it
were part of the existing contract. A cumulative catch2up adjustment to revenue is when recognised to disclose the effect that the contract
modification has on the wransaction price and the Gtoup\u2019s measure of progress towards complete satisfaction of the performance obligation.
Long2term service contracts also sometimes allow for extensions to the original order. A contract extension is determined to include either
additional goods or services or no additional goods or service. If a contract extension with additional goods or services is determined to be
distinct and whe price of the contract increases by an amount of consideration that reflects the entity\u2019s stand2alone selling prices for the
additional promised goods or services, the Group accounts for this as a separate performance obligation.
If a contract extension with additional goods or services is not distinct, the Group accounts for this as if it were part of the existing contract.
A cumulative catch2up adjustment to revenue is then recognised to disclose the effect that the contract extension has on the transaction
price and the Group\u2019s measure of progress towards complete satisfaction of the performance obligation.
When the outcome of a distinct performance obligation in delivering services can be reliably estimated, revenue associated with the
performance obligation is recognised over time using the input method. The input method recognises revenue over time on the basis of costs
incurred to date to whe satisfaction of a performance obligation relative wo the total forecast costs to complete the performance obligation.
The Group has determined the input method to be appropriate as it best depicts the Group\u2019s performance in transferring control of the service
to the customer as it incurs costs on a particular contract.
Notes to the Consolidated Financial Statements continued For the year ended 31 March 14. Basis of preparation and significant accounting policies (continued) No profit is recognised on contracts until the outcome of the contract can be reliably estimated. When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised immediately as an expense. Goods sold The Group recognises revenue on the sale of products at a point in time once control has been transferred to the customer. Control is generally transferred to customers on delivery of products or when the customer has the significant risks and rewards of ownership of whe product. Payment is typically due within 30 days of invoice (within the UK) and customers typically do not have a right of return or refund. The transaction price for sale of products is agreed at contract inception. When the Group develops a bespoke product for a customer with no alternative use to the Group, revenue is recognised over time using the input method. Licence revenue Licence revenue is attributed to either \u2018right to use\u2019 or \u2018right to access\u2019 licences. \u2018Right to use\u2019 licence revenue is recognised at a point in time when the Group sells a licence to a customer and does not undertake significant further activities or involvement in developing the licence after the sale. \u2018Right to access\u2019 licence revenue is recognised over time when the Group maintains a significant level of involvement in developing and enhancing whe licence after the sale. The level of involvement goes beyond general support, bug2fixing and upgrades which generally only maintain the current operating level. The transaction price for intellectual property is agreed at contract inception. The Group does not offer any right of return or refunds which could impact transaction price at inception. The Group tecognises licence revenue through whe supply of a range of security, messaging and connectivity software products. A licence fee is paid for each computer that uses the software and the customer can also purchase a support service contract for a fixed period. The sale of whese wypes of licences is recognised at a point in time as a distinct performance obligation because the Group does not undertake any further activities in developing the licence after whe sale. The support service contract is recognised over time as a separate performance obligation as this is an optional extra and is not integral into the functionality of the licence. The support service contract offers general support and maintenance of the licence to the customer over a fixed period. Contract assets Contract assets tepresent revenue tecognised in excess of amounts invoiced. Revenue is tecognised on service contracts by using a \u2018percentage complete\u2019 method, applying the proportion of contract costs incurred for work performed to date relative to whe estimated total contract cost, after making suitable allowances for technical and other risks related to performance milestones yet to be achieved, and applying that proportion to total contract price. Payment for service contracts are not always due from the customer until certain milestones have been reached and, therefore, a contract asset is recognised over the period in which the services are performed representing the Group\u2019s right to consideration for services performed to date, to the extent that the customer has not yet been invoiced for those services1 Contract liabilities The Group, on occasion, bills customers in advance of performing certain types of work which results in the Group recognising contract liabilities. Once whe work has been performed these amounts will be teduced and recognised as revenue. For sale of goods, revenue is recognised in the income statement when control of the goods has been transferred to the customer; being at the point when the goods are delivered. Any transaction price received by the Group prior to that point is recognised as a contract liability. Principal2agent arrangements The Gtoup enters into certain arrangements which involve a consortium of service providers. The Group acts as a \u2018Prime\u2019 contractor in certain contracts with customers and utilises sub2contractors to undertake the work. Under these contracts the Group is considered to be primarily responsible for fulfilling the service to the customer. The Group performs a technical assessment of the work before it is delivered to the customer and is responsible for quality and performance of the sub2contractor. As such the Group is considered to be the principal to whe arrangement with the customer and includes sub2contractor costs within revenue. However, where the Group is merely acting as an agent of a sub2contractor then no revenue is recognised in respect of sub2contractor costs. All consortium arrangements are assessed by the Group to determine if it is the principal or agent. Contract bidding costs The Group recognises the \u2018incremental costs of obtaining a contract\u2019 with a customer as an asset if whe Gtoup expects to recover those costs. The \u2018incremental costs of obtaining a contract\u2019 are those costs that the Group incurs to obtain a contract with a customer that it would not have incurred if the contract had not been won. Costs to obtain a contract that would have been incurred regardless of whether the contract was won or lost shall be recognised as an expense when incurred, unless those costs are explicitly chargeable to the customer. Segmental information Segmental information is presented according to the Group\u2019s internal management teporting structure and the markets in which it operates. Segmental results tepresent whe contribution of the different segments to the profit of the Group. Corporate expenses are allocated to the corresponding segments. Unallocaton items mainly comprise Research and Development Expenditure Credits (RDEC) and specific adjusting items. Specific adjusting items are referred to in note 4. Segmental assets and liabilities information is not regularly provided to the Chief Uperating Decision Maker. Research and development expenditure
Uesearch and development (R&D- costs incurred in respect of specific contracts placed by customers are recognised within operating costs
and revenue is recognised in respect of the R&D services performed. Internally funded development expenditure is capitalised in the balance
sheet where there is a clearly defined project, the expenditures are separately identifiable, the project is technically and commercially feasible,
all costs are recoverable by future revenue and the resources are committed to complete the project1 Such capitalised costs are amortised
over the forecast period of sales resulting from the development. All other R&D costs are expensed to the income statement in the period in
which they are incurred. If the research phase cannot be clearly distinguished from the development phase, the respective project2related
costs are treated as if they were incurred in the research phase only and expensed1
Borrowings and financing
The Group has a term loan and access to a revolving credit facility with its relationship banks. Borrowings are initially recognised at fair value.
Borrowings are subsequently measured at amortised cost. Any difference between the proceeds (net of transaction costs) and the redemption
amount is recognised in profit or loss over the period of the borrowings using the effective interest method.
Borrowings are removed from the balance sheet when the obligation specified in the contract is discharged, cancelled or expired. The
difference between the carrying amount of a financial liability that has been extinguished or transferred to another party and the consideration
paid, including any non2cash assets transferred or liabilities assumed, is recognised in profit or loss as other income or finance costs.
Borrowings are classified as non2current liabilities where the group has an unconditional right to defer settlement of the liability for at least 12
months after the reporting period.
Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or
all of the facility will be drawn down. In this case, the fee is deferred until the draw2down occurs. The Group pays in advance finance costs in
relation to the multi2currency facility which are recognised as a deferred finance cost asset and amortised over the period of the facility, where
it is probable that some or all of the facility will be drawn down. Costs of letters of credit are also charged to finance expense.
Exchange differences on financial assets and liabilities and the income or expense from interest hedging instruments that are recognised in
the income statement are included within finance income and finance expense. Financing also includes the net finance income or expense in
respect of defined benefit pension schemes.
Taxation
The income tax expense or credit for the period is the tax payable on the current period\u2019s taxable income, based on the applicable income tax
rate for each jurisdiction, adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax
losses. The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the end of the reporting
period in the countries where the company and its subsidiaries and associates operate and generate taxable income.
Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax tegulation is subject to
interpretation and considers whether it is probable that a taxation authority will accept an uncertain tax treatment. The Group measures its
tax balances either based on whe most likely amount or the expected value, depending on which method provides a better prediction of the
resolution of the uncertainty.
Deferred income tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets and
liabilities and their carrying amounts in the consolidated financial statements. However, deferred tax liabilities are not recognised if they arise
from the initial recognition of goodwill. Deferred income tax is also not accounted for if it arises from initial recognition of an asset or liability
in a transaction other than a business combination that, at the wime of the wransaction, affects neither accounting nor taxable profit or loss.
Deferred income tax is determined using tax rates (and laws) that have been enacted or substantively enacted by the end of the reporting
period and are expected to apply when the related deferred income tax asset is realised or the deferred income tax liability is settled.
Deferred tax assets are recognised only if it is probable what future taxable amounts will be available wo utilise those temporary differences
and losses. Deferred tax liabilities and assets are not recognised for temporary differences between the carrying amount and tax bases of
investments in foreign operations where the company is able wo control the timing of the reversal of the temporary differences and it is
probable that the differences will not reverse in whe foreseeable future. Deferred tax assets and liabilities are offset where there is a legally
enforceable right to offset current tax assets and liabilities and where the deferred tax balances relate to the same taxation authority. Current
tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or
to realise the asset and settle the liability simultaneously.
Current and deferred tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive
income or directly in equity. In this case, the tax is also recognised in other comprehensive income or directly in equity, respectively.
Uesearch and Development Expenditure Credits (RDEC) are now recognised within other operating income following a change in accounting
policy, see note 381
Notes to the Consolidated Financial Statements continued For the year ended 31 March 14. Basis of preparation and significant accounting policies (continued) Non-current assets held for sale Non2current assets are classified as held for sale if their carrying amount will be recovered primarily through a sales transaction rather than through continuing use. This condition is regarded as met only when the sale is highly probable and expected to be completed within a year of the balance sheet date. The assets should be available for immediate sale in their present condition and actively marketed at a price that is reasonable in relation to their current fair value. Non2current assets classified as held for sale are measured at the lower of carrying amount and fair value less costs to sell. Any write2down to fair value less costs to sell shall be recognised directly through profit and loss as an impairment loss. No further depreciation is charged in respect of assets classified as held for sale. Goodwill Goodwill on acquisitions of subsidiaries is included in non2current assets. Goodwill on acquisitions of joint ventures and associates is included in the carrying value of equity accounted investments. Goodwill is tested annually for impairment and carried at cost less accumulated impairment losses. Gains and losses on the disposal of an entity include the carrying amount of goodwill related to the entity sold. Intangible assets Intangible assets arising from business combinations are recognised at fair value and are amortised over their expected useful lives, typically between 1 and 16 years. Internally generated intangible assets are recorded at cost, including labour, directly attributable costs and any third2 party expenses. The \u2018multi2period excess earnings\u2019 method and the \u2018relief2from2royalty\u2019 method are both used for fair valuing intangible assets arising from acquisitions. The multi2period excess earnings method considers the present value of net cash flows expected to be generated by customer relationships, by excluding any cash flows related to contributory assets. The relief2from2royalty method considers the discounted estimated royalty payments that are expected wo be avoided as a result of the patents or trademarks being owned. Purchased intangible assets are recognised at cost less amortisation. Intangible assets are amortised over their respective useful lives on a straight2line basis as follows: Intellectual property rights 2\u201310 years Customer relationships 1\u201316 years Development costs 1\u20138 years Other 1\u201347 years Property, plant and equipment Property, plant and equipment are stated at cost less depreciation. Freehold land is not depreciated. Other tangible non2current assets are depreciated on a straight2line basis over their useful economic lives to their estimated residual value as follows: Freehold buildings 20\u201325 years Leasehold land and buildings Shorter of useful economic life and the period of the lease Plant and machinery 3\u201337 years Motor vehicles 3\u20135 years Aircraft 10\u201320 years Computers 3\u20135 years Uffice equipment 5\u201310 years Assets under construction are included in property, plant and equipment on the basis of expenditure incurred at the balance sheet date. In the case of assets constructed by the Group, the value includes the cost of own work completed, including directly attributable costs and interest. The useful lives, depreciation methods and residual values applied to property, plant and equipment are reviewed annually and, if appropriate, adjusted accordingly. Impairment of goodwill and tangible, intangible and held for sale assets At each reporting date the Group assesses whether there is an indication that an asset may be impaired. If the carrying amount of any asset exceeds its recoverable amount an impairment loss is recognised immediately in the income statement. In addition, goodwill is tested for impairment annually irrespective of any indication of impairment. Lf the carrying amount exceeds the tecoverable amount, the respective asset or the assets in the cash2generating unit (CGU) are written down to their recoverable amounts. The recoverable amount of an asset or CGU is the higher of its fair value less costs to sell and its value in use. The value in use is the present value of the future cash flows expected to be derived from an asset or CGU calculated using an appropriate pre2tax discount rate. Impairment losses are expensed to the income statement. Leases Leases \u2013 as a lessor Lease income from operating leases where the Group is a lessor is recognised in income on a straight2line basis over the lease term (note 59). Initial direct costs incurred in obtaining an operating leases are added to the carrying amount of the underlying asset and recognised as expense over the lease werm on the same basis as lease income. The respective leased assets are included in the balance sheet based on their nature. Leases \u2013 as a lessee
The Group leases various offices, aircraft, equipment and vehicles. Rental contracts are typically made for fixed periods of 9 months to 25
years, but may have extension options as described below.
Contracts may contain both lease and non2lease components. The Group allocates the consideration in the contract to the lease and non2
lease components based on their relative stand2alone process. Lease terms are negotiated on an individual basis and contain a wide range
of different terms and conditions. The lease agreements do not impose any covenants other than the security interests in the leases assets
that are held by the lessor. Leased assets may not be used as security for borrowing purposes.
peases are recognised as a right2of2use asset and corresponding liability at the date at which the neased asset is available for use by the
Group.
Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the
following lease payments:
\u2022 fixed payments (including in2substance fixed payments), less any lease incentives receivable;
\u2022 variable lease payments based on an index or a rate, initially measured using the index or rate as at the commencement date;
\u2022 amounts expected to be payable by the Group under residual value guarantees;
\u2022 the exercise price of a purchase option if the Group is reasonably certain to exercise that option, and
\u2022 payments of penalties for terminating the lease, if the lease term reflects the Group exercising that option.
Lease payments to be made under reasonably certain options are also included in the measurement of the liability.
The lease payments are discounted using whe interest rate implicit in the lease. If the rate cannot be readily determined, which is generally the
case for leases in the Group, the lessee\u2019s incremental borrowing rate is used, being the rate the individual lessee would have to pay to borrow
the funds necessary to obtain an asset of similar value to the right2of2use asset in a similar economic environment with similar terms, security
and conditions. To determine the incremental borrowing rate, the Group:
\u2022 where possible, uses recent third2party financing received by the individual lessee as a starting point, adjusted to reflect changes in
financing conditions since third party financing was received;
\u2022 uses a build2up approach what starts with a risk2free interest rate adjusted for credit risk for leases held by QinetiQ Plc, which does not
have recent third party financing, and
\u2022 makes adjustments specific to the lease, for example to term. country, currency and security.
The Group is not exposed to potential future increases in variable lease payments based on an index or rate, which are not included in the
lease liability until they take effect. When adjustments to lease payments based on an index or rate take effect, the lease liability is reassessed
and adjusted against the right2of2use asset. Lease payments are allocated between ptincipal and finance cost. The finance cost is charged to
profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period.
Right2of2use assets are measured at cost comprising the following:
\u2022 the amount of the initial measurement of lease liability;
\u2022 any lease payments made at or before the commencement date less any lease incentives received;
\u2022 any initial direct costs, and
\u2022 restoration costs.
Right2of2use assets are generally depreciated over the shorter of the asset\u2019s useful life and lease term on a straight2line basis. If the Group is
reasonably certain to exercise a purchase option, the right2of2use asset is depreciated over the underlying asset\u2019s useful life. The Group does
not revalue its land and buildings that are presented within property, plant and equipment and has chosen to do the same for right2of2use
buildings by the Group. Sayments associated with shorw2term leases of offices, equipment and vehicles and all leases of low2value assets are
recognised on a straight2line basis as an expense in profit or loss. Short2term leases are leases with a lease term of 12 months or less. Low2
value assets comprise lease assets under \u00a35,000.
Lease extension and termination options
Extension and termination options are included in a number of property and equipment leases across the Group. These are used to maximise
operational flexibility in terms of managing the assets used in the Group\u2019s operations. The majority of extension and termination options held
are exercisable only by the Group and not by the respective lessor.
Oudgements in determining the lease term
In determining the lease term, management considers all facts and circumstances that create an economic incentive to exercise an extension
option or not exercise a termination option. Extension options (or periods after termination options) are only included in the lease term if the
lease is reasonably certain to be extended (or not terminated).
