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Disposals of subsidiaries | 12 Months Ended
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Dec. 31, 2024
Disposal of Subsidiary [Abstract] |
Disposals of subsidiaries | 28. Disposals of subsidiaries Disposal of FGS Global On 7 August 2024, the Group announced its intention to dispose of its 50.4% investment in FGS Global ("FGS"). On 2 December 2024, the disposal of FGS to Kite Bidco Inc., an entity controlled by Kohlberg Kravis Roberts & Co. L.P. ("KKR") was completed. Cash consideration of £613 million was received on the completion date. In addition, as part of the disposal agreement, loans owing by FGS to WPP Group entities totalling £93 million were settled. These loans were included as Borrowings in the balance sheet of FGS at disposal and were settled separately to the cash consideration.
| £m
Goodwill | 448 |
Intangible assets | 60 |
Right of use assets | 59 |
Cash and cash equivalents 1 | 93 |
Trade and other receivables | 106 |
Accrued income | 24 |
Other assets | 29 |
Total assets | 819 |
Borrowings | (93) |
Lease liabilities | (74) |
Deferred income | (16) |
Trade and other payables | (93) |
Deferred tax liabilities | (33) |
Other liabilities | (3) |
Total liabilities | (312) |
Net assets | 507 |
Non-controlling interests | (100) |
Net assets disposed | 407 |
Consideration received 1 | 613 |
Gain on disposal before income tax and reclassification of foreign currency translation reserve | 206 |
Reclassification of foreign currency translation reserve | 69 |
Gain on disposal before income tax | 275 |
Income tax expense on gain | (79) |
Gain on disposal after income tax | 196 |
Note 1 Consideration received less cash and cash equivalents disposed is included within 'Disposals of investments and subsidiaries' in investing activities in the consolidated cash flow statement. Other Disposals Proceeds from the disposal of other investments and subsidiaries during the year, less cash and cash equivalents disposed, amounted to £33 million (2023: £99 million), which is included within 'Disposal of investments and subsidiaries' in investing activities in the consolidated cash flow statement.

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- Definition The disclosure of discontinued operations. [Refer: Discontinued operations [member]] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2024-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2024-en-r&anchor=para_10_e&doctype=Standard -URIDate 2024-03-27 + Details
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- Definition Disposal of Subsidiary [Abstract] + References No definition available. + Details
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