Solipse/MSG1 huggingface dataset:
Defined Contribution Plans

The Group operates a defined contribution pension scheme for all qualifying employees in the United Kingdom. The assets of the scheme are held separately from those of the Group in an independently administered fund. The contributions payable by the Group and charged to profit and loss in the year amounted to £7,066k (2021: £1,853k). Contributions totalling £1,119k (2021: £342k) were payable to the fund at the year end and are included in creditors.

| 7. Interest expense                                                                 | Year ended   | Period ended   |
|-------------------------------------------------------------------------------------|--------------|----------------|
|                                                                                     | 31 December  | 31 December    |
|                                                                                     | 2022         | 2021           |
|                                                                                     | £000         | £000           |
| Interest incurred Interest incurred on current and non-current borrowings (Note 19) | 37,555       | 6,710          |
| Other interest expense Amortisation of debt arrangement fees                        | 1,542        | 262            |
|                                                                                     | 39,097       | 6,972          |

|                           | Year ended   | Period ended   |
|---------------------------|--------------|----------------|
| 31 December               | 31 December  |                |
| 2022                      | 2021         |                |
| £000                      | £000         |                |
| Interest on bank balances | 3,188        | 2,139          |
8. Taxation

| 8. Taxation                                                 | Year ended   | Period ended   |
|-------------------------------------------------------------|--------------|----------------|
| 31 December                                                 | 31 December  |                |
|                                                             | 2022         | 2021           |
| Current tax                                                 | £000         | £000           |
| Corporation tax (credit)/charge for the period              | (1,664)      | 2,594          |
| Adjustment in respect of previous years                     | (788)        | -              |
| Current tax (credit)/expense                                | (2,452)      | 2,594          |
| Deferred tax Origination and reversal of timing differences | (4,152)      | 3,735          |
| Adjustments in respect to prior year                        | (1,185)      | -              |
| Effect of tax rate change on opening balance                | (247)        | -              |
| Deferred tax expense                                        | (5,584)      | 3,735          |
| Tax (credit)/expense for the period                         | (8,036)      | 6,329          |
| Tax reconciliation Loss before tax                          | (96,447)     | (4,187)        |
| Loss on ordinary activities multiplied by the standard rate | (18,325)     | (796)          |
| of UK tax at 19% Effects of: Fixed asset differences        | 1,504        | 34             |
| Expenses not-deductible for tax purposes                    | 11,489       | 3,328          |
| Transfer pricing adjustments                                | 247          | 43             |
| Difference in tax rates                                     | (992)        | 1              |
| Deferred tax not recognised                                 | 2,212        | 2,890          |
| Other permanent differences                                 | (104)        | -              |
| Chargeable losses                                           | (783)        | -              |
| Adjustments to tax charge for prior period                  | (2,121)      | -              |
| Remeasurement of deferred tax for change in tax rates       | (976)        | -              |
| Other timing differences                                    | (187)        | 829            |
| Tax expense for the period                                  | (8,036)      | 6,329          |

At the reporting date the main UK rate of Corporation Tax for the period was 19%. The *Finance Bill 2021*, which was substantively enacted on 24 May 2021, included the announcement that the corporation tax rate for years starting from April 2023 would increase to 25% on profits over £250,000. Deferred tax balances on the statement of financial position have been measured at the substantively enacted rate at the date they are expected realise.
9. Intangible Assets

|                                            | Customer      | Intellectual     |         | Affinity   |               |                   |          |
|--------------------------------------------|---------------|------------------|---------|------------|---------------|-------------------|----------|
| Software                                   | relationships | Brand            |         | property   | relationships | Goodwill          | Total    |
| Cost                                       | £000          | £000             | £000    | £000       | £000          | £000              | £000     |
| At 1 January 2022                          | 5,491         | 106,397          | 15,347  | 28,467     | -             | 231,174           | 386,876  |
| Acquired during the year                   | -             | 135,400          | 5,200   | -          | -             | 292,828           | 433,428  |
| Capitalised during the year                | 33,182        | -                | -       | -          | 1,480         | -                 | 34,662   |
| Disposals during the year                  | (8,069)       | -                | -       | -          | -             | -                 | (8,069)  |
| At 31 December 2022                        | 30,604        | 241,797          | 20,547  | 28,467     | 1,480         | 524,002 846,897   |          |
| Accumulated amortisation At 1 January 2022 | (2,135)       | (5,302)          | (509)   | (2,309)    | -             | (13,953)          | (24,208) |
| Amortisation during the year               | (5,117)       | (20,108)         | (1,340) | (3,716)    | (192)         | (46,065)          | (76,538) |
| Disposals during the year                  | 5,436         | -                | -       | -          | -             | -                 | 5,436    |
| At 31 December 2022                        | (1,816)       | (25,410) (1,849) |         | (6,025)    | (192)         | (60,018) (95,310) |          |
| Net book value At 31 December 2021         | 3,356         | 101,095          | 14,838  | 26,158     | -             | 217,221           | 362,668  |
| At 31 December 2022                        | 28,788        | 216,387          | 18,698  | 22,442     | 1,288         | 463,984 751,587   |          |