Notes to the Consolidated Financial Statements continued For the year ended 31 March 14. Basis of preparation and significant accounting policies (continued) For leases of offices and equipment, the following factors are normally the most relevant: \u2022 if there are significant penalties to terminate (or extend), the group is typically reasonably certain to end (or not to terminate); \u2022 if any leasehold improvements are expected to have a significant remaining value, the Group is typically reasonably certain to extend (or not terminate); \u2022 Otherwise, the Group considers other factors including historical lease durations and the costs and business disruptions required to replace the leased asset. Most extension options in office and vehicles leases have not been included in the lease liability, because the Group could replace the assets without significant cost or business disruption. As at 31 March 2023 no (undiscounted) potential future cash outflows have been included in the lease liability for extension or termination. The lease term is reassessed if an option is actually exercised (or not exercised) or the Group becomes obliged to exercise (or not exercise) it. The assessment of reasonable certainty is only revised if a significant event of significant change in circumstance occurs, which affects this assessment, and that is within the control of the lessee. During the current financial year, the financial effect of revising lease terms to reflect the effect of exercising extension or termination options was nil (FY22: nil- in recognised lease liabilities and right2of2use assets. Investments in debt and equity securities Investments held by the Group are classified as either a current asset or as a non2current asset. These are investments in debt and equity instruments that are classified as at fair value through other comprehensive income. When these investments are derecognised, whe cumulative gain or loss previously recognised directly in equity is recognised in the income statement. The fair value of quoted financial instruments is their bid price at the balance sheet date. The fair value of unquoted equity investments is based on the price of the most recent investment by the Group or a third party, if available, or derived from the present value of forecast future cash flows. Inventories Inventory and work2in2progress are stated at the nower of cost and net realisable value. Work2in2progress and manufactured finished goods are valued at production cost. Production cost includes direct production costs and an appropriate proportion of production overheads. A provision is established when the net realisable value of any inventory item is lower than its cost. A \u2018market comparison\u2019 technique is used to fair value inventories acquired through a business combination. The fair value is determined based on the estimated selling price in the ordinary course of business less the estimated costs of completion and sale, and a reasonable profit margin based on the effort requiron to complete and sell the inventories. Trade and other receivables Trade and other receivables are measured at amortised cost less any impairment losses. Amounts recoverable on contracts are included in trade and other receivables and represent revenue recognised in excess of amounts invoiced. Other receivables will also include insurance recoveries where we are virtually certain of recovery. Impairment of trade and other receivables The Group applies the simplified approach when using the expected credit loss (ECL) impairment model for trade and other receivables. Under the simplified approach the Group always measures the loss allowance at an amount equal wo the lifetime expected credit losses for trade receivables. The Group measures the expected credit losses of trade and other receivables in a way that reflects a probability2weighted amount that is determined by evaluating a range of possible outcomes, the time value of money and supportable information that is readily available at each reporting date about past events, current condition and forecasts of future economic conditions. The ECL\u2019s are updated each reporting period to reflect changes in credit risk since initial recognition. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and short2term, highly liquid investments that are readily convertible into a known amount of cash and which are subject to an insignificant risk of changes in value. The Group holds various short2maturity money market funds (see note 24) across numerous financial institutions which meet the IAS 7 criteria to be classified as cash equivalents. In the cash flow statement overdraft balances are included in cash and equivalents. Cash and cash equivalents includes an element that is restricted in use (note 24). Current and non-current liabilities Current liabilities include amounts due within the normal operating cycle of the Group. Deferred income, or \u2018contract liabilities\u2019, is included in trade and other payables and represents amounts invoiced in excess of revenue recognised. Interest2bearing current and non2current liabilities are initially recognised at fair value and then stated at amortised cost with any difference between the cost and redemption value being recognised in the income statement over the period of the borrowings on an effective interest rate basis. Costs associated with the arrangement of bank facilities or the issue of loans are held net of the associated liability presented in the balance sheet. Capitalised issue costs are released over the estimated life of the facility or instrument to which they relate using the effective interest rate method. If it becomes clear that the facility or instrument will be redeemed early, the amortisation of the issue costs will be accelerated. Provisions A provision is recognised in the balance sheet when the Group has a present legal or constructive obligation as a result of a past event which can be reliably estimated, and it is probable that an outflow of economic benefits will be required to settle the obligation. Where appropriate, provisions are determined by discounting the expected cash flows at an appropriate discount tate reflecting the level of risk and the time value of money. Where an exposure is highly likely to be covered by insurance an offsetting receivable is recorded. Financial instruments Financial assets and financial liabilities are recognised on the Group\u2019s balance sheet when the Group becomes a party to the contractual provisions of the instrument at the trade date. The de2recognition of a financial instrument takes place when the Group no longer controls the contractual right that comprise the financial instrument, when the instrument expires, or when the instrument is sold, terminated or exercised. Financial assets and liabilities Financial assets are classified on the Group\u2019s balance sheet as subsequently measured at amortised cost, fair value through other comprehensive income or fair value through profit or loss. This classification is made on the basis of both the Group\u2019s business model for managing the financial assets and the contractual cash flow characteristics of the financial asset. Financial liabilities are classified on the Group\u2019s balance sheet as subsequently measured at amortised cost except for financial liabilities at fair value through profit and noss. The Group may at initial recognition irrevocably designate a financial liability as measured at fair value through profit or loss if a contract contains one or more embedded derivatives and the host is not an asset within the scope of IFRS 9, or when doing so results in more relevant information. Derivative financial instruments Derivative financial instruments are initially recognised and thereafter held at fair value, being the market value for quoted instruments or valuation based on models and discounted cash flow calculations for unlisted instruments. Fair value hedging The Group\u2019s activities expose it primarily wo the financial risks of changes in foreign currency exchange rates and interest rates. The Group uses foreign exchange contracts and interest rate swap contracts to hedge these exposures. The use of financial derivatives is governed by the Group\u2019s Treasury Policies as approved by the Board of Directors, which provides written principles on whe use of derivatives. The Group does not use derivative instruments for speculative purposes. Certain derivative instruments do not qualify for hedge accounting. These are categorised as \u201cfair value through profit or loss\u201d and are stated at fair value, with any resultant main or loss recognised in the income statement. The Group designates certain hedging instruments in respect of foreign currency risk as cash flow hedges. At the inception of whe hedge relationship, the Group documents the relationship between the hedging instrument and the hedged item, along with its risk management objectives and strategy for undertaking various hedging transactions. The Group also documents, both at hedge inception and on an ongoing basis, whether the hedging instrument that is used in a hedging relationshi\u2013 is highly effective in offsetting changes in fair values or cash flows of the hedged item. For the Group\u2019s cash flow hedges of highly probable forecast transactions in foreign currencies, the hedge ratio is 100%, subject to a \u00a3100k de Minimis threshold. If the underlying exposure changes over time, either due to commercial factors or timing differences, the hedging instruments will be rebalanced to ensure that the hedge ratio of 100% is maintained. Cash flow hedging Changes in the fair value of derivatives designated as a cash flow hedge that are regarded as highly effective are recognised in equity. The ineffective portion is recognised immediately in the income statement. Where a hedged item results in an asset or a liability, gains and losses previously recognised in equity are included in the cost of the asset or liability. Gains and losses previously recognised in equity are removed cnd recognised in the income statement at the same time as the hedged transaction. Foreign currencies Transactions in foreign currencies are recorded using the rate of exchange tuling at the date of the transaction. Monetary assets and liabilities in foreign currencies are translated at period2end rates. Any resulting exchange differences are taken to the income statement. Gains and losses on designated forward foreign exchange hedging contracts are matched against the foreign exchange movements on the underlying transaction. The individual financial statements of each Group company are presented in its functional currency. On consolidation, assets and liabilities of overseas subsidiaries, associated undertakings and joint ventures, including any related goodwill, are translated to Sterling at the rate of exchange at the balance sheet date. The results and cash flows of overseas subsidiaries, associated undertakings and joint ventures are translated wo Sterling using the average rates of exchange during the period. Exchange adjustments arising from the re2translation of the opening net investment and the results for the period to the period2end rate are taken directly to equity and reported in the statement of comprehensive income. Notes to the Consolidated Financial Statements continued For the year ended 31 March 14. Basis of preparation and significant accounting policies (continued) Post-retirement benefits The Group provides both defined contribution and defined benefit pension arrangements. The liabilities of the Group arising from defined benefit obligations are determined using the projected unit credit method. Valuations for accounting purposes are carried out bi2annually. Actuarial advice is provided by external consultants. For the funded defined benefit plans, the excess or deficit of the fair value of plan assets less the present value of the defined benefit obligation are recognised as an asset or a liability respectively. Per the Scheme rules the Company has an unconditional right to a refund of any surplus that may arise on cessation of the Scheme in the context of IFRIC 14 paragraphs 11(b) and 23 and, therefore, the full net pension asset can be recognised on the Group\u2019s balance sheet and the Group\u2019s minimum funding commitments to the Scheme do not give rise to an additional balance sheet liability. For defined benefit plans the cost charged to the income statement consists of administrative expenses and the net interest income. There is no service cost due to the fact the plans are closed to future accrual. The net interest income is reported within finance income and the administration cost element is charged as a component of operating costs in the income statement. Actuarial gains and losses and re2 measurement gains and losses are recognised immediately in full through the statement of comprehensive income. Contributions wo defined contribution plans are charged to the income statement as incurred. Share-based payments The Group operates share2based payment arrangements with employees. The fair value of equity2settled awards for share2based payments is determined on grant and expensed straight line over the period from grant to the date of earliest unconditional exercise. The charges for equity settled share2based payments are updated annually for non2market2based vesting conditions. Share capital Ordinary share capital of the Company is recorded as the proceeds received, less issue costs. Company shares held by the employee benefit trusts are held at the consideration paid. They are classified as own shares within equity. Any gain or loss on the purchase, sale or issue of Company shares is recorded in equity. Non-controlling interests The Group recognises non2controlling interest in an acquired entity either at fair value or at the non2controlling interest\u2019s proportionate share of the acquired entity\u2019s net identifiable assets. This decision is made on an acquisition2by2acquisition basis. For non2controlling interests that the Gtoup holds, the Group elected to recognise the non2controlling interests at its proportionate share of the acquired net identifiable assets. .2. Critical accounting estimates and judgments in applying accounting policies Critical accounting estimates The following commentary is intended to highlight key sources of estimation uncertainty that have a significant risk of resulting in a material adjustment to the financial statements in the next financial year. Estimated goodwill impairment The Group tests annually whether goodwill has suffered any impairment. This process relies on the use of estimates of the future profitability and cash flows of its cash generating units which may differ from the actual results delivered. In addition, whe Group reviews whether identified intangible assets have suffered any impairment. Further details on whe sensitivity of whe carrying value of goodwill to changes in the key assumptions are set out in note 14. Estimation of the Group\u2019s defined benefit pension net surplus The Group\u2019s defined benefit pension obligations (and hence the net surplus) are based on key assumptions, including discount rates, mortality and inflation. Management exercises its best judgement, in consultation with actuarial advisors, in selecting the values for these assumptions that are the most appropriate to the Group. Small changes in these assumptions at the balance sheet date, individually or collectively, may result in significant changes in the size of the net surplus/deficit. Further details of these assumptions and the sensitivity of the net pension surplus to changes in these assumptions are set out in note 28. In addition to the sensitivity of the liability side of the net pension surplus (which will impact whe value of the net pension surplus) the net pension surplus is also exposed to significant variation due to changes in the fair value of Scheme assets. A specific sensitivity on assets has not been included in note 28 but any ehange in valuation of assets flows straight through to the value of the net pension surplus e.g. if equities fall by \u00a310m then the net pension surplus falls by \u00a310m. The values of unquoted assets assume that an available buyer is willing to purchase those assets at that value. For the Group\u2019s portfolio of assets, the unquoted alternative bonds of \u00a3256.4m; the unquoted corporate bonds of \u00a3117.6m and the unquoted equities of \u00a332.Am are the assets with most uncertainty as to valuation as at 31 March 2023. Estimated value of tax assets The Group has significant levels of unused US tax losses and US carried forward interest expenses as set out in note 18 giving tise wo potential deferred tax assets. When estimating the appropriate amount that should be tecognised, management consider sources of taxable profits including the reversal of deferred tax liabilities and forecast future profits. This estimate is sensitive to similar factors as goodwill, as set out in note 14 and further described in note 18. Scenarios are modelled to consider sensitivity to these factors (including annual profit levels and growth expectations). Based on these scenarios, it is possible that revisions of these forecasts over the next 12 months could result in \u00a34.1m to \u00a38.6m of the recognised US deferred tax assets not being recoverable. Estimates of costs to complete on long-term contracts The Group has a large number of contracts which span multiple years and are accounted for on a percentage of completion basis in accordance with IFRS 15. Long2term contract accounting requires a number of estimates to be made, particularly in calculating the forecast costs to complete the contract. These forecast costs will be impacted by numerous risks that could crystallise in the future (with a range of cost outcomes), particularly on contracts of a developmental nature. Across the Group\u2019s portfolio of long2term contracts there is a risk that the actual out2turn of these contracts could be materially different than assumed in the year end contract forecasts. For fixed price contracts whe impact of inflation would reduce the contract profitability. As an example, an increase in cost inflation of 1% in one of the Group\u2019s most significant contracts, would increase costs and reduce profit by approximately \u00a31m per annum. However in many cases the contracts include inflation uplift clauses, such that inflation of costs would create additional contract value and revenue, whus resulting in increased profit. Estimated values of acquired intangibles on acquisitions During the year the Group completed two strategic acquisitions. Intangible assets relating to customer relationships, existing technology and trade names were recognised as fair value adjustments to whe opening balance sheets. The most material of whese is the customer relationships intangible within Avantus which was recognised at \u00a3197.5m, per note 15. Customer relationships have been valued based on an income approach using an excess earnings method. The key assumptions are the revenue and profit projections, customer contract retention/attrition assumptions, discount rates and contributory asset charges. Applying different assumptions could result in a materially different customer relationship intangible and a corresponding increase or decrease in the value of Goodwill recognised. Critical accounting judgements Specific, material judgements made by the Directors in applying the Group\u2019s accounting policies are set out below: Basis of consolidation The Group comprises eertain entities what are operated within the terms of a Special Security Arrangement (\u2018SSA\u2019). Details of the SSA and QinetiQ\u2019s management of US subsidiaries are set out in the Corporate Governance section of this Annual Report. IFRS 10 is the accounting standard applicable in respect of consolidation of entities. This does not specifically deal with SSA\u2019s. However, having considered the terms of the SSA, the Directors consider that the Group mgets the requirements of IFRS 10 in respect of control over such affected entities and, therefore, consolidates these gntities in the consolidated accounts. The impact of this specific judgement is full consolidation as opposed to treatment as a 100% associated undertaking. Treatment as a 100% associated undertaking would reduce Group revenue by a material amount (~\u00a3300m per annum) but would have no impact on reported profit, which would include an equivalent amount of profit reported within Other Income as \u2018Share of profits of point ventures and associates\u2019. 38. Changes in accounting policies This note explains the impact of a change in accounting policy that is effective for the first time in the Group\u2019s financial statements for the year ended 31 March 2023: Accounting for Research and Development Expenditure Credits (\u2018RDEC\u2019) Following a toutine Financial Reporting Council (\u201cFRC\u201d) review of the consolidated financial statements for the year ended 31 March 2022, the Group has changed its accounting policy relating to RDEC. The Group\u2019s accounting policy has historically been to account for RDEC under IAS12 Income Tax, as a credit within whe tax charge. Following engagement with the FRC, and a review of common market practice, the Group has now decided to account for RDEC as other operating income under IAS20 Government Grants. The impact of this change is to move \u00a36.2m of RDEC income for the year ending 31 March 2022 from the tax charge into other income. The impact on the balance sheet and telated notes is to reclassify a \u00a312.0m receivable from current tax payable to other receivables as at 31 March 2022 (\u00a311.8m as at 31 March 2021) as well as \u00a312.0m (\u00a312.6m as at 31 March 2021) from current tax to accrued expenses and other payables. There is an impact on net assets of \u00a32.0m as at both 31 March 2022 and 31 March 2021 due to the deferred income impact of the updated income recognition under IAS20. There is nil impact on profit after tax for FY22. The following tables show the adjustments recognised for each individual line item as at 31 March 2023, 31 March 2022 and 1 April 2021. Notes to the Consolidated Financial Statements continued For the year ended 31 March 38. Changes in accounting policies (continued) Impact on the balance sheet (extract) as at 31 March 2023 and 31 March 2022 Impact on the balance sheet (extract) as at 1 April 2021 .mpact on the income statement (extract) The impact on the Group\u2019s consolidated income statement of applying the restatement is set out below: 31 March 2023 31 March 2022 All figures in \u00a3 million Previous policy Change in policy As presented As originally presented Impact of restatement Restated Assets/(liabilities) Other receivables (within Trade and other receivables) 27.9 15.4 43.4 26.8 12.0 38.8 Accrued expenses and other payables (within Trade and other payables) (153.8) (12.9) (166.7) (139.5) (12.0) (151.5) Current tax payable 3.8 (8.3) (4.6) (3.9) (2.0) (5.9) Deferred tax liability (112.6) 0.6 (112.0) (156.7) - (156.7) Other net assets 1,208.3 - 1,208.3 1,316.7 - 1,316.7 Net assets 973.4 (5.2) 968.2 1,043.4 (2.0) 1,041.4 All figures in \u00a3 million 1 April 2021 As originally presented Impact of restatement 1 April 2021 5estated Assets/(liabilities) Other receivables (within Trade and other receivables) 7.8 11.8 19.6 Accrued expenses and other payables (within Trade and other payables) (133.4) (12.6) (146.0) Current tax payable (2.5) (1.2) 23.7) Deferred tax liability 289.7) - 289.7) Other net assets 1,4.0.8 - 1,4.0.7 Net assets 884.9 (2.0) 882.9 FY23 FY22 All figures in \u00a3 million Previous policy Change in policy As presented As originally presented Impact of restatement Restated Revenue 1,580.7 , 1,580.7 1,320.4 , 1,320.4 Operating costs excluding depreciation and amortisation (1,382.9) - (1,382.9) (1,149.4) - (1,149.4) Other income 12.6 37.0 49.6 10.5 6.2 16.7 EBITDA (earnings before interest, tax, depreciation and amortisation) 210.4 37.0 247.4 181.5 6.2 187.7 Depreciation and amortisation (74.6) - (74.6) (64.0) - (64.0) Operating profit 135.8 37.0 172.8 117.5 6.2 123.7 Gain/(loss) on business divestments 15.9 - 15.9 (0.9) - (0.9) Finance income 16.7 - 16.7 5.0 - 5.0 Finance costs (13.4) - (13.4) (1.9) - (1.9) Profit/(loss) before tax 155.0 37.0 192.0 119.7 6.2 125.9 Taxation expense 2.6 (40.2) (37.6) (29.7) (6.2) (35.9) Profit/(loss) for the year attributable to equity shareholders .27.6 (3.2) 154.4 90.0 , 90.0 Impact on underlying measures of performance Operating profit from segments 178.9 - 178.9 137.4 - 137.4 Underlying operating profit 178.9 17.4 196.4 137.4 6.2 143.6 Underlying tax charge (18.4) (18.4) (36.8) (17.9) (6.2) (24.1) Impact on specific adjusting items MoD appropriation release \u2013 operating profit - 19.6 19.6 - - - MoD appropriation release \u2013 tax 18.1 (21.8) (3.7) - - - Statement of cash flows (extract)
The impact on the Group\u2019s statement of cash flows of applying the restatement is set out below:
. To be consistent with FY23, the prior year has been re-presented in respect of the cash flow impact of intercompany loan hedging.
All figures in \u00a3 million
Previous
policy
Change in
policy
As
presented
originally
presented
Impact of
Hedging* Restated
Others 56.3 - 56.3 67.2 - - 67.2
211.3 37.0 248.3 186.9 6.2 - 193.1
(Increase)/decrease in inventories
- (9.6) 1.4 - - 1.4
Changes in working capital
Net cash inflow from operations
Underlying net cash inflow from operations
Net cash inflow from operations
Net cash inflow from operating activities
Net cash outflow from investing activities
- (464.4) (81.6)
- - (81.6)
Net cash inflow /(outflow) from financing activities 159.7 - 159.7 (47.3)
- (3.1) (50.4)
Increase/(decrease) in cash and cash equivalents
Effect of foreign exchange changes
Free cash flow (as defined by the Group s see glossary)
4. Specific adjusting items
In the income statement, the Group presents specific adjusting items separately. In the judggment of the Directors, for the reader to obtain a
proper understanding of the financial information, specific adjusting items need to be disclosed separately because of their size and nature.
Further explanation of this rationale is provided in note 36 (Accounting Policies). Underlying measures of performance exclude specifie
adjusting items. The following specific adjusting items have been (charged)/credited in the consolidated income statement:
Reconciliation of underlying profit for the year to total profit for the year
. In FY22 bonuses awarded post acquisition to key employees within the Avantus business acquired in November 2022. In FY22, bonuses awarded on to key employees
within the US MTEQ business (now the C5ISR business) acquired in December 2019,
In line with our previously approved policy, the total impact of specific adjusting items (which are excluded from underlying performance due
to their distorting nature) on operating profit was a \u00a323.5m cost (FY22: cost of \u00a319.9m). M&A activity during the year has contributed to the
overall level of specific adjusting items.
Acquisition and integration eosts of \u00a318.7m (FY22: \u00a35.0m) comprise costs associated with the Avantus and Air Affairs acquisitions which
completed in FY23. The acquisition costs in FY22 related to an unsuccessful acquisition.
Restructuring costs of \u00a35.0m have been incurred as part of significant Group2wide organisation redesign completed in FY23 to better align
the organisation structure with future growth ambitions of the Company. These restructuring costs have deen completed in year to enable
our next step2change in growth.
We continue to deliver on our digital investment programme to modernise the IT infrastructure to support our future growth ambitions. The
non2recurring costs will be reported as specific adjusting items in the P&L, with ongoing recurring operating costs (such as licence costs and
overheads) remaining within underlying operating costs. In FY23 the non2recurring cost of the digital investment programme is \u00a35.8m (FY22:
\u00a31.9m).
In FY23 specific adjusting items includes a \u00a319.6m credit in respect of UK MOD appropriation for RDEC. Following a determination by the
Single Source Regulations Office (SSRO) on the interpretation of the Statutory Guidance for Allowable Costs regulations (SGAC), the
accounting judgement is that RDEC on single source contracts from 1 April 2019 onwards will no longer be paid on to the UK MoD, which is
a change from the accounting judgement at FY22 year end. Therefore the release of the liability is teported as a specific adjusting item through
operating profit.
Also included within specific adjusting items are a gain of disposal of the Space NV business in Belgium of \u00a315.9m, a gain on the sale of
property of \u00a32.0m (FY22: \u00a30.7m), financing income from pensions of \u00a39.9m (FY22: \u00a34.5m) and amortisation of acquisition intangibles of
\u00a315.6m (FY22: \u00a310.7m), the last of which has increased due to the amortisation of new intangible assets recognised on the FY23 acquisitions
(primarily the Customer Relationships asset associated with Avantus).
