i Table of contents 178

Reigniting growth - Annual Report and Accounts 2024

Brooks Macdonald Group plc Annual Report and Accounts for the year ended 30 June 2024

Contents		2
Highlights of the year		3
Group at a glance		4
Investment case		6
Strategic report		9
Chair’s statement		10
CEO’s review		12
Market overview		15
Business model		18
Our services		20
How we engage with our stakeholders		23
Our strategy		28
Key Performance Indicators		30
Financial review		32
Risk management		41
Viability statement		45
Responsible business		46
Our approach to responsible business		46
Supporting our people		47
Supporting our community		51
Supporting our environment		53
Summary disclosure against TCFD recommendations		55
Governance report		61
Introduction to Corporate governance		62
Board of Directors		64
FY24 Company timeline		67
Board overview		68
Board and committee structure		69
Case study - Operating model and strategy refresh		72
Audit Committee report		73
Nomination Committee report		77
Remuneration Committee report		80
Risk and Compliance Committee report		99
Report of the Directors		102
Statement of directors’ responsibilities of the financial statements		104
Independent Auditors’ report		105
Financial Statements		111
Consolidated statement of comprehensive income		112
Consolidated statement of financial position		113
Consolidated statement of changes in equity		114
Consolidated statement of cash flows		115
Notes to the consolidated financial statements		116
1. General information		116
2. Principal accounting policies		116
3. Segmental information		121
4. Revenue		124
5. Employee information		125
6. Other gains/(losses) – net		127
7. Operating profit		128
8. Finance income and finance costs		128
9. Taxation		129
10. Business combinations – prior year ended 30 June 2023		131
11. Earnings per share		134
12. Dividends		135
13. Intangible assets		136
14. Property, plant and equipment		140
15. Right-of-use assets		141
16. Financial assets held at amortised cost		142
17. Financial assets at fair value through other comprehensive income		142
18. Financial assets at fair value through profit or loss		144
19. Net deferred tax liabilities		144
20. Trade and other receivables		147
21. Cash and cash equivalents		148
22. Lease liabilities		148
23. Provisions		149
24. Deferred contingent consideration		150
25. Trade and other payables		150
26. Other non-current liabilities		151
27. Reconciliation of operating profit to net cash inflow from operating activities		151
28. Share capital and share premium account		152
29. Retained earnings and other reserves		153
30. Equity-settled share-based payments		154
31. Financial risk management		159
32. Capital management		160
33. Contingent liabilities and guarantees		161
34. Related-party transactions		161
35. Interest in unconsolidated structured entities		161
36. Events since the end of the year		162
Company Financial Statements		163
Company statement of financial position		164
Company statement of changes in equity		165
Company statement of cash flows		166
Notes to the Company financial statements		167
37. Principal accounting policies		167
38. Critical accounting judgements and key sources of estimation and uncertainty		167
39. Profit for the year		168
40. Dividends		168
41. Investment in subsidiaries		168
42. Financial assets at fair value through other comprehensive income		170
43. Financial assets at amortised cost		170
44. Trade and other receivables		170
45. Deferred contingent consideration		171
46. Trade and other payables		171
47. Reconciliation of operating profit to net cash inflow from operating activities		171
48. Share capital and share premium account		172
49. Related-party transactions		173
50. Financial risk management objectives and policies		173
51. Events since the end of the year		173
Other Information		175
Non-IFRS financial information		174
Company information		175
Glossary		176
Our offices		178

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