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"scheme:213800WRDF8LB8MIEX37", "period": "2023-07-01T00:00:00/2024-07-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-283": { "value": "287000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:InterestPaidClassifiedAsFinancingActivities", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-284": { "value": "171000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:InterestPaidClassifiedAsFinancingActivities", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2023-07-01T00:00:00/2024-07-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-285": { "value": "2566000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:PaymentsToAcquireOrRedeemEntitysShares", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-286": { "value": "2150000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:PaymentsToAcquireOrRedeemEntitysShares", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2023-07-01T00:00:00/2024-07-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-287": { "value": "12695000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-288": { "value": "12094000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2023-07-01T00:00:00/2024-07-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-289": { "value": "-25051000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-290": { "value": "-15749000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2023-07-01T00:00:00/2024-07-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-291": { "value": "-4568000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-292": { "value": "-10751000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2023-07-01T00:00:00/2024-07-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-293": { "value": "-6249000.0", "decimals": -3, "dimensions": { "concept": "brooksmacdonaldgroupplc:NetCashFlowsFromDiscontinuedOperations", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-294": { "value": "2128000.0", "decimals": -3, "dimensions": { "concept": "brooksmacdonaldgroupplc:NetCashFlowsFromDiscontinuedOperations", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2023-07-01T00:00:00/2024-07-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-295": { "value": "44732000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-296": { "value": "53355000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2023-07-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-297": { "value": "33915000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2025-07-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-298": { "value": "44732000.0", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-301": { "value": "
1. General information
Brooks Macdonald Group plc (\u201cthe Company\u201d), a public limited company incorporated
and registered in England and Wales and domiciled in the United Kingdom (\u201cUK\u201d) under the
Companies Act 2006, is the Parent Company of a group of companies (collectively the \u201cGroup\u201d)
and offers wealth management and financial planning services in the UK. The Company is listed
on the London Stock Exchange (\u201cLSE\u201d).
The Company\u2019s registration number is 04402058. The address of the registered office is
21 Lombard Street, London, EC3V 9AH, England.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-3": { "value": "Brooks Macdonald Group plc", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-299": { "value": "Brooks Macdonald Group plc", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-4": { "value": "public limited company", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-5": { "value": "England and Wales", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-6": { "value": "United Kingdom", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-7": { "value": "21 Lombard Street, London, EC3V 9AH, England", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-302": { "value": "
2. Basis of preparation
The Group\u2019s consolidated financial statements for the year ended 30 June 2025 have been
prepared in accordance with UK-adopted International Accounting Standards (\u201cIAS\u201d) and with
the requirements of the Companies Act 2006 as applicable to companies reporting under those
standards. These consolidated financial statements have been prepared on a historical cost
basis, except for the revaluation of certain financial instruments that are measured at fair value.
The principal accounting policies adopted are set out below. Unless otherwise stated, they have
been applied consistently to all periods presented in the financial statements.
All amounts in the financial statements have been rounded to the nearest thousand unless
otherwise indicated.
At the time of approving the financial statements, the Directors have a reasonable expectation
that the Company and the Group have adequate resources to continue in operational existence
for the foreseeable future. Accordingly, they continue to adopt the going concern basis in
preparing the financial statements. For further details on the Group\u2019s going concern assessment,
see the Viability statement on page 31 and Audit Committee report on pages 71 to 74. There have
been no post balance sheet events that have materially impacted the Group\u2019s liquidity headroom
and going concern assessment.
There has been an update to the results presented in the restated year ended 2024
result previously disclosed in the interim report and accounts for the six months ended
31 December 2024, which relates to a reclassification of the tax charge between discontinued
and continuing operations. This has resulted in a decrease of \u00a3957,000 in the tax charge
for continuing operations and a corresponding increase in the tax charge for discontinued
operations. The profit after tax and earnings per share for respective continuing and
discontinued operations have also been restated accordingly.
Basis of consolidation
The Group\u2019s financial statements are a consolidation of the financial statements of the
Company and its subsidiaries.
The underlying financial statements of the subsidiaries are prepared for the same reporting
period as the Company, using consistent accounting policies. Subsidiaries and structured entities
are all entities controlled by the Company, deemed to exist where the Company is exposed to,
or has rights to, variable returns from its involvement with the entity and has the ability to affect
those returns through its power over the entity. The financial statements of the subsidiaries
are included from the date on which control is transferred to the Group to the date that
control ceases.
All intercompany transactions and balances between Group companies are eliminated
on consolidation.
The Group has interests in structured entities, with one consolidated structured entity being the
Brooks Macdonald Group Employee Benefit Trust (note 32). The Group has interests in other
structured entities as a result of contractual arrangements arising from the management of assets
on behalf of its clients but are not consolidated as the Group does not commit to financially
support its funds, nor guarantee repayment of any borrowings (note 34). The Group has disclosed
all of its subsidiary undertakings in note 46 of the Company\u2019s Financial statements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-357": { "value": "The Group\u2019s consolidated financial statements for the year ended 30 June 2025 have been prepared in accordance with UK-adopted International Accounting Standards (\u201cIAS\u201d) and with the requirements of the Companies Act 2006 as applicable to companies reporting under those standards. These consolidated financial statements have been prepared on a historical cost basis, except for the revaluation of certain financial instruments that are measured at fair value. The principal accounting policies adopted are set out below. Unless otherwise stated, they have been applied consistently to all periods presented in the financial statements. ", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-358": { "value": "Basis of consolidation The Group\u2019s financial statements are a consolidation of the financial statements of the Company and its subsidiaries. The underlying financial statements of the subsidiaries are prepared for the same reporting period as the Company, using consistent accounting policies. Subsidiaries and structured entities are all entities controlled by the Company, deemed to exist where the Company is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The financial statements of the subsidiaries are included from the date on which control is transferred to the Group to the date that control ceases. All intercompany transactions and balances between Group companies are eliminated on consolidation. The Group has interests in structured entities, with one consolidated structured entity being the Brooks Macdonald Group Employee Benefit Trust (note 32). The Group has interests in other structured entities as a result of contractual arrangements arising from the management of assets on behalf of its clients but are not consolidated as the Group does not commit to financially support its funds, nor guarantee repayment of any borrowings (note 34). The Group has disclosed all of its subsidiary undertakings in note 46 of the Company\u2019s Financial statements.", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-303": { "value": "
3. New standards, amendments to standards and
interpretations adopted by the Group in the year
In the year ended 30 June 2025, the Group did not adopt any new standards or amendments
issued by the International Accounting Standards Board (\u201cIASB\u201d) or interpretations by the
International Financial Reporting Standards Interpretations Committee (\u201cIFRS IC\u201d) that have had
a material impact on the consolidated financial statements.
Certain new accounting standards, amendments to accounting standards and interpretations
have been published that are not mandatory for the 30 June 2025 reporting periods and have
not been early adopted by the Group.
Effective
Standard, amendment or interpretation date
Amendments to IAS 21 regarding lack of exchangeability
1 January 2025
Amendments IFRS 9 and IFRS 7 regarding the classification and
measurement of financial instruments
1 January 2026
Annual Improvements to IFRS Accounting Standards \u2014 Volume 11
1 January 2026
IFRS 18 Presentation and Disclosures in Financial Statements
1 January 2027
IFRS 19 Subsidiaries without Public Accountability: Disclosures
1 January 2027
The Group is currently assessing the impact that the adoption of the above standards and
amendments will have on the Group\u2019s results reported within the financial statements.
IFRS 18 Presentation and Disclosures in Financial Statements
IFRS 18 includes requirements for all entities applying IFRS for the presentation and disclosure
of information in the financial statements. The standard aims to improve how companies
communicate in their financial statements, with a focus on information about financial
performance in the statement of comprehensive income. IFRS 18 replaces IAS 1 Presentation of
Financial Statements, although the standard is not yet endorsed by the UK Endorsement Board.
IFRS 18 is expected to have a significant impact on the Group\u2019s financial statements, although it is
only expected to have an impact on the presentation and disclosure of the financial statements
and is not expected to have an impact on recognition and measurement.
IFRS 19 Subsidiaries without Public Accountability: Disclosures
IFRS 19 specifies the reduced disclosure requirements an eligible subsidiary is permitted to apply
instead of the disclosure requirements in other IFRS standards. The standard is not yet endorsed
by the UK Endorsement Board and is not expected to impact the Group\u2019s financial statements.
4(v) Changes in accounting policy During the financial year, the Group revised its accounting policy for the presentation of equity entries arising from share-based payment transactions. Previously, the credit entry for share-based payment charges was recognised in the share-based payment reserve. Under the revised policy, the Group now recognises this credit directly in retained earnings. The change was made to better reflect the nature of the expense as part of the Group\u2019s accumulated profits and losses, and to align with common industry practice. The change in policy has been applied retrospectively in accordance with IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors. As a result, comparative figures have been restated, and an adjustment has been made to the opening balance of equity as at the beginning of the earliest comparative period.", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-359": { "value": "3. New standards, amendments to standards and interpretations adopted by the Group in the year In the year ended 30 June 2025, the Group did not adopt any new standards or amendments issued by the International Accounting Standards Board (\u201cIASB\u201d) or interpretations by the International Financial Reporting Standards Interpretations Committee (\u201cIFRS IC\u201d) that have had a material impact on the consolidated financial statements. Certain new accounting standards, amendments to accounting standards and interpretations have been published that are not mandatory for the 30 June 2025 reporting periods and have not been early adopted by the Group.
Effective
Standard, amendment or interpretation date
Amendments to IAS 21 regarding lack of exchangeability
1 January 2025
Amendments IFRS 9 and IFRS 7 regarding the classification and
measurement of financial instruments
1 January 2026
Annual Improvements to IFRS Accounting Standards \u2014 Volume 11
1 January 2026
IFRS 18 Presentation and Disclosures in Financial Statements
1 January 2027
IFRS 19 Subsidiaries without Public Accountability: Disclosures
1 January 2027
The Group is currently assessing the impact that the adoption of the above standards and amendments will have on the Group\u2019s results reported within the financial statements. ", "dimensions": { "concept": "ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-360": { "value": "IFRS 18 Presentation and Disclosures in Financial Statements IFRS 18 includes requirements for all entities applying IFRS for the presentation and disclosure of information in the financial statements. The standard aims to improve how companies communicate in their financial statements, with a focus on information about financial performance in the statement of comprehensive income. IFRS 18 replaces IAS 1 Presentation of Financial Statements, although the standard is not yet endorsed by the UK Endorsement Board. IFRS 18 is expected to have a significant impact on the Group\u2019s financial statements, although it is only expected to have an impact on the presentation and disclosure of the financial statements and is not expected to have an impact on recognition and measurement. IFRS 19 Subsidiaries without Public Accountability: Disclosures IFRS 19 specifies the reduced disclosure requirements an eligible subsidiary is permitted to apply instead of the disclosure requirements in other IFRS standards. The standard is not yet endorsed by the UK Endorsement Board and is not expected to impact the Group\u2019s financial statements. ", "dimensions": { "concept": "ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-300": { "value": "
4. Material accounting policies
The accounting policies applied in the preparation of these financial statements are set
out below. These policies have been applied consistently to all years presented, unless
otherwise stated.
4(a) Critical accounting estimates and significant judgements
The preparation of financial information requires the use of assumptions, estimates and
judgements about future conditions. Use of currently available information and application of
judgement are inherent in the formation of estimates. Actual results in the future may differ from
those reported. In this regard, the Directors believe that the areas where critical accounting
estimations are used, relate to the measurement of intangible assets, assumptions used in
the goodwill impairment reviews and the measurement of contingent deferred consideration
receivable/payable. There are no areas of significant judgement that have been identified.
The consolidated financial statements include other areas of judgement and accounting
estimates. Whilst these areas do not meet the definition under IAS 1 of significant accounting
estimates or critical accounting judgements, the recognition and measurement of certain material
assets and liabilities are based on assumptions and/or are subject to longer-term uncertainties.
The underlying assumptions and estimates are reviewed on an ongoing basis. Revisions to
accounting estimates are recognised in the financial year in which the estimate is revised only
if the revision affects both current and future periods.
Further information about critical accounting estimates and sources of estimation uncertainty
are set out below.
Intangible assets \u2013 client relationship contracts and goodwill impairment reviews
The Group has acquired client relationships and the associated investment management and
financial advice contracts as part of business combinations, through separate purchase or with
newly employed teams of fund managers, as described in note 17. In assessing the fair value of
these assets, the Group has estimated their finite life based on information about the typical
length of existing client relationships. Acquired client relationship contracts are amortised on
a straight-line basis over their estimated useful lives, ranging from six to twenty years.
If the useful economic lives of the client relationship intangible assets held by the Group at
30 June 2025 were to reduce by two years, the estimated charge would have increased by
\u00a31,263,000.
Goodwill recognised as part of a business combination is not amortised but instead reviewed
annually for impairment, or when a change in circumstances indicates that it might be impaired.
The recoverable amounts of cash-generating units (\u201cCGUs\u201d) are determined by value-in-use
calculations, which require the use of estimates to derive the projected future cash flows
attributable to each unit. Details of the more significant assumptions and sensitivity analysis
are given in note 17.
In assessing the value of client relationships and the associated investment management
and financial advice contracts and goodwill, the Group prepares forecasts for the cash flows
acquired and discounts to a net present value. The key assumptions in these forecasts are the
pre-tax discount rate and projected revenue growth. The pre-tax discount rate is adjusted from
a post-tax discount rate derived from the Group\u2019s weighted average cost of capital (\u201cWACC\u201d),
adjusted for any specific risks for the relevant CGU. The Group uses the capital asset pricing
model (\u201cCAPM\u201d) to estimate the WACC, which is calculated at the point of acquisition for a
business combination, or the relevant reporting period date. Key inputs include the risk-free
rate, market risk premium, the Group\u2019s adjusted beta with reference to beta data from peer-
listed companies, small company premium and any risk-adjusted premium for the relevant CGU.
Further details on discount rates used for each CGU are provided in note 17.
Deferred contingent consideration receivable and payable
Deferred contingent consideration arose during the year in connection with the Group\u2019s
acquisition and disposal activities. These amounts represent portions of the transaction price
that are payable or receivable at a future date, subject to the achievement of specific conditions
or milestones. These typically include performance targets, client retention thresholds, or other
contractual criteria agreed between the parties.
Deferred contingent consideration payable and receivable is measured at fair value and
recognised within net finance income in the consolidated statement of comprehensive income
in each reporting period.
The fair values of deferred contingent consideration at both the acquisition and disposal
dates were determined using discounted cash flow models. These models incorporate
management\u2019s expectations regarding the likelihood of meeting specified performance targets
and client retention criteria, and apply an appropriate discount rate. The valuation of contingent
consideration represents a critical accounting estimate due to the inherent uncertainty in
forecasting future outcomes. Changes in expected future cash flows could materially impact the
fair value measurement.
As at the reporting date, the Group reassessed the fair value of all deferred contingent
consideration arrangements. For acquired businesses, if performance exceeds the forecasts by
10%, an additional charge of \u00a30.2 million would be recognised in the statement of comprehensive
income. Conversely, if performance is 10% below forecast, a gain of \u00a30.4 million would be
recognised. Similarly, for disposed businesses, if achievement of performance targets exceeds
the forecasts by 5%, this would result in an additional gain of \u00a33.2 million. While a 5% under
performance versus those targets would lead to a charge of \u00a34.8 million.
These valuations are subject to estimation and uncertainty, and actual outcomes may differ from
those assumed, potentially resulting in material adjustments in future periods.
4(b) Discontinued operations
The Group completed the sale of its International operations, which comprised Brooks
Macdonald Asset Management (International) Limited and its wholly-owned subsidiaries (\u201cBMI\u201d),
on 21 February 2025. In accordance with IFRS 5 \u2018Non-current assets held for sale and discontinued
operations\u2019, the results of BMI have been reclassified as discontinued operations in these
consolidated financial statements.
Additionally, Brooks Macdonald Asset Management Limited resigned as investment manager
to the SVS Brooks Macdonald Defensive Capital Fund (\u201cDCF\u201d) (subsequently renamed SVS
RM Defensive Capital Fund) on 31 October 2024 and accordingly, the results have also been
reclassified as discontinued operations in these consolidated financial statements.
Consistent with IFRS 5 requirements, profit after tax attributable to the discontinued operations
in 2025 has been shown in a single line in the income statement with 2024 comparatives being
restated accordingly and includes the gain from the disposal, with further analysis provided in
note 13. Related notes have also been prepared on this basis.
IFRS 5 does not permit the comparative 30 June 2024 and 1 July 2023 statement of financial
position to be re-presented, as BMI and DCF were not reclassified as held for sale at these dates.
Profit from the discontinued operations up to the date of disposal is presented in the
consolidated statement of comprehensive income after the elimination of intragroup
transactions within continuing operations. The statement of cash flows is presented for
continuing operations only, excluding intragroup cash flows with the discontinued operations up
to the date disposal. The cash flow from discontinued operations is presented in note 13.
4(c) Business combinations
Business combinations are accounted for using the acquisition method. The cost of an
acquisition is measured at the fair value of the aggregate amount of the consideration transferred
at the acquisition date, irrespective of the extent of any minority interest. Acquisition and
integration-related costs are charged to the consolidated statement of comprehensive income
when incurred.
When the Group acquires a business, it assesses the assets and liabilities assumed for
appropriate classification and designation in accordance with the contractual terms, economic
circumstances and pertinent conditions at the acquisition date. If the business combination is
achieved in stages, the fair value of the Group\u2019s previously held equity interest is remeasured at
the acquisition date and the difference is credited or charged to the consolidated statement of
comprehensive income. Identifiable assets and liabilities assumed on acquisition are recognised
in the consolidated statement of financial position at their fair value at the date of acquisition.
Any deferred contingent consideration to be paid by the Group to the vendor is recognised at
its fair value at the acquisition date, in accordance with IFRS 9. Subsequent changes based on the
revised estimated fair value of deferred contingent consideration are recognised in accordance
with IFRS 9 by revaluing the liability on the consolidated statement of financial position and the
associated amount recognised in the consolidated statement of comprehensive income.
Goodwill is initially measured at cost, being the excess of the consideration transferred over the
acquired company\u2019s net identifiable assets and liabilities assumed.
Impairment
Goodwill and other intangible assets with an indefinite life are tested annually or more frequently
if events or changes in circumstances indicate that they might be impaired. For the purposes
of impairment testing, goodwill acquired in a business combination is allocated to each of the
Group\u2019s CGUs that are expected to benefit from the combination, irrespective of whether
other assets or liabilities of the acquisition are assigned to those units. The carrying amount of
each CGU is compared to its recoverable amount, which relates to the higher of an asset\u2019s fair
value less costs of disposals and value in use. This is determined using a discounted future cash
flow model.
Where goodwill forms part of a CGU and part of the operation within that unit is disposed of,
the goodwill associated with the operation disposed of is included in the carrying amount of the
operation when determining the gain or loss on disposal of the operation. Goodwill disposed of
in this circumstance is measured based on the relative values of the operation disposed of and
the portion of the CGU retained.
4(d) Revenue
Investment management fees
Revenue from investment management services is recognised over time as the services are
provided. Fees are typically billed monthly or quarterly in arrears and are calculated based
on a percentage of the portfolio value, either daily or at the billing date, depending on the
underlying product. The performance obligation is satisfied continuously over the service period,
and revenue is recognised accordingly. Revenue from investment management fees is only
recognised as the performance obligation is satisfied. Amounts are presented net of any rebates
or discounts provided to clients.
Fund management fees
Revenue from fund management services provided to open-ended investment companies
(\u201cOEICs\u201d) is recognised over time as the services are provided. Fees are billed monthly in arrears
and are calculated daily based on a fixed percentage of each fund\u2019s net asset value. As such,
fund management fees include variable consideration but there is no significant estimation or
level of judgement involved. The performance obligation is satisfied continuously throughout
the reporting period, and revenue is recognised accordingly. Amounts are presented net of any
rebates or discounts provided to investors.
Financial planning
Financial planning income relates to fees for the provision of financial advice. Fees are charged
to clients either using an hourly rate, by a fixed fee arrangement, or by a fund-based arrangement
whereby fees are calculated based on a percentage of the value of the portfolio at the billing
date. All fees are recognised over the period the service is provided.
Transactional income and foreign exchange trading
Transactional income is earned through dealing and administration charges levied on trades
at the time a deal is placed for a client. Fees are calculated based on a percentage of the
individual trade value or a flat charge per trade. Revenue is recognised at the point of the trade
being placed.
Foreign exchange trading fees are charged on client trades placed in non-base currencies, which
therefore require a foreign currency exchange to action the trade. Revenue is recognised at the
point of the trade being placed.
Interest income
Interest income on client money is the revenue earned on uninvested cash deposits held by
clients. The amount recognised correlates with fluctuations in underlying interest rates and is
recognised over time, based on balances held in investment accounts under administration.
4(e) Cash and cash equivalents
Cash comprises cash in hand and call deposits held with banks. Cash equivalents comprise
short-term, highly liquid investments that are subject to an insignificant risk of change in value and
with a maturity of less than three months from the date of acquisition. Cash and cash equivalents
are classified at amortised cost, as the business model of these assets is to hold to collect
contractual cash flows, which consist solely of payments of principal and interest. They are
initially recognised at fair value and subsequently measured at amortised cost using the effective
interest rate (\u201cEIR\u201d) method.
4(f) Share-based payments
The Group operates a number of share incentive plans for its employees. These involve an award
of shares or options in the Group (share-based payments).
The fair value of the services received is measured by reference to the fair value of the shares or
share options on the grant date. Fair value is measured using the Black\u2013Scholes model.
The fair value determined at the grant date of the equity-settled share-based payments is
expensed on a straight-line basis over the vesting period, based on the Group\u2019s estimate of
shares that will eventually vest. At each reporting date, the Group revises its estimate of the
number of equity instruments expected to vest as a result of the effect of non-market-based
vesting conditions. The impact of the revision of the original estimates, if any, is recognised in the
consolidated statement of comprehensive income, such that the cumulative expense reflects the
revised estimate, with a corresponding adjustment to reserves.
4(g) Segmental reporting
The Group determines and presents operating segments based on the information that is
provided internally to the Group Board of Directors, which is the Group\u2019s chief operating
decision maker.
4(h) Fiduciary activities
The Group commonly acts as trustee and in other fiduciary capacities that result in the holding
or placing of assets on behalf of individuals, trusts, retirement benefit plans and other institutions.
These assets and income arising thereon are excluded from these financial statements, as they
are not assets of the Group.
The Group holds money on behalf of some clients in accordance with the client money rules of
the Financial Conduct Authority (\u201cFCA\u201d). Such monies and the corresponding liability to clients
are not included within the consolidated statement of financial position as the Group is not
beneficially entitled thereto.
4(i) Property, plant and equipment
All property, plant and equipment is included in the consolidated statement of financial position
at historical cost less accumulated depreciation and impairment. Costs include the original
purchase cost of the asset and the costs attributable to bringing the asset into a working
condition for its intended use.
Provision is made for depreciation to write off the cost less estimated residual value of
each asset, and is charged to administrative expenses in the consolidated statement of
comprehensive income using a straight-line method, over its expected useful life as follows:
\u2013 Leasehold improvements \u2013 over the lease term
\u2013 Fixtures, fittings and office equipment \u2013 five years
\u2013 IT equipment \u2013 four or five years
The assets\u2019 residual values and useful economic lives are reviewed and adjusted, if appropriate,
at the end of each reporting period. Gains and losses arising on disposal are determined by
comparing the proceeds with the carrying amount. These are included in the consolidated
statement of comprehensive income.
4(j) Intangible assets
Amortisation of intangible assets is charged to administrative expenses in the consolidated
statement of comprehensive income on a straight-line basis over the estimated useful lives
of the assets.
Acquired client relationship contracts
Intangible assets are recognised where client relationship contracts are either separately
acquired or acquired with investment managers who are employed by the Group. These are
initially recognised at cost and are subsequently amortised on a straight-line basis over their
estimated useful economic life. Separately acquired client relationship contracts are amortised
over six to twenty years. The intangible assets are reviewed annually to determine whether
there exists an indicator of impairment or an indicator that the assumed useful economic life
has changed.
Computer software
Costs incurred on internally developed computer software are initially recognised at cost, and
when the software is available for use, the costs are amortised on a straight-line basis over
an estimated useful life of either four years or the contract term ranging between three and
eight years. Initial research and planning costs incurred prior to a decision to proceed with
the software\u2019s development are recognised immediately in the consolidated statement of
comprehensive income.
Goodwill
Goodwill arising as part of a business combination is initially measured at cost, being the excess
of the fair value of the consideration transferred over the Group\u2019s interest in the net fair value
of the separately identifiable assets, liabilities and contingent liabilities of the subsidiary at the
date of acquisition. In accordance with IFRS 3 \u2018Business Combinations\u2019, goodwill is not amortised
but is reviewed annually for impairment and is therefore stated at cost less any provision for
impairment of value. Any impairment is recognised immediately in the consolidated statement
of comprehensive income and is not subsequently reversed. Gains and losses on the disposal of
an entity include the carrying amount of goodwill relating to the entity sold. On acquisition, any
goodwill acquired is allocated to CGUs for the purposes of impairment testing. If the cost of the
acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference
is recognised directly in the consolidated statement of comprehensive income as a gain on
bargain purchase.
4(k) Financial investments
The Group classifies financial assets in the following categories: fair value through profit or
loss; fair value through other comprehensive income; and amortised cost. The classification is
determined by management on initial recognition of the financial asset, which depends on the
purpose for which it was acquired and the nature of the cash flows.
Fair value through profit or loss
Financial investments are classified as fair value through profit or loss if they are either held for
trading or specifically designated in this category on initial recognition. Assets in this category are
initially recognised at fair value and subsequently remeasured, with gains or losses arising from
changes in fair value being recognised in the consolidated statement of comprehensive income.
Financial assets at fair value through profit or loss include investments in regulated OEICs, which
are managed and evaluated on a fair value basis in line with the market value.
Fair value through other comprehensive income
Financial investments are classified as fair value through other comprehensive income if the
objective of the business model is achieved by both collecting contractual cash flows and selling
financial assets and if the asset\u2019s contractual cash flows represent solely payments of principal
and interest. Assets in this category are initially recognised at fair value and subsequently
remeasured, with gains or losses arising from changes in fair value being recognised in other
comprehensive income.
Financial assets at fair value through other comprehensive income relates to an investment in
redeemable preference shares, which satisfy the definition above due to being held to collect
contractual cash flows via an annual fixed preferential dividend.
Amortised cost
Financial instruments are classified as amortised cost if the asset is held to collect contractual
cash flows and the asset\u2019s contractual cash flows represent solely payments of principal and
interest. Disposals of instruments held at amortised cost are not part of regular business practice,
however one-off instances may occur due to significant events, although they do not alter the
existing business model, which remains focused on collecting contractual cash flows. In assessing
whether the \u2018held to collect\u2019 model remains appropriate, management considers the frequency
and volume of disposals in relation to the total portfolio and disposals are disclosed in the
financial statements, including the rationale for the transaction.
4(l) Foreign currency translation
The Group\u2019s functional and presentational currency is Pound Sterling (\u201c\u00a3\u201d). Foreign currency
transactions are translated using the exchange rate prevailing at the transaction date. At the
reporting date, monetary assets and liabilities that are denominated in foreign currencies are
retranslated at the prevailing rates on that date. Foreign exchange gains and losses resulting from
the settlement of such transactions, and from the translation of period-end monetary assets and
liabilities, are recognised in the consolidated statement of comprehensive income.
4(m) Retirement benefit costs
Contributions in respect of the Group\u2019s defined contribution pension scheme are charged to the
consolidated statement of comprehensive income as they fall due.