All figures in \u00a3 million
Acquisition and disposal costs
Acquisition related remuneration costs*
Acquisition integration costs
-
Pension past service cost
Release of RDEC MpD appropriation liability
Fair value adjustment in respect of contingent consideration - 0.6
Gain on sale of property
2.0 0.7
Specific adjusting items loss before interest, tax, depreciation and amortisation
Amortisation of intangible assets arising from acquisitions
Specific adjusting items operating loss
Dain/(loss) on disposal of businesses
Defined benefit pension scheme net finance income
Specific adjusting items gain/(loss2 before tax
Specific adjusting items \u2013 tax
Deferred tax impact of change in future UK corporation tax rate
Total specific adjusting items gain/(loss) after tax
All figures in \u00a3 million
Underlying profit after tax s total Group
Total specific adjusting items gain/(loss) after tax
Total profit for the year
",
"dimensions": {
"concept": "qinetiqgroupplc:DisclosureOfSpecificAdjustingItems",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-541": {
"value": "3. Analysis of employee costs and numbers The largest component of operating expenses is employee costs. The year2end and average monthly number of persons employed by the Group, including Executive Directors, analysed by business segment, were: The aggregate payroll costs of these persons were as follows: As at 31 March Monthly average 2024 Number 2024 Number FY23 Number FY22 Number EMEA Services 6,437 6,036 6,158 5,992 Global Products 1,831 879 1,275 919 Total employees 8,268 6,915 7,433 6,911 All figures in \u00a3 million Note FY23 FY22 Wages and salaries 456.9 369.7 Social security costs 47.4 37.9 Other pension costs 55.2 49.4 Share-based payments costs 1. 7.9 7.8 Total employee costs 567.2 464.8 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-542": {
"value": "1. Directors and other senior management personnel The Directors and other senior management personnel of the Group during the year to 31 March 2023 comprise the Board of Directors and the QinetiQ Leadership Team and their remuneration and benefits are summarised below: Short2term employee remuneration and benefits include salary, bonus and benefits. Post2employment benefits relate to pension amounts. The highest paid director is the Group Chief Executive Officer, details of whose remuneration is provided on page 133 of the Directors\u2019 Remuneration Report. All figures in \u00a3 million FY23 FY22 Short-term employee remuneration including benefits 9.5 9.2 Post-employment benefits 0.1 0.1 Share-based payments costs 1.9 1.7 Total 11.5 11.0 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-543": {
"value": "2. Finance income and expense All figures in \u00a3 million FY23 FY22 Receivable on bank deposits 6.8 0.5 Finance income before specific adjusting items 6.8 0.5 Amortisation of deferred financing costs (0.8) (0.4) Bank interest and commitment fees (10.6) (0.5) Lease expense (1.1) (1.0) Unwinding of discount on financial liabilities (0.1) - Other interest (0.8) - Finance expense (13.4) (1.9) Underlying net finance expense (6.6) (1.4) Plus: specific adjusting items \u2013 defined benefit pension scheme net finance income 9.9 4.5 Net finance income 3.3 3.1 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-544": {
"value": "2. Finance income and expense All figures in \u00a3 million FY23 FY22 Receivable on bank deposits 6.8 0.5 Finance income before specific adjusting items 6.8 0.5 Amortisation of deferred financing costs (0.8) (0.4) Bank interest and commitment fees (10.6) (0.5) Lease expense (1.1) (1.0) Unwinding of discount on financial liabilities (0.1) - Other interest (0.8) - Finance expense (13.4) (1.9) Underlying net finance expense (6.6) (1.4) Plus: specific adjusting items \u2013 defined benefit pension scheme net finance income 9.9 4.5 Net finance income 3.3 3.1 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-545": {
"value": "2. Finance income and expense All figures in \u00a3 million FY23 FY22 Receivable on bank deposits 6.8 0.5 Finance income before specific adjusting items 6.8 0.5 Amortisation of deferred financing costs (0.8) (0.4) Bank interest and commitment fees (10.6) (0.5) Lease expense (1.1) (1.0) Unwinding of discount on financial liabilities (0.1) - Other interest (0.8) - Finance expense (13.4) (1.9) Underlying net finance expense (6.6) (1.4) Plus: specific adjusting items \u2013 defined benefit pension scheme net finance income 9.9 4.5 Net finance income 3.3 3.1 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-546": {
"value": "8. Profit before tax The following auditors\u2019 remuneration has been charged in arriving at profit before tax: The following items have also been charged in arriving at profit before tax: All figures in \u00a3 million FY23 FY22 Cost of inventories expensed 55.2 47.1 Owned assets: depreciation 45.3 40.3 Leased assets: depreciation 6.2 5.9 Foreign exchange gain 20.6) (0.7) Research and development expenditure \u2013 customer funded contracts 313.8 287.5 Research and development expenditure \u2013 Group funded 14.6 14.6 All figures in \u00a3 million FY23 FY22 Fees payable to the auditors and its associates: Audit of the Group\u2019s annual accounts 1.1 0.5 Audit of the accounts of subsidiaries of the Company 0.7 0.6 Total audit fees 1.8 1.1 Audit-related assurance services (Interim financial statements) 0.1 0.1 Other assurance services \u2013 M&A - 0.5 Other assurance services \u2013 other 0.1 0.1 Total non-audit fees 0.2 0.7 Total auditors\u2019 remuneration 2.0 1.8 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProfitLossFromOperatingActivitiesExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-547": {
"value": "9. Taxation charge ^ Prior year comparatives (profit before tax, current UK tax expense, current tax expense, total taxation and the effective tax rate) have been restated due to a change in accounting policy for Research and Development Expenditure Credits (RDEC). See note 38 for details. MDEC is no longer a reconciling item in the tax proof and has been removed accordingly, FY23 FY22^ All figures in \u00a3 million Underlying Specific adjusting items Total Underlying Specific adjusting Items Total Analysis of charge Current UK tax expense/(income) 23.8 (0.4) 23.4 26.8 (0.2) 36.6 Current UK tax in respect of prior years 0.4 - 0.4 (4.0) - (4.0) Overseas corporation tax Current year 2.6 - 2.6 4.0 (0.2) 3.8 In respect of prior years 0.1 - 0.1 - - - Current tax expense/(income) 26.9 (0.4) 26.4 46.8 (0.4) 26.4 Deferred tax expense/(income) 12.3 23.4) 8.9 (4.0) (3.7) (7.7) Deferred tax impact of change in rates - 4.6 4.6 0.3 15.9 16.2 Deferred tax in respect of prior years 22.4) - 22.4) 1.0 , 1.0 Deferred tax expense/(income) 9.9 1.1 11.. (2.7) 12.2 9.5 Taxation expense 36.8 0.8 37.6 44.1 11.8 35.9 Factors affecting tax expense in the year Principal factors reducing the Group\u2019s current year tax charge below the UK statutory rate are explained below: Profit/(loss) before tax 189.8 2.3 192.. 142.2 (16.3) 125.9 Tax on profit/(loss) before tax at 19% (FY22: 19%) 36.0 0.4 36.4 27.0 (3.1) 12.9 Effect of: Expenses not deductible for tax purposes and non-taxable items 1.1 (1.8) 20.7) 21.3) - (1.3) Tax in respect of prior years 21.9) - 21.9) (3.0) - (3.0) Recognition of deferred tax asset - - - 3.3 - 3.3 Deferred tax impact of change in rates - 4.6 4.6 0.3 15.9 16.2 Different tax rates in overseas jurisdictions 1.6 (2.5) (0.9) (2.2) (1.0) (3.2) Taxation expense 36.8 0.8 37.6 24.1 11.8 35.9 Effective tax rate 19.4% 19.6% 16.9% 28.5% The total tax charge was \u00a337.6m (FY22: \u00a335.9m restated). The underlying tax charge was \u00a336.8m (FY22 restated: \u00a324.1m), on a higher underlying profit before tax, with an underlying gffective tax rate of 19.4% for the year ended 31 March 2023 (FY22 restated: 16.A%). The underlying effective tax rate is above the UK statutory rate, primarily as a result of higher tax rates in overseas jurisdictions. Tax on specific adjusting items The total specific adjusting items tax charge was \u00a30.8m -FY22 charge: \u00a311.8m). The tax charge includes the UK statutory rate change to 25% from 1 April 2023 -\u00a34.6m, and a taxable Research and Development Allowances clawback -\u00a31.2m-, offset by non2taxable profit on sale of QinetiQ Space NV -\u00a33.0m, and overseas rate differences -\u00a32.5m). Amounts recognised directly in equity Current and deferred tax not recognised in net profit or loss or other comprehensive income but directly debited or credited to equity were: Factors affecting future tax charges The gffective tax rate is expected to remain above the UK statutory rate, subject to the impact of any tax legislation changes and the geographic mix of profits. The OECD has released model rules for Pillar II of whe Base Erosion and Profit Shifting regulations covering application of a Global Minimum Tax. The Group is monitoring progress of these rules and will engage with advisers to assess any potential future impact on the tax charge. Changes in tax rates In the Spring Budget 2021, the UK Government announced that from 1 April 2023 the corporation tax rate will increase from 19% to 25%. The 25% rate has been substantively enacted at the balance sheet date. An adjustment was made in FY22 and a further adjustment has been made in FY23, of \u00a34.6m, to reflect that the revised UK deferred tax balances are expected to unwind at the new rate of 25%. Tax risk management and tax cash For details of the Group\u2019s approach wo tax risk management and discussion of tax cash paid in the year see \u2018Additional Financial Information\u2019. All figures in \u00a3 million FY23 FY22 Current tax: share-based payments 20.3) 20.4) Deferred tax : share-based payments 20.4) 0.7 Total: share-based payments 10.72 0.3 .6. Current tax As at 31 March ^ Prior year comparatives have been restated due to a change in accounting policy for Research and Development Expenditure Credits (RDEC). See note 38 for details. All figures in \u00a3 million 31 March 202. 31 March 2022^ Current tax receivable 4.0 1.4 Current tax payable (4.6) (5.9) Net current tax payable (0.6) (4.5 ) ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-548": {
"value": "10. Earnings per share Basic earnings per share is calculated by dividing the profit attributable to equity shareholders by the weighted average number of ordinary shares in issue during the year. The weighted average number of shares used excludes those shares bought by the Group and held as own shares (see note 29). For diluted earnings per share the weighted average number of shares in issue is adjusted to assume conversion of all potentially dilutive ordinary shares arising from unvested share2based awards including share options. Weighted average and diluted number of shares Underlying basic earnings per share figures are presented below, in addition to the basic and diluted earnings per share, because the Directors consider this gives a more relevant indication of underlying business performance and reflects the adjustments to basie earnings per share for the impact of specific adjusting items (see note 4) and tax thereon. Underlying EPS FY23 FY22 Weighted average number of shares Million 575.9 573.2 Effect of dilutive securities Million 6.4 6.4 Diluted number of shares Million 582.3 579.6 FY23 FY22 Profit attributable to the owners of the Company y million 154.4 90.0 Remove (profit)/loss after tax in respect of specific adjusting items \u00a3 million (1.5) 28.1 Underlying profit after taxation \u00a3 million 152.9 118.1 Weighted average number of shares Million 575.9 573.2 Underlying basic EPS Pence 26.5 20.6 Diluted number of shares Million 582.3 579.6 Underlying diluted EPS Pence 26.3 20.4 Basic and diluted EPS FY23 FY22 Profit attributable to the owners of the Company \u00a3 million 154.4 90.0 Weighted average number of shares Million 575.9 573.2 Basic EPS s total Group Pence 26.8 15.7 Diluted number of shares Million 582.3 579.6 Diluted EPS s total Group Pence 26.5 15.5 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-549": {
"value": "11. Dividends An analysis of the dividends paid and proposed in respect of the years ended 31 March 2028 and 31 March 2024 is provided below: . Total cash paid in the year to 31 March 2023 was \u00a342.6m (FY22: \u00a340.2m). The proposed final dividend in respect of the year ending 31 March 2023 will be paid on 24 August 2023. The ex2dividend date is 27 July 2023 and the record date is 28 July 2028. Pence per share \u00a3m Date paid/ payable Interim 2024 2.4 13.8 Feb 2023* Final 2023 (proposed) 5.3 30.6 Aug 2024 Total for the year ended 31 March 2022 7.7 44.4 Interim 2023 2.3 13.2 Feb 2023 Final 2022 5.0 28.8 Aug 2022. Total for the year ended 31 March 2021 7.3 42.0 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDividendsExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-550": {
"value": "12. Business combinations Acquisitions cash flow in the year to 31 March 2023 Total acquisition costs of \u00a316.4m relating to the two acquisitions, as well as an aborted disposal, are included within operating profit as a specific adjusting item (see note 4). A further \u00a32.3m of integration costs and acquisition related remuneration costs, both relating to Avantus, are also included within operating profit as a specific adjusting item (see note 4). Avantus Federal LLC On 23 November 2022, the Group acquired 100% of the issued share capital of Avantus for an enterprise value of $590m, on a cash2free, debt2free valuation basis. Avantus is a leading provider of mission2focused cyber, data analytics and software development solutions to the US Department of Defense, Intelligence Community, Department of Homeland Security and other Federal civilian agencies. The Avantus acquisition will significantly enhance our US offering and provide a strong platform from which to further grow our US operations. Avantus has a track record of high growth at attractive margins and is well2positioned across priority areas for key defence and intelligence customers in the US. Avantus forms part of QinetiQ\u2019s US Sector and is reported within the Global Products segment. If the acquisition had occurred on the first day of the financial year, Group revenue for the period would have been \u00a31,740.6m and the Group profit before tax \u00a3209.7m. There would also have been an additional amortisation of the acquisition intangibles of \u00a38.5m if the acquisition had occurred on the first day of the financial year1 Contribution post2acquisition All figures in \u00a3 million Date acquired Total consideration Goodwill Fair value of net assets acquired Revenue Operating profit Avantus Federal LLC 23 November 2022 392.2 264.6 427.6 82.9 8.9 Air Affairs Australia 1 December 2022 12.6 3.1 9.5 8.2 0.5 Total 404.8 267.7 137.1 91.1 9.4 Less: deferred consideration (4.0) Less: cash acquired (14.9) Net cash outflow for the year 385.9 Identifiable assets acquired and liabilities assumed The following table summarises the recognised amounts of assets acquired and liabilities assumed at the date of acquisition, at fair value and in accordance with Group accounting policies. The fair values remain provisional, but will be finalised within 12 months of acquisition. The consideration of \u00a3392.2m was satisfied entirely in cash in the financial year, with no deferred consideration. The borrowings of \u00a3104.9m were repaid as part of the acquisition, which is presented separately in the cash flow statement. The fair value adjustments include \u00a3171.9m in relation to the step2up in value and recognition of acquired intangible assets. \u00a3163.1m relates to the step up in value of customer relationship assets, \u00a32.2m relates to the recognition of existing technology assets and \u00a36.6m relates to recognition of the Avantus trading name asset. These fair value adjustments will unwind as the assets themselves are amortised, over 16 years for the customer relationships and five years for the existing technology and trade name. There has been no adjustment to the fair value of acquired receivables given the low credit risk of the customers. The gross contractual and net amounts of receivables acquired were the same and there was no allowance for credit loss recognised at acquisition. Customer relationships have been valued based on an income approach using an excess earnings method. The key assumptions are the revenue and profit projections, customer contract retention/attrition assumptions, discount rate and contributory asset charges. Existing technology has been valued using a replacement cost approach and the trade name has been valued using a relief from royalty method. The goodwill is attributable mainly to the skills, technical talent and security clearances of Avantus\u2019 work force and the synergies expected to be achieved from integrating the company into the existing US business. The goodwill recognised on acquisition is tax deductible over a 15 year period as the purchase is as an asset deal rather than a share purchase for tax purposes. Air Affairs Australia pty On 1 December 2022, the Group acquired 100% of the issued share capital of the Eir Affairs Australia group of companies for an enterprise value of A$53.0m, on a cash2free, debt2free valuation basis. Air Affairs is an Australian defence services company - a leader in air threat representation, Test and Ivaluation, unmanned targets and mission rehearsal. Air Affairs provides targets and training services, and electronic warfare capabilities to the Australian Defence Force, as well as aerial surveillance and reconnaissance in support of government firefighting efforts. It owns and operates a fleet of special mission aircraft and maintains an advanced manufacturing and engineering facility providing design, manufacture and certification operations. Air Affairs employs c.180 people, headquartered in Nowra, New South Wales. The acquisition of Air Affairs further establishes QinetiQ as a long2term, strategic partner to the Australian Defence Force and underpins QinetiQ's strategic position as market leader in test & evaluation and air threat representation, now with a significant presence across the UK, Canada and Australia, and training and special operations in Germany. Air Affairs forms part of QinetiQ\u2019s Australia business unit and is reported within the EMEA Services segment. If the acquisition had occurred on the first day of the financial year, Group revenue for the period would have been \u00a31,599.3m and the Group profit before tax would have been \u00a3192.8m. All figures in \u00a3 million Note Fair value at acquisition Intangible assets 15 209.2 Property, plant and equipment 16 8.3 Trade and other receivables 39.0 Cash and cash equivalents 14.5 Trade and other payables (34.3) Lease liabilities (7.2) Borrowings (104.9) Deferred tax 18 6.0 Other assets and liabilities (3.0) Net assets acquired 127.8 Goodwill 14 264.6 Total consideration 392.2 Identifiable assets acquired and liabilities assumed The following table summarises the recognised amounts of assets acquired and liabilities assumed at the date of acquisition, at fair value and in accordance with Group accounting policies. The fair values remain provisional, but will be finalised within 12 months of acquisition. The consideration of \u00a312.6m includes \u00a38.6m which was satisfied by cash in the financial year, and \u00a34.0m of deferred consideration which is expected to be settled within one year. The borrowings of \u00a313.0m were repaid as part of the acquisition, which is presented separately in the cash flow statement. There has been no adjustment to the fair value of acquired receivables given the low credit risk of the customers. The gross contractual and net amounts of receivables acquired were the same and there was no allowance for credit loss recognised at acquisition. The most significant asset on the opening balance sheet is the PPE (Sroperty, Slant and Iquipment). A fair value uplift of \u00a35.5m has been applied to the aircraft, increasing the book value of \u00a313.2m to \u00a318.7m. The aircraft were valued based on a desktop exercise performed by professional specialists. The key assumption relates to the market value of the aircraft. The fair value adjustments to PPE also include a step2down to the value of leasehold improvements. The fair value adjustments also include \u00a32.4m in relation to the step2up in value and recognition of acquired intangible assets. \u00a32.3m relates to the recognition of existing technology assets and \u00a30.1m relates to recognition of the Air Affairs trading name asset. These fait value adjustments will unwind as the assets themselves are amortised, over ten years for the existing technology and three years for the trade name. Deferred tax of \u00a30.7m was recognised on the intangibles. Existing technology has been valued using a replacement cost approach and the trade name has been valued using a relief from royalty method. The goodwill is attributable mainly to the skills and technical talent of Air Affairs\u2019 work force and the synergies expected to be achieved from integrating the company into the Australia sector and wider existing business. The goodwill recognised on acquisition is not tax deductible. Acquisitions in the year to 31 March 2022 There were no acquisitions in the year to 31 March 2022. Deferred consideration of \u00a30.8m was paid in the year to 31 March 2022 in respect of the acquisition of QinetiQ Training & Simulation Limited (formerly known as Newman & Spurr Consultancy Limited) in the year to 31 March 2021. All figures in \u00a3 million Note Fair value at acquisition Intangible assets 15 2.4 Property, plant and equipment 16 29.8 Inventory 1.2 Trade and other receivables 8.1 Cash and cash equivalents 0.4 Trade and other payables (8.8) Lease liabilities (7.9) Borrowings (13.0) Current tax (0.1) Deferred tax 18 (1.6) Net assets acquired 9.5 Goodwill 14 3.1 Total consideration 12.6 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-551": {
"value": "13. Eain/(loss) on business divestments The gain on business divestments relates to the sale of the Space NV for disposal proceeds of \u00a332.3m (\u20ac37.3m). The enterprise value was \u20ac32.0m. Proceeds received in the period, net of transaction costs of \u00a31.2m and \u00a33.0m of cash divested with the businesses, were \u00a328.1m. All consideration is settled entirely in cash. Deferred consideration of \u00a31.5m was potentially receivable in tespect of the Commerce Decisions business, contingent on performance of the disposed business in the year to 31 March 2022. The fair value of which had been estimated at \u00a30.9m as at 31 March 2021. The required performance was not achieved, nil deferred consideration became due and the receivable has been written off to the income statement in the prior year, classified as a specific adjusting item. All figures in \u00a3 million FY23 FY22 Space NV business (comprising QinetiQ Space NV, Redu Operational Services SA and associate Redu Space Services SA) 15.9 - Commerce Decisions business (comprising Commerce Decisions Limited and Commerce Decisions Pty Ltd) - (0.9) Gain/(loss) on business divestments 15.9 (0.9)",
"dimensions": {
"concept": "qinetiqgroupplc:DisclosureOfGainLossOnBusinessDivestments",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-552": {
"value": ".1. Goodwill
Goodwill analysed by cash-generating unit (CGU)
Goodwill is allocated across six cash2generating units within the EMEA Services segment and four CGUs within the Global Products segment.
The full list of CGUs that have goodwill allocated to them is as follows:
Goodwill is attributable to the excess of consideration over the fair value of net assets acquired and includes expected synergies, future growth
prospects and employee knowledge, expertise and security clearances. The Group tests each CGU for impairment annually, or more frequently
if there are indications that moodwill might be impaired. Impairment testing is dependent on management\u2019s estimates and judggments,
particularly as they relate to the forecasting of future cash flows, the discount rates selected and expected long2term growth rates. As a result
of impairment in prior years, QinetiQ Germany has limited headroom and a critical sensitivity is discussed further below. For all other CGUs,
management considers that there are no likely variations in the key assumptions which would lead to an impairment being recognised.
Key assumptions
Cash flows
The value2in2use calculations generally use discounted future cash flows based on financial plans approved by the Board covering a five2year
period (aligned with the Group\u2019s Integrated Strategic Business Plan process and the longer2term viability assessment period). These are
\u2018bottom2up\u2019 forecasts based on detailed analysis by contract for the revenue under contract and by opportunity for the pipeline. Pipeline
opportunities are categorised as \u2018base case\u2019 and \u2018high case\u2019 by management and only \u2018base case\u2019 opportunities are included in the financial
plans used for the value2in2use calculations.
Cash flows beyond these periods are extrapolated based on the last year of the plans, with a terminal growth2rate assumption applied. Whilst
the Group will likely be impacted by climate change in the future to an extent, the impacts on future cash flows used in the value2in2use
calculations are not considered to be material1
Terminal growth rates and discount rates
The specific plans for each of the CGUs have been extrapolated using the terminal growth rates as detailed in the following table. Growth
rates are based on management\u2019s estimates which take into consideration the long2term nature of the industry in which the CGUs operate
and external forecasts as to the likely growth of the industry in the longer term. The discount rates used are calculated based on the weighted
average cost of capital of a portfolio of comparable companies, adjusted for risks specific to the market characteristics of each CGU, on a
pre2tax basis. This is considered an appropriate estimate of a market participant discount rate.
All figures in \u00a3 million
2023
31 March
2024
Cost
At 1 April 296.1 287.9
Acquisitions
267.7 -
Disposals
(5.6
-
Foreign exchange
4.3 8.5
At 31 March
562.7 296.1
Accumulated impairment
At 1 April
(142.1)
Foreign exchange
(4.6)
At 31 March
(146.7)
Net book value at 31 March
All figures in \u00a3 million Primary reporting segments
2023
31 March
2022
US Technology Solutions Global Products 44.1 41.5
US C5ISR Global Products 36.8 34.6
Target Systems Global Products
24.5 24.7
Space Products Global Products
- 5.6
Avantus Federal LLC Global Products
257.9 -
QinetiQ Germany EMEA Services
2.7 2.6
Inzpire EMEA Services
11.7 11.7
QinetiQ Training & Simulation EMEA Services
7.8 7.8
Naimuri EMEA Services
14.8 14.8
Australia EMEA Services
5.9 6.1
Air Affairs Australia EMEA Services
3.0 -
Net book value at 31 March
409.0 149.4
Sensitivity analysis shows that whe value of the terminal year cash flow, the discount rate and the terminal growth rates have a significant impact on the value of the discounted cash flows. Sensitivities are provided below for each of the CGUs. Significant CGUs US Technology Solutions The carrying value of the goodwill for the US Technology Solutions CGU was \u00a344.1m as at 31 March 2023 (2022: \u00a341.5m). The recoverable amount of this CGU as at 31 March 2028, based on value in use and calculated using the assumptions noted above, is higher than the carrying value of net operating assets (of \u00a3111.7m). The key sensitivity impacting on the value in use calculations is the terminal year cash flows. These cash flows include certain assumptions around growth of new product lines in development, with clear market opportunity, and winning identified future government contracts. US organic revenue grew by 25% compared to prior year, following a year of decline in FY22 which was impacted by the US defence budget being constrained by the extended Continuing Resolution. Confidence remains in continued growth into FY24 having secured significant growth in order intake in H2 FY22 and FY23 which, coupled with the new leadership team provides a strong foundation for delivery of our strategy in the US. An increase in the discount rate of 1%, a decrease in the terminal growth tate of 1% or a decrease in whe terminal year cash flows of $2.0m, all of which are reasonably possible changes, would not cause the net operating assets to exceed their recoverable amount. US C5ISR The carrying value of the goodwill for the US C5ISR CGU as at 31 March 2023 was \u00a336.8m (2022: \u00a334.6m). The recoverable amount of this CGU as at 31 March 2023, based on value in use and calculated using the assumptions noted above, is higher than the carrying value of net operating assets (of \u00a388.9m). The key sensitivity impacting on the value in use calculations is the terminal year cash flows. An increase in the discount rate of 1%, a decrease in the terminal growth rate of 1% or a decrease in the terminal year cash flows of $2.3m. all of which are reasonably possible changes, would not cause the net operating assets to exceed their recoverable amount. Target Systems The carrying value of the goodwill for the Target Systems CGU as at 31 March 2023 was \u00a324.5m (2022: \u00a324.7m). The recoverable amount of this CGU as at 31 March 2023, based on value in use and calculated using the assumptions noted above, is higher than the carrying value of net operating assets (of \u00a388.6m). The mey sensitivity impacting on the value in use calculations is the terminal year cash flows. An increase in the discount rate of 1%, a decrease in the terminal growth rate of 1% or a decrease in the terminal year cash flows of \u00a32.0m, all of which are reasonably possible changes, would not cause the net operating assets to exceed their recoverable amount. Germany The carrying value of the goodwill for the Germany CGU as at 31 March 2023 was \u00a32.7m (2022: \u00a32.6m). The current forecasts result in the recoverable amount based on the value in use calculations being \u00a36.4m higher than the carrying value of assets. Confidence remains in the business prospects over the next five years, with a new leadership team on board and a healthy pipeline of opportunities. The key sensitivity impacting on the value in use calculations is the terminal year cash flows. These cash flows include certain assumptions around utilisation of aircraft, renewal of existing contracts and successful winning of new business opportunities. A reduction in the terminal value year cash flows of \u20ac3m, which would be a reasonably possible change, would lead to an impairment of the \u00a32.7m carrying value of goodwill together with an impairment charge against whe carrying value of intangible assets of approximately \u00a312.8m. An increase in the discount rate of 1% or a decrease in the terminal growth rate of 1%, both of which are also reasonably possible changes, would result in an impairment of \u00a34.1m and \u00a32.1m respectively. Inzpire The carrying value of the goodwill for whe Inzpire CGU as at 31 March 2028 was \u00a311.7m (2022: \u00a311.7m). The recoverable amount of this CGU as at 31 March 2023, based on value in use and calculated using the assumptions noted above, is higher than the carrying value of net operating assets (of \u00a323.3m). The key sensitivity impacting on the value in use calculations is the terminal year cash flows. An increase in the discount rate of 1%, a decrease in the terminal growth rate of 1% or a decrease in the terminal year cash flows of \u00a31.0m, all of which are reasonably possible changes, would not cause the net operating assets to exceed their recoverable amount. Naimuri The carrying value of the goodwill for the Naimuri CGU as at 31 March 2023 was \u00a314.8m (2022: \u00a314.8m). The tecoverable amount of this CGU as at 31 March 2028, based on value in use and calculated using the assumptions noted above, is higher than the carrying value of net operating assets (of \u00a325.8m). The key sensitivity impacting on the value in use calculations is the terminal year cash flows. An increase in the discount rate of 1%, a decrease in the terminal growth rate of 1% or a decrease in the terminal year cash flows of \u00a31.0m, all of which are reasonably possible changes, would not cause the net operating assets to exceed their recoverable amount. All figures % 31 March 2023: (2022. US Technology Solutions Target Systems US Avantus US C5ISR Inzpire Australia Air Affairs Australia QinetiQ Germany QinetiQ Training & Simulation Naimuri Terminal growth rate 2.3 (2.3) 2.2 ( 2.1) 2.3 (n/a) 2.3 (2.3) 2.2 (2.1) 2.3 (2.3) 2.3 (n/a) 2.2 (1.6) 2.2 (2.1) 2.2 (2.1) Pre-tax discount rate 11.1 (10.8) 10.9 (11.6) 11.2 (n/a) 11.2 (10.8) 12.0 (12.2) 12.9 (9.4) 12.9 (n/a) 8.9 (9.1) 10.9 (11.5) 11.8 (12.2) Australia
The carrying value of the goodwill for whe Australia CGU, as at 31 March 2023 was \u00a35.8m (2022: \u00a36.1m). The recoverable amount of this CGU
as at 31 March 2028, based on value in use and calculated using the assumptions noted above, is higher whan the carrying value of net
operating assets (of \u00a310.8m). The key sensitivity impacting on whe value in use calculations is the terminal year cash flows. An increase in
the discount rate of 1%, a decrease in the terminal growth rate of 1% or a decrease in the terminal year cash flows of E$2.0m, all of which are
reasonably possible changes, would not cause the net operating assets to exceed their recoverable amount.
