Consolidated balance sheet

at 25 March 2023

at 25 March 2023

	Note	As at 25 March 2023 £000	As at 26 March 2022 £000
Assets
Non-current assets
Goodwill	11	82,188	82,188
Other intangible assets	12	7,095	10,343
Property, plant and equipment	13	92,067	91,436
Right-of-use assets	14	13,018	11,070
Interests in JVs and associates	15	31,784	30,136
Contract assets, trade and other receivables	18	2,245	4,881
		228,397	230,054
Current assets
Inventories	16	13,231	18,005
Contract assets, trade and other receivables	18	109,721	117,859
Derivative financial instruments	21	25	670
Current tax assets		2,278	4,171
Cash and cash equivalents	21	11,338	–
		136,593	140,705
Total assets		364,990	370,759

Liabilities
Current liabilities
Bank overdraft	21	–	(3,974)
Contract liabilities, trade and other payables	19	(102,699)	(111,692)
Financial liabilities – borrowings	21	(4,150)	(5,900)
Financial liabilities – leases	21	(2,172)	(1,756)
		(109,021)	(123,322)
Non-current liabilities
Contract liabilities, trade and other payables	19	(2,377)	(3,081)
Retirement benefit obligations	29	(12,871)	(14,396)
Financial liabilities – borrowings	21	(4,800)	(8,950)
Financial liabilities – leases	21	(11,224)	(9,884)
Deferred tax liabilities	20	(6,979)	(7,166)
		(38,251)	(43,477)
Total liabilities		(147,272)	(166,799)

Net assets		217,718	203,960

Equity
Share capital	23	7,739	7,738
Share premium		88,522	88,511
Other reserves	24	5,959	4,485
Retained earnings		115,498	103,226
Total equity		217,718	203,960

The consolidated financial statements were approved by the board of directors on 14 June 2023 and signed on its behalf by:

Alan Dunsmore
Chief Executive Officer

Adam Semple
Chief Financial Officer

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