ANCHOR-R&A-2024-FNL-080824

35. Acquisitions On 26 June 2023 Anchor Hanover Group (the Association) acquired 100% of the issued share capital of Hadrian Healthcare (Skipton) Limited for a consideration of £12,729,970. Immediately thereafter the trade, assets and liabilities of Hadrian Healthcare (Skipton) Limited were sold to the Association for a consideration of £30,750,000. A final gift aid payment of the remaining distributable reserves was made from Hadrian Healthcare (Skipton) Limited to the Association, leaving Hadrian Healthcare (Skipton) Limited with a £1 balance sheet. The gift aid payment reduced the Association's investment in Hadrian Healthcare (Skipton) Limited to £21,585 and the Association has subsequently written down this investment to £1. On 27 June 2023 Hadrian Healthcare (Skipton) Limited was renamed to Anchor (Skipton) Limited. Note 35.1 sets out the impact on the Group of the first transaction. Note 35.2 sets out the impact on the Association of the second transaction. Subsequent to the above, events all ongoing trade and associated revenues, costs and surpluses have arisen in the Association.

35.1 Group The following table sets out the fair value of the identifiable assets and liabilities to the Group at the date of acquisition of the share capital of Hadrian Healthcare (Skipton) Limited.

Hadrian Healthcare (Skipton) Limited £’000

Fixed assets Tangible fixed assets: housing

30,790 30,790

Current assets Trade and other debtors: amounts due within one year

154 154

Total assets

30,944

Creditors: amounts falling due within one year Creditors: amounts falling due after one year

(625)

(17,589) (18,214)

Total liabilities

Net assets acquired

12,730 12,626

Cash

Cost of acquisition Total consideration

104

12,730

112 Anchor Hanover Group Annual Report & Financial Statements 2024

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