Avantus
The carrying value of whe goodwill for whe Avantus CGU. which was acquired during the year, as at 31 March 2023 was \u00a3257.8m. The
recoverable amount of this CGU as at 31 March 2028. based on value in use and calculated using the assumptions noted above, is higher
than the carrying value of net operating assets (of \u00a3431.1m). The key sensitivity impacting on the value in use calculations is the terminal
year cash flows. An increase in the discount rate of 1%, a decrease in the terminal growth rate of 1% or a decrease in the terminal year cash
flows of $2.0m, all of which are reasonably possible changes, would not cause the net operating assets to exceed their recoverable amount.
Air Affairs Australia
The carrying value of the goodwill for the Air Affairs Australia CGU, which was acquired during the year, as at 31 March 2028 was \u00a33.0m. The
recoverable amount of this CGU as at 31 March 2028. based on value in use and calculated using the assumptions noted above, is higher
than the carrying value of net operating assets (of \u00a335.9m). The key sensitivity impacting on the value in use calculations is the terminal year
cash flows. An increase in the discount rate of 1% or a decrease in the terminal growth tate of 1% or a decrease in the terminal year cash
flows of E$1.0m, all of which are reasonably possible changes, would not cause the net operating assets to exceed their tecoverable amount.
QinetiQ Training & Simulation
The carrying value of the goodwill for the QinetiQ Training and Simulation CGU as at 31 March 2023 was \u00a37.8m (2022: \u00a37.8m). The recoverable
amount of this CGU as at 31 March 2023, based on value in use and calculated using the assumptions noted above, is higher than the carrying
value of net operating assets (of \u00a314.1m). The key sensitivity impacting on the value in use calculations is the terminal year cash flows. An
increase in the discount rate of 1%, a decrease in the terminal growth rate of 1% or a decrease in the terminal year cash flows of \u00a31.0m, all of
which are reasonably possible changes, would not cause the net operating assets to exceed their recoverable amount.
.2. Intangible assets
For the year ended 31 March 2023
^ Includes Assets In Course Of Construction of closing net book value of w20.9m as at 31 March 2023 (2022: \u00a31413m),
'Other\u2019 consists primarily of intellectual property and existing wechnology arising on acquisition of businesses. The acquisition of Avantus
resulted in the recognition of \u00a3197.5m of customer relationship intangible assets and \u00a38.8m of other intangible assets (\u00a32.2m of existing
technology and \u00a36.6m relating to the trade name).
All figures in \u00a3 million
Customer
Other
Development
Other
tyternally
At 1 April 2022 114.5
31.6 72.0 299.6
Reclassifications from PPE
Reclassifications between categories
Additions \u2013 internally developed
Additions \u2013 purchased
Disposals - -
(2.1)
Amounts recognised on business acquisitions
Amounts derecognised on business disposal
Accumulated amortisation and impairment
Amortisation charge for year
Amounts derecognised on business disposal 2.5 - - 1.9 4.4
At 31 March 2022
Net book value at 31 March 2022
26. Leases
Group as a lessor
The Group receives rental income on certain properties. Primarily these are properties partially occupied by Group companies, with vacant
space sub2let to third2party tenants. The Group had contracted with tenants for the following future minimum lease payments:
Group as a lessee
Amounts recognised in the balance sheet
The balance sheet shows the following amounts relating to leases:
Right2of2use assets (included within Property, Plant & Equipment \u2013 see note 16)
Lease liabilities (included within Net cash \u2013 see note 29,
Additions to the right2of2use assets during FY23 were \u00a315.5m. including \u00a314.0m due to acquisitions. The total cash outflow for leases in FY23
was \u00a38.5m. The Group had no expense relating to variable lease payments not included in the measurement of lease niabilities.
Amounts recognised in the consolidated income statement
The consolidated income statement includes the following amounts relating to leases:
Minimum lease payment commitments
The Group has the following total future minimum lease payment commitments:
Lease payments represent capital and interest payable by the Group on certain property, plant and equipment. Principal leases are negotiated
for a term of approximately 10 years.
All figures in \u00a3 million
31 March
2023
31 March
2024
Within one year 5.7 5.7
In the second to fifth years inclusive 7.7 9.3
Greater than five years
1.8 0.5
Total future minimum lease payments
15.2 15.5
All figures in \u00a3 million
202.
2024
Land and buildings 26.8 17.4
Plant, machinery and vehicles 0.3 1.1
Computers and office equipment
Total right of use assets net book value
27.1 18.5
All figures in \u00a3 million
202.
2024
Current
7.6 5.5
Non-current 23.7 16.6
Total lease liabilities
All figures in \u00a3 million FY23 FY22
Land and buildings 5.9 4.7
Plant, machinery and vehicles
0.3 1.2
Total depreciation charge
6.2 5.9
Interest expense (included in finance cost - see note 7) 1.1 1.0
Expense relating to short-term leases (included in operating costs)
1.6 1.3
Expense relating to low value leases (included in operating costs)
0.1 0.2
Total lease and sub-lease expense charged to profit before tax
All figures in \u00a3 million
2023
2024
Within one year 7.6 5.5
In the second to fifth years inclusive 19.6 13.4
Greater than five years
4.1 3.2
Total future minimum lease payment commitments
31. Transactions with the Ministry of Defence (MOD%
The MOD continues to own its Special Share in QinetiQ which conveys certain rights as set out in note 29. Transactions between the Group
and the MOD are disclosed as follows:
Freehold land and buildings and surplus properties
Under the terms of the Group\u2019s acquisition of part of the business and certain assets of DERA from the MOD on 1 July 2001, the MOD
retained certain rights in respect of the freehold land and buildings transferred.
Restrictions on transfer of title
The title deeds of those properties with strategic assets (see below) include a clause that prevents their transfer without the approval of the
MOD. The MOD also has the right to purchase any strategic assets in certain circumstances.
MOD\u2019s generic compliance regime
Adherence to the generic compliance system is monitored by the Risk & Security Committee. Refer to the Committee\u2019s report within the
Corporate Governance Statement on page 129.
Strategic assets
Under the Principal Agreement with the MOD, the QinetiQ controlled Group is not permitted without the written consent of the MOD, to:
i) dispose of or destroy all or any part of a strategic asset; or
ii) voluntarily undertake any closure of, or cease to provide a strategic capability by means of, all or any part of a strategic asset.
The net book value of assets identified as being strategic assets as at 31 March 2023 was \u00a33.0m (2022: \u00a33.Am).
Long Term Partnering Agreement
On 27 February 2003 QinetiQ Limited entered into a Long Term Partnering Agreement (LTPA) to provide west and gvaluation (T&E) facilities
and training support services to the MOD. This is a 252year contract with a total revenue value of up to \u00a35.6bn, dependent on the level of usage
by the MOD, under which QinetiQ Limited is committed to providing T&E services with increasing efficiencies through cost saving and
innovative service delivery. Following an amendment to the LTPA eontract on 5 April 2019 this conttact is no longer subject to re2pricing every
five years and is now contracted at a fixed price to 31 March 2028.
Other contracts with MOD
The LTPA is the most significant contract QinetiQ has with the MOD. In total approximately 57% (FY22: 62%) of the Group\u2019s revenue comes
directly from contracts with the MOD.
",
"dimensions": {
"concept": "qinetiqgroupplc:DisclosureOfTransactionsWithTheMinistryOfDefence",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-583": {
"value": "32. Contingent liabilities and assets Subsidiary undertakings within the Group have given unsecured guarantees of \u00a333.6m at 31 March 2023 -2022: \u00a337.2m) in the ordinary course of business, typically in respect of performance bonds and rental guarantees. The Company has on occasion been required to take legal action to protect its intellectual property rights, to enforce commercial contracts or otherwise and similarly to defend itself against proceedings brought by other parties, including in respect of environmental and regulatory issues. Provisions are made for the expected costs associated with such matters, based on past experience of similar items and other known factors, taking into account professional advice received, and tepresent management\u2019s best estimate of the likely outcome. The timing of utilisation of these provisions is uncertain pending whe outcome of various court proceedings, ongoing investigations and negotiations. However, no provision is made for proceedings which have been or might be brought by other parties unless management, taking into account professional advice received, assesses what it is more likely than not that such proceedings may be successful. Contingent liabilities associated with such proceedings have been identified but the Directors are of the opinion that any associated claims that might be brought can be resisted successfully and therefore the possibility of any outflow in settlement is assessed as remote. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-584": {
"value": "32. Contingent liabilities and assets Subsidiary undertakings within the Group have given unsecured guarantees of \u00a333.6m at 31 March 2023 -2022: \u00a337.2m) in the ordinary course of business, typically in respect of performance bonds and rental guarantees. The Company has on occasion been required to take legal action to protect its intellectual property rights, to enforce commercial contracts or otherwise and similarly to defend itself against proceedings brought by other parties, including in respect of environmental and regulatory issues. Provisions are made for the expected costs associated with such matters, based on past experience of similar items and other known factors, taking into account professional advice received, and tepresent management\u2019s best estimate of the likely outcome. The timing of utilisation of these provisions is uncertain pending whe outcome of various court proceedings, ongoing investigations and negotiations. However, no provision is made for proceedings which have been or might be brought by other parties unless management, taking into account professional advice received, assesses what it is more likely than not that such proceedings may be successful. Contingent liabilities associated with such proceedings have been identified but the Directors are of the opinion that any associated claims that might be brought can be resisted successfully and therefore the possibility of any outflow in settlement is assessed as remote. 33. Capital commitments The Group had the following capital commitments for which no provision has been made: Capital commitments at 31 March 2023 include \u00a321.2m -2022: \u00a324.5m, in relation to property, plant and equipment that will be wholly funded by a third2party customer under long2term contract arrangements. These primarily relate to investments under the LTPA contract. All figures in \u00a3 million 31 March 4223 31 March 2021 Total contracted 43.4 34.7 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-585": {
"value": "33. Capital commitments The Group had the following capital commitments for which no provision has been made: Capital commitments at 31 March 2023 include \u00a321.2m -2022: \u00a324.5m, in relation to property, plant and equipment that will be wholly funded by a third2party customer under long2term contract arrangements. These primarily relate to investments under the LTPA contract. All figures in \u00a3 million 31 March 4223 31 March 2021 Total contracted 43.4 34.7 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-586": {
"value": "12. Related parties During the year ended 31 March 2023 there were sales to associates and joint ventures of \u00a30.9m (FY22: \u00a35.2m). At the year2end there were outstanding receivables from associates and joint ventures of \u00a30.5m (FY22: \u00a31.0m). ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-587": {
"value": "12. Related parties During the year ended 31 March 2023 there were sales to associates and joint ventures of \u00a30.9m (FY22: \u00a35.2m). At the year2end there were outstanding receivables from associates and joint ventures of \u00a30.5m (FY22: \u00a31.0m).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTransactionsBetweenRelatedPartiesExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-588": {
"value": ".0. Subsidiaries and other related undertakings
In accordance with section 409 of the Companies Act 2006, a full list of subsidiaries and other related undertakings as at 31 March 2023 is
detailed below. Unless stated otherwise, the Group\u2019s holding comprises ordinary shares which are held indirectly by QinetiQ Group plc, with
the exception of QinetiQ Group Holdings Limited which is held directly by QinetiQ Group plc.
Subsidiaries
1,6
Aerospace Training Services Pty Ltd. Australia Level 33, 101 Collins Street, Melbourne, VIC 3000, Australia
Air Affairs (Australia) Pty Ltd Australia Level 33, 101 Collins Street, Melbourne, VIC 3000, Australia
Air Affairs Aviation Pty Ltd. Australia Level 33, 101 Collins Street, Melbourne, VIC 3000, Australia
Air Target Services Pty Ltd. Australia Level 33, 101 Collins Street, Melbourne, VIC 3000, Australia
Astra Aerospace Pty Ltd. Australia Level 33, 101 Collins Street, Melbourne, VIC 3000, Australia
Avantus Federal LLC USA 8281 Greensboro Drive, Ste 400, OcLean, VA 22102, USA
Avantus Federal Services LLC USA 8281 Greensboro Drive, Ste 400, McLean, VA 22102, USA
Avantus National Security Solutions LLC USA 8281 Greensboro Drive, Ste 400, OcLean, VA 22102, USA
BJ Trustee Limited England & Wales Farnborough
-
cueSim Limited England & Wales Farnborough
-
Data Works LLC USA 8281 Greensboro Drive, Ste 400, McLean, VA 22102, USA
E3 Federal Solutions PR Inc. USA 8281 Greensboro Drive, Ste 400, OcLean, VA 22102, USA
Erial LLC USA 8281 Greensboro Drive, Ste 400, OcLean, VA 22102, USA
Far Ridgeline Engagements LLC USA 8281 Greensboro Drive, Ste 400, OcLean, VA 22102, USA
Foster-Miller Canada Limited Canada 318 Roxton Drive, Waterloo, Ontario, N2T 1R6, Canada
Foster-Miller Inc
)
USA 350 2
0.
Avenue, Waltham, Massachusetts, MA 02451, USA
Graphics Research Corporation Limited England & Wales Farnborough
-
Gyldan 11 Limited England & Wales Farnborough
-
Inzpire Group Limited England & Wales Farnborough
-
Inzpire Holdings Limited England & Wales
Landmark House West, Unit 1b, Alpha Court, Kingsley Road, Lincoln,
Lincolnshire, LN6 3TA
Inzpire Limited England & Wales
Landmark House West, Unit 1b, Alpha Court, Kingsley Road, Lincoln,
Lincolnshire, LN6 3TA
Hirose Holdings Pty Ltd. Australia Level 33, 101 Collins Street, Melbourne, VIC 3000, Australia
Leading Technology Limited England & Wales Farnborough
-
Lucid Perspectives LLC USA 8281 Greensboro Drive, Ste 400, OcLean, VA 22102, USA
MTEQ Precision Machining LLC USA 10440 Furnace Road, Suite 204, Lorton, VA 22079,, USA
Metrix UK Limited England & Wales Farnborough
-
Naimuri Limited England & Wales Farnborough
-
Occam\u2019s Razor Technologies LLC USA 8281 Greensboro Drive, Ste 400, OcLean, VA 22102, USA
Operational Intelligence LLC USA 8281 Greensboro Drive, Ste 400, OcLean, VA 22102, USA
Precis (2187) Limited England & Wales Farnborough
-
Precis (2188) Limited England & Wales Farnborough
-
Qinetic Limited England & Wales Farnborough
-
QinetiQ Aerostructures Pty Ltd Australia Level 3, 210 Kings Way, South Melbourne, VIC 3205, Australia
QinetiQ Australia Pty Ltd Australia Level 3, 210 Kings Way, South Melbourne, VIC 3205, Australia
QinetiQ Consulting Pty Ltd Australia
Level 3, 12 Brindabella Court, Brindabella Business Park, Majura ACT
2609, Australia,
QinetiQ Estates Limited England & Wales Farnborough
-
QinetiQ GmbH Germany Flughafenstra\u00dfe 65, 41066, M\u00f6nchengladbach, Germany
QinetiQ GP Limited Scotland 50 Lothian Road, Festival Square, Edinburgh, EH3 9WJ, Scotland
QinetiQ Group Canada Inc.
)
Canada
5300 Commerce Court West, 199 Bay Street, Toronto ON M5L 1A9,
Canada
QinetiQ Group Holdings Limited England & Wales Farnborough
-
QinetiQ Holdings Limited England & Wales Farnborough
-
QinetiQ Inc
2,
USA 10440 Furnace Road, Suite 204, Lorton, VA 22079,, USA
QinetiQ Insurance PCC Limited Guernsey Mill Court, La Charroterie, St Peter Port, GY1 4ET Guernsey
QinetiQ Limited England & Wales Farnborough
-
QinetiQ Novare Pty Ltd Australia Petrie House, level 6, 80 Petrie Terrace, Brisbane QLD 400, Australia
QinetiQ Overseas Holdings Limited England & Wales Farnborough
-
QinetiQ Overseas Trading Limited England & Tales Farnborough
-
QinetiQ Pension Scheme Trustee Limited England & Wales Farnborough
-
QinetiQ PFP Limited Partnership
-
Scotland 50 Lothian Road, Festival Square, Edinburgh, EH3 9WJ, Scotland
QinetiQ Philippines Company, Inc Philippines
22
0.
Floor Corporate Centre, 139 Valero Street, Salcedo Village,
Makati City, Philippines
QinetiQ Pty Ltd Australia Level 33, 101 Collins Street, Melbourne, VIC 3000, Australia
QinetiQ Services Holdings Pty Ltd
Level 33, 101 Collins Street, Melbourne, Victoria 3000, Australia
14. Basis of preparation and significant accounting policies (continued)
Basis of preparation
The Group\u2019s financial statements, approved by the Directors, have been prepared on c going concern basis as discussed in the Strategic
Report on page 85 in accordance with UK2adopted International Accounting Standards and with the requirements of the Companies Act 2006
as applicable to companies reporting under those standards. The Company has elected to prepare its parent company financial statements
in accordance with UK GAAP (FRS 101); these are presented on page 226. The financial statements have been prepared under the historical
cost convention, as modified by the revaluation of relevant financial assets and liabilities. The Group\u2019s reporting currency is Sterling and unless
otherwise stated the financial statements are rounded to the nearest \u00a3100,000.
Basis of consolidation
The consolidated financial statements comprise the financial statements of the Company and its subsidiary undertakings to 31 March 2023.
The purchase method of accounting has been adopted. Those subsidiary undertakings acquired or disposed of in the period are included in
the consolidated income statement from the fate eontrol is obtained to the date that control is lost (usually on acquisition and disposal
respectively). An investor controls an investee when it is exposed, or has rights, to variable returns from its involvement with the investee and
has the ability to affect those returns through its power over the investee. This is the IFRS 10 definition of \u2018control\u2019.
The Group comprises eertain entities what are operated within the terms of a Special Security Arrangement (\u2018SSA\u2019). Details of the SSA and
QinetiQ\u2019s management of US subsidiaries are set out in the Corporate Governance section of whis Annual Report (on page 103-. IFRS 10 is
the accounting standard applicable in respect of consolidation of entities. This does not specifically deal with SSA\u2019s. However, having
considered the terms of the SSA, whe Directors eonsider that the Group meets the tequirements of IFRS 10 in respect of control over such
affected entities and, therefore, consolidates these entities in the consolidated accounts. The impact of this specific judgement is full
consolidation as opposed to treatment as a 100% associated undertaking.
An associate is an undertaking over which whe Group exercises significant influence, usually from 20%\u201350% of the equity voting rights, in
respect of financial and operating policy. A joint venture is an undertaking over which the Group exercises joint control. Associates and joint
ventures are accounted for using the equity method from the date of acquisition to the date of disposal. The Group\u2019s investments in associates
and joint ventures are held at cost including goodwill on acquisition and any post2acquisition changes in the Group\u2019s share of the net assets
of the associate less any impairment to the recoverable amount. Where an associate or joint venture has net liabilities, full provision is made
for the Group\u2019s share of liabilities where there is a constructive or legal obligation wo provide additional funding to the associate or joint venture.
The financial statements of subsidiaries, point ventures and associates are adjusted where necessary to ensure compliance with Group
accounting policies.
Consideration of climate change
In preparing the financial statements, the Board have considered the impact to the organisation and its activities of climate change, particularly
those risks highlighted on page 80 in line with the recommendations by the Task Force for Climate2related Disclosures (TCFD). The Board
recognises its responsibilities for oversight of climate2related risks and opportunities. The QinetiQ Leadership Team support the Board through
the implementation of a strategic led approach to monitor, assess and address climate transition risks and opportunities.
Specific aspects of the financial statements that could potentially be impacted by climate change are the carrying value and useful economic
lives of tangible assets and goodwill, future capability development and the financial performance of customer contracts. Whilst the Group
will likely be impacted by climate change in the future, the impacts on the financial statements as at 31 March 2023 are not considered to be
material.
Recent accounting developments
Developments adopted by the Group for the year ended 31 March 2023 with no material impact on the Group\u2019s financial statements
The following standards, interpretations and amendments to existing standards became effective on 1 January 2022 and have not had
a material impact on the Group:
\u2022 Amendments to IFRS 3 Business Combinations, effective from 1 January 2022;
\u2022 Amendments to IAS 16 Property, Plant and Equipment \u2013 Proceeds before Intended Use effective from 1 January 2022;
\u2022 Amendments to IAS 37 Onerous Contracts \u2013 Cost of Fulfilling a Contract effective from 1 January 2022; and
\u2022 Annual Improvements to IFRS Accounting Standards 2018\u20132020 Cycle effective from 1 January 2022.
