Notes to the Company financial statements continued For the year ended 30 June 2025
44. Profit for the year The Company reported profit after tax for the year ended 30 June 2025 of £731,000 (2024: £13,105,000). Auditors’ remuneration is disclosed in note 9 of the consolidated financial statements. The average monthly number of employees during the year was nine (2024: eight). Directors’ emoluments are set out in Remuneration Committee report on pages 78 to 94. 45. Dividends Details of the Company’s dividends paid and proposed, subject to approval at the Annual General Meeting, are set out in note 16 of the consolidated financial statements. 46. Investment in subsidiaries
Details of the Company’s subsidiary undertakings at 30 June 2025, all of which were 100% owned (except for Integrity Wealth (Holdings) Limited, which is 73.7% owned) and included in the consolidated financial statements, are provided below:
Type of shares and par value
Country of incorporation Nature of business
Company
Adroit Financial Planning Limited
Ordinary 1p UK Ordinary 1p UK
Wealth management Parent holding company Investment and wealth management
Braemar Group Limited Brooks Macdonald Asset Management Limited
Ordinary £1
UK
Brooks Macdonald Financial Consulting Limited Brooks Macdonald Funds Limited
Ordinary 5p UK
Non-trading Non-trading Non-trading
Ordinary £1
UK UK UK UK UK UK UK UK UK
Group undertakings £’000
Brooks Macdonald Nominees Limited Ordinary £1
Cornelian Asset Managers Group Limited CST Wealth Management Limited
Ordinary 20p Ordinary £1 Ordinary £1 Ordinary £1 Ordinary £1 Ordinary £1 Ordinary £1
Non-trading Wealth Management Fund management
Net book value At 1 July 2023
Cornelian Asset Managers Limited
110,302
Cornelian Asset Managers Nominees Limited
Impairment in subsidiary
(6,074) 2,398 (4,215)
Non-trading
Capital contributions to subsidiaries relating to share-based payments Capital contributions from subsidiaries relating to share-based payments
Integrity Wealth (Holdings) Limited Integrity Wealth Bidco Limited Integrity Wealth Solutions Limited Levitas Investment Management Services Limited Lucas Fettes Holdings Limited Lucas Fettes and Partners (Financial Services) Limited LIFT-Financial Group Limited
Parent holding company
Non-trading
At 30 June 2024
102,411 53,790 (44,097)
Wealth management
Additions
Ordinary £1 Ordinary £1
UK UK
Fund sponsor
Disposal of investment in subsidiary
Parent holding company
(2,073)
Capital contributions from subsidiaries relating to share-based payments
At 30 June 2025
110,031
Ordinary £1
UK
Wealth management Parent holding company Investment management Financial planning services Financial planning services Insurance broking services Financial planning services Mortgage broking services Corporate client advice
Ordinary 1p UK
During the financial year, the Company acquired the entire share capital of CST, Lucas Fettes and of LIFT. The total cost of acquiring these entities was £53,793,000 (refer to note 14 for further detail). At the end of the financial year, no indicators of impairment were identified for any of the investments in subsidiaries. During the financial year, the Company also disposed of its investment in Brooks Macdonald Asset Management (International) Limited. The total consideration of £38,043,000 was lower than the cost of investment of £44,097,000 and disposal expenses of £3,635,000 and therefore a loss on disposal of £9,689,000 was recognised (refer to note 13 for further detail).
LIFT-Invest Limited LIFT-Financial Limited LIFT-Sport Limited LIFT-Insurance Limited LIFT-Advice Limited LIFT-Mortgages Limited LIFT-Workwise Limited
Ordinary £1 Ordinary £1 Ordinary £1 Ordinary £1 Ordinary £1 Ordinary £1 Ordinary £1 Ordinary £1
UK UK UK UK UK UK UK UK
LIFT-Tax Limited
Dormant
156
Brooks Macdonald Group plc Annual Report and Accounts 2025
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