4(n) Taxation
Tax on the profit for the financial year comprises current and deferred tax. Current tax is the
expected tax payable on the taxable income for the financial year, using tax rates enacted, or
substantively enacted, at the reporting date, and any adjustment to tax payable in respect of
previous years.
Deferred 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 Group\u2019s Financial
statements. Deferred tax assets and liabilities are measured at the tax rates that are expected to
apply to the period when the asset is realised or the liability settled based on tax rates (and laws)
that have been enacted, or substantively enacted, at the reporting date.
Deferred tax assets are only recognised to the extent that it is probable that future taxable profit
will be available against which the temporary differences can be utilised.
Deferred tax balances are presented on the consolidated statement of financial position as the
net deferred tax balance by each jurisdiction the Group operates within. The gross deferred tax
assets and liabilities are disclosed within the deferred tax in note 27.
4(o) Trade receivables
Trade receivables represent amounts due for services performed in the ordinary course of
business. They are recognised in trade and other receivables and, if collection is expected within
one year, they are recognised as a current asset. If collection is expected in greater than one year,
they are recognised as a non-current asset. Trade receivables are measured at amortised cost
less any expected credit losses.
4(p) Right-of-use assets and lease liabilities
Right-of-use assets are initially recognised at cost which is measured at the initial amount of
the lease liability, reduced for any lease incentives received and increased for lease payments
made at or before commencement of the lease, initial direct costs incurred and the amount of
any provision recognised where the Group is required to dismantle, remove or restore the asset.
Additionally, they may be re-measured to reflect reassessment due to lease modifications.
The right-of-use asset is subsequently depreciated using the straight-line method from the
commencement date to the end of the lease term. Additionally, the right-of-use asset is
periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of
the lease liability.
The Group initially records a lease liability reflecting the present value of the future contractual
cash flows to be made over the lease term, discounted using the Group\u2019s incremental borrowing
rate. Interest is accrued on the lease liability using the effective interest rate method to give a
constant rate of return over the life of the lease whilst the balance is reduced as lease payments
are made.
If the Group revises its estimate of the term of any lease, it will adjust the carrying amount of
the lease liability to reflect the payments to be made over the revised term, discounted at the
revised discount rate. An equivalent adjustment is made to the carrying value of the right-of-use
asset, with the revised carrying amount being amortised over the remaining (revised) lease term.
4(q) Trade payables
Trade payables are obligations to pay for goods or services that have been acquired in the
ordinary course of business from suppliers. These are classified as current liabilities if payment
is due within one year or less. Otherwise, they are presented as non-current liabilities in the
consolidated statement of financial position.
Trade payables are initially recognised at fair value and subsequently measured at amortised cost
using the effective interest method.
4(r) Employee Benefit Trust (\u201cEBT\u201d)
The EBT is considered to be a structured entity, as defined in note 32. In substance, the activities
of the trust are being conducted on behalf of the Group according to its specific business needs,
to obtain benefits from its operation. On this basis, the assets held by the trust are consolidated
into the Group\u2019s financial statements.
The Company provides finance to an EBT to purchase the Company\u2019s shares on the open market
in order to meet its obligation to provide shares when an employee exercises certain options or
awards made under the Group\u2019s share-based payment schemes. The administration and finance
costs connected with the EBT are charged to the consolidated statement of comprehensive
income. The cost of the shares held by the EBT is deducted from equity. A transfer is made
between other reserves and retained earnings over the vesting periods of the related share
options or awards to reflect the ultimate proceeds receivable from employees on exercise.
The trustees have waived their rights to receive dividends on the shares held by the EBT.
4(s) Share capital
Ordinary share capital is classified as equity. Incremental costs directly attributable to the
issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from
the proceeds.
Where the Company purchases its own equity share capital (treasury shares), the consideration
paid, including any directly incremental costs (i.e. net of income taxes) is deducted from equity
attributable to the Company\u2019s equity holders until the shares are cancelled or reissued. Where
such ordinary shares are subsequently reissued, any consideration received (net of any directly
attributable incremental transaction costs and the related income tax effects) is included within
equity attributable to the Company\u2019s equity holders.
The share buyback programme, initiated during the financial year, repurchased shares on the
open market and upon cancellation, the par value is transferred from the share capital to the
capital redemption reserve of the Company, with the remaining amount reducing retained
earnings. No gain or loss is recorded in the income statement as a result of this programme.
4(t) Dividend distribution
The dividend distribution to the Company\u2019s shareholders is recognised as a liability in the
Group\u2019s financial statements in the period in which the dividend is authorised and no longer at
the discretion of the Company. Final dividends are recognised when approved by the Company\u2019s
shareholders at the Annual General Meeting and interim dividends are recognised when paid.
4(u) Other non-operating income
Other non-operating income is that which is material by size and/or irregular in nature and
therefore requires separate disclosure within the consolidated statement of comprehensive
income to assist the users of the consolidated financial statements in understanding the business
performance of the Group.
4(v) Changes in accounting policy
During the financial year, the Group revised its accounting policy for the presentation of
equity entries arising from share-based payment transactions. Previously, the credit entry for
share-based payment charges was recognised in the share-based payment reserve. Under the
revised policy, the Group now recognises this credit directly in retained earnings. The change
was made to better reflect the nature of the expense as part of the Group\u2019s accumulated
profits and losses, and to align with common industry practice. The change in policy has
been applied retrospectively in accordance with IAS 8 Accounting Policies, Changes in
Accounting Estimates and Errors. As a result, comparative figures have been restated, and an
adjustment has been made to the opening balance of equity as at the beginning of the earliest
comparative period.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-304": { "value": "4(a) Critical accounting estimates and significant judgements The preparation of financial information requires the use of assumptions, estimates and judgements about future conditions. Use of currently available information and application of judgement are inherent in the formation of estimates. Actual results in the future may differ from those reported. In this regard, the Directors believe that the areas where critical accounting estimations are used, relate to the measurement of intangible assets, assumptions used in the goodwill impairment reviews and the measurement of contingent deferred consideration receivable/payable. There are no areas of significant judgement that have been identified. The consolidated financial statements include other areas of judgement and accounting estimates. Whilst these areas do not meet the definition under IAS 1 of significant accounting estimates or critical accounting judgements, the recognition and measurement of certain material assets and liabilities are based on assumptions and/or are subject to longer-term uncertainties. The underlying assumptions and estimates are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the financial year in which the estimate is revised only if the revision affects both current and future periods. Further information about critical accounting estimates and sources of estimation uncertainty are set out below. Intangible assets \u2013 client relationship contracts and goodwill impairment reviews The Group has acquired client relationships and the associated investment management and financial advice contracts as part of business combinations, through separate purchase or with newly employed teams of fund managers, as described in note 17. In assessing the fair value of these assets, the Group has estimated their finite life based on information about the typical length of existing client relationships. Acquired client relationship contracts are amortised on a straight-line basis over their estimated useful lives, ranging from six to twenty years. If the useful economic lives of the client relationship intangible assets held by the Group at 30 June 2025 were to reduce by two years, the estimated charge would have increased by \u00a31,263,000. Goodwill recognised as part of a business combination is not amortised but instead reviewed annually for impairment, or when a change in circumstances indicates that it might be impaired. The recoverable amounts of cash-generating units (\u201cCGUs\u201d) are determined by value-in-use calculations, which require the use of estimates to derive the projected future cash flows attributable to each unit. Details of the more significant assumptions and sensitivity analysis are given in note 17. In assessing the value of client relationships and the associated investment management and financial advice contracts and goodwill, the Group prepares forecasts for the cash flows acquired and discounts to a net present value. The key assumptions in these forecasts are the pre-tax discount rate and projected revenue growth. The pre-tax discount rate is adjusted from a post-tax discount rate derived from the Group\u2019s weighted average cost of capital (\u201cWACC\u201d), adjusted for any specific risks for the relevant CGU. The Group uses the capital asset pricing model (\u201cCAPM\u201d) to estimate the WACC, which is calculated at the point of acquisition for a business combination, or the relevant reporting period date. Key inputs include the risk-free rate, market risk premium, the Group\u2019s adjusted beta with reference to beta data from peer- listed companies, small company premium and any risk-adjusted premium for the relevant CGU. Further details on discount rates used for each CGU are provided in note 17. Deferred contingent consideration receivable and payable Deferred contingent consideration arose during the year in connection with the Group\u2019s acquisition and disposal activities. These amounts represent portions of the transaction price that are payable or receivable at a future date, subject to the achievement of specific conditions or milestones. These typically include performance targets, client retention thresholds, or other contractual criteria agreed between the parties. Deferred contingent consideration payable and receivable is measured at fair value and recognised within net finance income in the consolidated statement of comprehensive income in each reporting period. The fair values of deferred contingent consideration at both the acquisition and disposal dates were determined using discounted cash flow models. These models incorporate management\u2019s expectations regarding the likelihood of meeting specified performance targets and client retention criteria, and apply an appropriate discount rate. The valuation of contingent consideration represents a critical accounting estimate due to the inherent uncertainty in forecasting future outcomes. Changes in expected future cash flows could materially impact the fair value measurement. As at the reporting date, the Group reassessed the fair value of all deferred contingent consideration arrangements. For acquired businesses, if performance exceeds the forecasts by 10%, an additional charge of \u00a30.2 million would be recognised in the statement of comprehensive income. Conversely, if performance is 10% below forecast, a gain of \u00a30.4 million would be recognised. Similarly, for disposed businesses, if achievement of performance targets exceeds the forecasts by 5%, this would result in an additional gain of \u00a33.2 million. While a 5% under performance versus those targets would lead to a charge of \u00a34.8 million. These valuations are subject to estimation and uncertainty, and actual outcomes may differ from those assumed, potentially resulting in material adjustments in future periods. ", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-361": { "value": "4(b) Discontinued operations The Group completed the sale of its International operations, which comprised Brooks Macdonald Asset Management (International) Limited and its wholly-owned subsidiaries (\u201cBMI\u201d), on 21 February 2025. In accordance with IFRS 5 \u2018Non-current assets held for sale and discontinued operations\u2019, the results of BMI have been reclassified as discontinued operations in these consolidated financial statements. Additionally, Brooks Macdonald Asset Management Limited resigned as investment manager to the SVS Brooks Macdonald Defensive Capital Fund (\u201cDCF\u201d) (subsequently renamed SVS RM Defensive Capital Fund) on 31 October 2024 and accordingly, the results have also been reclassified as discontinued operations in these consolidated financial statements. Consistent with IFRS 5 requirements, profit after tax attributable to the discontinued operations in 2025 has been shown in a single line in the income statement with 2024 comparatives being restated accordingly and includes the gain from the disposal, with further analysis provided in note 13. Related notes have also been prepared on this basis. IFRS 5 does not permit the comparative 30 June 2024 and 1 July 2023 statement of financial position to be re-presented, as BMI and DCF were not reclassified as held for sale at these dates. Profit from the discontinued operations up to the date of disposal is presented in the consolidated statement of comprehensive income after the elimination of intragroup transactions within continuing operations. The statement of cash flows is presented for continuing operations only, excluding intragroup cash flows with the discontinued operations up to the date disposal. The cash flow from discontinued operations is presented in note 13. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-305": { "value": "4(b) Discontinued operations The Group completed the sale of its International operations, which comprised Brooks Macdonald Asset Management (International) Limited and its wholly-owned subsidiaries (\u201cBMI\u201d), on 21 February 2025. In accordance with IFRS 5 \u2018Non-current assets held for sale and discontinued operations\u2019, the results of BMI have been reclassified as discontinued operations in these consolidated financial statements. Additionally, Brooks Macdonald Asset Management Limited resigned as investment manager to the SVS Brooks Macdonald Defensive Capital Fund (\u201cDCF\u201d) (subsequently renamed SVS RM Defensive Capital Fund) on 31 October 2024 and accordingly, the results have also been reclassified as discontinued operations in these consolidated financial statements. Consistent with IFRS 5 requirements, profit after tax attributable to the discontinued operations in 2025 has been shown in a single line in the income statement with 2024 comparatives being restated accordingly and includes the gain from the disposal, with further analysis provided in note 13. Related notes have also been prepared on this basis. IFRS 5 does not permit the comparative 30 June 2024 and 1 July 2023 statement of financial position to be re-presented, as BMI and DCF were not reclassified as held for sale at these dates. Profit from the discontinued operations up to the date of disposal is presented in the consolidated statement of comprehensive income after the elimination of intragroup transactions within continuing operations. The statement of cash flows is presented for continuing operations only, excluding intragroup cash flows with the discontinued operations up to the date disposal. The cash flow from discontinued operations is presented in note 13. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDiscontinuedOperationsExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-362": { "value": "4(c) Business combinations Business combinations are accounted for using the acquisition method. The cost of an acquisition is measured at the fair value of the aggregate amount of the consideration transferred at the acquisition date, irrespective of the extent of any minority interest. Acquisition and integration-related costs are charged to the consolidated statement of comprehensive income when incurred. When the Group acquires a business, it assesses the assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions at the acquisition date. If the business combination is achieved in stages, the fair value of the Group\u2019s previously held equity interest is remeasured at the acquisition date and the difference is credited or charged to the consolidated statement of comprehensive income. Identifiable assets and liabilities assumed on acquisition are recognised in the consolidated statement of financial position at their fair value at the date of acquisition. Any deferred contingent consideration to be paid by the Group to the vendor is recognised at its fair value at the acquisition date, in accordance with IFRS 9. Subsequent changes based on the revised estimated fair value of deferred contingent consideration are recognised in accordance with IFRS 9 by revaluing the liability on the consolidated statement of financial position and the associated amount recognised in the consolidated statement of comprehensive income. Goodwill is initially measured at cost, being the excess of the consideration transferred over the acquired company\u2019s net identifiable assets and liabilities assumed. Impairment Goodwill and other intangible assets with an indefinite life are tested annually or more frequently if events or changes in circumstances indicate that they might be impaired. For the purposes of impairment testing, goodwill acquired in a business combination is allocated to each of the Group\u2019s CGUs that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquisition are assigned to those units. The carrying amount of each CGU is compared to its recoverable amount, which relates to the higher of an asset\u2019s fair value less costs of disposals and value in use. This is determined using a discounted future cash flow model. Where goodwill forms part of a CGU and part of the operation within that unit is disposed of, the goodwill associated with the operation disposed of is included in the carrying amount of the operation when determining the gain or loss on disposal of the operation. Goodwill disposed of in this circumstance is measured based on the relative values of the operation disposed of and the portion of the CGU retained. Goodwill Goodwill arising as part of a business combination is initially measured at cost, being the excess of the fair value of the consideration transferred over the Group\u2019s interest in the net fair value of the separately identifiable assets, liabilities and contingent liabilities of the subsidiary at the date of acquisition. In accordance with IFRS 3 \u2018Business Combinations\u2019, goodwill is not amortised but is reviewed annually for impairment and is therefore stated at cost less any provision for impairment of value. Any impairment is recognised immediately in the consolidated statement of comprehensive income and is not subsequently reversed. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold. On acquisition, any goodwill acquired is allocated to CGUs for the purposes of impairment testing. If the cost of the acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognised directly in the consolidated statement of comprehensive income as a gain on bargain purchase. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-306": { "value": "4(c) Business combinations Business combinations are accounted for using the acquisition method. The cost of an acquisition is measured at the fair value of the aggregate amount of the consideration transferred at the acquisition date, irrespective of the extent of any minority interest. Acquisition and integration-related costs are charged to the consolidated statement of comprehensive income when incurred. When the Group acquires a business, it assesses the assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions at the acquisition date. If the business combination is achieved in stages, the fair value of the Group\u2019s previously held equity interest is remeasured at the acquisition date and the difference is credited or charged to the consolidated statement of comprehensive income. Identifiable assets and liabilities assumed on acquisition are recognised in the consolidated statement of financial position at their fair value at the date of acquisition. Any deferred contingent consideration to be paid by the Group to the vendor is recognised at its fair value at the acquisition date, in accordance with IFRS 9. Subsequent changes based on the revised estimated fair value of deferred contingent consideration are recognised in accordance with IFRS 9 by revaluing the liability on the consolidated statement of financial position and the associated amount recognised in the consolidated statement of comprehensive income. Goodwill is initially measured at cost, being the excess of the consideration transferred over the acquired company\u2019s net identifiable assets and liabilities assumed. Impairment Goodwill and other intangible assets with an indefinite life are tested annually or more frequently if events or changes in circumstances indicate that they might be impaired. For the purposes of impairment testing, goodwill acquired in a business combination is allocated to each of the Group\u2019s CGUs that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquisition are assigned to those units. The carrying amount of each CGU is compared to its recoverable amount, which relates to the higher of an asset\u2019s fair value less costs of disposals and value in use. This is determined using a discounted future cash flow model. Where goodwill forms part of a CGU and part of the operation within that unit is disposed of, the goodwill associated with the operation disposed of is included in the carrying amount of the operation when determining the gain or loss on disposal of the operation. Goodwill disposed of in this circumstance is measured based on the relative values of the operation disposed of and the portion of the CGU retained. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-391": { "value": "4(c) Business combinations Business combinations are accounted for using the acquisition method. The cost of an acquisition is measured at the fair value of the aggregate amount of the consideration transferred at the acquisition date, irrespective of the extent of any minority interest. Acquisition and integration-related costs are charged to the consolidated statement of comprehensive income when incurred. When the Group acquires a business, it assesses the assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions at the acquisition date. If the business combination is achieved in stages, the fair value of the Group\u2019s previously held equity interest is remeasured at the acquisition date and the difference is credited or charged to the consolidated statement of comprehensive income. Identifiable assets and liabilities assumed on acquisition are recognised in the consolidated statement of financial position at their fair value at the date of acquisition. Any deferred contingent consideration to be paid by the Group to the vendor is recognised at its fair value at the acquisition date, in accordance with IFRS 9. Subsequent changes based on the revised estimated fair value of deferred contingent consideration are recognised in accordance with IFRS 9 by revaluing the liability on the consolidated statement of financial position and the associated amount recognised in the consolidated statement of comprehensive income. Goodwill is initially measured at cost, being the excess of the consideration transferred over the acquired company\u2019s net identifiable assets and liabilities assumed. Impairment Goodwill and other intangible assets with an indefinite life are tested annually or more frequently if events or changes in circumstances indicate that they might be impaired. For the purposes of impairment testing, goodwill acquired in a business combination is allocated to each of the Group\u2019s CGUs that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquisition are assigned to those units. The carrying amount of each CGU is compared to its recoverable amount, which relates to the higher of an asset\u2019s fair value less costs of disposals and value in use. This is determined using a discounted future cash flow model. Where goodwill forms part of a CGU and part of the operation within that unit is disposed of, the goodwill associated with the operation disposed of is included in the carrying amount of the operation when determining the gain or loss on disposal of the operation. Goodwill disposed of in this circumstance is measured based on the relative values of the operation disposed of and the portion of the CGU retained. Goodwill Goodwill arising as part of a business combination is initially measured at cost, being the excess of the fair value of the consideration transferred over the Group\u2019s interest in the net fair value of the separately identifiable assets, liabilities and contingent liabilities of the subsidiary at the date of acquisition. In accordance with IFRS 3 \u2018Business Combinations\u2019, goodwill is not amortised but is reviewed annually for impairment and is therefore stated at cost less any provision for impairment of value. Any impairment is recognised immediately in the consolidated statement of comprehensive income and is not subsequently reversed. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold. On acquisition, any goodwill acquired is allocated to CGUs for the purposes of impairment testing. If the cost of the acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognised directly in the consolidated statement of comprehensive income as a gain on bargain purchase. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-404": { "value": "Impairment Goodwill and other intangible assets with an indefinite life are tested annually or more frequently if events or changes in circumstances indicate that they might be impaired. For the purposes of impairment testing, goodwill acquired in a business combination is allocated to each of the Group\u2019s CGUs that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquisition are assigned to those units. The carrying amount of each CGU is compared to its recoverable amount, which relates to the higher of an asset\u2019s fair value less costs of disposals and value in use. This is determined using a discounted future cash flow model. Where goodwill forms part of a CGU and part of the operation within that unit is disposed of, the goodwill associated with the operation disposed of is included in the carrying amount of the operation when determining the gain or loss on disposal of the operation. Goodwill disposed of in this circumstance is measured based on the relative values of the operation disposed of and the portion of the CGU retained. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-307": { "value": "4(d) Revenue Investment management fees Revenue from investment management services is recognised over time as the services are provided. Fees are typically billed monthly or quarterly in arrears and are calculated based on a percentage of the portfolio value, either daily or at the billing date, depending on the underlying product. The performance obligation is satisfied continuously over the service period, and revenue is recognised accordingly. Revenue from investment management fees is only recognised as the performance obligation is satisfied. Amounts are presented net of any rebates or discounts provided to clients. Fund management fees Revenue from fund management services provided to open-ended investment companies (\u201cOEICs\u201d) is recognised over time as the services are provided. Fees are billed monthly in arrears and are calculated daily based on a fixed percentage of each fund\u2019s net asset value. As such, fund management fees include variable consideration but there is no significant estimation or level of judgement involved. The performance obligation is satisfied continuously throughout the reporting period, and revenue is recognised accordingly. Amounts are presented net of any rebates or discounts provided to investors. Financial planning Financial planning income relates to fees for the provision of financial advice. Fees are charged to clients either using an hourly rate, by a fixed fee arrangement, or by a fund-based arrangement whereby fees are calculated based on a percentage of the value of the portfolio at the billing date. All fees are recognised over the period the service is provided. Transactional income and foreign exchange trading Transactional income is earned through dealing and administration charges levied on trades at the time a deal is placed for a client. Fees are calculated based on a percentage of the individual trade value or a flat charge per trade. Revenue is recognised at the point of the trade being placed. Foreign exchange trading fees are charged on client trades placed in non-base currencies, which therefore require a foreign currency exchange to action the trade. Revenue is recognised at the point of the trade being placed. Interest income Interest income on client money is the revenue earned on uninvested cash deposits held by clients. The amount recognised correlates with fluctuations in underlying interest rates and is recognised over time, based on balances held in investment accounts under administration. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-308": { "value": "4(e) Cash and cash equivalents Cash comprises cash in hand and call deposits held with banks. Cash equivalents comprise short-term, highly liquid investments that are subject to an insignificant risk of change in value and with a maturity of less than three months from the date of acquisition. Cash and cash equivalents are classified at amortised cost, as the business model of these assets is to hold to collect contractual cash flows, which consist solely of payments of principal and interest. They are initially recognised at fair value and subsequently measured at amortised cost using the effective interest rate (\u201cEIR\u201d) method. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-309": { "value": "4(f) Share-based payments The Group operates a number of share incentive plans for its employees. These involve an award of shares or options in the Group (share-based payments). The fair value of the services received is measured by reference to the fair value of the shares or share options on the grant date. Fair value is measured using the Black\u2013Scholes model. The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period, based on the Group\u2019s estimate of shares that will eventually vest. At each reporting date, the Group revises its estimate of the number of equity instruments expected to vest as a result of the effect of non-market-based vesting conditions. The impact of the revision of the original estimates, if any, is recognised in the consolidated statement of comprehensive income, such that the cumulative expense reflects the revised estimate, with a corresponding adjustment to reserves. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-310": { "value": "4(g) Segmental reporting The Group determines and presents operating segments based on the information that is provided internally to the Group Board of Directors, which is the Group\u2019s chief operating decision maker. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-311": { "value": "4(h) Fiduciary activities The Group commonly acts as trustee and in other fiduciary capacities that result in the holding or placing of assets on behalf of individuals, trusts, retirement benefit plans and other institutions. These assets and income arising thereon are excluded from these financial statements, as they are not assets of the Group. The Group holds money on behalf of some clients in accordance with the client money rules of the Financial Conduct Authority (\u201cFCA\u201d). Such monies and the corresponding liability to clients are not included within the consolidated statement of financial position as the Group is not beneficially entitled thereto. ", "dimensions": { "concept": "brooksmacdonaldgroupplc:DescriptionOfAccountingPolicyForFiduciaryActivities", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-363": { "value": "4(i) Property, plant and equipment All property, plant and equipment is included in the consolidated statement of financial position at historical cost less accumulated depreciation and impairment. Costs include the original purchase cost of the asset and the costs attributable to bringing the asset into a working condition for its intended use. Provision is made for depreciation to write off the cost less estimated residual value of each asset, and is charged to administrative expenses in the consolidated statement of comprehensive income using a straight-line method, over its expected useful life as follows: \u2013 Leasehold improvements \u2013 over the lease term \u2013 Fixtures, fittings and office equipment \u2013 five years \u2013 IT equipment \u2013 four or five years The assets\u2019 residual values and useful economic lives are reviewed and adjusted, if appropriate, at the end of each reporting period. Gains and losses arising on disposal are determined by comparing the proceeds with the carrying amount. These are included in the consolidated statement of comprehensive income. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-312": { "value": "4(i) Property, plant and equipment All property, plant and equipment is included in the consolidated statement of financial position at historical cost less accumulated depreciation and impairment. Costs include the original purchase cost of the asset and the costs attributable to bringing the asset into a working condition for its intended use. Provision is made for depreciation to write off the cost less estimated residual value of each asset, and is charged to administrative expenses in the consolidated statement of comprehensive income using a straight-line method, over its expected useful life as follows: \u2013 Leasehold improvements \u2013 over the lease term \u2013 Fixtures, fittings and office equipment \u2013 five years \u2013 IT equipment \u2013 four or five years The assets\u2019 residual values and useful economic lives are reviewed and adjusted, if appropriate, at the end of each reporting period. Gains and losses arising on disposal are determined by comparing the proceeds with the carrying amount. These are included in the consolidated statement of comprehensive income. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-313": { "value": "4(j) Intangible assets Amortisation of intangible assets is charged to administrative expenses in the consolidated statement of comprehensive income on a straight-line basis over the estimated useful lives of the assets. Acquired client relationship contracts Intangible assets are recognised where client relationship contracts are either separately acquired or acquired with investment managers who are employed by the Group. These are initially recognised at cost and are subsequently amortised on a straight-line basis over their estimated useful economic life. Separately acquired client relationship contracts are amortised over six to twenty years. The intangible assets are reviewed annually to determine whether there exists an indicator of impairment or an indicator that the assumed useful economic life has changed. Computer software Costs incurred on internally developed computer software are initially recognised at cost, and when the software is available for use, the costs are amortised on a straight-line basis over an estimated useful life of either four years or the contract term ranging between three and eight years. Initial research and planning costs incurred prior to a decision to proceed with the software\u2019s development are recognised immediately in the consolidated statement of comprehensive income. Goodwill Goodwill arising as part of a business combination is initially measured at cost, being the excess of the fair value of the consideration transferred over the Group\u2019s interest in the net fair value of the separately identifiable assets, liabilities and contingent liabilities of the subsidiary at the date of acquisition. In accordance with IFRS 3 \u2018Business Combinations\u2019, goodwill is not amortised but is reviewed annually for impairment and is therefore stated at cost less any provision for impairment of value. Any impairment is recognised immediately in the consolidated statement of comprehensive income and is not subsequently reversed. