v3.24.3
Business combinations (Tables)
 12 Months Ended
Jun. 30, 2024
Disclosure of detailed information about business combination [abstract]  
Schedule of movements of consideration paid
Set out below is a reconciliation of movements of consideration paid to cash flows used in investing activities:
2024
£’000
Payment for acquisition of GalaxE, net of cash acquired216,559 
Payment for acquisition of EQ Tek, net of cash acquired12,505 
Payment for acquisition of TLM, net of cash acquired3,054 
Acquisition of TLM - cash paid in respect with contingent consideration342 
Acquisition of BAC - cash paid in respect with deferred consideration1,278 
Acquisition of Lexicon - cash paid in respect with contingent consideration2,372 
Total payments for acquisitions of subsidiaries, net of cash acquired236,110 
Other changes
Acquisition of EQ Tek - accounts completion pending settlement(509)
Total acquisition - other related changes(509)
Total cash consideration disclosed in note 15235,601 
Schedule of business combinations The following table summarises the acquisition date fair values of each major class of consideration transferred:
Provisional
£’000
Initial cash consideration223,045 
Equity consideration13,778 
Fair value of contingent consideration4,443 
Total consideration transferred241,266 
The Company's allocation of the total purchase consideration amongst the net liabilities acquired is as follows:
Carrying Value
£’000		Provisional Fair Value Adjustments
£'000		Provisional Fair Value
£'000
Intangible assets - client relationships— 66,287 66,287 
Software - own work capitalised37,554 (28,176)9,378 
Property, plant and equipment480 — 480 
Right of use assets4,125 — 4,125 
Deferred tax asset474 6,179 6,653 
Cash and cash equivalents6,486 — 6,486 
Trade and other receivables19,837 (1,079)18,758 
Lease liabilities(4,133)— (4,133)
Borrowings(48,566)— (48,566)
Trade and other payables(43,420)— (43,420)
Corporation tax payable(37)(3,558)(3,595)
Deferred tax liability— (23,433)(23,433)
Fair value of net liabilities acquired(27,200)16,220 (10,980)
The following table summarises the acquisition date fair values of each major class of consideration transferred:
Final
£’000
Initial cash consideration13,881 
Fair value of deferred consideration943 
Total consideration transferred14,824 
The Company's allocation of the total purchase consideration amongst the net assets acquired is as follows:
£’000
Property, plant and equipment336 
Cash and cash equivalents1,885 
Trade and other receivables1,848 
Trade and other payables(1,932)
Corporation tax payable(638)
Fair value of net assets acquired1,499 
The following table summarises the acquisition date fair values of each major class of consideration transferred:
£’000
Initial cash consideration3,214 
Fair value of deferred consideration741 
Fair value of contingent consideration - tax refund296 
Fair value of contingent consideration4,082 
Total consideration transferred8,333 
The Company's allocation of the total purchase consideration amongst the net liabilities acquired is as follows:
£’000
Intangible assets - client relationships2,106 
Property, plant and equipment88 
Deferred tax asset633 
Cash and cash equivalents160 
Trade and other receivables1,106 
Borrowings(5,740)
Trade and other payables(3,843)
Deferred tax liability(537)
Fair value of net liabilities acquired(6,027)
The following table summarises the acquisition date fair values of each major class of consideration transferred:
Provisional
£’000		Adjustments
£'000		Final
£'000
Initial cash consideration44,272 (1,269)43,003 
Equity consideration5,337 — 5,337 
Fair value of deferred consideration2,468 — 2,468 
Fair value of contingent consideration5,071 — 5,071 
Total consideration transferred57,148 (1,269)55,879 
The Company's allocation of the total purchase consideration amongst the net assets acquired is as follows:
Provisional
£’000		Adjustments
£'000		Final
£'000
Intangible assets - client relationships16,459 (743)15,716 
Property, plant and equipment354 — 354 
Right of use assets4,667 — 4,667 
Deferred tax asset— 641 641 
Cash and cash equivalents10,817 — 10,817 
Trade and other receivables13,006 385 13,391 
Corporation tax receivable368 (200)168 
Lease liabilities(4,752)— (4,752)
Trade and other payables(24,550)(669)(25,219)
Corporation tax payable(659)659 — 
Deferred tax liability(4,197)189 (4,008)
Fair value of net assets acquired11,513 262 11,775 
The following table summarises the acquisition date fair values of each major class of consideration transferred:
Provisional
£’000		Adjustments
£'000		Final
£'000
Initial cash consideration7,361 (30)7,331 
Equity consideration2,831 — 2,831 
Fair value of deferred consideration1,084 — 1,084 
Fair value of contingent consideration3,823 — 3,823 
Total consideration transferred15,099 (30)15,069 
The Company's allocation of the total purchase consideration amongst the net assets acquired is as follows:
Provisional
£’000		Adjustments
£'000		Final
£'000
Intangible assets - client relationships2,997 — 2,997 
Property, plant and equipment29 — 29 
Deferred tax asset133 129 262 
Cash and cash equivalents546 — 546 
Trade and other receivables818 — 818 
Trade and other payables(1,236)— (1,236)
Corporation tax payable(55)(121)(176)
Deferred tax liability(899)— (899)
Fair value of net assets acquired2,333 8 2,341 
The following table summarises the acquisition date fair values of each major class of consideration transferred:
£’000