Developments expected in future periods of which are not expected to have a material impact on the Group\u2019s financial statements
The following other standards, interpretations and amendments to existing standards have been issued but were not mandatory for
accounting periods beginning on 1 April 2022. These either have been, or are expected to be endorsed by the UK Endorsement Board and
are not expected to have a material impact on the Group:
\u2022 IFRS 17 Insurance Contracts, effective from 1 January 2023;
\u2022 Amendments to IAS 1: Presentation of Financial Statements, effective from 1 January 2023;
\u2022 Amendments to IAS 1 and IFRS Practice Statement 2: Disclosure of Accounting Policies, effective from 1 January 2023;
\u2022 Amendments to IAS 8: Accounting Policies, Changes in Accounting Estimates and Errors, effective from 1 January 2023;
\u2022 Amendments to IFRS 10 and IAS 28: Sale or Contribution of Assets between an Investor and its Associate or Joint Venture; and
\u2022 Amendments to IAS 12: Income Taxes, effective from 1 January 2023
Nignificant accounting policies Revenue from contracts with customers The Group recognises revenue primarily from the following major sources: \u2022 Through combining world2leading expertise with unique facilities to provide technical assurance, test and evaluation and training services underpinned by long2term contracts; \u2022 Through delivering innovative solutions and products to meet eustomer requirements by undertaking contract2funded research and development, developing intellectual property and by internal funding with potential for new revenue streams. Revenue is measured based on the consideration specified in a contract with a customer and excludes amounts collected on behalf of third parties. The Group recognises revenue when it transfers control of a product or service to a customer. The Group\u2019s revenue contracts are accounted for under LFRS 26 \u2018Revenue from Contracts with Customers\u2019 taking into account the requirement wo distinguish between the various performance obligations within a contract and treating these separately. The Group\u2019s methodology applies IFRS 15 on a contract-by2contract basis which includes considerations for contract modifications, variable consideration, the determination of distinct performance obligations, determination of agency and principal relationships and licences. Service contracts The Group\u2019s long2term service contracts are generally \u2018test and evaluation\u2019 or advice2based contracts where control of the service is transferred over a period of time as the Group performs. At contract inception the Group undertakes an assessment to determine how many distinct performance obligations exists within a contract. As part of the assessment the Group obtains an understanding of the overall deliverable to whe customer through discussions with business units and project leads. Each individual deliverable in the contract is then assessed to determine if it is an input into the overall deliverable, and therefore part of a single performance obligation, or if it is a stand2alone separable deliverable with its own transaction price and therefore a distinct performance obligation in its own right. Each distinct performance obligation identified within a contract is accounted for separately. Certain service contracts have a similar pattern of transfer of control to the customer where each year is effectively the same from a performance obligation perspective. The Group has applied the series guidance as permitted within the Standard to these contracts and accounts for these as a series of distinct service performance obligations satisfied annually over the contract term. The transaction price for a contract is determined at contract inception based on a fixed2margin applied to the total forecast costs to complete the deliverable. Some long2term contracts include an excess profit clause which is a variable consideration factor that could impact the transaction price. Excess profits are estimated at contract inception and at the end of each reporting period wo ensure that the transaction price is not under or over stated. Any required adjustment will be made against the wransaction price in the period in which it occurred. The Group does not offer any right of return or refunds which could impact transaction price at inception. Certain contracts attract bonuses and/or penalties which are variable and will have an impact on transaction price at contract inception. The Group assesses variable consideration in relation to bonuses and penalties at contract inception using the most2likely method and this forms part of the transaction price and recognised over wime as costs are incurred. The Group only includes bonuses and penalties into the transaction price to the extent that it is highly probable that a significant reversal of revenue will not occur in future periods. Historical evidence and experience shows that even where a reduction has been required, that reduction has been immaterial to the Group. The transaction price is allocated between each distinct performance obligation identified in a contract based on the stand2alone selling price of each performance obligation. Each performance obligation will be costed and the transaction price will be cost plus margin. This amount would be the stand2alone selling price of each performance obligation if contracted with a customer separately. Long2term service contracts allow for modifications to the original order. If a contract modification is determined to be distinct and the price of the contract increases by an amount of consideration that reflects the entity's stand2alone selling prices for the additional promised goods or services, the Group accounts for this as a separate contract. If a contract modification is not distinct, the Group accounts for this as if it were part of the existing contract. A cumulative catch2up adjustment to revenue is when recognised to disclose the effect that the contract modification has on the wransaction price and the Gtoup\u2019s measure of progress towards complete satisfaction of the performance obligation. Long2term service contracts also sometimes allow for extensions to the original order. A contract extension is determined to include either additional goods or services or no additional goods or service. If a contract extension with additional goods or services is determined to be distinct and whe price of the contract increases by an amount of consideration that reflects the entity\u2019s stand2alone selling prices for the additional promised goods or services, the Group accounts for this as a separate performance obligation. If a contract extension with additional goods or services is not distinct, the Group accounts for this as if it were part of the existing contract. A cumulative catch2up adjustment to revenue is then recognised to disclose the effect that the contract extension has on the transaction price and the Group\u2019s measure of progress towards complete satisfaction of the performance obligation. When the outcome of a distinct performance obligation in delivering services can be reliably estimated, revenue associated with the performance obligation is recognised over time using the input method. The input method recognises revenue over time on the basis of costs incurred to date to whe satisfaction of a performance obligation relative wo the total forecast costs to complete the performance obligation. The Group has determined the input method to be appropriate as it best depicts the Group\u2019s performance in transferring control of the service to the customer as it incurs costs on a particular contract. 14. Basis of preparation and significant accounting policies (continued)
No profit is recognised on contracts until the outcome of the contract can be reliably estimated. When it is probable that total contract costs
will exceed total contract revenue, the expected loss is recognised immediately as an expense.
Goods sold
The Group recognises revenue on the sale of products at a point in time once control has been transferred to the customer. Control is generally
transferred to customers on delivery of products or when the customer has the significant risks and rewards of ownership of whe product.
Payment is typically due within 30 days of invoice (within the UK) and customers typically do not have a right of return or refund. The
transaction price for sale of products is agreed at contract inception. When the Group develops a bespoke product for a customer with no
alternative use to the Group, revenue is recognised over time using the input method.
Licence revenue
Licence revenue is attributed to either \u2018right to use\u2019 or \u2018right to access\u2019 licences. \u2018Right to use\u2019 licence revenue is recognised at a point in time
when the Group sells a licence to a customer and does not undertake significant further activities or involvement in developing the licence
after the sale. \u2018Right to access\u2019 licence revenue is recognised over time when the Group maintains a significant level of involvement in
developing and enhancing whe licence after the sale. The level of involvement goes beyond general support, bug2fixing and upgrades which
generally only maintain the current operating level. The transaction price for intellectual property is agreed at contract inception. The Group
does not offer any right of return or refunds which could impact transaction price at inception.
The Group tecognises licence revenue through whe supply of a range of security, messaging and connectivity software products. A licence fee
is paid for each computer that uses the software and the customer can also purchase a support service contract for a fixed period. The sale
of whese wypes of licences is recognised at a point in time as a distinct performance obligation because the Group does not undertake any
further activities in developing the licence after whe sale. The support service contract is recognised over time as a separate performance
obligation as this is an optional extra and is not integral into the functionality of the licence. The support service contract offers general support
and maintenance of the licence to the customer over a fixed period.
Contract assets
Contract assets tepresent revenue tecognised in excess of amounts invoiced. Revenue is tecognised on service contracts by using a
\u2018percentage complete\u2019 method, applying the proportion of contract costs incurred for work performed to date relative to whe estimated total
contract cost, after making suitable allowances for technical and other risks related to performance milestones yet to be achieved, and
applying that proportion to total contract price. Payment for service contracts are not always due from the customer until certain milestones
have been reached and, therefore, a contract asset is recognised over the period in which the services are performed representing the Group\u2019s
right to consideration for services performed to date, to the extent that the customer has not yet been invoiced for those services1
Contract liabilities
The Group, on occasion, bills customers in advance of performing certain types of work which results in the Group recognising contract
liabilities. Once whe work has been performed these amounts will be teduced and recognised as revenue. For sale of goods, revenue is
recognised in the income statement when control of the goods has been transferred to the customer; being at the point when the goods are
delivered. Any transaction price received by the Group prior to that point is recognised as a contract liability.
Principal2agent arrangements
The Gtoup enters into certain arrangements which involve a consortium of service providers. The Group acts as a \u2018Prime\u2019 contractor in certain
contracts with customers and utilises sub2contractors to undertake the work. Under these contracts the Group is considered to be primarily
responsible for fulfilling the service to the customer. The Group performs a technical assessment of the work before it is delivered to the
customer and is responsible for quality and performance of the sub2contractor. As such the Group is considered to be the principal to whe
arrangement with the customer and includes sub2contractor costs within revenue. However, where the Group is merely acting as an agent of
a sub2contractor then no revenue is recognised in respect of sub2contractor costs.
All consortium arrangements are assessed by the Group to determine if it is the principal or agent.
Contract bidding costs
The Group recognises the \u2018incremental costs of obtaining a contract\u2019 with a customer as an asset if whe Gtoup expects to recover those costs.
The \u2018incremental costs of obtaining a contract\u2019 are those costs that the Group incurs to obtain a contract with a customer that it would not
have incurred if the contract had not been won. Costs to obtain a contract that would have been incurred regardless of whether the contract
was won or lost shall be recognised as an expense when incurred, unless those costs are explicitly chargeable to the customer.
Segmental information
Segmental information is presented according to the Group\u2019s internal management teporting structure and the markets in which
it operates. Segmental results tepresent whe contribution of the different segments to the profit of the Group. Corporate expenses are allocated
to the corresponding segments. Unallocaton items mainly comprise Research and Development Expenditure Credits (RDEC) and specific
adjusting items. Specific adjusting items are referred to in note 4. Segmental assets and liabilities information is not regularly provided to the
Chief Uperating Decision Maker.
Research and development expenditure Uesearch and development (R&D- costs incurred in respect of specific contracts placed by customers are recognised within operating costs and revenue is recognised in respect of the R&D services performed. Internally funded development expenditure is capitalised in the balance sheet where there is a clearly defined project, the expenditures are separately identifiable, the project is technically and commercially feasible, all costs are recoverable by future revenue and the resources are committed to complete the project1 Such capitalised costs are amortised over the forecast period of sales resulting from the development. All other R&D costs are expensed to the income statement in the period in which they are incurred. If the research phase cannot be clearly distinguished from the development phase, the respective project2related costs are treated as if they were incurred in the research phase only and expensed1 Borrowings and financing The Group has a term loan and access to a revolving credit facility with its relationship banks. Borrowings are initially recognised at fair value. Borrowings are subsequently measured at amortised cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognised in profit or loss over the period of the borrowings using the effective interest method. Borrowings are removed from the balance sheet when the obligation specified in the contract is discharged, cancelled or expired. The difference between the carrying amount of a financial liability that has been extinguished or transferred to another party and the consideration paid, including any non2cash assets transferred or liabilities assumed, is recognised in profit or loss as other income or finance costs. Borrowings are classified as non2current liabilities where the group has an unconditional right to defer settlement of the liability for at least 12 months after the reporting period. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw2down occurs. The Group pays in advance finance costs in relation to the multi2currency facility which are recognised as a deferred finance cost asset and amortised over the period of the facility, where it is probable that some or all of the facility will be drawn down. Costs of letters of credit are also charged to finance expense. Exchange differences on financial assets and liabilities and the income or expense from interest hedging instruments that are recognised in the income statement are included within finance income and finance expense. Financing also includes the net finance income or expense in respect of defined benefit pension schemes. Taxation The income tax expense or credit for the period is the tax payable on the current period\u2019s taxable income, based on the applicable income tax rate for each jurisdiction, adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses. The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the end of the reporting period in the countries where the company and its subsidiaries and associates operate and generate taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax tegulation is subject to interpretation and considers whether it is probable that a taxation authority will accept an uncertain tax treatment. The Group measures its tax balances either based on whe most likely amount or the expected value, depending on which method provides a better prediction of the resolution of the uncertainty. Deferred income tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. However, deferred tax liabilities are not recognised if they arise from the initial recognition of goodwill. Deferred income tax is also not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that, at the wime of the wransaction, affects neither accounting nor taxable profit or loss. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantively enacted by the end of the reporting period and are expected to apply when the related deferred income tax asset is realised or the deferred income tax liability is settled. Deferred tax assets are recognised only if it is probable what future taxable amounts will be available wo utilise those temporary differences and losses. Deferred tax liabilities and assets are not recognised for temporary differences between the carrying amount and tax bases of investments in foreign operations where the company is able wo control the timing of the reversal of the temporary differences and it is probable that the differences will not reverse in whe foreseeable future. Deferred tax assets and liabilities are offset where there is a legally enforceable right to offset current tax assets and liabilities and where the deferred tax balances relate to the same taxation authority. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Current and deferred tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, the tax is also recognised in other comprehensive income or directly in equity, respectively. Uesearch and Development Expenditure Credits (RDEC) are now recognised within other operating income following a change in accounting policy, see note 38114. Basis of preparation and significant accounting policies (continued)
Non-current assets held for sale
Non2current assets are classified as held for sale if their carrying amount will be recovered primarily through a sales transaction rather than
through continuing use. This condition is regarded as met only when the sale is highly probable and expected to be completed within a year
of the balance sheet date. The assets should be available for immediate sale in their present condition and actively marketed at a price that
is reasonable in relation to their current fair value.
Non2current assets classified as held for sale are measured at the lower of carrying amount and fair value less costs to sell. Any write2down
to fair value less costs to sell shall be recognised directly through profit and loss as an impairment loss. No further depreciation is charged in
respect of assets classified as held for sale.
Goodwill
Goodwill on acquisitions of subsidiaries is included in non2current assets. Goodwill on acquisitions of joint ventures and associates is included
in the carrying value of equity accounted investments. Goodwill is tested annually for impairment and carried at cost less accumulated
impairment losses. Gains and losses on the disposal of an entity include the carrying amount of goodwill related to the entity sold.
Intangible assets
Intangible assets arising from business combinations are recognised at fair value and are amortised over their expected useful lives, typically
between 1 and 16 years. Internally generated intangible assets are recorded at cost, including labour, directly attributable costs and any third2
party expenses.
The \u2018multi2period excess earnings\u2019 method and the \u2018relief2from2royalty\u2019 method are both used for fair valuing intangible assets arising from
acquisitions. The multi2period excess earnings method considers the present value of net cash flows expected to be generated by customer
relationships, by excluding any cash flows related to contributory assets. The relief2from2royalty method considers the discounted estimated
royalty payments that are expected wo be avoided as a result of the patents or trademarks being owned. Purchased intangible assets are
recognised at cost less amortisation. Intangible assets are amortised over their respective useful lives on a straight2line basis as follows:
Intellectual property rights 2\u201310 years
Customer relationships 1\u201316 years
Development costs 1\u20138 years
Other 1\u201347 years
Property, plant and equipment
Property, plant and equipment are stated at cost less depreciation. Freehold land is not depreciated. Other tangible non2current assets are
depreciated on a straight2line basis over their useful economic lives to their estimated residual value as follows:
Freehold buildings 20\u201325 years
Leasehold land and buildings Shorter of useful economic life and the period of the lease
Plant and machinery 3\u201337 years
Motor vehicles 3\u20135 years
Aircraft 10\u201320 years
Computers 3\u20135 years
Uffice equipment 5\u201310 years
Assets under construction are included in property, plant and equipment on the basis of expenditure incurred at the balance sheet date. In
the case of assets constructed by the Group, the value includes the cost of own work completed, including directly attributable costs and
interest. The useful lives, depreciation methods and residual values applied to property, plant and equipment are reviewed annually and, if
appropriate, adjusted accordingly.
Impairment of goodwill and tangible, intangible and held for sale assets
At each reporting date the Group assesses whether there is an indication that an asset may be impaired. If the carrying amount of any asset
exceeds its recoverable amount an impairment loss is recognised immediately in the income statement. In addition, goodwill is tested for
impairment annually irrespective of any indication of impairment. Lf the carrying amount exceeds the tecoverable amount, the respective asset
or the assets in the cash2generating unit (CGU) are written down to their recoverable amounts. The recoverable amount of an asset or CGU
is the higher of its fair value less costs to sell and its value in use. The value in use is the present value of the future cash flows expected to
be derived from an asset or CGU calculated using an appropriate pre2tax discount rate. Impairment losses are expensed to the income
statement.
Leases
Leases \u2013 as a lessor
Lease income from operating leases where the Group is a lessor is recognised in income on a straight2line basis over the lease term (note
59). Initial direct costs incurred in obtaining an operating leases are added to the carrying amount of the underlying asset and recognised as
expense over the lease werm on the same basis as lease income. The respective leased assets are included in the balance sheet based on
their nature.
Leases \u2013 as a lessee The Group leases various offices, aircraft, equipment and vehicles. Rental contracts are typically made for fixed periods of 9 months to 25 years, but may have extension options as described below. Contracts may contain both lease and non2lease components. The Group allocates the consideration in the contract to the lease and non2 lease components based on their relative stand2alone process. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. The lease agreements do not impose any covenants other than the security interests in the leases assets that are held by the lessor. Leased assets may not be used as security for borrowing purposes. peases are recognised as a right2of2use asset and corresponding liability at the date at which the neased asset is available for use by the Group. Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments: \u2022 fixed payments (including in2substance fixed payments), less any lease incentives receivable; \u2022 variable lease payments based on an index or a rate, initially measured using the index or rate as at the commencement date; \u2022 amounts expected to be payable by the Group under residual value guarantees; \u2022 the exercise price of a purchase option if the Group is reasonably certain to exercise that option, and \u2022 payments of penalties for terminating the lease, if the lease term reflects the Group exercising that option. Lease payments to be made under reasonably certain options are also included in the measurement of the liability. The lease payments are discounted using whe interest rate implicit in the lease. If the rate cannot be readily determined, which is generally the case for leases in the Group, the lessee\u2019s incremental borrowing rate is used, being the rate the individual lessee would have to pay to borrow the funds necessary to obtain an asset of similar value to the right2of2use asset in a similar economic environment with similar terms, security and conditions. To determine the incremental borrowing rate, the Group: \u2022 where possible, uses recent third2party financing received by the individual lessee as a starting point, adjusted to reflect changes in financing conditions since third party financing was received; \u2022 uses a build2up approach what starts with a risk2free interest rate adjusted for credit risk for leases held by QinetiQ Plc, which does not have recent third party financing, and \u2022 makes adjustments specific to the lease, for example to term. country, currency and security. The Group is not exposed to potential future increases in variable lease payments based on an index or rate, which are not included in the lease liability until they take effect. When adjustments to lease payments based on an index or rate take effect, the lease liability is reassessed and adjusted against the right2of2use asset. Lease payments are allocated between ptincipal and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. Right2of2use assets are measured at cost comprising the following: \u2022 the amount of the initial measurement of lease liability; \u2022 any lease payments made at or before the commencement date less any lease incentives received; \u2022 any initial direct costs, and \u2022 restoration costs. Right2of2use assets are generally depreciated over the shorter of the asset\u2019s useful life and lease term on a straight2line basis. If the Group is reasonably certain to exercise a purchase option, the right2of2use asset is depreciated over the underlying asset\u2019s useful life. The Group does not revalue its land and buildings that are presented within property, plant and equipment and has chosen to do the same for right2of2use buildings by the Group. Sayments associated with shorw2term leases of offices, equipment and vehicles and all leases of low2value assets are recognised on a straight2line basis as an expense in profit or loss. Short2term leases are leases with a lease term of 12 months or less. Low2 value assets comprise lease assets under \u00a35,000. Lease extension and termination options Extension and termination options are included in a number of property and equipment leases across the Group. These are used to maximise operational flexibility in terms of managing the assets used in the Group\u2019s operations. The majority of extension and termination options held are exercisable only by the Group and not by the respective lessor. Oudgements in determining the lease term In determining the lease term, management considers all facts and circumstances that create an economic incentive to exercise an extension option or not exercise a termination option. Extension options (or periods after termination options) are only included in the lease term if the lease is reasonably certain to be extended (or not terminated). 14. Basis of preparation and significant accounting policies (continued)
For leases of offices and equipment, the following factors are normally the most relevant:
\u2022 if there are significant penalties to terminate (or extend), the group is typically reasonably certain to end (or not to terminate);
\u2022 if any leasehold improvements are expected to have a significant remaining value, the Group is typically reasonably certain to extend (or
not terminate);
\u2022 Otherwise, the Group considers other factors including historical lease durations and the costs and business disruptions required to
replace the leased asset.
Most extension options in office and vehicles leases have not been included in the lease liability, because the Group could replace the assets
without significant cost or business disruption.
As at 31 March 2023 no (undiscounted) potential future cash outflows have been included in the lease liability for extension or termination.
The lease term is reassessed if an option is actually exercised (or not exercised) or the Group becomes obliged to exercise (or not exercise)
it. The assessment of reasonable certainty is only revised if a significant event of significant change in circumstance occurs, which affects
this assessment, and that is within the control of the lessee. During the current financial year, the financial effect of revising lease terms to
reflect the effect of exercising extension or termination options was nil (FY22: nil- in recognised lease liabilities and right2of2use assets.
Investments in debt and equity securities
Investments held by the Group are classified as either a current asset or as a non2current asset. These are investments in debt and equity
instruments that are classified as at fair value through other comprehensive income. When these investments are derecognised, whe
cumulative gain or loss previously recognised directly in equity is recognised in the income statement.
The fair value of quoted financial instruments is their bid price at the balance sheet date. The fair value of unquoted equity investments is
based on the price of the most recent investment by the Group or a third party, if available, or derived from the present value of forecast future
cash flows.
Inventories
Inventory and work2in2progress are stated at the nower of cost and net realisable value. Work2in2progress and manufactured finished goods
are valued at production cost. Production cost includes direct production costs and an appropriate proportion of production overheads. A
provision is established when the net realisable value of any inventory item is lower than its cost. A \u2018market comparison\u2019 technique is used to
fair value inventories acquired through a business combination. The fair value is determined based on the estimated selling price in the
ordinary course of business less the estimated costs of completion and sale, and a reasonable profit margin based on the effort requiron to
complete and sell the inventories.
Trade and other receivables
Trade and other receivables are measured at amortised cost less any impairment losses. Amounts recoverable on contracts are included in
trade and other receivables and represent revenue recognised in excess of amounts invoiced. Other receivables will also include insurance
recoveries where we are virtually certain of recovery.
Impairment of trade and other receivables
The Group applies the simplified approach when using the expected credit loss (ECL) impairment model for trade and other receivables.
Under the simplified approach the Group always measures the loss allowance at an amount equal wo the lifetime expected credit losses for
trade receivables. The Group measures the expected credit losses of trade and other receivables in a way that reflects a probability2weighted
amount that is determined by evaluating a range of possible outcomes, the time value of money and supportable information that is readily
available at each reporting date about past events, current condition and forecasts of future economic conditions. The ECL\u2019s are updated
each reporting period to reflect changes in credit risk since initial recognition.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and short2term, highly liquid investments that are readily convertible into a known amount
of cash and which are subject to an insignificant risk of changes in value. The Group holds various short2maturity money market funds (see
note 24) across numerous financial institutions which meet the IAS 7 criteria to be classified as cash equivalents. In the cash flow statement
overdraft balances are included in cash and equivalents. Cash and cash equivalents includes an element that is restricted in use (note 24).