The amortisation charge for the period is recognised within administrative expenses. See *Note 14* for details of the business combination in the period. The Company had no intangible assets at 31 December 2022.
10. Tangible Assets

| Group                                      |              | Fixtures,   |          |       |         |
|--------------------------------------------|--------------|-------------|----------|-------|---------|
| Freehold                                   | Leasehold    | fittings &  | Motor    |       |         |
| properties                                 | improvements | equipment   | vehicles | Total |         |
| Cost                                       | £000         | £000        | £000     | £000  | £000    |
| At 1 January 2022                          | 12,053       | 2,169       | 7,179    | 2,303 | 23,704  |
| Acquired on business combination           | 2,944        | -           | 9,409    | 29    | 12,382  |
| Additions during the year                  | 9,535        | 647         | 4,861    | 1,905 | 16,948  |
| Disposals for the year                     | (102)        | (195)       | (103)    | (315) | (715)   |
| At 31 December 2022                        | 24,430       | 2,621       | 21,346   | 3,922 | 52,319  |
| Accumulated Depreciation At 1 January 2022 | (210)        | (163)       | (798)    | (314) | (1,485) |
| Charge during the year                     | (712)        | (488)       | (5,902)  | (754) | (7,856) |
| Disposals for the year                     | 99           | 80          | 75       | 267   | 521     |
| At 31 December 2022                        | (823)        | (571)       | (6,625)  | (801) | (8,820) |
| Net book value At 31 December 2021         | 11,843       | 2,006       | 6,381    | 1,989 | 22,219  |
| At 31 December 2022                        | 23,607       | 2,050       | 14,721   | 3,121 | 43,499  |

The depreciation charge for the period is recognised within administrative expenses. See *Note 14* for details of the period. The Company had no tangible assets at 31 December 2022. Freehold properties are subject to charges to secure borrowings. Included within carrying value of tangible assets are motor vehicles held under finance leases or hire purchase agreements of £1,454k (2021: £921k) attracting depreciation of £292k (2021: £293k) in the period.
11. Investment Properties

| Group                           | £000   |
|---------------------------------|--------|
| Fair value at 1 January 2022    | 9,339  |
| Additions in the year           | 1,160  |
| Fair value losses in the period | (605)  |
| Fair value at 31 December 2022  | 9,894  |

Investment property comprises freehold office and residential buildings. Investment properties are subject to charges to secure borrowings. The fair value of the Group's investment property at 31 December 2022 has been arrived at on the basis of a valuation carried out at that date by the Group by utilising a formal valuation prepared by an independent and professionally qualified chartered surveyor, Avison Young (UK) Limited. The valuation advice has considered the market comparable for similar properties during the period and the tenure and tenancy position at that date. 

| Group                          | £000    |
|--------------------------------|---------|
| Fair value at 1 January 2022   | 14,901  |
| Share of loss of associates    | (5,985) |
| Fair value at 31 December 2022 | 8,916   |
12. Investment In Associate

The Group holds 9.5% of the nominal value of the ordinary shares of Soteria Finance Holdings Limited (SFHL). SFHL is accounted for as an associate as the Group is in a position to exercise significant influence. SFHL is registered in England and its registered office is 40 Berkley Square, London, W1J 5AL. The business of SFHL is to underwrite insurance, predominantly in personal lines (motor and home). At 31 December 2022, the equity of SFHL was £93,900k and its loss for the period was £63,000k. The Company had no associates during the period.
13. Other Investments

|                                     |          | Loan secured   |             |          |
|-------------------------------------|----------|----------------|-------------|----------|
|                                     |          | Equity         | by mortgage | Total    |
| Group                               |          | £000           | £000        | £000     |
| At 1 January 2022                   | 169,782  | 2,078          | 171,860     |          |
| Additions                           |          | 13,872         | -           | 13,872   |
| Interest income                     |          | -              | 191         | 191      |
| Investment income - fair value loss | (5,081)  | -              | (5,081)     |          |
| Disposals                           | (29,490) | -              | (29,490)    |          |
| Interest paid                       |          | -              | (191)       | (191)    |
| At 31 December 2022                 | 149,083  | 2,078          | 151,161     |          |
| Level 1                             | Level 2  | Level 3        | Total       |          |
| Assets held at fair value - equity  | £000     | £000           | £000        | £000     |
| At 1 January 2022                   | -        | 169,782        | -           | 169,782  |
| Additions                           | -        | 13,872         | -           | 13,872   |
| Investment income - fair value loss | -        | (5,081)        | -           | (5,081)  |
| Disposals                           | -        | (29,490)       | -           | (29,490) |
| Transfer between fair value level   | -        | (14,307)       | 14,307      | -        |
| At 31 December 2022                 | -        | 134,776        | 14,307      | 149,083  |