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold. On acquisition, any goodwill acquired is allocated to CGUs for the purposes of impairment testing. If the cost of the acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognised directly in the consolidated statement of comprehensive income as a gain on bargain purchase. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-364": { "value": "Acquired client relationship contracts Intangible assets are recognised where client relationship contracts are either separately acquired or acquired with investment managers who are employed by the Group. These are initially recognised at cost and are subsequently amortised on a straight-line basis over their estimated useful economic life. Separately acquired client relationship contracts are amortised over six to twenty years. The intangible assets are reviewed annually to determine whether there exists an indicator of impairment or an indicator that the assumed useful economic life has changed. Computer software Costs incurred on internally developed computer software are initially recognised at cost, and when the software is available for use, the costs are amortised on a straight-line basis over an estimated useful life of either four years or the contract term ranging between three and eight years. Initial research and planning costs incurred prior to a decision to proceed with the software\u2019s development are recognised immediately in the consolidated statement of comprehensive income. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-365": { "value": "4(k) Financial investments The Group classifies financial assets in the following categories: fair value through profit or loss; fair value through other comprehensive income; and amortised cost. The classification is determined by management on initial recognition of the financial asset, which depends on the purpose for which it was acquired and the nature of the cash flows. Fair value through profit or loss Financial investments are classified as fair value through profit or loss if they are either held for trading or specifically designated in this category on initial recognition. Assets in this category are initially recognised at fair value and subsequently remeasured, with gains or losses arising from changes in fair value being recognised in the consolidated statement of comprehensive income. Financial assets at fair value through profit or loss include investments in regulated OEICs, which are managed and evaluated on a fair value basis in line with the market value. Fair value through other comprehensive income Financial investments are classified as fair value through other comprehensive income if the objective of the business model is achieved by both collecting contractual cash flows and selling financial assets and if the asset\u2019s contractual cash flows represent solely payments of principal and interest. Assets in this category are initially recognised at fair value and subsequently remeasured, with gains or losses arising from changes in fair value being recognised in other comprehensive income. Financial assets at fair value through other comprehensive income relates to an investment in redeemable preference shares, which satisfy the definition above due to being held to collect contractual cash flows via an annual fixed preferential dividend. Amortised cost Financial instruments are classified as amortised cost if the asset is held to collect contractual cash flows and the asset\u2019s contractual cash flows represent solely payments of principal and interest. Disposals of instruments held at amortised cost are not part of regular business practice, however one-off instances may occur due to significant events, although they do not alter the existing business model, which remains focused on collecting contractual cash flows. In assessing whether the \u2018held to collect\u2019 model remains appropriate, management considers the frequency and volume of disposals in relation to the total portfolio and disposals are disclosed in the financial statements, including the rationale for the transaction. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-314": { "value": "4(k) Financial investments The Group classifies financial assets in the following categories: fair value through profit or loss; fair value through other comprehensive income; and amortised cost. The classification is determined by management on initial recognition of the financial asset, which depends on the purpose for which it was acquired and the nature of the cash flows. Fair value through profit or loss Financial investments are classified as fair value through profit or loss if they are either held for trading or specifically designated in this category on initial recognition. Assets in this category are initially recognised at fair value and subsequently remeasured, with gains or losses arising from changes in fair value being recognised in the consolidated statement of comprehensive income. Financial assets at fair value through profit or loss include investments in regulated OEICs, which are managed and evaluated on a fair value basis in line with the market value. Fair value through other comprehensive income Financial investments are classified as fair value through other comprehensive income if the objective of the business model is achieved by both collecting contractual cash flows and selling financial assets and if the asset\u2019s contractual cash flows represent solely payments of principal and interest. Assets in this category are initially recognised at fair value and subsequently remeasured, with gains or losses arising from changes in fair value being recognised in other comprehensive income. Financial assets at fair value through other comprehensive income relates to an investment in redeemable preference shares, which satisfy the definition above due to being held to collect contractual cash flows via an annual fixed preferential dividend. Amortised cost Financial instruments are classified as amortised cost if the asset is held to collect contractual cash flows and the asset\u2019s contractual cash flows represent solely payments of principal and interest. Disposals of instruments held at amortised cost are not part of regular business practice, however one-off instances may occur due to significant events, although they do not alter the existing business model, which remains focused on collecting contractual cash flows. In assessing whether the \u2018held to collect\u2019 model remains appropriate, management considers the frequency and volume of disposals in relation to the total portfolio and disposals are disclosed in the financial statements, including the rationale for the transaction. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-392": { "value": "Fair value through profit or loss Financial investments are classified as fair value through profit or loss if they are either held for trading or specifically designated in this category on initial recognition. Assets in this category are initially recognised at fair value and subsequently remeasured, with gains or losses arising from changes in fair value being recognised in the consolidated statement of comprehensive income. Financial assets at fair value through profit or loss include investments in regulated OEICs, which are managed and evaluated on a fair value basis in line with the market value. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-405": { "value": "Fair value through profit or loss Financial investments are classified as fair value through profit or loss if they are either held for trading or specifically designated in this category on initial recognition. Assets in this category are initially recognised at fair value and subsequently remeasured, with gains or losses arising from changes in fair value being recognised in the consolidated statement of comprehensive income. Financial assets at fair value through profit or loss include investments in regulated OEICs, which are managed and evaluated on a fair value basis in line with the market value. Fair value through other comprehensive income Financial investments are classified as fair value through other comprehensive income if the objective of the business model is achieved by both collecting contractual cash flows and selling financial assets and if the asset\u2019s contractual cash flows represent solely payments of principal and interest. Assets in this category are initially recognised at fair value and subsequently remeasured, with gains or losses arising from changes in fair value being recognised in other comprehensive income. Financial assets at fair value through other comprehensive income relates to an investment in redeemable preference shares, which satisfy the definition above due to being held to collect contractual cash flows via an annual fixed preferential dividend. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-366": { "value": "4(l) Foreign currency translation The Group\u2019s functional and presentational currency is Pound Sterling (\u201c\u00a3\u201d). Foreign currency transactions are translated using the exchange rate prevailing at the transaction date. At the reporting date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the prevailing rates on that date. Foreign exchange gains and losses resulting from the settlement of such transactions, and from the translation of period-end monetary assets and liabilities, are recognised in the consolidated statement of comprehensive income. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-315": { "value": "4(l) Foreign currency translation The Group\u2019s functional and presentational currency is Pound Sterling (\u201c\u00a3\u201d). Foreign currency transactions are translated using the exchange rate prevailing at the transaction date. At the reporting date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the prevailing rates on that date. Foreign exchange gains and losses resulting from the settlement of such transactions, and from the translation of period-end monetary assets and liabilities, are recognised in the consolidated statement of comprehensive income. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-316": { "value": "4(m) Retirement benefit costs Contributions in respect of the Group\u2019s defined contribution pension scheme are charged to the consolidated statement of comprehensive income as they fall due. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-367": { "value": "4(n) Taxation Tax on the profit for the financial year comprises current and deferred tax. Current tax is the expected tax payable on the taxable income for the financial year, using tax rates enacted, or substantively enacted, at the reporting date, and any adjustment to tax payable in respect of previous years. Deferred 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 Group\u2019s Financial statements. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realised or the liability settled based on tax rates (and laws) that have been enacted, or substantively enacted, at the reporting date. Deferred tax assets are only recognised to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised. Deferred tax balances are presented on the consolidated statement of financial position as the net deferred tax balance by each jurisdiction the Group operates within. The gross deferred tax assets and liabilities are disclosed within the deferred tax in note 27. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-317": { "value": "4(n) Taxation Tax on the profit for the financial year comprises current and deferred tax. Current tax is the expected tax payable on the taxable income for the financial year, using tax rates enacted, or substantively enacted, at the reporting date, and any adjustment to tax payable in respect of previous years. Deferred 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 Group\u2019s Financial statements. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realised or the liability settled based on tax rates (and laws) that have been enacted, or substantively enacted, at the reporting date. Deferred tax assets are only recognised to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised. Deferred tax balances are presented on the consolidated statement of financial position as the net deferred tax balance by each jurisdiction the Group operates within. The gross deferred tax assets and liabilities are disclosed within the deferred tax in note 27. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-318": { "value": "4(o) Trade receivables Trade receivables represent amounts due for services performed in the ordinary course of business. They are recognised in trade and other receivables and, if collection is expected within one year, they are recognised as a current asset. If collection is expected in greater than one year, they are recognised as a non-current asset. Trade receivables are measured at amortised cost less any expected credit losses. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-320": { "value": "4(p) Right-of-use assets and lease liabilities Right-of-use assets are initially recognised at cost which is measured at the initial amount of the lease liability, reduced for any lease incentives received and increased for lease payments made at or before commencement of the lease, initial direct costs incurred and the amount of any provision recognised where the Group is required to dismantle, remove or restore the asset. Additionally, they may be re-measured to reflect reassessment due to lease modifications. The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the end of the lease term. Additionally, the right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability. The Group initially records a lease liability reflecting the present value of the future contractual cash flows to be made over the lease term, discounted using the Group\u2019s incremental borrowing rate. Interest is accrued on the lease liability using the effective interest rate method to give a constant rate of return over the life of the lease whilst the balance is reduced as lease payments are made. If the Group revises its estimate of the term of any lease, it will adjust the carrying amount of the lease liability to reflect the payments to be made over the revised term, discounted at the revised discount rate. An equivalent adjustment is made to the carrying value of the right-of-use asset, with the revised carrying amount being amortised over the remaining (revised) lease term. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-319": { "value": "4(q) Trade payables Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. These are classified as current liabilities if payment is due within one year or less. Otherwise, they are presented as non-current liabilities in the consolidated statement of financial position. Trade payables are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-321": { "value": "4(r) Employee Benefit Trust (\u201cEBT\u201d) The EBT is considered to be a structured entity, as defined in note 32. In substance, the activities of the trust are being conducted on behalf of the Group according to its specific business needs, to obtain benefits from its operation. On this basis, the assets held by the trust are consolidated into the Group\u2019s financial statements. The Company provides finance to an EBT to purchase the Company\u2019s shares on the open market in order to meet its obligation to provide shares when an employee exercises certain options or awards made under the Group\u2019s share-based payment schemes. The administration and finance costs connected with the EBT are charged to the consolidated statement of comprehensive income. The cost of the shares held by the EBT is deducted from equity. A transfer is made between other reserves and retained earnings over the vesting periods of the related share options or awards to reflect the ultimate proceeds receivable from employees on exercise. The trustees have waived their rights to receive dividends on the shares held by the EBT. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-322": { "value": "4(s) Share capital Ordinary share capital is classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds. Where the Company purchases its own equity share capital (treasury shares), the consideration paid, including any directly incremental costs (i.e. net of income taxes) is deducted from equity attributable to the Company\u2019s equity holders until the shares are cancelled or reissued. Where such ordinary shares are subsequently reissued, any consideration received (net of any directly attributable incremental transaction costs and the related income tax effects) is included within equity attributable to the Company\u2019s equity holders. The share buyback programme, initiated during the financial year, repurchased shares on the open market and upon cancellation, the par value is transferred from the share capital to the capital redemption reserve of the Company, with the remaining amount reducing retained earnings. No gain or loss is recorded in the income statement as a result of this programme. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-323": { "value": "4(t) Dividend distribution The dividend distribution to the Company\u2019s shareholders is recognised as a liability in the Group\u2019s financial statements in the period in which the dividend is authorised and no longer at the discretion of the Company. Final dividends are recognised when approved by the Company\u2019s shareholders at the Annual General Meeting and interim dividends are recognised when paid. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-324": { "value": "4(u) Other non-operating income Other non-operating income is that which is material by size and/or irregular in nature and therefore requires separate disclosure within the consolidated statement of comprehensive income to assist the users of the consolidated financial statements in understanding the business performance of the Group. ", "dimensions": { "concept": "brooksmacdonaldgroupplc:DescriptionOfAccountingPolicyForOtherNonOperatingIncome", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-325": { "value": "
5. Segmental information
During the financial year, the Group sold its International business (\u201cBMI\u201d) and subsequently,
this operating segment has been removed from the segmental reporting and reported within
discontinued operations.
As a result, the Group has one reportable segment, consistent with the information that the Board
of Directors, which is the Group\u2019s chief operating decision maker, uses internally for evaluating
the performance of its Group, and is therefore not presenting a segmental analysis in accordance
with IFRS 8 \u2018Operating Segments\u2019.
The required disclosures in accordance with IFRS 8, regarding revenues from major clients and
geographical location, are disclosed in note 6.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-326": { "value": "
6. Revenue
2024
2025
restated
1
\u00a3\u2019000 \u00a3\u2019000
Investment management fees
66,237
67,825
Fund management fees
6,598
6,914
Financial planning income
17,102
8,182
Transactional income and foreign exchange trading fees
14,022
12,394
Interest income
7,601
11,367
Total revenue
111,560
106,682
1
The prior financial year has been restated to exclude the results of discontinued operations, consistent with the
presentation in the current financial year. Refer to note 13 for details of the results of discontinued operations.
6(a) Geographic analysis
The Group\u2019s continuing operations are located in the United Kingdom; therefore all Group
revenue is recognised in this jurisdiction. The Group\u2019s discontinued operations in relation to BMI
are located in Jersey and Guernsey (refer to note 13).
6(b) Major clients
The Group is not reliant on any one client or group of connected clients for the generation
of revenues.
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-368": { "value": "6(a) Geographic analysis The Group\u2019s continuing operations are located in the United Kingdom; therefore all Group revenue is recognised in this jurisdiction. The Group\u2019s discontinued operations in relation to BMI are located in Jersey and Guernsey (refer to note 13). ", "dimensions": { "concept": "ifrs-full:DisclosureOfGeographicalAreasExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-369": { "value": "6(b) Major clients The Group is not reliant on any one client or group of connected clients for the generation of revenues.", "dimensions": { "concept": "ifrs-full:DisclosureOfSegmentsMajorCustomersExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-370": { "value": "
7. Administrative costs
Administrative costs are recognised as the services are received. The largest component of
the Group\u2019s administrative costs are employee costs as shown below. Other costs included in
administrative costs are set out in note 9.
7(a) Employee costs
2024
2025
restated
1
\u00a3\u2019000 \u00a3\u2019000
Wages and salaries
40,420
40,338
Social security costs
5,300
5,206
Other pension costs
2,144
1,801
Share-based payments
1,379
1,366
Redundancy costs
1,792
1,588
Total employee costs
51,035
50,299
1
The prior financial year has been restated to exclude the results of discontinued operations, consistent with the
presentation in the current financial year. Refer to note 13 for details of the results of discontinued operations.
Employee costs include Directors\u2019 remuneration, the full details of which are included within the
Remuneration Committee report on pages 78 to 94.
Pension costs relate entirely to a defined contribution scheme.
7(b) Average number of employees
The average number of persons employed by the Group during the financial year, including
Directors, was as follows:
2024
2025
restated
1
Number of Number of
employees employees
Business employees
299
257
Functional employees
174
156
Average number of persons employed
473
413
1
The prior financial year has been restated to exclude the results of discontinued operations, consistent with the
presentation in the current financial year. Refer to note 13 for details of the results of discontinued operations.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-393": { "value": "7. Administrative costs Administrative costs are recognised as the services are received. The largest component of the Group\u2019s administrative costs are employee costs as shown below. Other costs included in administrative costs are set out in note 9. 7(a) Employee costs
2024
2025
restated
1
\u00a3\u2019000 \u00a3\u2019000
Wages and salaries
40,420
40,338
Social security costs
5,300
5,206
Other pension costs
2,144
1,801
Share-based payments
1,379
1,366
Redundancy costs
1,792
1,588
Total employee costs
51,035
50,299
1 The prior financial year has been restated to exclude the results of discontinued operations, consistent with the presentation in the current financial year. Refer to note 13 for details of the results of discontinued operations. Employee costs include Directors\u2019 remuneration, the full details of which are included within the Remuneration Committee report on pages 78 to 94. Pension costs relate entirely to a defined contribution scheme. 7(b) Average number of employees The average number of persons employed by the Group during the financial year, including Directors, was as follows:
2024
2025
restated
1
Number of Number of
employees employees
Business employees
299
257
Functional employees
174
156
Average number of persons employed
473
413
1 The prior financial year has been restated to exclude the results of discontinued operations, consistent with the presentation in the current financial year. Refer to note 13 for details of the results of discontinued operations. 9. Operating profit Statutory profit is stated after charging for the following administrative costs:
2024
2025
restated
1
Note \u00a3\u2019000 \u00a3\u2019000
Employee costs
7
51,035
50,299
Acquisition and integration-related costs
15
4,390
175
Amortisation of client relationships
3,997
3,384
Amortisation of computer software
2,294
1,376
Move to LSE\u2019s Main Market costs
15
1,926
\u2013
Auditors\u2019 remuneration (see below)
1,783
996
Depreciation of right-of-use assets
1,661
1,577
Financial Services Compensation Scheme levy
(see below)
1,114
672
Depreciation of property, plant and equipment
520
567
Impairment of right-of-use assets
411
\u2013
1 The prior financial year has been restated to separate the results of discontinued operations, consistent with the presentation in the current financial year. Refer to note 13 for details of the results of discontinued operations. Financial Services Compensation Scheme levies Administrative costs for the year ended 30 June 2025 include a charge of \u00a31,114,000 (2024: \u00a3672,000) in respect of the Financial Services Compensation Scheme (\u201cFSCS\u201d) levy, all of which is in respect of the estimated levy for the 2025/26 scheme year.
A more detailed analysis of auditors\u2019 remuneration is provided below:
2024
2025
restated
1
\u00a3\u2019000 \u00a3\u2019000
Fees payable to the Company\u2019s auditors for the audit of the
consolidated Group and Parent Company financial statements
610
356
Fees payable to the Company\u2019s auditors and its associates for other
services:
\u2013
Audit of the Company\u2019s subsidiaries pursuant to legislation
184
177
\u2013
Audit-related assurance services
530
462
\u2013
Non-audit-related services
458
2
Total auditors\u2019 remuneration
1,783
996
1
The prior financial year has been restated to separate the impact of discontinued operations on auditors\u2019
remuneration of \u00a3314,000, consistent with the presentation in the current financial year. Refer to note 13 for details
of the results from discontinued operations.
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-327": { "value": "7(a) Employee costs
2024
2025
restated
1
\u00a3\u2019000 \u00a3\u2019000
Wages and salaries
40,420
40,338
Social security costs
5,300
5,206
Other pension costs
2,144
1,801
Share-based payments
1,379
1,366
Redundancy costs
1,792
1,588
Total employee costs
51,035
50,299
1 The prior financial year has been restated to exclude the results of discontinued operations, consistent with the presentation in the current financial year. Refer to note 13 for details of the results of discontinued operations. Employee costs include Directors\u2019 remuneration, the full details of which are included within the Remuneration Committee report on pages 78 to 94. Pension costs relate entirely to a defined contribution scheme. 7(b) Average number of employees The average number of persons employed by the Group during the financial year, including Directors, was as follows:
2024
2025
restated
1
Number of Number of
employees employees
Business employees
299
257
Functional employees
174
156
Average number of persons employed
473
413
1 The prior financial year has been restated to exclude the results of discontinued operations, consistent with the presentation in the current financial year. Refer to note 13 for details of the results of discontinued operations. ", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-330": { "value": "
8. Other (losses)/gains
Other (losses)/gains represent the net changes in the fair value of the Group\u2019s financial
instruments recognised in the consolidated statement of comprehensive income.
2025 2024
Note \u00a3\u2019000 \u00a3\u2019000
(Loss)/gain in fair value of deferred contingent
consideration payable
26
(341)
3
Gain on redemption of assets held at amortised cost
25
\u2013
Gain in fair value of financial assets at fair value
through profit or loss
20
44
80
Other (losses)/gains
(272)
83
", "dimensions": { "concept": "brooksmacdonaldgroupplc:DisclosureOfOtherLossesGains", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2025-07-01T00:00:00" } }, "fact-328": { "value": "9. Operating profit Statutory profit is stated after charging for the following administrative costs:
2024
2025
restated
1
Note \u00a3\u2019000 \u00a3\u2019000
Employee costs
7
51,035
50,299
Acquisition and integration-related costs
15
4,390
175
Amortisation of client relationships
3,997
3,384
Amortisation of computer software
2,294
1,376
Move to LSE\u2019s Main Market costs
15
1,926
\u2013
Auditors\u2019 remuneration (see below)
1,783
996
Depreciation of right-of-use assets
1,661
1,577
Financial Services Compensation Scheme levy
(see below)
1,114
672
Depreciation of property, plant and equipment
520
567
Impairment of right-of-use assets
411
\u2013
1 The prior financial year has been restated to separate the results of discontinued operations, consistent with the presentation in the current financial year. Refer to note 13 for details of the results of discontinued operations. Financial Services Compensation Scheme levies Administrative costs for the year ended 30 June 2025 include a charge of \u00a31,114,000 (2024: \u00a3672,000) in respect of the Financial Services Compensation Scheme (\u201cFSCS\u201d) levy, all of which is in respect of the estimated levy for the 2025/26 scheme year. A more detailed analysis of auditors\u2019 remuneration is provided below:
2024
2025
restated
1
\u00a3\u2019000 \u00a3\u2019000
Fees payable to the Company\u2019s auditors for the audit of the
consolidated Group and Parent Company financial statements
610
356
Fees payable to the Company\u2019s auditors and its associates for other
services:
\u2013
Audit of the Company\u2019s subsidiaries pursuant to legislation
184
177
\u2013
Audit-related assurance services
530
462
\u2013
Non-audit-related services
458
2
Total auditors\u2019 remuneration
1,783
996
1 The prior financial year has been restated to separate the impact of discontinued operations on auditors\u2019 remuneration of \u00a3314,000, consistent with the presentation in the current financial year. Refer to note 13 for details of the results from discontinued operations.", "dimensions": { "concept": "ifrs-full:DisclosureOfProfitLossFromOperatingActivitiesExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-373": { "value": "
2024
2025
restated
1
Note \u00a3\u2019000 \u00a3\u2019000
Employee costs
7
51,035
50,299
Acquisition and integration-related costs
15
4,390
175
Amortisation of client relationships
3,997
3,384
Amortisation of computer software
2,294
1,376
Move to LSE\u2019s Main Market costs
15
1,926
\u2013
Auditors\u2019 remuneration (see below)
1,783
996
Depreciation of right-of-use assets
1,661
1,577
Financial Services Compensation Scheme levy
(see below)
1,114
672
Depreciation of property, plant and equipment
520
567
Impairment of right-of-use assets
411
\u2013
18. Property, plant and equipment
Fixtures,
fittings
Leasehold and office IT
improvements equipment equipment Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Cost
At 1 July 2023
3,146
642
966
4,754
Additions
13
47
23
83
Disposals
(11)
(3)
(3)
(17)
At 30 June 2024
3,148
686
986
4,820
Additions
2,617
183
477
3,277
Disposals
\u2013
(7)
\u2013
(7)
Disposal of subsidiary
(730)
(151)
(146)
(1,027)
At 30 June 2025
5,035
711
1,317
7,063
Accumulated depreciation
At 1 July 2023
1,647
442
542
2,631
Depreciation charge
571
95
190
856
Depreciation on disposals
(11)
(3)
(3)
(17)
At 30 June 2024
2,207
534
729
3,470
Additions
51
144
138
333
Depreciation charge
384
84
178
646
Disposal of subsidiary
(566)
(105)
(133)
(804)
At 30 June 2025
2,076
657
912
3,645
Net book value
At 30 June 2023
1,499
200
424
2,123
At 30 June 2024
941
152
257
1,350
At 30 June 2025
2,959
54
405
3,418
", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-371": { "value": "A more detailed analysis of auditors\u2019 remuneration is provided below:
2024
2025
restated
1
\u00a3\u2019000 \u00a3\u2019000
Fees payable to the Company\u2019s auditors for the audit of the
consolidated Group and Parent Company financial statements
610
356
Fees payable to the Company\u2019s auditors and its associates for other
services:
\u2013
Audit of the Company\u2019s subsidiaries pursuant to legislation
184
177
\u2013
Audit-related assurance services
530
462
\u2013
Non-audit-related services
458
2
Total auditors\u2019 remuneration
1,783
996
1 The prior financial year has been restated to separate the impact of discontinued operations on auditors\u2019 remuneration of \u00a3314,000, consistent with the presentation in the current financial year. Refer to note 13 for details of the results from discontinued operations.", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-329": { "value": "
10. Finance income and finance costs
2024
2025
restated
1
Note \u00a3\u2019000 \u00a3\u2019000
Finance income
Dividends on preference shares
20
28
Interest on assets held at amortised cost
20
1,108
198
Finance income on deferred contingent
consideration receivable
21
273
\u2013
Bank interest on deposits
1,426
2,299
Total finance income
2,827
2,525
Finance costs
Finance cost of lease liabilities
122
153
Finance cost of deferred contingent consideration
payable
26
426
13
Finance cost of retention liability
49
\u2013
Total finance costs
597
166
1
The prior financial year has been restated to separate the results of discontinued operations, consistent with the
presentation in the current period. Refer to note 13 for details of the results from discontinued operations.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-372": { "value": "10. Finance income and finance costs
2024
2025
restated
1
Note \u00a3\u2019000 \u00a3\u2019000
Finance income
Dividends on preference shares
20
28
Interest on assets held at amortised cost
20
1,108
198
Finance income on deferred contingent
consideration receivable
21
273
\u2013
Bank interest on deposits
1,426
2,299
Total finance income
2,827
2,525
Finance costs
Finance cost of lease liabilities
122
153
Finance cost of deferred contingent consideration
payable
26
426
13
Finance cost of retention liability
49
\u2013
Total finance costs
597
166
1 The prior financial year has been restated to separate the results of discontinued operations, consistent with the presentation in the current period. Refer to note 13 for details of the results from discontinued operations.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-394": { "value": "10. Finance income and finance costs
2024
2025
restated
1
Note \u00a3\u2019000 \u00a3\u2019000
Finance income
Dividends on preference shares
20
28
Interest on assets held at amortised cost
20
1,108
198
Finance income on deferred contingent
consideration receivable
21
273
\u2013
Bank interest on deposits
1,426
2,299
Total finance income
2,827
2,525
Finance costs
Finance cost of lease liabilities
122
153
Finance cost of deferred contingent consideration
payable
26
426
13
Finance cost of retention liability
49
\u2013
Total finance costs
597
166
1 The prior financial year has been restated to separate the results of discontinued operations, consistent with the presentation in the current period. Refer to note 13 for details of the results from discontinued operations.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-406": { "value": "10. Finance income and finance costs
2024
2025
restated
1
Note \u00a3\u2019000 \u00a3\u2019000
Finance income
Dividends on preference shares
20
28
Interest on assets held at amortised cost
20
1,108
198
Finance income on deferred contingent
consideration receivable
21
273
\u2013
Bank interest on deposits
1,426
2,299
Total finance income
2,827
2,525
Finance costs
Finance cost of lease liabilities
122
153
Finance cost of deferred contingent consideration
payable
26
426
13
Finance cost of retention liability
49
\u2013
Total finance costs
597
166
1 The prior financial year has been restated to separate the results of discontinued operations, consistent with the presentation in the current period. Refer to note 13 for details of the results from discontinued operations.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-409": { "value": "10. Finance income and finance costs
2024
2025
restated
1
Note \u00a3\u2019000 \u00a3\u2019000
Finance income
Dividends on preference shares
20
28
Interest on assets held at amortised cost
20
1,108
198
Finance income on deferred contingent
consideration receivable
21
273
\u2013
Bank interest on deposits
1,426
2,299
Total finance income
2,827
2,525
Finance costs
Finance cost of lease liabilities
122
153
Finance cost of deferred contingent consideration
payable
26
426
13
Finance cost of retention liability
49
\u2013
Total finance costs
597
166
1 The prior financial year has been restated to separate the results of discontinued operations, consistent with the presentation in the current period. Refer to note 13 for details of the results from discontinued operations.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-411": { "value": "10. Finance income and finance costs
2024
2025
restated
1
Note \u00a3\u2019000 \u00a3\u2019000
Finance income
Dividends on preference shares
20
28
Interest on assets held at amortised cost
20
1,108
198
Finance income on deferred contingent
consideration receivable
21
273
\u2013
Bank interest on deposits
1,426
2,299
Total finance income
2,827
2,525
Finance costs
Finance cost of lease liabilities
122
153
Finance cost of deferred contingent consideration
payable
26
426
13
Finance cost of retention liability
49
\u2013
Total finance costs
597
166
1 The prior financial year has been restated to separate the results of discontinued operations, consistent with the presentation in the current period. Refer to note 13 for details of the results from discontinued operations.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-331": { "value": "
11. Other non-operating income
Other non-operating income mainly relates to a refund of VAT received from HM Revenue and
Customs (\u201cHMRC\u201d). During the financial year, the Group received confirmation from HMRC that
the supply of certain Group services was exempt from VAT. As a result, the Group received
a refund in respect of VAT arising on those services during the period from 1 January 2020 to
30 September 2024. This has been treated as non-operating income in view of its non-recurring
nature and given it is outside the ordinary course of business.
