Page 248 - Sigmaroc Annual-Report 2023

SIGMAROC ANNUAL REPORT 2023 FINANCIAL REPORT
Notes to the financial statements
Retaining
On 7 April 2023, the Group acquired 100 per cent. of the share capital of Retaining and its subsidiaries for a cash consideration of £2.45 million. Retaining is registered and incorporated in England. Retaining provides retaining wall solutions across the United Kingdom.
The following table summarises the consideration paid for Retaining and the values of the assets and equity assumed at the acquisition date.
Cash
Cash and cash equivalents Trade and other receivables Inventories
Property, plant & equipment Trade and other payables Income tax payable Deferred tax liability Borrowings
Total identifiable net assets Goodwill (refer to note 17) Total consideration
Since 7 April 2023, Retaining has contributed a profit of £0.6 million and revenue of £4.2 million. Had Retaining been consolidated from 1 January 2023, the consolidated statement of income would show additional loss of £0.1 million and revenue of £1.4 million.
Total consideration
£’000
2,450
2,450
Recognised amounts of assets and liabilities acquired
£’000
150
300
1,372
396
(889)
(46)
(30)
(459)
794
1,656
2,450