At 31 December 2021 the Group held an investment in a unitised investment fund, the Expert Investor V ICAV - Twin Focus Global Asset Fund, which was classified as level 2. On 30 November 2022 the units in this fund were cancelled and the underlying assets held transferred to the Group as directly held investments. The calculation of the fair value for one of the large holdings transferred out of this fund is based on discounted cash flow forecasts, with no direct market observable inputs, and as such, this asset was transferred out of level 2 and into level 3 of the fair value hierarchy.
Other Controlled Entity

In addition to the subsidiaries disclosed above, BGL Receivable Financing (1) Limited is deemed to be controlled as, whilst the Group does not have a controlling shareholding, it has the right to the variable returns from its involvement in the entity. The Group's interest in this entity is, in substance, no different than if it were a wholly owned subsidiary and, as such, is consolidated into the Group. This entity came into the Group along with the entities acquired as disclosed in *Note 14*. Company Investment in subsidiary **£000**
Cost at 1 January 2022 and 31 December 2022 **218,195** Indicators of impairment of the Company's investment in Markerstudy Group Limited were identified, however no impairments were recognised as the investments value is deemed to be recoverable.
14. Acquisition And Disposal

On 29 April 2022 Markerstudy Group Limited ("MGL") acquired 100% of the share capital of BISL Limited and its subsidiaries BFSL Limited, ACM ULR Limited and BGL Direct Life Limited, together referred to as BGL Insurance ("BGLi"). The book and fair value of the acquired assets and liabilities of BGLi, and the associated goodwill, are as follows:

| goodwill, are as follows:     | Fair value   | Fair value on   |           |
|-------------------------------|--------------|-----------------|-----------|
| Book value                    | adjustments  | acquisition     |           |
| Intangible assets             | £000         | £000            | £000      |
| Customer relationships        | 8,292        | 127,108         | 135,400   |
| Software                      | 28,549       | (28,549)        | -         |
| Brands                        | -            | 5,200           | 5,200     |
| Tangible assets               | 12,382       | -               | 12,382    |
| Deferred Tax                  | 6,325        | -               | 6,325     |
| Cash and cash equivalents     | 25,072       | -               | 25,072    |
| Debtors                       | 318,464      | -               | 318,464   |
| Other debtors                 | 54,961       | -               | 54,961    |
| Intercompany receivable       | 150,000      | -               | 150,000   |
| Creditors due within one year | (395,048)    | -               | (395,048) |
| Borrowings                    | (150,000)    | -               | (150,000) |
| Provisions for liabilities    | (1,502)      | (25,464)        | (26,966)  |
| Net assets                    | 57,495       | 78,295          | 135,790   |
| Consideration - cash          |              | 419,149         |           |
| Consideration - deal costs    |              | 9,470           |           |
| Total consideration paid      |              | 428,619         |           |
| Goodwill on acquisition       |              | 292,829         |           |

The revenues and profits attributable to the acquisition for the period amounted to £130,917k and £15,192k. During the period of ownership, an additional £7.0 million of equity was invested into BGL Direct Life Limited, resulting in net assets on its disposal on 30 November 2022 of £5.2 million. The entity was sold for consideration of £9.9 million, fulfilled in cash, resulting in a profit on disposal of £4.7 million. BGL Direct Life Limited generated a loss after tax of £2,207k during the period it was a member of the Group.

| 15. Stocks Group                    | 2022   | 2021   |
|-------------------------------------|--------|--------|
|                                     | £000   | £000   |
| Finished goods and goods for resale | 6,344  | 6,629  |
15. Stocks

The Company held no stock at either 31 December 2021 or 31 December 2022.

| 16. Debtors Group                 | 2022    | 2021    |
|-----------------------------------|---------|---------|
| Debtors due in more than one year | £000    | £000    |
| Amount due from related party     | 121,516 | 115,754 |
| Other debtors                     | 417     | -       |
|                                   | 121,933 | 115,754 |
|                                   | 2022    | 2021    |
| Debtors due within one year       | £000    | £000    |
| Trade debtors                     | 488,820 | 134,669 |
| Amount due from related party     | -       | 5,225   |
| Corporation tax                   | 1,519   | -       |
| Other debtors                     | 17,748  | 20,044  |
| Prepayments and accrued income    | 34,042  | 23,585  |
|                                   | 542,129 | 183,523 |