", "dimensions": { "concept": "brooksmacdonaldgroupplc:DisclosureOfOtherNonOperatingIncome", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-332": { "value": "
12. Taxation from continuing operations
The current tax expense for the year ended 30 June 2025 was calculated based on the
Corporation Tax rate of 25.0% (2024: 25.0%).
2024
2025
restated
1
\u00a3\u2019000
\u00a3\u2019000
UK Corporation Tax
6,670
6,027
Under provision of current tax in prior years
576
202
Total current tax expense
7,246
6,229
Deferred tax credits
(1,357)
(1,705)
Under provision of deferred tax in prior years
\u2013
(288)
Total income tax expense
5,889
4,236
1
The prior financial year has been restated to separate the results of discontinued operations, consistent with the
presentation in the current financial year. Refer to note 13 for details of the results of discontinued operations.
Underlying
Underlying profit Statutory
profit adjustments profit
Year ended 30 June 2025 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Profit before taxation from continuing operations
28,905
(11,386)
17,519
Profit multiplied by the standard rate of tax
in the UK of 25.0%
7,226
(2,847)
4,379
Tax effect of amounts that are not deductible/
(taxable) in calculating taxable income:
\u2014 Depreciation and amortisation
(54)
79
25
\u2014 Disallowable expenses
381
983
1,364
\u2014 Share-based payments
(470)
15
(455)
\u2014 Under provision in prior years
576
\u2013
576
Total income tax expense
7,659
(1,770)
5,889
Effective tax rate
26.5%
N/A
33.6%
Underlying
Underlying profit Statutory
profit adjustments profit
Year ended 30 June 2024 restated
1
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Profit before taxation from continuing operations
30,302
(5,687)
24,615
Profit multiplied by the standard rate of tax
in the UK of 25.0%
7,576
(1,422)
6,154
Tax effect of amounts that are not deductible/
(taxable) in calculating taxable income:
\u2014 Depreciation and amortisation
(361)
(47)
(408)
\u2014 Non-taxable income
(20)
\u2013
(20)
\u2014 Disallowable expenses
166
\u2013
166
\u2014 Share-based payments
(1,676)
106
(1,570)
\u2014 Under provision in prior years
(86)
\u2013
(86)
Total income tax expense
5,599
(1,363)
4,236
Effective tax rate
18.5%
N/A
17.2%
1
The prior financial year has been restated to separate the results of discontinued operations, consistent with the
presentation in the current financial year. Refer to note 13 for details of the results of discontinued operations.
In addition, there has been an update to the results presented in the restated comparative period previously
disclosed in the interim report and accounts for the six months ended 31 December 2024. Refer to note 2 for
further details.
The statutory rate of Corporation Tax applied to the taxable profit for the year ended
30 June 2025 is 25.0% (year ended 30 June 2024: 25.0%). Deferred tax assets and liabilities are
calculated at the rate that is expected to be in force when the temporary differences unwind.
27. Net deferred tax liabilities An analysis of the Group\u2019s deferred assets and deferred tax liabilities is shown below: The gross movement on the deferred income tax account during the financial year was as follows:
2025 2024
Note \u00a3\u2019000 \u00a3\u2019000
At 1 July
(5,394)
(6,033)
Liability on acquisition of client relationship
intangible assets
14
(5,744)
\u2013
Credit to the consolidated statement of
comprehensive income
1,357
1,574
Charge recognised in equity
(346)
(935)
Disposal of subsidiary
964
\u2013
At 30 June
(9,163)
(5,394)
The change in deferred income tax assets and liabilities during the financial year was as follows:
Trading
Share- losses Accelerated
based carried capital
payments forward Dilapidations allowances Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Deferred tax assets
At 1 July 2023
2,333
363
119
164
2,979
Credit to the
consolidated statement of
comprehensive income
503
(216)
(7)
(71)
209
Charge to equity
(935)
\u2013
\u2013
\u2013
(935)
At 30 June 2024
1,901
147
112
93
2,253
Disposal of subsidiary
(147)
(4)
3
(148)
Credit to the
consolidated statement of
comprehensive income
2
\u2013
117
106
225
Charge to equity
(346)
\u2013
\u2013
\u2013
(346)
At 30 June 2025
1,557
\u2013
225
202
1,984
2025 2024
\u00a3\u2019000 \u00a3\u2019000
Deferred tax assets
Deferred tax assets to be settled within one year
947
1,192
Deferred tax assets to be settled after more than one year
1,037
1,061
Total deferred tax assets
1,984
2,253
The carrying amount of the deferred tax asset is reviewed at each reporting date and is only recognised to the extent that it is probable that future taxable profits of the Group will allow the asset to be recovered. There is an amount of unrecognised deferred tax in relation to capital losses carried forward at 30 June 2025 of \u00a3859,000. A deferred tax asset is not recognised in these consolidated financial statements, nor the Parent Company financial statements, on the basis that it is not probable that capital gains will be available against which capital losses can be offset. The change in deferred income tax liabilities during the financial year is as follows:
Accelerated
capital allowances Intangible
on research and asset
development amortisation Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Deferred tax liabilities
At 1 July 2023
856
8,156
9,012
Credit to the consolidated statement of
comprehensive income
62
(1,427)
(1,365)
At 30 June 2024
918
6,729
7,647
Disposal of subsidiary
(5)
(1,106)
(1,111)
Acquisition of subsidiaries
\u2013
5,744
5,744
Charge/(credit) to the consolidated statement
of comprehensive income
75
(1,208)
(1,133)
At 30 June 2025
988
10,159
11,147
2025 2024
\u00a3\u2019000 \u00a3\u2019000
Deferred tax liabilities
Deferred tax liabilities to be settled within one year
1,185
1,006
Deferred tax liabilities to be settled after more than one year
9,962
6,641
Total deferred tax liabilities
11,147
7,647
", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-374": { "value": "12. Taxation from continuing operations The current tax expense for the year ended 30 June 2025 was calculated based on the Corporation Tax rate of 25.0% (2024: 25.0%).
2024
2025
restated
1
\u00a3\u2019000
\u00a3\u2019000
UK Corporation Tax
6,670
6,027
Under provision of current tax in prior years
576
202
Total current tax expense
7,246
6,229
Deferred tax credits
(1,357)
(1,705)
Under provision of deferred tax in prior years
\u2013
(288)
Total income tax expense
5,889
4,236
1 The prior financial year has been restated to separate the results of discontinued operations, consistent with the presentation in the current financial year. Refer to note 13 for details of the results of discontinued operations.
Underlying
Underlying profit Statutory
profit adjustments profit
Year ended 30 June 2025 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Profit before taxation from continuing operations
28,905
(11,386)
17,519
Profit multiplied by the standard rate of tax
in the UK of 25.0%
7,226
(2,847)
4,379
Tax effect of amounts that are not deductible/
(taxable) in calculating taxable income:
\u2014 Depreciation and amortisation
(54)
79
25
\u2014 Disallowable expenses
381
983
1,364
\u2014 Share-based payments
(470)
15
(455)
\u2014 Under provision in prior years
576
\u2013
576
Total income tax expense
7,659
(1,770)
5,889
Effective tax rate
26.5%
N/A
33.6%
Underlying
Underlying profit Statutory
profit adjustments profit
Year ended 30 June 2024 restated
1
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Profit before taxation from continuing operations
30,302
(5,687)
24,615
Profit multiplied by the standard rate of tax
in the UK of 25.0%
7,576
(1,422)
6,154
Tax effect of amounts that are not deductible/
(taxable) in calculating taxable income:
\u2014 Depreciation and amortisation
(361)
(47)
(408)
\u2014 Non-taxable income
(20)
\u2013
(20)
\u2014 Disallowable expenses
166
\u2013
166
\u2014 Share-based payments
(1,676)
106
(1,570)
\u2014 Under provision in prior years
(86)
\u2013
(86)
Total income tax expense
5,599
(1,363)
4,236
Effective tax rate
18.5%
N/A
17.2%
1 The prior financial year has been restated to separate the results of discontinued operations, consistent with the presentation in the current financial year. Refer to note 13 for details of the results of discontinued operations. In addition, there has been an update to the results presented in the restated comparative period previously disclosed in the interim report and accounts for the six months ended 31 December 2024. Refer to note 2 for further details. The statutory rate of Corporation Tax applied to the taxable profit for the year ended 30 June 2025 is 25.0% (year ended 30 June 2024: 25.0%). Deferred tax assets and liabilities are calculated at the rate that is expected to be in force when the temporary differences unwind.
27. Net deferred tax liabilities
An analysis of the Group\u2019s deferred assets and deferred tax liabilities is shown below:
The gross movement on the deferred income tax account during the financial year
was as follows:
2025 2024
Note \u00a3\u2019000 \u00a3\u2019000
At 1 July
(5,394)
(6,033)
Liability on acquisition of client relationship
intangible assets
14
(5,744)
\u2013
Credit to the consolidated statement of
comprehensive income
1,357
1,574
Charge recognised in equity
(346)
(935)
Disposal of subsidiary
964
\u2013
At 30 June
(9,163)
(5,394)
The change in deferred income tax assets and liabilities during the financial year was as follows:
Trading
Share- losses Accelerated
based carried capital
payments forward Dilapidations allowances Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Deferred tax assets
At 1 July 2023
2,333
363
119
164
2,979
Credit to the
consolidated statement of
comprehensive income
503
(216)
(7)
(71)
209
Charge to equity
(935)
\u2013
\u2013
\u2013
(935)
At 30 June 2024
1,901
147
112
93
2,253
Disposal of subsidiary
(147)
(4)
3
(148)
Credit to the
consolidated statement of
comprehensive income
2
\u2013
117
106
225
Charge to equity
(346)
\u2013
\u2013
\u2013
(346)
At 30 June 2025
1,557
\u2013
225
202
1,984
2025 2024
\u00a3\u2019000 \u00a3\u2019000
Deferred tax assets
Deferred tax assets to be settled within one year
947
1,192
Deferred tax assets to be settled after more than one year
1,037
1,061
Total deferred tax assets
1,984
2,253
The carrying amount of the deferred tax asset is reviewed at each reporting date and is only
recognised to the extent that it is probable that future taxable profits of the Group will allow the
asset to be recovered. There is an amount of unrecognised deferred tax in relation to capital
losses carried forward at 30 June 2025 of \u00a3859,000. A deferred tax asset is not recognised
in these consolidated financial statements, nor the Parent Company financial statements, on
the basis that it is not probable that capital gains will be available against which capital losses
can be offset.
The change in deferred income tax liabilities during the financial year is as follows:
Accelerated
capital allowances Intangible
on research and asset
development amortisation Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Deferred tax liabilities
At 1 July 2023
856
8,156
9,012
Credit to the consolidated statement of
comprehensive income
62
(1,427)
(1,365)
At 30 June 2024
918
6,729
7,647
Disposal of subsidiary
(5)
(1,106)
(1,111)
Acquisition of subsidiaries
\u2013
5,744
5,744
Charge/(credit) to the consolidated statement
of comprehensive income
75
(1,208)
(1,133)
At 30 June 2025
988
10,159
11,147
2025 2024
\u00a3\u2019000 \u00a3\u2019000
Deferred tax liabilities
Deferred tax liabilities to be settled within one year
1,185
1,006
Deferred tax liabilities to be settled after more than one year
9,962
6,641
Total deferred tax liabilities
11,147
7,647
", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-395": { "value": "
13. Result from discontinued operations
13(a) Summary financials
On 21 February 2025, the Group completed the sale of BMI, which made up the Group\u2019s
previously reported International segment. As a result, the BMI-related operations have been
reclassified as discontinued operations in these consolidated financial statements in accordance
with IFRS 5 \u2018Non-current assets held for sale and discontinued operations\u2019.
Additionally, on 31 October 2024, Brooks Macdonald Asset Management Limited resigned
as investment manager to DCF (subsequently renamed SVS RM Defensive Capital Fund) and
accordingly, the related revenue and expenses have also been reclassified as discontinued
operations in the consolidated statement of comprehensive income.
2024
2025
restated
1
\u00a3\u2019000 \u00a3\u2019000
(Loss)/profit from discontinued operations before tax
(382)
158
Taxation expense on discontinued operations
(199)
(926)
Gain/(loss) on disposal of International disposal group
9,391
(1,513)
Gain on disposal of DCF discontinued operations
936
\u2013
Change in fair value of deferred consideration receivable
(392)
\u2013
Goodwill impairment on discontinued operations
\u2013
(11,641)
Result from discontinued operations
9,354
(13,922)
1
There has been an update to the results presented in the restated comparative period previously disclosed in the
interim report and accounts for the six months ended 31 December 2024. Refer to note 2 for further details.
Cash flow statement of discontinued operations
The net cash flows generated by discontinued operations are as follows:
2025 2024
\u00a3\u2019000 \u00a3\u2019000
Net cash flows from operating activities
1,432
1,963
Net cash flows from investing activities
(25)
516
Net cash flows from financing activities
(254)
(350)
Cash disposed of
(7,402)
\u2013
Net cash flows from discontinued operations
(6,249)
2,129
13(b) International disposal group
Result
The results of discontinued operations for the International disposal group are shown below:
2024
2025 restated1
\u00a3\u2019000 \u00a3\u2019000
Revenue
11,859
19,911
Administrative costs
(12,563)
(20,687)
Operating loss
(704)
(776)
Finance income
283
516
Finance costs
(14)
(39)
Loss before tax
(435)
(299)
Taxation credit/(expense)
12
(812)
Loss after tax
(423)
(1,111)
Gain/(loss) on disposal of International disposal group
9,391
(1,513)
Goodwill impairment on discontinued operations
\u2013
(11,641)
Result from discontinued operations
8,968
(14,265)
1
There has been an update to the results presented in the restated comparative period previously disclosed in the
interim report and accounts for the six months ended 31 December 2024. Refer to note 2 for further details.
In the prior financial year the Group recognised an impairment loss of \u00a311,641,000 against the
International CGU. This followed an impairment review triggered by macroeconomic pressures,
market volatility, and client fund withdrawals.
Gain/(loss) on disposal
2025 2024
\u00a3\u2019000 \u00a3\u2019000
Initial cash consideration
27,147
\u2013
Fair value of deferred contingent consideration receivable
13,649
\u2013
Amounts payable to buyer for employee retention
(2,753)
\u2013
Total consideration
38,043
\u2013
Net assets disposed
(25,017)
\u2013
Costs to sell
(3,635)
(1,513)
Gain/(loss) on disposal of International disposal group
9,391
(1,513)
On completion, the Group received initial cash consideration of \u00a327,147,000. Deferred contingent
consideration of up to \u00a322,850,000 is receivable two years post-completion contingent on BMI
reaching certain revenue targets on an actual and run-rate basis. On disposal, the estimated
fair value of net deferred contingent consideration receivable was \u00a313,649,000. The net assets
disposed represent the net assets of BMI on the Group\u2019s balance sheet as at the completion
date which includes client relationship intangible assets, goodwill and associated deferred tax
liabilities attributable to BMI.
The costs to assist with the disposal of BMI relate to third-party consultancy spend and
corporate advisory fees. \u00a31,513,000 of these costs were incurred in the prior financial year,
therefore the gain recognised in the current financial year excludes these costs.
This gain is presented within profit from discontinued operations in the consolidated statement
of comprehensive income for the year ended 30 June 2025.
13(c) DCF
Result
The results of discontinued operations for DCF are shown below:
2024
2025
restated
1
\u00a3\u2019000 \u00a3\u2019000
Revenue
344
1,669
Administrative costs
(292)
(1,223)
Operating profit
52
446
Net finance income
1
11
Profit before tax
53
457
Taxation
(13)
(114)
Profit after tax
40
343
Gain on disposal of DCF discontinued operations
936
\u2013
Change in fair value of deferred contingent consideration
(392)
\u2013
Taxation on gain on disposal of DCF discontinued operations
(198)
\u2013
Result from discontinued operations
386
343
1
There has been an update to the results presented in the restated comparative period previously disclosed in the
interim report and accounts for the six months ended 31 December 2024. Refer to note 2 for further details.
Gain on disposal
\u00a3\u2019000
Initial cash consideration received
523
Fair value of deferred contingent consideration receivable
658
Total consideration
1,181
Net assets disposed
(245)
Gain on disposal of DCF
936
Initial cash consideration of \u00a3523,000 was received on completion, and additional cash
consideration will be receivable, contingent on funds under management meeting certain
targets over a three-year period post disposal. On disposal, the estimated fair value of deferred
contingent consideration receivable was \u00a3658,000. Net assets disposed is the goodwill
previously recognised by the Group attributable to DCF.
This gain on disposal is presented within profit from discontinued operations in the consolidated
statement of comprehensive income for the year ended 30 June 2025.
", "dimensions": { "concept": "ifrs-full:DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-375": { "value": "13. Result from discontinued operations 13(a) Summary financials On 21 February 2025, the Group completed the sale of BMI, which made up the Group\u2019s previously reported International segment. As a result, the BMI-related operations have been reclassified as discontinued operations in these consolidated financial statements in accordance with IFRS 5 \u2018Non-current assets held for sale and discontinued operations\u2019. Additionally, on 31 October 2024, Brooks Macdonald Asset Management Limited resigned as investment manager to DCF (subsequently renamed SVS RM Defensive Capital Fund) and accordingly, the related revenue and expenses have also been reclassified as discontinued operations in the consolidated statement of comprehensive income.
2024
2025
restated
1
\u00a3\u2019000 \u00a3\u2019000
(Loss)/profit from discontinued operations before tax
(382)
158
Taxation expense on discontinued operations
(199)
(926)
Gain/(loss) on disposal of International disposal group
9,391
(1,513)
Gain on disposal of DCF discontinued operations
936
\u2013
Change in fair value of deferred consideration receivable
(392)
\u2013
Goodwill impairment on discontinued operations
\u2013
(11,641)
Result from discontinued operations
9,354
(13,922)
1 There has been an update to the results presented in the restated comparative period previously disclosed in the interim report and accounts for the six months ended 31 December 2024. Refer to note 2 for further details. Cash flow statement of discontinued operations The net cash flows generated by discontinued operations are as follows:
2025 2024
\u00a3\u2019000 \u00a3\u2019000
Net cash flows from operating activities
1,432
1,963
Net cash flows from investing activities
(25)
516
Net cash flows from financing activities
(254)
(350)
Cash disposed of
(7,402)
\u2013
Net cash flows from discontinued operations
(6,249)
2,129
13(b) International disposal group Result The results of discontinued operations for the International disposal group are shown below:
2024
2025 restated1
\u00a3\u2019000 \u00a3\u2019000
Revenue
11,859
19,911
Administrative costs
(12,563)
(20,687)
Operating loss
(704)
(776)
Finance income
283
516
Finance costs
(14)
(39)
Loss before tax
(435)
(299)
Taxation credit/(expense)
12
(812)
Loss after tax
(423)
(1,111)
Gain/(loss) on disposal of International disposal group
9,391
(1,513)
Goodwill impairment on discontinued operations
\u2013
(11,641)
Result from discontinued operations
8,968
(14,265)
1 There has been an update to the results presented in the restated comparative period previously disclosed in the interim report and accounts for the six months ended 31 December 2024. Refer to note 2 for further details. In the prior financial year the Group recognised an impairment loss of \u00a311,641,000 against the International CGU. This followed an impairment review triggered by macroeconomic pressures, market volatility, and client fund withdrawals. Gain/(loss) on disposal
2025 2024
\u00a3\u2019000 \u00a3\u2019000
Initial cash consideration
27,147
\u2013
Fair value of deferred contingent consideration receivable
13,649
\u2013
Amounts payable to buyer for employee retention
(2,753)
\u2013
Total consideration
38,043
\u2013
Net assets disposed
(25,017)
\u2013
Costs to sell
(3,635)
(1,513)
Gain/(loss) on disposal of International disposal group
9,391
(1,513)
On completion, the Group received initial cash consideration of \u00a327,147,000. Deferred contingent consideration of up to \u00a322,850,000 is receivable two years post-completion contingent on BMI reaching certain revenue targets on an actual and run-rate basis. On disposal, the estimated fair value of net deferred contingent consideration receivable was \u00a313,649,000. The net assets disposed represent the net assets of BMI on the Group\u2019s balance sheet as at the completion date which includes client relationship intangible assets, goodwill and associated deferred tax liabilities attributable to BMI. The costs to assist with the disposal of BMI relate to third-party consultancy spend and corporate advisory fees. \u00a31,513,000 of these costs were incurred in the prior financial year, therefore the gain recognised in the current financial year excludes these costs. This gain is presented within profit from discontinued operations in the consolidated statement of comprehensive income for the year ended 30 June 2025. 13(c) DCF Result The results of discontinued operations for DCF are shown below:
2024
2025
restated
1
\u00a3\u2019000 \u00a3\u2019000
Revenue
344
1,669
Administrative costs
(292)
(1,223)
Operating profit
52
446
Net finance income
1
11
Profit before tax
53
457
Taxation
(13)
(114)
Profit after tax
40
343
Gain on disposal of DCF discontinued operations
936
\u2013
Change in fair value of deferred contingent consideration
(392)
\u2013
Taxation on gain on disposal of DCF discontinued operations
(198)
\u2013
Result from discontinued operations
386
343
1 There has been an update to the results presented in the restated comparative period previously disclosed in the interim report and accounts for the six months ended 31 December 2024. Refer to note 2 for further details. Gain on disposal
\u00a3\u2019000
Initial cash consideration received
523
Fair value of deferred contingent consideration receivable
658
Total consideration
1,181
Net assets disposed
(245)
Gain on disposal of DCF
936
Initial cash consideration of \u00a3523,000 was received on completion, and additional cash consideration will be receivable, contingent on funds under management meeting certain targets over a three-year period post disposal. On disposal, the estimated fair value of deferred contingent consideration receivable was \u00a3658,000. Net assets disposed is the goodwill previously recognised by the Group attributable to DCF. This gain on disposal is presented within profit from discontinued operations in the consolidated statement of comprehensive income for the year ended 30 June 2025.", "dimensions": { "concept": "ifrs-full:DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-333": { "value": "13. Result from discontinued operations 13(a) Summary financials On 21 February 2025, the Group completed the sale of BMI, which made up the Group\u2019s previously reported International segment. As a result, the BMI-related operations have been reclassified as discontinued operations in these consolidated financial statements in accordance with IFRS 5 \u2018Non-current assets held for sale and discontinued operations\u2019. Additionally, on 31 October 2024, Brooks Macdonald Asset Management Limited resigned as investment manager to DCF (subsequently renamed SVS RM Defensive Capital Fund) and accordingly, the related revenue and expenses have also been reclassified as discontinued operations in the consolidated statement of comprehensive income.
2024
2025
restated
1
\u00a3\u2019000 \u00a3\u2019000
(Loss)/profit from discontinued operations before tax
(382)
158
Taxation expense on discontinued operations
(199)
(926)
Gain/(loss) on disposal of International disposal group
9,391
(1,513)
Gain on disposal of DCF discontinued operations
936
\u2013
Change in fair value of deferred consideration receivable
(392)
\u2013
Goodwill impairment on discontinued operations
\u2013
(11,641)
Result from discontinued operations
9,354
(13,922)
1 There has been an update to the results presented in the restated comparative period previously disclosed in the interim report and accounts for the six months ended 31 December 2024. Refer to note 2 for further details. Cash flow statement of discontinued operations The net cash flows generated by discontinued operations are as follows:
2025 2024
\u00a3\u2019000 \u00a3\u2019000
Net cash flows from operating activities
1,432
1,963
Net cash flows from investing activities
(25)
516
Net cash flows from financing activities
(254)
(350)
Cash disposed of
(7,402)
\u2013
Net cash flows from discontinued operations
(6,249)
2,129
13(b) International disposal group Result The results of discontinued operations for the International disposal group are shown below:
2024
2025 restated1
\u00a3\u2019000 \u00a3\u2019000
Revenue
11,859
19,911
Administrative costs
(12,563)
(20,687)
Operating loss
(704)
(776)
Finance income
283
516
Finance costs
(14)
(39)
Loss before tax
(435)
(299)
Taxation credit/(expense)
12
(812)
Loss after tax
(423)
(1,111)
Gain/(loss) on disposal of International disposal group
9,391
(1,513)
Goodwill impairment on discontinued operations
\u2013
(11,641)
Result from discontinued operations
8,968
(14,265)
1 There has been an update to the results presented in the restated comparative period previously disclosed in the interim report and accounts for the six months ended 31 December 2024. Refer to note 2 for further details. In the prior financial year the Group recognised an impairment loss of \u00a311,641,000 against the International CGU. This followed an impairment review triggered by macroeconomic pressures, market volatility, and client fund withdrawals. Gain/(loss) on disposal
2025 2024
\u00a3\u2019000 \u00a3\u2019000
Initial cash consideration
27,147
\u2013
Fair value of deferred contingent consideration receivable
13,649
\u2013
Amounts payable to buyer for employee retention
(2,753)
\u2013
Total consideration
38,043
\u2013
Net assets disposed
(25,017)
\u2013
Costs to sell
(3,635)
(1,513)
Gain/(loss) on disposal of International disposal group
9,391
(1,513)
On completion, the Group received initial cash consideration of \u00a327,147,000. Deferred contingent consideration of up to \u00a322,850,000 is receivable two years post-completion contingent on BMI reaching certain revenue targets on an actual and run-rate basis. On disposal, the estimated fair value of net deferred contingent consideration receivable was \u00a313,649,000. The net assets disposed represent the net assets of BMI on the Group\u2019s balance sheet as at the completion date which includes client relationship intangible assets, goodwill and associated deferred tax liabilities attributable to BMI. The costs to assist with the disposal of BMI relate to third-party consultancy spend and corporate advisory fees. \u00a31,513,000 of these costs were incurred in the prior financial year, therefore the gain recognised in the current financial year excludes these costs. This gain is presented within profit from discontinued operations in the consolidated statement of comprehensive income for the year ended 30 June 2025. 13(c) DCF Result The results of discontinued operations for DCF are shown below:
2024
2025
restated
1
\u00a3\u2019000 \u00a3\u2019000
Revenue
344
1,669
Administrative costs
(292)
(1,223)
Operating profit
52
446
Net finance income
1
11
Profit before tax
53
457
Taxation
(13)
(114)
Profit after tax
40
343
Gain on disposal of DCF discontinued operations
936
\u2013
Change in fair value of deferred contingent consideration
(392)
\u2013
Taxation on gain on disposal of DCF discontinued operations
(198)
\u2013
Result from discontinued operations
386
343
1 There has been an update to the results presented in the restated comparative period previously disclosed in the interim report and accounts for the six months ended 31 December 2024. Refer to note 2 for further details. Gain on disposal
\u00a3\u2019000
Initial cash consideration received
523
Fair value of deferred contingent consideration receivable
658
Total consideration
1,181
Net assets disposed
(245)
Gain on disposal of DCF
936
Initial cash consideration of \u00a3523,000 was received on completion, and additional cash consideration will be receivable, contingent on funds under management meeting certain targets over a three-year period post disposal. On disposal, the estimated fair value of deferred contingent consideration receivable was \u00a3658,000. Net assets disposed is the goodwill previously recognised by the Group attributable to DCF. This gain on disposal is presented within profit from discontinued operations in the consolidated statement of comprehensive income for the year ended 30 June 2025.", "dimensions": { "concept": "ifrs-full:DisclosureOfDiscontinuedOperationsExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-334": { "value": "
14. Business combinations
On 29 October 2024, the Group acquired CST Wealth Management Limited (\u201cCST\u201d), a chartered
financial planning firm based in Wales with assets under advice of c.\u00a3170 million and c.500 clients.
