Company registration number: 15092183
COMPANY INFORMATION
CONTENTS
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Directors present their Group strategic report for the year ended 31 March 2025.
Lumen Topco Ltd is a company incorporated on the 23rd of August 2023. The group commenced trading on 6 October 2023, so the profit and loss for the comparative period only reflects six months of trading.
The main trading subsidiary, GIA Surveyors Ltd, are a leading firm of surveyors specialised in rights of light, daylight, solar design and neighbourly matters, we also offer a full range of wind assessments and commercial building surveying services across all property types.
We work with architects, owners, occupiers, developers, and planning consultants across both the public and private sectors. With a network of offices across the UK and Ireland in Belfast, Birmingham, Bristol, Dublin, London, and Manchester.
Lumen Topco group employs over 140 members of staff and is managed strategically by a Board of Directors to whom a wider group of Directors and Head of Departments report into to ensure all aspects of the business are carefully controlled.
There were significant economic challenges experienced during the financial year largely due to inflation and higher interest rates. The property industry has been negatively impacted by these economic factors, which softened demand in the industry, while also raised operating costs for our clients and ourselves.
The main trading subsidiary, GIA Surveyors Ltd, are a leading firm of surveyors specialised in rights of light, daylight, solar design and neighbourly matters, we also offer a full range of wind assessments and commercial building surveying services across all property types.
We work with architects, owners, occupiers, developers, and planning consultants across both the public and private sectors. With a network of offices across the UK and Ireland in Belfast, Birmingham, Bristol, Dublin, London, and Manchester.
Lumen Topco group employs over 140 members of staff and is managed strategically by a Board of Directors to whom a wider group of Directors and Head of Departments report into to ensure all aspects of the business are carefully controlled.
There were significant economic challenges experienced during the financial year largely due to inflation and higher interest rates. The property industry has been negatively impacted by these economic factors, which softened demand in the industry, while also raised operating costs for our clients and ourselves.
Our aim is to continue to be the market leader in our core services as well as expand our presence in our regional areas.
There is desire to grow the Group both organically and through acquisition in the medium term, by bringing strategically aligned companies to develop new lines of business, new geographic reach and grow existing services. Any new services we bring in need to have a large addressable market, truly embed tech and align with our values.
The directors have worked on detailed business plans during the year to enable the business to grow and succeed in the future and to realise the ambitions of future talent in the business.
There is desire to grow the Group both organically and through acquisition in the medium term, by bringing strategically aligned companies to develop new lines of business, new geographic reach and grow existing services. Any new services we bring in need to have a large addressable market, truly embed tech and align with our values.
The directors have worked on detailed business plans during the year to enable the business to grow and succeed in the future and to realise the ambitions of future talent in the business.
Any risks and uncertainties identified in our business were documented, reviewed, and revised at Board level.
Within the industry, our staff are required to visit many different third-party sites to satisfy our clients commercial property requirements. Therefore Health & Safety of all our staff is a top risk and top priority. Having a strong culture backed up by high quality continued training and induction programs helps us to keep awareness elevated and to make sure staff are always healthy and safe.
The industry we operate in, is a medium size industry with ever increasing numbers of competitors. We have seen an increase in smaller entities with lower operating costs undercutting larger companies. Competitors are improving their technology which could potentially take away our competitive advantage. To mitigate this risk, we continuously monitor the market and perform competitor analysis, and we rigorously seek feedback from our clients, especially on lost jobs. We are also able to adapt to our clients’ new requirements throughout the live of our projects and ensure new specifications are adhered to.
The uncertainties in the economy as well as international conflicts present risk to our business with foreign investment being reduced and with some of our services being affected. Our aim is to mitigate this risk by continuing to expand geographically into new areas within the UK and Ireland
Cash flow risk: The directors carefully monitor the cash levels of the group to ensure that there are always cash funds available to meet the day to day working capital requirements of the business.
Within the industry, our staff are required to visit many different third-party sites to satisfy our clients commercial property requirements. Therefore Health & Safety of all our staff is a top risk and top priority. Having a strong culture backed up by high quality continued training and induction programs helps us to keep awareness elevated and to make sure staff are always healthy and safe.