On 13 July 2021 amounts totalling £119,574k due from related parties were formalised into a single interest-bearing loan. From this date an interest rate of 6% per annum was applied to Tranche A, B and C totalling £50,000k with the remaining Tranches D and E, totalling £69,574k non-interest bearing. The original agreement has been amended to defer payment of the remainder of Tranche A, and Tranches B, C and D, plus accrued interest, to 31 December 2024, with Tranche E, plus accrued interest, due on maturity in 2027. The full balance of £120,017k (2021: £120,979k) is therefore deemed non-current. The terms of the agreement state that, under certain conditions, including a sale or listing of Venus Topco Limited ("an exit event"), the full balance of the loan would be deducted from the proceeds payable to the related parties. As such, the loan could be settled before the due dates should such an exit event occur. The Group has sufficient collateral to secure the repayment of the amount due. Trade debtors are stated net of impairment of £19,144k (2021: £24,647k) and are unsecured, non-interest bearing, have no fixed date of repayment and are repayable on written demand. The Company balance is an intercompany receivable of £129,997k and £13k prepayment (2021: £14,406k intercompany receivable).
17. Creditors Due Within One Year

| 2022                                                         |         | 2021    |
|--------------------------------------------------------------|---------|---------|
| Group                                                        | £000    | £000    |
| Trade creditors                                              | 49,917  | 51,518  |
| Amounts owed to group undertakings                           | 95,891  | -       |
| Broker balances                                              | 629,011 | 243,070 |
| Accruals and deferred income                                 | 101,029 | 52,626  |
| Other taxes and social security costs                        | 16,083  | 24,674  |
| Deferred consideration (see Note 18)                         | 10,207  | 10,000  |
| Corporation tax                                              | -       | 7,889   |
| Accrued interest                                             | 7,293   | 1,542   |
| Obligations under finance leases and hire purchase contracts | 422     | 543     |
| Other creditors                                              | 46,103  | 51,062  |
| 955,956                                                      |         | 442,924 |

The amounts owed to trade, group undertakings, broker, and other creditors are unsecured, non-interest bearing, have no fixed date of repayment and are repayable on written demand by the counterparty. The carrying value of creditors approximates their fair value. The deferred consideration amount of £10,207k (2021: £10,000k) relates to the Group's acquisition of Affinity Insurance Solutions Limited. The Company balance £130,077k (2021: £14,406k) is an intercompany payable. The terms of the balance are the same as the Group amounts disclosed above.
18. Creditors Due In More Than One Year

|                                                              | 2022   | 2021   |
|--------------------------------------------------------------|--------|--------|
| Group                                                        | £000   | £000   |
| Unearned commission                                          | 81,283 | 64,992 |
| Deferred consideration                                       | 5,000  | 15,376 |
| Obligations under finance leases and hire purchase contracts | 848    | 148    |
|                                                              | 87,131 | 80,516 |

|                                                                       | 2022   | 2021   |
|-----------------------------------------------------------------------|--------|--------|
| Future lease payments under finance lease and hire purchase contracts | £000   | £000   |
| Within one year (Note 17)                                             | 422    | 543    |
| Within two to five years                                              | 848    | 176    |
| Less: future finance charges                                          | (142)  | (28)   |
| Net due in more than one year                                         | 706    | 148    |
| Total obligations under finance leases and hire purchase contracts    | 1,128  | 691    |

The deferred consideration amount of £5,000k (2021: £15,376k) relates to the Group's acquisition of Affinity Insurance Solutions Limited. This is the element expected to be paid after more than one year.
19. Borrowings

| 19. Borrowings Group             | 2022    | 2021    |
|----------------------------------|---------|---------|
| Current                          | £000    | £000    |
| Rolling credit facility          | 30,000  | 5,000   |
|                                  | 30,000  | 5,000   |
| Non-current                      |         |         |
| Unitranche senior debt           | 257,094 | 89,721  |
| Securitisation facility          | 203,000 | -       |
| Loans secured on Group companies | 47,327  | 46,780  |
| BISL Limited loan                | -       | 25,823  |
| Other loans                      | 17,598  | 11,464  |
|                                  | 525,019 | 173,788 |
Unitranche And Rolling Credit Facility

During 2021 the Group sourced a debt facility with a floating rate based on a margin of 6.75% above SONIA which is secured by guarantees and fixed and floating charges over all assets of the Group. It is repayable in 2027. The unitranche senior debt element of £257,094k (2021: £89,721k) is shown net of £10,507k (2021: £2,879k) debt arrangement fees. These fees were incurred in 2021 and 2022 on the advancement of the loans described above and are being amortised through profit and loss over the respective terms of the loan.
Securitisation Facility

The securitisation facility is a borrowing facility secured on the premium instalment debtors in BFSL limited and is repayable in 2025. The drawn amount attracts interest based on a mixture of SONIA and commercial paper rates plus a margin of 1.9% and a charge of 0.76% on the value of the facility undrawn.