The acquisition consisted of acquiring 100% of the issued share capital of CST.
On 29 November 2024, the Group completed the acquisition of Lucas Fettes (Holdings)
Limited and its wholly-owned subsidiary Lucas Fettes and Partners (Financial Services) Limited
(together \u201cLucas Fettes\u201d), a Norwich-based financial planning provider with assets under advice
of c.\u00a3890 million and c.300 corporate and employee benefit clients. The acquisition consists of
acquiring 100% of the issued share capital of Lucas Fettes.
On 31 January 2025, the Group completed the acquisition of LIFT-Financial Group Limited and
LIFT-Invest Limited (together, \u201cLIFT\u201d). The acquisition brings additional assets under advice of
c.\u00a31.6 billion and c.1,350 clients made up of private individuals, predominantly in financial services
and professional sports, families and corporate clients. In addition to wealth management, LIFT
offers mortgage and insurance services. The acquisition consists of acquiring 100% of the issued
share capital of LIFT.
All three acquisitions were primarily funded through the Group\u2019s existing financial resources
with a small portion of the purchase consideration settled via the issuance of ordinary shares.
The acquisitions align with the Group\u2019s strategy to expand its client reach and accelerate growth
in financial planning. The acquired businesses have been integrated into the Group\u2019s financial
planning business and will enhance its existing financial planning capability. They bring a strong
presence in geographical areas where there is opportunity to grow and complement those
previously and newly acquired businesses.
The acquisitions have been accounted for using the acquisition method and details of the
purchase consideration are as follows:
CST Lucas Fettes LIFT Total
Notes \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Initial cash consideration
1,250
4,294
30,131
35,675
Initial share consideration
i
500
206
\u2013
706
Cash consideration for
excess net assets
ii
1,472
1,382
\u2013
2,854
Deferred contingent
consideration at fair value
iii
1,378
4,281
8,899
14,558
Total purchase
consideration
4,600
10,163
39,030
53,793
i. The Group issued 42,673 ordinary shares to the previous shareholders at a price of \u00a316.41 and
\u00a316.61 per share. The number of shares issued was based on the average 5-day mid-market
share price at the completion date to provide the equivalent consideration value of \u00a3706,000.
ii. In accordance with the relevant sales purchase agreement (\u201cSPA\u201d), the Group was required to
pay the difference between the available capital and the required regulatory capital.
iii. The total estimated fair value of deferred contingent cash consideration at the respective
acquisition dates was \u00a314,558,000, with deferred payments due to be made at either one or
two years post-acquisition contingent on targets relating to client attrition and the underlying
profitability of the acquired businesses. The maximum undiscounted deferred contingent
consideration payable is \u00a321,250,000.
14(a) Net assets acquired through business combinations
CST Lucas Fettes LIFT Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Tangible fixed assets
\u2013
29
53
82
Trade and other receivables
463
1,635
177
2,275
Cash at bank
1,299
894
2,185
4,378
Trade and other payables
(10)
(568)
(488)
(1,066)
Provisions
\u2013
\u2013
(375)
(375)
Corporation tax (payable)/
receivable
(158)
180
(422)
(400)
Total net assets recognised by
acquired companies
1,594
2,170
1,130
4,894
Fair value adjustments:
Client relationship contracts
1,764
5,512
15,701
22,977
Deferred tax liabilities
(441)
(1,378)
(3,925)
(5,744)
Net identifiable assets
2,917
6,304
12,906
22,127
Goodwill
1,683
3,859
26,124
31,666
Total purchase consideration
4,600
10,163
39,030
53,793
The trade and other receivables were recognised at their fair value, being the gross contractual
amounts, deemed fully recoverable.
Client relationship intangible assets of \u00a322,977,000 were recognised on acquisition in respect
of the expected cash inflows and economic benefit from the acquired business. An associated
deferred tax liability of \u00a35,744,000 was recognised in relation to the expected cash inflows on
the acquired client relationship intangible asset. Goodwill of \u00a331,666,000 was recognised on
acquisition in respect of the expected growth in the acquired businesses and associated cash
inflows. The fair value of the assets acquired were the gross contractual amounts and were
all considered to be fully recoverable. The fair value of the identifiable assets and liabilities
acquired, at the dates of acquisition, are detailed above.
14(b) Acquisition impact on reported results
In the period from acquisition to 30 June 2025, the consolidated statement of comprehensive
income included revenue of \u00a39,025,000 and statutory profit before tax of \u00a32,797,000 from the
acquired entities. Had the acquired entities been consolidated from 1 July 2024, the consolidated
statement of comprehensive income would have included revenue of \u00a319,188,000 and statutory
profit before tax of \u00a35,035,000.
14(c) Net cash outflow resulting from business combinations
CST Lucas Fettes LIFT Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Total purchase consideration
4,600
10,163
39,030
53,793
Less shares issued as consideration
(500)
(206)
\u2013
(706)
Less deferred cash contingent
consideration at fair value
(1,378)
(4,282)
(8,899)
(14,559)
Cash paid for acquired businesses
2,722
5,675
30,131
38,528
Less cash held by acquired entities
(1,299)
(894)
(2,185)
(4,378)
Net cash outflow \u2013 investing
activities
1,423
4,781
27,946
34,150
", "dimensions": { "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-335": { "value": "
15. Earnings per share
The Board of Directors considers that underlying earnings per share provides an appropriate
reflection of the Group\u2019s performance in the financial year. Underlying earnings per share
are calculated based on \u2018underlying earnings\u2019, which is defined as earnings after underlying
adjustments listed below. The tax effect of these adjustments has also been considered.
Underlying earnings is an alternative performance measure (\u201cAPM\u201d) used by the Group. Refer
to page 162 for a glossary of the Group\u2019s APMs, their definition and criteria for how underlying
adjustments are considered.
Earnings for the financial year used to calculate earnings per share as reported in these
consolidated financial statements were as follows:
2024
2025
restated
1
Note
\u00a3\u2019000
\u00a3\u2019000
Earnings from continuing operations
11,630
20,379
Earnings/(loss) from discontinued operations
13
9,354
(13,922)
Earnings after tax attributable to ordinary
shareholders
20,984
6,457
Acquisition and integration related costs
4,390
433
Amortisation of acquired client relationships
3,997
3,383
Organisational restructure
2,084
2,129
Move to LSE\u2019s Main Market costs
1,926
\u2013
Head office relocation
1,278
\u2013
Other non-operating items
(2,289)
(258)
Tax impact of underlying profit adjustments
12
(1,770)
(1,362)
Less (earnings)/loss from discontinued operations
13
(9,354)
13,922
Underlying earnings attributable to ordinary
shareholders from continuing operations
21,246
24,704
1
The prior financial year has been restated to separate the results of discontinued operations, consistent with the
presentation in the current financial year. Refer to note 13 for details of the results of discontinued operations.
In addition, there has been an update to the results presented in the restated comparative period previously
disclosed in the interim report and accounts for the six months ended 31 December 2024. Refer to note 2 for
further details.
Other non-operating items primarily relates to a refund from HMRC (\u00a33.1 million) in respect of
VAT arising on the Group\u2019s AIM Portfolio Services as it was confirmed this was exempt from VAT,
covering the period from 1 October 2019 to 30 September 2024. This is partially offset by legacy
legal costs (\u00a30.3 million) and strategy-related review costs conducted as a result of the significant
business change following the acquisitions and BMI disposal (\u00a30.5 million). These items are
excluded from underlying results in view of their non-recurring nature.
Basic earnings per share is calculated by dividing earnings attributable to ordinary shareholders
by the weighted average number of shares in issue throughout the period. Included in the
weighted average number of shares for basic earnings per share purposes are employee share
options at the point all necessary conditions have been satisfied and the options have vested,
even if they have not yet been exercised.
Diluted earnings per share represents the basic earnings per share adjusted for the effect of
dilutive potential shares issuable on exercise of employee share options under the Group\u2019s
share-based payment schemes, weighted for the relevant period. The diluted weighted
average number of shares in issue and diluted earnings per share considers the effect of all
dilutive potential shares issuable on exercise of employee share options. The potential shares
issuable includes the contingently issuable shares related to share awards that have not yet
vested and the vested unissued share options that are either nil cost options or have little
or no consideration.
The weighted average number of shares in issue were as follows:
2025 2024
Number of Number of
shares shares
Weighted average number of shares in issue
16,160,786
16,098,412
Effect of dilutive potential shares issuable on exercise of employee
share options
135,256
275,450
Diluted weighted average number of shares in issue
16,296,042
16,373,862
2024
2025
restated
1
p p
Based on reported earnings:
Basic earnings per share from continuing operations
72.0
126.6
Basic earnings/(loss) per share from discontinued operations
57.9
(86.5)
Total statutory basic earnings per share
129.9
40.1
Diluted earnings per share from continuing operations
71.4
124.5
Diluted earnings/(loss) per share from discontinued operations
57.4
(85.0)
Total statutory diluted earnings per share
128.8
39.5
Based on underlying earnings from continuing operations:
Basic underlying earnings per share
131.5
153.5
Diluted underlying earnings per share
130.4
150.9
1
The prior financial year has been restated to separate the results of discontinued operations, consistent with the
presentation in the current financial year. Refer to note 13 for details of the results of discontinued operations.
In addition, there has been an update to the results presented in the restated comparative period previously
disclosed in the interim report and accounts for the six months ended 31 December 2024. Refer to note 2 for
further details.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-336": { "value": "
16. Dividends
Amounts recognised as distributions to equity holders of the Company in the financial year were
as follows:
2025 2024
\u00a3\u2019000 \u00a3\u2019000
Final dividend paid for the year ended 30 June 2024 of 49.0p
(2023: 47 .0p) per share
7,872
7,467
Interim dividend paid for the year ended 30 June 2025 of 30.0p
(2024: 29.0p) per share
4,823
4,627
Total dividends
12,695
12,094
The interim dividend of 30.0p (2024: 29.0p) per share was paid on 11 April 2025.
A final dividend for the year ended 30 June 2025 of 51. 0p (2024: 49.0p) per share was declared
by the Board of Directors on 3 September 2025 and is subject to approval by the shareholders at
the Company\u2019s Annual General Meeting. It will be paid on 4 November 2025 to shareholders who
are on the register at the close of business on 19 September 2025. Based on the current number
of shares in issue at the date of signing this report, and excluding own shares held, the total
amount payable for the final dividend would be \u00a37.9 million.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-376": { "value": "0.49", "decimals": 3, "dimensions": { "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2023-07-01T00:00:00/2024-07-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-377": { "value": "0.47", "decimals": 3, "dimensions": { "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2022-07-01T00:00:00/2023-07-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-378": { "value": "0.51", "decimals": 3, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-379": { "value": "0.49", "decimals": 3, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2023-07-01T00:00:00/2024-07-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-337": { "value": "
17. Intangible assets
Computer
software
and system Client
development relationship
Goodwill costs contracts Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Cost
At 30 June 2023
64,373
8,830
76,098
149,301
Additions
\u2013
1,734
\u2013
1,734
At 30 June 2024
64,373
10,564
76,098
151,035
Additions
31,667
7,491
22,977
62,135
Disposals
(249)
\u2013
\u2013
(249)
Disposal of subsidiary
(21,243)
\u2013
(29,930)
(51,173)
At 30 June 2025
74,548
18,055
69,145
161,748
Accumulated amortisation and
impairment
At 30 June 2023
11,213
359
37,147
48,719
Amortisation charge
\u2013
1,603
5,848
7,451
Impairment
11,641
\u2013
\u2013
11,641
At 30 June 2024
22,854
1,962
42,995
67,811
Amortisation charge
\u2013
2,480
5,863
8,343
Disposal of subsidiary
(11,641)
\u2013
(22,230)
(33,871)
At 30 June 2025
11,213
4,442
26,628
42,283
Net book value
At 30 June 2023
53,160
8,471
38,951
100,582
At 30 June 2024
41,519
8,602
33,103
83,224
At 30 June 2025
63,335
13,613
42,517
119,465
The amortisation charge of intangible assets is recognised within administrative costs in the
consolidated statement of comprehensive income.
17(a) Goodwill
Goodwill acquired through business combinations is allocated to the respective CGUs
that benefit from the acquisition. Impairment reviews are conducted annually to assess the
recoverability of goodwill. As of 30 June 2025, the impairment assessments determined that no
goodwill impairment is required for the CGUs within the Group.
Carrying amount of goodwill by CGU
2025 2024
CGU \u00a3\u2019000 \u00a3\u2019000
LIFT
26,124
\u2013
Cornelian
15,863
16,111
Adroit
8,541
8,541
Integrity
3,945
3,945
Lucas Fettes
3,859
\u2013
Funds
3,320
3,320
CST
1,683
\u2013
International
\u2013
9,602
Total goodwill
63,335
41,519
During the year ended 30 June 2025, goodwill was acquired through the acquisitions of CST,
Lucas Fettes and LIFT (note 14). Conversely, goodwill related to the disposals of the DCF (which
was part of the Braemar acquisition) and International CGUs were derecognised (note 13).
Impairment assessment method and key assumptions
The recoverable amount of each CGU is estimated using value-in-use calculations based on
five-year cash flow projections, derived from the most recent budgets and forecasts approved
by subsidiary boards. These cash flows are extrapolated using a long-term growth rate of 2%,
reflective of historical performance, management strategies and prevailing economic conditions.
The key judgements and estimates use in the impairment calculations are the pre-tax discount
rates and annual revenue growth. These are set out in the table below and reflect market
conditions and specific business risks of the CGU.
CGU
Pre-tax discount rate
Annual revenue growth
LIFT
11%
7%-8%
Cornelian
12% (2024: 13%)
8%-10% (2024: 8%-9%)
Adroit
12% (2024: 14%)
9%-10% (2024: 9%-15%)
Integrity
14% (2024: 14%)
16%-28% (2024: 8%-13%)
Lucas Fettes
13%
9%-10%
Funds
14% (2024: 15%)
(4)%-0% (2024: 2%-9%)
CST
12%
9%-10%
All CGUs with goodwill showed surplus recoverable amounts over carrying amounts in the impairment assessments as of 30 June 2025. No significant changes to assumptions of CGU-specific risks necessitate further disclosure. Sensitivity analysis: reasonably possible changes to assumptions The below table reflects the sensitivity analysis conducted to determine the potential for impairment under reasonably possible changes in assumptions.
Change in pre-tax Change in revenue
CGU discount rate growth rate
LIFT
Increase to 14%
Reduction to (2)%-(1)%
Cornelian
Increase to 14%
Reduction to 1%-3%
Adroit
Increase to 15%
Reduction to 1%-2%
Integrity
Increase to 22%
Reduction to 0%-12%
Lucas Fettes
Increase to 16%
Reduction to 4%-5%
Funds * *
CST * *
* There are no reasonably possible changes to assumptions that would result in an impairment. 17(b) Computer software Internally developed software is amortised on a straight-line basis over a lifespan of approximately four years, subject to specific project adjustments based on size and usability. 17c) Acquired client relationship contracts Acquired client relationship contracts represent fair value and are amortised over estimated useful lives ranging from six to twenty years. The additions within the financial year relate to client relationships recognised on acquisition, including the acquisition of a portfolio of financial advice clients, totalling \u00a322,977,000.", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-380": { "value": "17(a) Goodwill Goodwill acquired through business combinations is allocated to the respective CGUs that benefit from the acquisition. Impairment reviews are conducted annually to assess the recoverability of goodwill. As of 30 June 2025, the impairment assessments determined that no goodwill impairment is required for the CGUs within the Group. Carrying amount of goodwill by CGU
2025 2024
CGU \u00a3\u2019000 \u00a3\u2019000
LIFT
26,124
\u2013
Cornelian
15,863
16,111
Adroit
8,541
8,541
Integrity
3,945
3,945
Lucas Fettes
3,859
\u2013
Funds
3,320
3,320
CST
1,683
\u2013
International
\u2013
9,602
Total goodwill
63,335
41,519
During the year ended 30 June 2025, goodwill was acquired through the acquisitions of CST, Lucas Fettes and LIFT (note 14). Conversely, goodwill related to the disposals of the DCF (which was part of the Braemar acquisition) and International CGUs were derecognised (note 13). Impairment assessment method and key assumptions The recoverable amount of each CGU is estimated using value-in-use calculations based on five-year cash flow projections, derived from the most recent budgets and forecasts approved by subsidiary boards. These cash flows are extrapolated using a long-term growth rate of 2%, reflective of historical performance, management strategies and prevailing economic conditions. The key judgements and estimates use in the impairment calculations are the pre-tax discount rates and annual revenue growth. These are set out in the table below and reflect market conditions and specific business risks of the CGU.
CGU
Pre-tax discount rate
Annual revenue growth
LIFT
11%
7%-8%
Cornelian
12% (2024: 13%)
8%-10% (2024: 8%-9%)
Adroit
12% (2024: 14%)
9%-10% (2024: 9%-15%)
Integrity
14% (2024: 14%)
16%-28% (2024: 8%-13%)
Lucas Fettes
13%
9%-10%
Funds
14% (2024: 15%)
(4)%-0% (2024: 2%-9%)
CST
12%
9%-10%
All CGUs with goodwill showed surplus recoverable amounts over carrying amounts in
the impairment assessments as of 30 June 2025. No significant changes to assumptions of
CGU-specific risks necessitate further disclosure.
Sensitivity analysis: reasonably possible changes to assumptions
The below table reflects the sensitivity analysis conducted to determine the potential for
impairment under reasonably possible changes in assumptions.
Change in pre-tax Change in revenue
CGU discount rate growth rate
LIFT
Increase to 14%
Reduction to (2)%-(1)%
Cornelian
Increase to 14%
Reduction to 1%-3%
Adroit
Increase to 15%
Reduction to 1%-2%
Integrity
Increase to 22%
Reduction to 0%-12%
Lucas Fettes
Increase to 16%
Reduction to 4%-5%
Funds * *
CST * *
* There are no reasonably possible changes to assumptions that would result in an impairment.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-381": { "value": "
17(b) Computer software
Internally developed software is amortised on a straight-line basis over a lifespan of
approximately four years, subject to specific project adjustments based on size and usability.
17c) Acquired client relationship contracts
Acquired client relationship contracts represent fair value and are amortised over estimated
useful lives ranging from six to twenty years.
The additions within the financial year relate to client relationships recognised on acquisition,
including the acquisition of a portfolio of financial advice clients, totalling \u00a322,977,000.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-338": { "value": "
18. Property, plant and equipment
Fixtures,
fittings
Leasehold and office IT
improvements equipment equipment Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Cost
At 1 July 2023
3,146
642
966
4,754
Additions
13
47
23
83
Disposals
(11)
(3)
(3)
(17)
At 30 June 2024
3,148
686
986
4,820
Additions
2,617
183
477
3,277
Disposals
\u2013
(7)
\u2013
(7)
Disposal of subsidiary
(730)
(151)
(146)
(1,027)
At 30 June 2025
5,035
711
1,317
7,063
Accumulated depreciation
At 1 July 2023
1,647
442
542
2,631
Depreciation charge
571
95
190
856
Depreciation on disposals
(11)
(3)
(3)
(17)
At 30 June 2024
2,207
534
729
3,470
Additions
51
144
138
333
Depreciation charge
384
84
178
646
Disposal of subsidiary
(566)
(105)
(133)
(804)
At 30 June 2025
2,076
657
912
3,645
Net book value
At 30 June 2023
1,499
200
424
2,123
At 30 June 2024
941
152
257
1,350
At 30 June 2025
2,959
54
405
3,418
", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-382": { "value": "
19. Right-of-use assets
Cars Property Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Cost
At 1 July 2023
798
10,138
10,936
Additions
174
1,125
1,299
Adjustment on change of lease terms
(91)
(315)
(406)
At 30 June 2024
881
10,948
11,829
Additions
52
12,423
12,475
Adjustment on change of lease terms
\u2013
(2)
(2)
Disposal of subsidiary
\u2013
(1,970)
(1,970)
At 30 June 2025
933
21,399
22,332
Accumulated depreciation and impairment
At 1 July 2023
195
6,412
6,607
Depreciation charge
210
1,929
2,139
Adjustment on change of lease terms
50
(192)
(142)
At 30 June 2024
455
8,149
8,604
Depreciation charge
192
2,093
2,285
Adjustment on change of lease terms
51
\u2013
51
Disposal of subsidiary
\u2013
(1,809)
(1,809)
Impairment
\u2013
411
411
At 30 June 2025
698
8,844
9,542
Net book value
At 30 June 2023
603
3,726
4,329
At 30 June 2024
426
2,799
3,225
At 30 June 2025
235
12,555
12,790
The Group offers a car leasing arrangement to provide a salary sacrifice car leasing scheme for
employees. Each vehicle leased to individual employees creates a separate right-of-use asset
and lease liability measured at present value of the remaining lease payments, discounted using
the lessee\u2019s estimated incremental borrowing rate (see note 24).
The property additions relate to two new leases that commenced during the financial year.
As at 30 June 2025, the Company recognised right-of-use assets totalling \u00a311,509,000 in respect
of a lease agreement for the Group\u2019s head office relocation, with a 10-year term and no break
options, a rent review scheduled five years from lease commencement, a 25-month rent-free
period at the start of the lease and no rent deposit required. The Company has assessed the
ROU asset of the existing London office for impairment and recognised an impairment charge of
\u00a3411,000 in the statement of comprehensive income.
", "dimensions": { "concept": "ifrs-full:DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-339": { "value": "19. Right-of-use assets
Cars Property Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Cost
At 1 July 2023
798
10,138
10,936
Additions
174
1,125
1,299
Adjustment on change of lease terms
(91)
(315)
(406)
At 30 June 2024
881
10,948
11,829
Additions
52
12,423
12,475
Adjustment on change of lease terms
\u2013
(2)
(2)
Disposal of subsidiary
\u2013
(1,970)
(1,970)
At 30 June 2025
933
21,399
22,332
Accumulated depreciation and impairment
At 1 July 2023
195
6,412
6,607
Depreciation charge
210
1,929
2,139
Adjustment on change of lease terms
50
(192)
(142)
At 30 June 2024
455
8,149
8,604
Depreciation charge
192
2,093
2,285
Adjustment on change of lease terms
51
\u2013
51
Disposal of subsidiary
\u2013
(1,809)
(1,809)
Impairment
\u2013
411
411
At 30 June 2025
698
8,844
9,542
Net book value
At 30 June 2023
603
3,726
4,329
At 30 June 2024
426
2,799
3,225
At 30 June 2025
235
12,555
12,790
The Group offers a car leasing arrangement to provide a salary sacrifice car leasing scheme for employees. Each vehicle leased to individual employees creates a separate right-of-use asset and lease liability measured at present value of the remaining lease payments, discounted using the lessee\u2019s estimated incremental borrowing rate (see note 24). The property additions relate to two new leases that commenced during the financial year. As at 30 June 2025, the Company recognised right-of-use assets totalling \u00a311,509,000 in respect of a lease agreement for the Group\u2019s head office relocation, with a 10-year term and no break options, a rent review scheduled five years from lease commencement, a 25-month rent-free period at the start of the lease and no rent deposit required. The Company has assessed the ROU asset of the existing London office for impairment and recognised an impairment charge of \u00a3411,000 in the statement of comprehensive income.
24. Lease liabilities
Finance costs and financing cash flows associated with leases are reconciled below to show the
movement in the financial year.
Cars Property Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
At 1 July 2023
611
4,530
5,141
Additions
174
1,157
1,331
Adjustment on change of lease terms
(142)
(175)
(317)
Payments made
(225)
(2,311)
(2,536)
Finance cost of lease liabilities
21
174
195
At 30 June 2024
439
3,375
3,814
Additions
52
14,204
14,256
Adjustment on change of lease terms
(57)
3
(54)
Payments made
(203)
(3,016)
(3,219)
Finance cost of lease liabilities
15
280
295
Disposal of subsidiary
\u2013
(174)
(174)
At 30 June 2025
246
14,672
14,918
2025 2024
\u00a3\u2019000 \u00a3\u2019000
Analysed as:
Amounts falling due within one year
700
2,169
Amounts falling due after more than one year
14,218
1,645
Total lease liabilities
14,918
3,814
2025 2024
\u00a3\u2019000 \u00a3\u2019000
Maturity analysis \u2013 undiscounted:
Within one year
1,561
2,054
One to five years
10,454
1,445
More than five years
7,568
\u2013
Total lease liabilities \u2013 undiscounted
19,583
3,499
Reconciliation of lease liability to changes in cash flows
The payments made included in the table above include lease payments of \u00a3254,000 (2024:
\u00a3350,000) relating to leases attributable to discontinued operations up until the date of disposal.
The Group offers a car leasing arrangement to provide a salary sacrifice car leasing scheme
for employees. Each vehicle leased to individual employees creates a separate right-of-use
asset (note 19) and lease liability measured at present value of the remaining lease payments,
discounted using the lessee\u2019s estimated incremental borrowing rate.
The Group is party to leases as lessee in relation to property agreements for the use of office
space. All leases are accounted for by recognising a right-of-use asset and a lease liability at
the lease commencement date. Lease liabilities are initially measured at the present value of
the contractual payments due to the lessor over the lease term discounted using the Group\u2019s
incremental borrowing rate.
During the financial year, the Group recognised a new lease liability of \u00a312,973,000 in relation to its
new London head office. Further details of the lease are disclosed in note 19.
", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-340": { "value": "
20. Financial assets and liabilities
Financial assets and liabilities comprise the following:
2025 2024
Financial assets \u00a3\u2019000 \u00a3\u2019000
Financial assets at fair value through other comprehensive income
\u2013
500
Financial assets measured at amortised cost
56,243
78,089
Financial assets held at amortised cost
19,925
29,963
Cash and cash equivalents (note 23)
33,915
44,731
Trade and other receivable (note 22)
2,403
3,395
Financial assets at fair value through profit and loss
15,283
905
Financial assets held at fair value through profit and loss
1,095
905
Deferred contingent consideration receivable (note 21)
14,188
\u2013
Total financial assets
71,526
79,494
2025 2024
Financial liabilities \u00a3\u2019000 \u00a3\u2019000
Financial assets measured at amortised cost
7,959
3,728
Trade payables (note 29)
7,959
3,728
Financial liabilities measured at fair value through profit and loss
16,105
\u2013
Deferred contingent consideration payable (note 26)
16,105
\u2013
Total financial liabilities
24,064
3,728
20(a) Financial assets held at amortised cost
2025 2024
\u00a3\u2019000 \u00a3\u2019000
At 1 July
29,963
\u2013
Additions
\u2013
29,978
Disposals
(9,959)
\u2013
Interest income under EIR method
1,108
197
Contractual coupons received
(1,187)
(212)
At 30 June
19,925
29,963
The Group holds UK Government Investment Loan and Treasury Stock (\u201cGilts\u201d). The Gilts carry
coupon rates ranging from 1.5%-4.5% per annum and have maturity dates ranging from 2026-2028.
