17. Related parties

Related parties transactions not disclosed elsewhere in the Consolidated Financial Statement are as follows:

One Director of the Company, Peter Dubens, is also a beneficial owner of the Investment Adviser, an entity that provides services to, and receives compensation from, the Company. The agreements between the Company and these service providers are based on normal commercial terms as disclosed in the 2024 Annual Report.

The Company holds unquoted debt security with Time Out amounting to £7.3 million (30 June 2024: £6.5 million) as at the period end. The terms of the debt are considered to be on a commercial basis.