The industry we operate in, is a medium size industry with ever increasing numbers of competitors. We have seen an increase in smaller entities with lower operating costs undercutting larger companies. Competitors are improving their technology which could potentially take away our competitive advantage. To mitigate this risk, we continuously monitor the market and perform competitor analysis, and we rigorously seek feedback from our clients, especially on lost jobs. We are also able to adapt to our clients’ new requirements throughout the live of our projects and ensure new specifications are adhered to.
The uncertainties in the economy as well as international conflicts present risk to our business with foreign investment being reduced and with some of our services being affected. Our aim is to mitigate this risk by continuing to expand geographically into new areas within the UK and Ireland
Cash flow risk: The directors carefully monitor the cash levels of the group to ensure that there are always cash funds available to meet the day to day working capital requirements of the business.
Page 1
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
During FY25 the group achieved a turnover of £17,788,260 (2024 - £8,396,257) with a healthy gross profit of 48.7% (2024 - 51.8%).
The Group has achieved an EBITDA of £2,819,652 with an EBITDA margin of 16%, the EBITDA margin is 3% higher than the prior period. While revenue has been lower in the current year, we have managed to achieve an improvement in EBITDA margin through an increase in gross profit.
The balance sheet showed a positive net asset position at 31 March 2025 of £3,843,920 (2024 - £6,181,540).
Debtors Days were 74 at 31 March 2025, this is an improvement of 4 days from 31 March 2024.
The Group has achieved an EBITDA of £2,819,652 with an EBITDA margin of 16%, the EBITDA margin is 3% higher than the prior period. While revenue has been lower in the current year, we have managed to achieve an improvement in EBITDA margin through an increase in gross profit.
The balance sheet showed a positive net asset position at 31 March 2025 of £3,843,920 (2024 - £6,181,540).
Debtors Days were 74 at 31 March 2025, this is an improvement of 4 days from 31 March 2024.
Our surveyors, design analysts and support teams are focused on delivering the best results. As leading experts in our fields, we deliver the knowledge, experience, and professionalism that our clients have come to rely on. As such, our people are our talent, and we genuinely care about their wellbeing inside and outside work. The Directors ensure there is a high level of visibility between the Board and our people and communication flows both ways.
The directors are aware of the importance of maintaining good business relationships with its clients, suppliers, and other stakeholders. We listen carefully to our clients’ needs and feedback to constantly improve our service and strive for long lasting business relationships.
The directors support and encourage initiatives that make a real positive difference for the environment, communities, and our people by expanding our apprenticeship and graduate scheme, implement an EV scheme and more recently introducing ourselves in solar PV farms.
The directors, in conjunction with the Group’s Board seek to maintain high standards business conduct by leading the way on strong cultural values and good governance.
The Directors and Group Board regularly communicates with our shareholders through regular meetings, internal newsletters and intranet.
As part of its commitment to aligning employee interests with long-term business performance, the company introduced a growth share arrangement during the financial year. Under this arrangement, selected employees may be offered the opportunity to acquire equity interests, enabling them to benefit from the increase in company value that their contributions help to drive.
As part of its commitment to aligning employee interests with long-term business performance, the company introduced a growth share arrangement during the financial year. Under this arrangement, selected employees may be offered the opportunity to acquire equity interests, enabling them to benefit from the increase in company value that their contributions help to drive.
This report was approved by the board and signed on its behalf.
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DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The directors present their report and the financial statements for the year ended 31 March 2025.
The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The loss for the year, after taxation, amounted to £2,350,343 (2024 - loss £1,427,842).
The directors who served during the year were:
The introduction of private equity has resulted in a desire to grow the business both organically and through acquisition. The directors have worked on detailed business plans during the year to enable the business to grow and succeed in the future and to realise the ambitions of future talent in the business.
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
There have been no significant events affecting the Group since the year end.
Under section 487(2) of the Companies Act 2006, Menzies LLP will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.