Initial cash consideration32,025 
Equity consideration9,975 
Fair value of deferred consideration1,416 
Fair value of contingent consideration5,877 
Total consideration transferred49,293 
The Company's allocation of the total purchase consideration amongst the net assets acquired is as follows:
£’000
Intangible assets - client relationships4,530 
Property, plant and equipment51 
Right of use assets299 
Deferred tax asset136 
Cash and cash equivalents1,824 
Trade and other receivables2,098 
Lease liabilities(319)
Trade and other payables(1,192)
Corporation tax payable(825)
Deferred tax liability(1,359)
Fair value of net assets acquired5,243 
The following table summarises the acquisition date fair values of each major class of consideration transferred:
£’000
Initial cash consideration5,400 
Equity consideration1,505 
Fair value of deferred consideration1,225 
Fair value of contingent consideration6,901 
Total consideration transferred15,031 
The Company's allocation of the total purchase consideration amongst the net assets acquired is as follows:
£’000
Intangible assets9 
Intangible assets - Client relationships1,240 
Property, plant and equipment12 
Cash and cash equivalents576 
Trade and other receivables930 
Corporation tax receivable115 
Trade and other payables(335)
Deferred tax liability(296)
Fair value of net assets acquired2,251 
Schedule of goodwill arising from acquisition
Goodwill arising from the acquisition has been recognised as follows:
Provisional
£’000
Consideration transferred241,266 
Fair value of net liabilities acquired10,980 
Goodwill252,246 
Goodwill arising from the acquisition has been recognised as follows:
£’000
Consideration transferred14,824 
Fair value of net assets acquired(1,499)
Goodwill13,325 
Goodwill arising from the acquisition has been recognised as follows:
£’000
Consideration transferred8,333 
Fair value of net liabilities acquired6,027 
Goodwill14,360 
Goodwill arising from the acquisition has been recognised as follows:
Provisional
£’000		Adjustments
£'000		Final
£'000
Consideration transferred57,148 (1,269)55,879 
Fair value of net assets acquired(11,513)(262)(11,775)
Goodwill45,635 (1,531)44,104 
Goodwill arising from the acquisition has been recognised as follows:

Provisional
£’000		Adjustments
£'000		Final
£'000
Consideration transferred15,099 (30)15,069 
Fair value of net assets acquired(2,333)(8)(2,341)
Goodwill12,766 (38)12,728 
Goodwill arising from the acquisition has been recognised as follows:
£’000
Consideration transferred49,293 
Fair value of net assets acquired(5,243)
Goodwill44,050 
Goodwill arising from the acquisition has been recognised as follows:
£’000
Consideration transferred15,031 
Fair value of net assets acquired(2,251)
Goodwill12,780 
Schedule of business acquisition, pro-forma information
Revenue and Loss of GalaxE from the GalaxE Acquisition Date to 30 June 2024:
£’000
Revenue23,596 
Loss(1,840)
Management’s estimate of Revenue and Loss of GalaxE for the reporting period ended 30 June 2024 (had the acquisition occurred at the beginning of the reporting period):
£’000
Revenue121,984 
Loss(6,189)
Revenue and Profit of EQ Tek from the EQ Tek Acquisition Date to 30 June 2024:
£’000
Revenue5,102 
Profit615 
Management’s estimate of Revenue and Profit of EQ Tek for the reporting period ended 30 June 2024 (had the acquisition occurred at the beginning of the reporting period):
£’000
Revenue15,305 
Profit1,727 
Revenue and Loss of TLM from the TLM Acquisition Date to 30 June 2024:
£’000
Revenue5,262 
Loss(7,803)
Management’s estimate of Revenue and Loss of TLM for the reporting period ended 30 June 2024 (had the acquisition occurred at the beginning of the reporting period):
£’000
Revenue5,742 
Loss(8,152)
Revenue and Profit of DEK from the DEK Acquisition Date to 30 June 2023:
£’000
Revenue1,703 
Profit371 
Management’s estimate of Revenue and Profit of DEK for the reporting period ended 30 June 2023 (had the acquisition occurred at the beginning of the reporting period):
£’000
Revenue29,030 
Profit3,273 
Revenue and Profit of Mudbath from the Mudbath Acquisition Date to 30 June 2023:
£’000
Revenue2,019 
Profit297 
Management’s estimate of Revenue and Profit of Mudbath for the reporting period ended 30 June 2023 (had the acquisition occurred at the beginning of the reporting period):
£’000
Revenue10,086 
Profit127 
Revenue and Profit of Lexicon from the Lexicon Acquisition Date to 30 June 2023:
£’000
Revenue11,867 
Profit605 
Management’s estimate of Revenue and Profit of Lexicon for the reporting period ended 30 June 2023 (had the acquisition occurred at the beginning of the reporting period):
£’000
Revenue16,269 
Profit1,061 
Revenue and Loss of BAC from the BAC Acquisition Date to 30 June 2022:
£’000
Revenue1,790 
Loss112 
Management’s estimate of Revenue and Profit of BAC for the reporting period ended 30 June 2022 (had the acquisition occurred at the beginning of the reporting period):
£’000
Revenue4,391 
Profit227 
Schedule of acquisition related costs
Acquisition-related costs:
£’000
Legal and professional fees1,678 
Acquisition-related costs:
£’000
Legal and professional fees49 
Acquisition-related costs:
£’000
Legal and professional fees769 
Acquisition-related costs:
£’000
Legal and professional fees895 
Acquisition-related costs:
£’000
Legal and professional fees277 
Acquisition-related costs:
£’000
Legal and professional fees770 
Acquisition Related Costs:
£’000
Legal and professional fees292 
Stamp duty87 
Total379