The Group partially disposed of its Gilts holding to meet a short-term liquidity requirement to
fund the acquisition of LIFT. Refer to note 4(k) for further detail on the accounting treatment of
financial assets held at amortised cost.
20(b) Financial assets at fair value through other comprehensive income
2025 2024
\u00a3\u2019000 \u00a3\u2019000
At 1 July
500
500
Disposal
(500)
\u2013
At 30 June
\u2013
500
During the year ended 30 June 2025, the Group disposed of its investment of redeemable
\u00a3500,000 preference shares in an unlisted company incorporated in the UK.
20(c) Financial assets at fair value through profit or loss
2025 2024
\u00a3\u2019000 \u00a3\u2019000
At 1 July
905
825
Additions
14,453
\u2013
Changes in fair value
(75)
80
At 30 June
15,283
905
Included in financial assets at fair value through profit and loss are amounts related to deferred
contingent consideration receivable of \u00a314,188,000 (see note 21 for further details).
The Group holds 500,000 shares in five of the SVS Cornelian Risk Managed Passive Funds. During
the year ended 30 June 2025, the Group recognised a gain on these investments of \u00a325,000. The
Group\u2019s holding in the SVS Cornelian Risk Managed Passive Funds at 30 June 2025 was \u00a3676,000.
The Group previously invested \u00a3215,000 in the Blueprint Multi Asset Fund range across the
various models within the fund range. During the year ended 30 June 2025, the Group recognised
a gain on these investments of \u00a314,000. The Group\u2019s holding in the Blueprint Multi Asset Fund
range at 30 June 2025 was \u00a3268,000. Within the year, the Group invested an additional \u00a3135,000
in the MPS Fund and \u00a311,000 in the Cornelian J Class fund range. These investments generated
a combined gain of \u00a35,000. As of year-end, the Group\u2019s total holdings across these fund ranges
amounted to \u00a3151,000.
20(d) Levelling analysis
The following table provides an analysis of the financial assets and liabilities that, subsequent to
initial recognition, are measured at fair value. These are grouped into the following levels within
the fair value hierarchy, based on the degree to which the inputs used to determine the fair value
are observable:
\u2022 Level 1 \u2013 derived from quoted prices in active markets for identical assets or liabilities at the
measurement date;
\u2022 Level 2 \u2013 derived from inputs other than quoted prices included within Level 1 that are
observable, either directly or indirectly; and
\u2022 Level 3 \u2013 derived from inputs that are not based on observable market data.
Level 1 Level 2 Level 3 Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Financial assets
At 1 July 2024
905
\u2013
500
1,405
Additions
146
\u2013
14,307
14,453
Net changes in fair value
44
\u2013
(392)
(348)
Finance income on deferred
contingent consideration receivable
\u2013
\u2013
273
273
Disposals
\u2013
\u2013
(500)
(500)
At 30 June 2025
1,095
\u2013
14,188
15,283
Level 3 financial assets include an addition for deferred contingent consideration receivable,
which due to materiality is separately disclosed on the consolidated statement of financial
position. Disposals during the period relate to unlisted preference shares, which are valued using
a perpetuity income model, based upon the preference dividend cash flows. The fair value of the
assets was not deemed to be impacted by changes in the unobservable inputs as the dividend
cash flows were contractual.
Level 1 Level 2 Level 3 Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Financial liabilities
At 1 July 2024
\u2013
\u2013
\u2013
\u2013
Additions
\u2013
\u2013
15,338
15,338
Finance cost of deferred contingent
consideration payable
\u2013
\u2013
426
426
Net changes in fair value
\u2013
\u2013
341
341
At 30 June 2025
\u2013
\u2013
16,105
16,105
Level 3 financial liabilities relate to deferred contingent consideration payable, valued using the
net present value of the expected future amounts payable. The key inputs are management-
approved forecasts and expectations against the criteria of the deferred contingent
consideration to set expectations of future amounts payable. The deferred contingent
consideration is reviewed and revalued at regular intervals over the deferred contingent
consideration period (refer to note 26). The fair value is sensitive to the change in management-
approved forecasts, which relate to revenue and AUM projections for future periods, however, at
each reporting date, the relevant management approved forecasts are deemed to be the most
accurate and relevant input to the fair value measurement.
34. Financial risk management
The Group has identified the financial risks arising from its activities and has established policies and procedures as part of a formal structure for managing risk, including establishing risk lines,
reporting lines, mandates and other control procedures. The structure is reviewed regularly. The Group does not use derivative financial instruments for risk management purposes.
34(a) Liquidity risk
Liquidity risk is the risk that the Group is unable to meet its payment obligations associated with its financial liabilities when they fall due. The primary objective of the Group\u2019s treasury policy is to manage
short-term liquidity requirements and to ensure that the Group maintains a surplus of immediately realisable assets over its liabilities, such that all known and potential cash obligations can be met.
The table below shows the Group\u2019s undiscounted cash inflows and outflows from non-derivative financial assets and liabilities, together with cash and bank balances available on demand.
After
Not more 3 months After 1 year
On than but not more but not more No fixed
demand 3 months than 1 year than 6 years payment date Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
At 30 June 2025
Cash flows from financial assets
Financial assets at amortised cost
\u2013
205
419
19,301
\u2013
19,925
Financial assets at fair value through profit or loss
\u2013
\u2013
\u2013
\u2013
1,095
1,095
Deferred contingent consideration receivable
\u2013
\u2013
\u2013
14,188
\u2013
14,188
Cash and balances at bank
33,915
\u2013
\u2013
\u2013
\u2013
33,915
Trade receivables
\u2013
832
\u2013
\u2013
\u2013
832
Other receivables
\u2013
1,571
\u2013
\u2013
\u2013
1,571
Cash flows from financial liabilities
33,915
2,608
419
33,489
1,095
71,526
Trade payables
\u2013
(7,959)
\u2013
\u2013
\u2013
(7,959)
Deferred contingent consideration payable
\u2013
\u2013
(14,176)
(1,929)
\u2013
(16,105)
Accruals and deferred income
\u2013
(19,277)
\u2013
\u2013
\u2013
(19,277)
Other financial liabilities
\u2013
(6,070)
(544)
(1,817)
\u2013
(8,431)
\u2013
(33,306)
(14,720)
(3,746)
\u2013
(51,772)
Net liquidity surplus/(gap)
33,915
(30,698)
(14,301)
29,743
1,095
19,754
At 30 June 2024
Cash flows from financial assets
Financial assets at amortised cost*
\u2013
379
593
28,991
\u2013
29,963
Financial assets at fair value through other comprehensive income
\u2013
\u2013
\u2013
500
\u2013
500
Financial assets at fair value through profit or loss
\u2013
\u2013
\u2013
\u2013
905
905
Cash and balances at bank
44,731
\u2013
\u2013
\u2013
\u2013
44,731
Trade receivables
\u2013
2,899
\u2013
\u2013
\u2013
2,899
Other receivables
\u2013
496
\u2013
\u2013
\u2013
496
Cash flows from financial liabilities
44,731
3,774
593
29,491
905
79,494
Trade payables
\u2013
(3,728)
\u2013
\u2013
\u2013
(3,728)
Other financial liabilities
\u2013
(25,618)
(2,206)
(2,032)
\u2013
(29,856)
\u2013
(29,346)
(2,206)
(2,032)
\u2013
(33,584)
Net liquidity surplus/(gap)
44,731
(25,572)
(1,613)
27,459
905
45,910
* Prior year figures have been restated to separately disclose \u00a3972,000 of interest receivable relating to Gilts.
34(b) Market risk
Interest rate risk
The Group has limited exposure to interest rate risk due to fluctuations in the prevailing level
of market interest rates. Surplus cash is invested in short-term deposits with maturity dates not
exceeding three months and money market funds. Investments in Gilts are at a fixed interest rate.
A 1% fall in the average monthly interest rate receivable on the Group\u2019s cash and cash equivalents
would have the impact of reducing interest receivable and therefore profit before taxation by
\u00a3339,000 (2024: \u00a3447,000). An increase of 1% would have an equal and opposite effect.
Foreign exchange risk
The Group does not have any material exposure to transactional foreign currency risk, and
therefore no analysis of foreign exchange risk is provided.
Price risk
Price risk is the risk that the fair value of the future cash flows from financial instruments will
fluctuate due to changes in market prices (other than those arising from interest rate risk or
currency risk). The Group is exposed to price risk through its holdings of equity securities and
other financial assets, which are measured at fair value in the consolidated statement of financial
position (note 20). A 1% fall in the value of these financial instruments would have the impact of
reducing total comprehensive income by \u00a311,000 (2024: \u00a314,000). An increase of 1% would have an
equal and opposite effect.
34(c) Credit risk
The Group may elect to invest surplus cash balances in highly liquid money market instruments
with maturity dates not exceeding three months. The difference between the fair value and the
net book value of these instruments is not material. To reduce the risk of a counterparty default,
the Group deposits the rest of its funds in approved, high-quality banks. As part of the Group\u2019s
strict due diligence assessment, there is a requirement for all banking counterparties to have a
minimum credit rating of BBB+.
In line with the Group\u2019s corporate treasury policy, during the year ended 30 June 2025, the
Group invested a proportion of surplus cash resources into UK Gilts. The credit risk severity
is considered minimal due to the inherent government backing. A minimum credit rating
requirement for Gilts as part of the Group\u2019s strategy has therefore been set at \u2018AA\u2019, which aligns to
the current credit rating of UK Gilts.
Assets exposed to credit risk recognised on the consolidated statement of financial position
total \u00a333,915,000 (2024: \u00a344,732,000), being the Group\u2019s total cash and cash equivalents.
Trade receivables with a carrying amount of \u00a3832,000 (2024: \u00a32,899,000) are neither past due
nor impaired. Trade receivables have no external credit rating as they relate to individual clients,
although the value of investments held in each individual client\u2019s portfolio is always in excess of
the total value of the receivable. All trade receivables fall due within one year (2024: one year).
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-383": { "value": "20. Financial assets and liabilities Financial assets and liabilities comprise the following:
2025 2024
Financial assets \u00a3\u2019000 \u00a3\u2019000
Financial assets at fair value through other comprehensive income
\u2013
500
Financial assets measured at amortised cost
56,243
78,089
Financial assets held at amortised cost
19,925
29,963
Cash and cash equivalents (note 23)
33,915
44,731
Trade and other receivable (note 22)
2,403
3,395
Financial assets at fair value through profit and loss
15,283
905
Financial assets held at fair value through profit and loss
1,095
905
Deferred contingent consideration receivable (note 21)
14,188
\u2013
Total financial assets
71,526
79,494
2025 2024
Financial liabilities \u00a3\u2019000 \u00a3\u2019000
Financial assets measured at amortised cost
7,959
3,728
Trade payables (note 29)
7,959
3,728
Financial liabilities measured at fair value through profit and loss
16,105
\u2013
Deferred contingent consideration payable (note 26)
16,105
\u2013
Total financial liabilities
24,064
3,728
20(a) Financial assets held at amortised cost
2025 2024
\u00a3\u2019000 \u00a3\u2019000
At 1 July
29,963
\u2013
Additions
\u2013
29,978
Disposals
(9,959)
\u2013
Interest income under EIR method
1,108
197
Contractual coupons received
(1,187)
(212)
At 30 June
19,925
29,963
The Group holds UK Government Investment Loan and Treasury Stock (\u201cGilts\u201d). The Gilts carry coupon rates ranging from 1.5%-4.5% per annum and have maturity dates ranging from 2026-2028. The Group partially disposed of its Gilts holding to meet a short-term liquidity requirement to fund the acquisition of LIFT. Refer to note 4(k) for further detail on the accounting treatment of financial assets held at amortised cost. 20(b) Financial assets at fair value through other comprehensive income
2025 2024
\u00a3\u2019000 \u00a3\u2019000
At 1 July
500
500
Disposal
(500)
\u2013
At 30 June
\u2013
500
During the year ended 30 June 2025, the Group disposed of its investment of redeemable \u00a3500,000 preference shares in an unlisted company incorporated in the UK. 20(c) Financial assets at fair value through profit or loss
2025 2024
\u00a3\u2019000 \u00a3\u2019000
At 1 July
905
825
Additions
14,453
\u2013
Changes in fair value
(75)
80
At 30 June
15,283
905
Included in financial assets at fair value through profit and loss are amounts related to deferred contingent consideration receivable of \u00a314,188,000 (see note 21 for further details). The Group holds 500,000 shares in five of the SVS Cornelian Risk Managed Passive Funds. During the year ended 30 June 2025, the Group recognised a gain on these investments of \u00a325,000. The Group\u2019s holding in the SVS Cornelian Risk Managed Passive Funds at 30 June 2025 was \u00a3676,000. The Group previously invested \u00a3215,000 in the Blueprint Multi Asset Fund range across the various models within the fund range. During the year ended 30 June 2025, the Group recognised a gain on these investments of \u00a314,000. The Group\u2019s holding in the Blueprint Multi Asset Fund range at 30 June 2025 was \u00a3268,000. Within the year, the Group invested an additional \u00a3135,000 in the MPS Fund and \u00a311,000 in the Cornelian J Class fund range. These investments generated a combined gain of \u00a35,000. As of year-end, the Group\u2019s total holdings across these fund ranges amounted to \u00a3151,000. 20(d) Levelling analysis The following table provides an analysis of the financial assets and liabilities that, subsequent to initial recognition, are measured at fair value. These are grouped into the following levels within the fair value hierarchy, based on the degree to which the inputs used to determine the fair value are observable: \u2022 Level 1 \u2013 derived from quoted prices in active markets for identical assets or liabilities at the measurement date; \u2022 Level 2 \u2013 derived from inputs other than quoted prices included within Level 1 that are observable, either directly or indirectly; and \u2022 Level 3 \u2013 derived from inputs that are not based on observable market data.
Level 1 Level 2 Level 3 Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Financial assets
At 1 July 2024
905
\u2013
500
1,405
Additions
146
\u2013
14,307
14,453
Net changes in fair value
44
\u2013
(392)
(348)
Finance income on deferred
contingent consideration receivable
\u2013
\u2013
273
273
Disposals
\u2013
\u2013
(500)
(500)
At 30 June 2025
1,095
\u2013
14,188
15,283
Level 3 financial assets include an addition for deferred contingent consideration receivable, which due to materiality is separately disclosed on the consolidated statement of financial position. Disposals during the period relate to unlisted preference shares, which are valued using a perpetuity income model, based upon the preference dividend cash flows. The fair value of the assets was not deemed to be impacted by changes in the unobservable inputs as the dividend cash flows were contractual.
Level 1 Level 2 Level 3 Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Financial liabilities
At 1 July 2024
\u2013
\u2013
\u2013
\u2013
Additions
\u2013
\u2013
15,338
15,338
Finance cost of deferred contingent
consideration payable
\u2013
\u2013
426
426
Net changes in fair value
\u2013
\u2013
341
341
At 30 June 2025
\u2013
\u2013
16,105
16,105
Level 3 financial liabilities relate to deferred contingent consideration payable, valued using the net present value of the expected future amounts payable. The key inputs are management- approved forecasts and expectations against the criteria of the deferred contingent consideration to set expectations of future amounts payable. The deferred contingent consideration is reviewed and revalued at regular intervals over the deferred contingent consideration period (refer to note 26). The fair value is sensitive to the change in management- approved forecasts, which relate to revenue and AUM projections for future periods, however, at each reporting date, the relevant management approved forecasts are deemed to be the most accurate and relevant input to the fair value measurement. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-396": { "value": "20. Financial assets and liabilities Financial assets and liabilities comprise the following:
2025 2024
Financial assets \u00a3\u2019000 \u00a3\u2019000
Financial assets at fair value through other comprehensive income
\u2013
500
Financial assets measured at amortised cost
56,243
78,089
Financial assets held at amortised cost
19,925
29,963
Cash and cash equivalents (note 23)
33,915
44,731
Trade and other receivable (note 22)
2,403
3,395
Financial assets at fair value through profit and loss
15,283
905
Financial assets held at fair value through profit and loss
1,095
905
Deferred contingent consideration receivable (note 21)
14,188
\u2013
Total financial assets
71,526
79,494
2025 2024
Financial liabilities \u00a3\u2019000 \u00a3\u2019000
Financial assets measured at amortised cost
7,959
3,728
Trade payables (note 29)
7,959
3,728
Financial liabilities measured at fair value through profit and loss
16,105
\u2013
Deferred contingent consideration payable (note 26)
16,105
\u2013
Total financial liabilities
24,064
3,728
20(a) Financial assets held at amortised cost
2025 2024
\u00a3\u2019000 \u00a3\u2019000
At 1 July
29,963
\u2013
Additions
\u2013
29,978
Disposals
(9,959)
\u2013
Interest income under EIR method
1,108
197
Contractual coupons received
(1,187)
(212)
At 30 June
19,925
29,963
The Group holds UK Government Investment Loan and Treasury Stock (\u201cGilts\u201d). The Gilts carry coupon rates ranging from 1.5%-4.5% per annum and have maturity dates ranging from 2026-2028. The Group partially disposed of its Gilts holding to meet a short-term liquidity requirement to fund the acquisition of LIFT. Refer to note 4(k) for further detail on the accounting treatment of financial assets held at amortised cost. 20(b) Financial assets at fair value through other comprehensive income
2025 2024
\u00a3\u2019000 \u00a3\u2019000
At 1 July
500
500
Disposal
(500)
\u2013
At 30 June
\u2013
500
During the year ended 30 June 2025, the Group disposed of its investment of redeemable \u00a3500,000 preference shares in an unlisted company incorporated in the UK. 20(c) Financial assets at fair value through profit or loss
2025 2024
\u00a3\u2019000 \u00a3\u2019000
At 1 July
905
825
Additions
14,453
\u2013
Changes in fair value
(75)
80
At 30 June
15,283
905
Included in financial assets at fair value through profit and loss are amounts related to deferred contingent consideration receivable of \u00a314,188,000 (see note 21 for further details). The Group holds 500,000 shares in five of the SVS Cornelian Risk Managed Passive Funds. During the year ended 30 June 2025, the Group recognised a gain on these investments of \u00a325,000. The Group\u2019s holding in the SVS Cornelian Risk Managed Passive Funds at 30 June 2025 was \u00a3676,000. The Group previously invested \u00a3215,000 in the Blueprint Multi Asset Fund range across the various models within the fund range. During the year ended 30 June 2025, the Group recognised a gain on these investments of \u00a314,000. The Group\u2019s holding in the Blueprint Multi Asset Fund range at 30 June 2025 was \u00a3268,000. Within the year, the Group invested an additional \u00a3135,000 in the MPS Fund and \u00a311,000 in the Cornelian J Class fund range. These investments generated a combined gain of \u00a35,000. As of year-end, the Group\u2019s total holdings across these fund ranges amounted to \u00a3151,000. 20(d) Levelling analysis The following table provides an analysis of the financial assets and liabilities that, subsequent to initial recognition, are measured at fair value. These are grouped into the following levels within the fair value hierarchy, based on the degree to which the inputs used to determine the fair value are observable: \u2022 Level 1 \u2013 derived from quoted prices in active markets for identical assets or liabilities at the measurement date; \u2022 Level 2 \u2013 derived from inputs other than quoted prices included within Level 1 that are observable, either directly or indirectly; and \u2022 Level 3 \u2013 derived from inputs that are not based on observable market data.
Level 1 Level 2 Level 3 Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Financial assets
At 1 July 2024
905
\u2013
500
1,405
Additions
146
\u2013
14,307
14,453
Net changes in fair value
44
\u2013
(392)
(348)
Finance income on deferred
contingent consideration receivable
\u2013
\u2013
273
273
Disposals
\u2013
\u2013
(500)
(500)
At 30 June 2025
1,095
\u2013
14,188
15,283
Level 3 financial assets include an addition for deferred contingent consideration receivable, which due to materiality is separately disclosed on the consolidated statement of financial position. Disposals during the period relate to unlisted preference shares, which are valued using a perpetuity income model, based upon the preference dividend cash flows. The fair value of the assets was not deemed to be impacted by changes in the unobservable inputs as the dividend cash flows were contractual.
Level 1 Level 2 Level 3 Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Financial liabilities
At 1 July 2024
\u2013
\u2013
\u2013
\u2013
Additions
\u2013
\u2013
15,338
15,338
Finance cost of deferred contingent
consideration payable
\u2013
\u2013
426
426
Net changes in fair value
\u2013
\u2013
341
341
At 30 June 2025
\u2013
\u2013
16,105
16,105
Level 3 financial liabilities relate to deferred contingent consideration payable, valued using the net present value of the expected future amounts payable. The key inputs are management- approved forecasts and expectations against the criteria of the deferred contingent consideration to set expectations of future amounts payable. The deferred contingent consideration is reviewed and revalued at regular intervals over the deferred contingent consideration period (refer to note 26). The fair value is sensitive to the change in management- approved forecasts, which relate to revenue and AUM projections for future periods, however, at each reporting date, the relevant management approved forecasts are deemed to be the most accurate and relevant input to the fair value measurement. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-412": { "value": "20(b) Financial assets at fair value through other comprehensive income
2025 2024
\u00a3\u2019000 \u00a3\u2019000
At 1 July
500
500
Disposal
(500)
\u2013
At 30 June
\u2013
500
During the year ended 30 June 2025, the Group disposed of its investment of redeemable \u00a3500,000 preference shares in an unlisted company incorporated in the UK. 20(c) Financial assets at fair value through profit or loss
2025 2024
\u00a3\u2019000 \u00a3\u2019000
At 1 July
905
825
Additions
14,453
\u2013
Changes in fair value
(75)
80
At 30 June
15,283
905
Included in financial assets at fair value through profit and loss are amounts related to deferred contingent consideration receivable of \u00a314,188,000 (see note 21 for further details). The Group holds 500,000 shares in five of the SVS Cornelian Risk Managed Passive Funds. During the year ended 30 June 2025, the Group recognised a gain on these investments of \u00a325,000. The Group\u2019s holding in the SVS Cornelian Risk Managed Passive Funds at 30 June 2025 was \u00a3676,000. The Group previously invested \u00a3215,000 in the Blueprint Multi Asset Fund range across the various models within the fund range. During the year ended 30 June 2025, the Group recognised a gain on these investments of \u00a314,000. The Group\u2019s holding in the Blueprint Multi Asset Fund range at 30 June 2025 was \u00a3268,000. Within the year, the Group invested an additional \u00a3135,000 in the MPS Fund and \u00a311,000 in the Cornelian J Class fund range. These investments generated a combined gain of \u00a35,000. As of year-end, the Group\u2019s total holdings across these fund ranges amounted to \u00a3151,000. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-410": { "value": "20(b) Financial assets at fair value through other comprehensive income
2025 2024
\u00a3\u2019000 \u00a3\u2019000
At 1 July
500
500
Disposal
(500)
\u2013
At 30 June
\u2013
500
During the year ended 30 June 2025, the Group disposed of its investment of redeemable \u00a3500,000 preference shares in an unlisted company incorporated in the UK. 20(c) Financial assets at fair value through profit or loss
2025 2024
\u00a3\u2019000 \u00a3\u2019000
At 1 July
905
825
Additions
14,453
\u2013
Changes in fair value
(75)
80
At 30 June
15,283
905
Included in financial assets at fair value through profit and loss are amounts related to deferred contingent consideration receivable of \u00a314,188,000 (see note 21 for further details). The Group holds 500,000 shares in five of the SVS Cornelian Risk Managed Passive Funds. During the year ended 30 June 2025, the Group recognised a gain on these investments of \u00a325,000. The Group\u2019s holding in the SVS Cornelian Risk Managed Passive Funds at 30 June 2025 was \u00a3676,000. The Group previously invested \u00a3215,000 in the Blueprint Multi Asset Fund range across the various models within the fund range. During the year ended 30 June 2025, the Group recognised a gain on these investments of \u00a314,000. The Group\u2019s holding in the Blueprint Multi Asset Fund range at 30 June 2025 was \u00a3268,000. Within the year, the Group invested an additional \u00a3135,000 in the MPS Fund and \u00a311,000 in the Cornelian J Class fund range. These investments generated a combined gain of \u00a35,000. As of year-end, the Group\u2019s total holdings across these fund ranges amounted to \u00a3151,000. 20(d) Levelling analysis The following table provides an analysis of the financial assets and liabilities that, subsequent to initial recognition, are measured at fair value. These are grouped into the following levels within the fair value hierarchy, based on the degree to which the inputs used to determine the fair value are observable: \u2022 Level 1 \u2013 derived from quoted prices in active markets for identical assets or liabilities at the measurement date; \u2022 Level 2 \u2013 derived from inputs other than quoted prices included within Level 1 that are observable, either directly or indirectly; and \u2022 Level 3 \u2013 derived from inputs that are not based on observable market data.
Level 1 Level 2 Level 3 Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Financial assets
At 1 July 2024
905
\u2013
500
1,405
Additions
146
\u2013
14,307
14,453
Net changes in fair value
44
\u2013
(392)
(348)
Finance income on deferred
contingent consideration receivable
\u2013
\u2013
273
273
Disposals
\u2013
\u2013
(500)
(500)
At 30 June 2025
1,095
\u2013
14,188
15,283
Level 3 financial assets include an addition for deferred contingent consideration receivable, which due to materiality is separately disclosed on the consolidated statement of financial position. Disposals during the period relate to unlisted preference shares, which are valued using a perpetuity income model, based upon the preference dividend cash flows. The fair value of the assets was not deemed to be impacted by changes in the unobservable inputs as the dividend cash flows were contractual.
Level 1 Level 2 Level 3 Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Financial liabilities
At 1 July 2024
\u2013
\u2013
\u2013
\u2013
Additions
\u2013
\u2013
15,338
15,338
Finance cost of deferred contingent
consideration payable
\u2013
\u2013
426
426
Net changes in fair value
\u2013
\u2013
341
341
At 30 June 2025
\u2013
\u2013
16,105
16,105
Level 3 financial liabilities relate to deferred contingent consideration payable, valued using the net present value of the expected future amounts payable. The key inputs are management- approved forecasts and expectations against the criteria of the deferred contingent consideration to set expectations of future amounts payable. The deferred contingent consideration is reviewed and revalued at regular intervals over the deferred contingent consideration period (refer to note 26). The fair value is sensitive to the change in management- approved forecasts, which relate to revenue and AUM projections for future periods, however, at each reporting date, the relevant management approved forecasts are deemed to be the most accurate and relevant input to the fair value measurement. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-407": { "value": "20(b) Financial assets at fair value through other comprehensive income
2025 2024
\u00a3\u2019000 \u00a3\u2019000
At 1 July
500
500
Disposal
(500)
\u2013
At 30 June
\u2013
500
During the year ended 30 June 2025, the Group disposed of its investment of redeemable \u00a3500,000 preference shares in an unlisted company incorporated in the UK. 20(c) Financial assets at fair value through profit or loss
2025 2024
\u00a3\u2019000 \u00a3\u2019000
At 1 July
905
825
Additions
14,453
\u2013
Changes in fair value
(75)
80
At 30 June
15,283
905
Included in financial assets at fair value through profit and loss are amounts related to deferred contingent consideration receivable of \u00a314,188,000 (see note 21 for further details). The Group holds 500,000 shares in five of the SVS Cornelian Risk Managed Passive Funds. During the year ended 30 June 2025, the Group recognised a gain on these investments of \u00a325,000. The Group\u2019s holding in the SVS Cornelian Risk Managed Passive Funds at 30 June 2025 was \u00a3676,000. The Group previously invested \u00a3215,000 in the Blueprint Multi Asset Fund range across the various models within the fund range. During the year ended 30 June 2025, the Group recognised a gain on these investments of \u00a314,000. The Group\u2019s holding in the Blueprint Multi Asset Fund range at 30 June 2025 was \u00a3268,000. Within the year, the Group invested an additional \u00a3135,000 in the MPS Fund and \u00a311,000 in the Cornelian J Class fund range. These investments generated a combined gain of \u00a35,000. As of year-end, the Group\u2019s total holdings across these fund ranges amounted to \u00a3151,000. 20(d) Levelling analysis The following table provides an analysis of the financial assets and liabilities that, subsequent to initial recognition, are measured at fair value. These are grouped into the following levels within the fair value hierarchy, based on the degree to which the inputs used to determine the fair value are observable: \u2022 Level 1 \u2013 derived from quoted prices in active markets for identical assets or liabilities at the measurement date; \u2022 Level 2 \u2013 derived from inputs other than quoted prices included within Level 1 that are observable, either directly or indirectly; and \u2022 Level 3 \u2013 derived from inputs that are not based on observable market data.
