Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Provisions

v3.23.1
Provisions
 12 Months Ended
Dec. 31, 2022
Provisions [Abstract]  
Provisions

21. Provisions

 

    Dilapidation     Restructuring     Other     Total  
    £’000     £’000     £’000     £’000  
                         
At December 31, 2020     3,363      
-
      
-
       3,363  
                                 
Acquisition of subsidiaries     3,549      
-
      
-
       3,549  
Recognized during the year     1,073      
-
      
-
       1,073  
                                 
At December 31, 2021     7,985      
-
      
-
       7,985  
                                 
Acquisition of subsidiaries    
-
      
-
       631       631  
Recognized during the year     1,464       36,877       1,979       40,320  
Utilized during the year     (697 )     (5,740 )    
-
       (6,437 )
Reversed during the year    
-
       (1,406 )    
-
       (1,406 )
Liabilities held for sale    
-
       (5,033 )    
-
       (5,033 )
Disposal of subsidiaries    
-
      
-
       (770 )     (770 )
                                 
At December 31, 2022     8,752       24,698       1,840       35,290  
                                 
Current    
-
       24,698       1,840       26,538  
Non-current     8,752      
-
      
-
       8,752  

 

The dilapidation provisions relate to the expected reinstatement costs of leased office buildings, vehicle preparation centers, collection centers and vehicles back to the conditions required by the lease. Cash outflows associated with the dilapidation provisions are to be incurred at the end of the relevant lease term, between 4 and 20 years.

 

The restructuring provision relates to actions being undertaken as part of the Group’s Revised Business Plans including redundancy costs. Cash outflows associated with the restructuring provision are to be largely incurred within 12 months.