121
Financial statements
OCU Group | Annual report and financial statements 2025
Strategic report
Governance
for the year ended 30 April 2025 Notes to the consolidated financial statements
13. Tangible assets
Land and buildings £000
Plant and machinery £000
Leasehold improvements £000
Fixtures and fittings £000
Motor vehicles £000
Assets under construction £000
Total £000
Cost At 1 May 2024
—
32,482
2,592
4,219
737
—
40,030
On acquisition
1,506
10,036
—
608
1,930
—
14,080
Additions
—
19,573
333
2,515
1,706
349
24,476
Transfers
14
41
(14)
60
(101)
—
—
Disposals
—
(7,908)
—
(425)
(1,430)
—
(9,763)
At 30 April 2025 Depreciation At 1 May 2024
1,520
54,224
2,911
6,977
2,842
349
68,823
—
(7,222)
(498)
(897)
(366)
—
(8,983)
Charge for the year
(68)
(9,839)
(432)
(1,820)
(1,325)
—
(13,484)
Disposals
—
4,712
—
401
1,358
—
6,471
At 30 April 2025 Net book value At 30 April 2025
(68)
(12,349)
(930)
(2,316)
(333)
—
(15,996)
1,452
41,875
1,981
4,661
2,509
349
52,827
At 30 April 2024
—
25,260
2,094
3,322
371
—
31,047
On acquisition assets have been recognised at fair value; further details are provided in note 27.
Transfers reflect:
• £101,000 (2024: £nil) of assets previously capitalised as motor vehicles are now reported as fixtures and fittings and plant and machinery. • £14,000 (2024: £nil) of assets previously capitalised as leasehold improvements are now reported as land and buildings, as defined under the Group accounting policy.
The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts:
2025 £000
2024 £000
15,218
Plant and machinery
13,581
73
Motor vehicles
197
15,291
13,778
Depreciation charge for the year in respect of leased assets
2,191
2,814
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