Level 1 Level 2 Level 3 Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Financial assets
At 1 July 2024
905
\u2013
500
1,405
Additions
146
\u2013
14,307
14,453
Net changes in fair value
44
\u2013
(392)
(348)
Finance income on deferred
contingent consideration receivable
\u2013
\u2013
273
273
Disposals
\u2013
\u2013
(500)
(500)
At 30 June 2025
1,095
\u2013
14,188
15,283
Level 3 financial assets include an addition for deferred contingent consideration receivable, which due to materiality is separately disclosed on the consolidated statement of financial position. Disposals during the period relate to unlisted preference shares, which are valued using a perpetuity income model, based upon the preference dividend cash flows. The fair value of the assets was not deemed to be impacted by changes in the unobservable inputs as the dividend cash flows were contractual.
Level 1 Level 2 Level 3 Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Financial liabilities
At 1 July 2024
\u2013
\u2013
\u2013
\u2013
Additions
\u2013
\u2013
15,338
15,338
Finance cost of deferred contingent
consideration payable
\u2013
\u2013
426
426
Net changes in fair value
\u2013
\u2013
341
341
At 30 June 2025
\u2013
\u2013
16,105
16,105
Level 3 financial liabilities relate to deferred contingent consideration payable, valued using the net present value of the expected future amounts payable. The key inputs are management- approved forecasts and expectations against the criteria of the deferred contingent consideration to set expectations of future amounts payable. The deferred contingent consideration is reviewed and revalued at regular intervals over the deferred contingent consideration period (refer to note 26). The fair value is sensitive to the change in management- approved forecasts, which relate to revenue and AUM projections for future periods, however, at each reporting date, the relevant management approved forecasts are deemed to be the most accurate and relevant input to the fair value measurement. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-341": { "value": "
21. Deferred contingent consideration receivable
Deferred contingent consideration receivable reflects the Directors\u2019 best estimate of amounts
receivable in the future in respect of the sale of certain subsidiary undertakings and businesses.
Deferred contingent consideration receivable is measured at its fair value based on discounted
expected future cash flows. The movements in the total deferred contingent consideration
receivable balance during the financial year were as follows:
2025 2024
\u00a3\u2019000 \u00a3\u2019000
At 1 July
\u2013
\u2013
Additions
14,307
\u2013
Finance income on deferred contingent consideration receivable
273
\u2013
Fair value adjustments
(392)
\u2013
At 30 June
14,188
\u2013
Analysed as:
Amounts falling due within one year
289
\u2013
Amounts falling due after more than one year
13,899
\u2013
Total deferred contingent consideration receivable
14,188
\u2013
During the financial year, the Group resigned as investment manager to the SVS Brooks
Macdonald Defensive Capital Fund (\u201cDCF\u201d) (subsequently renamed SVS RM Defensive Capital
Fund). The resignation was subject to an SPA and under the terms of the SPA, the Group are
entitled to deferred contingent consideration receivable based on funds under management
meeting certain targets over a three-year period post disposal. On disposal, the estimated fair
value of deferred contingent consideration receivable was \u00a3658,000. As at 30 June 2025, the fair
value of deferred contingent consideration receivable for the DCF disposal was \u00a3289,000.
Additionally, the Group sold BMI and its wholly-owned subsidiaries, which made up the Group\u2019s
previously reported International segment. Part of the consideration is deferred based on the
disposal group revenue levels measured over a one-year period commencing 12 months post
disposal, and payable two years post completion. On disposal, the estimated fair value of
deferred contingent consideration receivable was \u00a313,649,000. As at 30 June 2025, the fair value
of deferred contingent consideration receivable for the sale of BMI was \u00a313,899,000.
", "dimensions": { "concept": "brooksmacdonaldgroupplc:DisclosureOfDeferredContingentConsiderationReceivable", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-342": { "value": "
22. Trade and other receivables
2025 2024
\u00a3\u2019000 \u00a3\u2019000
Trade receivables
832
2,899
Other receivables
1,571
496
Prepayments and accrued income
23,478
25,666
Total trade and other receivables
25,881
29,061
Expected credit losses are immaterial in relation to trade receivables; refer to note 34 for details
on the credit risk assessment. Accrued income includes portfolio management fee income for
the final quarter, outstanding at the consolidated statement of financial position date.
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-384": { "value": "22. Trade and other receivables
2025 2024
\u00a3\u2019000 \u00a3\u2019000
Trade receivables
832
2,899
Other receivables
1,571
496
Prepayments and accrued income
23,478
25,666
Total trade and other receivables
25,881
29,061
Expected credit losses are immaterial in relation to trade receivables; refer to note 34 for details on the credit risk assessment. Accrued income includes portfolio management fee income for the final quarter, outstanding at the consolidated statement of financial position date.", "dimensions": { "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-343": { "value": "
23. Cash and cash equivalents
Cash and cash equivalents are distributed across a range of financial institutions with high credit
ratings in accordance with the Group\u2019s treasury policy. Cash at bank comprises current accounts
which can be accessed immediately.
Cash and cash equivalents also includes amounts held in money market funds and deposit
accounts with a maturity of three months or less. The purpose of these holdings is to meet
short-term cash requirements rather than for underlying investment purposes and are subject to
insignificant risk of changes in value.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-344": { "value": "
25. Provisions
Client Leasehold Other
compensation FSCS levy dilapidations provisions Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
At 1 July 2023
250
167
625
280
1,322
Charge to the
consolidated statement of
comprehensive income
640
691
83
\u2013
1,414
Utilised during the year
(295)
(167)
(268)
\u2013
(730)
At 30 June 2024
595
691
440
280
2,006
Charge to the
consolidated statement of
comprehensive income
15
817
466
236
1,534
Utilised during the year
(275)
(691)
\u2013
(280)
(1,246)
Additions
\u2013
\u2013
\u2013
375
375
Disposals
\u2013
\u2013
(6)
\u2013
(6)
At 30 June 2025
335
817
900
611
2,663
2025 2024
\u00a3\u2019000 \u00a3\u2019000
Analysed as:
Amounts falling due within one year
1,890
1,628
Amounts falling due after more than one year
773
378
Total provisions
2,663
2,006
25(a) Client compensation
Client compensation provisions relate to the potential liability arising from client complaints
against the Group. Complaints are assessed on a case-by-case basis and provisions for
compensation are made when they meet the recognition criteria. The amount recognised within
provisions for client compensation represents management\u2019s best estimate of the potential
liability. The timing of the corresponding outflows is uncertain as these are made as and when
claims arise.
25(b) FSCS levy
Following confirmation by the FSCS in July 2025 of its final industry levy for the 2025/26 scheme
year, the Group has made a provision of \u00a3817,000 (2024: \u00a3691,000) for its estimated share.
25(c) Leasehold dilapidations
Leasehold dilapidations relate to dilapidation provisions expected to arise on leasehold premises
held by the Group, and monies due under the contract with the assignee of leases on the Group\u2019s
leased properties.
25(d) Other provisions
Other provisions include tax-related items arising from voluntary disclosures made by the Group
to HMRC, following an input VAT review conducted during a prior financial year.
", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-385": { "value": "25. Provisions
Client Leasehold Other
compensation FSCS levy dilapidations provisions Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
At 1 July 2023
250
167
625
280
1,322
Charge to the
consolidated statement of
comprehensive income
640
691
83
\u2013
1,414
Utilised during the year
(295)
(167)
(268)
\u2013
(730)
At 30 June 2024
595
691
440
280
2,006
Charge to the
consolidated statement of
comprehensive income
15
817
466
236
1,534
Utilised during the year
(275)
(691)
\u2013
(280)
(1,246)
Additions
\u2013
\u2013
\u2013
375
375
Disposals
\u2013
\u2013
(6)
\u2013
(6)
At 30 June 2025
335
817
900
611
2,663
2025 2024
\u00a3\u2019000 \u00a3\u2019000
Analysed as:
Amounts falling due within one year
1,890
1,628
Amounts falling due after more than one year
773
378
Total provisions
2,663
2,006
25(a) Client compensation Client compensation provisions relate to the potential liability arising from client complaints against the Group. Complaints are assessed on a case-by-case basis and provisions for compensation are made when they meet the recognition criteria. The amount recognised within provisions for client compensation represents management\u2019s best estimate of the potential liability. The timing of the corresponding outflows is uncertain as these are made as and when claims arise. 25(b) FSCS levy Following confirmation by the FSCS in July 2025 of its final industry levy for the 2025/26 scheme year, the Group has made a provision of \u00a3817,000 (2024: \u00a3691,000) for its estimated share. 25(c) Leasehold dilapidations Leasehold dilapidations relate to dilapidation provisions expected to arise on leasehold premises held by the Group, and monies due under the contract with the assignee of leases on the Group\u2019s leased properties. 25(d) Other provisions Other provisions include tax-related items arising from voluntary disclosures made by the Group to HMRC, following an input VAT review conducted during a prior financial year.
36. Contingent liabilities and guarantees
In the normal course of business, the Group is exposed to legal and regulatory issues, which, in
the event of a dispute, could develop into litigious proceedings and, in some cases, may result in
contingent liabilities. Similarly, a contingent liability may arise in the event of a finding in respect
of the Group\u2019s tax affairs, including the accounting for VAT, which could result in a financial
outflow from the relevant tax authorities. The Board assesses any such matters on an ongoing
basis and there are no continent liabilities as at 30 June 2025.
Brooks Macdonald Asset Management Limited, a subsidiary company of the Group, has an
agreement with the Royal Bank of Scotland plc to guarantee settlement for trading with CREST
stock on behalf of clients. The Group holds client assets to fund such trading activity.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-345": { "value": "
26. Deferred contingent consideration payable
Deferred contingent consideration payable reflects the Directors\u2019 best estimate of amounts
payable in the future in respect of certain client relationships and subsidiary undertakings that
were acquired by the Group. Deferred contingent consideration payable is measured at its
fair value based on discounted expected future cash flows and is split between current and
non-current liabilities to the extent that it is due for payment within one year of the reporting
date. The movements in the total deferred contingent consideration payable balance during the
financial year were as follows:
2025 2024
\u00a3\u2019000 \u00a3\u2019000
At 1 July
\u2013
1,467
Additions
15,338
\u2013
Finance cost of deferred contingent consideration
426
13
Fair value adjustments
341
(3)
Payments made during the year
\u2013
(852)
Share issues as consideration
\u2013
(625)
At 30 June
16,105
\u2013
2025 2024
\u00a3\u2019000 \u00a3\u2019000
Analysed as:
Amounts falling due within one year
14,176
\u2013
Amounts falling due after more than one year
1,929
\u2013
Total deferred contingent consideration payable
16,105
\u2013
During the financial year, the Group completed three acquisitions of CST, Lucas Fettes and LIFT
(refer to note 14). Part of the consideration amounts payable are deferred over one and two-year
periods. The deferred amount is based on client attrition levels and business profitability over the
deferral period. The estimated fair value of the deferred contingent consideration at acquisition
was \u00a314,558,000. During the period from acquisition to 30 June 2025, the Group recognised a
finance cost of \u00a3398,000 and a fair value adjustment of \u00a3342,000 on the amount payable.
Also, during the year, the Company acquired a portfolio of financial advice clients. Part of the
consideration amount, \u00a3779,000, is deferred over a year. The Company recognised a finance cost
of \u00a327,000 and \u00a381,000 fair value increase in the deferred contingent amount.
Deferred contingent consideration is classified as Level 3 within the fair value hierarchy, as
defined in note 20.
", "dimensions": { "concept": "brooksmacdonaldgroupplc:DisclosureOfDeferredContingentConsiderationPayable", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-397": { "value": "27. Net deferred tax liabilities An analysis of the Group\u2019s deferred assets and deferred tax liabilities is shown below: The gross movement on the deferred income tax account during the financial year was as follows:
2025 2024
Note \u00a3\u2019000 \u00a3\u2019000
At 1 July
(5,394)
(6,033)
Liability on acquisition of client relationship
intangible assets
14
(5,744)
\u2013
Credit to the consolidated statement of
comprehensive income
1,357
1,574
Charge recognised in equity
(346)
(935)
Disposal of subsidiary
964
\u2013
At 30 June
(9,163)
(5,394)
The change in deferred income tax assets and liabilities during the financial year was as follows:
Trading
Share- losses Accelerated
based carried capital
payments forward Dilapidations allowances Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Deferred tax assets
At 1 July 2023
2,333
363
119
164
2,979
Credit to the
consolidated statement of
comprehensive income
503
(216)
(7)
(71)
209
Charge to equity
(935)
\u2013
\u2013
\u2013
(935)
At 30 June 2024
1,901
147
112
93
2,253
Disposal of subsidiary
(147)
(4)
3
(148)
Credit to the
consolidated statement of
comprehensive income
2
\u2013
117
106
225
Charge to equity
(346)
\u2013
\u2013
\u2013
(346)
At 30 June 2025
1,557
\u2013
225
202
1,984
2025 2024
\u00a3\u2019000 \u00a3\u2019000
Deferred tax assets
Deferred tax assets to be settled within one year
947
1,192
Deferred tax assets to be settled after more than one year
1,037
1,061
Total deferred tax assets
1,984
2,253
The carrying amount of the deferred tax asset is reviewed at each reporting date and is only recognised to the extent that it is probable that future taxable profits of the Group will allow the asset to be recovered. There is an amount of unrecognised deferred tax in relation to capital losses carried forward at 30 June 2025 of \u00a3859,000. A deferred tax asset is not recognised in these consolidated financial statements, nor the Parent Company financial statements, on the basis that it is not probable that capital gains will be available against which capital losses can be offset. The change in deferred income tax liabilities during the financial year is as follows:
Accelerated
capital allowances Intangible
on research and asset
development amortisation Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
Deferred tax liabilities
At 1 July 2023
856
8,156
9,012
Credit to the consolidated statement of
comprehensive income
62
(1,427)
(1,365)
At 30 June 2024
918
6,729
7,647
Disposal of subsidiary
(5)
(1,106)
(1,111)
Acquisition of subsidiaries
\u2013
5,744
5,744
Charge/(credit) to the consolidated statement
of comprehensive income
75
(1,208)
(1,133)
At 30 June 2025
988
10,159
11,147
2025 2024
\u00a3\u2019000 \u00a3\u2019000
Deferred tax liabilities
Deferred tax liabilities to be settled within one year
1,185
1,006
Deferred tax liabilities to be settled after more than one year
9,962
6,641
Total deferred tax liabilities
11,147
7,647
", "dimensions": { "concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-346": { "value": "
28. Other non-current liabilities
2025 2024
\u00a3\u2019000 \u00a3\u2019000
At 1 July
587
783
National insurance liability in respect of share option awards
392
128
Liability in respect of retention payments to ex-BMI employees
456
\u2013
Transfer to current liabilities
(391)
(324)
At 30 June
1,044
587
Other non-current liabilities include employer\u2019s National Insurance contributions arising from
share option awards under the Long-Term Incentive Scheme (\u201cLTIS\u201d) and Long-Term Incentive Plan
(\u201cLTIP\u201d) schemes. During the financial year, a liability was recognised of \u00a3392,000 (2024: \u00a3128,000)
in respect of awards granted during the financial year, which are expected to vest in the future.
During the financial year, an amount of \u00a3391,000 (2024: \u00a3324,000) was transferred to current
liabilities, reflecting awards that are expected to vest within the next 12 months. At 30 June 2025,
the non-current liability for employer\u2019s National Insurance contributions arising from share option
awards under the LTIS and LTIP schemes was \u00a3588,000 (2024: \u00a3587,000).
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-386": { "value": "28. Other non-current liabilities
2025 2024
\u00a3\u2019000 \u00a3\u2019000
At 1 July
587
783
National insurance liability in respect of share option awards
392
128
Liability in respect of retention payments to ex-BMI employees
456
\u2013
Transfer to current liabilities
(391)
(324)
At 30 June
1,044
587
Other non-current liabilities include employer\u2019s National Insurance contributions arising from share option awards under the Long-Term Incentive Scheme (\u201cLTIS\u201d) and Long-Term Incentive Plan (\u201cLTIP\u201d) schemes. During the financial year, a liability was recognised of \u00a3392,000 (2024: \u00a3128,000) in respect of awards granted during the financial year, which are expected to vest in the future. During the financial year, an amount of \u00a3391,000 (2024: \u00a3324,000) was transferred to current liabilities, reflecting awards that are expected to vest within the next 12 months. At 30 June 2025, the non-current liability for employer\u2019s National Insurance contributions arising from share option awards under the LTIS and LTIP schemes was \u00a3588,000 (2024: \u00a3587,000).", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-387": { "value": "
29. Trade and other payables
2025 2024
\u00a3\u2019000 \u00a3\u2019000
Trade payables
7,959
3,728
Other taxes and social security
1,763
2,767
Other payables
2,295
\u2013
Accruals and deferred income
19,277
21,394
Total trade and other payables
31,294
27,889
Included within accruals and deferred income is an accrual of \u00a3391,000 (2024: \u00a3324,000) in
respect of employer\u2019s National Insurance contributions arising from share option awards under
the LTIS. Other payables includes the current portion of the liability in respect of retention
payments to ex-BMI employees.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-347": { "value": "29. Trade and other payables
2025 2024
\u00a3\u2019000 \u00a3\u2019000
Trade payables
7,959
3,728
Other taxes and social security
1,763
2,767
Other payables
2,295
\u2013
Accruals and deferred income
19,277
21,394
Total trade and other payables
31,294
27,889
Included within accruals and deferred income is an accrual of \u00a3391,000 (2024: \u00a3324,000) in respect of employer\u2019s National Insurance contributions arising from share option awards under the LTIS. Other payables includes the current portion of the liability in respect of retention payments to ex-BMI employees.", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-348": { "value": "
30. Share capital and share premium account
The movements in share capital and share premium during the financial year were as follows:
Share
Exercise Share premium
Number of price capital account Total
shares \u00a3 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
At 1 July 2023
16,399,663
164
81,830
81,994
Shares issued:
\u2022
on exercise of options
8,554
13.81 \u2013 17.25
\u2013
135
135
\u2022
to SAYE Scheme
35,488
11.72 \u2013 19.88
1
545
546
\u2022
of consideration for
business combinations
28,748
19.00 \u2013 21.74
\u2013
625
625
At 30 June 2024
16,472,453
165
83,135
83,300
Shares issued:
\u2022
on exercise of options
699
17.70
\u2013
16
16
\u2022
to SAYE Scheme
4,714
14.34 \u2013 19.88
\u2013
130
130
\u2022
of consideration for
business combinations
42,673
16.41 \u2013 16.61
\u2013
706
706
Shares cancelled on buybacks
(464,000)
\u2013
(5)
\u2013
(5)
At 30 June 2025
16,056,539
\u2013
160
83,987
84,147
The total number of ordinary shares issued and fully paid at 30 June 2025 was 16,056,539
(2024: 16,472,453) with a par value of 1p per share.
There was \u00a3852,000 of share capital issued on exercise of options as well as to Employee Save
As You Earn (\u201cSAYE\u201d) Scheme members and as consideration for acquisitions in the year ended
30 June 2025 (2024: \u00a31,306,000).
On 28 January 2025, the Group announced the commencement of a share buyback programme
in respect of its shares having an aggregate value of up to \u00a310 million. The shares are being
purchased in the open market and upon cancellation, the par value is transferred from the share
capital to the capital redemption reserve (within other reserves, refer to note 31).
During the period from announcement to 30 June 2025, the Group has repurchased 464,000
shares for a total consideration of \u00a36,970,000. The par value of share capital of \u00a34,640 for these
repurchases has transferred to the capital redemption reserve and the remaining amounts have
reduced retained earnings by \u00a36,966,000. At the date of signing this report, a further 74,000
shares were purchased and cancelled, for additional total consideration of \u00a31,178,000. The Board
will continue to deploy the remainder of the \u00a310 million buyback in due course.
Employee Benefit Trust The Group established an Employee Benefit Trust (\u201cEBT\u201d) on 3 December 2010 to acquire ordinary shares in the Company to satisfy awards under the Group\u2019s LTIS; see note 32. At 30 June 2025, the EBT held 437,374 (2024: 421,938) 1p ordinary shares in the Company, acquired for a total consideration of \u00a321,650,000 (2024: \u00a319,100,000) with a market value of \u00a37,457,000 at 30 June 2025 (2024: \u00a38,228,000). These shares are classified as treasury shares in the consolidated statement of financial position, their cost being deducted from retained earnings within shareholders\u2019 equity ", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-388": { "value": "30. Share capital and share premium account The movements in share capital and share premium during the financial year were as follows:
Share
Exercise Share premium
Number of price capital account Total
shares \u00a3 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
At 1 July 2023
16,399,663
164
81,830
81,994
Shares issued:
\u2022
on exercise of options
8,554
13.81 \u2013 17.25
\u2013
135
135
\u2022
to SAYE Scheme
35,488
11.72 \u2013 19.88
1
545
546
\u2022
of consideration for
business combinations
28,748
19.00 \u2013 21.74
\u2013
625
625
At 30 June 2024
16,472,453
165
83,135
83,300
Shares issued:
\u2022
on exercise of options
699
17.70
\u2013
16
16
\u2022
to SAYE Scheme
4,714
14.34 \u2013 19.88
\u2013
130
130
\u2022
of consideration for
business combinations
42,673
16.41 \u2013 16.61
\u2013
706
706
Shares cancelled on buybacks
(464,000)
\u2013
(5)
\u2013
(5)
At 30 June 2025
16,056,539
\u2013
160
83,987
84,147
The total number of ordinary shares issued and fully paid at 30 June 2025 was 16,056,539 (2024: 16,472,453) with a par value of 1p per share. There was \u00a3852,000 of share capital issued on exercise of options as well as to Employee Save As You Earn (\u201cSAYE\u201d) Scheme members and as consideration for acquisitions in the year ended 30 June 2025 (2024: \u00a31,306,000). On 28 January 2025, the Group announced the commencement of a share buyback programme in respect of its shares having an aggregate value of up to \u00a310 million. The shares are being purchased in the open market and upon cancellation, the par value is transferred from the share capital to the capital redemption reserve (within other reserves, refer to note 31). During the period from announcement to 30 June 2025, the Group has repurchased 464,000 shares for a total consideration of \u00a36,970,000. The par value of share capital of \u00a34,640 for these repurchases has transferred to the capital redemption reserve and the remaining amounts have reduced retained earnings by \u00a36,966,000. At the date of signing this report, a further 74,000 shares were purchased and cancelled, for additional total consideration of \u00a31,178,000. The Board will continue to deploy the remainder of the \u00a310 million buyback in due course. Employee Benefit Trust The Group established an Employee Benefit Trust (\u201cEBT\u201d) on 3 December 2010 to acquire ordinary shares in the Company to satisfy awards under the Group\u2019s LTIS; see note 32. At 30 June 2025, the EBT held 437,374 (2024: 421,938) 1p ordinary shares in the Company, acquired for a total consideration of \u00a321,650,000 (2024: \u00a319,100,000) with a market value of \u00a37,457,000 at 30 June 2025 (2024: \u00a38,228,000). These shares are classified as treasury shares in the consolidated statement of financial position, their cost being deducted from retained earnings within shareholders\u2019 equity . 31. Retained earnings and other reserves The movements in retained earnings during the financial year were as follows:
2025 2024
\u00a3\u2019000 \u00a3\u2019000
At 1 July
68,843
75,158
Total comprehensive income
20,984
6,457
Share-based payments 2,856 2,407
Tax on share options (346) (935)
Purchase of own shares by Employee Benefit Trust
(2,566)
(2,150)
Share buyback
(6,971)
\u2013
Dividends paid
(12,695)
(12,094)
At 30 June
70,105
68,843
Other reserves comprise the following balances:
2025 2024
\u00a3\u2019000 \u00a3\u2019000
Merger reserve
192
192
Capital redemption reserve
5
\u2013
Total other reserves
197
192
31(a) Merger reserve The merger reserve arises when the consideration and nominal value of the shares issued during a merger and the fair value of assets transferred during the business combination differ. 31(b) Capital redemption reserve The capital redemption reserve arises on the cancellation of shares following share buybacks when the nominal value of the shares cancelled is transferred from share capital.", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-398": { "value": "
Employee Benefit Trust
The Group established an Employee Benefit Trust (\u201cEBT\u201d) on 3 December 2010 to acquire
ordinary shares in the Company to satisfy awards under the Group\u2019s LTIS; see note 32. At
30 June 2025, the EBT held 437,374 (2024: 421,938) 1p ordinary shares in the Company, acquired
for a total consideration of \u00a321,650,000 (2024: \u00a319,100,000) with a market value of \u00a37,457,000
at 30 June 2025 (2024: \u00a38,228,000). These shares are classified as treasury shares in the
consolidated statement of financial position, their cost being deducted from retained earnings
within shareholders\u2019 equity .
", "dimensions": { "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-349": { "value": "
31. Retained earnings and other reserves
The movements in retained earnings during the financial year were as follows:
2025 2024
\u00a3\u2019000 \u00a3\u2019000
At 1 July
68,843
75,158
Total comprehensive income
20,984
6,457
Share-based payments 2,856 2,407
Tax on share options (346) (935)
Purchase of own shares by Employee Benefit Trust
(2,566)
(2,150)
Share buyback
(6,971)
\u2013
Dividends paid
(12,695)
(12,094)
At 30 June
70,105
68,843
Other reserves comprise the following balances:
2025 2024
\u00a3\u2019000 \u00a3\u2019000
Merger reserve
192
192
Capital redemption reserve
5
\u2013
Total other reserves
197
192
31(a) Merger reserve
The merger reserve arises when the consideration and nominal value of the shares issued during
a merger and the fair value of assets transferred during the business combination differ.
31(b) Capital redemption reserve
The capital redemption reserve arises on the cancellation of shares following share buybacks
when the nominal value of the shares cancelled is transferred from share capital.
", "dimensions": { "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-350": { "value": "
32. Share-based incentive and benefits plans
During the year ended 30 June 2025, the Group operated a number of share-based incentive and
benefit schemes, which are described below.
Company Share Option Plan (\u201cCSOP\u201d)
This plan was approved by HMRC in November 2013. The CSOP is a discretionary scheme
whereby employees or Directors are granted an option to purchase the Company\u2019s shares in the
future at a price set on the date of the grant. Since 2023, the maximum award under the terms of
the scheme is a total market value of \u00a360,000 per recipient. The options expire 10 years from the
grant date.
The Company ceased making CSOP grants following the awards made in 2016. As at
30 June 2025, all options for the CSOP schemes have vested and are able to be exercised.
No awards expired during the financial year under the CSOP schemes (2024: none).
