Morgan Advanced Materials

Balance Sheet Full Year 2023

As at 31 December 2023

		As at 31 December 2023	As at 31 December 2022
	Note	£m	£m
Assets
Property, plant and equipment	9	293.8	283.2
Right-of-use assets	10	31.6	33.6
Intangible assets: goodwill	11	177.5	181.9
Intangible assets: other	11	4.7	7.1
Investments		2.2	-
Other receivables		3.4	3.2
Deferred tax assets		17.6	15.3
Total non-current assets		530.8	524.3
Inventories		175.1	174.2
Derivative financial assets	13	1.5	1.3
Trade and other receivables		191.6	202.5
Current tax receivable		1.2	0.3
Cash and cash equivalents	12	124.5	117.7
Total current assets		493.9	496.0
Total assets		1,024.7	1,020.3
Liabilities
Borrowings		309.1	230.1
Lease liabilities		36.6	41.4
Employee benefits: pensions	14	25.2	15.6
Provisions	15	11.5	16.1
Non-trade payables		2.4	2.1
Deferred tax liabilities		1.8	2.0
Total non-current liabilities		386.6	307.3
Borrowings and bank overdrafts		0.6	36.1
Lease liabilities		10.5	10.5
Trade and other payables		192.0	195.0
Current tax payable		25.6	30.3
Provisions	15	10.3	9.9
Derivative financial liabilities	13	0.5	1.6
Total current liabilities		239.5	283.4
Total liabilities		626.1	590.7
Total net assets		398.6	429.6
Equity
Share capital		71.3	71.3
Share premium		111.7	111.7
Reserves		6.5	35.1
Retained earnings		170.8	170.9
Total equity attributable to shareholders of the Company		360.3	389.0
Non-controlling interests		38.3	40.6
Total equity		398.6	429.6

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