Morgan Advanced Materials

Balance Sheet Full Year 2024

As at 31 December 2024

		As at 31 December 2024	As at 31 December 2023
	Note	£m	£m
Assets
Property, plant and equipment	9	344.9	293.8
Right-of-use assets	10	32.5	31.6
Intangible assets: goodwill	11	176.9	177.5
Intangible assets: other	11	3.0	4.7
Investments		2.0	2.2
Trade and other receivables		3.6	3.4
Employee benefits: pensions¹	14	13.0	13.5
Deferred tax assets		21.4	17.6
Total non-current assets		597.3	544.3
Inventories		165.9	175.1
Derivative financial assets	13	1.2	1.5
Trade and other receivables		189.6	191.6
Current tax receivable		2.3	1.2
Cash and cash equivalents	12	120.8	124.5
Total current assets		479.8	493.9
Total assets		1,077.1	1,038.2
Liabilities
Borrowings		337.7	309.1
Lease liabilities		36.1	36.6
Employee benefits: pensions¹	14	34.5	38.7
Provisions	15	10.9	11.5
Non-trade payables		2.8	2.4
Deferred tax liabilities		2.7	1.8
Total non-current liabilities		424.7	400.1
Borrowings and bank overdrafts		9.3	0.6
Lease liabilities		11.0	10.5
Trade and other payables		204.1	192.0
Current tax payable		26.6	25.6
Provisions	15	9.5	10.3
Derivative financial liabilities	13	2.6	0.5
Total current liabilities		263.1	239.5
Total liabilities		687.8	639.6
Total net assets		389.3	398.6
Equity
Share capital		70.9	71.3
Share premium		111.7	111.7
Reserves		(8.2)	6.5
Retained earnings		179.3	170.8
Total equity attributable to shareholders of the Company		353.7	360.3
Non-controlling interests		35.6	38.3
Total equity		389.3	398.6

1 In the prior year published results the pension assets were presented net within pension liabilities. The prior year figures above have been re-presented to show the pension assets within non current assets and a corresponding increase to the pension liabilities. There is no impact on net profit, net assets or cash flows.

See our full Financial Highlights to learn more, or view our Cash Flow and Income Statement to see our latest performance.