Employee Save As You Earn (\u201cSAYE\u201d) Scheme
SAYE is a voluntary participation benefit offered to all permanent employees. Under the SAYE,
employees commit to a three-year savings contract of between \u00a35 and \u00a3500 a month. At the end
of the savings contract, employees have the option to use their savings to exercise their option to
buy Company shares at a discounted price determined at the beginning of the savings contract
or elect to have their cash savings returned. More recent annual schemes also include a savings
bonus for completing the savings contract. This can be used to buy shares or be returned in cash,
as it is the equivalent of an interest consideration.
Long-Term Incentive Plan (\u201cLTIP\u201d)
This is an equity-settled scheme approved by shareholders at the 2018 Annual General Meeting
and encompasses three components:
\u2022 Deferred Bonus Plan (\u201cDBP\u201d): Under this plan, a proportion of discretionary annual bonus
awards for Material Risk Takers and high earning employees is awarded as 10-year BRK nil
price share options. These awards vest in three equal tranches at 12, 24 and 36 months from
date of grant. The employee is then able to exercise the award in the option period at which
point the shares would be transferred to the employee. Leaver provisions apply, where in
cases of resignation, any vested and unvested options are forfeited to the employee on
leaving, and employees leaving with good leaver status remain eligible for the awards.
\u2022 LTIP awards: These are 10-year BRK nil price share options awarded to Executive Directors
and ExCo Members. Vesting of these awards may be contingent on specified performance
measures determined at grant being met. These awards are subject to three-year cliff
vesting and a further two-year holding period (on any options that are exercised immediately
after vesting). Awards are forfeited in instances of resignation and for good leavers, the
award value will be pro-rated in alignment with the proportion of the vesting period the
employee served.
\u2022 Exceptional Share Option Awards (\u201cESOA\u201d): These are discretionary share option awards
made to employees making exceptional contributions to the Company. The vesting
profile and any performance conditions associated with these awards are determined
by the Company\u2019s Remuneration Committee. ESOA awards are also used to fulfil buy-
out commitments and share option awards made in relation to acquisitions made by
the Company.
With the exception of a limited number of Good Leaver scenarios, employee eligibility for all
LTIP awards is subject to continued employment. All LTIP awards are made at the discretion of
the Remuneration Committee. A total of 323,670 (2024: 609,163) BRK share options were granted
under the LTIP during the 2025 financial year. The vesting periods for these awards are between
12 and 36 months. In the 2025 financial year, 4,330 share options expired (2024: none).
Long-Term Incentive Scheme (\u201cLTIS\u201d)
Share-based incentives were made under the LTIS scheme before its replacement by the LTIP
scheme in 2018. No LTIS grants were made after 2017 and no holdings or commitments remain
under this scheme, all awards having been vested and exercised.
Valuation of awards
Full details of the awards granted during the year along with their valuation and the inputs used in
the valuation are described in the tables below. The valuation was determined using the Black-
Scholes-Merton model.
2025
2024
Long-Term Save As You Earn Long-Term Save As You Earn
Incentive Plan (\u201cSAYE \u201d) Incentive Plan (\u201cSAYE \u201d)
Fair value
\u00a312.17-\u00a315.31
\u00a34.27
\u00a314.33-\u00a316.49
\u00a37.35
Share price at grant
\u00a314.20-\u00a318.25
\u00a315.00
\u00a316.50-\u00a318.05
\u00a320.60
Exercise price
\u2013
\u00a311.56
\u2013
\u00a314.62
Grant date
Various
01/06/2025
Various
01/06/2024
Vesting period
27\u201351 months
36 months
27\u201351 months
36 months
Volatility
34.84%-37.71%
37.22%
35.34%-38.06%
38.01%
Annual dividend
4.11%-5.70%
5.40%
4.26%-4.73%
3.79%
Risk-free rate
3.99%-4.50%
3.87%
3.95%-4.92%
4.07%
Option value
\u00a314.20-\u00a318.25
\u00a315.00
\u00a316.50-\u00a318.05
\u00a320.60
Outstanding awards
Movements in the outstanding awards including the weighted average exercise price under each
of the plans is set out in the tables below.
2025
2024
Weighted Weighted
average average
Number of exercise Number of exercise
options price (\u00a3) options price (\u00a3)
Company Share Option Plan
Outstanding at start of year
8,401
16.92
16,955
16.37
Exercised
\u2013
\u2013
(8,554)
15.83
Outstanding at end of year
8,401
17.23
8,401
16.92
Exercisable at end of year
8,401
17.23
8,401
16.92
The CSOP options outstanding at 30 June 2025 had exercise prices of \u00a313.81p (725 options),
\u00a317.19p (5,236 options) and \u00a317.25p (2,440 options), and a weighted average remaining contractual
life of 0.6 years.
2025
2024
Weighted Weighted
average average
Number of exercise Number of exercise
options price (\u00a3) options price (\u00a3)
Employee SAYE Scheme
Outstanding at start of year
198,462
14.87
225,003
15.23
Granted
175,672
11.56
63,603
14.62
Forfeited
(111,676)
14.81
(58,186)
15.51
Exercised
(8,583)
15.14
(31,958)
15.77
Outstanding at end of year
253,875
12.63
198,462
14.87
Exercisable at end of year
7,650
19.88
7,882
17.04
The SAYE Plan options outstanding at 30 June 2025 had exercise prices of \u00a319.88p (7,650 options),
\u00a314.34p (45,099 options), \u00a314.62p (26,608 options) and \u00a311.56p (174,518 options), and a weighted
average remaining contractual life of 2.79 years.
All share options under the LTIP schemes set out below have exercise prices of \u00a3nil.
2025 2024
Number of Number of
shares shares
Long-Term Incentive Plan
Outstanding at start of year
609,163
687,360
Granted
385,085
232,851
Forfeited
(88,809)
(58,541)
Exercised
(110,742)
(252,507)
Outstanding at end of year
794,697
609,163
Exercisable at end of year
2,896
\u2013
Long-Term Incentive Scheme
Outstanding at start of year
1,144
5,442
Exercised
\u2013
(4,298)
Outstanding at end of year
1,144
1,144
Exercisable at end of year
1,144
1,144
Employee Benefit Trust (\u201cEBT\u201d)
The Company established an EBT on 3 December 2010 to acquire ordinary shares in the
Company to satisfy various company award plans. All finance costs and administration expenses
connected with the EBT are charged to the consolidated statement of comprehensive income
as they accrue. The EBT has waived its rights to dividends. The number of shares held by the EBT
have not yet vested unconditionally.
2025 2024
Number of Number of
shares shares
Employee Benefit Trust
1 July
421,938
552,633
Acquired in the year
141,070
123,918
Exercised
(125,634)
(254,613)
At 30 June
437,374
421,938
", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-351": { "value": "
33. Reconciliation of operating profit to net cash inflow from
operating activities
2024
2025
restated
1
\u00a3\u2019000 \u00a3\u2019000
Operating profit before tax
12,006
22,256
Adjustments for:
Amortisation of intangible assets
7,850
4,758
Depreciation of property, plant and equipment
520
567
Depreciation of right-of-use assets
2,044
1,585
Impairment of right-of-use assets
411
\u2013
Other losses/(gains)
247
(83)
Decrease in receivables
537
4,391
Increase in payables
3,125
5,851
Increase in provisions
151
684
Increase/(decrease) in other non-current liabilities
457
(196)
Share-based payments charge
1,379
1,366
Net cash inflow from operating activities
28,727
41,179
1
The prior financial year operating profit has been restated to separate the results of discontinued operations,
consistent with the presentation in the current financial year. Refer to note 13 for details of the results of
discontinued operations.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-389": { "value": "34. Financial risk management The Group has identified the financial risks arising from its activities and has established policies and procedures as part of a formal structure for managing risk, including establishing risk lines, reporting lines, mandates and other control procedures. The structure is reviewed regularly. The Group does not use derivative financial instruments for risk management purposes. 34(a) Liquidity risk Liquidity risk is the risk that the Group is unable to meet its payment obligations associated with its financial liabilities when they fall due. The primary objective of the Group\u2019s treasury policy is to manage short-term liquidity requirements and to ensure that the Group maintains a surplus of immediately realisable assets over its liabilities, such that all known and potential cash obligations can be met. The table below shows the Group\u2019s undiscounted cash inflows and outflows from non-derivative financial assets and liabilities, together with cash and bank balances available on demand.
After
Not more 3 months After 1 year
On than but not more but not more No fixed
demand 3 months than 1 year than 6 years payment date Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
At 30 June 2025
Cash flows from financial assets
Financial assets at amortised cost
\u2013
205
419
19,301
\u2013
19,925
Financial assets at fair value through profit or loss
\u2013
\u2013
\u2013
\u2013
1,095
1,095
Deferred contingent consideration receivable
\u2013
\u2013
\u2013
14,188
\u2013
14,188
Cash and balances at bank
33,915
\u2013
\u2013
\u2013
\u2013
33,915
Trade receivables
\u2013
832
\u2013
\u2013
\u2013
832
Other receivables
\u2013
1,571
\u2013
\u2013
\u2013
1,571
Cash flows from financial liabilities
33,915
2,608
419
33,489
1,095
71,526
Trade payables
\u2013
(7,959)
\u2013
\u2013
\u2013
(7,959)
Deferred contingent consideration payable
\u2013
\u2013
(14,176)
(1,929)
\u2013
(16,105)
Accruals and deferred income
\u2013
(19,277)
\u2013
\u2013
\u2013
(19,277)
Other financial liabilities
\u2013
(6,070)
(544)
(1,817)
\u2013
(8,431)
\u2013
(33,306)
(14,720)
(3,746)
\u2013
(51,772)
Net liquidity surplus/(gap)
33,915
(30,698)
(14,301)
29,743
1,095
19,754
At 30 June 2024
Cash flows from financial assets
Financial assets at amortised cost*
\u2013
379
593
28,991
\u2013
29,963
Financial assets at fair value through other comprehensive income
\u2013
\u2013
\u2013
500
\u2013
500
Financial assets at fair value through profit or loss
\u2013
\u2013
\u2013
\u2013
905
905
Cash and balances at bank
44,731
\u2013
\u2013
\u2013
\u2013
44,731
Trade receivables
\u2013
2,899
\u2013
\u2013
\u2013
2,899
Other receivables
\u2013
496
\u2013
\u2013
\u2013
496
Cash flows from financial liabilities
44,731
3,774
593
29,491
905
79,494
Trade payables
\u2013
(3,728)
\u2013
\u2013
\u2013
(3,728)
Other financial liabilities
\u2013
(25,618)
(2,206)
(2,032)
\u2013
(29,856)
\u2013
(29,346)
(2,206)
(2,032)
\u2013
(33,584)
Net liquidity surplus/(gap)
44,731
(25,572)
(1,613)
27,459
905
45,910
* Prior year figures have been restated to separately disclose \u00a3972,000 of interest receivable relating to Gilts. 34(b) Market risk Interest rate risk The Group has limited exposure to interest rate risk due to fluctuations in the prevailing level of market interest rates. Surplus cash is invested in short-term deposits with maturity dates not exceeding three months and money market funds. Investments in Gilts are at a fixed interest rate. A 1% fall in the average monthly interest rate receivable on the Group\u2019s cash and cash equivalents would have the impact of reducing interest receivable and therefore profit before taxation by \u00a3339,000 (2024: \u00a3447,000). An increase of 1% would have an equal and opposite effect. Foreign exchange risk The Group does not have any material exposure to transactional foreign currency risk, and therefore no analysis of foreign exchange risk is provided. Price risk Price risk is the risk that the fair value of the future cash flows from financial instruments will fluctuate due to changes in market prices (other than those arising from interest rate risk or currency risk). The Group is exposed to price risk through its holdings of equity securities and other financial assets, which are measured at fair value in the consolidated statement of financial position (note 20). A 1% fall in the value of these financial instruments would have the impact of reducing total comprehensive income by \u00a311,000 (2024: \u00a314,000). An increase of 1% would have an equal and opposite effect. 34(c) Credit risk The Group may elect to invest surplus cash balances in highly liquid money market instruments with maturity dates not exceeding three months. The difference between the fair value and the net book value of these instruments is not material. To reduce the risk of a counterparty default, the Group deposits the rest of its funds in approved, high-quality banks. As part of the Group\u2019s strict due diligence assessment, there is a requirement for all banking counterparties to have a minimum credit rating of BBB+. In line with the Group\u2019s corporate treasury policy, during the year ended 30 June 2025, the Group invested a proportion of surplus cash resources into UK Gilts. The credit risk severity is considered minimal due to the inherent government backing. A minimum credit rating requirement for Gilts as part of the Group\u2019s strategy has therefore been set at \u2018AA\u2019, which aligns to the current credit rating of UK Gilts. Assets exposed to credit risk recognised on the consolidated statement of financial position total \u00a333,915,000 (2024: \u00a344,732,000), being the Group\u2019s total cash and cash equivalents. Trade receivables with a carrying amount of \u00a3832,000 (2024: \u00a32,899,000) are neither past due nor impaired. Trade receivables have no external credit rating as they relate to individual clients, although the value of investments held in each individual client\u2019s portfolio is always in excess of the total value of the receivable. All trade receivables fall due within one year (2024: one year). 35. Capital management Capital is defined as the total of share capital, share premium, retained earnings and other reserves of the Company. Total capital at 30 June 2025 was \u00a3154,449,000 (2024: \u00a3152,335,000). Regulatory capital is derived from the Group\u2019s Internal Capital Adequacy and Risk Assessment (\u201cICARA\u201d), which is a requirement of the Investment Firm Prudential Regime (\u201cIFPR\u201d). The ICARA draws on the Group\u2019s risk management process that is embedded within the individual businesses, function heads and executive committees within the Group. The Group\u2019s objectives when managing capital are to comply with the capital requirements set by the FCA to safeguard the Group\u2019s ability to continue as a going concern so that it can continue to provide returns for shareholders and benefits for other stakeholders, and to maintain a strong capital base to support the development of the business. The Group frequently assesses the adequacy of its own funds on a consolidated and legal entity basis. This includes continuous monitoring of \u2018K-factor\u2019 variables, which captures the variable nature of risk involved in the Group\u2019s business activities. A regulatory capital update is additionally provided to senior management on a monthly basis alongside a rolling 12-month regulatory capital forecast. In addition to this, the Group has implemented a number of \u2018Key Risk Indicators\u2019, which act as early warning signs with the aim of notifying senior management if own funds misalign with the Group\u2019s risk appetite and internal thresholds. Capital adequacy is continuously monitored daily by the Group\u2019s management. The Group\u2019s 2025 ICARA will be presented for approval in December 2025. There have been no capital requirement breaches during the financial year. Brooks Macdonald Group plc\u2019s IFPR public disclosure is presented on our website at www.brooksmacdonald.com.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-399": { "value": "34(a) Liquidity risk Liquidity risk is the risk that the Group is unable to meet its payment obligations associated with its financial liabilities when they fall due. The primary objective of the Group\u2019s treasury policy is to manage short-term liquidity requirements and to ensure that the Group maintains a surplus of immediately realisable assets over its liabilities, such that all known and potential cash obligations can be met. The table below shows the Group\u2019s undiscounted cash inflows and outflows from non-derivative financial assets and liabilities, together with cash and bank balances available on demand.
After
Not more 3 months After 1 year
On than but not more but not more No fixed
demand 3 months than 1 year than 6 years payment date Total
\u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000 \u00a3\u2019000
At 30 June 2025
Cash flows from financial assets
Financial assets at amortised cost
\u2013
205
419
19,301
\u2013
19,925
Financial assets at fair value through profit or loss
\u2013
\u2013
\u2013
\u2013
1,095
1,095
Deferred contingent consideration receivable
\u2013
\u2013
\u2013
14,188
\u2013
14,188
Cash and balances at bank
33,915
\u2013
\u2013
\u2013
\u2013
33,915
Trade receivables
\u2013
832
\u2013
\u2013
\u2013
832
Other receivables
\u2013
1,571
\u2013
\u2013
\u2013
1,571
Cash flows from financial liabilities
33,915
2,608
419
33,489
1,095
71,526
Trade payables
\u2013
(7,959)
\u2013
\u2013
\u2013
(7,959)
Deferred contingent consideration payable
\u2013
\u2013
(14,176)
(1,929)
\u2013
(16,105)
Accruals and deferred income
\u2013
(19,277)
\u2013
\u2013
\u2013
(19,277)
Other financial liabilities
\u2013
(6,070)
(544)
(1,817)
\u2013
(8,431)
\u2013
(33,306)
(14,720)
(3,746)
\u2013
(51,772)
Net liquidity surplus/(gap)
33,915
(30,698)
(14,301)
29,743
1,095
19,754
At 30 June 2024
Cash flows from financial assets
Financial assets at amortised cost*
\u2013
379
593
28,991
\u2013
29,963
Financial assets at fair value through other comprehensive income
\u2013
\u2013
\u2013
500
\u2013
500
Financial assets at fair value through profit or loss
\u2013
\u2013
\u2013
\u2013
905
905
Cash and balances at bank
44,731
\u2013
\u2013
\u2013
\u2013
44,731
Trade receivables
\u2013
2,899
\u2013
\u2013
\u2013
2,899
Other receivables
\u2013
496
\u2013
\u2013
\u2013
496
Cash flows from financial liabilities
44,731
3,774
593
29,491
905
79,494
Trade payables
\u2013
(3,728)
\u2013
\u2013
\u2013
(3,728)
Other financial liabilities
\u2013
(25,618)
(2,206)
(2,032)
\u2013
(29,856)
\u2013
(29,346)
(2,206)
(2,032)
\u2013
(33,584)
Net liquidity surplus/(gap)
44,731
(25,572)
(1,613)
27,459
905
45,910
* Prior year figures have been restated to separately disclose \u00a3972,000 of interest receivable relating to Gilts. ", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-400": { "value": "34(b) Market risk Interest rate risk The Group has limited exposure to interest rate risk due to fluctuations in the prevailing level of market interest rates. Surplus cash is invested in short-term deposits with maturity dates not exceeding three months and money market funds. Investments in Gilts are at a fixed interest rate. A 1% fall in the average monthly interest rate receivable on the Group\u2019s cash and cash equivalents would have the impact of reducing interest receivable and therefore profit before taxation by \u00a3339,000 (2024: \u00a3447,000). An increase of 1% would have an equal and opposite effect. Foreign exchange risk The Group does not have any material exposure to transactional foreign currency risk, and therefore no analysis of foreign exchange risk is provided. Price risk Price risk is the risk that the fair value of the future cash flows from financial instruments will fluctuate due to changes in market prices (other than those arising from interest rate risk or currency risk). The Group is exposed to price risk through its holdings of equity securities and other financial assets, which are measured at fair value in the consolidated statement of financial position (note 20). A 1% fall in the value of these financial instruments would have the impact of reducing total comprehensive income by \u00a311,000 (2024: \u00a314,000). An increase of 1% would have an equal and opposite effect. ", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-401": { "value": "34(c) Credit risk The Group may elect to invest surplus cash balances in highly liquid money market instruments with maturity dates not exceeding three months. The difference between the fair value and the net book value of these instruments is not material. To reduce the risk of a counterparty default, the Group deposits the rest of its funds in approved, high-quality banks. As part of the Group\u2019s strict due diligence assessment, there is a requirement for all banking counterparties to have a minimum credit rating of BBB+. In line with the Group\u2019s corporate treasury policy, during the year ended 30 June 2025, the Group invested a proportion of surplus cash resources into UK Gilts. The credit risk severity is considered minimal due to the inherent government backing. A minimum credit rating requirement for Gilts as part of the Group\u2019s strategy has therefore been set at \u2018AA\u2019, which aligns to the current credit rating of UK Gilts. Assets exposed to credit risk recognised on the consolidated statement of financial position total \u00a333,915,000 (2024: \u00a344,732,000), being the Group\u2019s total cash and cash equivalents. Trade receivables with a carrying amount of \u00a3832,000 (2024: \u00a32,899,000) are neither past due nor impaired. Trade receivables have no external credit rating as they relate to individual clients, although the value of investments held in each individual client\u2019s portfolio is always in excess of the total value of the receivable. All trade receivables fall due within one year (2024: one year). ", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-352": { "value": "
35. Capital management
Capital is defined as the total of share capital, share premium, retained earnings and other
reserves of the Company. Total capital at 30 June 2025 was \u00a3154,449,000 (2024: \u00a3152,335,000).
Regulatory capital is derived from the Group\u2019s Internal Capital Adequacy and Risk Assessment
(\u201cICARA\u201d), which is a requirement of the Investment Firm Prudential Regime (\u201cIFPR\u201d). The
ICARA draws on the Group\u2019s risk management process that is embedded within the individual
businesses, function heads and executive committees within the Group.
The Group\u2019s objectives when managing capital are to comply with the capital requirements set
by the FCA to safeguard the Group\u2019s ability to continue as a going concern so that it can continue
to provide returns for shareholders and benefits for other stakeholders, and to maintain a strong
capital base to support the development of the business.
The Group frequently assesses the adequacy of its own funds on a consolidated and legal
entity basis. This includes continuous monitoring of \u2018K-factor\u2019 variables, which captures the
variable nature of risk involved in the Group\u2019s business activities. A regulatory capital update
is additionally provided to senior management on a monthly basis alongside a rolling 12-month
regulatory capital forecast. In addition to this, the Group has implemented a number of \u2018Key Risk
Indicators\u2019, which act as early warning signs with the aim of notifying senior management if own
funds misalign with the Group\u2019s risk appetite and internal thresholds.
Capital adequacy is continuously monitored daily by the Group\u2019s management. The Group\u2019s
2025 ICARA will be presented for approval in December 2025. There have been no capital
requirement breaches during the financial year. Brooks Macdonald Group plc\u2019s IFPR public
disclosure is presented on our website at www.brooksmacdonald.com.
", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-353": { "value": "36. Contingent liabilities and guarantees In the normal course of business, the Group is exposed to legal and regulatory issues, which, in the event of a dispute, could develop into litigious proceedings and, in some cases, may result in contingent liabilities. Similarly, a contingent liability may arise in the event of a finding in respect of the Group\u2019s tax affairs, including the accounting for VAT, which could result in a financial outflow from the relevant tax authorities. The Board assesses any such matters on an ongoing basis and there are no continent liabilities as at 30 June 2025. Brooks Macdonald Asset Management Limited, a subsidiary company of the Group, has an agreement with the Royal Bank of Scotland plc to guarantee settlement for trading with CREST stock on behalf of clients. The Group holds client assets to fund such trading activity.", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-402": { "value": "36. Contingent liabilities and guarantees In the normal course of business, the Group is exposed to legal and regulatory issues, which, in the event of a dispute, could develop into litigious proceedings and, in some cases, may result in contingent liabilities. Similarly, a contingent liability may arise in the event of a finding in respect of the Group\u2019s tax affairs, including the accounting for VAT, which could result in a financial outflow from the relevant tax authorities. The Board assesses any such matters on an ongoing basis and there are no continent liabilities as at 30 June 2025. Brooks Macdonald Asset Management Limited, a subsidiary company of the Group, has an agreement with the Royal Bank of Scotland plc to guarantee settlement for trading with CREST stock on behalf of clients. The Group holds client assets to fund such trading activity.", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-408": { "value": "36. Contingent liabilities and guarantees In the normal course of business, the Group is exposed to legal and regulatory issues, which, in the event of a dispute, could develop into litigious proceedings and, in some cases, may result in contingent liabilities. Similarly, a contingent liability may arise in the event of a finding in respect of the Group\u2019s tax affairs, including the accounting for VAT, which could result in a financial outflow from the relevant tax authorities. The Board assesses any such matters on an ongoing basis and there are no continent liabilities as at 30 June 2025. Brooks Macdonald Asset Management Limited, a subsidiary company of the Group, has an agreement with the Royal Bank of Scotland plc to guarantee settlement for trading with CREST stock on behalf of clients. The Group holds client assets to fund such trading activity.", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-354": { "value": "
37. Related-party transactions
Transactions between the Company and its subsidiaries, which are related parties, are eliminated
on consolidation. The Company\u2019s individual financial statements include the amounts attributable
to subsidiaries.
Transactions with key management personnel
Key management personnel are those persons having authority and responsibility for planning,
directing and controlling the activities of the Group, directly or indirectly, including any Director
(whether executive or otherwise) of the Group. Details of the compensation paid to the Board
of Directors as well as their shareholding in the Company are disclosed in the Remuneration
Committee report.
Certain of the Group\u02bcs key management personnel make use of the services provided by
companies within the Group. Charges for such services are made at various staff rates. All
transactions were made on normal business terms.
", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-390": { "value": "37. Related-party transactions Transactions between the Company and its subsidiaries, which are related parties, are eliminated on consolidation. The Company\u2019s individual financial statements include the amounts attributable to subsidiaries. Transactions with key management personnel Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the Group, directly or indirectly, including any Director (whether executive or otherwise) of the Group. Details of the compensation paid to the Board of Directors as well as their shareholding in the Company are disclosed in the Remuneration Committee report. Certain of the Group\u02bcs key management personnel make use of the services provided by companies within the Group. Charges for such services are made at various staff rates. All transactions were made on normal business terms.", "dimensions": { "concept": "ifrs-full:DisclosureOfTransactionsBetweenRelatedPartiesExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-403": { "value": "Transactions with key management personnel Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the Group, directly or indirectly, including any Director (whether executive or otherwise) of the Group. Details of the compensation paid to the Board of Directors as well as their shareholding in the Company are disclosed in the Remuneration Committee report. Certain of the Group\u02bcs key management personnel make use of the services provided by companies within the Group. Charges for such services are made at various staff rates. All transactions were made on normal business terms.", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-355": { "value": "
38. Interest in unconsolidated structured entities
Structured entities are those entities that have been designed so that voting or similar rights are
not the dominant factor in deciding who has control, such as when any voting rights relate to
administrative tasks only, or when the relevant activities are directed by means of contractual
arrangements. The Group\u2019s interests in consolidated and unconsolidated structured entities are
described below.
The only consolidated structured entity is the Brooks Macdonald Group EBT, details of which are
given in note 32.
The Group has interests in structured entities as a result of contractual arrangements arising from
the management of assets on behalf of its clients. These structured entities consist of unitised
vehicles such as OEICs, which entitle investors to a percentage of the vehicle\u2019s net asset value.
The structured entities are financed by the purchase of units or shares by investors. As fund
manager, the Group does not guarantee returns on its funds or commit to financially support
its funds. Where external finance is raised, the Group does not provide a guarantee for the
repayment of any borrowings. The business activity of all structured entities in which the Group
has an interest is the management of assets in order to maximise investment returns for investors
from capital appreciation and/or investment income. The Group earns a management fee from
its structured entities based on a percentage of the entity\u2019s net asset value.
The funds under management of unconsolidated structured entities within the Group\u2019s
continuing operations total \u00a31.208 billion (2024: \u00a31.323 billion). Included in the revenue from
continuing operations on the consolidated statement of comprehensive income is management
fee income of \u00a36,598,000 (2024: \u00a36,914,000) from unconsolidated structured entities managed by
the Group.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestsInUnconsolidatedStructuredEntitiesExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } }, "fact-356": { "value": "
39. Events since the end of the year
A final dividend was declared on 3 September 2025, refer to note 16 for further details.
In August 2025, the Group accepted an offer from its insurers for \u00a31.3 million in settlement of
legacy matters related to its International business. As the offer was made and accepted after
the financial reporting date, and the receipt of funds was not considered virtually certain as
at 30 June 2025, no asset has been recognised in these financial statements. However, at the
date of signing these financial statements, the receipt of the proceeds was deemed probable.
Accordingly, the insurance proceeds are expected to be recognised as other non-operating
income in the statement of comprehensive income in the financial year ending 30 June 2026.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:213800WRDF8LB8MIEX37", "period": "2024-07-01T00:00:00/2025-07-01T00:00:00" } } } }