Financial Statements
Strategic Report
Governance Report
Other Information
17. Financial assets at fair value through other comprehensive income continued
Level 1 £’000
Level 2 £’000
Level 3 £’000
Total £’000
Financial assets At 1 July 2023
825
– – – – –
500
1,325
–
– – –
–
Additions
29,963
29,963
Financial assets held at amortised cost
80
80
Changes in fair value
At 30 June 2024
30,868
500
31,368
Comprising: Financial assets at fair value through other comprehensive income
–
– – – –
500
500
29,963
– –
29,963
Financial assets held at amortised cost (Note 16)
905
905
Financial assets at fair value through profit and loss (Note 18)
Total financial assets
30,868
500
31,368
The Level 3 assets include unlisted preference shares, which are valued using a perpetuity income model, based upon the preference dividend cash flows. The fair value of the assets are not deemed to be impacted by changes in the unobservable inputs as the dividend cash flows are contractual.
Level 1 £’000
Level 2 £’000
Level 3 £’000
Total £’000
Financial liabilities At 1 July 2023
– – – – – –
– – – – – –
1,467
1,467
13
13
Finance cost of deferred contingent consideration
(3)
(3)
Change in fair value
(852) (625)
(852) (625)
Payments made
Share issues as consideration
At 30 June 2024
–
–
Comprising: Deferred contingent consideration (Note 24)
– –
– –
– –
– –
Total financial liabilities
The Level 3 financial liabilities consist of deferred contingent consideration, 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 (Note 24). The fair value is sensitive to the change in management-approved forecasts; 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.
Brooks Macdonald Group plc Annual Report and Accounts 2024
141
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