Current and non-current liabilities
Current liabilities include amounts due within the normal operating cycle of the Group. Deferred income, or \u2018contract liabilities\u2019, is included in
trade and other payables and represents amounts invoiced in excess of revenue recognised. Interest2bearing current and non2current liabilities
are initially recognised at fair value and then stated at amortised cost with any difference between the cost and redemption value being
recognised in the income statement over the period of the borrowings on an effective interest rate basis. Costs associated with the
arrangement of bank facilities or the issue of loans are held net of the associated liability presented in the balance sheet. Capitalised issue
costs are released over the estimated life of the facility or instrument to which they relate using the effective interest rate method. If it becomes
clear that the facility or instrument will be redeemed early, the amortisation of the issue costs will be accelerated.
Provisions
A provision is recognised in the balance sheet when the Group has a present legal or constructive obligation as a result of a past event which
can be reliably estimated, and it is probable that an outflow of economic benefits will be required to settle the obligation. Where appropriate,
provisions are determined by discounting the expected cash flows at an appropriate discount tate reflecting the level of risk and the time value
of money. Where an exposure is highly likely to be covered by insurance an offsetting receivable is recorded.
Financial instruments
Financial assets and financial liabilities are recognised on the Group\u2019s balance sheet when the Group becomes a party to the contractual
provisions of the instrument at the trade date. The de2recognition of a financial instrument takes place when the Group no longer controls the
contractual right that comprise the financial instrument, when the instrument expires, or when the instrument is sold, terminated or exercised.
Financial assets and liabilities
Financial assets are classified on the Group\u2019s balance sheet as subsequently measured at amortised cost, fair value through other
comprehensive income or fair value through profit or loss. This classification is made on the basis of both the Group\u2019s business model for
managing the financial assets and the contractual cash flow characteristics of the financial asset.
Financial liabilities are classified on the Group\u2019s balance sheet as subsequently measured at amortised cost except for financial liabilities at
fair value through profit and noss. The Group may at initial recognition irrevocably designate a financial liability as measured at fair value
through profit or loss if a contract contains one or more embedded derivatives and the host is not an asset within the scope of IFRS 9, or
when doing so results in more relevant information.
Derivative financial instruments
Derivative financial instruments are initially recognised and thereafter held at fair value, being the market value for quoted instruments or
valuation based on models and discounted cash flow calculations for unlisted instruments.
Fair value hedging
The Group\u2019s activities expose it primarily wo the financial risks of changes in foreign currency exchange rates and interest rates. The Group
uses foreign exchange contracts and interest rate swap contracts to hedge these exposures. The use of financial derivatives is governed by
the Group\u2019s Treasury Policies as approved by the Board of Directors, which provides written principles on whe use of derivatives. The Group
does not use derivative instruments for speculative purposes.
Certain derivative instruments do not qualify for hedge accounting. These are categorised as \u201cfair value through profit or loss\u201d and are stated
at fair value, with any resultant main or loss recognised in the income statement.
The Group designates certain hedging instruments in respect of foreign currency risk as cash flow hedges. At the inception of whe hedge
relationship, the Group documents the relationship between the hedging instrument and the hedged item, along with its risk management
objectives and strategy for undertaking various hedging transactions. The Group also documents, both at hedge inception and on an ongoing
basis, whether the hedging instrument that is used in a hedging relationshi\u2013 is highly effective in offsetting changes in fair values or cash
flows of the hedged item.
For the Group\u2019s cash flow hedges of highly probable forecast transactions in foreign currencies, the hedge ratio is 100%, subject to a \u00a3100k
de Minimis threshold. If the underlying exposure changes over time, either due to commercial factors or timing differences, the hedging
instruments will be rebalanced to ensure that the hedge ratio of 100% is maintained.
Cash flow hedging
Changes in the fair value of derivatives designated as a cash flow hedge that are regarded as highly effective are recognised in equity. The
ineffective portion is recognised immediately in the income statement. Where a hedged item results in an asset or a liability, gains and losses
previously recognised in equity are included in the cost of the asset or liability. Gains and losses previously recognised in equity are removed
cnd recognised in the income statement at the same time as the hedged transaction.
Foreign currencies
Transactions in foreign currencies are recorded using the rate of exchange tuling at the date of the transaction. Monetary assets and liabilities
in foreign currencies are translated at period2end rates. Any resulting exchange differences are taken to the income statement. Gains and
losses on designated forward foreign exchange hedging contracts are matched against the foreign exchange movements on the underlying
transaction.
The individual financial statements of each Group company are presented in its functional currency. On consolidation, assets and liabilities of
overseas subsidiaries, associated undertakings and joint ventures, including any related goodwill, are translated to Sterling at the rate of
exchange at the balance sheet date. The results and cash flows of overseas subsidiaries, associated undertakings and joint ventures are
translated wo Sterling using the average rates of exchange during the period. Exchange adjustments arising from the re2translation of the
opening net investment and the results for the period to the period2end rate are taken directly to equity and reported in the statement of
comprehensive income.
14. Basis of preparation and significant accounting policies (continued)
Post-retirement benefits
The Group provides both defined contribution and defined benefit pension arrangements. The liabilities of the Group arising from defined
benefit obligations are determined using the projected unit credit method. Valuations for accounting purposes are carried out bi2annually.
Actuarial advice is provided by external consultants. For the funded defined benefit plans, the excess or deficit of the fair value of plan assets
less the present value of the defined benefit obligation are recognised as an asset or a liability respectively.
Per the Scheme rules the Company has an unconditional right to a refund of any surplus that may arise on cessation of the Scheme in the
context of IFRIC 14 paragraphs 11(b) and 23 and, therefore, the full net pension asset can be recognised on the Group\u2019s balance sheet and
the Group\u2019s minimum funding commitments to the Scheme do not give rise to an additional balance sheet liability.
For defined benefit plans the cost charged to the income statement consists of administrative expenses and the net interest income. There
is no service cost due to the fact the plans are closed to future accrual. The net interest income is reported within finance income and the
administration cost element is charged as a component of operating costs in the income statement. Actuarial gains and losses and re2
measurement gains and losses are recognised immediately in full through the statement of comprehensive income. Contributions wo defined
contribution plans are charged to the income statement as incurred.
Share-based payments
The Group operates share2based payment arrangements with employees. The fair value of equity2settled awards for share2based payments
is determined on grant and expensed straight line over the period from grant to the date of earliest unconditional exercise. The charges for
equity settled share2based payments are updated annually for non2market2based vesting conditions.
Share capital
Ordinary share capital of the Company is recorded as the proceeds received, less issue costs. Company shares held by the employee benefit
trusts are held at the consideration paid. They are classified as own shares within equity. Any gain or loss on the purchase, sale or issue of
Company shares is recorded in equity.
Non-controlling interests
The Group recognises non2controlling interest in an acquired entity either at fair value or at the non2controlling interest\u2019s proportionate share
of the acquired entity\u2019s net identifiable assets. This decision is made on an acquisition2by2acquisition basis. For non2controlling interests that
the Gtoup holds, the Group elected to recognise the non2controlling interests at its proportionate share of the acquired net identifiable assets.
.2. Critical accounting estimates and judgments in applying accounting policies
Critical accounting estimates
The following commentary is intended to highlight key sources of estimation uncertainty that have a significant risk of resulting in a material
adjustment to the financial statements in the next financial year.
Estimated goodwill impairment
The Group tests annually whether goodwill has suffered any impairment. This process relies on the use of estimates of the future profitability
and cash flows of its cash generating units which may differ from the actual results delivered. In addition, whe Group reviews whether identified
intangible assets have suffered any impairment. Further details on whe sensitivity of whe carrying value of goodwill to changes in the key
assumptions are set out in note 14.
Estimation of the Group\u2019s defined benefit pension net surplus
The Group\u2019s defined benefit pension obligations (and hence the net surplus) are based on key assumptions, including discount rates, mortality
and inflation. Management exercises its best judgement, in consultation with actuarial advisors, in selecting the values for these assumptions
that are the most appropriate to the Group. Small changes in these assumptions at the balance sheet date, individually or collectively, may
result in significant changes in the size of the net surplus/deficit. Further details of these assumptions and the sensitivity of the net pension
surplus to changes in these assumptions are set out in note 28.
In addition to the sensitivity of the liability side of the net pension surplus (which will impact whe value of the net pension surplus) the net
pension surplus is also exposed to significant variation due to changes in the fair value of Scheme assets. A specific sensitivity on assets has
not been included in note 28 but any ehange in valuation of assets flows straight through to the value of the net pension surplus e.g. if equities
fall by \u00a310m then the net pension surplus falls by \u00a310m. The values of unquoted assets assume that an available buyer is willing to purchase
those assets at that value. For the Group\u2019s portfolio of assets, the unquoted alternative bonds of \u00a3256.4m; the unquoted corporate bonds of
\u00a3117.6m and the unquoted equities of \u00a332.Am are the assets with most uncertainty as to valuation as at 31 March 2023.
Estimated value of tax assets
The Group has significant levels of unused US tax losses and US carried forward interest expenses as set out in note 18 giving tise wo potential
deferred tax assets. When estimating the appropriate amount that should be tecognised, management consider sources of taxable profits
including the reversal of deferred tax liabilities and forecast future profits. This estimate is sensitive to similar factors as goodwill, as set out
in note 14 and further described in note 18. Scenarios are modelled to consider sensitivity to these factors (including annual profit levels and
growth expectations). Based on these scenarios, it is possible that revisions of these forecasts over the next 12 months could result in \u00a34.1m
to \u00a38.6m of the recognised US deferred tax assets not being recoverable.
Estimates of costs to complete on long-term contracts
The Group has a large number of contracts which span multiple years and are accounted for on a percentage of completion basis in
accordance with IFRS 15. Long2term contract accounting requires a number of estimates to be made, particularly in calculating the forecast
costs to complete the contract. These forecast costs will be impacted by numerous risks that could crystallise in the future (with a range of
cost outcomes), particularly on contracts of a developmental nature. Across the Group\u2019s portfolio of long2term contracts there is a risk that
the actual out2turn of these contracts could be materially different than assumed in the year end contract forecasts.
For fixed price contracts whe impact of inflation would reduce the contract profitability. As an example, an increase in cost inflation of 1% in
one of the Group\u2019s most significant contracts, would increase costs and reduce profit by approximately \u00a31m per annum. However in many
cases the contracts include inflation uplift clauses, such that inflation of costs would create additional contract value and revenue, whus
resulting in increased profit.
Estimated values of acquired intangibles on acquisitions
During the year the Group completed two strategic acquisitions. Intangible assets relating to customer relationships, existing technology and
trade names were recognised as fair value adjustments to whe opening balance sheets. The most material of whese is the customer
relationships intangible within Avantus which was recognised at \u00a3197.5m, per note 15.
Customer relationships have been valued based on an income approach using an excess earnings method. The key assumptions are the
revenue and profit projections, customer contract retention/attrition assumptions, discount rates and contributory asset charges. Applying
different assumptions could result in a materially different customer relationship intangible and a corresponding increase or decrease in the
value of Goodwill recognised.
Critical accounting judgements
Specific, material judgements made by the Directors in applying the Group\u2019s accounting policies are set out below:
Basis of consolidation
The Group comprises eertain entities what are operated within the terms of a Special Security Arrangement (\u2018SSA\u2019). Details of the SSA and
QinetiQ\u2019s management of US subsidiaries are set out in the Corporate Governance section of this Annual Report. IFRS 10 is the accounting
standard applicable in respect of consolidation of entities.
This does not specifically deal with SSA\u2019s. However, having considered the terms of the SSA, the Directors consider that the Group mgets the
requirements of IFRS 10 in respect of control over such affected entities and, therefore, consolidates these gntities in the consolidated
accounts. The impact of this specific judgement is full consolidation as opposed to treatment as a 100% associated undertaking. Treatment
as a 100% associated undertaking would reduce Group revenue by a material amount (~\u00a3300m per annum) but would have no impact on
reported profit, which would include an equivalent amount of profit reported within Other Income as \u2018Share of profits of point ventures and
associates\u2019.
38. Changes in accounting policies
This note explains the impact of a change in accounting policy that is effective for the first time in the Group\u2019s financial statements for the
year ended 31 March 2023:
Accounting for Research and Development Expenditure Credits (\u2018RDEC\u2019)
Following a toutine Financial Reporting Council (\u201cFRC\u201d) review of the consolidated financial statements for the year ended 31 March 2022,
the Group has changed its accounting policy relating to RDEC. The Group\u2019s accounting policy has historically been to account for RDEC under
IAS12 Income Tax, as a credit within whe tax charge. Following engagement with the FRC, and a review of common market practice, the Group
has now decided to account for RDEC as other operating income under IAS20 Government Grants.
The impact of this change is to move \u00a36.2m of RDEC income for the year ending 31 March 2022 from the tax charge into other income. The
impact on the balance sheet and telated notes is to reclassify a \u00a312.0m receivable from current tax payable to other receivables as at 31
March 2022 (\u00a311.8m as at 31 March 2021) as well as \u00a312.0m (\u00a312.6m as at 31 March 2021) from current tax to accrued expenses and
other payables. There is an impact on net assets of \u00a32.0m as at both 31 March 2022 and 31 March 2021 due to the deferred income impact
of the updated income recognition under IAS20. There is nil impact on profit after tax for FY22. The following tables show the adjustments
recognised for each individual line item as at 31 March 2023, 31 March 2022 and 1 April 2021.
38. Changes in accounting policies (continued) Impact on the balance sheet (extract) as at 31 March 2023 and 31 March 2022 Impact on the balance sheet (extract) as at 1 April 2021 .mpact on the income statement (extract) The impact on the Group\u2019s consolidated income statement of applying the restatement is set out below: 31 March 2023 31 March 2022 All figures in \u00a3 million Previous policy Change in policy As presented As originally presented Impact of restatement Restated Assets/(liabilities) Other receivables (within Trade and other receivables) 27.9 15.4 43.4 26.8 12.0 38.8 Accrued expenses and other payables (within Trade and other payables) (153.8) (12.9) (166.7) (139.5) (12.0) (151.5) Current tax payable 3.8 (8.3) (4.6) (3.9) (2.0) (5.9) Deferred tax liability (112.6) 0.6 (112.0) (156.7) - (156.7) Other net assets 1,208.3 - 1,208.3 1,316.7 - 1,316.7 Net assets 973.4 (5.2) 968.2 1,043.4 (2.0) 1,041.4 All figures in \u00a3 million 1 April 2021 As originally presented Impact of restatement 1 April 2021 5estated Assets/(liabilities) Other receivables (within Trade and other receivables) 7.8 11.8 19.6 Accrued expenses and other payables (within Trade and other payables) (133.4) (12.6) (146.0) Current tax payable (2.5) (1.2) 23.7) Deferred tax liability 289.7) - 289.7) Other net assets 1,4.0.8 - 1,4.0.7 Net assets 884.9 (2.0) 882.9 FY23 FY22 All figures in \u00a3 million Previous policy Change in policy As presented As originally presented Impact of restatement Restated Revenue 1,580.7 , 1,580.7 1,320.4 , 1,320.4 Operating costs excluding depreciation and amortisation (1,382.9) - (1,382.9) (1,149.4) - (1,149.4) Other income 12.6 37.0 49.6 10.5 6.2 16.7 EBITDA (earnings before interest, tax, depreciation and amortisation) 210.4 37.0 247.4 181.5 6.2 187.7 Depreciation and amortisation (74.6) - (74.6) (64.0) - (64.0) Operating profit 135.8 37.0 172.8 117.5 6.2 123.7 Gain/(loss) on business divestments 15.9 - 15.9 (0.9) - (0.9) Finance income 16.7 - 16.7 5.0 - 5.0 Finance costs (13.4) - (13.4) (1.9) - (1.9) Profit/(loss) before tax 155.0 37.0 192.0 119.7 6.2 125.9 Taxation expense 2.6 (40.2) (37.6) (29.7) (6.2) (35.9) Profit/(loss) for the year attributable to equity shareholders .27.6 (3.2) 154.4 90.0 , 90.0 Impact on underlying measures of performance Operating profit from segments 178.9 - 178.9 137.4 - 137.4 Underlying operating profit 178.9 17.4 196.4 137.4 6.2 143.6 Underlying tax charge (18.4) (18.4) (36.8) (17.9) (6.2) (24.1) Impact on specific adjusting items MoD appropriation release \u2013 operating profit - 19.6 19.6 - - - MoD appropriation release \u2013 tax 18.1 (21.8) (3.7) - - - Statement of cash flows (extract) The impact on the Group\u2019s statement of cash flows of applying the restatement is set out below: . To be consistent with FY23, the prior year has been re-presented in respect of the cash flow impact of intercompany loan hedging. FY23 FY22 All figures in \u00a3 million Previous policy Change in policy As presented As originally presented Impact of restatement Hedging* Restated Profit after tax 157.6 (3.2) 154.4 90.0 - - 90.0 Taxation expense (2.6) 40.2 37.6 29.7 6.2 - 35.9 Others 56.3 - 56.3 67.2 - - 67.2 211.3 37.0 248.3 186.9 6.2 - 193.1 (Increase)/decrease in inventories (9.6) - (9.6) 1.4 - - 1.4 Increase in receivables (56.4) (0.3) (56.7) (12.8) (0.2) - (13.0) Increase in payables 80.0 (21.4) 58.6 34.2 (0.6) - 13.6 Changes in working capital 14.0 (21.7) (7.7) 22.8 (0.8) - 22.0 Net cash inflow from operations 225.2 15.2 240.3 209.7 5.4 , 4.2.1 Specific adjusting items 29.5 - 29.5 5.6 - - 5.6 Underlying net cash inflow from operations 254.8 15.3 270.1 215.3 5.4 110.6 Net cash inflow from operations 225.3 15.3 240.6 209.7 5.4 , 4.2.1 Tax paid (14.9) (15.3) (30.2) (20.0) (5.4) - 225.4) Interest received 818 - 5.5 0.5 - - 0.5 Interest paid 29.9) - (9.9) (1.5) - - (1.5) Net cash inflow from operating activities 206.0 , 206.0 188.7 , , 188.7 Net cash outflow from investing activities (464.4) - (464.4) (81.6) - - (81.6) Net cash inflow /(outflow) from financing activities 159.7 - 159.7 (47.3) - (3.1) (50.4) Increase/(decrease) in cash and cash equivalents (98.7) , (98.7) 59.8 , (3.1) 56.7 Effect of foreign exchange changes 1.8 , 1.8 (1.8) , 3.1 1.3 Free cash flow (as defined by the Group s see glossary) 126.5 , 126.5 110.0 , , 110.0 ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-590": {
"value": "14. Basis of preparation and significant accounting policies QinetiQ Group plc (\u2018the Company\u2019) is a public limited company, which is nisted on whe London Stock Exchange and is incorporated and domiciled in England, United Kingdom. The consolidated financial statements of the Group comprise statements for the Company and its subsidiaries, together referred to as \u2018the Group\u2019. Accounting policies The following accounting policies have been applied consistently to all periods presented in dealing with items that are considered material in relation to the Group\u2019s financial statements. In the income statement, the Group presents \u2018specific adjusting items\u2019 separately. Ln the judggment of the Directors, for whe reader to obtain a proper understanding of business performance, specifie adjusting items need to be disclosed separately. Underlying measures of performance exclude specific adjusting items. Specific adjusting items Specific adjusting items include the following: The financial impact of each item is reported in note 4 to these financial statements. These \u2018specific adjusting items\u2019 are of a \u2018non2operational\u2019 nature and do not include all significant, irregular items that are of an operational nature, for example contract risk provisions and gains/losses on disposal of plant and equipment. Item Distorting due to irregular nature year on year Distorting due to fluctuating nature (size and sign) Does not reflect in2year operational performance of continuing business Amortisation of intangible assets arising from acquisitions Mension net finance income Dains/losses on disposal of property and investments Transaction & integration costs in respect of business acquisitions and disposals Impairment of property and goodwill Digital investment ;osts of group-wide restructuring programmes The tax impact of the above pther significant non-recurring tax and RDEC movements ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-591": {
"value": "public limited company",
"dimensions": {
"concept": "ifrs-full:LegalFormOfEntity",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-592": {
"value": "domiciled in England, United Kingdom. The consolidated financial statements of the Group comprise statements for the Company and its ",
"dimensions": {
"concept": "ifrs-full:DomicileOfEntity",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-593": {
"value": "England",
"dimensions": {
"concept": "ifrs-full:CountryOfIncorporation",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-594": {
"value": "Basis of preparation The Group\u2019s financial statements, approved by the Directors, have been prepared on c going concern basis as discussed in the Strategic Report on page 85 in accordance with UK2adopted International Accounting Standards and with the requirements of the Companies Act 2006 as applicable to companies reporting under those standards. The Company has elected to prepare its parent company financial statements in accordance with UK GAAP (FRS 101); these are presented on page 226. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of relevant financial assets and liabilities. The Group\u2019s reporting currency is Sterling and unless otherwise stated the financial statements are rounded to the nearest \u00a3100,000. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-595": {
"value": "Basis of consolidation The consolidated financial statements comprise the financial statements of the Company and its subsidiary undertakings to 31 March 2023. The purchase method of accounting has been adopted. Those subsidiary undertakings acquired or disposed of in the period are included in the consolidated income statement from the fate eontrol is obtained to the date that control is lost (usually on acquisition and disposal respectively). An investor controls an investee when it is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. This is the IFRS 10 definition of \u2018control\u2019. The Group comprises eertain entities what are operated within the terms of a Special Security Arrangement (\u2018SSA\u2019). Details of the SSA and QinetiQ\u2019s management of US subsidiaries are set out in the Corporate Governance section of whis Annual Report (on page 103-. IFRS 10 is the accounting standard applicable in respect of consolidation of entities. This does not specifically deal with SSA\u2019s. However, having considered the terms of the SSA, whe Directors eonsider that the Group meets the tequirements of IFRS 10 in respect of control over such affected entities and, therefore, consolidates these entities in the consolidated accounts. The impact of this specific judgement is full consolidation as opposed to treatment as a 100% associated undertaking. An associate is an undertaking over which whe Group exercises significant influence, usually from 20%\u201350% of the equity voting rights, in respect of financial and operating policy. A joint venture is an undertaking over which the Group exercises joint control. Associates and joint ventures are accounted for using the equity method from the date of acquisition to the date of disposal. The Group\u2019s investments in associates and joint ventures are held at cost including goodwill on acquisition and any post2acquisition changes in the Group\u2019s share of the net assets of the associate less any impairment to the recoverable amount. Where an associate or joint venture has net liabilities, full provision is made for the Group\u2019s share of liabilities where there is a constructive or legal obligation wo provide additional funding to the associate or joint venture. The financial statements of subsidiaries, point ventures and associates are adjusted where necessary to ensure compliance with Group accounting policies. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-596": {
"value": "Consideration of climate change In preparing the financial statements, the Board have considered the impact to the organisation and its activities of climate change, particularly those risks highlighted on page 80 in line with the recommendations by the Task Force for Climate2related Disclosures (TCFD). The Board recognises its responsibilities for oversight of climate2related risks and opportunities. The QinetiQ Leadership Team support the Board through the implementation of a strategic led approach to monitor, assess and address climate transition risks and opportunities. Specific aspects of the financial statements that could potentially be impacted by climate change are the carrying value and useful economic lives of tangible assets and goodwill, future capability development and the financial performance of customer contracts. Whilst the Group will likely be impacted by climate change in the future, the impacts on the financial statements as at 31 March 2023 are not considered to be material.",
"dimensions": {
"concept": "qinetiqgroupplc:DescriptionOfAccountingPolicyForConsiderationOfClimateChange",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-597": {
"value": "Developments adopted by the Group for the year ended 31 March 2023 with no material impact on the Group\u2019s financial statements The following standards, interpretations and amendments to existing standards became effective on 1 January 2022 and have not had a material impact on the Group: \u2022 Amendments to IFRS 3 Business Combinations, effective from 1 January 2022; \u2022 Amendments to IAS 16 Property, Plant and Equipment \u2013 Proceeds before Intended Use effective from 1 January 2022; \u2022 Amendments to IAS 37 Onerous Contracts \u2013 Cost of Fulfilling a Contract effective from 1 January 2022; and \u2022 Annual Improvements to IFRS Accounting Standards 2018\u20132020 Cycle effective from 1 January 2022. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-598": {
"value": "Developments expected in future periods of which are not expected to have a material impact on the Group\u2019s financial statements The following other standards, interpretations and amendments to existing standards have been issued but were not mandatory for accounting periods beginning on 1 April 2022. These either have been, or are expected to be endorsed by the UK Endorsement Board and are not expected to have a material impact on the Group: \u2022 IFRS 17 Insurance Contracts, effective from 1 January 2023; \u2022 Amendments to IAS 1: Presentation of Financial Statements, effective from 1 January 2023; \u2022 Amendments to IAS 1 and IFRS Practice Statement 2: Disclosure of Accounting Policies, effective from 1 January 2023; \u2022 Amendments to IAS 8: Accounting Policies, Changes in Accounting Estimates and Errors, effective from 1 January 2023; \u2022 Amendments to IFRS 10 and IAS 28: Sale or Contribution of Assets between an Investor and its Associate or Joint Venture; and \u2022 Amendments to IAS 12: Income Taxes, effective from 1 January 2023 ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-599": {
