Notes to the consolidated financial statements For the year ended 30 June 2024
16. Financial assets held at amortised cost
17. Financial assets at fair value through other comprehensive income 2024 £’000 2023 £’000 At 1 July 500 500 Change in fair value – – At 30 June 500 500 At 30 June 2024, the Group held an investment of redeemable £500,000 preference shares in an unlisted company incorporated in the UK. The preference shares carry an entitlement to a fixed preferential dividend at a rate of 4% per annum. Unlisted preference shares are classified as financial assets at fair value through other comprehensive income. 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: • Level 1 – derived from quoted prices in active markets for identical assets or liabilities at the measurement date; • Level 2 – derived from inputs other than quoted prices included within Level 1 that are observable, either directly or indirectly; and • Level 3 – derived from inputs that are not based on observable market data.
2024 £’000
2023 £’000
–
At 1 July Additions
– – – – –
29,978
197
Implied interest income
(212)
Contractual coupons received
At 30 June
29,963
During the year ended 30 June 2024, the Group invested £29,978,000 in UK Government Investment Loan and Treasury Stock (“Gilts”). The Gilts carry coupon rates ranging from 1.5%-4.5% per annum and have maturity dates ranging from 2026-28. Investments in Gilts are classified as financial assets at amortised cost.
140 Brooks Macdonald Group plc Annual Report and Accounts 2024
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