This report was approved by the board and signed on its behalf.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LUMEN TOPCO LIMITED
We have audited the financial statements of Lumen Topco Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 March 2025, which comprise the Consolidated statement of income and retained earnings, the Consolidated statement of financial position, the Company statement of financial position, the Consolidated statement of cash flows, the Consolidated statement of changes in equity, the Company statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LUMEN TOPCO LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LUMEN TOPCO LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
∙The Group and parent Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We determined that the following laws and regulations were most significant including UK Companies Act, employment law and tax legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
∙We understood how the Group and parent Company are complying with those legal and regulatory frameworks by, making inquiries to management, those responsible for legal and compliance procedures.
∙The engagement lead assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations. The assessment did not identify any issues in this area.
∙We assessed the susceptibility of the Group and parent Company's financial statements to material misstatement,
including how fraud might occur. Audit procedures performed by the engagement team included:
including how fraud might occur. Audit procedures performed by the engagement team included:
°Identifying and assessing the design effectiveness of controls management has in place to prevent and detect
fraud;
fraud;
°Understanding how those charged with governance considered and addressed the potential for override of
controls or other inappropriate influence over the financial reporting process; and
controls or other inappropriate influence over the financial reporting process; and
°Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.
∙As a result of the above procedures, we considered the opportunities and incentives that may exist within the
organisation for fraud and identified the greatest potential for fraud in the following areas:
organisation for fraud and identified the greatest potential for fraud in the following areas:
°Posting of unusual journals and complex transactions; and,
°Misstatement of revenue due to assumptions and judgments made in relation to amounts recoverable under contracts
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LUMEN TOPCO LIMITED (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditor
Magna House
18-32 London Road
TW18 4BP
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CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 MARCH 2025
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CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 16 to 34 form part of these financial statements.
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COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 16 to 34 form part of these financial statements.
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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
Page 12
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
Page 13
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
Page 14
CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 MARCH 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Lumen Topco Limited is a private company limited by shares and incorporated in England and Wales. The address of its registered office is found on the company information page. The principal place of business is The Whitehouse, Belvedere Road, London, England, SE1 8GA.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of income and retained earnings in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of income and retained earnings from the date on which control is obtained. They are deconsolidated from the date control ceases.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of income and retained earnings from the date on which control is obtained. They are deconsolidated from the date control ceases.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Goodwill
Development costs
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities are addressed below.
Provision against amounts recoverable on contracts
The directors perform a continual review over individual significant account balances on the amount recoverable on contracts. Where an amount is not expected to be recovered a provision is made to reduce the balance to its recoverable amount. Should the level of recovery be lower than estimated, this would impact future results and cashflows as the amounts invoiced would be lower than the carrying value of the amounts recoverable on contracts.
Amortisation of intangible assets
The amortisation period for goodwill and intangible fixed assets is evaluated based on their anticipated useful lives. Management reviews this, along with the residual values of the intangible fixed assets, throughout the financial period. As of 31 March 2025, the directors concluded that there were no significant changes in the useful lives and residual values. Any alterations in judgments could lead to a substantial adjustment in the Statement of Income and Retained Earnings.
Assumptions in Goodwill impairment review
Annually, the company considers whether goodwill is impaired. Where an indication of impairment is identified the estimation of recoverable value requires estimation of the recoverable value of the cash-generating units (CGU). This requires estimation of the future cash flows from the CGU's and also selection of appropriate discount rates in order to calculate the net present value of those cash flows. The recoverable amount of the CGU is a source of significant estimation uncertainty and determining this involves the use of significant assumptions.
The calculations use cash flow projections based on financial budgets approved by the directors covering a five year period. Cash flows beyond the five-year period are extrapolated using an estimated growth rate. If actual cash flows are not in line with budgeted cash flows, additional impairment of the CGU's net book value of £19,864,441 may result.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 22
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 23
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 24
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
11.Taxation (continued)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Page 27
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 29
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 30
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £400,028 (2024 - £195,256). Contributions totalling £65,626 (2024 -£129,507) were payable to the fund at the balance sheet date and are included in creditors.
Page 31
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Page 32
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
24.Share capital (continued)
Share premium account
Profit and loss account
Page 33
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The immediate parent company is LCP Lumen Co-Invest L.P. , a limited partnership registered in England, with address 21 Upper Brook Street, London, W1K 7PY.
The directors are of the opinion that there is no ultimate controlling party.
The directors are of the opinion that there is no ultimate controlling party.
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