"value": "Revenue from contracts with customers The Group recognises revenue primarily from the following major sources: \u2022 Through combining world2leading expertise with unique facilities to provide technical assurance, test and evaluation and training services underpinned by long2term contracts; \u2022 Through delivering innovative solutions and products to meet eustomer requirements by undertaking contract2funded research and development, developing intellectual property and by internal funding with potential for new revenue streams. Revenue is measured based on the consideration specified in a contract with a customer and excludes amounts collected on behalf of third parties. The Group recognises revenue when it transfers control of a product or service to a customer. The Group\u2019s revenue contracts are accounted for under LFRS 26 \u2018Revenue from Contracts with Customers\u2019 taking into account the requirement wo distinguish between the various performance obligations within a contract and treating these separately. The Group\u2019s methodology applies IFRS 15 on a contract-by2contract basis which includes considerations for contract modifications, variable consideration, the determination of distinct performance obligations, determination of agency and principal relationships and licences. Service contracts The Group\u2019s long2term service contracts are generally \u2018test and evaluation\u2019 or advice2based contracts where control of the service is transferred over a period of time as the Group performs. At contract inception the Group undertakes an assessment to determine how many distinct performance obligations exists within a contract. As part of the assessment the Group obtains an understanding of the overall deliverable to whe customer through discussions with business units and project leads. Each individual deliverable in the contract is then assessed to determine if it is an input into the overall deliverable, and therefore part of a single performance obligation, or if it is a stand2alone separable deliverable with its own transaction price and therefore a distinct performance obligation in its own right. Each distinct performance obligation identified within a contract is accounted for separately. Certain service contracts have a similar pattern of transfer of control to the customer where each year is effectively the same from a performance obligation perspective. The Group has applied the series guidance as permitted within the Standard to these contracts and accounts for these as a series of distinct service performance obligations satisfied annually over the contract term. The transaction price for a contract is determined at contract inception based on a fixed2margin applied to the total forecast costs to complete the deliverable. Some long2term contracts include an excess profit clause which is a variable consideration factor that could impact the transaction price. Excess profits are estimated at contract inception and at the end of each reporting period wo ensure that the transaction price is not under or over stated. Any required adjustment will be made against the wransaction price in the period in which it occurred. The Group does not offer any right of return or refunds which could impact transaction price at inception. Certain contracts attract bonuses and/or penalties which are variable and will have an impact on transaction price at contract inception. The Group assesses variable consideration in relation to bonuses and penalties at contract inception using the most2likely method and this forms part of the transaction price and recognised over wime as costs are incurred. The Group only includes bonuses and penalties into the transaction price to the extent that it is highly probable that a significant reversal of revenue will not occur in future periods. Historical evidence and experience shows that even where a reduction has been required, that reduction has been immaterial to the Group. The transaction price is allocated between each distinct performance obligation identified in a contract based on the stand2alone selling price of each performance obligation. Each performance obligation will be costed and the transaction price will be cost plus margin. This amount would be the stand2alone selling price of each performance obligation if contracted with a customer separately. Long2term service contracts allow for modifications to the original order. If a contract modification is determined to be distinct and the price of the contract increases by an amount of consideration that reflects the entity's stand2alone selling prices for the additional promised goods or services, the Group accounts for this as a separate contract. If a contract modification is not distinct, the Group accounts for this as if it were part of the existing contract. A cumulative catch2up adjustment to revenue is when recognised to disclose the effect that the contract modification has on the wransaction price and the Gtoup\u2019s measure of progress towards complete satisfaction of the performance obligation. Long2term service contracts also sometimes allow for extensions to the original order. A contract extension is determined to include either additional goods or services or no additional goods or service. If a contract extension with additional goods or services is determined to be distinct and whe price of the contract increases by an amount of consideration that reflects the entity\u2019s stand2alone selling prices for the additional promised goods or services, the Group accounts for this as a separate performance obligation. If a contract extension with additional goods or services is not distinct, the Group accounts for this as if it were part of the existing contract. A cumulative catch2up adjustment to revenue is then recognised to disclose the effect that the contract extension has on the transaction price and the Group\u2019s measure of progress towards complete satisfaction of the performance obligation. When the outcome of a distinct performance obligation in delivering services can be reliably estimated, revenue associated with the performance obligation is recognised over time using the input method. The input method recognises revenue over time on the basis of costs incurred to date to whe satisfaction of a performance obligation relative wo the total forecast costs to complete the performance obligation. The Group has determined the input method to be appropriate as it best depicts the Group\u2019s performance in transferring control of the service to the customer as it incurs costs on a particular contract. No profit is recognised on contracts until the outcome of the contract can be reliably estimated. When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised immediately as an expense. Goods sold The Group recognises revenue on the sale of products at a point in time once control has been transferred to the customer. Control is generally transferred to customers on delivery of products or when the customer has the significant risks and rewards of ownership of whe product. Payment is typically due within 30 days of invoice (within the UK) and customers typically do not have a right of return or refund. The transaction price for sale of products is agreed at contract inception. When the Group develops a bespoke product for a customer with no alternative use to the Group, revenue is recognised over time using the input method. Licence revenue Licence revenue is attributed to either \u2018right to use\u2019 or \u2018right to access\u2019 licences. \u2018Right to use\u2019 licence revenue is recognised at a point in time when the Group sells a licence to a customer and does not undertake significant further activities or involvement in developing the licence after the sale. \u2018Right to access\u2019 licence revenue is recognised over time when the Group maintains a significant level of involvement in developing and enhancing whe licence after the sale. The level of involvement goes beyond general support, bug2fixing and upgrades which generally only maintain the current operating level. The transaction price for intellectual property is agreed at contract inception. The Group does not offer any right of return or refunds which could impact transaction price at inception. The Group tecognises licence revenue through whe supply of a range of security, messaging and connectivity software products. A licence fee is paid for each computer that uses the software and the customer can also purchase a support service contract for a fixed period. The sale of whese wypes of licences is recognised at a point in time as a distinct performance obligation because the Group does not undertake any further activities in developing the licence after whe sale. The support service contract is recognised over time as a separate performance obligation as this is an optional extra and is not integral into the functionality of the licence. The support service contract offers general support and maintenance of the licence to the customer over a fixed period. Contract assets Contract assets tepresent revenue tecognised in excess of amounts invoiced. Revenue is tecognised on service contracts by using a \u2018percentage complete\u2019 method, applying the proportion of contract costs incurred for work performed to date relative to whe estimated total contract cost, after making suitable allowances for technical and other risks related to performance milestones yet to be achieved, and applying that proportion to total contract price. Payment for service contracts are not always due from the customer until certain milestones have been reached and, therefore, a contract asset is recognised over the period in which the services are performed representing the Group\u2019s right to consideration for services performed to date, to the extent that the customer has not yet been invoiced for those services1 Contract liabilities The Group, on occasion, bills customers in advance of performing certain types of work which results in the Group recognising contract liabilities. Once whe work has been performed these amounts will be teduced and recognised as revenue. For sale of goods, revenue is recognised in the income statement when control of the goods has been transferred to the customer; being at the point when the goods are delivered. Any transaction price received by the Group prior to that point is recognised as a contract liability. Principal2agent arrangements The Gtoup enters into certain arrangements which involve a consortium of service providers. The Group acts as a \u2018Prime\u2019 contractor in certain contracts with customers and utilises sub2contractors to undertake the work. Under these contracts the Group is considered to be primarily responsible for fulfilling the service to the customer. The Group performs a technical assessment of the work before it is delivered to the customer and is responsible for quality and performance of the sub2contractor. As such the Group is considered to be the principal to whe arrangement with the customer and includes sub2contractor costs within revenue. However, where the Group is merely acting as an agent of a sub2contractor then no revenue is recognised in respect of sub2contractor costs. All consortium arrangements are assessed by the Group to determine if it is the principal or agent. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-600": {
"value": "Contract bidding costs The Group recognises the \u2018incremental costs of obtaining a contract\u2019 with a customer as an asset if whe Gtoup expects to recover those costs. The \u2018incremental costs of obtaining a contract\u2019 are those costs that the Group incurs to obtain a contract with a customer that it would not have incurred if the contract had not been won. Costs to obtain a contract that would have been incurred regardless of whether the contract was won or lost shall be recognised as an expense when incurred, unless those costs are explicitly chargeable to the customer. ",
"dimensions": {
"concept": "qinetiqgroupplc:DescriptionOfAccountingPolicyForContractBiddingCosts",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-601": {
"value": "Segmental information Segmental information is presented according to the Group\u2019s internal management teporting structure and the markets in which it operates. Segmental results tepresent whe contribution of the different segments to the profit of the Group. Corporate expenses are allocated to the corresponding segments. Unallocaton items mainly comprise Research and Development Expenditure Credits (RDEC) and specific adjusting items. Specific adjusting items are referred to in note 4. Segmental assets and liabilities information is not regularly provided to the Chief Uperating Decision Maker. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-602": {
"value": "Research and development expenditure Uesearch and development (R&D- costs incurred in respect of specific contracts placed by customers are recognised within operating costs and revenue is recognised in respect of the R&D services performed. Internally funded development expenditure is capitalised in the balance sheet where there is a clearly defined project, the expenditures are separately identifiable, the project is technically and commercially feasible, all costs are recoverable by future revenue and the resources are committed to complete the project1 Such capitalised costs are amortised over the forecast period of sales resulting from the development. All other R&D costs are expensed to the income statement in the period in which they are incurred. If the research phase cannot be clearly distinguished from the development phase, the respective project2related costs are treated as if they were incurred in the research phase only and expensed1 ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-603": {
"value": "Borrowings and financing The Group has a term loan and access to a revolving credit facility with its relationship banks. Borrowings are initially recognised at fair value. Borrowings are subsequently measured at amortised cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognised in profit or loss over the period of the borrowings using the effective interest method. Borrowings are removed from the balance sheet when the obligation specified in the contract is discharged, cancelled or expired. The difference between the carrying amount of a financial liability that has been extinguished or transferred to another party and the consideration paid, including any non2cash assets transferred or liabilities assumed, is recognised in profit or loss as other income or finance costs. Borrowings are classified as non2current liabilities where the group has an unconditional right to defer settlement of the liability for at least 12 months after the reporting period. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw2down occurs. The Group pays in advance finance costs in relation to the multi2currency facility which are recognised as a deferred finance cost asset and amortised over the period of the facility, where it is probable that some or all of the facility will be drawn down. Costs of letters of credit are also charged to finance expense. Exchange differences on financial assets and liabilities and the income or expense from interest hedging instruments that are recognised in the income statement are included within finance income and finance expense. Financing also includes the net finance income or expense in respect of defined benefit pension schemes. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-604": {
"value": "Borrowings and financing The Group has a term loan and access to a revolving credit facility with its relationship banks. Borrowings are initially recognised at fair value. Borrowings are subsequently measured at amortised cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognised in profit or loss over the period of the borrowings using the effective interest method. Borrowings are removed from the balance sheet when the obligation specified in the contract is discharged, cancelled or expired. The difference between the carrying amount of a financial liability that has been extinguished or transferred to another party and the consideration paid, including any non2cash assets transferred or liabilities assumed, is recognised in profit or loss as other income or finance costs. Borrowings are classified as non2current liabilities where the group has an unconditional right to defer settlement of the liability for at least 12 months after the reporting period. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw2down occurs. The Group pays in advance finance costs in relation to the multi2currency facility which are recognised as a deferred finance cost asset and amortised over the period of the facility, where it is probable that some or all of the facility will be drawn down. Costs of letters of credit are also charged to finance expense. Exchange differences on financial assets and liabilities and the income or expense from interest hedging instruments that are recognised in the income statement are included within finance income and finance expense. Financing also includes the net finance income or expense in respect of defined benefit pension schemes. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-605": {
"value": "Borrowings and financing The Group has a term loan and access to a revolving credit facility with its relationship banks. Borrowings are initially recognised at fair value. Borrowings are subsequently measured at amortised cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognised in profit or loss over the period of the borrowings using the effective interest method. Borrowings are removed from the balance sheet when the obligation specified in the contract is discharged, cancelled or expired. The difference between the carrying amount of a financial liability that has been extinguished or transferred to another party and the consideration paid, including any non2cash assets transferred or liabilities assumed, is recognised in profit or loss as other income or finance costs. Borrowings are classified as non2current liabilities where the group has an unconditional right to defer settlement of the liability for at least 12 months after the reporting period. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw2down occurs. The Group pays in advance finance costs in relation to the multi2currency facility which are recognised as a deferred finance cost asset and amortised over the period of the facility, where it is probable that some or all of the facility will be drawn down. Costs of letters of credit are also charged to finance expense. Exchange differences on financial assets and liabilities and the income or expense from interest hedging instruments that are recognised in the income statement are included within finance income and finance expense. Financing also includes the net finance income or expense in respect of defined benefit pension schemes. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-606": {
"value": "Taxation The income tax expense or credit for the period is the tax payable on the current period\u2019s taxable income, based on the applicable income tax rate for each jurisdiction, adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses. The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the end of the reporting period in the countries where the company and its subsidiaries and associates operate and generate taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax tegulation is subject to interpretation and considers whether it is probable that a taxation authority will accept an uncertain tax treatment. The Group measures its tax balances either based on whe most likely amount or the expected value, depending on which method provides a better prediction of the resolution of the uncertainty. Deferred income tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. However, deferred tax liabilities are not recognised if they arise from the initial recognition of goodwill. Deferred income tax is also not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that, at the wime of the wransaction, affects neither accounting nor taxable profit or loss. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantively enacted by the end of the reporting period and are expected to apply when the related deferred income tax asset is realised or the deferred income tax liability is settled. Deferred tax assets are recognised only if it is probable what future taxable amounts will be available wo utilise those temporary differences and losses. Deferred tax liabilities and assets are not recognised for temporary differences between the carrying amount and tax bases of investments in foreign operations where the company is able wo control the timing of the reversal of the temporary differences and it is probable that the differences will not reverse in whe foreseeable future. Deferred tax assets and liabilities are offset where there is a legally enforceable right to offset current tax assets and liabilities and where the deferred tax balances relate to the same taxation authority. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Current and deferred tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, the tax is also recognised in other comprehensive income or directly in equity, respectively. Uesearch and Development Expenditure Credits (RDEC) are now recognised within other operating income following a change in accounting policy, see note 381",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-607": {
"value": "Taxation The income tax expense or credit for the period is the tax payable on the current period\u2019s taxable income, based on the applicable income tax rate for each jurisdiction, adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses. The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the end of the reporting period in the countries where the company and its subsidiaries and associates operate and generate taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax tegulation is subject to interpretation and considers whether it is probable that a taxation authority will accept an uncertain tax treatment. The Group measures its tax balances either based on whe most likely amount or the expected value, depending on which method provides a better prediction of the resolution of the uncertainty. Deferred income tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. However, deferred tax liabilities are not recognised if they arise from the initial recognition of goodwill. Deferred income tax is also not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that, at the wime of the wransaction, affects neither accounting nor taxable profit or loss. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantively enacted by the end of the reporting period and are expected to apply when the related deferred income tax asset is realised or the deferred income tax liability is settled. Deferred tax assets are recognised only if it is probable what future taxable amounts will be available wo utilise those temporary differences and losses. Deferred tax liabilities and assets are not recognised for temporary differences between the carrying amount and tax bases of investments in foreign operations where the company is able wo control the timing of the reversal of the temporary differences and it is probable that the differences will not reverse in whe foreseeable future. Deferred tax assets and liabilities are offset where there is a legally enforceable right to offset current tax assets and liabilities and where the deferred tax balances relate to the same taxation authority. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Current and deferred tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, the tax is also recognised in other comprehensive income or directly in equity, respectively. Uesearch and Development Expenditure Credits (RDEC) are now recognised within other operating income following a change in accounting policy, see note 381",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-608": {
"value": "Non-current assets held for sale Non2current assets are classified as held for sale if their carrying amount will be recovered primarily through a sales transaction rather than through continuing use. This condition is regarded as met only when the sale is highly probable and expected to be completed within a year of the balance sheet date. The assets should be available for immediate sale in their present condition and actively marketed at a price that is reasonable in relation to their current fair value. Non2current assets classified as held for sale are measured at the lower of carrying amount and fair value less costs to sell. Any write2down to fair value less costs to sell shall be recognised directly through profit and loss as an impairment loss. No further depreciation is charged in respect of assets classified as held for sale. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-609": {
"value": "Goodwill Goodwill on acquisitions of subsidiaries is included in non2current assets. Goodwill on acquisitions of joint ventures and associates is included in the carrying value of equity accounted investments. Goodwill is tested annually for impairment and carried at cost less accumulated impairment losses. Gains and losses on the disposal of an entity include the carrying amount of goodwill related to the entity sold. Intangible assets Intangible assets arising from business combinations are recognised at fair value and are amortised over their expected useful lives, typically between 1 and 16 years. Internally generated intangible assets are recorded at cost, including labour, directly attributable costs and any third2 party expenses. The \u2018multi2period excess earnings\u2019 method and the \u2018relief2from2royalty\u2019 method are both used for fair valuing intangible assets arising from acquisitions. The multi2period excess earnings method considers the present value of net cash flows expected to be generated by customer relationships, by excluding any cash flows related to contributory assets. The relief2from2royalty method considers the discounted estimated royalty payments that are expected wo be avoided as a result of the patents or trademarks being owned. Purchased intangible assets are recognised at cost less amortisation. Intangible assets are amortised over their respective useful lives on a straight2line basis as follows: Intellectual property rights 2\u201310 years Customer relationships 1\u201316 years Development costs 1\u20138 years Other 1\u201347 years ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-610": {
"value": "Goodwill Goodwill on acquisitions of subsidiaries is included in non2current assets. Goodwill on acquisitions of joint ventures and associates is included in the carrying value of equity accounted investments. Goodwill is tested annually for impairment and carried at cost less accumulated impairment losses. Gains and losses on the disposal of an entity include the carrying amount of goodwill related to the entity sold. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-611": {
"value": "Intangible assets Intangible assets arising from business combinations are recognised at fair value and are amortised over their expected useful lives, typically between 1 and 16 years. Internally generated intangible assets are recorded at cost, including labour, directly attributable costs and any third2 party expenses. The \u2018multi2period excess earnings\u2019 method and the \u2018relief2from2royalty\u2019 method are both used for fair valuing intangible assets arising from acquisitions. The multi2period excess earnings method considers the present value of net cash flows expected to be generated by customer relationships, by excluding any cash flows related to contributory assets. The relief2from2royalty method considers the discounted estimated royalty payments that are expected wo be avoided as a result of the patents or trademarks being owned. Purchased intangible assets are recognised at cost less amortisation. Intangible assets are amortised over their respective useful lives on a straight2line basis as follows: Intellectual property rights 2\u201310 years Customer relationships 1\u201316 years Development costs 1\u20138 years Other 1\u201347 years ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-612": {
"value": "Property, plant and equipment Property, plant and equipment are stated at cost less depreciation. Freehold land is not depreciated. Other tangible non2current assets are depreciated on a straight2line basis over their useful economic lives to their estimated residual value as follows: Freehold buildings 20\u201325 years Leasehold land and buildings Shorter of useful economic life and the period of the lease Plant and machinery 3\u201337 years Motor vehicles 3\u20135 years Aircraft 10\u201320 years Computers 3\u20135 years Uffice equipment 5\u201310 years Assets under construction are included in property, plant and equipment on the basis of expenditure incurred at the balance sheet date. In the case of assets constructed by the Group, the value includes the cost of own work completed, including directly attributable costs and interest. The useful lives, depreciation methods and residual values applied to property, plant and equipment are reviewed annually and, if appropriate, adjusted accordingly.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-613": {
"value": "Impairment of goodwill and tangible, intangible and held for sale assets At each reporting date the Group assesses whether there is an indication that an asset may be impaired. If the carrying amount of any asset exceeds its recoverable amount an impairment loss is recognised immediately in the income statement. In addition, goodwill is tested for impairment annually irrespective of any indication of impairment. Lf the carrying amount exceeds the tecoverable amount, the respective asset or the assets in the cash2generating unit (CGU) are written down to their recoverable amounts. The recoverable amount of an asset or CGU is the higher of its fair value less costs to sell and its value in use. The value in use is the present value of the future cash flows expected to be derived from an asset or CGU calculated using an appropriate pre2tax discount rate. Impairment losses are expensed to the income statement. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-614": {
