| Property, plant and equipment |
13 | Property, plant and equipment |
| | | | | | | | | | | | | Freehold | | Plant and | | Fixtures | | Assets under | | | | | property | | machinery | | and fittings | | construction | | Total | | | £’000 | | £’000 | | £’000 | | £’000 | | £’000 | At 1 July 2024 | | | | | | | | | | | Cost | | 289,943 | | 45,809 | | 78,889 | | — | | 414,641 | Accumulated depreciation | | (69,910) | | (34,395) | | (54,218) | | — | | (158,523) | Net book amount | | 220,033 | | 11,414 | | 24,671 | | — | | 256,118 | Year ended 30 June 2025 | | | | | | | | | | | Opening net book amount | | 220,033 | | 11,414 | | 24,671 | | — | | 256,118 | Additions | | — | | 2,649 | | 7,236 | | 42,007 | | 51,892 | Depreciation charge | | (3,479) | | (5,427) | | (6,770) | | — | | (15,676) | Closing net book amount | | 216,554 | | 8,636 | | 25,137 | | 42,007 | | 292,334 | At 30 June 2025 | | | | | | | | | | | Cost | | 289,943 | | 43,560 | | 84,079 | | 42,007 | | 459,589 | Accumulated depreciation | | (73,389) | | (34,924) | | (58,942) | | — | | (167,255) | Net book amount | | 216,554 | | 8,636 | | 25,137 | | 42,007 | | 292,334 | Year ended 30 June 2026 | | | | | | | | | | | Opening net book amount | | 216,554 | | 8,636 | | 25,137 | | 42,007 | | 292,334 | Additions | | 64,799 | | 6,502 | | 2,768 | | 10,435 | | 84,504 | Transfers | | 35,430 | | 5,457 | | 11,555 | | (52,442) | | — | Depreciation charge | | (4,734) | | (7,186) | | (7,624) | | — | | (19,544) | Closing net book amount | | 312,049 | | 13,409 | | 31,836 | | — | | 357,294 | At 30 June 2026 | | | | | | | | | | | Cost | | 390,172 | | 55,519 | | 98,402 | | — | | 544,093 | Accumulated depreciation | | (78,123) | | (42,110) | | (66,566) | | — | | (186,799) | Net book amount | | 312,049 | | 13,409 | | 31,836 | | — | | 357,294 |
(i) | Assets pledged as security |
Property, plant and equipment with a net book amount of £204,945,000 (2025: £211,132,000) has been pledged to secure the revolving facility, the secured term loan facility and senior secured notes borrowings of the Group (see Note 25). (ii) | Depreciation methods and useful lives |
Land and assets under construction are not depreciated. With the exception of freehold property acquired before 1 August 1999, depreciation is calculated using the straight-line method to allocate cost, net of residual values, over the estimated useful lives as follows: | | | Freehold property | | 75 years | Computer equipment and software (included within Plant and machinery) | | 3 years | Plant and machinery | | 4-5 years | Fixtures and fittings | | 7 years |
Freehold property acquired before 1 August 1999 is depreciated on a reducing balance basis at an annual rate of 1.33%. See Note 2.11 for the other accounting policies relevant to property, plant and equipment, and Note 2.10 for the Group’s policy regarding impairments. See Note 32.1 for disclosure of capital commitments relating to property, plant and equipment.
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