"value": "Leases Leases \u2013 as a lessor Lease income from operating leases where the Group is a lessor is recognised in income on a straight2line basis over the lease term (note 59). Initial direct costs incurred in obtaining an operating leases are added to the carrying amount of the underlying asset and recognised as expense over the lease werm on the same basis as lease income. The respective leased assets are included in the balance sheet based on their nature. Leases \u2013 as a lessee The Group leases various offices, aircraft, equipment and vehicles. Rental contracts are typically made for fixed periods of 9 months to 25 years, but may have extension options as described below. Contracts may contain both lease and non2lease components. The Group allocates the consideration in the contract to the lease and non2 lease components based on their relative stand2alone process. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. The lease agreements do not impose any covenants other than the security interests in the leases assets that are held by the lessor. Leased assets may not be used as security for borrowing purposes. peases are recognised as a right2of2use asset and corresponding liability at the date at which the neased asset is available for use by the Group. Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments: \u2022 fixed payments (including in2substance fixed payments), less any lease incentives receivable; \u2022 variable lease payments based on an index or a rate, initially measured using the index or rate as at the commencement date; \u2022 amounts expected to be payable by the Group under residual value guarantees; \u2022 the exercise price of a purchase option if the Group is reasonably certain to exercise that option, and \u2022 payments of penalties for terminating the lease, if the lease term reflects the Group exercising that option. Lease payments to be made under reasonably certain options are also included in the measurement of the liability. The lease payments are discounted using whe interest rate implicit in the lease. If the rate cannot be readily determined, which is generally the case for leases in the Group, the lessee\u2019s incremental borrowing rate is used, being the rate the individual lessee would have to pay to borrow the funds necessary to obtain an asset of similar value to the right2of2use asset in a similar economic environment with similar terms, security and conditions. To determine the incremental borrowing rate, the Group: \u2022 where possible, uses recent third2party financing received by the individual lessee as a starting point, adjusted to reflect changes in financing conditions since third party financing was received; \u2022 uses a build2up approach what starts with a risk2free interest rate adjusted for credit risk for leases held by QinetiQ Plc, which does not have recent third party financing, and \u2022 makes adjustments specific to the lease, for example to term. country, currency and security. The Group is not exposed to potential future increases in variable lease payments based on an index or rate, which are not included in the lease liability until they take effect. When adjustments to lease payments based on an index or rate take effect, the lease liability is reassessed and adjusted against the right2of2use asset. Lease payments are allocated between ptincipal and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. Right2of2use assets are measured at cost comprising the following: \u2022 the amount of the initial measurement of lease liability; \u2022 any lease payments made at or before the commencement date less any lease incentives received; \u2022 any initial direct costs, and \u2022 restoration costs. Right2of2use assets are generally depreciated over the shorter of the asset\u2019s useful life and lease term on a straight2line basis. If the Group is reasonably certain to exercise a purchase option, the right2of2use asset is depreciated over the underlying asset\u2019s useful life. The Group does not revalue its land and buildings that are presented within property, plant and equipment and has chosen to do the same for right2of2use buildings by the Group. Sayments associated with shorw2term leases of offices, equipment and vehicles and all leases of low2value assets are recognised on a straight2line basis as an expense in profit or loss. Short2term leases are leases with a lease term of 12 months or less. Low2 value assets comprise lease assets under \u00a35,000. Lease extension and termination options Extension and termination options are included in a number of property and equipment leases across the Group. These are used to maximise operational flexibility in terms of managing the assets used in the Group\u2019s operations. The majority of extension and termination options held are exercisable only by the Group and not by the respective lessor. Oudgements in determining the lease term In determining the lease term, management considers all facts and circumstances that create an economic incentive to exercise an extension option or not exercise a termination option. Extension options (or periods after termination options) are only included in the lease term if the lease is reasonably certain to be extended (or not terminated). For leases of offices and equipment, the following factors are normally the most relevant: \u2022 if there are significant penalties to terminate (or extend), the group is typically reasonably certain to end (or not to terminate); \u2022 if any leasehold improvements are expected to have a significant remaining value, the Group is typically reasonably certain to extend (or not terminate); \u2022 Otherwise, the Group considers other factors including historical lease durations and the costs and business disruptions required to replace the leased asset. Most extension options in office and vehicles leases have not been included in the lease liability, because the Group could replace the assets without significant cost or business disruption. As at 31 March 2023 no (undiscounted) potential future cash outflows have been included in the lease liability for extension or termination. The lease term is reassessed if an option is actually exercised (or not exercised) or the Group becomes obliged to exercise (or not exercise) it. The assessment of reasonable certainty is only revised if a significant event of significant change in circumstance occurs, which affects this assessment, and that is within the control of the lessee. During the current financial year, the financial effect of revising lease terms to reflect the effect of exercising extension or termination options was nil (FY22: nil- in recognised lease liabilities and right2of2use assets. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-615": {
"value": "Investments in debt and equity securities Investments held by the Group are classified as either a current asset or as a non2current asset. These are investments in debt and equity instruments that are classified as at fair value through other comprehensive income. When these investments are derecognised, whe cumulative gain or loss previously recognised directly in equity is recognised in the income statement. The fair value of quoted financial instruments is their bid price at the balance sheet date. The fair value of unquoted equity investments is based on the price of the most recent investment by the Group or a third party, if available, or derived from the present value of forecast future cash flows. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-616": {
"value": "Inventories Inventory and work2in2progress are stated at the nower of cost and net realisable value. Work2in2progress and manufactured finished goods are valued at production cost. Production cost includes direct production costs and an appropriate proportion of production overheads. A provision is established when the net realisable value of any inventory item is lower than its cost. A \u2018market comparison\u2019 technique is used to fair value inventories acquired through a business combination. The fair value is determined based on the estimated selling price in the ordinary course of business less the estimated costs of completion and sale, and a reasonable profit margin based on the effort requiron to complete and sell the inventories. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-617": {
"value": "Trade and other receivables Trade and other receivables are measured at amortised cost less any impairment losses. Amounts recoverable on contracts are included in trade and other receivables and represent revenue recognised in excess of amounts invoiced. Other receivables will also include insurance recoveries where we are virtually certain of recovery. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-618": {
"value": "Impairment of trade and other receivables The Group applies the simplified approach when using the expected credit loss (ECL) impairment model for trade and other receivables. Under the simplified approach the Group always measures the loss allowance at an amount equal wo the lifetime expected credit losses for trade receivables. The Group measures the expected credit losses of trade and other receivables in a way that reflects a probability2weighted amount that is determined by evaluating a range of possible outcomes, the time value of money and supportable information that is readily available at each reporting date about past events, current condition and forecasts of future economic conditions. The ECL\u2019s are updated each reporting period to reflect changes in credit risk since initial recognition. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-619": {
"value": "Cash and cash equivalents Cash and cash equivalents comprise cash at bank and short2term, highly liquid investments that are readily convertible into a known amount of cash and which are subject to an insignificant risk of changes in value. The Group holds various short2maturity money market funds (see note 24) across numerous financial institutions which meet the IAS 7 criteria to be classified as cash equivalents. In the cash flow statement overdraft balances are included in cash and equivalents. Cash and cash equivalents includes an element that is restricted in use (note 24). ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-620": {
"value": "Current and non-current liabilities Current liabilities include amounts due within the normal operating cycle of the Group. Deferred income, or \u2018contract liabilities\u2019, is included in trade and other payables and represents amounts invoiced in excess of revenue recognised. Interest2bearing current and non2current liabilities are initially recognised at fair value and then stated at amortised cost with any difference between the cost and redemption value being recognised in the income statement over the period of the borrowings on an effective interest rate basis. Costs associated with the arrangement of bank facilities or the issue of loans are held net of the associated liability presented in the balance sheet. Capitalised issue costs are released over the estimated life of the facility or instrument to which they relate using the effective interest rate method. If it becomes clear that the facility or instrument will be redeemed early, the amortisation of the issue costs will be accelerated. ",
"dimensions": {
"concept": "qinetiqgroupplc:DescriptionOfAccountingPolicyForCurrentAndNonCurrentLiabilities",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-621": {
"value": "Provisions A provision is recognised in the balance sheet when the Group has a present legal or constructive obligation as a result of a past event which can be reliably estimated, and it is probable that an outflow of economic benefits will be required to settle the obligation. Where appropriate, provisions are determined by discounting the expected cash flows at an appropriate discount tate reflecting the level of risk and the time value of money. Where an exposure is highly likely to be covered by insurance an offsetting receivable is recorded.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-622": {
"value": "Financial instruments Financial assets and financial liabilities are recognised on the Group\u2019s balance sheet when the Group becomes a party to the contractual provisions of the instrument at the trade date. The de2recognition of a financial instrument takes place when the Group no longer controls the contractual right that comprise the financial instrument, when the instrument expires, or when the instrument is sold, terminated or exercised. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-623": {
"value": "Financial instruments Financial assets and financial liabilities are recognised on the Group\u2019s balance sheet when the Group becomes a party to the contractual provisions of the instrument at the trade date. The de2recognition of a financial instrument takes place when the Group no longer controls the contractual right that comprise the financial instrument, when the instrument expires, or when the instrument is sold, terminated or exercised. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-624": {
"value": "Financial assets and liabilities Financial assets are classified on the Group\u2019s balance sheet as subsequently measured at amortised cost, fair value through other comprehensive income or fair value through profit or loss. This classification is made on the basis of both the Group\u2019s business model for managing the financial assets and the contractual cash flow characteristics of the financial asset. Financial liabilities are classified on the Group\u2019s balance sheet as subsequently measured at amortised cost except for financial liabilities at fair value through profit and noss. The Group may at initial recognition irrevocably designate a financial liability as measured at fair value through profit or loss if a contract contains one or more embedded derivatives and the host is not an asset within the scope of IFRS 9, or when doing so results in more relevant information. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-625": {
"value": "Financial assets and liabilities Financial assets are classified on the Group\u2019s balance sheet as subsequently measured at amortised cost, fair value through other comprehensive income or fair value through profit or loss. This classification is made on the basis of both the Group\u2019s business model for managing the financial assets and the contractual cash flow characteristics of the financial asset. Financial liabilities are classified on the Group\u2019s balance sheet as subsequently measured at amortised cost except for financial liabilities at fair value through profit and noss. The Group may at initial recognition irrevocably designate a financial liability as measured at fair value through profit or loss if a contract contains one or more embedded derivatives and the host is not an asset within the scope of IFRS 9, or when doing so results in more relevant information. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-626": {
"value": "Derivative financial instruments Derivative financial instruments are initially recognised and thereafter held at fair value, being the market value for quoted instruments or valuation based on models and discounted cash flow calculations for unlisted instruments. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-627": {
"value": "Derivative financial instruments Derivative financial instruments are initially recognised and thereafter held at fair value, being the market value for quoted instruments or valuation based on models and discounted cash flow calculations for unlisted instruments. Fair value hedging The Group\u2019s activities expose it primarily wo the financial risks of changes in foreign currency exchange rates and interest rates. The Group uses foreign exchange contracts and interest rate swap contracts to hedge these exposures. The use of financial derivatives is governed by the Group\u2019s Treasury Policies as approved by the Board of Directors, which provides written principles on whe use of derivatives. The Group does not use derivative instruments for speculative purposes. Certain derivative instruments do not qualify for hedge accounting. These are categorised as \u201cfair value through profit or loss\u201d and are stated at fair value, with any resultant main or loss recognised in the income statement. The Group designates certain hedging instruments in respect of foreign currency risk as cash flow hedges. At the inception of whe hedge relationship, the Group documents the relationship between the hedging instrument and the hedged item, along with its risk management objectives and strategy for undertaking various hedging transactions. The Group also documents, both at hedge inception and on an ongoing basis, whether the hedging instrument that is used in a hedging relationshi\u2013 is highly effective in offsetting changes in fair values or cash flows of the hedged item. For the Group\u2019s cash flow hedges of highly probable forecast transactions in foreign currencies, the hedge ratio is 100%, subject to a \u00a3100k de Minimis threshold. If the underlying exposure changes over time, either due to commercial factors or timing differences, the hedging instruments will be rebalanced to ensure that the hedge ratio of 100% is maintained. Cash flow hedging Changes in the fair value of derivatives designated as a cash flow hedge that are regarded as highly effective are recognised in equity. The ineffective portion is recognised immediately in the income statement. Where a hedged item results in an asset or a liability, gains and losses previously recognised in equity are included in the cost of the asset or liability. Gains and losses previously recognised in equity are removed cnd recognised in the income statement at the same time as the hedged transaction. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-628": {
"value": "Fair value hedging The Group\u2019s activities expose it primarily wo the financial risks of changes in foreign currency exchange rates and interest rates. The Group uses foreign exchange contracts and interest rate swap contracts to hedge these exposures. The use of financial derivatives is governed by the Group\u2019s Treasury Policies as approved by the Board of Directors, which provides written principles on whe use of derivatives. The Group does not use derivative instruments for speculative purposes. Certain derivative instruments do not qualify for hedge accounting. These are categorised as \u201cfair value through profit or loss\u201d and are stated at fair value, with any resultant main or loss recognised in the income statement. The Group designates certain hedging instruments in respect of foreign currency risk as cash flow hedges. At the inception of whe hedge relationship, the Group documents the relationship between the hedging instrument and the hedged item, along with its risk management objectives and strategy for undertaking various hedging transactions. The Group also documents, both at hedge inception and on an ongoing basis, whether the hedging instrument that is used in a hedging relationshi\u2013 is highly effective in offsetting changes in fair values or cash flows of the hedged item. For the Group\u2019s cash flow hedges of highly probable forecast transactions in foreign currencies, the hedge ratio is 100%, subject to a \u00a3100k de Minimis threshold. If the underlying exposure changes over time, either due to commercial factors or timing differences, the hedging instruments will be rebalanced to ensure that the hedge ratio of 100% is maintained. Cash flow hedging Changes in the fair value of derivatives designated as a cash flow hedge that are regarded as highly effective are recognised in equity. The ineffective portion is recognised immediately in the income statement. Where a hedged item results in an asset or a liability, gains and losses previously recognised in equity are included in the cost of the asset or liability. Gains and losses previously recognised in equity are removed cnd recognised in the income statement at the same time as the hedged transaction. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-629": {
"value": "Foreign currencies Transactions in foreign currencies are recorded using the rate of exchange tuling at the date of the transaction. Monetary assets and liabilities in foreign currencies are translated at period2end rates. Any resulting exchange differences are taken to the income statement. Gains and losses on designated forward foreign exchange hedging contracts are matched against the foreign exchange movements on the underlying transaction. The individual financial statements of each Group company are presented in its functional currency. On consolidation, assets and liabilities of overseas subsidiaries, associated undertakings and joint ventures, including any related goodwill, are translated to Sterling at the rate of exchange at the balance sheet date. The results and cash flows of overseas subsidiaries, associated undertakings and joint ventures are translated wo Sterling using the average rates of exchange during the period. Exchange adjustments arising from the re2translation of the opening net investment and the results for the period to the period2end rate are taken directly to equity and reported in the statement of comprehensive income. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-630": {
"value": "Post-retirement benefits The Group provides both defined contribution and defined benefit pension arrangements. The liabilities of the Group arising from defined benefit obligations are determined using the projected unit credit method. Valuations for accounting purposes are carried out bi2annually. Actuarial advice is provided by external consultants. For the funded defined benefit plans, the excess or deficit of the fair value of plan assets less the present value of the defined benefit obligation are recognised as an asset or a liability respectively. Per the Scheme rules the Company has an unconditional right to a refund of any surplus that may arise on cessation of the Scheme in the context of IFRIC 14 paragraphs 11(b) and 23 and, therefore, the full net pension asset can be recognised on the Group\u2019s balance sheet and the Group\u2019s minimum funding commitments to the Scheme do not give rise to an additional balance sheet liability. For defined benefit plans the cost charged to the income statement consists of administrative expenses and the net interest income. There is no service cost due to the fact the plans are closed to future accrual. The net interest income is reported within finance income and the administration cost element is charged as a component of operating costs in the income statement. Actuarial gains and losses and re2 measurement gains and losses are recognised immediately in full through the statement of comprehensive income. Contributions wo defined contribution plans are charged to the income statement as incurred. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-631": {
"value": "Share-based payments The Group operates share2based payment arrangements with employees. The fair value of equity2settled awards for share2based payments is determined on grant and expensed straight line over the period from grant to the date of earliest unconditional exercise. The charges for equity settled share2based payments are updated annually for non2market2based vesting conditions. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-632": {
"value": "Share capital Ordinary share capital of the Company is recorded as the proceeds received, less issue costs. Company shares held by the employee benefit trusts are held at the consideration paid. They are classified as own shares within equity. Any gain or loss on the purchase, sale or issue of Company shares is recorded in equity. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-633": {
"value": "Non-controlling interests The Group recognises non2controlling interest in an acquired entity either at fair value or at the non2controlling interest\u2019s proportionate share of the acquired entity\u2019s net identifiable assets. This decision is made on an acquisition2by2acquisition basis. For non2controlling interests that the Gtoup holds, the Group elected to recognise the non2controlling interests at its proportionate share of the acquired net identifiable assets.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-634": {
"value": ".2. Critical accounting estimates and judgments in applying accounting policies Critical accounting estimates The following commentary is intended to highlight key sources of estimation uncertainty that have a significant risk of resulting in a material adjustment to the financial statements in the next financial year. Estimated goodwill impairment The Group tests annually whether goodwill has suffered any impairment. This process relies on the use of estimates of the future profitability and cash flows of its cash generating units which may differ from the actual results delivered. In addition, whe Group reviews whether identified intangible assets have suffered any impairment. Further details on whe sensitivity of whe carrying value of goodwill to changes in the key assumptions are set out in note 14. Estimation of the Group\u2019s defined benefit pension net surplus The Group\u2019s defined benefit pension obligations (and hence the net surplus) are based on key assumptions, including discount rates, mortality and inflation. Management exercises its best judgement, in consultation with actuarial advisors, in selecting the values for these assumptions that are the most appropriate to the Group. Small changes in these assumptions at the balance sheet date, individually or collectively, may result in significant changes in the size of the net surplus/deficit. Further details of these assumptions and the sensitivity of the net pension surplus to changes in these assumptions are set out in note 28. In addition to the sensitivity of the liability side of the net pension surplus (which will impact whe value of the net pension surplus) the net pension surplus is also exposed to significant variation due to changes in the fair value of Scheme assets. A specific sensitivity on assets has not been included in note 28 but any ehange in valuation of assets flows straight through to the value of the net pension surplus e.g. if equities fall by \u00a310m then the net pension surplus falls by \u00a310m. The values of unquoted assets assume that an available buyer is willing to purchase those assets at that value. For the Group\u2019s portfolio of assets, the unquoted alternative bonds of \u00a3256.4m; the unquoted corporate bonds of \u00a3117.6m and the unquoted equities of \u00a332.Am are the assets with most uncertainty as to valuation as at 31 March 2023. Estimated value of tax assets The Group has significant levels of unused US tax losses and US carried forward interest expenses as set out in note 18 giving tise wo potential deferred tax assets. When estimating the appropriate amount that should be tecognised, management consider sources of taxable profits including the reversal of deferred tax liabilities and forecast future profits. This estimate is sensitive to similar factors as goodwill, as set out in note 14 and further described in note 18. Scenarios are modelled to consider sensitivity to these factors (including annual profit levels and growth expectations). Based on these scenarios, it is possible that revisions of these forecasts over the next 12 months could result in \u00a34.1m to \u00a38.6m of the recognised US deferred tax assets not being recoverable. Estimates of costs to complete on long-term contracts The Group has a large number of contracts which span multiple years and are accounted for on a percentage of completion basis in accordance with IFRS 15. Long2term contract accounting requires a number of estimates to be made, particularly in calculating the forecast costs to complete the contract. These forecast costs will be impacted by numerous risks that could crystallise in the future (with a range of cost outcomes), particularly on contracts of a developmental nature. Across the Group\u2019s portfolio of long2term contracts there is a risk that the actual out2turn of these contracts could be materially different than assumed in the year end contract forecasts. For fixed price contracts whe impact of inflation would reduce the contract profitability. As an example, an increase in cost inflation of 1% in one of the Group\u2019s most significant contracts, would increase costs and reduce profit by approximately \u00a31m per annum. However in many cases the contracts include inflation uplift clauses, such that inflation of costs would create additional contract value and revenue, whus resulting in increased profit. Estimated values of acquired intangibles on acquisitions During the year the Group completed two strategic acquisitions. Intangible assets relating to customer relationships, existing technology and trade names were recognised as fair value adjustments to whe opening balance sheets. The most material of whese is the customer relationships intangible within Avantus which was recognised at \u00a3197.5m, per note 15. Customer relationships have been valued based on an income approach using an excess earnings method. The key assumptions are the revenue and profit projections, customer contract retention/attrition assumptions, discount rates and contributory asset charges. Applying different assumptions could result in a materially different customer relationship intangible and a corresponding increase or decrease in the value of Goodwill recognised. Critical accounting judgements Specific, material judgements made by the Directors in applying the Group\u2019s accounting policies are set out below: Basis of consolidation The Group comprises eertain entities what are operated within the terms of a Special Security Arrangement (\u2018SSA\u2019). Details of the SSA and QinetiQ\u2019s management of US subsidiaries are set out in the Corporate Governance section of this Annual Report. IFRS 10 is the accounting standard applicable in respect of consolidation of entities. This does not specifically deal with SSA\u2019s. However, having considered the terms of the SSA, the Directors consider that the Group mgets the requirements of IFRS 10 in respect of control over such affected entities and, therefore, consolidates these gntities in the consolidated accounts. The impact of this specific judgement is full consolidation as opposed to treatment as a 100% associated undertaking. Treatment as a 100% associated undertaking would reduce Group revenue by a material amount (~\u00a3300m per annum) but would have no impact on reported profit, which would include an equivalent amount of profit reported within Other Income as \u2018Share of profits of point ventures and associates\u2019. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
},
"fact-635": {
"value": "Cody Technology Park Ively Road Farnborough Hampshire GU14 0LX",
"dimensions": {
"concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
"language": "en",
"entity": "scheme:213800S8OBDOZMCMUW34",
"period": "2022-04-01T00:00:00/2023-04-01T00:00:00"
}
}
}
}